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Key Person Agreement

Key Person Agreement Template for Denmark

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Key Person Agreement

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Document background
The Key Person Agreement is utilized when a company needs to formalize the employment relationship with individuals who are essential to its operations, success, or strategic direction. This document type is particularly relevant in the Danish business environment, where it must balance robust employee protections with company interests. The agreement typically includes comprehensive terms covering employment conditions, remuneration packages, incentive schemes, and protective covenants, all while ensuring compliance with Danish employment law. It's especially important for roles with access to sensitive information, significant decision-making authority, or unique technical expertise. The document incorporates specific Danish legal requirements regarding notice periods, holiday entitlements, and restrictions on post-employment activities, making it distinct from standard employment contracts.
Suggested Sections

1. Parties: Identification of the employer company and the key employee

2. Background: Context of the agreement and the key person's role

3. Definitions: Key terms used throughout the agreement

4. Appointment and Duties: Position, role, responsibilities, and reporting lines

5. Duration and Terms: Commencement date, term, and notice periods

6. Remuneration: Base salary, benefits, and review mechanisms

7. Working Hours and Location: Expected working patterns and primary workplace

8. Holiday Entitlement: Holiday rights under Danish Holiday Act

9. Sickness and Absence: Procedures for reporting absence and sick pay

10. Confidentiality: Protection of company information and trade secrets

11. Intellectual Property: Ownership and assignment of IP created during employment

12. Data Protection: Compliance with Danish Data Protection Act

13. Termination: Grounds for termination and consequences

14. Post-Termination Obligations: Continuing obligations after employment ends

15. Governing Law and Jurisdiction: Application of Danish law and dispute resolution

Optional Sections

1. Share Options/Incentives: Terms of share-based incentives, if offered

2. Non-Compete Obligations: Post-employment competition restrictions, if required

3. Non-Solicitation: Restrictions on soliciting employees/clients, if needed

4. Garden Leave: Provisions for garden leave during notice period

5. International Travel: Terms for international assignments if role requires

6. Board Position: Terms of board membership if applicable

7. Bonus Scheme: Details of performance-related bonuses if offered

8. Company Car: Terms of company car provision if included

9. Insurance Benefits: Additional insurance coverage if provided

Suggested Schedules

1. Job Description: Detailed description of role and responsibilities

2. Remuneration Package: Complete breakdown of compensation elements

3. Share Option Terms: Detailed terms of any share option scheme

4. Bonus Scheme Rules: Detailed rules and calculations for bonus payments

5. Company Policies: Key company policies applicable to the position

6. Benefits Summary: Detailed description of all benefits provided

7. Restricted Activities: Detailed list of restricted activities under non-compete

8. Data Processing Terms: Detailed data protection and processing requirements

Authors

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Relevant Industries
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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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