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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.
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
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
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
Financial Services
Technology
Manufacturing
Real Estate
Healthcare
Retail
Energy
Construction
Telecommunications
Professional Services
Hospitality
Aviation
Maritime
Education
Media and Entertainment
Legal
Human Resources
Board of Directors
Executive Management
Corporate Governance
Compliance
Company Secretariat
Risk Management
Corporate Affairs
Talent Acquisition
Managing Director
Chief Executive Officer
Executive Director
General Manager
Country Manager
Regional Director
Division Director
Board Member
Company Director
Senior Executive Officer
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