What types of employment agreements can be accommodated in the Netherlands (i.e., fixed-term, part-time, hourly, etc.), and what are the restrictions for each type? Does Velocity Global have templates available?

In the Netherlands, the following types of employment agreements can be accommodated:

• Indefinite employment agreements: Standard employment agreements without an end date.
• Fixed-term employment agreements: Employment agreements with a specified start and end date.
• Part-time employment agreements: Employment agreements with reduced working hours compared to full-time positions.

Hourly employment agreements cannot be accommodated.

Templates for fixed-term employment agreements are available for use.

Is it necessary for the employment agreement to be bilingual with Dutch taking precedence in the Netherlands?

There are no restrictions regarding the language of the employment agreement in the Netherlands. Pebl’s employment agreement template is written in English. A translated package is not available as the general level of English literacy is high in the Netherlands.

Can variable compensation be included in the employment agreement in the Netherlands, or should it be outlined in a separate Variable Compensation Plan?

Yes, the mention of variable compensation can be included in the employment agreement in the Netherlands. If the Variable Compensation Plan is approved, an additional section labeled "Additional Remuneration" will be added to the employment agreement.