Managing Partner Contract Template for Philippines

The Managing Partner Contract serves as a crucial legal framework for businesses operating in the Philippines that wish to formalize the appointment and rights of a senior partner who will take on primary management responsibilities. This document is essential when a partnership or company needs to establish clear parameters for leadership, combining both ownership and management aspects in a single role. The agreement must comply with Philippine legislation, including the Corporation Code, Civil Code, and relevant labor laws, while addressing specific business needs such as profit sharing, management authority, and succession planning. The contract typically becomes necessary during partnership formation, leadership transitions, or when formalizing existing arrangements, and should be customized based on the organization's size, industry, and specific requirements.

1. Parties: Identification of the partnership/company and the managing partner, including their complete legal names and addresses

2. Background: Context of the appointment, brief description of the business, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Formal appointment as managing partner, duration of appointment, and renewal terms

5. Partnership Interest: Details of the partner's ownership stake, capital contribution, and profit sharing arrangement

6. Roles and Responsibilities: Comprehensive outline of the managing partner's duties, authority, and scope of responsibility

7. Management Authority: Specific powers granted to the managing partner and any limitations on authority

8. Compensation and Benefits: Details of salary, profit share, bonuses, and other benefits

9. Fiduciary Duties: Partner's obligations of loyalty, care, and good faith to the partnership/company

10. Non-Competition and Confidentiality: Restrictions on competing activities and protection of confidential information

11. Termination: Grounds for termination, notice requirements, and consequences of termination

12. Partnership Exit Provisions: Process and terms for the managing partner's exit from the partnership

13. Dispute Resolution: Procedures for resolving disputes, including mediation and arbitration provisions

14. Governing Law: Specification of Philippine law as governing law and jurisdiction

15. General Provisions: Standard boilerplate clauses including notices, amendments, and severability