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Managing Director Contract Of Employment

Managing Director Contract Of Employment Template for Saudi Arabia

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Key Requirements PROMPT example:

Managing Director Contract Of Employment

"I need a Managing Director Contract of Employment under Saudi law for an expatriate hire from the UK joining our technology company in Riyadh, with special focus on share options and relocation benefits, starting March 1, 2025."

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Document background
The Managing Director Contract Of Employment is a crucial document used when appointing senior executives in Saudi Arabia. It serves as the primary agreement governing the employment relationship between a company and its Managing Director, incorporating requirements from Saudi Labor Law, Corporate Governance Regulations, and related legislation. This document is essential for companies operating in Saudi Arabia who need to formalize the appointment of a senior executive while ensuring compliance with local laws and regulations. The contract typically includes comprehensive terms covering responsibilities, compensation, benefits, and post-employment obligations, while also addressing specific Saudi requirements such as end of service benefits, working hours, and leave entitlements. It's particularly important for both Saudi and international companies operating in the Kingdom, especially given the increasing focus on corporate governance and transparency in the Saudi business environment.
Suggested Sections

1. Parties: Identification of the employer company and the Managing Director, including full legal names and addresses

2. Background: Brief context about the appointment and the company's business

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Position details, commencement date, and term of employment (fixed or indefinite)

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

6. Place of Work: Primary work location and travel requirements

7. Working Hours and Availability: Expected working hours while acknowledging the senior nature of the role

8. Remuneration: Base salary, payment frequency, and currency

9. Benefits and Allowances: Housing, transportation, and other standard benefits as per Saudi Labor Law

10. Annual Leave and Public Holidays: Vacation entitlement and public holiday provisions

11. Medical Insurance: Health insurance coverage for the director and eligible dependents

12. Confidentiality: Protection of company confidential information and trade secrets

13. Intellectual Property: Ownership and protection of IP created during employment

14. Non-Competition and Non-Solicitation: Post-employment restrictions in line with Saudi law

15. Termination: Grounds and procedures for contract termination

16. End of Service Benefits: Calculation and payment of end of service gratuity

17. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution

Optional Sections

1. International Relocation: For expatriate appointments, including visa support and relocation assistance

2. Performance Bonus: If the company offers variable compensation based on performance

3. Share Schemes: If the director is eligible for share options or other equity participation

4. Corporate Governance: Additional responsibilities related to board meetings and corporate governance

5. Educational Allowance: For expatriate directors with school-age children

6. Secondment Terms: If the director is seconded from another group company

7. Multiple Directorships: If the director holds positions in multiple group companies

8. Emergency Succession: Procedures for temporary replacement in case of emergency

Suggested Schedules

1. Schedule 1 - Job Description: Detailed outline of responsibilities and key performance indicators

2. Schedule 2 - Remuneration Package: Detailed breakdown of salary components and benefits

3. Schedule 3 - Bonus Scheme Rules: Details of any performance-based compensation

4. Schedule 4 - Company Policies: List of key company policies applicable to the role

5. Schedule 5 - Share Scheme Terms: Details of any share options or equity participation

6. Appendix A - Power of Attorney: Scope of authority granted to the Managing Director

7. Appendix B - Confidential Information: Specific definition and examples of confidential information

8. Appendix C - Group Structure: Overview of corporate structure if multiple directorships are involved

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

alex.den.21@genieai.co
Relevant legal definitions









































Clauses














































Relevant Industries

Banking and Financial Services

Manufacturing

Oil and Gas

Technology

Healthcare

Real Estate and Construction

Retail and Consumer Goods

Telecommunications

Professional Services

Education

Hospitality and Tourism

Transportation and Logistics

Mining and Metals

Energy and Utilities

Media and Entertainment

Relevant Teams

Human Resources

Legal

Board Secretariat

Corporate Governance

Compliance

Executive Office

Finance

Administration

Risk Management

Corporate Affairs

Relevant Roles

Managing Director

Chief Executive Officer

Executive Director

General Manager

Country Manager

Regional Director

Division Director

Senior Vice President

Executive Vice President

Chief Operating Officer

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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