The Managerial Agreement is a crucial document used when appointing senior executives and directors in Belgian companies. It serves to formalize the relationship between the company and its management personnel, providing a comprehensive framework that addresses the specific requirements of Belgian corporate law and governance standards. This document is particularly important as it establishes clear distinctions from standard employment relationships, incorporating specific provisions for management responsibilities, corporate powers, liability protections, and the unique tax and social security treatment of managers under Belgian law. The agreement is essential for companies seeking to properly structure their management relationships while ensuring compliance with local regulations and protecting both the company's and the manager's interests.
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1. Parties: Identification of the company and the manager, including full legal details and capacities
2. Background: Context of the appointment, company structure, and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Appointment and Role: Formal appointment as manager and scope of management position
5. Powers and Duties: Detailed description of management powers, responsibilities, and reporting obligations
6. Time Commitment: Expected time dedication and exclusivity provisions
7. Remuneration: Base compensation, variable components, and payment terms
8. Benefits and Expenses: Additional benefits, expense policies, and reimbursement procedures
9. Social Security and Tax Status: Classification of the relationship and related obligations
10. Insurance and Liability: D&O insurance, liability limitations, and indemnification
11. Confidentiality: Protection of company information and trade secrets
12. Intellectual Property: Ownership and transfer of IP created during management
13. Data Protection: GDPR compliance and personal data processing
14. Duration and Termination: Term of appointment and termination provisions
15. Post-Termination Obligations: Continuing duties and restrictions after termination
16. Governing Law and Jurisdiction: Confirmation of Belgian law application and dispute resolution
1. Group Company Provisions: Additional provisions for managers serving multiple group companies
2. International Travel: Specific provisions for international responsibilities and travel requirements
3. Share Options: Terms of any share option or equity participation schemes
4. Non-Compete: Post-termination competition restrictions (if applicable under Belgian law)
5. Company Car: Specific terms for company car provision and usage
6. Home Office: Provisions for remote working arrangements
7. Corporate Credit Card: Terms of corporate credit card usage and liability
8. Representation Powers: Specific powers to represent the company in certain matters
1. Schedule 1 - Remuneration Package: Detailed breakdown of all compensation components
2. Schedule 2 - Benefits Details: Comprehensive list and terms of all benefits provided
3. Schedule 3 - Position Description: Detailed description of the role, responsibilities, and objectives
4. Schedule 4 - Company Policies: Key company policies applicable to management
5. Schedule 5 - Expense Policy: Detailed rules and procedures for expense claims
6. Schedule 6 - KPIs: Performance indicators and measurement criteria
7. Appendix A - Power of Attorney: Formal delegation of specific powers
8. Appendix B - Company Car Policy: Specific terms and conditions for company car use
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Manufacturing
Professional Services
Retail
Healthcare
Real Estate
Construction
Energy
Telecommunications
Logistics
Consumer Goods
Media and Entertainment
Pharmaceuticals
Automotive
Relevant Teams
Legal
Human Resources
Executive Management
Board of Directors
Corporate Governance
Compliance
Finance
Operations
Administration
Relevant Roles
Chief Executive Officer
Managing Director
Chief Financial Officer
Chief Operating Officer
Executive Director
Division Director
Country Manager
Regional Director
Board Member
General Manager
Department Head
Business Unit Director
Branch Manager
Operations Director
Commercial Director
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