Executive Compensation Agreement Generator
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Understanding Executive Compensation Agreements
An Executive Compensation Agreement outlines the terms and conditions of employment between a corporation and its executive officers. Key components include:
Key Elements:
- Term of Employment: Duration of the agreement with renewal provisions
- Base Compensation: Salary tied to company metrics (e.g., MRR, ARR) or fixed amount
- Bonus Structure: Performance-based, discretionary, or guaranteed bonuses
- Equity Compensation: Stock options subject to performance milestones and vesting schedules
- Benefits: Vacation, sick days, health insurance, and other perks
- Duties: Scope of responsibilities and working hours
- Termination: Conditions for termination and severance provisions
- Property Rights: IP assignment and confidentiality obligations
Important Considerations:
Executive agreements should be tailored to the specific circumstances of the company and executive. Consider market rates, company stage, and performance metrics when structuring compensation.