They do print the terms on paper. Usually, companies that don’t have a formal contract that both the employee and employer sign will still write down all the important information. First the employer sends an offer letter containing important information unique to the new employee, such as job title, compensation, work location, start date, etc. Then everything else is in some kind of employee handbook. The handbook details the expectations for every job title, the rules employees are expected to follow, rules for promotions and transfers, etc, etc. Together these have everything you would expect in a contract that both the employee and employer sign, and they are just as binding.