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An employment contract is an agreement between an employer and an employee to establish an employment relationship. Employees can be classified as at-will employees or independent contractors. At-will employees have no fixed contract period and can be terminated by either party at any time. In contrast, independent contractors are hired for a specific purpose and time. The employment contract outlines key aspects of the relationship, including employment duties, classification of the employee, termination conditions, compensation type and manner, benefits, and the liabilities of both parties involved.