A management contract is a bilaterally binding and informal contract. It can also be a mixed contract if it contains elements of a contract of employment. The managerial contract regulates the labor-legal status of the manager, the obligations, powers and responsibilities of the manager, the method of communication and monitoring of the fulfillment of the business policy goals, the basic salary and remuneration for the achieved results, ethical rules, business risk insurance and the issue of compensation, compensation for the manager and a way of interpreting changes and termination of contracts. The form of the contract itself is not prescribed by law, which theoretically means that the managerial contract can be oral, but because of the complexity of the content and the importance of rights and obligations, it is reasonable that all elements of the managerial contract be specified in writing. Managers, after successful completion of the task, also expect to be rewarded, and it is extremely important that the company has a welldeveloped and attractive reward system. The awards bind the manager to the company with the goal of making long-term decisions that are important for the advancement and survival of the company.