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Managing Director Agreement

Managing Director Agreement Template for Canada

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Key Requirements PROMPT example:

Managing Director Agreement

"I need a Managing Director Agreement for a Canadian technology startup, including stock options and flexible work arrangements, with an expected start date of March 1, 2025."

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Document background
The Managing Director Agreement is a crucial executive employment contract used when appointing senior leadership positions in Canadian organizations. This document is essential for establishing clear terms of employment while ensuring compliance with Canadian federal and provincial employment laws, securities regulations (where applicable), and corporate governance requirements. The agreement typically comes into play during new executive appointments, leadership transitions, or when updating terms for existing Managing Directors. It includes comprehensive provisions covering responsibilities, compensation, benefits, equity participation, termination conditions, and protective covenants. The document requires careful consideration of Canadian employment standards, tax implications, and corporate law requirements, particularly regarding director duties and liabilities under the Canada Business Corporations Act or provincial equivalents.
Suggested Sections

1. Parties: Identification of the company and the Managing Director

2. Background: Context of the appointment and brief company description

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position title, effective date, and term of appointment

5. Duties and Responsibilities: Detailed description of role, reporting relationships, and management obligations

6. Time Commitment: Expected working hours and dedication requirements

7. Base Salary: Annual base compensation and review provisions

8. Performance Bonus: Structure and terms of annual bonus arrangements

9. Benefits and Expenses: Health benefits, insurance, expense reimbursement policies

10. Vacation: Annual vacation entitlement and conditions

11. Confidentiality: Protection of company confidential information

12. Intellectual Property: Ownership of work product and innovations

13. Non-Competition: Post-employment competitive restrictions

14. Non-Solicitation: Restrictions on soliciting employees or customers

15. Termination: Grounds for termination and associated processes

16. Severance: Compensation and benefits upon different termination scenarios

17. Governing Law: Applicable Canadian jurisdiction

18. General Provisions: Standard boilerplate clauses including amendments, notices, and entire agreement

Optional Sections

1. Equity Compensation: Share options or other equity-based compensation, used when the company offers equity incentives

2. International Travel: Special provisions for international travel requirements and compensation, used when role requires significant travel

3. Board Position: Terms of board membership if the Managing Director will also serve on the board

4. Change of Control: Special provisions triggered by company sale or merger, important for public companies

5. Representations and Warranties: Personal declarations regarding qualifications and ability to serve, used in regulated industries

6. Compliance with Securities Laws: Special provisions for public company compliance, used when company is publicly traded

7. Work Permits: Immigration and work permit requirements, used for non-Canadian residents

8. Secondment: Terms for temporary assignment to different locations or affiliated companies, used when applicable

Suggested Schedules

1. Schedule A - Duties and Responsibilities: Detailed list of specific duties and performance expectations

2. Schedule B - Compensation Structure: Detailed breakdown of all compensation elements including bonus calculations

3. Schedule C - Benefits Package: Comprehensive description of all benefits and allowances

4. Schedule D - Equity Plan Terms: Details of any share option or equity compensation plan

5. Schedule E - Approved Outside Activities: List of pre-approved board positions or other external commitments

6. Appendix 1 - Confidentiality Agreement: Detailed confidentiality terms and requirements

7. Appendix 2 - Company Policies: Key company policies applicable to the Managing Director

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions








































Clauses
















































Relevant Industries

Financial Services

Technology

Manufacturing

Professional Services

Healthcare

Retail

Energy

Real Estate

Telecommunications

Construction

Mining

Transportation

Education

Consulting

Media and Entertainment

Relevant Teams

Human Resources

Legal

Executive Leadership

Board of Directors

Compensation Committee

Corporate Governance

Finance

Corporate Secretary Office

Compliance

Risk Management

Relevant Roles

Managing Director

Executive Director

Chief Executive Officer

General Manager

Country Manager

Regional Director

Division President

Senior Vice President

Chief Operating Officer

Head of Operations

Executive Vice President

Business Unit Director

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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