Director Employment Agreement

Director Employment Agreement Template for New Zealand

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Key Requirements PROMPT example:

"I need a Director Employment Agreement for a newly appointed Executive Director of our fintech startup, who will be working between New Zealand and Singapore offices, with specific provisions for equity participation and technology sector non-compete clauses."

Document background

The Director Employment Agreement is essential when appointing executive or non-executive directors to New Zealand companies. This document is designed to establish and regulate the employment relationship between a company and its director, incorporating requirements from the Companies Act 1993, Employment Relations Act 2000, and other relevant New Zealand legislation. It should be used when appointing new directors or updating terms for existing directors, particularly when they have executive responsibilities. The agreement includes comprehensive provisions covering duties, remuneration, performance expectations, compliance obligations, and post-employment restrictions, tailored to meet specific company needs while ensuring regulatory compliance.

Suggested Sections

1. Parties: Identifies the company and the director entering into the agreement

2. Background: Outlines the context of the appointment and the company's desire to employ the director

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Appointment and Term: Details of the director's appointment, position, and term (fixed or ongoing)

5. Duties and Responsibilities: Comprehensive outline of director's duties, including statutory obligations under Companies Act 1993

6. Time Commitment and Exclusivity: Expected time commitment and any restrictions on other directorships or business activities

7. Remuneration and Benefits: Base salary, benefits, and any performance-based compensation

8. Performance and Review: Performance expectations, KPIs, and review process

9. Statutory Compliance: Compliance with Companies Act and other relevant legislation

10. Confidentiality: Protection of company confidential information during and after employment

11. Intellectual Property: Ownership and protection of IP created during directorship

12. Conflicts of Interest: Process for declaring and managing conflicts of interest

13. Termination: Grounds and process for termination, notice periods, and obligations

14. Post-Termination Obligations: Restraint of trade, non-solicitation, and ongoing obligations

15. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement

Optional Sections

1. Share Options or Equity Participation: Required if the director is offered company shares or share options as part of remuneration

2. International Travel and Duties: Necessary for companies with international operations requiring director travel

3. Multiple Board Positions: Required for group companies where director serves on multiple boards

4. Market Disclosure Obligations: Required for listed companies, covering continuous disclosure obligations

5. Health and Safety Responsibilities: Detailed section for companies in high-risk industries

6. Subsidiary Board Appointments: Required when director serves on subsidiary boards

7. Insurance and Indemnity: Detailed provisions for companies offering enhanced D&O insurance

8. Executive Director Duties: Required if the director also holds an executive position

9. Related Party Transactions: Required for companies with significant shareholder-director relationships

10. Crisis Management Responsibilities: Important for regulated industries or high-risk businesses

Suggested Schedules

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

2. Remuneration Package: Comprehensive breakdown of salary, benefits, and incentive structures

3. Performance Criteria: Specific KPIs and performance measurement criteria

4. Company Policies: Key policies the director must comply with

5. Approved Outside Directorships: List of pre-approved external board positions

6. Share Option Terms: Detailed terms of any share option or equity schemes

7. Board Charter: Key governance documents and board operating procedures

8. Delegation of Authority: Specific authorities and powers delegated to the director

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Technology

Manufacturing

Retail

Healthcare

Professional Services

Energy

Mining

Construction

Transportation

Telecommunications

Education

Real Estate

Agriculture

Media and Entertainment

Relevant Teams

Legal

Human Resources

Corporate Governance

Company Secretariat

Board of Directors

Executive Leadership

Compliance

Risk Management

Compensation Committee

Nomination Committee

Relevant Roles

Executive Director

Managing Director

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Regional Director

Division Director

Country Manager

Executive Chairman

Non-Executive Director

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