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An employee equipment agreement is a legally binding contract between an employer and an employee regarding the use of company-owned equipment. It outlines the employer's expectations for equipment handling. Key points include employee permissions and responsibilities, where employees must regularly maintain company equipment and return it if they leave the company. The agreement also specifies policies on using equipment, particularly when taken off-site. Common office equipment covered by this agreement typically includes items like laptops and other essential tools. The video tutorial delves into the specifics of these responsibilities and necessary details to include in the agreement.