Managerial Agreement

Managerial Agreement Template for Nigeria

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Key Requirements PROMPT example:

"I need a Managerial Agreement for appointing a new Chief Operations Officer in our Lagos-based manufacturing company, starting March 2025, with provisions for oversight of our West African subsidiaries and international travel requirements."

Document background

The Managerial Agreement serves as a crucial legal instrument in the Nigerian corporate environment, designed to establish and regulate senior-level employment relationships. It is typically used when appointing individuals to management positions requiring significant responsibility and authority within an organization. The document ensures compliance with Nigerian employment law, corporate governance requirements, and regulatory frameworks, including the Labour Act and CAMA 2020. This agreement is essential for protecting both employer and employee interests by clearly defining roles, responsibilities, compensation structures, and performance expectations. It includes specific provisions for confidentiality, intellectual property rights, and post-employment obligations, tailored to the Nigerian business context and legal requirements.

Suggested Sections

1. Parties: Identification of the company and the manager, including their full legal names and addresses

2. Background: Context of the agreement, including the company's business and the purpose of engaging the manager

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Details of the management position, effective date, and duration of appointment

5. Duties and Responsibilities: Comprehensive outline of the manager's roles, reporting lines, and key performance areas

6. Working Hours and Location: Standard working arrangements and primary work location

7. Remuneration and Benefits: Base salary, bonuses, and other benefits including pension arrangements

8. Performance Review: Process and frequency of performance evaluations

9. Confidentiality: Obligations regarding company information and trade secrets

10. Intellectual Property: Ownership and rights regarding works created during employment

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

12. Termination: Grounds and procedures for ending the agreement

13. Post-Termination Obligations: Continuing obligations after the agreement ends

14. Governing Law and Jurisdiction: Specification of Nigerian law and relevant courts

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

Optional Sections

1. Relocation Terms: Include when the role requires relocation, specifying relocation assistance and arrangements

2. International Travel: Include for roles requiring significant international travel, detailing travel policies and allowances

3. Share Options: Include when offering equity-based compensation

4. Acting Capacity: Include when the manager may need to act in other roles temporarily

5. Training and Development: Include when specific professional development requirements exist

6. Corporate Governance: Include for senior management roles with board interaction

7. Force Majeure: Include when operations may be affected by external circumstances

8. Succession Planning: Include for senior roles requiring succession planning responsibilities

Suggested Schedules

1. Schedule 1 - Job Description: Detailed description of the role, responsibilities, and key performance indicators

2. Schedule 2 - Compensation Package: Detailed breakdown of salary, bonuses, and benefits

3. Schedule 3 - Company Policies: List of applicable company policies and procedures

4. Schedule 4 - Performance Metrics: Specific performance targets and evaluation criteria

5. Schedule 5 - Approved Outside Activities: List of pre-approved external commitments or directorships

6. Appendix A - Confidential Information: Definition and examples of confidential information

7. Appendix B - Reporting Structure: Organizational chart showing reporting relationships

8. Appendix C - Benefits Summary: Detailed description of all benefits and eligibility criteria

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Banking and Financial Services

Oil and Gas

Manufacturing

Telecommunications

Real Estate and Construction

Fast-Moving Consumer Goods (FMCG)

Technology and IT Services

Healthcare and Pharmaceuticals

Agriculture and Agribusiness

Mining and Natural Resources

Retail and Commerce

Education

Professional Services

Logistics and Transportation

Media and Entertainment

Relevant Teams

Human Resources

Legal

Executive Leadership

Corporate Governance

Compliance

Finance

Operations

Administration

Commercial Operations

Business Development

Project Management Office

Risk Management

Strategic Planning

Regional Operations

Relevant Roles

Chief Executive Officer

Managing Director

General Manager

Regional Manager

Country Manager

Department Head

Division Director

Operations Manager

Project Manager

Branch Manager

Commercial Manager

Business Unit Manager

Sales Manager

Production Manager

Technical Manager

Administrative Manager

Finance Manager

HR Manager

Marketing Manager

Facility Manager

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