Management Contracts are essential documents in Singapore's corporate landscape, used when appointing individuals to positions with significant responsibility and authority within an organization. These contracts must comply with Singapore's robust employment and corporate governance framework, including the Employment Act and Companies Act. A Management Contract typically includes comprehensive terms covering appointment, duties, compensation, benefits, performance expectations, and protective provisions. These agreements are particularly important for establishing clear accountability, protecting company interests, and ensuring compliance with local regulations.
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1. Parties: Identification of the company and the manager, including full legal names and registered addresses
2. Background: Context of the appointment and brief description of the management role
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Formal appointment clause and duration of the contract
5. Duties and Responsibilities: Detailed description of the manager's role and obligations
6. Remuneration and Benefits: Salary, bonuses, and other benefits including CPF contributions
7. Working Hours and Leave: Standard working hours, overtime policies, and leave entitlements
8. Termination: Circumstances and procedures for contract termination
9. Confidentiality: Protection of company's confidential information
1. Performance Metrics: Specific KPIs and evaluation criteria for senior management positions with performance-based compensation
2. Share Options: Terms of any share option schemes when equity compensation is part of the package
3. International Assignments: Terms for overseas postings when managers may be required to work internationally
4. Non-Compete: Restrictions on post-employment competition for senior positions with access to sensitive information
1. Schedule 1 - Job Description: Detailed outline of roles and responsibilities
2. Schedule 2 - Compensation Structure: Detailed breakdown of salary components and benefits
3. Schedule 3 - Company Policies: Reference to relevant company policies and procedures
4. Schedule 4 - Performance Bonus Scheme: Details of any performance-based incentive programs
5. Schedule 5 - Restricted Activities: List of prohibited activities during and after employment
Relevant legal definitions
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