The Managing Partner Agreement is a crucial document used when a partnership needs to formally appoint and define the role of its managing partner under Philippine law. This agreement is essential for partnerships seeking to establish clear governance structures and leadership roles, particularly in professional services, family businesses, and commercial ventures. It comprehensively addresses the managing partner's duties, powers, compensation, and relationships with other partners while ensuring compliance with Philippine legal requirements, including the Civil Code and relevant business regulations. The document is particularly important in the Philippine context where many businesses operate as partnerships and require clear management structures to ensure smooth operations and succession planning.
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1. Parties: Identification of the partnership entity and the managing partner
2. Background: Context of the appointment and brief description of the partnership business
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Formal appointment as managing partner and duration of the appointment
5. Powers and Duties: Detailed description of management authority and responsibilities
6. Partnership Interests: Managing partner's ownership stake and capital contribution
7. Compensation and Benefits: Base compensation, profit share, and other benefits
8. Decision Making Authority: Scope of autonomous decisions and matters requiring partner approval
9. Meetings and Reporting: Requirements for partner meetings and financial/operational reporting
10. Confidentiality: Protection of partnership's confidential information
11. Non-Competition: Restrictions on competing activities during and after the term
12. Termination: Grounds and procedures for ending the agreement
13. Governing Law: Confirmation of Philippine law application and jurisdiction
14. Dispute Resolution: Process for resolving disagreements
15. General Provisions: Standard boilerplate clauses including notices, amendments, etc.
1. Intellectual Property: Required when the partnership develops or owns significant IP
2. International Operations: Needed when the partnership operates in multiple countries
3. Succession Planning: Important for partnerships where continuity planning is crucial
4. Insurance Requirements: Specific insurance obligations for high-risk industries
5. Environmental Compliance: Required for partnerships in industries with environmental impact
6. Data Protection: Detailed provisions when handling significant personal or sensitive data
7. Related Party Transactions: Rules for dealing with related entities or family members
1. Schedule A - Compensation Structure: Detailed breakdown of compensation, profit share calculation, and benefits
2. Schedule B - Performance Metrics: Specific KPIs and performance evaluation criteria
3. Schedule C - Partnership Assets: List of key partnership assets under managing partner's control
4. Schedule D - Authorized Activities: Specific activities and transactions the managing partner can undertake without additional approval
5. Schedule E - Reporting Requirements: Templates and timing for required financial and operational reports
6. Appendix 1 - Partnership Agreement Extract: Relevant sections from main partnership agreement
7. Appendix 2 - Conflict Resolution Procedures: Detailed procedures for handling partnership disputes
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