¶¶Òõ¶ÌÊÓƵ

The Managerial Agreement is essential for establishing a formal employment relationship between companies and their management staff in India. This document is typically used when hiring middle to senior-level managers, directors, or executives, ensuring compliance with Indian employment laws including the Companies Act, 2013, and various labor regulations. It encompasses crucial elements such as designation, duties, compensation structure, benefits, performance metrics, and protection of company interests through confidentiality and non-compete provisions. The agreement serves as a comprehensive framework that balances the employer's business needs with employee rights while adhering to statutory requirements under Indian jurisdiction.

1. Parties: Identifies the employer company and the manager being appointed, including their respective addresses and registration details

2. Background: Brief context about the company, the position being filled, and the purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Appointment and Term: Details of the position, designation, and duration of employment (fixed-term or permanent)

5. Duties and Responsibilities: Comprehensive list of the manager's roles, responsibilities, and reporting relationships

6. Place of Work: Primary work location and provisions for transfer or travel

7. Compensation and Benefits: Salary structure, bonuses, and other benefits including insurance, provident fund, and gratuity

8. Working Hours and Leave: Standard working hours, overtime policies, and various types of leave entitlements

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Intellectual Property: Assignment of IP rights for work created during employment

11. Non-Compete and Non-Solicitation: Restrictions on competitive activities during and after employment

12. Performance Review: Process and frequency of performance evaluations and their impact on compensation

13. Termination: Grounds for termination, notice periods, and consequences of termination

14. Governing Law and Jurisdiction: Specifies Indian law as governing law and defines jurisdiction for disputes

15. General Provisions: Standard clauses including entire agreement, amendments, notices, and severability