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The Executive Employment Agreement is a crucial legal document used when appointing senior management personnel in Nigeria. It serves as the primary contract between a company and its executive employees, establishing comprehensive terms of employment while ensuring compliance with Nigerian employment law, including the Labour Act, CAMA 2020, and relevant regulatory requirements. This agreement is essential for protecting both the company's interests and the executive's rights, covering key aspects such as duties, compensation, benefits, confidentiality, intellectual property rights, and post-employment restrictions. It's particularly important in the Nigerian business context where clear delineation of executive responsibilities and benefits is crucial for corporate governance and regulatory compliance.

1. Parties: Identification of the employer company and the executive employee, including their respective addresses and registration/identification details

2. Background: Context of the appointment and brief description of the company's business

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Details of the executive position, effective date, and duration of employment (fixed-term or permanent)

5. Duties and Responsibilities: Detailed description of executive's role, reporting lines, and key responsibilities

6. Place of Work: Primary work location and travel requirements

7. Hours of Work: Working hours expectations while acknowledging executive flexibility

8. Remuneration: Base salary, payment frequency, and review mechanisms

9. Bonuses and Incentives: Performance-based compensation structures and criteria

10. Benefits: Standard executive benefits including healthcare, pension, and insurance

11. Leave Entitlements: Annual leave, public holidays, and other leave provisions

12. Expenses: Business expense reimbursement policy and procedures

13. Confidentiality: Protection of company confidential information and trade secrets

14. Intellectual Property: Ownership of work product and innovations

15. Non-Competition and Non-Solicitation: Post-employment restrictions and their geographical/temporal scope

16. Termination: Grounds for termination, notice periods, and procedures

17. Garden Leave: Company's right to place executive on garden leave

18. Company Policies: Compliance with company policies and procedures

19. Governing Law: Nigerian law as governing law and jurisdiction

20. Entire Agreement: Integration clause and relationship to other agreements