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Managing Partner Agreement
"I need a Managing Partner Agreement for our law firm in Kuala Lumpur, where the managing partner will have significant authority over international expansion and will be appointed effective March 1, 2025, with specific provisions for profit sharing and decision-making powers for opening new offices in Southeast Asia."
1. Parties: Identifies and defines all parties to the agreement, including the partnership entity and the managing partner
2. Background: Sets out the context of the agreement, including the partnership's business and the purpose of appointing a managing partner
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Appointment and Term: Details the appointment of the managing partner, commencement date, and duration of the appointment
5. Duties and Responsibilities: Comprehensive outline of the managing partner's roles, duties, and areas of responsibility
6. Authority and Limitations: Specifies the managing partner's decision-making powers and any limitations on authority
7. Remuneration and Benefits: Details the managing partner's compensation package, including profit share, salary, and benefits
8. Partnership Capital and Contributions: Outlines the managing partner's capital contribution requirements and related terms
9. Governance and Decision Making: Establishes the governance framework and decision-making processes
10. Confidentiality: Defines confidentiality obligations and protection of partnership information
11. Termination: Specifies grounds and procedures for terminating the agreement
12. Post-Termination Obligations: Details obligations and restrictions following termination
13. General Provisions: Standard boilerplate clauses including notices, entire agreement, governing law, etc.
1. Non-Compete and Non-Solicitation: Restrictive covenants to protect the partnership's interests - include when specific market protection is required
2. Intellectual Property Rights: Provisions regarding IP ownership and usage - include when IP is significant to the business
3. Insurance and Indemnification: Specific insurance requirements and indemnity provisions - include for high-risk industries
4. Alternative Dispute Resolution: Mediation or arbitration procedures - include when preferred over court litigation
5. Family Succession Rights: Rights of family members regarding partnership interest - include for family businesses
6. International Operations: Provisions for international business activities - include for partnerships with global operations
7. Partnership Representative: Appointment and powers of partnership representative - include for larger partnerships
1. Schedule 1: Remuneration Package: Detailed breakdown of compensation structure, including profit share calculations
2. Schedule 2: Key Performance Indicators: Specific performance metrics and targets for the managing partner
3. Schedule 3: Partnership Assets: List of key partnership assets under the managing partner's control
4. Schedule 4: Authorized Activities: Specific activities and transactions the managing partner is authorized to undertake
5. Schedule 5: Benefits Package: Detailed list of benefits, insurance coverage, and allowances
6. Appendix A: Partnership Structure: Organizational chart and management structure
7. Appendix B: Compliance Requirements: List of regulatory and compliance obligations
Authors
Professional Services
Legal Services
Accounting and Audit
Management Consulting
Architecture and Design
Medical Practices
Engineering Services
Real Estate Services
Financial Services
Technology Services
Business Advisory
Investment Management
Legal
Human Resources
Finance
Operations
Compliance
Risk Management
Corporate Governance
Partnership Secretariat
Executive Office
Business Development
Strategy
Managing Partner
Senior Partner
Executive Partner
Partnership Director
Chief Executive Partner
Head of Partnership
Practice Leader
Department Head
Regional Managing Partner
Founding Partner
equity Partner
Operating Partner
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