The Executive Employment Agreement is a crucial legal document used when appointing senior-level executives in Austria. It establishes the formal employment relationship between a company and its executive employees, incorporating specific requirements under Austrian employment law and corporate regulations. This agreement is typically used for C-level executives, managing directors, and other senior management positions where special provisions regarding authority, responsibility, and compensation need to be clearly defined. The document addresses unique aspects of executive employment such as variable compensation, strategic decision-making powers, and representative authority, while ensuring compliance with Austrian labor law, including the Salaried Employees Act. It also typically includes provisions for confidentiality, non-competition, and intellectual property rights, tailored to the executive nature of the role.
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1. Parties: Identification of the employer company and the executive employee with full legal names and addresses
2. Background: Brief context of the agreement and the executive appointment
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Position title, effective date, and duration of appointment (fixed-term or indefinite)
5. Duties and Responsibilities: Executive's primary responsibilities, reporting lines, and scope of authority
6. Place of Work: Primary work location and any mobility requirements
7. Working Time: Working hours expectations, acknowledging executive exemption from standard working time regulations
8. Remuneration: Base salary, payment intervals, and review mechanisms
9. Variable Compensation: Bonus schemes, performance-based incentives, and calculation methods
10. Benefits: Standard benefits package including insurance, pension, and other perks
11. Vacation and Leave: Annual leave entitlement and public holidays
12. Illness and Incapacity: Sick leave provisions and long-term disability arrangements
13. Confidentiality: Protection of company confidential information
14. Intellectual Property: Ownership of work products and innovations
15. Data Protection: Handling of personal data in compliance with GDPR
16. Termination: Notice periods, grounds for termination, and process
17. Post-Termination Obligations: Continuing duties after employment ends
18. Governing Law: Confirmation of Austrian law application and jurisdiction
19. Entire Agreement: Integration clause and amendment procedures
1. Non-Competition: Post-employment competition restrictions, used when protecting business interests is crucial
2. Non-Solicitation: Restrictions on soliciting employees or customers, used when protecting business relationships is important
3. International Travel: Terms for international assignments or travel, used when role requires significant travel
4. Company Car: Terms of company car provision, used when offering vehicle as benefit
5. Share Options: Share option or equity participation schemes, used when offering equity-based compensation
6. Sign-on Bonus: One-time payment terms for joining, used for attracting key executives
7. Relocation Assistance: Support for relocation, used when executive needs to relocate
8. Garden Leave: Provisions for garden leave during notice period, used for sensitive positions
9. Change of Control: Special provisions in case of company ownership change, used for senior executives
10. Representative Authority: Specific powers of representation, used for executives with external signing authority
1. Schedule 1 - Job Description: Detailed outline of executive's duties and responsibilities
2. Schedule 2 - Bonus Scheme: Detailed terms of variable compensation calculation and targets
3. Schedule 3 - Benefits Package: Comprehensive list of benefits and their terms
4. Schedule 4 - Company Policies: Key company policies applicable to the executive
5. Schedule 5 - Share Option Terms: Detailed terms of any share option or equity participation
6. Appendix A - Confidential Information: Specific definition of confidential information
7. Appendix B - Approved Outside Activities: List of pre-approved external commitments or board positions
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Technology
Professional Services
Healthcare
Retail
Energy
Telecommunications
Real Estate
Construction
Automotive
Pharmaceuticals
Insurance
Media and Entertainment
Transportation and Logistics
Relevant Teams
Human Resources
Legal
Executive Management
Board of Directors
Corporate Governance
Compensation and Benefits
Compliance
Finance
Operations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Managing Director
Executive Director
Country Manager
General Manager
Division Head
Senior Vice President
Regional Director
Department Head
Executive Board Member
Branch Manager
Chief Technology Officer
Chief Marketing Officer
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