This Executive Contract template is designed for use when appointing senior-level executives in organizations operating under Maltese jurisdiction. It's particularly relevant for companies seeking to formalize high-level employment relationships in compliance with Malta's legal framework, including the Employment and Industrial Relations Act and relevant corporate governance requirements. The document should be used when hiring C-suite executives, directors, and other senior management positions, incorporating comprehensive terms for remuneration packages, performance metrics, confidentiality obligations, and post-employment restrictions. It's structured to protect both the company's interests and the executive's rights, with specific attention to Malta's unique business environment and regulatory requirements. The contract includes customizable elements to accommodate various industry sectors and company-specific needs, making it suitable for both Maltese companies and international organizations with operations in Malta.
Executive Contract for Malta
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Key Requirements PROMPT example:
Executive Contract
"I need an Executive Contract under Maltese law for hiring a new Chief Technology Officer starting March 1, 2025, with special attention to intellectual property rights and confidentiality provisions, as we're a fintech company handling sensitive data."
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1. Parties: Identification of the Company and the Executive, including full legal names and registered addresses
2. Background: Context of the appointment, including the position being offered and brief company background
3. Definitions: Key terms used throughout the agreement, including 'Company', 'Board', 'Confidential Information', 'Intellectual Property', etc.
4. Appointment and Term: Details of the executive position, commencement date, and duration of appointment
5. Duties and Responsibilities: Detailed description of executive's role, reporting lines, and key responsibilities
6. Time Commitment and Exclusivity: Working hours, dedication requirements, and any permitted external activities
7. Remuneration and Benefits: Base salary, bonuses, equity arrangements, and other benefits
8. Expenses: Policy on business expenses and reimbursement procedures
9. Leave Entitlements: Annual leave, sick leave, and other permitted absences
10. Confidentiality: Obligations regarding company confidential information
11. Intellectual Property: Assignment of IP rights created during employment
12. Non-Competition and Non-Solicitation: Post-employment restrictions and their geographical/temporal scope
13. Termination: Grounds for termination, notice periods, and consequences
14. Garden Leave: Company's right to place executive on garden leave
15. Return of Company Property: Obligations upon termination regarding company assets and information
16. Data Protection: Compliance with GDPR and local data protection laws
17. Governing Law and Jurisdiction: Specification of Maltese law and courts' jurisdiction
1. Probationary Period: Optional provision for initial trial period - typically used for first-time executive appointments
2. Relocation Package: Terms of relocation assistance if the executive is moving from another country/city
3. Share Options: Detailed terms of any share option scheme - used when equity participation is offered
4. Change of Control: Special provisions in case of company merger/acquisition - relevant for listed or acquisition-target companies
5. International Travel: Specific provisions for extensive international travel - used when role requires significant global presence
6. Representation on Board: Terms of board membership - used when executive is also appointed as company director
7. Insurance Coverage: Details of additional insurance coverage - relevant for high-risk industries or jurisdictions
1. Schedule 1 - Remuneration Package: Detailed breakdown of salary, bonuses, and benefits structure
2. Schedule 2 - Job Description: Detailed outline of roles, responsibilities, and KPIs
3. Schedule 3 - Share Option Terms: Details of any share option or equity participation scheme
4. Schedule 4 - Company Policies: Key company policies applicable to the executive
5. Schedule 5 - Restricted Activities: Specific list of prohibited competitive activities
6. Appendix A - Performance Metrics: Specific performance indicators and bonus calculation methodology
7. Appendix B - Benefits Summary: Detailed description of all benefits and allowances
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Manufacturing
Professional Services
Healthcare
Telecommunications
Real Estate
Gaming and iGaming
Maritime and Shipping
Tourism and Hospitality
Retail and Consumer Goods
Energy and Utilities
Pharmaceutical
Construction and Development
Education
Relevant Teams
Human Resources
Legal
Finance
Operations
Information Technology
Marketing
Sales
Research and Development
Corporate Affairs
Strategy
Business Development
Product Management
Risk Management
Compliance
Corporate Governance
Relevant Roles
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Chief Operating Officer (COO)
Chief Technology Officer (CTO)
Chief Marketing Officer (CMO)
Managing Director
Executive Director
Country Manager
Regional Director
Vice President
General Manager
Head of Department
Executive Vice President
Division President
Senior Vice President
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