The Executive Employment Agreement is a crucial legal document used when hiring senior-level executives in the Philippines. It serves as the primary contract governing the relationship between a company and its executive employees, ensuring compliance with Philippine labor laws while protecting both parties' interests. This agreement is particularly important for documenting complex compensation arrangements, performance expectations, and special terms unique to executive positions. It typically includes comprehensive provisions on confidentiality, intellectual property rights, non-competition, and post-employment obligations, all tailored to meet Philippine legal requirements. The document is essential for companies seeking to establish clear, legally enforceable terms with their executive leadership while maintaining compliance with local employment regulations and corporate governance standards.
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1. Parties: Identification of the employer company and the executive employee, including their complete legal names and addresses
2. Background: Context of the agreement, including the nature of the employer's business and the executive position being filled
3. Definitions: Key terms used throughout the agreement, including specific corporate terminology and Philippine law references
4. Appointment and Term: Details of the executive position, effective date, and duration of employment
5. Duties and Responsibilities: Comprehensive outline of the executive's role, reporting structure, and key performance areas
6. Place of Work: Primary work location and any mobility requirements
7. Compensation and Benefits: Base salary, bonuses, stock options, and mandatory benefits under Philippine law
8. Working Hours and Leave: Work schedule, flexibility provisions, and various leave entitlements
9. Confidentiality: Protection of company information and trade secrets
10. Intellectual Property: Ownership of work products and innovations
11. Non-Competition and Non-Solicitation: Restrictions on competitive activities during and after employment
12. Termination: Grounds and procedures for ending employment, including notice periods
13. Post-Termination Obligations: Continuing duties after employment ends
14. Governing Law: Application of Philippine law and jurisdiction
15. General Provisions: Standard clauses including severability, entire agreement, and amendments
1. Probationary Period: Details of any initial probationary period - optional for very senior executives
2. International Travel: Terms for international assignments and travel - included if role requires significant international work
3. Change of Control: Provisions addressing executive's rights in case of company ownership changes - relevant for publicly traded companies
4. Garden Leave: Provisions for paid leave during notice period - included for sensitive executive positions
5. Relocation Package: Terms for relocation assistance - included if executive needs to relocate
6. Performance Targets: Specific KPIs and performance metrics - included if bonus is performance-based
7. Board Position: Terms relating to board membership - included if executive will serve on board
8. Regulatory Compliance: Special compliance obligations - included for regulated industries
9. Dispute Resolution: Alternative dispute resolution procedures - optional alternative to court jurisdiction
1. Schedule 1 - Compensation Package: Detailed breakdown of salary, bonuses, and benefits structure
2. Schedule 2 - Job Description: Detailed description of duties, responsibilities, and reporting relationships
3. Schedule 3 - Benefits Summary: Comprehensive list of benefits including mandatory Philippine benefits
4. Schedule 4 - Company Policies: Key company policies applicable to the executive
5. Schedule 5 - Performance Metrics: Detailed KPIs and performance evaluation criteria
6. Schedule 6 - Stock Option Plan: Details of any equity compensation program
7. Appendix A - Statutory Declaration: Executive's declaration of compliance with Philippine employment laws
8. Appendix B - Confidentiality Agreement: Detailed confidentiality terms and protected information
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Technology and Communications
Manufacturing
Real Estate and Property Development
Retail and Consumer Goods
Healthcare and Pharmaceuticals
Energy and Utilities
Professional Services
Transportation and Logistics
Education
Hospitality and Tourism
Mining and Natural Resources
Construction and Infrastructure
Media and Entertainment
Business Process Outsourcing
Relevant Teams
Human Resources
Legal
Executive Management
Corporate Governance
Board Secretariat
Compensation and Benefits
Talent Acquisition
Corporate Affairs
Compliance
Risk Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Technology Officer
Chief Marketing Officer
Managing Director
Country Manager
Regional Director
Executive Vice President
Senior Vice President
Division President
General Manager
Executive Director
Head of Department
Chief Legal Officer
Chief Human Resources Officer
Chief Investment Officer
Chief Risk Officer
Chief Strategy Officer
Chief Information Officer
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