The Executive Employment Agreement serves as a crucial legal document for organizations operating in Malta when hiring senior-level executives and key management personnel. This agreement is specifically designed to comply with Maltese employment law, including the Employment and Industrial Relations Act and related regulations, while addressing the unique requirements of executive-level positions. It is typically used when appointing C-suite executives, managing directors, and other senior leaders, containing detailed provisions for compensation, benefits, duties, and protections for both the company and the executive. The document includes comprehensive terms regarding confidentiality, non-competition, and intellectual property rights, reflecting the significant responsibilities and access to sensitive information that executive positions entail. It's particularly important for regulated industries where executive appointments may require regulatory approval or notification.
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1. Parties: Identification of the employer company and the executive employee
2. Background: Context of the agreement and brief description of the executive position
3. Definitions: Definitions of key terms used throughout the agreement
4. Appointment and Term: Details of the position, effective date, and duration (if fixed-term)
5. Duties and Responsibilities: Executive's primary responsibilities, reporting lines, and authority
6. Place of Work: Primary work location and travel requirements
7. Working Hours: Expected working hours while acknowledging flexibility required for executive roles
8. Remuneration: Base salary, review provisions, and payment arrangements
9. Benefits: Standard benefits package including healthcare, insurance, and other perks
10. Annual Leave: Holiday entitlement and conditions
11. Sick Leave and Other Absences: Sick pay and other leave entitlements
12. Confidentiality: Protection of company confidential information
13. Intellectual Property: Ownership of work product and innovations
14. Non-Competition and Non-Solicitation: Post-employment restrictions and their geographical/temporal scope
15. Termination: Grounds for termination and notice periods
16. Garden Leave: Company's right to place executive on garden leave
17. Return of Company Property: Obligations upon termination regarding company assets
18. Data Protection: Handling of personal data under GDPR and local law
19. Governing Law: Specification of Maltese law as governing law
20. Entire Agreement: Integration clause and relationship to other agreements
1. Probationary Period: Include if the executive will be subject to a probationary period (less common for senior executives)
2. Director's Duties: Include if the executive will also serve as a company director
3. Share Options: Include if the executive will participate in share option schemes
4. Change of Control: Include provisions relating to company sale or merger
5. International Travel: Include if role requires significant international travel
6. Regulatory Compliance: Include if position requires regulatory approval or registration
7. Corporate Governance: Include specific corporate governance responsibilities if applicable
8. Severance Package: Include if specific severance terms are agreed beyond statutory requirements
1. Schedule 1 - Position Description: Detailed description of the executive's role and responsibilities
2. Schedule 2 - Remuneration Structure: Detailed breakdown of salary, bonuses, and other financial benefits
3. Schedule 3 - Bonus Scheme: Details of any performance-based bonus arrangements
4. Schedule 4 - Share Option Plan: Terms of any share option or equity participation schemes
5. Schedule 5 - Company Policies: List of applicable company policies and procedures
6. Schedule 6 - Benefits Package: Detailed description of all benefits and allowances
7. Appendix A - Restricted Activities: Specific details of restricted activities under non-compete provisions
8. Appendix B - Approved Directorships: List of pre-approved external directorships or appointments
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Manufacturing
Professional Services
Healthcare
Real Estate
Tourism and Hospitality
Maritime
Gaming
Telecommunications
Pharmaceutical
Insurance
Banking
Retail
Energy
Relevant Teams
Human Resources
Legal
Board of Directors
Executive Committee
Senior Management
Corporate Governance
Compliance
Company Secretariat
Risk Management
Corporate Affairs
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Technology Officer
Managing Director
Executive Director
Country Manager
General Manager
Regional Director
Head of Department
Vice President
Senior Vice President
Executive Vice President
Division Head
Chief Commercial Officer
Chief Investment Officer
Chief Risk Officer
Chief Legal Officer
Chief Strategy Officer
Managing Partner
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