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The Salaried Partner Agreement is utilized when a professional services firm wishes to elevate a senior professional to partner status while maintaining an employment relationship rather than granting full equity partnership. This hybrid arrangement, common in the Philippines, provides the status and certain privileges of partnership while offering the security of a fixed salary and employment benefits. The document needs to comply with Philippine labor laws, partnership regulations, and professional standards, making it particularly important to balance partner rights with employment obligations. The agreement typically includes detailed provisions on compensation, governance rights, professional duties, restrictive covenants, and termination procedures, while considering local legal requirements and market practices in the Philippines.

1. Parties: Identification of the partnership/firm and the incoming salaried partner

2. Background: Context of the agreement, including the firm's structure and the basis for appointing the salaried partner

3. Definitions: Key terms used throughout the agreement including 'Salaried Partner', 'Partnership', 'Profit Share', etc.

4. Appointment and Term: Terms of appointment as salaried partner, including commencement date and duration

5. Status and Duties: Definition of the salaried partner's role, responsibilities, and authority within the firm

6. Compensation and Benefits: Base salary, bonus structure, benefits, and any profit-sharing arrangements

7. Working Hours and Leave: Expected working arrangements and entitlement to various types of leave

8. Governance Rights: Voting rights and participation in partnership decisions

9. Professional Requirements: Maintenance of professional qualifications, insurance, and compliance obligations

10. Confidentiality: Obligations regarding firm and client confidential information

11. Non-Competition and Non-Solicitation: Restrictions during and after the agreement term

12. Intellectual Property: Ownership and rights regarding work product and firm IP

13. Termination: Grounds and procedures for termination of the agreement

14. Post-Termination Obligations: Continuing obligations after agreement termination

15. General Provisions: Standard boilerplate clauses including governing law, notices, and amendments