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Managing Partner Agreement for Belgium

Managing Partner Agreement Template for Belgium

A comprehensive legal agreement governed by Belgian law that establishes and regulates the relationship between a company and its managing partner. The document outlines the terms of appointment, duties, responsibilities, remuneration, and governance arrangements in accordance with the Belgian Code of Companies and Associations. It includes specific provisions for corporate governance, profit sharing, decision-making authority, and compliance with Belgian regulatory requirements, while addressing both the partner's management role and their relationship with other stakeholders in the organization.

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What is a Managing Partner Agreement?

The Managing Partner Agreement is a crucial document used when appointing senior leadership positions in Belgian companies. It serves as the primary contract governing the relationship between the company and a managing partner, establishing their rights, responsibilities, and terms of engagement. This agreement is particularly important in the Belgian legal context, where managing partners often have specific statutory duties and responsibilities under the Belgian Code of Companies and Associations. The document addresses key aspects such as corporate governance, decision-making authority, remuneration structures, and compliance obligations, while ensuring alignment with Belgian labor laws and tax regulations. It's essential for establishing clear parameters for leadership roles and protecting both the company's and the managing partner's interests.

What sections should be included in a Managing Partner Agreement?

1. Parties: Identification of the company and the managing partner, including their full legal names, addresses, and registration details

2. Background: Context of the appointment, including company structure and purpose of the agreement

3. Definitions: Key terms used throughout the agreement, including specific Belgian legal terminology

4. Appointment and Term: Terms of appointment, duration, and renewal conditions

5. Duties and Responsibilities: Detailed description of the managing partner's role, authority, and obligations

6. Time Commitment: Expected working hours and availability requirements

7. Remuneration: Base compensation, profit sharing, bonuses, and benefits structure

8. Expenses: Policy on business expenses and reimbursement procedures

9. Corporate Governance: Decision-making authority, reporting obligations, and compliance with corporate governance code

10. Confidentiality: Protection of company information and trade secrets

11. Intellectual Property: Ownership and rights regarding IP created during the partnership

12. Non-Competition: Restrictions on competitive activities during and after the partnership

13. Termination: Grounds and procedures for ending the agreement

14. Post-Termination Obligations: Continuing duties and restrictions after agreement ends

15. Governing Law and Jurisdiction: Confirmation of Belgian law application and dispute resolution procedures

What sections are optional to include in a Managing Partner Agreement?

1. External Activities: Include when the managing partner is permitted to engage in other business activities

2. Insurance: Include when specific insurance requirements are needed for the role

3. Performance Metrics: Include when specific KPIs or performance evaluation criteria are established

4. Shareholding Requirements: Include when the partner is required to maintain specific ownership levels

5. International Travel: Include when role involves significant international responsibilities

6. Force Majeure: Include when specific provisions for extraordinary circumstances are needed

7. Data Protection: Include when role involves significant personal data processing responsibilities

What schedules should be included in a Managing Partner Agreement?

1. Schedule 1 - Duties and Authority Matrix: Detailed breakdown of specific responsibilities and decision-making powers

2. Schedule 2 - Remuneration Structure: Detailed compensation package including formula for variable compensation

3. Schedule 3 - Company Policies: Key internal policies applicable to the managing partner

4. Schedule 4 - Performance Criteria: Specific metrics and targets for performance evaluation

5. Schedule 5 - Approved External Appointments: List of pre-approved external business activities

6. Appendix A - Share Option Scheme: Details of any share options or equity participation

7. Appendix B - Insurance Requirements: Specific insurance coverage requirements and terms

8. Appendix C - Expense Policy: Detailed rules and procedures for business expense claims

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

Jurisdiction

Belgium

Publisher

Genie AI

Cost

Free to use

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