Contracts for employees are known as "employment contracts." These contracts are written documents wherein the employer and employee agree to the details and terms of employment. In addition, the duties and responsibilities of the employer and the employee are contained in the contract. Other common employment contract provisions relate to payment, overtime, bonuses, medical benefits, vacation time, sick time, paid holidays, disability insurance, retirement, pension benefits and stock options. Furthermore, the contract may also contain the method in which disputes will be managed, restrictions on the future employment of the employee in the event of termination or layoffs, any intellectual property ownership rights retained by the employer and confidentiality agreements.