Does my company need to have a management agreement?

It is crucial that you make clear agreements in writing between the company and its board-members/directors/managers. A management agreement is a commission and freelance contract between a board-member/director/manager and the company, whereby the person who performs management tasks receives a management fee instead of wage or salary. In the management agreement you can agree upon, for instance, the purpose and duration of the co-operation, the authority and obligations of both parties and the height of the management fee.

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