Managing Partner Contract Template for Saudi Arabia

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Key Requirements PROMPT example:

Managing Partner Contract

"I need a Managing Partner Contract for a Saudi family-owned construction company, appointing a non-family member as managing partner starting March 1, 2025, with specific emphasis on succession planning and family business governance."

Document background

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.

Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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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