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Salaried Partner Agreement for Pakistan

Salaried Partner Agreement Template for Pakistan

A comprehensive agreement governed by Pakistani law that establishes the terms and conditions for appointing a salaried partner within a professional services firm. The document outlines the hybrid position of a salaried partner, combining elements of partnership status with employment rights under Pakistani legislation. It addresses key aspects including remuneration, duties, benefits, and obligations while ensuring compliance with local partnership laws, employment regulations, and social security requirements. The agreement incorporates specific provisions relevant to the Pakistani business environment and may include considerations for Islamic business principles where applicable.

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What is a Salaried Partner Agreement?

The Salaried Partner Agreement is essential for professional services firms in Pakistan looking to promote senior professionals to partner level while maintaining a structured employment relationship. This document type bridges the gap between traditional employment and full equity partnership, providing a framework for professionals to assume partner status with associated benefits and responsibilities, while receiving a fixed salary rather than purely equity-based compensation. The agreement must comply with Pakistani partnership laws, employment regulations, and tax requirements, while potentially incorporating Islamic business principles. It typically includes detailed provisions on partner duties, remuneration structure, profit sharing arrangements, non-competition restrictions, and termination terms. This document is particularly relevant for growing professional services firms seeking to expand their partner ranks while managing risk and maintaining operational control.

What sections should be included in a Salaried Partner Agreement?

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

2. Background: Context of the appointment and nature of the partnership business

3. Definitions: Key terms used throughout the agreement

4. Appointment and Status: Terms of appointment as salaried partner and clarification of employment status

5. Duration and Term: Commencement date and term of the agreement

6. Duties and Responsibilities: Partner's specific roles, obligations, and expectations

7. Working Hours and Location: Standard working arrangements and flexibility requirements

8. Remuneration: Base salary, profit share arrangements, and other financial benefits

9. Benefits and Allowances: Additional benefits including healthcare, vehicle allowance, etc.

10. Leave Entitlements: Annual, sick, and other leave provisions

11. Confidentiality: Protection of firm's confidential information

12. Non-Competition: Restrictions during and after partnership

13. Intellectual Property: Ownership of work product and innovations

14. Termination: Grounds and procedures for ending the agreement

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

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

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

1. Islamic Finance Compliance: Required if firm operates under Islamic banking principles

2. International Work: Include if partner will handle cross-border matters

3. Client Development Targets: Include if partner has specific business development responsibilities

4. Training and Development: Include for partners with teaching or mentoring responsibilities

5. Partnership Path: Include if there's a defined path to equity partnership

6. Voting Rights: Include if salaried partner has voting rights in firm decisions

7. Pro Bono Commitments: Include if firm has specific pro bono requirements

8. Remote Working: Include if allowing flexible working arrangements

What schedules should be included in a Salaried Partner Agreement?

1. Schedule 1 - Remuneration Details: Detailed breakdown of salary, profit share formula, and bonus structure

2. Schedule 2 - Benefits Package: Comprehensive list of benefits and allowances

3. Schedule 3 - Performance Metrics: Key performance indicators and assessment criteria

4. Schedule 4 - Restricted Clients: List of clients covered by non-solicitation provisions

5. Schedule 5 - Firm Policies: Key firm policies applicable to salaried partners

6. Appendix A - Partner Responsibilities: Detailed description of partner's role and responsibilities

7. Appendix B - Geographical Restrictions: Details of geographical limitations for non-compete provisions

8. Appendix C - Insurance Coverage: Details of professional indemnity and other insurance provisions

Authors

Alex Denne

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

Jurisdiction

Pakistan

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions








































Clauses









































Relevant Industries

Legal Services

Accounting and Audit

Management Consulting

Financial Services

Tax Advisory

Professional Services

Architecture

Engineering Consultancy

Healthcare (Medical Practices)

Real Estate Advisory

Relevant Teams

Legal

Corporate

Finance

Human Resources

Operations

Professional Development

Risk and Compliance

Business Development

Client Services

Management Committee

Partnership Board

Executive Committee

Relevant Roles

Senior Associate

Director

Principal

Senior Manager

Department Head

Practice Leader

Managing Associate

Senior Consultant

Technical Director

Chief Operating Officer

Executive Director

Regional Manager

Senior Project Manager

Head of Department

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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