Document background
The Key Person Agreement serves as a critical legal instrument in the Philippine business environment, designed to protect company interests while securing the services of essential employees. This document becomes necessary when organizations identify individuals whose skills, knowledge, or relationships are fundamental to business operations or success. The agreement typically includes detailed terms of employment, compensation packages, retention bonuses, restrictive covenants, and protection of confidential information, all structured within the framework of Philippine employment and corporate laws. It's particularly relevant in scenarios involving C-suite executives, technical experts, or individuals with unique expertise or client relationships. The document must comply with Philippine Labor Code requirements while balancing the interests of both the company and the key person.
