The Executive Employment Contract is a crucial legal document used when appointing senior-level employees in organizations operating under Austrian jurisdiction. This agreement is specifically designed to address the unique aspects of executive employment relationships, incorporating provisions that reflect the enhanced responsibilities and privileges of executive positions while ensuring compliance with Austrian labor law. The document is typically used for C-suite executives, managing directors, and other senior leaders who have significant decision-making authority and responsibility within the organization. It includes comprehensive terms covering remuneration, benefits, duties, confidentiality, and post-employment obligations, while taking into account specific Austrian legal requirements regarding executive employees, such as working time exemptions and special termination provisions. The contract also addresses corporate governance requirements and often includes provisions for equity participation or long-term incentive plans.
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Key Requirements PROMPT example:
Executive Employment Contract
"I need an Executive Employment Contract under Austrian law for hiring a new Chief Technology Officer for our software company, starting March 1, 2025, including provisions for stock options and international travel, with specific focus on IP protection and non-compete clauses."
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1. Parties: Identification of the employer company and the executive employee
2. Background: Context of the appointment and any relevant corporate structure information
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Position title, duties, and duration of appointment (fixed-term or indefinite)
5. Duties and Responsibilities: Detailed description of executive role, reporting lines, and scope of authority
6. Place of Work: Primary workplace location and travel requirements
7. Working Time: Working hours arrangements, acknowledging executive exemption from standard working time restrictions
8. Remuneration: Base salary, payment intervals, and review process
9. Variable Compensation: Bonus schemes, performance criteria, and payment terms
10. Benefits: Standard benefits package including insurance, pension, and other perks
11. Vacation and Leave: Annual leave entitlement and other leave rights
12. Illness and Incapacity: Sick leave terms and long-term incapacity provisions
13. Confidentiality: Protection of company confidential information
14. Intellectual Property: Assignment of IP rights created during employment
15. Data Protection: Compliance with GDPR and Austrian data protection laws
16. Termination: Notice periods, grounds for termination, and immediate termination provisions
17. Post-Termination Obligations: Return of company property and ongoing confidentiality obligations
18. Governing Law and Jurisdiction: Austrian law as governing law and jurisdiction for disputes
1. Non-Competition: Post-employment competition restrictions, used when protecting business interests is crucial
2. Non-Solicitation: Restrictions on soliciting employees or customers, used to protect company relationships
3. Garden Leave: Right to place executive on paid leave during notice period, used for sensitive positions
4. International Travel: Specific provisions for international assignments or frequent travel, used for global roles
5. Company Car: Terms of company car provision, used when offering vehicle as benefit
6. Stock Options/Share Schemes: Participation in equity-based compensation programs, used for long-term incentivization
7. Secondary Employment: Restrictions on additional employment or board positions, used for full-time executives
8. Relocation: Relocation assistance and terms, used when executive needs to relocate
9. Change of Control: Special provisions in case of company ownership change, used for senior executives
10. Legal Fees: Coverage of legal fees for contract review, used to ensure independent advice
1. Schedule 1 - Job Description: Detailed outline of position responsibilities and requirements
2. Schedule 2 - Bonus Scheme: Detailed terms of variable compensation and performance metrics
3. Schedule 3 - Benefits Package: Comprehensive list of benefits and their terms
4. Schedule 4 - Company Policies: Key company policies applicable to the executive
5. Schedule 5 - Stock Option Terms: Detailed terms of any equity participation
6. Appendix A - Confidential Information: Specific definition of confidential information
7. Appendix B - Approved Outside Activities: List of pre-approved board positions or other activities
8. Appendix C - Travel Policy: Specific travel and expense policies applicable to the executive
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Technology
Healthcare
Retail
Professional Services
Energy
Telecommunications
Real Estate
Construction
Transportation
Hospitality
Media and Entertainment
Pharmaceuticals
Consumer Goods
Industrial Services
Relevant Teams
Human Resources
Legal
Executive Management
Board of Directors
Corporate Governance
Compensation and Benefits
Talent Acquisition
Corporate Secretary
Compliance
Finance
Relevant Roles
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Chief Operating Officer (COO)
Chief Technology Officer (CTO)
Managing Director
Executive Director
General Manager
Country Manager
Regional Director
Vice President
Senior Vice President
Division Head
Department Head
Executive Vice President
Chief Marketing Officer (CMO)
Chief Human Resources Officer (CHRO)
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