Employment
Agreement

One might think that employments is one of those few areas where standard agreements already exist. The law is pretty strict on what can and cannot be agreed between employer and employee, there are lots of legal precedent cases.

However, not even lawyers agree on what a normal employment contract (Icelandic: ráðningarsamningur) looks like. To all employers, to all employees and to all labor lawyers out there – unite! We’re proud to present to you three different templates for Icelandic employment agreements:

  • Permanent employment (ótímabundinn): This is the normal form of employment in Iceland where the employee is hired for an indefinite period of time.
  • Managing directors: Icelandic employment law is quite restrictive regarding employment conditions and terms relating to firing employees. However, in some cases exceptions can be made for managing directors. In those cases (verify if applicable!) you can use this template.
  • Hourly Wage: If someone’s salary is irregular and based on the number of hours worked, this template may be useful.

As always, the information and documents published here are intended for general information purposes only. When using the documents, in case of doubt, always consult with legal expertise before signing.

/Erik Byrenius

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Support

Focus on running your business, instead of spending time and money on unnecessary legal paperwork and negotiations. Help us keep StartupTools free by making a donation.

Founders

Articles of Association →

Shareholders’ Agreement (only founders) →

The StartupTools Standard

The Startuptools Standard →

Seed Investment

About Our Shareholders’ Agreements →

Term Sheet →

Subscription Agreement →

Metrics

Unit Economics →

Employment Agreements

Hourly Wage →

Managing Director →

Permenant Employment →

Employment
Agreement

One might think that employments is one of those few areas where standard agreements already exist. The law is pretty strict on what can and cannot be agreed between employer and employee, there are lots of legal precedent cases.

However, not even lawyers agree on what a normal employment contract (Icelandic: ráðningarsamningur) looks like. To all employers, to all employees and to all labor lawyers out there – unite! We’re proud to present to you three different templates for Icelandic employment agreements:

  • Permanent employment (ótímabundinn): This is the normal form of employment in Iceland where the employee is hired for an indefinite period of time.
  • Managing directors: Icelandic employment law is quite restrictive regarding employment conditions and terms relating to firing employees. However, in some cases exceptions can be made for managing directors. In those cases (verify if applicable!) you can use this template.
  • Hourly Wage: If someone’s salary is irregular and based on the number of hours worked, this template may be useful.

As always, the information and documents published here are intended for general information purposes only. When using the documents, in case of doubt, always consult with legal expertise before signing.

/Erik Byrenius

Download

Support

Focus on running your business, instead of spending time and money on unnecessary legal paperwork and negotiations. Help us keep StartupTools free by making a donation.

Founders

Articles of Association →

Shareholders’ Agreement (only founders) →

The StartupTools Standard

The Startuptools Standard →

Seed Investment

About Our Shareholders’ Agreements →

Term Sheet →

Subscription Agreement →

Metrics

Unit Economics →

Employment Agreements

Hourly Wage →

Managing Director →

Permenant Employment →