Executive Employment Contract Template for Hong Kong

The Executive Employment Contract is a sophisticated legal document used when hiring senior-level executives in Hong Kong. It serves as the primary agreement governing the relationship between a company and its executive employees, incorporating both statutory requirements under Hong Kong law and common law principles. This document is essential for protecting both employer and executive interests, particularly in areas such as confidentiality, intellectual property rights, post-employment restrictions, and complex compensation arrangements. The contract typically requires review and approval from multiple stakeholders including the board of directors, legal counsel, and HR departments, and must comply with Hong Kong's Employment Ordinance while addressing specific corporate governance requirements.

1. Parties: Identification of the employer company and the executive employee

2. Background: Context of the employment relationship and appointment

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position title, nature of appointment, and duration (fixed-term or ongoing)

5. Duties and Responsibilities: Executive's key responsibilities, reporting lines, and performance expectations

6. Place of Work: Primary work location and travel requirements

7. Hours of Work: Working hours expectations while acknowledging executive nature of role

8. Remuneration: Base salary, review mechanisms, and payment arrangements

9. Bonus and Incentives: Performance bonus, long-term incentives, and criteria for payment

10. Benefits: Insurance, MPF, leave entitlements, and other benefits

11. Expenses: Business expense reimbursement policy and procedures

12. Confidentiality: Protection of company confidential information

13. Intellectual Property: Ownership of work product and innovations

14. Non-Competition and Non-Solicitation: Post-employment restrictions on competitive activities

15. Termination: Grounds for termination, notice periods, and procedures

16. Garden Leave: Company's right to place executive on garden leave

17. Return of Company Property: Obligations upon termination

18. Governing Law and Jurisdiction: Hong Kong law as governing law and jurisdiction for disputes