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Executive Employment Agreement Template for Singapore

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Key Requirements PROMPT example:

Executive Employment Agreement

"I need an Executive Employment Agreement for hiring a new CFO in Singapore starting March 2025, including share options and specific performance targets for the financial services sector, with a strong focus on compliance with MAS regulations."

Document background
The Executive Employment Agreement is a crucial document for establishing senior-level employment relationships in Singapore. It is designed to comply with Singapore's Employment Act and related legislation while protecting both employer and executive interests. This agreement is typically used when hiring C-suite executives, senior managers, or other high-level personnel, containing detailed provisions for compensation, duties, confidentiality, non-compete clauses, and termination terms. The document should be tailored to reflect Singapore's specific legal requirements and business practices.
Suggested Sections

1. Parties: Identification of the employer company and the executive employee

2. Background: Context of the employment relationship and basis for the agreement

3. Definitions: Key terms and their meanings used throughout the agreement

4. Appointment and Term: Executive's position, appointment details, and duration of employment

5. Remuneration and Benefits: Base salary, bonuses, allowances, and other benefits

6. Working Hours and Leave: Work schedule, annual leave, sick leave, and other time-off provisions

7. Duties and Responsibilities: Executive's role, authority, and performance expectations

8. Confidentiality: Protection of company confidential information and trade secrets

9. Intellectual Property: Ownership and rights to inventions, works created during employment

10. Non-Competition and Non-Solicitation: Post-employment restrictions on competition and employee/client solicitation

11. Termination: Grounds for termination, notice periods, and consequences

Optional Sections

1. Equity Participation: Terms of stock options, share schemes, or other equity compensation

2. Change of Control: Provisions relating to company ownership changes or mergers

3. Garden Leave: Terms for paid leave during notice period with restricted activities

4. International Assignment: Terms specific to overseas postings or international work

5. Director Provisions: Additional terms if executive serves as company director

Suggested Schedules

1. Schedule 1: Compensation Package: Detailed breakdown of salary, bonuses, and benefits structure

2. Schedule 2: Job Description: Detailed outline of role, responsibilities, and reporting structure

3. Schedule 3: Company Policies: Reference to applicable company policies and procedures

4. Schedule 4: Performance Metrics: KPIs and performance evaluation criteria

5. Appendix A: Share Option Plan: Details of any equity compensation arrangements

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

Employment Act (Cap. 91): Primary legislation governing employment relationships in Singapore, covering all employees including executives and managers since April 2019. Sets out basic terms and working conditions.

Employment Claims Act 2016: Establishes framework for resolving salary-related disputes and other employment claims in Singapore.

Retirement and Re-employment Act: Governs retirement age and re-employment obligations for employees in Singapore.

Personal Data Protection Act 2012: Regulates collection, use, and disclosure of personal data; relevant for handling executive's personal information.

Central Provident Fund Act: Mandates contributions to national social security system for retirement, healthcare, and housing needs.

Work Injury Compensation Act: Provides framework for compensation in case of work-related injuries and occupational diseases.

Workplace Safety and Health Act: Sets standards for workplace safety and health protection measures.

Employment of Foreign Manpower Act: Regulates employment of foreign workers and executives, including work pass requirements.

Companies Act: Relevant for executive duties and obligations if the position includes directorship responsibilities.

Competition Act: Important for structuring non-compete clauses and restrictions on post-employment activities.

Securities and Futures Act: Relevant for executives in listed companies, governing securities trading and insider information.

Basic Employment Terms: Essential contract elements including salary, benefits, position, duties, probation period, working hours, and leave entitlements.

Executive Compensation: Specific provisions for stock options, equity compensation, performance bonuses, and golden parachute clauses.

Protection Clauses: Includes confidentiality obligations, IP rights, non-compete, non-solicitation, and garden leave provisions.

Termination Provisions: Covers notice periods, grounds for termination, post-employment obligations, and severance payments.

Compliance Requirements: Mandatory obligations including CPF contributions, tax reporting, and employment pass requirements for foreigners.

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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