This senior advisor agreement template has 5 pages and is a MS Word file type listed under our human resources documents.
Sample of our senior advisor agreement template:
SENIOR ADVISOR AGREEMENT This Senior Advisor Agreement (the "Agreement") is effective [DATE], BETWEEN: [CORPORATION NAME] (the "Corporation"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [INDIVIDUAL NAME] (the "Executive"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WITNESSETH: WHEREAS, Executive is currently serving and has for many years served as the Chairman and Chief Executive Officer of [COMPANY NAME], a corporation organized under the laws of [STATE/PROVINCE] ("[COMPANY'S NAME INITIALS]"); and WHEREAS, Corporation, [COMPANY NAME], a wholly owned subsidiary of Corporation ("[COMPANY'S NAME INITIALS]") and [COMPANY NAME] have entered into an Agreement and Plan of Merger dated as of [EFFECTIVE DATE], as modified by the Stipulation and Order dated [EFFECTIVE DATE], pursuant to which [COMPANY NAME] will merge with and into [COMPANY NAME], with [COMPANY NAME] being the surviving corporation (the "Merger"); and WHEREAS, Corporation wishes to retain Executive's continued services to the Merger as the successor to [COMPANY NAME] following the Merger and to retain Executive's services to Corporation and access to Executive's experience and knowledge following the Merger; and WHEREAS, Executive wishes to continue providing services to Lasso as the successor to [COMPANY NAME] following the Merger and to furnish advisory services to Corporation following the Merger upon the terms, provisions and conditions herein provided; NOW, THEREFORE, in consideration of the foregoing and of the agreements hereinafter contained, the parties hereby agree as follows: TERM The term of this Agreement (the " Term") shall begin on the effective date of the Merger (the "Effective Date") and terminate [NUMBER] years thereafter. SERVICES DURING THE TERM During the Term, Executive will, upon reasonable request, provide advisory services to the Merger and Corporation ("Employer") as follows: Subject to Section 5 below, Executive's services hereunder shall be provided as an employee of Employer as the Senior Advisor of Employer (this position shall entitle Executive to the continuation of benefits described in Section 4 of this Agreement, notwithstanding any limitation contained in any plans or policies referenced therein or otherwise); Executive may be required to devote up to [NUMBER] hours per month to Employer; Executive may perform advisory services hereunder at any location but may be required to be at the offices of Employer upon reasonable notice; and Executive shall not be obligated to render services under this Agreement during any period when he is disabled due to illness or injury, however, Executive will continue to receive the benefits under Sections 3 and 4 of this Agreement during such periods. COMPENSATION FOR SERVICES DURING THE TERM During the Term, Corporation shall pay Executive base compensation in the amount of [AMOUNT] per year, such sum to be payable monthly or as Corporation and Executive may from time to time otherwise agree. Executive shall also be reimbursed for reasonable out of pocket expenses related to services provided by Executive under Section 2 hereof. Executive shall be entitled to receive bonus payments for services rendered by Executive to Employer during the Term in such amounts and at such times as Corporation may in its discretion determine. In addition, during the Term Corporation shall continue to provide Executive with the following perquisites: Reimbursement for [SPECIFY] dues incurred by Executive during the Term consistent with the past practices of Executive at [COMPANY NAME]; Use of, and the payment of all reasonable expenses (including, without limitation, insurance, repairs, maintenance, fuel and oil) for, an automobile (and gross-up Executive for any and all income tax liability incurred by Executive). The monthly lease payment or allowance for such automobile shall be determined by and in the sole discretion of the Corporation Board of Directors, however, such perquisite should be consistent with the past practices of [COMPANY NAME]; Personal use of Employer-owned aircraft for [NUMBER] years after the Effective Date; provided, however, that Executive's personal use of Employer-owned aircraft shall be consistent with past practices and not interfere with Employer's use of Employer-owned aircraft. Corporation will reimburse and gross-up Executive for any and all income tax liability incurred by Executive in connection with his personal use of Employer-owned aircraft; Use of an office at Employer's headquarters in [CITY], [STATE/PROVINCE] (similar to that maintained by Executive in his current position), and Employer shall provide secretarial services for Executive, similar to that currently available to Executive; and Reimbursement from Corporation during the Term for costs incurred by Executive for tax and estate planning advice from an entity approved by Corporation. In the event of Executive's death, the compensation payments and perquisites described above shall continue to be paid to Executive's spouse for the duration of the Term. In the event of the death of both Executive and his spouse, all such compensation payments and perquisites shall cease. PREVIOUSLY EARNED COMPENSATION For compensation earned by Executive for services rendered by Executive to [COMPANY NAME] prior to the Effective Date, Corporation shall pay to the Executive compensation to include, but not limited to, the following: Stock Options. During the Term and prior to Executive's retirement as an employee pursuant to Section 5 below, all options to purchase [COMPANY NAME] common stock (as converted to options to purchase Corporation common stock using the Exchange Ratio as that term is defined in the Merger Agreement between Corporation, Merger and [COMPANY NAME]) held by Executive on the Effective Date shall be fully exercisable by Executive in accordance with their terms until the original expiration date of such options. Upon Executive's retirement as an employee, all such options held by Executive at the time of his retirement shall be fully exercisable until the earlier of the original expiration date of the options or [NUMBER] months after the date of Executive's retirement. In the event of Executive's death, Executive's estate shall be entitled to exercise such options until the earlier of the original expiration date of the options or [NUMBER] months after the date of Executive's death. Executive Life Insurance Program (" ELIP"). Corporation shall timely pay the [NUMBER] remaining annual premium payments, each in the amount of [AMOUNT], and shall pay Executive the corresponding tax gross-up payments, due under the ELIP. Restricted Stock
