Executive Director Employment Contract Template for Philippines

The Executive Director Employment Contract is a crucial document used when appointing high-level executive officers in Philippine corporations. It serves as the primary agreement governing the employment relationship between the company and its executive directors, ensuring compliance with the Philippine Labor Code, Corporation Code, and Securities Regulation Code. This contract is typically implemented when appointing new executive directors, promoting internal candidates to executive positions, or renewing existing executive agreements. The document comprehensively covers essential elements such as compensation structures, performance expectations, fiduciary duties, and protection of company interests, while incorporating specific Philippine regulatory requirements for executive officers of corporations.

1. Parties: Identification of the company and the executive director, including their respective addresses and registration details

2. Background: Context of the appointment, including any relevant corporate approvals and board resolutions

3. Definitions: Key terms used throughout the agreement, including company-specific terminology

4. Appointment and Term: Position title, appointment date, term duration, and renewal provisions

5. Duties and Responsibilities: Detailed outline of executive director roles, reporting relationships, and fiduciary duties

6. Time Commitment: Expected working hours, availability, and provisions for other commitments

7. Compensation and Benefits: Base salary, bonuses, equity participation, and standard benefits package

8. Performance Reviews: Evaluation criteria, frequency of reviews, and performance measurement processes

9. Confidentiality: Protection of company information and trade secrets

10. Intellectual Property: Ownership of work product and innovations developed during employment

11. Non-Competition and Non-Solicitation: Restrictions on competitive activities during and after employment

12. Termination: Grounds for termination, notice periods, and consequences of termination

13. Post-Termination Obligations: Continuing duties and obligations after employment ends

14. Governing Law and Jurisdiction: Application of Philippine law and dispute resolution mechanisms