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The Operating Management Agreement is a crucial document used when a business owner or property owner seeks to delegate operational management to a specialized management company or operator while retaining ownership of the underlying assets. This arrangement is common in New Zealand across various sectors, particularly in hospitality, healthcare, and commercial property management. The agreement comprehensively addresses operational control, performance standards, financial arrangements, and risk allocation, while ensuring compliance with New Zealand's regulatory requirements including the Companies Act 1993, Employment Relations Act 2000, and Health and Safety at Work Act 2015. It is particularly valuable when specialized expertise is required for operation while the owner maintains strategic control and asset ownership.

1. Parties: Identifies and provides full legal details of the parties entering into the agreement - typically the Owner and the Operator

2. Background: Sets out the context of the agreement, including brief description of the business and parties' intentions

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. Appointment and Term: Specifies the operator's appointment, scope of authority, and duration of the agreement including renewal terms

5. Operator's Rights and Obligations: Details the operator's responsibilities, authority limits, and operational scope

6. Owner's Rights and Obligations: Outlines the owner's continuing rights and responsibilities, including provision of resources and information

7. Financial Arrangements: Covers management fees, cost allocations, budgeting requirements, and financial reporting obligations

8. Operating Standards: Establishes required performance standards, KPIs, and quality benchmarks

9. Staff and Employment: Addresses employment responsibilities, staff management, and allocation of employment obligations

10. Intellectual Property: Deals with ownership and usage rights of IP in the business operations

11. Confidentiality: Sets out confidentiality obligations and permitted information usage

12. Insurance and Liability: Specifies required insurance coverage and allocation of risks and liabilities

13. Termination: Details circumstances for termination and the consequences thereof

14. Handover: Establishes processes for transition upon termination

15. General Provisions: Contains standard boilerplate clauses including notices, governing law, dispute resolution