Twenty-four service agreements have already been concluded between private and public institutions. Executive compensation in contemporary service contracts often consists of fixed pay, variable elements of remuneration and other benefits such as old age and health care, private service cars, mobile phones, laptops and tablets. In the case of variable remuneration, a profit-related bonus can be agreed to create incentives for the success of corporate governance. In addition, out-of-release bonuses, virtual and real stock option plans and equity management programs have become increasingly popular in recent years. More traditional clauses such as revenue and event compensation (jalons) are still part of many service management agreements under German law. From a company perspective, discretionary bonus systems – that is, bonuses that are more or less at the company`s discretion – generally seem preferable. It is therefore important to use contractual freedom in the development of the employment contract and to determine the fate of the manager`s employment in the event of termination of his duties. Depending on the views (either of the manager or the company), the interests of the parties to the termination of the employment relationship are generally very divergent. Depending on the interests pursued, special attention may be paid to the following contractual elements when drafting the contract. Employment lawyer Dr. Eric Uftring contributed to a detailed chapter on staff lease contracts. Order here. On the other hand, the management agreement that governs the working relationship between the manager and the company exists independently of his position within one of the company`s governing bodies.
Therefore, a management agreement does not automatically end when the manager is removed from his duties, but remains valid and effective, so that the company still owes the agreed remuneration even after the director`s departure. Another feature related to a German management contract is the treatment of the manager under German employment and social security law. As a general rule, the agreement defines the consideration of the activities of the management of the company, including the technical and leading agreements and the international hotel services agreements The provision of arbitration under Article 9 of the employment contract obliges the parties to submit to the arbitration procedure “any dispute, claim or controversy (hereafter the “claim”) which includes the interpretation of this agreement. , the terms or termination of the agreement or any other claim arising from the executive`s employment. Executive Service Agreement at 6.
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