The agreement by which an employee exchanges his/her labor in return for specific pay and working conditions is known as a compromise agreement.

Name: The agreement by which an employee exchanges his/her labor in return for specific pay and working conditions is known as a compromise agreement.
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The agreement by which an employee exchanges his/her labor in return for specific pay and working conditions is known as an employment contract, not a compromise agreement.

The Agreement by Which an Employee Exchanges His/her Labor in Return