MANAGEMENT AGREEMENT 1
MANAGEMENT AGREEMENT
This Agreement made on this [day] day of [month] of [year] Between Company and Management Agent (hereinafter the “Agreement”)
BETWEEN:
[Company name/address] (hereinafter the "Company"),
AND:
[Management Agent name/address] (hereinafter the “Management Agent"),
WHEREAS, Management Agent provides [specify services] (hereinafter the “Management Services”) and Company desires to receive Management Services from Management Agreement, under the terms and conditions of this Agreement (as defined below). NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, Company and Management Agent hereby agree as follows:
ARTICLE 1
APPOINTMENT AND SERVICES
Company hereby appoints Management Agent to provide the Management Services as detailed in this agreement. Management Agent therefore agrees to render to Company, by and through Management Agents employees, agents, representatives, affiliates and officers the services of [specify services]. Company acknowledges that certain events may require Management Agent to render services that go beyond the services detailed in this Agreement for the necessary fulfillment of this agreement, and that Management Agent is entitled to compensation for these services. Any additional efforts or services undertaken by Management Agent should be reasonable and promptly billed at a reasonable cost. Prior approval and written consent should be obtained from Company before any major additional efforts are undertaken by Management Agent in the fulfillment of this Agreement.
ARTICLE 2
FEES
In consideration of the performance of the services as detailed in this Agreement, Company agrees to pay Company an aggregate per annum fee of [amount] (hereinafter the “Fee”) for the period commencing on the date of this Agreement to the termination date of this Agreement. The date specified for the payment of this annual fee is [date]. Payment will be made by check, mailed to the business address of Management Agent, received by the date specified for payment.
ARTICLE 3
EXPENSES
In addition to the compensation for services paid to Management Agent under Article 2 of the Agreement Company shall reimburse Management Agent for reasonable Expenses (hereinafter the “Expenses”). The term
MANAGEMENT AGREEMENT 2
Expenses shall be defined, for the purposes of this Agreement, as the out-of-pocket expenses paid by Management Agent to complete the Management Services as necessary for the fulfillment of t