Template of a Management Agreement

Are you looking to hire a management company to take care of your business? If so, you`ll need to have a management agreement in place to ensure that everyone involved is on the same page. A management agreement is a legal document that outlines the responsibilities of both the business owner and the management company. Here`s a template of a management agreement to help you get started.

1. Introduction

The first section of the management agreement should introduce the parties involved. This includes the name of the business and the name of the management company. It should also include a brief description of the purpose of the agreement.

2. Term of Agreement

Next, the agreement should specify the length of the contract. This section should state the start date and end date of the agreement, or indicate that the agreement will continue until terminated by either party.

3. Management Services

The management agreement should clearly state the services that the management company will provide. This could include anything from financial management to human resources to marketing. Be as specific as possible to avoid misunderstandings later on.

4. Compensation

This section should outline the compensation that the management company will receive for their services. This could be a flat fee or a percentage of the business`s profits. Be sure to include when and how often payment will be made.

5. Expenses

In addition to compensation, the management agreement should also specify which expenses the management company will be responsible for. This could include travel expenses, office expenses, or any other costs associated with providing the management services.

6. Confidentiality

The management agreement should include a confidentiality clause to protect the business`s sensitive information. This section should outline what information is considered confidential and how it will be protected.

7. Termination

Finally, the management agreement should specify the conditions under which the agreement can be terminated. This could include a breach of contract by either party or a mutual decision to end the agreement.

In conclusion, a management agreement is an essential document for any business that is considering hiring a management company. By using this template, you can create a clear and concise agreement that outlines the responsibilities of both parties and protects your business.