The Key Person Agreement serves as a specialized employment contract used by UAE companies to retain and incentivize employees who are critical to their business operations or success. This document is particularly relevant when a company needs to secure the long-term commitment of senior executives, technical experts, or other vital personnel whose departure could significantly impact the business. The agreement, governed by UAE law, typically includes enhanced compensation packages, detailed performance metrics, robust confidentiality provisions, and specific post-employment restrictions, all structured to comply with UAE Labor Law (Federal Decree-Law No. 33 of 2021) and related regulations. It provides comprehensive protection for company interests while offering attractive terms to retain key talent.
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1. Parties: Identification of the employer company and the key person, including full legal names and addresses
2. Background: Context of the agreement, importance of the role, and reason for the key person arrangement
3. Definitions: Key terms used throughout the agreement, including specific performance metrics, confidential information, and intellectual property
4. Appointment and Term: Details of the position, effective date, and duration of the agreement
5. Duties and Responsibilities: Comprehensive outline of the key person's role, reporting lines, and expected contributions
6. Compensation and Benefits: Base salary, bonuses, and other benefits, including performance-based incentives
7. Performance Metrics: Specific KPIs and performance evaluation criteria
8. Confidentiality: Obligations regarding company information, trade secrets, and intellectual property
9. Non-Competition and Non-Solicitation: Restrictions on competitive activities and employee/client solicitation
10. Intellectual Property Rights: Assignment of IP created during employment and related obligations
11. Termination: Grounds for termination, notice periods, and consequences
12. Post-Termination Obligations: Continuing obligations after employment ends
13. Governing Law and Jurisdiction: Specification of UAE law application and dispute resolution mechanisms
1. Equity Participation: Terms of any share options or equity-based incentives, used when the key person is offered company ownership
2. International Mobility: Terms for international assignments or travel, included when role requires significant international work
3. Change of Control: Provisions addressing key person's rights in case of company sale/merger, relevant for senior executives
4. Garden Leave: Provisions for paid leave during notice period, typically for senior roles with sensitive information
5. Retention Bonus: Special bonus arrangements for retention purposes, used in critical roles or transition periods
6. Work Permits and Visas: Provisions regarding visa sponsorship and requirements, for non-UAE nationals
7. Clawback Provisions: Terms for recovering compensation in specific circumstances, typically for financial roles
1. Schedule 1 - Compensation Structure: Detailed breakdown of salary, bonuses, and benefits
2. Schedule 2 - Key Performance Indicators: Detailed metrics and targets for performance evaluation
3. Schedule 3 - Share Option Terms: Details of any equity-based compensation
4. Schedule 4 - Restricted Activities: Specific list of prohibited competitive activities
5. Schedule 5 - Company Policies: Key company policies applicable to the role
6. Appendix A - Job Description: Detailed description of duties and responsibilities
7. Appendix B - Benefits Summary: Comprehensive list of benefits and eligibility conditions
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