The Employee Partnership Agreement is designed for use in the Philippine business context where companies wish to offer key employees an ownership stake while maintaining an employment relationship. This hybrid agreement, governed by Philippine law, is commonly used in professional services firms, consulting practices, and other businesses where retaining top talent through ownership opportunities is crucial. The document combines elements of standard employment contracts (compliant with the Philippine Labor Code) with partnership provisions, addressing areas such as profit sharing, management rights, and exit mechanisms. It's particularly valuable for businesses looking to implement succession planning or establish professional partnerships while maintaining clear employment structures. The agreement must carefully balance the dual status of the individual as both employee and partner, ensuring compliance with both employment and partnership laws in the Philippines.
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1. Parties: Identification of the employer/partnership entity and the employee-partner
2. Background: Context of the agreement and existing relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Partnership Terms: Details of partnership stake, voting rights, and capital contribution
5. Employment Terms: Employment position, duties, and responsibilities
6. Remuneration and Benefits: Salary, partnership profit share, and employee benefits
7. Working Hours and Leave: Work schedule, overtime, and leave entitlements as per Philippine Labor Code
8. Confidentiality and Intellectual Property: Protection of company information and IP rights
9. Non-Competition and Non-Solicitation: Restrictions on competitive activities and client/employee solicitation
10. Decision Making and Management: Partner's role in company management and voting procedures
11. Termination: Grounds and procedures for ending employment and/or partnership relationship
12. Exit Provisions: Process for partnership stake valuation and buyout upon departure
13. Governing Law and Dispute Resolution: Application of Philippine law and dispute resolution procedures
1. International Travel: Include when role requires international travel or assignments
2. Performance Targets: Include when partnership rights are tied to performance metrics
3. Training and Development: Include when specific professional development requirements exist
4. Additional Responsibilities: Include when employee-partner has specific extra duties beyond standard role
5. Equity Vesting Schedule: Include when partnership stake vests over time
6. Disability and Incapacity: Include detailed provisions for managing long-term illness or incapacity
7. Family and Medical Leave: Include extended provisions beyond statutory requirements
1. Schedule 1 - Position Description: Detailed description of employment role and responsibilities
2. Schedule 2 - Remuneration Package: Detailed breakdown of salary, benefits, and profit-sharing formula
3. Schedule 3 - Partnership Capital: Details of initial and ongoing capital contributions
4. Schedule 4 - Company Policies: Key company policies affecting employee-partners
5. Schedule 5 - Valuation Methodology: Agreed method for valuing partnership stake upon exit
6. Appendix A - Performance Metrics: Specific KPIs and targets for bonus/profit share calculation
7. Appendix B - Benefits Summary: Summary of all employee and partner benefits
8. Appendix C - Restricted Clients: List of clients covered by non-solicitation provisions
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