The Executive Employment Agreement is a crucial document used when engaging senior-level executives in Australian organizations. It establishes the formal employment relationship between a company and its executive personnel, incorporating sophisticated terms appropriate for high-level positions. This agreement type is essential for clearly defining executive roles, responsibilities, and remuneration packages while ensuring compliance with Australian employment law, including the Fair Work Act 2009 and Corporations Act 2001. The document typically includes detailed provisions for performance expectations, equity participation, protection of company interests through restraint clauses, and complex compensation structures including both short and long-term incentives. It's particularly important for publicly listed companies where executive employment terms may require disclosure under corporate governance requirements.
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1. Parties: Identification of the employer entity and the executive
2. Background: Context of the agreement and general intention of the parties
3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation
4. Appointment and Term: Position title, nature of employment (permanent/fixed-term), commencement date, and probationary period if applicable
5. Duties and Responsibilities: Role description, reporting lines, and key performance obligations
6. Location and Hours: Primary work location and expected working arrangements
7. Remuneration and Benefits: Base salary, superannuation, bonus arrangements, and standard benefits
8. Leave Entitlements: Annual leave, personal/carer's leave, long service leave, and other leave provisions
9. Confidentiality: Protection of confidential information during and post-employment
10. Intellectual Property: Ownership and protection of IP created during employment
11. Restraint of Trade: Post-employment restrictions including non-compete and non-solicitation
12. Termination: Grounds for termination, notice periods, and payments on termination
13. Post-Employment Obligations: Ongoing obligations after employment ends
14. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and variation
1. Equity Participation: Details of share options or other equity arrangements, used when the executive is offered equity as part of compensation
2. Director Duties: Additional obligations if the executive is also appointed as a company director
3. International Travel: Specific provisions for international work requirements and travel policies
4. Change of Control: Special provisions triggered by company sale or merger, used for senior executives
5. Garden Leave: Provisions allowing the company to require the executive to stay away from work during notice period
6. Company Policies: Specific reference to key policies where particular emphasis is needed
7. Secondment: Terms for temporary assignment to related entities or different locations
8. Sign-on Bonus: Terms of any sign-on or commencement payments
9. Relocation: Relocation assistance and related terms where the executive is relocating for the role
1. Schedule 1 - Position Description: Detailed description of role, responsibilities, and KPIs
2. Schedule 2 - Remuneration Details: Comprehensive breakdown of salary package and benefits
3. Schedule 3 - Short-Term Incentive Plan: Detailed terms of annual bonus or other short-term incentives
4. Schedule 4 - Long-Term Incentive Plan: Terms of any long-term incentive or equity plans
5. Schedule 5 - Restraint Provisions: Detailed non-compete and non-solicitation terms with cascading clauses
6. Schedule 6 - Statutory Requirements: Mandatory information required under Fair Work Act
7. Appendix A - Deed of Confidentiality: Detailed confidentiality obligations in deed format
8. Appendix B - Company Policies: List of key company policies applicable to the executive
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Mining and Resources
Healthcare
Manufacturing
Professional Services
Retail
Telecommunications
Construction
Education
Energy
Media and Entertainment
Real Estate
Transportation and Logistics
Relevant Teams
Human Resources
Legal
Company Secretariat
Board of Directors
Executive Committee
Compensation Committee
Governance
Risk and Compliance
Finance
Operations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Technology Officer
Managing Director
Executive Director
General Manager
Regional Director
Division Head
Executive Vice President
Country Manager
State Manager
Group Executive
Senior Vice President
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