Custom Made COO Employment Agreement

This custom COO employment contract template is a legal employment agreement between your company and the individual who intends to serve as the Chief Operating Officer (COO). It sets out the premise for the COO’s functions at the company as well as the company’s commitments to the COO in the performance of their roles and is therefore a necessity before the commencement of the role.

The job description and significance of a COO varies by company, this means that there is no one straightforward depiction of what is expected of a COO, therefore, it is important to operate with an employment agreement in which roles, duties, and expectations are clearly stated and expressed.

Preview COO Employment Agreement Contract

About The COO Employment Contract Template

This COO employment contract template has been carefully vetted by lawyers with qualifications in multiple jurisdictions across Africa and the United States of America, with extensive experience in business operation, management, and structuring.

It is important to note that if the COO is a co-founder of the company, they would need to sign a cofounder agreement outside of their employment contract, as the cofounder agreement governs the relationship between founders containing provisions like share ownership, capital contribution, and vesting schedule. Download the perfect cofounder agreement here.

 

It is written in simple, comprehensive grammar that is easy to understand by entrepreneurs and without needing an additional legal review. Unlike other legal agreements filed with long and hard-to-understand legal words, the legal terms in this template have been broken down and explained using terms that can be read and understood by anyone.

Why You Need This Custom Made COO Template

This employment agreement template has been carefully vetted by lawyers with qualifications in multiple jurisdictions, and extensive experience in technology, business operations, management, and structuring, who have worked with some of the fastest-growing companies in the tech space.

This template is written in simple, comprehensive grammar and the legal words have been explained in terms that are easy to understand by founders and entrepreneurs without needing additional legal review.

This COO Employment Agreement Contract Contains:

Parties Information: :

the names of both the prospective COO and employing company should be clearly stated in the contract of employment

Interpretation:

this refers to definitions and clarifications of certain aspects of the contract and the employment. It expatiates on terms like “shares”, “control”, termination date” etc.

Term of employment:

An employment contract should outline the term of the employment, duties, and responsibilities expected of the employee as well as details as to the location of the exercise of their role. This will help to ensure that the prospective COO understands what is expected of them in their role.

Compensation:

An employment contract should clearly outline the merits and compensations of the role i.e., salary and payment terms, stock entitlements, vacation days available as well as benefits, signing bonuses, taxes, other available benefits, etc.

Termination of Employment:

Conditions and terms relating to the end of the employment of the COO. This highlights instances of death, disability, and by choice of the COO or company.

Confidential Information:

This mandates that the COO keep certain details regarding the company private and avoid exposure. It also follows with instances in which the COO is not mandated to avoid disclosure etc.

Miscellaneous:

The clause provides further context and information on other relevant aspects of the employment. Such as remedies for breaches, dispute resolution, governing law, amendments, etc.

Dispute resolution:

The agreement provides the various methods of resolution available to the founders in the instance of any dispute or misunderstanding which cannot be resolved amicably.

COO AGREEMENT CONTRACT FAQ

The employer or the company hiring the COO or its authorised representative and the COO (employee).

Generally, legal documents become operational from the moment they are signed by the parties, unless otherwise stated. Most employment contracts, they become operational from the date of commencement, which is the date at the top of the document.

The reason for this is that employers usually have an agreed date of resumption or commencement of employment with the employee, even though the employment agreement might not have been signed before this date.

No, this document does not require the approval of the company’s Board of Directors. It can be entered into by the CEO or other authorized representative of the company.

These templates are suggested templates that are created using terms that are simple to understand by anyone. They are a good place to start when entering into a binding contract or agreement. However, this document is not a substitute for legal advice and we recommend that you consult a lawyer before signing legal documents or agreements or seeking legal advice to ensure you are complying with applicable laws and regulations.

This employment contract does not need to be renewed.

This agreement can be canceled in accordance with the provisions for termination set out in Section 6 of the agreement. It includes methods of terminating the agreement by either party, with or without cause.

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