Maryland accountant employment contract template

Maryland Accountant Employment Contract

This Full-Time Accountant Employment Agreement (the "Agreement") is made and entered into as of [Date] by and between [Employer Name], a company registered in Maryland with its principal place of business at [Employer Address] (the "Employer"), and [Employee Name], residing at [Employee Address] (the "Employee").

1. Employment

• Option A: The Employer hereby employs the Employee as a full-time Accountant.
• Option B: The Employer hereby employs the Employee as a full-time Senior Accountant.

2. Job Responsibilities

• The Employee shall perform the following duties, including but not limited to:
• Bookkeeping and general ledger maintenance.
• Preparation of financial statements in accordance with GAAP and Maryland-specific financial reporting standards.
• Monthly and annual closing procedures.
• Preparation and filing of state and local tax returns, ensuring compliance with Maryland tax codes.
• Accounts payable and receivable management.
• Payroll processing.
• Internal control assessment.
• Budget preparation and analysis.
• Financial auditing.
• Forensic analysis (if applicable).
• Ensuring client or company compliance with federal, Maryland, and local accounting regulations.
• Other duties as assigned by the Employer.

3. Maryland Regulatory Knowledge

• The Employee must possess and maintain a working knowledge of Maryland Department of Assessments & Taxation (SDAT) filings, state business tax credits, and local county or municipal financial ordinances.
• The Employee must be aware of Maryland-specific statutes such as the Maryland Wage Payment and Collection Law and the Maryland Healthy Working Families Act as they pertain to accounting and payroll.

4. Work Location

• Option A: The primary work location is the Employer's office located at [Employer Address].
• Option B: The Employee will work remotely, with occasional travel to the Employer's office located at [Employer Address].
• Remote access to confidential financial data will be governed by Maryland privacy and cybersecurity regulations.
• Option C: Hybrid work arrangement, involving [Number] days in office at [Employer Address], and remaining time remote.

5. Work Hours

• The Employee's regular work hours shall be [Number] hours per week.
• Core work hours are [Start Time] to [End Time], Monday through Friday.
• Option A: The Employee is exempt from overtime pay.
• Option B: The Employee is eligible for overtime pay at a rate of 1.5 times the regular hourly rate for hours worked over 40 in a workweek, as required by Maryland law.

6. Compensation

• Option A: The Employee's annual salary shall be [Amount], payable [Frequency].
• Option B: The Employee's hourly wage shall be [Amount], payable [Frequency].
• Wages will be paid via [Payment Method, e.g., direct deposit] in accordance with Maryland's "regular payday" rules.
• All payroll deductions will comply with Maryland law.
• Option A: The Employee is eligible for reimbursement for travel and authorized business expenses, subject to the Employer's expense reimbursement policy.
• Option B: The Employee is eligible for a bonus based on performance. The criteria for the bonus will be defined by [Describe bonus system and its parameters, e.g. employer's performance metrics].

7. Benefits

• The Employee is entitled to Maryland-required sick and safe leave.
• The Employee is eligible for company vacation leave as per the Employer's vacation policy.
• The Employee is eligible for paid holidays, including Maryland legal holidays.
• Option A: The Employee is eligible for health, dental, and vision insurance, subject to the Employer's plan terms and eligibility requirements.
• Option B: The Employer contributes to health, dental, and vision insurance, subject to the Employer's plan terms and eligibility requirements.
• Option C: The Employee is eligible for enrollment in the Employer's retirement plan, subject to the plan's terms and eligibility requirements.
• Eligibility and enrollment waiting periods apply as per company policies and applicable laws, including COBRA and Maryland mini-COBRA requirements for health plan continuation.

8. Professional Liability

• Option A: The Employer will provide fidelity bond or errors and omissions insurance coverage for the Employee.
• Option B: The Employer will reimburse the Employee for fidelity bond or errors and omissions insurance coverage.
• The Employee will adhere to professional liability protocols aligned with Maryland industry practices.

9. Confidentiality and Data Protection

• The Employee shall not disclose client or employer financial information, trade secrets, payroll and tax records to any third party during or after employment.
• This confidentiality obligation is governed by the Maryland Uniform Trade Secrets Act.

10. Intellectual Property

• All financial tools, templates, analysis models, or other materials developed by the Employee in the course of their employment shall be the sole property of the Employer, unless otherwise required by Maryland law.

11. Non-Solicitation

• During the term of employment and for a period of [Number] months following termination, the Employee shall not solicit any clients or employees of the Employer.

12. Non-Competition

• Option A: Non-compete not required, delete this clause.
• Option B: The parties agree to a non-compete agreement, following Maryland law.
• For a period of [Number] months following termination of employment, the Employee shall not engage in any business that directly competes with the Employer within a [Number] mile radius of [Employer Address].
• This clause is only enforceable to the extent it is "reasonably necessary" to protect the Employer's legitimate business interests and complies with the Maryland Noncompete and Conflict of Interest Clauses Act.

13. Reporting Structure

• The Employee will report directly to [Supervisor Name], [Supervisor Title].
• The Employee is assigned to the [Department Name, e.g., Finance, Audit] Department.
• The Employee is expected to communicate with Maryland regulators, auditors, and statutory authorities as required by their job duties.

14. Ethical Standards

• The Employee shall adhere to the American Institute of CPAs (AICPA) Code of Professional Conduct, the Maryland Board of Public Accountancy Rules, and the Employer's policies.
• The Employee must promptly report any suspected fraud, financial irregularities, or legal breaches.

15. Record Retention

• The Employee shall handle and retain accounting records in compliance with Maryland law, including a minimum seven-year record retention for financial statements, tax filings, and payroll data.
• The Employee shall maintain physical and electronic record security measures for Maryland data privacy compliance.

16. Disciplinary Procedures

• The Employee is subject to disciplinary procedures for professional lapses or ethical breaches, in accordance with the Maryland Board of Public Accountancy rules and the Employer's policies.

17. Termination

• The Employer or Employee may terminate the employment relationship at any time, with or without cause, subject to the following:
• Option A: The Employee must provide [Number] weeks' written notice of resignation.
• Option B: The Employee must provide [Number] months' written notice of resignation.
• Involuntary termination may occur for performance issues, misconduct, or restructuring.
• Option A: The Employee is not entitled to severance pay upon termination.
• Option B: The Employee may be eligible for severance pay subject to the terms of the Employer's severance policy.
• The Employer shall provide the Employee's final wage payment within the time frame required by Maryland law.
• Upon termination, the Employee must return all company property and sensitive financial documents.

18. At-Will Employment

• The employment relationship is at-will, as recognized by Maryland law.

19. Dispute Resolution

• The parties agree to attempt to resolve any employment-related disputes through internal complaint procedures, mediation, or arbitration before initiating litigation.
• This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland.
• The exclusive jurisdiction and venue for any legal action relating to this Agreement shall be in the state or federal courts located in [County Name] County, Maryland.

20. Compliance with Laws

• The Employer and Employee shall comply with all applicable Maryland workplace safety and anti-harassment statutes.
• The Employer is an equal opportunity employer and complies with the Maryland Fair Employment Practices Act and all categories protected under Maryland Human Relations Law.

21. Continuing Education

• Option A: The Employer will reimburse the Employee for reasonable expenses related to continuing professional education (CPE) courses required to maintain a Maryland CPA license.
• Option B: The Employee is responsible for the costs of continuing professional education.

22. Background Checks

• The Employee acknowledges that the Employer may conduct periodic background and credit checks as permitted under Maryland law.

23. Performance Assessment

• The Employee's performance will be assessed annually or periodically using accounting-specific KPIs, compliance standards, and documentation requirements per Maryland industry benchmarks.

24. Professional Conduct

• The Employee shall maintain professional conduct in relation to state and federal tax authorities and regulatory agencies.

25. Optional Elements

• Option A: The Employer will reimburse the Employee for reasonable business travel expenses within Maryland.
• Option B: Flexible work hours may be available during state audit or tax season, subject to the Employer's approval.
• Option C: The Employee shall report any suspected financial crime to the appropriate Maryland regulators.

26. Acknowledgment

• The Employee acknowledges receipt of the Employer's Maryland-specific employee handbook and accounting policies.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

[Employer Name]

By: [Employer Representative Name]

Title: [Employer Representative Title]

[Employee Name]

Date: [Date]