Executive Director Employment Contract Template for Pakistan

The Executive Director Employment Contract is a crucial document used when appointing senior executive leadership in Pakistani companies. This agreement is essential for companies operating under Pakistani law, particularly those subject to the Companies Act 2017 and corporate governance regulations. It's typically used when appointing new executive directors or formalizing arrangements with existing directors who take on executive responsibilities. The contract covers comprehensive employment terms, including statutory obligations, remuneration packages, performance expectations, and protection of company interests. It's particularly important for listed companies and larger private organizations where corporate governance requirements are more stringent. The document must balance Pakistani employment law requirements with corporate governance standards while providing clear terms for both the company and the executive director.

1. Parties: Identifies the company and the executive director, including their full legal names and addresses

2. Background: Contextualizes the agreement, including the company's desire to employ the executive director and their acceptance

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Appointment and Term: Details the position, appointment date, and duration (fixed-term or ongoing)

5. Duties and Responsibilities: Outlines the executive director's key duties, including both statutory obligations under Companies Act and specific role requirements

6. Time Commitment and Exclusivity: Specifies working hours, dedication requirements, and any restrictions on other business activities

7. Remuneration and Benefits: Details salary, bonuses, profit sharing, and other financial benefits

8. Leave Entitlements: Specifies annual leave, sick leave, and other leave entitlements

9. Confidentiality: Defines confidential information and obligations to maintain confidentiality

10. Intellectual Property: Addresses ownership and protection of IP created during employment

11. Termination: Details circumstances and processes for contract termination

12. Post-Termination Obligations: Specifies restrictions and obligations after employment ends

13. Governing Law and Jurisdiction: Specifies Pakistani law as governing law and relevant jurisdiction

14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability