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The Managing Director Contract Of Employment is a crucial document used when appointing senior executive leadership in UAE-based companies. It serves as both an employment agreement and a governance document, establishing the terms of service, scope of authority, and responsibilities of the Managing Director while ensuring compliance with UAE Federal Law No. 33 of 2021 and related regulations. This contract is typically implemented when appointing new Managing Directors, promoting internal candidates to the position, or updating terms for existing Managing Directors to comply with current legislation. The document addresses specific UAE requirements such as WPS salary payment, end-of-service benefits, and working hours, while also incorporating corporate governance elements, performance metrics, and executive-level benefits appropriate for senior leadership positions.

1. Parties: Identification of the employer company and the Managing Director, including full legal names and addresses

2. Background: Context of the appointment and brief description of the company's business

3. Definitions: Key terms used throughout the agreement including 'Board', 'Business', 'Confidential Information', etc.

4. Appointment and Term: Position title, effective date, and duration of appointment (fixed-term or unlimited)

5. Duties and Responsibilities: Detailed description of the Managing Director's role, obligations, and scope of authority

6. Time Commitment and Exclusivity: Working hours, dedication requirements, and any restrictions on other business activities

7. Place of Work: Primary work location and travel requirements

8. Remuneration: Base salary, payment frequency, and method of payment in compliance with UAE WPS

9. Benefits and Allowances: Housing, transport, medical insurance, and other benefits

10. Annual Leave and Public Holidays: Holiday entitlement and rules for taking leave as per UAE labor law

11. Sickness and Medical Insurance: Sick leave entitlements and health insurance provisions

12. Corporate Governance: Compliance with company policies, regulatory requirements, and board directions

13. Confidentiality: Protection of company information and trade secrets

14. Intellectual Property: Ownership of work product and innovations

15. Termination: Grounds for termination, notice periods, and consequences

16. Post-Termination Obligations: Return of company property and ongoing confidentiality obligations

17. End of Service Gratuity: Calculation and payment of gratuity as per UAE labor law

18. Governing Law and Jurisdiction: UAE law as governing law and jurisdiction of UAE courts