between _____________________, (Hereinafter called "Company")
and ______________________, (Hereinafter called "Managing Director")
Tasks and duties
1. ___________________is the Managing Director of the Company. He/She represents the Company in accordance with the provisions of the Articles of Association of the Company and the regulations of the shareholders. ___________________is exempted from provisions under Article 181 of BGB (Civil Law Code).
2. The Company can appoint additional Managing Directors. From time to time, the Managing Directors are to determine the division of responsibilities among them.
3. __________________ conducts business in accordance with the provisions of law, the Articles of Association, other possible rules of business and the regulations of the shareholders.__________________ is free in the manner of exercising his duty.
4. ___________________ is to dedicate his/her entire professional interests, and his/her expertise and knowledge exclusively to the Company. The assumption of subsidiary activities with or without remuneration, honorary duties as well as board memberships, memberships on advisory boards or similar offices require written authorization from the shareholders.
Duration of the Contract
1. This contract begins on _____________________.
2. The contract is concluded for an undetermined period of time.
3. This contract can be terminated by each party by giving 6 months' notice to the end of a calendar month.
4.Termination of the contract must be made in writing. The termination by _______________ is to be made to the Company if the post of an additional Managing Director is filled, otherwise termination of the contract is to be made to the shareholder with the highest capital investment in the Company. A termination on the part of the Company is carried out as written notification of a corresponding decision made by the shareholders.
5. After a termination of this contract by either party with or without due notice, the Company has the right to immediately release ________________ from his/her duties in the Company.
6. This contract ends without termination at the end of the calendar month in which _________________ has reached the age of 65.
7. The appointment of __________________to the post of Managing Director can be revoked at any time by a decision of the shareholders without impairment to his/her compensation claims under the contract. The revocation is to be considered as termination of this contract to take effect at the next possible period in time.
1. __________________ receives as remuneration for his/her duties an gross annual salary of Euro __________________. The annual salary - less allowable legal deductions - is to be paid in 12 equal installments, each installment at the end of each calendar month.
2. Besides the regular salary, ___________________ is eligible to a bonus to the amount of 30 percent of the basis of valuation. The Basis of valuation is the profit of the year before the deduction of shares and income taxes and after the charging of all losses. The bonus is limited to 1/3 of the regular salary.
3. The Bonus has to be paid one month after the approval of the annual balance by the shareholdermeeting. It will be paid off together with the salary of that month.
4. The payment of the bonus is inapplicable for the year of the discharge of the Managing Director, if he is discharged for just cause. If the Managing ...
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