North Dakota Sample Employment Agreement between Velocity, Inc. and President and Chief Executive Officer: This Sample Employment Agreement is created to outline the terms and conditions of the employment relationship between Velocity, Inc. (hereinafter referred to as "the Company") and the President and Chief Executive Officer (hereinafter referred to as "the CEO"). 1. Employment Position and Duties: a. The CEO shall serve as the President and Chief Executive Officer of the Company. b. The CEO shall be responsible for overseeing the day-to-day operations, leading strategic decision-making, and representing the Company in all external affairs. c. The CEO shall report to the Company's Board of Directors and shall carry out their reasonable directives. 2. Term of Employment: a. The initial term of this agreement shall be [start date] to [end date]. b. Following the initial term, the CEO's employment shall automatically renew for consecutive one-year terms, unless either party gives written notice of non-renewal at least [notice period] prior to the end of the current term. 3. Compensation and Benefits: a. The CEO shall receive a base salary of $[amount] per annum, payable in regular installments. b. The CEO shall be eligible for an annual performance bonus, subject to the Company's performance and individual objectives. c. The CEO shall receive [describe other benefits, such as health insurance, retirement plans, etc.] as per the Company's policies. 4. Employee's Obligations: a. The CEO shall devote their full-time attention and efforts to the Company's business and shall not engage in any other substantial business activities without the Board of Director's consent. b. The CEO shall act in the best interests of the Company, avoiding any conflict of interest and complying with all applicable laws, regulations, and the Company's code of conduct. 5. Confidentiality and Non-Disclosure: a. The CEO shall maintain strict confidentiality with regard to the Company's proprietary and confidential information. b. The CEO shall not disclose, use, or exploit any confidential information for their personal benefit or the benefit of any third party, during or after their employment period. 6. Termination: a. The employment may be terminated at any time by either party for "Cause" as defined in this agreement. b. The CEO may terminate the employment for "Good Reason" as defined in this agreement, subject to certain notice requirements. c. Upon termination or non-renewal of the employment, the CEO shall return all company property and cease using any proprietary information. Different types of North Dakota Sample Employment Agreements between Velocity, Inc. and President and Chief Executive Officer could include variations based on executive compensation structures, termination clauses, non-compete agreements, and provisions for equity-based compensation. These additional agreements may require specific legal language to comply with North Dakota employment laws and regulations.
North Dakota Sample Employment Agreement between Telocity, Inc. and President and Chief Executive Officer
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How to fill out North Dakota Sample Employment Agreement Between Telocity, Inc. And President And Chief Executive Officer?
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Negotiable contract terms include executive compensation, bonus structure, stock, options or long term incentives, relocation, tax gross-ups, severance terms and triggers and other key terms. These are all important issues, worth your time and consideration.
Publicly traded companies are required to disclose the pay ratio between their chief executive officers and median employees. High CEO-to-worker pay ratios contribute to economic inequality and can undermine employee morale and productivity. The average S&P 500 company's CEO-to-worker pay ratio was 272-to-1 in 2022.
An employment contract should clearly state the terms and conditions of your employment, including your: title, employment classification (employee or contractor), job responsibilities, compensation, health benefits, retirement benefits, company stock options, sick time, vacation time, and the number of hours you are ...
An executive contract, also known as an executive employment contract or an executive employment agreement is a written employment agreement between an employer and a highly compensated employee serving in an executive capacity within the company, such as a Chief Executive Officer, Chief Operating Officer, Chief ...
An executive compensation contract is a legal document between a company and its top executive outlining the terms of the executive's pay and benefits. Executive compensation refers to the compensation packages provided to top executives of a company.
As with regular employees, an executive's employment may be terminated without cause at any time, so long as they are given proper notice or pay in lieu of notice. However, executives will almost always be entitled to more severance than the bare minimum notice provisions of the Employment Standards Act.
Executive Employment Contracts: Definition & Negotiating Base Salary. The base salary forms the cornerstone of your compensation package. ... Short-Term Incentives. ... Long-Term Incentives. ... Benefits. ... Perquisites. ... Severance and Change-In-Control Agreements.
An employment agreement or executive agreement is a legal document generally entered into before the start of the employment relationship between an executive and an employer that sets forth the material terms of the relationship.
A term of three years is most common in our experience, but longer or shorter terms are possible. Five-year contracts also occur with some frequency, especially among chief executives renewing their contracts. Contracts often will have an option to renew the contract on mutual agreement of the parties. Job description.
The average startup CEO salary in 2023 is $142,000, down from $150,000 in 2022 and $146,000 in 2021 ? essentially a reversion to the typical CEO pay from 2019.