[OLNEY-FRASER ([REGION]) LLP]
[PRINCIPAL OFFICE ADDRESS]
[DATE]
[CANDIDATE NAME][CANDIDATE ADDRESS]
Re: Offer of Partnership — [Olney-Fraser ([Region]) LLP]
Dear [CANDIDATE NAME],
On behalf of [Olney-Fraser ([Region]) LLP] (the “Partnership”), I am delighted to confirm that the Management Committee has approved your admission as a Partner of the Partnership, on the joint recommendation of [the Country Managing Partner,] the Regional Managing Partner, and the Practice Group Leader for [PRACTICE GROUP].
Please read this letter carefully. This is an offer of partnership, not an offer of employment. If you accept, you will become a Partner — not an employee — of the Partnership, governed by the [Olney-Fraser ([Region]) LLP] Partnership Agreement (the “Partnership Agreement”) and the Olney-Fraser Global Governance Framework Agreement it incorporates by reference (the “Governance Framework”). Your remuneration will take the form of a share of the Partnership's Fee Splits, Referral Fees, and Partnership Bonus Points as described below and in the Partnership Agreement, not a salary or wage, and the Partnership intends to treat you as a self-employed partner, and not as an employee, for tax and other purposes, subject to applicable law.
KEY TERMS
Effective Date: [EFFECTIVE DATE]
Status: Partner of the Partnership. The Partnership has a single class of Partners; there are no equity or non-equity tiers, and you will have the same vote as every other Partner (one Partner, one vote) under Section 6.4 of the Partnership Agreement.
Practice Group: [PRACTICE GROUP]
Office Location: [CITY/COUNTRY]
Capital Contribution: None required. Partners do not hold a capital account and are not entitled to a capital repayment on withdrawal, consistent with Section 5.1 of the Partnership Agreement.
Remuneration: A Fee Split equal to forty percent (40%) of fees the Partnership actually collects on matters for which you are the responsible partner (Section 5.2), plus a Referral Fee equal to ten percent (10%) of fees the Partnership actually collects on matters for which you are the referring partner (Section 5.3), calculated quarterly, together with any Partnership Bonus Points the Remuneration Committee awards having regard to the factors in Section 5.4 of the Partnership Agreement. Amounts are paid as monthly drawings under Section 5.5.
Working Arrangement: [DESCRIBE AGREED ARRANGEMENT, e.g., full-time / part-time / hybrid]. You may request to vary this arrangement, and may combine your practice with other professional or personal activities, consistent with Section 4.5 of the Partnership Agreement.
Name and Brand: You may use the name “Olney-Fraser” and associated marks in the ordinary course of your practice under the Partnership's Sub-Licence, subject to the Management Company's brand guidelines.
CONDITIONS OF THIS OFFER
Your execution of the Agreement to Join the Partnership in the form the Partnership provides with this letter, confirming your agreement to be bound by the Partnership Agreement and the Governance Framework.
Satisfactory completion of conflicts clearance through Olney-Fraser's Global Conflicts Database, based on the information in your application.
Confirmation that you remain in good standing with every bar, law society, or regulator with which you are admitted or registered as of the Effective Date.
[Where applicable law or regulation requires, approval of your admission as a Partner by the relevant regulator.]
Your written confirmation that joining the Partnership will not breach any enforceable obligation you owe to your current or former firm, other than any restriction on the practice of law that is unenforceable under applicable Rules of Professional Conduct.
This offer, and its terms, are confidential and should not be disclosed other than to your own professional or financial advisors, or as required by law, until your admission is publicly announced.
This offer remains open for acceptance until [EXPIRY DATE]. If you have any questions, please contact me directly.
We hope you will join us.
ACCEPTANCE
I accept the offer of partnership on the terms set out in this letter and the enclosed Agreement to Join the Partnership.