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Executive Compensation Agreement

Executive Compensation Agreement Template for Australia

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Key Requirements PROMPT example:

Executive Compensation Agreement

"I need an Executive Compensation Agreement for our incoming CEO of an ASX-listed mining company, starting March 1, 2025, including provisions for both short and long-term incentives, with particular emphasis on ESG performance metrics and change of control provisions."

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Document background
The Executive Compensation Agreement is a sophisticated employment contract designed for senior leadership roles in Australian organizations. It is typically used when appointing or promoting individuals to executive positions, particularly in publicly listed companies, large private enterprises, or regulated industries. The agreement comprehensively addresses all aspects of executive remuneration, including fixed and variable components, equity arrangements, and benefits, while ensuring compliance with Australian regulatory requirements including the Corporations Act, ASX listing rules (for listed entities), and taxation laws. This document is crucial for establishing clear performance expectations, protecting company interests through appropriate restraints and confidentiality provisions, and providing executives with security regarding their compensation and benefits.
Suggested Sections

1. Parties: Identification of the employer company and the executive

2. Background: Context of the agreement and executive's appointment

3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation

4. Appointment and Term: Position title, duties, term of employment (fixed or ongoing)

5. Executive's Duties and Obligations: Key responsibilities, performance standards, and compliance requirements

6. Base Salary: Annual base salary, review mechanisms, and payment arrangements

7. Short-Term Incentives: Annual bonus structure, KPIs, and payment conditions

8. Long-Term Incentives: Equity-based compensation, vesting conditions, and performance hurdles

9. Superannuation: Superannuation arrangements and contributions

10. Benefits and Allowances: Additional benefits including insurance, car allowance, and other perks

11. Leave Entitlements: Annual, personal, long service and other leave provisions

12. Termination: Grounds for termination, notice periods, and payments on termination

13. Post-Employment Obligations: Confidentiality, intellectual property, and restraint of trade

14. General Provisions: Standard clauses including governing law, entire agreement, and variation

Optional Sections

1. Change in Control: Provisions dealing with change in company ownership or control - include for listed companies or where M&A activity is likely

2. International Assignment: Terms for overseas work including allowances and tax equalization - include if executive may work internationally

3. Sign-on Benefits: Special benefits or payments to compensate for leaving previous employment - include for new hires

4. Malus and Clawback: Provisions for reducing or recovering incentive payments - include for listed companies or regulated industries

5. Garden Leave: Terms for placing executive on paid leave during notice period - include if strong commercial protections needed

6. Shareholder Approval: Conditions requiring shareholder approval for certain benefits - include for listed companies

7. Board Position: Terms of appointment to company board - include if executive will be a director

Suggested Schedules

1. Position Description: Detailed outline of role, responsibilities, and reporting relationships

2. Short-Term Incentive Plan Rules: Detailed terms and conditions of the annual bonus plan

3. Long-Term Incentive Plan Rules: Terms of equity-based incentives including vesting conditions

4. Company Policies: List of key policies the executive must comply with

5. Restraint of Trade: Detailed non-compete and non-solicitation provisions with cascading clauses

6. Performance Criteria: Detailed KPIs and performance measures for incentive calculations

7. Approved Outside Interests: List of pre-approved external commitments or directorships

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
















































Clauses









































Relevant Industries

Financial Services

Mining and Resources

Technology

Healthcare

Retail

Manufacturing

Professional Services

Telecommunications

Energy

Real Estate

Infrastructure

Consumer Goods

Media and Entertainment

Relevant Teams

Human Resources

Legal

Board of Directors

Executive Leadership

Compensation Committee

Company Secretariat

Finance

Corporate Governance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Chief Technology Officer

Chief Marketing Officer

Managing Director

Executive Director

General Manager

Division President

Regional Director

Executive Vice President

Group Executive

Head of Department

Senior Vice President

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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