The Standard Management Contract is essential for organizations operating under English and Welsh law when appointing individuals to management positions. This document provides a structured framework for establishing clear employment terms, protecting both the employer's interests and the manager's rights. It includes comprehensive provisions covering responsibilities, compensation, performance expectations, and termination procedures, while ensuring compliance with UK employment law and corporate governance standards. The contract is particularly crucial for establishing clear authority levels, reporting structures, and performance metrics for management roles.
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1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the management appointment
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Scope of appointment and duration
5. Duties and Responsibilities: Detailed description of management role and obligations
6. Remuneration: Salary, benefits, and compensation structure
7. Working Hours and Location: Work schedule and place of work
8. Holidays and Leave: Annual leave entitlement and other types of leave
9. Expenses: Policy on business expenses and reimbursement
10. Confidentiality: Obligations regarding confidential information
11. Intellectual Property: Rights and obligations regarding IP created during employment
12. Non-Competition and Non-Solicitation: Post-termination restrictions and covenants
13. Termination: Circumstances and procedures for ending the agreement
14. General Provisions: Standard boilerplate clauses including governing law
1. Garden Leave: Terms for placing manager on paid leave during notice period or termination
2. International Travel: Terms and conditions for international business travel and overseas work
3. Share Options: Terms of equity participation and share option schemes
4. Performance Targets: Specific KPIs and performance measurement criteria
5. Change of Control: Provisions dealing with company ownership changes
1. Schedule 1 - Job Description: Detailed outline of role and responsibilities
2. Schedule 2 - Bonus Scheme: Details of performance-related compensation structure
3. Schedule 3 - Company Policies: List of applicable company policies and procedures
4. Schedule 4 - Benefits Package: Comprehensive list of benefits and perks
5. Schedule 5 - Restricted Activities: Detailed list of prohibited activities during and after employment
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