The Key Person Agreement is utilized when a company needs to formalize the employment relationship with individuals who are essential to its operations, success, or strategic direction. This document type is particularly relevant in the Danish business environment, where it must balance robust employee protections with company interests. The agreement typically includes comprehensive terms covering employment conditions, remuneration packages, incentive schemes, and protective covenants, all while ensuring compliance with Danish employment law. It's especially important for roles with access to sensitive information, significant decision-making authority, or unique technical expertise. The document incorporates specific Danish legal requirements regarding notice periods, holiday entitlements, and restrictions on post-employment activities, making it distinct from standard employment contracts.
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Key Requirements PROMPT example:
Key Person Agreement
I need a Key Person Agreement under Danish law for our incoming Chief Technology Officer in the renewable energy sector, starting March 2025, with special focus on IP protection and including share options scheme and international travel provisions.
1. Parties: Identification of the employer company and the key employee
2. Background: Context of the agreement and the key person's role
3. Definitions: Key terms used throughout the agreement
4. Appointment and Duties: Position, role, responsibilities, and reporting lines
5. Duration and Terms: Commencement date, term, and notice periods
6. Remuneration: Base salary, benefits, and review mechanisms
7. Working Hours and Location: Expected working patterns and primary workplace
8. Holiday Entitlement: Holiday rights under Danish Holiday Act
9. Sickness and Absence: Procedures for reporting absence and sick pay
10. Confidentiality: Protection of company information and trade secrets
11. Intellectual Property: Ownership and assignment of IP created during employment
12. Data Protection: Compliance with Danish Data Protection Act
13. Termination: Grounds for termination and consequences
14. Post-Termination Obligations: Continuing obligations after employment ends
15. Governing Law and Jurisdiction: Application of Danish law and dispute resolution
1. Share Options/Incentives: Terms of share-based incentives, if offered
2. Non-Compete Obligations: Post-employment competition restrictions, if required
3. Non-Solicitation: Restrictions on soliciting employees/clients, if needed
4. Garden Leave: Provisions for garden leave during notice period
5. International Travel: Terms for international assignments if role requires
6. Board Position: Terms of board membership if applicable
7. Bonus Scheme: Details of performance-related bonuses if offered
8. Company Car: Terms of company car provision if included
9. Insurance Benefits: Additional insurance coverage if provided
1. Job Description: Detailed description of role and responsibilities
2. Remuneration Package: Complete breakdown of compensation elements
3. Share Option Terms: Detailed terms of any share option scheme
4. Bonus Scheme Rules: Detailed rules and calculations for bonus payments
5. Company Policies: Key company policies applicable to the position
6. Benefits Summary: Detailed description of all benefits provided
7. Restricted Activities: Detailed list of restricted activities under non-compete
8. Data Processing Terms: Detailed data protection and processing requirements
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Manufacturing
Pharmaceuticals
Professional Services
Energy
Telecommunications
Healthcare
Biotechnology
Consumer Goods
Maritime
Clean Technology
Research and Development
Relevant Teams
Legal
Human Resources
Executive Leadership
Research and Development
Product Development
Sales Leadership
Technology
Finance
Operations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Technology Officer
Chief Operating Officer
Managing Director
Senior Vice President
Head of Research
Technical Director
Chief Scientific Officer
Head of Development
Principal Engineer
Key Account Director
Senior Research Scientist
Head of Innovation
Principal Architect
Lead Developer
Head of Sales
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