Legal Templates
Director Employment Agreement

Director Employment Agreement Template for Singapore

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Key Requirements PROMPT example:

Director Employment Agreement

"I need a Director Employment Agreement for an executive director joining our Singapore fintech startup as CTO, including share options and flexible working arrangements, with the appointment starting March 1, 2025."

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What is a Director Employment Agreement?

The Director Employment Agreement is a crucial document used when appointing executive or non-executive directors to Singapore companies. It provides a formal framework for the director-company relationship, ensuring compliance with Singapore's Companies Act, corporate governance requirements, and other relevant legislation. This agreement typically includes detailed provisions on duties, remuneration, confidentiality, and termination terms, while also addressing specific requirements for listed companies where applicable. It's essential for protecting both the company's and director's interests while ensuring regulatory compliance.

What sections should be included in a Director Employment Agreement?

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

2. Background: Context of appointment and basic information about the company and role

3. Definitions: Key terms used tHRoughout the agreement

4. Appointment and Term: Details of the appointment, position, and duration

5. Duties and Responsibilities: Director's key duties, obligations, and scope of authority

6. Remuneration and Benefits: Compensation structure, benefits, and payment terms

7. Confidentiality: Obligations regarding confidential information

8. Termination: Circumstances and processes for ending the agreement

What sections are optional to include in a Director Employment Agreement?

1. Share Options: Details of any share option schemes or equity participation arrangements

2. International Travel: Terms and conditions for international assignments and travel requirements

3. Non-Competition: Post-employment restrictions and non-compete obligations

4. Subsidiary Board Positions: Terms for appointments to subsidiary boards within group companies

What schedules should be included in a Director Employment Agreement?

1. Schedule 1: Remuneration Details: Detailed breakdown of compensation package including salary, bonuses, and benefits

2. Schedule 2: Position Description: Detailed role specifications and responsibilities of the director position

3. Schedule 3: Company Policies: Key corporate policies applicable to the director

4. Appendix A: Share Option Terms: Detailed terms and conditions of any share option arrangements

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

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alex.den.21@genieai.co
Clauses
Appointment and Term
Duties and Responsibilities
Powers and Authority
Time Commitment
Remuneration and Benefits
Expenses
Location
Working Hours
Leave Entitlement
Confidentiality
Intellectual Property
Conflicts of Interest
Non-Competition
Non-Solicitation
Data Protection
Company Property
Board Meetings
Reporting Requirements
Performance Review
Share Options
Insurance and Indemnity
Termination
Garden Leave
Post-Termination Obligations
Return of Property
Severability
Entire Agreement
Variations
Notices
Governing Law
Dispute Resolution
Force Majeure
Assignment
Third Party Rights
Counterparts
Industries

Companies Act 1967: Primary legislation governing corporate directors covering fiduciary duties, disclosure requirements, director obligations, and appointment restrictions

Employment Act 1968: Framework for basic employment terms including working hours and leave entitlements - while directors are typically not covered, provisions often referenced as market practice

Securities and Futures Act 2001: Regulates insider trading, disclosure obligations for listed companies, and securities trading restrictions applicable to directors

SGX Listing Rules: For listed companies: specifies director's responsibilities, corporate governance requirements, and ongoing disclosure obligations

Code of Corporate Governance: Guidelines on board composition, director's roles and responsibilities, and corporate governance standards

Personal Data Protection Act 2012: Requirements for handling personal information and data protection obligations

Income Tax Act 1947: Governs tax treatment of director's remuneration and benefits-in-kind

Central Provident Fund Act: Regulations regarding CPF contributions for directors where applicable

Competition Act 2004: Relevant for non-compete provisions and market competition considerations in director agreements

Workplace Safety and Health Act: Outlines director's responsibilities and obligations regarding workplace safety and health matters

MAS Guidelines: Additional regulatory requirements for directors in the financial sector

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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