The Startup Employment Agreement is essential for Singapore-based startups hiring employees in an evolving business environment. It differs from standard employment contracts by incorporating provisions for equity compensation, aggressive growth trajectories, and enhanced IP protection. This agreement ensures compliance with Singapore's employment laws while protecting the startup's interests in areas such as confidentiality, IP rights, and non-competition. It's particularly vital for early-stage companies where employees often take on multiple roles and may receive part of their compensation in equity.
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1. Parties: Identifies the employer and employee with full details
2. Background: Context of employment and company information
3. Definitions: Key terms used tHRoughout the agreement
4. Employment Terms: Position, duties, reporting structure, and work location
5. Compensation: Salary, benefits, and payment terms
6. Confidentiality: Protection of company information
7. Intellectual Property: Assignment of IP rights to company
8. Termination: Conditions for ending employment
1. Equity Compensation: Stock options or share schemes - include when offering equity as part of compensation
2. Non-Compete: Restrictions on future employment - include for senior roles or access to sensitive information
3. Relocation: Terms for relocating employee - include when hiring foreign employees or requiring relocation
4. Performance Metrics: KPIs and evaluation criteria - include for performance-based roles or variable compensation
1. Schedule 1 - Job Description: Detailed role responsibilities and requirements
2. Schedule 2 - Compensation Schedule: Detailed breakdown of salary and benefits
3. Schedule 3 - Share Option Plan: Terms of equity compensation if applicable
4. Schedule 4 - Company Policies: Reference to relevant internal policies
5. Schedule 5 - Proprietary Information Agreement: Detailed IP and confidentiality terms
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