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Executive Director Agreement

Executive Director Agreement Template for Indonesia

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Key Requirements PROMPT example:

Executive Director Agreement

"I need an Executive Director Agreement for appointing a new CEO of our technology startup in Jakarta, focusing on share options and performance-based compensation, with the role starting March 1, 2025."

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Document background
The Executive Director Agreement is a crucial document used when appointing senior executive leadership in Indonesian companies. It serves as the primary contract governing the relationship between the company and its executive director, ensuring compliance with Indonesian Company Law (Law No. 40 of 2007) and relevant employment regulations. The agreement typically covers comprehensive terms including appointment, duties, remuneration, benefits, and termination provisions, while also addressing corporate governance requirements specific to Indonesian law. This document is essential for both listed and private companies, providing clear guidelines for the executive's role while protecting both parties' interests through well-defined rights and obligations. The agreement should be regularly reviewed and updated to reflect changes in Indonesian corporate and employment law.
Suggested Sections

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

2. Background: Context of the appointment and brief company background

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Official appointment as executive director and duration of the term

5. Duties and Responsibilities: Detailed description of director's roles and obligations under Indonesian Company Law

6. Time Commitment: Expected working hours and dedication requirements

7. Remuneration and Benefits: Salary, bonuses, and other benefits structure

8. Expenses: Policy on reimbursement of business expenses

9. Leave Entitlements: Annual leave, sick leave, and other leave provisions

10. Confidentiality: Protection of company's confidential information

11. Intellectual Property: Ownership and rights to work created during directorship

12. Compliance: Obligation to comply with laws, regulations, and company policies

13. Termination: Grounds and procedures for termination

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

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

16. General Provisions: Standard contractual clauses including notices, amendments, etc.

Optional Sections

1. Non-Compete and Non-Solicitation: Restrictions on post-employment activities - include if company wants to restrict future employment options

2. Performance Metrics: Specific KPIs and evaluation criteria - include for performance-based compensation

3. International Travel: Terms for international assignments - include if role requires frequent international travel

4. Multiple Directorships: Rules about holding director positions in other companies - include if relevant to company policy

5. Share Options/Equity Participation: Terms of any share option or equity schemes - include if offering equity compensation

6. Insurance and Indemnification: Director's insurance and company indemnification - include for higher risk industries

7. Representation on Board Committees: Participation in specific board committees - include if director will serve on committees

Suggested Schedules

1. Schedule 1 - Position Description: Detailed description of role, responsibilities, and reporting relationships

2. Schedule 2 - Remuneration Package: Detailed breakdown of salary, benefits, and bonus structures

3. Schedule 3 - Company Policies: Key company policies applicable to the executive director

4. Schedule 4 - Performance Criteria: Specific KPIs and performance evaluation framework

5. Schedule 5 - Share Option Terms: Details of any share option or equity participation scheme

6. Appendix A - Board Resolution: Copy of board resolution approving the appointment

7. Appendix B - Statutory Declaration: Director's statutory declarations required under Indonesian law

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Appointment
Articles of Association
Board
Board of Commissioners
Business Day
Cause
Company
Company Group
Company Property
Confidential Information
Effective Date
Executive Director
Good Reason
Governing Law
Intellectual Property Rights
Key Performance Indicators
Material Breach
Notice Period
OJK
Performance Review
PT
Remuneration
Restricted Period
Share Option Scheme
Shareholders
Subsidiary
Term
Termination Date
Territory
Variable Compensation
Work Product
Annual General Meeting
Board Resolution
Competing Business
Corporate Governance Guidelines
Directors' and Officers' Insurance
IDX
Indonesian Company Law
Business Plan
Bonus
Serious Misconduct
Code of Ethics
Clauses
Appointment
Term
Duties and Responsibilities
Authority
Remuneration
Benefits
Bonus
Share Options
Working Hours
Leave Entitlement
Expenses
Performance Review
Reporting Requirements
Board Meetings
Corporate Governance
Regulatory Compliance
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Conflict of Interest
Multiple Directorships
Company Property
Data Protection
Insurance
Indemnification
Termination
Garden Leave
Post-Termination Obligations
Notice
Representations and Warranties
Force Majeure
Assignment
Severability
Entire Agreement
Amendment
Waiver
Governing Law
Dispute Resolution
Mediation
Arbitration
Relevant Industries

Financial Services

Manufacturing

Technology

Real Estate

Mining

Healthcare

Retail

Transportation

Energy

Telecommunications

Consumer Goods

Professional Services

Agriculture

Construction

Education

Relevant Teams

Legal

Human Resources

Board of Directors

Corporate Secretariat

Compliance

Finance

Senior Management

Corporate Governance

Relevant Roles

Chief Executive Officer

Managing Director

Executive Director

Chief Operating Officer

Chief Financial Officer

Chief Technology Officer

Chief Marketing Officer

Chief Human Resources Officer

Regional Director

Country Manager

General Manager

Board Secretary

Corporate Secretary

Legal Counsel

HR Director

Industries
Law No. 40 of 2007 on Limited Liability Companies (Company Law): Fundamental law governing corporate structures, director duties, responsibilities, appointments, and corporate governance requirements
Law No. 13 of 2003 on Employment: Regulates employment relationships, including provisions on employment terms, benefits, termination procedures, and worker protections
Indonesian Civil Code (KUHPerdata): Provides basic contract law principles, including formation, validity, and enforcement of agreements
OJK Regulation No. 33/POJK.04/2014: Specific regulations for directors and commissioners of public companies, including appointment requirements and responsibilities
Law No. 8 of 1995 on Capital Market: Relevant if the company is publicly listed, governing disclosure requirements and responsibilities of directors in public companies
Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations: Relevant for director's duties and liabilities in case of company insolvency
Law No. 11 of 2020 on Job Creation (Omnibus Law): Recent reforms affecting employment relationships and corporate governance aspects
Government Regulation No. 35 of 2021: Implementing regulation for fixed-term employment agreements, outsourcing, working hours, and termination procedures
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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