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Board Resolution For Employment Agreement for Malaysia

Board Resolution For Employment Agreement Template for Malaysia

A formal corporate document governed by Malaysian law, specifically the Companies Act 2016, that records the board of directors' approval and authorization of an employment agreement. This document serves as official evidence of proper corporate governance in the hiring process, detailing the board's deliberation and approval of employment terms, conditions, and authorizing specific individuals to execute the employment agreement on behalf of the company. It ensures compliance with both corporate and employment law requirements in Malaysia while providing a clear audit trail of the decision-making process.

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Board Resolution For Employment Agreement

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What is a Board Resolution For Employment Agreement?

A Board Resolution For Employment Agreement is a critical corporate governance document required under Malaysian law when companies seek to formalize significant employment relationships. This document is typically used when hiring senior executives, key management personnel, or in situations where board approval is mandated by the company's constitution or governance policies. It demonstrates compliance with the Companies Act 2016 and related Malaysian employment legislation, while providing evidence that proper corporate procedures were followed in the hiring decision. The resolution includes details of the board meeting, the decision-making process, specific terms approved, and designated signatories for the employment agreement. This document is particularly important for audit trails, regulatory compliance, and corporate governance requirements.

What sections should be included in a Board Resolution For Employment Agreement?

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Company Details: Full legal name and registration number of the company

3. Presence of Quorum: Confirmation that the required number of directors are present to form a valid quorum

4. Directors Present: List of all directors present at the meeting

5. Chairman: Identification of the chairman of the meeting

6. Background: Context for the employment agreement, including the position to be filled and business necessity

7. Review of Employment Agreement: Confirmation that the board has reviewed the proposed employment agreement

8. Main Resolutions: The formal decisions made regarding the employment agreement, including approval and authorization for execution

9. Execution Authority: Designation of authorized persons to sign the employment agreement

10. Certification: Statement certifying that the resolution was duly passed and recorded

What sections are optional to include in a Board Resolution For Employment Agreement?

1. Abstentions: Required when any director abstains from voting due to conflicts of interest

2. Special Conditions: Used when there are specific conditions or requirements attached to the approval

3. Related Party Declarations: Needed when the employee has any relationship with board members or existing employees

4. Additional Authorizations: Required when additional corporate actions are needed beyond the employment agreement

5. Regulatory Compliance: Include when specific regulatory requirements need to be acknowledged

What schedules should be included in a Board Resolution For Employment Agreement?

1. Employment Agreement Draft: The full text of the proposed employment agreement being approved

2. Key Terms Summary: Summary of main terms of employment including position, compensation, and duration

3. Board Meeting Minutes Extract: Relevant extract from the board meeting minutes relating to this resolution

4. Corporate Authorization Matrix: Document showing authority levels and approval requirements

5. Compliance Checklist: Checklist confirming compliance with relevant employment laws and company policies

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




















Clauses



















Relevant Industries

Banking and Finance

Technology

Manufacturing

Professional Services

Healthcare

Education

Retail

Construction

Energy

Telecommunications

Agriculture

Mining

Real Estate

Transportation

Hospitality

Relevant Teams

Legal

Human Resources

Corporate Secretariat

Board Support

Compliance

Finance

Executive Office

Administration

Risk Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Executive Director

Managing Director

Company Secretary

Head of Department

General Manager

Regional Director

Vice President

Senior Manager

Legal Counsel

Human Resources Director

Chief Technology Officer

Chief Marketing Officer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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