Executive Employment Contract Template for New Zealand

The Executive Employment Contract is essential for organizations operating in New Zealand that are appointing senior leadership positions. This document is specifically designed to establish and govern the employment relationship between a company and its executive-level employees, ensuring compliance with New Zealand employment law, including the Employment Relations Act 2000, Companies Act 1993, and other relevant legislation. It covers crucial aspects such as executive duties, remuneration packages, performance expectations, protection of company interests, and post-employment obligations. The agreement is particularly important for protecting both employer and executive interests in high-stakes employment relationships, providing clear terms for complex matters such as performance-based incentives, share options, and restraint of trade provisions.

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

2. Background: Context of the agreement and brief description of the executive role

3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation

4. Appointment and Term: Position details, commencement date, and term of employment (fixed or ongoing)

5. Duties and Responsibilities: Core responsibilities, reporting relationships, and performance expectations

6. Location and Hours: Primary work location and expected working arrangements

7. Remuneration: Base salary, review process, and payment arrangements

8. Benefits and Expenses: Additional benefits, expense reimbursement, and allowances

9. Leave Entitlements: Annual, sick, bereavement, and other leave entitlements

10. Confidentiality: Obligations regarding confidential information during and after employment

11. Intellectual Property: Ownership and protection of IP created during employment

12. Conflicts of Interest: Obligations regarding avoiding and declaring conflicts

13. Termination: Grounds for termination, notice periods, and processes

14. Post-Employment Obligations: Restraint of trade and non-solicitation provisions

15. General Provisions: Standard clauses including governing law, entire agreement, and amendments