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Managerial Agreement

Managerial Agreement Template for South Africa

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Key Requirements PROMPT example:

Managerial Agreement

"I need a Managerial Agreement for appointing a new Regional Sales Director in our technology company, starting March 1, 2025, with specific focus on performance-based incentives and international travel provisions."

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Document background
The Managerial Agreement serves as a crucial legal document in South African business operations, establishing the terms and conditions of employment for individuals in management positions. It is typically used when appointing middle to senior managers, executives, or directors, providing a comprehensive framework that addresses both statutory requirements and business-specific needs. The agreement incorporates essential elements required by South African labor law, including Basic Conditions of Employment Act provisions, while also covering corporate governance requirements, performance expectations, and protection of business interests. This document is particularly important in the South African context due to specific local requirements regarding employment equity, skills development, and corporate governance principles as outlined in the King IV Code.
Suggested Sections

1. Parties: Identification of the employer company and the manager, including their full details and registration/ID numbers

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Duration: Terms of appointment, position title, and whether fixed-term or permanent

5. Duties and Responsibilities: Detailed description of the manager's role, authority, and reporting lines

6. Place of Work: Primary work location and any flexibility arrangements

7. Remuneration and Benefits: Salary, bonuses, and benefits package details

8. Working Hours: Expected working hours, flexibility, and overtime arrangements

9. Leave Entitlement: Annual, sick, family responsibility, and other leave provisions

10. Performance Evaluation: KPIs, performance review process, and frequency

11. Confidentiality: Protection of company information and trade secrets

12. Intellectual Property: Ownership of work product and innovations

13. Restraint of Trade: Non-compete and non-solicitation provisions

14. Termination: Notice periods and grounds for termination

15. Dispute Resolution: Process for resolving disputes between parties

16. General Provisions: Standard clauses including governing law, whole agreement, and variation

Optional Sections

1. Share Options/Incentive Schemes: Details of any share options or long-term incentive schemes, used when the manager is eligible for equity-based compensation

2. International Travel: Terms for international travel and assignments, included when the role requires regular international work

3. Directors Duties: Additional responsibilities if the manager is also appointed as a company director

4. Remote Working: Specific provisions for remote work arrangements, if applicable

5. Change of Control: Provisions dealing with company acquisition or merger scenarios

6. Garden Leave: Provisions allowing the company to require the manager to stay away from work during notice period

7. Sign-on Bonus: Terms of any sign-on bonus and repayment conditions, if applicable

Suggested Schedules

1. Schedule 1: Job Description: Detailed description of role, responsibilities, and key performance areas

2. Schedule 2: Remuneration Structure: Detailed breakdown of salary components, bonuses, and benefits

3. Schedule 3: Company Policies: List of applicable company policies the manager must comply with

4. Schedule 4: Restraint of Trade Terms: Detailed restraint provisions including duration and geographic scope

5. Schedule 5: Performance Metrics: Specific KPIs and performance measurement criteria

6. Appendix A: Statutory Declarations: Required statutory forms and declarations

7. Appendix B: Benefits Summary: Detailed description of all benefits and eligibility conditions

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

Manufacturing

Mining

Retail

Technology

Healthcare

Telecommunications

Professional Services

Construction

Energy

Agriculture

Education

Transport and Logistics

Hospitality

Media and Entertainment

Relevant Teams

Human Resources

Legal

Finance

Operations

Sales

Marketing

Information Technology

Research and Development

Production

Quality Assurance

Customer Service

Business Development

Supply Chain

Administration

Corporate Affairs

Relevant Roles

Chief Executive Officer

Managing Director

General Manager

Department Head

Regional Manager

Operations Manager

Financial Manager

Sales Manager

Human Resources Manager

Technical Manager

Project Manager

Business Unit Manager

Division Head

Branch Manager

Executive Director

Commercial Manager

Production Manager

Marketing Manager

IT Manager

Senior Manager

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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