SMGT 3861 Lecture 6: Chapter 5 continued

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Published on 13 Mar 2019
What are general elements of a contract agreement? Typical Provisions:
Party designations
Term: length
Representations and warranties
Obligations and duties
Compensation: base salary, perks, damages
Termination: just cause; without cause (may buyout the contract)
Choice of law, merger clause, act of god
Employment Contract
Employment at will
o Contract term is at will
o Both employer and employee can terminate the employment contract
for no reason at any time
Covenant not to compete
o To protect employer (employee leaves to work for competitor)
o Terms of scope (how many years)
o Geographic area
o Different in states
College Contracts
Student-athletes: contracts with a university
o National letter of intent
Scholarship (grant-in-aid)
o Cannot exceed the cost of attendance that is normally incurred by
students enrolled in a comparable program
o Cannot exceed 5 years in length
o Cannot be terminated on the basis of skill or performance
Employment Contracts: Professional Athletes
Collective Bargaining Agreement (CBA)
o Contract between player (union) and owners (league)
o Uniform player contract: standard contract for all professional athletes
in a league
o Content: salaries, codes of conduct, drug testing provisions, amateur
draft rules and grievance procedures
Endorsement contract
Athlete agent representation agreement
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