Legal Templates
Managing Director Contract Of Employment

Managing Director Contract Of Employment Template for Singapore

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Managing Director Contract Of Employment

"I need a Managing Director Contract Of Employment for a Singapore tech startup, offering a base salary of SGD 300,000 plus share options, with special emphasis on IP protection and a 24-month non-compete clause for the APAC region."

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What is a Managing Director Contract Of Employment?

The Managing Director Contract Of Employment is a crucial document used when appointing senior executives in Singapore-based companies. This contract type is essential for establishing clear terms of engagement for high-level executives who have both operational and statutory responsibilities. It must comply with Singapore's stringent corporate governance requirements while protecting both the company's interests and the director's rights. The document typically includes comprehensive provisions on remuneration, duties, confidentiality, and post-employment restrictions, tailored to meet specific company needs and industry standards.

What sections should be included in a Managing Director Contract Of Employment?

1. Parties: Identification of the company and the Managing Director

2. Background: Context of the appointment and basic premise of the agreement

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Role, position, and duration of appointment

5. Duties and Responsibilities: Scope of work and key responsibilities as Managing Director, including board duties and reporting requirements

6. Remuneration and Benefits: Salary, bonuses, benefits, and other compensation details

7. Working Hours and Leave: Work schedule, annual leave, sick leave, and other leave entitlements

8. Confidentiality: Non-disclosure obligations and protection of company information

9. Restrictive Covenants: Non-compete and non-solicitation obligations

10. Termination: Conditions and process for ending employment, notice periods, and consequences

11. General Provisions: Governing law, entire agreement, amendments, and other standard clauses

What sections are optional to include in a Managing Director Contract Of Employment?

1. Share Options: Terms of any share option schemes or equity compensation

2. International Assignments: Terms and conditions for overseas postings or international work

3. Intellectual Property: IP rights, assignments, and related obligations

4. Corporate Governance: Additional governance responsibilities for listed companies

5. Change of Control: Provisions relating to company ownership changes or mergers

What schedules should be included in a Managing Director Contract Of Employment?

1. Schedule 1: Remuneration Package: Detailed breakdown of compensation components including base salary, bonuses, and allowances

2. Schedule 2: Benefits: Comprehensive list of benefits and entitlements including insurance, expense claims, and other perks

3. Schedule 3: KPIs and Performance Metrics: Specific performance indicators, targets, and evaluation criteria

4. Appendix A: Code of Conduct: Company's code of conduct and ethical guidelines

5. Appendix B: Share Option Plan: Detailed terms and conditions of any share option or equity compensation schemes

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Industries

Employment Act: Primary legislation governing employment relationships in Singapore (Cap. 91), setting out basic terms and working conditions

Companies Act: Key legislation (Cap. 50) governing corporate entities in Singapore, particularly provisions relating to directors' duties and responsibilities

Employment of Foreign Manpower Act: Legislation governing the employment of foreign workers/directors in Singapore, including work pass requirements

Central Provident Fund Act: Mandatory social security savings scheme legislation that governs employer CPF contributions

Work Injury Compensation Act: Legislation providing for compensation framework in case of work-related injuries

Personal Data Protection Act: Legislation governing the collection, use, and disclosure of personal data, relevant for employee information handling

Employment Claims Act: Framework for resolving employment disputes and salary-related claims

Retirement and Re-employment Act: Legislation covering minimum retirement age and re-employment obligations

MOM Guidelines: Regulatory guidelines issued by Ministry of Manpower for employment practices and standards

SGX Listing Rules: Regulations for listed companies, including requirements for director appointments and disclosures

Corporate Governance Code: Best practices guidelines for corporate governance, particularly relevant for director conduct and responsibilities

Directors Code of Conduct: Specific guidelines governing director behavior, ethics, and professional conduct

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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