Executive Employment Agreement
An Executive Employment Agreement, also know as an Executive Employment Contract, is a legal contract between two Parties: a Company (the Employer), hiring the Executive, and the Executive, generally a person with high qualifications, skills and professional experience. This type of contract is used for hiring positions such as: Managing Director, Sales Manager, Financial Manager, Branch Manager, etc.
The purpose of this agreement is to outline what both parties expect from each other, or in other words, specify the terms of the Executive´s employment, in order to avoid any misunderstanding later. Executive Employment Agreements are often created when an executive joins a company or when he/she receives some sort of promotion within the company that changes his/her professional status. These agreements often include more elements than regular employment agreements due to the demands of the position.
The Executive employment Agreement is drafted by the Employer. In the main clauses of the contract (Compensation, Executive Benefits, Work Location, Applicable Law and Competent jurisdiction, etc.) a number of alternatives have been provided, for the most appropriate option to be selected according to the relationship between the Employer and the Executive.
Index of the contract