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Founder Employment Agreement

Founder Employment Agreement Template for Singapore

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Key Requirements PROMPT example:

Founder Employment Agreement

"Need a Founder Employment Agreement for my Singapore-based AI startup, where I'll be CEO with a 30% equity stake and will need provisions for international travel as we're expanding to Southeast Asia from March 2025."

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Document background
The Founder Employment Agreement is a crucial document used when formalizing the employment relationship between a company founder and their company in Singapore. This agreement is particularly important as it addresses the dual role of the founder as both an employee and a key stakeholder in the business. It includes provisions for compensation, equity arrangements, intellectual property protection, and post-employment obligations, while ensuring compliance with Singapore's employment laws and corporate governance requirements. The agreement typically becomes necessary during company formation, funding rounds, or when formalizing previously informal arrangements.
Suggested Sections

1. Parties: Identification of the company and founder

2. Background: Context of founder's relationship with company and purpose of agreement

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position, duties, and duration of employment

5. Compensation and Benefits: Salary, bonuses, and other benefits including CPF contributions

6. Intellectual Property Rights: Assignment of IP created during employment and related obligations

7. Confidentiality: Protection of company information and trade secrets

8. Termination: Grounds and process for ending employment, notice periods, and obligations

9. Governing Law: Singapore law as applicable jurisdiction and dispute resolution mechanisms

Optional Sections

1. Equity Arrangements: Share options, vesting schedules, and other equity-based compensation terms

2. Non-Competition: Post-employment restrictions on competing activities and solicitation of employees/clients

3. Board Position: Terms of appointment to and removal from the board of directors

4. International Travel: Terms and conditions for international travel and overseas work assignments

Suggested Schedules

1. Schedule 1 - Job Description: Detailed outline of founder's roles, responsibilities, and reporting structure

2. Schedule 2 - Compensation Details: Comprehensive breakdown of salary, bonuses, benefits, and other compensation elements

3. Schedule 3 - Share Option Plan: Details of equity participation including vesting schedule and exercise terms

4. Schedule 4 - Company Policies: Key company policies and procedures applicable to the founder

5. Schedule 5 - Restricted Activities: Specific list of prohibited competitive activities and territorial restrictions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Employment Act (Chapter 91): Primary legislation governing employment relationships in Singapore, covering basic terms and conditions, salary protection, working hours, rest days, leave entitlements, and notice periods

Employment of Foreign Manpower Act: Regulates the employment of foreign workers in Singapore, including work pass requirements and compliance with Ministry of Manpower (MOM) regulations

Companies Act (Chapter 50): Governs corporate entities in Singapore, including directors' duties, fiduciary obligations, and corporate governance requirements

Central Provident Fund Act: Mandates and regulates the national savings scheme including mandatory CPF contributions and applicable rates for employers and employees

Personal Data Protection Act 2012: Governs the collection, use, disclosure, and care of personal data, establishing data protection obligations for employers

Industrial Relations Act: Establishes the framework for employment relations and provides mechanisms for dispute resolution between employers and employees

Income Tax Act: Regulates the tax treatment of compensation, including salary, bonuses, and employee stock options/share schemes

Competition Act: Provides framework for acceptable competitive practices, relevant for non-compete provisions and trade restrictions in employment agreements

Employment Claims Act 2016: Establishes framework for resolution of employment disputes and salary-related claims

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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