Often prior to entering into an employment agreement with an executive, both the Company and the Executive wish to outline their wishes in the form of a term sheet. This helps the parties negotiate the spirit of major portions of what will be the employment agreement without combing through a long agreement.
Typically the term sheet will include the following (not an exhaustive list):
Apple wrapped up its October keynote where among the big news, a new, slimmer, thinner iPad was introduced. Perhaps an even larger announcement was that Apple was going to provide its latest operating system, Mavericks OS X for free. In addition to a number of updates that effectively catch the Mac OSX to its mobile device counterpart iOS, Mavericks also introduced a new feature that can become extremely relevant for lawyers.