The Managing Partner Contract is a crucial document used when appointing a senior executive to a position of significant authority within a Saudi Arabian company. This agreement is particularly important in the Saudi business context, where clear delineation of authority and responsibility is essential for both legal and cultural reasons. The contract must comply with the Saudi Companies Law of 2015, relevant Ministry of Commerce regulations, and Sharia principles. It typically includes comprehensive provisions covering management powers, profit-sharing arrangements, decision-making authority, and compliance obligations. The document is especially relevant for family businesses, professional services firms, and companies transitioning to professional management structures. It serves as both a legal framework and a operational guide for the managing partner's role.
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1. Parties: Identification of the company and the managing partner, including full legal names and registration details
2. Background: Context of the appointment, company structure, and purpose of the agreement
3. Definitions: Key terms used throughout the agreement, including specific Saudi legal and business terminology
4. Appointment and Term: Formal appointment as managing partner, duration, and renewal provisions
5. Powers and Authority: Scope of management authority, decision-making powers, and limitations
6. Duties and Responsibilities: Core obligations, fiduciary duties, and specific management responsibilities
7. Remuneration and Benefits: Compensation structure, profit sharing, and additional benefits
8. Working Hours and Location: Time commitment expectations and primary place of work
9. Compliance and Reporting: Obligations regarding legal compliance, corporate governance, and reporting requirements
10. Confidentiality: Protection of company information and trade secrets
11. Non-Competition and Loyalty: Restrictions on competing activities and loyalty obligations
12. Termination: Grounds for termination, notice requirements, and consequences
13. Post-Termination Obligations: Continuing duties and restrictions after contract end
14. Governing Law and Jurisdiction: Application of Saudi law and dispute resolution mechanisms
1. Partnership Capital Contribution: Required if the managing partner is also making capital investments in the company
2. International Operations: Needed if the company operates across multiple jurisdictions
3. Intellectual Property Rights: Important for technology or innovation-focused businesses
4. Insurance and Indemnification: Additional protection provisions for high-risk industries
5. Succession Planning: Required for family businesses or where continuity planning is crucial
6. Religious Obligations: Specific provisions for accommodation of religious practices and obligations
7. Training and Development: Relevant for partners requiring specific professional development
8. Family Member Employment: Needed in family businesses to regulate employment of relatives
1. Schedule 1: Duties and Responsibilities: Detailed list of specific management duties and expectations
2. Schedule 2: Remuneration Package: Detailed breakdown of compensation, including base salary, profit share, and benefits
3. Schedule 3: Key Performance Indicators: Specific performance metrics and targets
4. Schedule 4: Authorized Activities: List of pre-approved activities and decisions within partner's authority
5. Schedule 5: Company Policies: Key corporate policies the managing partner must follow and enforce
6. Appendix A: Power of Attorney: Formal delegation of legal authority to act on behalf of the company
7. Appendix B: Conflict of Interest Declaration: Declaration of existing business interests and potential conflicts
8. Appendix C: Shareholders' Resolution: Copy of the shareholders' resolution approving the appointment
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Professional Services
Real Estate & Construction
Manufacturing
Technology
Healthcare
Retail & Consumer Goods
Energy & Resources
Education
Hospitality & Tourism
Transportation & Logistics
Agriculture & Food Production
Relevant Teams
Legal
Human Resources
Executive Office
Corporate Governance
Compliance
Finance
Corporate Affairs
Company Secretariat
Risk Management
Board Secretariat
Relevant Roles
Managing Partner
Executive Director
Chief Executive Officer
General Manager
Managing Director
Senior Partner
Executive Partner
Country Manager
Regional Director
Board Member
Company Director
Chief Operating Officer
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