The Executive Employment Agreement is a crucial legal document used when appointing senior executives in organizations operating within Saudi Arabia. This agreement is essential for establishing clear terms of employment for high-level positions while ensuring compliance with Saudi Labor Law and related regulations. It is particularly important given the specific requirements of Saudi Arabian employment law, including mandatory provisions regarding working hours, leave entitlements, end-of-service benefits, and Saudization requirements. The agreement typically includes comprehensive terms covering executive compensation, performance expectations, confidentiality obligations, and post-employment restrictions, while accounting for local business practices and cultural considerations. It's designed to protect both the employer's interests and the executive's rights while maintaining alignment with corporate governance standards and regulatory requirements in Saudi Arabia.
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1. Parties: Identification of the employer company and the executive employee, including full legal names and addresses
2. Background: Context of the appointment and brief description of the executive position
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Executive's role, position title, and duration of employment (fixed-term or unlimited)
5. Duties and Responsibilities: Detailed description of executive's role, reporting lines, and key responsibilities
6. Place of Work: Primary work location and potential travel requirements
7. Remuneration and Benefits: Base salary, allowances, bonuses, and other benefits as per Saudi Labor Law
8. Working Hours and Leave: Working schedule, vacation entitlement, and other leave rights
9. Confidentiality: Protection of company confidential information and trade secrets
10. Intellectual Property: Ownership and rights to work product and innovations
11. Non-Competition and Non-Solicitation: Post-employment restrictions in accordance with Saudi law
12. Termination: Grounds for termination, notice periods, and consequences
13. End of Service Benefits: Calculation and payment of end of service gratuity as per Saudi Labor Law
14. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanism
1. Performance Targets: Specific KPIs and performance evaluation criteria - include for performance-based compensation structures
2. Share Options/Long-Term Incentives: Details of any share-based compensation - include if equity compensation is offered
3. International Travel: Specific provisions for international assignments - include if role requires significant international travel
4. Corporate Governance: Additional responsibilities related to board meetings and corporate governance - include for C-suite executives
5. Compliance with Shari'ah: Specific provisions ensuring compliance with Islamic law - include for financial institutions or if specifically required
6. Change of Control: Provisions addressing executive's rights in case of company ownership change - include for senior executives
7. Garden Leave: Provisions for placing executive on paid leave during notice period - include for sensitive positions
8. Retention Bonus: Special bonus arrangements for retention purposes - include if specific retention incentives are offered
1. Schedule 1 - Compensation Details: Detailed breakdown of salary components, allowances, and benefits
2. Schedule 2 - Job Description: Detailed description of roles, responsibilities, and reporting structure
3. Schedule 3 - Performance Bonus Scheme: Details of performance evaluation criteria and bonus calculation methodology
4. Schedule 4 - Company Policies: List of applicable company policies and procedures
5. Schedule 5 - Benefits Package: Details of insurance, accommodation, transportation, and other benefits
6. Appendix A - Code of Conduct: Company's code of conduct and ethical guidelines
7. Appendix B - Confidentiality Agreement: Detailed confidentiality terms and protected information
8. Appendix C - Share Option Plan Rules: Terms and conditions of any share option or equity participation scheme
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Technology
Manufacturing
Healthcare
Real Estate & Construction
Energy & Utilities
Telecommunications
Retail & Consumer Goods
Professional Services
Education
Transportation & Logistics
Mining & Resources
Media & Entertainment
Hospitality & Tourism
Relevant Teams
Human Resources
Legal
Executive Management
Board Secretariat
Compliance
Corporate Governance
Finance
Administration
Relevant Roles
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Chief Operating Officer (COO)
Chief Technology Officer (CTO)
Chief Marketing Officer (CMO)
Managing Director
General Manager
Executive Director
Regional Director
Vice President
Senior Vice President
Country Manager
Division Head
Executive Vice President
Head of Department
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