Managing Director Contract Of Employment Template for Philippines

The Managing Director Contract Of Employment is a crucial document used when appointing high-level executives in Philippine corporations. It serves as the primary agreement defining the employment relationship between the company and its Managing Director, incorporating requirements from both the Labor Code of the Philippines and the Corporation Code. This document is essential for establishing clear parameters around executive authority, responsibilities, compensation, and performance expectations while ensuring compliance with local regulatory requirements. It typically includes comprehensive provisions for protecting company interests through confidentiality, non-compete, and intellectual property clauses, while also addressing the unique aspects of executive-level employment such as board positions, corporate representation, and strategic decision-making authority.

1. Parties: Identification of the employer company and the Managing Director, including their complete legal names and addresses

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

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Official designation, position title, and duration of appointment (fixed-term or indefinite)

5. Duties and Responsibilities: Detailed outline of the Managing Director's role, scope of authority, and reporting relationships

6. Time Commitment: Working hours, availability requirements, and expectations regarding time dedication

7. Place of Work: Primary work location and any mobility requirements

8. Remuneration: Base salary, payment frequency, and review mechanisms

9. Benefits and Allowances: Standard benefits package including healthcare, leave entitlements, and other perks

10. Performance Evaluation: Performance review process, KPIs, and assessment criteria

11. Confidentiality: Obligations regarding company information and trade secrets

12. Intellectual Property: Ownership of work product and innovations developed during employment

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

14. Termination: Grounds for termination, notice periods, and procedures

15. Post-Termination Obligations: Continuing duties and responsibilities after employment ends

16. Governing Law: Specification of Philippine law as governing law and jurisdiction

17. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments