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Director Employment Contract Template for Singapore

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Key Requirements PROMPT example:

Director Employment Contract

"I need a Director Employment Contract for our newly appointed Executive Director of our Singapore fintech startup, including stock options and international travel provisions, with the appointment starting March 1, 2025."

Document background
The Director Employment Contract is a crucial document used when appointing executive or non-executive directors in Singapore-based companies. It establishes the legal framework for the director's service, ensuring compliance with Singapore's Companies Act and corporate governance requirements. This contract typically includes detailed provisions on duties, remuneration, confidentiality, and termination terms, while addressing specific regulatory requirements for director appointments in Singapore. It's particularly important for establishing clear accountability, protecting company interests, and ensuring transparent governance structures.
Suggested Sections

1. Parties: Identification of the Company and the Director

2. Background: Context of appointment and basic company information

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position details, duration, and renewal terms

5. Duties and Responsibilities: Detailed outline of director's role and obligations

6. Remuneration and Benefits: Salary, bonuses, allowances, and other benefits

7. Working Hours and Leave: Work schedule and vacation entitlements

8. Confidentiality: Non-disclosure obligations and handling of confidential information

9. Termination: Grounds and procedures for contract termination

Optional Sections

1. Stock Options: Share-based compensation terms and conditions for equity-based compensation

2. Non-Compete: Post-employment competition restrictions to protect company interests

3. International Travel: Travel requirements and compensation for roles requiring significant travel

4. Performance Metrics: KPIs and evaluation criteria for performance-based compensation

5. Board Representation: Terms of board membership for directors serving on company board

Suggested Schedules

1. Schedule 1: Remuneration Package: Detailed breakdown of compensation components

2. Schedule 2: Job Description: Detailed role specifications and responsibilities

3. Schedule 3: Benefits Package: Details of insurance, medical, and other benefits

4. Schedule 4: Company Policies: Reference to relevant company policies and procedures

5. Appendix A: Stock Option Plan: Details of any share-based compensation schemes

6. Appendix B: Performance Criteria: Specific KPIs and evaluation metrics

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















Clauses



































Industries

Companies Act (Cap. 50): Primary legislation governing director duties, responsibilities, fiduciary obligations, disclosure requirements, appointment restrictions, and requirements for resident directors in Singapore

Employment Act (Cap. 91): Though directors are typically not covered, provides baseline employment standards including working hours, leave entitlements, and salary structures that may be referenced as best practices

Securities and Futures Act (Cap. 289): Relevant for listed companies, covering insider trading provisions, disclosure obligations, and trading restrictions for directors

Income Tax Act (Cap. 134): Governs tax treatment of director compensation, stock options, benefits, and related reporting requirements

Personal Data Protection Act 2012: Regulates the handling and protection of personal information and data protection obligations

Competition Act (Cap. 50B): Relevant for non-compete provisions and trade restrictions in director contracts

Central Provident Fund Act (Cap. 36): Covers CPF contributions and retirement benefits requirements if applicable to the director

Corporate Governance Code: Provides governance guidelines and compliance requirements, particularly important for listed companies

Workplace Safety and Health Act: Establishes general duty of care and safety responsibilities for company leadership

Prevention of Corruption Act (Cap. 241): Sets out anti-bribery provisions and ethical conduct requirements for directors

Key Contract Components: Essential elements including role definition, remuneration, appointment term, termination clauses, confidentiality obligations, non-compete provisions, IP rights, conflict of interest, and indemnification clauses

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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