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Managing Director Service Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Managing Director Service Agreement

I need a Managing Director Service Agreement for a UAE-based technology company, where the director will oversee multiple subsidiaries across the GCC region and have significant equity participation through a share option scheme.

Document background
The Managing Director Service Agreement is a crucial document used when appointing senior executives in UAE-based companies. It serves as the primary contract governing the relationship between the company and its Managing Director, incorporating specific requirements under UAE Federal Labor Law No. 8 of 1980 and Commercial Companies Law No. 2 of 2015. This agreement is essential for establishing clear parameters around executive authority, corporate governance, remuneration, and performance expectations. It typically includes comprehensive provisions for confidentiality, non-competition, and intellectual property rights, while addressing specific UAE requirements such as visa sponsorship for expatriate directors and local employment regulations. The document is particularly important for ensuring compliance with UAE corporate governance standards and protecting both the company's and the executive's interests.
Suggested Sections

1. Parties: Identification of the company and the managing director

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

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Official appointment, position title, and duration of the agreement

5. Duties and Powers: Detailed responsibilities, authority limits, and reporting relationships

6. Time Commitment: Expected working hours and dedication to the role

7. Remuneration: Base salary, bonuses, and other financial benefits

8. Benefits: Non-financial benefits including healthcare, accommodation, transportation

9. Business Expenses: Policy on reimbursement of business-related expenses

10. Leave Entitlement: Annual leave, public holidays, and other authorized absences

11. Confidentiality: Protection of company information and trade secrets

12. Intellectual Property: Ownership of work product and innovations

13. Non-Competition: Restrictions on competing activities during and after employment

14. Termination: Grounds for termination and associated procedures

15. Post-Termination Obligations: Continuing duties after employment ends

16. Governing Law and Jurisdiction: Application of UAE law and dispute resolution

Optional Sections

1. Residency and Work Permits: Required for expatriate managing directors, covering visa sponsorship and requirements

2. Board Position: Include if the managing director will also serve on the board of directors

3. Share Options: Details of any share option schemes or equity participation

4. International Travel: Include if role requires significant international travel

5. Multiple Directorships: Required if managing director holds positions in group companies

6. Performance Targets: Specific KPIs and performance measurement criteria

7. Corporate Governance: Additional requirements for listed companies or regulated industries

8. Delegation of Authority: Specific powers to delegate duties to other executives

Suggested Schedules

1. Schedule 1 - Duties and Responsibilities: Detailed list of specific duties and responsibilities

2. Schedule 2 - Remuneration Package: Detailed breakdown of salary, bonuses, and payment structures

3. Schedule 3 - Benefits Package: Comprehensive list of benefits and allowances

4. Schedule 4 - Performance Metrics: Detailed performance evaluation criteria and bonus calculations

5. Schedule 5 - Company Policies: Key company policies applicable to the role

6. Schedule 6 - Restricted Activities: Detailed list of prohibited competitive activities

7. Appendix A - Power of Attorney: If applicable, specific powers granted to the managing director

8. Appendix B - Company Group Structure: If managing multiple entities, overview of group structure

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




























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Relevant Industries

Financial Services

Technology

Manufacturing

Real Estate

Healthcare

Retail

Energy

Construction

Telecommunications

Professional Services

Hospitality

Aviation

Maritime

Education

Media and Entertainment

Relevant Teams

Legal

Human Resources

Board of Directors

Executive Management

Corporate Governance

Compliance

Company Secretariat

Risk Management

Corporate Affairs

Talent Acquisition

Relevant Roles

Managing Director

Chief Executive Officer

Executive Director

General Manager

Country Manager

Regional Director

Division Director

Board Member

Company Director

Senior Executive Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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