The Executive Employment Agreement is a crucial legal document used when hiring senior-level executives in Ireland, establishing the formal employment relationship between a company and its high-level personnel. This agreement is more sophisticated than standard employment contracts, reflecting the increased responsibility and authority of executive positions. It must comply with Irish employment law while addressing specific executive considerations such as complex compensation structures, strategic decision-making authority, and corporate governance obligations. The document is essential for protecting both the company's interests through confidentiality and post-termination restrictions, and the executive's rights through clearly defined terms of employment, benefits, and performance-based incentives. It's particularly important for ensuring clarity in reporting structures, decision-making authority, and performance expectations at the executive level.
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1. Parties: Identification of the employer company and the executive
2. Background: Context of the agreement and brief description of the executive role
3. Definitions: Definitions of key terms used throughout the agreement
4. Appointment and Term: Details of the position, commencement date, and term (if fixed)
5. Duties and Responsibilities: Executive's primary duties, reporting lines, and level of authority
6. Place of Work: Primary work location and travel requirements
7. Hours of Work: Working hours expectations while acknowledging senior position flexibility
8. Remuneration: Base salary, review periods, and payment arrangements
9. Bonus and Incentives: Performance-related bonuses and other incentive schemes
10. Benefits: Healthcare, pension, insurance, and other benefits
11. Expenses: Business expenses reimbursement policy
12. Holiday Entitlement: Annual leave and public holiday provisions
13. Illness and Sick Pay: Sick leave terms and medical examination requirements
14. Confidentiality: Protection of company confidential information
15. Intellectual Property: Ownership of intellectual property created during employment
16. Data Protection: GDPR compliance and data processing provisions
17. Termination: Grounds for termination and notice periods
18. Post-Termination Restrictions: Non-compete and non-solicitation provisions
19. Garden Leave: Company's right to place executive on garden leave
20. Company Policies: Compliance with company policies and procedures
21. Governing Law: Irish law as governing law and jurisdiction
1. Directorship: Required if the executive will also serve as a company director
2. Share Options: Include if the executive is offered share options or equity participation
3. International Travel: Required for roles involving significant international responsibilities
4. Change of Control: Provisions dealing with company sale or merger scenarios
5. Relocation: Include if the role involves relocation assistance
6. Acting as Fiduciary: Required if executive will act as trustee or fiduciary for company schemes
7. Corporate Credit Card: Include if executive will be provided with company credit facilities
8. Company Car: Include if a company car or car allowance is provided
9. Secondment: Required if executive may be seconded to other group companies
10. Gardening Leave: Detailed provisions if specific gardening leave arrangements are needed
1. Schedule 1 - Job Description: Detailed description of executive's duties and responsibilities
2. Schedule 2 - Remuneration Package: Comprehensive breakdown of salary, benefits, and incentives
3. Schedule 3 - Bonus Scheme Rules: Detailed terms of any performance-related bonus schemes
4. Schedule 4 - Share Option Terms: Details of share option or equity participation schemes
5. Schedule 5 - Restricted Activities: Detailed list of post-termination restricted activities
6. Schedule 6 - Company Policies: List of applicable company policies and procedures
7. Appendix A - Benefits Summary: Detailed description of all benefits and allowances
8. Appendix B - Data Protection Policy: Specific data protection and privacy requirements
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