The Interim Management Agreement is a specialized contract used when organizations require temporary senior leadership during transitions, crises, or periods of organizational change. This document, compliant with Canadian federal and provincial legislation, is essential when companies need experienced executives to maintain operational continuity, lead strategic initiatives, or manage specific projects without permanent commitment. The agreement typically includes comprehensive terms covering responsibilities, authority levels, compensation, performance metrics, and termination provisions. It's particularly valuable during leadership vacancies, organizational restructuring, or when specific expertise is needed for a limited duration. The document carefully balances the need for significant authority delegation with the temporary nature of the arrangement, while ensuring compliance with Canadian corporate governance requirements and employment laws.
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1. Parties: Identification of the contracting parties - the company and the interim manager/management firm
2. Background: Context of the appointment, including the reason for requiring interim management services
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Scope of the appointment, position title, and duration of the interim management arrangement
5. Duties and Responsibilities: Detailed description of the interim manager's role, responsibilities, and authority levels
6. Time Commitment: Expected working hours, availability, and any provisions for additional time
7. Fees and Expenses: Compensation structure, payment terms, and reimbursable expenses
8. Reporting and Performance: Reporting relationships, performance metrics, and evaluation criteria
9. Confidentiality: Obligations regarding confidential information and trade secrets
10. Intellectual Property: Ownership and rights to intellectual property created during the engagement
11. Non-Competition and Non-Solicitation: Restrictions on competitive activities and solicitation of employees/clients
12. Termination: Circumstances and procedures for ending the agreement
13. Insurance and Liability: Insurance requirements and limitation of liability provisions
14. General Provisions: Standard clauses including governing law, notices, and entire agreement
1. International Assignment Provisions: Additional terms for cross-border assignments including visa requirements and international tax considerations
2. Specific Industry Compliance: Additional provisions for regulated industries (e.g., financial services, healthcare)
3. Team Management: Provisions regarding the interim manager's authority to manage and make changes to existing team structure
4. Crisis Management: Specific provisions for interim managers brought in for turnaround or crisis situations
5. Transition Services: Terms regarding handover to permanent management
6. Board Participation: Terms regarding participation in board meetings and interaction with the board of directors
7. Equity Participation: Terms regarding any equity-based compensation or investment opportunities
8. Force Majeure: Provisions for unforeseen circumstances that may affect the interim management arrangement
1. Schedule A - Services Description: Detailed scope of services and deliverables
2. Schedule B - Fee Structure: Detailed breakdown of fees, payment schedule, and expense categories
3. Schedule C - Key Performance Indicators: Specific performance metrics and targets
4. Schedule D - Company Policies: Relevant company policies that apply to the interim manager
5. Schedule E - Reporting Requirements: Detailed reporting formats, frequencies, and recipients
6. Schedule F - Insurance Requirements: Specific insurance types and coverage levels required
7. Appendix 1 - Power of Attorney: If applicable, specific powers granted to the interim manager
8. Appendix 2 - Handover Protocol: Procedures for initial handover and final transition
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Technology
Healthcare
Retail
Energy
Mining
Professional Services
Transportation
Construction
Real Estate
Telecommunications
Education
Non-Profit
Agriculture
Hospitality
Relevant Teams
Legal
Human Resources
Finance
Operations
Executive Office
Corporate Governance
Compliance
Risk Management
Procurement
Administrative Services
Relevant Roles
Interim CEO
Interim CFO
Interim COO
Interim CTO
Interim Managing Director
Interim Division Head
Interim Project Director
Interim Operations Manager
Interim Finance Director
Interim HR Director
Interim Department Head
Interim Business Unit Leader
Interim Regional Manager
Interim General Manager
Interim Transformation Director
Interim Crisis Manager
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