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The Executive Employment Agreement serves as the foundational document governing the employment relationship between an organization and its senior executives in Canada. This agreement is essential when hiring or promoting individuals into executive positions such as CEO, CFO, or other C-suite roles. It typically includes detailed provisions regarding compensation packages, performance expectations, equity participation, and protection of company interests through confidentiality and non-competition clauses. The document must comply with both federal and provincial Canadian employment laws while addressing the unique aspects of executive-level employment, including complex compensation structures and corporate governance responsibilities. It's particularly crucial for publicly traded companies and organizations requiring specific executive accountability measures.

1. Parties: Identifies the employer corporation and the executive employee who are entering into the agreement

2. Background: Provides context for the agreement, including the nature of the employer's business and the executive position being filled

3. Definitions: Defines key terms used throughout the agreement

4. Position and Duties: Specifies the executive's title, role, responsibilities, and reporting relationships

5. Term: Defines whether the agreement is for a fixed term or indefinite period

6. Compensation: Details base salary, review periods, and payment terms

7. Benefits and Perquisites: Outlines health benefits, insurance, vacation entitlement, and executive perks

8. Bonus and Incentive Compensation: Describes annual bonus structure, long-term incentives, and performance metrics

9. Expenses: Covers business expense reimbursement policies and procedures

10. Confidentiality: Defines confidential information and obligations to maintain confidentiality

11. Intellectual Property: Addresses ownership and protection of IP created during employment

12. Non-Competition: Specifies restrictions on competing activities during and after employment

13. Non-Solicitation: Prohibits solicitation of employees, customers, or suppliers

14. Termination: Details grounds for termination and consequences of various termination scenarios

15. Severance: Outlines severance payments and benefits upon various types of termination

16. Return of Property: Requires return of company property upon termination

17. Governing Law: Specifies applicable law and jurisdiction

18. General Provisions: Includes standard boilerplate clauses like entire agreement, amendments, and notices