Employment contract terms outline the conditions in which an employee will be employed by a business. There are a few different types of contracts to accomplish this. There are standard written employment contracts that are provided for all of a certain type of employee within a company. Another is a unique written contract specific to one employee. Then there is the more complicated implied contract. An implied contract can simply be a verbal agreement between employee and employer, this would be a verbal contract. It can also be the employee guidelines that are stipulated in an employee handbook the organization provides. However, in all forms the terms will include the circumstances of employment, compensation process, and termination process.