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Managing Director Agreement

Managing Director Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Managing Director Agreement

"I need a Managing Director Agreement under Hong Kong law for appointing a new MD to lead our fintech startup, including provisions for share options and potential IPO considerations, with employment starting March 1, 2025."

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Document background
The Managing Director Agreement is a crucial document used when appointing a senior executive to lead a company's operations in Hong Kong. It combines elements of both an employment contract and a corporate governance document, reflecting the dual role of the Managing Director as both a senior employee and a key officer of the company. This agreement is particularly important in the Hong Kong business context, where it must comply with specific requirements under the Companies Ordinance (Cap. 622) and Employment Ordinance (Cap. 57). The document typically includes comprehensive provisions covering corporate duties, strategic responsibilities, remuneration packages, equity participation, and protection of company interests through confidentiality and post-termination restrictions. It's essential for establishing clear parameters of authority, accountability, and performance expectations while protecting both the company's and the director's interests.
Suggested Sections

1. Parties: Identification of the company and the managing director

2. Background: Context of the appointment and general purpose of the agreement

3. Definitions and Interpretation: Key terms used throughout the agreement and interpretation rules

4. Appointment and Term: Position, appointment date, and term (fixed or indefinite)

5. Duties and Responsibilities: Core duties as managing director, board member, and executive

6. Time Commitment and Exclusivity: Working hours, dedication requirements, and restrictions on other activities

7. Remuneration and Benefits: Base salary, bonuses, and standard benefits package

8. Corporate Governance: Compliance with company policies, regulatory requirements, and corporate governance standards

9. Vacation and Leave: Annual leave entitlement and procedures

10. Confidentiality: Protection of confidential information and trade secrets

11. Intellectual Property: Ownership and protection of IP created during directorship

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

13. Post-Termination Obligations: Non-compete, non-solicitation, and other post-employment restrictions

14. Company Property: Return of company assets and information upon termination

15. Data Protection: Handling of personal data and privacy compliance

16. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement

Optional Sections

1. Share Options and Equity Participation: Include when offering equity-based compensation or share options

2. International Travel: Include for roles requiring significant international travel

3. Subsidiary Directorships: Include when MD will serve on boards of subsidiary companies

4. Representation on Industry Bodies: Include when MD is expected to represent company in industry associations

5. Relocation Terms: Include when role involves relocation

6. Garden Leave: Include if company wants right to place MD on paid leave during notice period

7. Change of Control: Include provisions dealing with company sale or merger

8. Medical Benefits Extension: Include if offering post-termination medical coverage

9. Signing Bonus: Include if offering one-time signing incentive

10. Indemnification: Include detailed indemnification terms if not covered in company constitution

Suggested Schedules

1. Schedule 1: Duties and Responsibilities: Detailed list of specific duties and responsibilities

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

3. Schedule 3: Share Option Terms: Details of any share option or equity participation scheme

4. Schedule 4: Performance Metrics: KPIs and performance evaluation criteria

5. Schedule 5: Expense Policy: Policies regarding business expenses and reimbursement

6. Schedule 6: Company Policies: Key company policies applicable to the role

7. Appendix A: Board Resolution: Copy of board resolution approving the appointment

8. Appendix B: Job Description: Detailed job description and reporting relationships

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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








































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Relevant Industries

Financial Services

Technology

Manufacturing

Real Estate

Professional Services

Retail

Healthcare

Telecommunications

Energy

Transportation and Logistics

Construction

Media and Entertainment

Education

Hospitality

Consumer Goods

Insurance

Mining and Resources

Agricultural Business

Pharmaceutical

Infrastructure

Relevant Teams

Board of Directors

Executive Committee

Senior Management

Corporate Governance

Human Resources

Legal

Company Secretariat

Compliance

Risk Management

Corporate Strategy

Operations

Finance

Relevant Roles

Managing Director

Executive Director

Chief Executive Officer

Joint Managing Director

Group Managing Director

Regional Managing Director

Country Managing Director

Division Managing Director

Executive Vice President

General Manager

Chief Operating Officer

President

Senior Managing Director

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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