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Interim Management Agreement
"I need an Interim Management Agreement for appointing a temporary CFO in our mining company for a 6-month period starting March 2025, with specific focus on financial restructuring and preparing the company for potential IPO."
1. Parties: Identification of the contracting parties - the company and the interim manager (either as an individual or through their management company)
2. Background: Context of the appointment, including the reason for requiring interim management services
3. Definitions: Key terms used throughout the agreement, including specific industry terminology and defined roles
4. Appointment and Term: Specific role being filled, duration of the appointment, and any renewal/extension provisions
5. Scope of Services: Detailed description of the interim manager's responsibilities, deliverables, and authority levels
6. Performance Standards: Expected standards of performance, including specific KPIs and quality requirements
7. Remuneration and Payment Terms: Fee structure, payment schedule, expenses policy, and any performance-based incentives
8. Relationship of Parties: Clarification of the independent contractor relationship and associated implications
9. Duties and Obligations: Specific duties of the interim manager, including reporting requirements and compliance obligations
10. Time Commitment: Expected working hours, availability, and any provisions for additional time requirements
11. Confidentiality: Protection of company information and trade secrets
12. Intellectual Property: Ownership and rights to work product created during the engagement
13. Termination: Grounds for termination, notice periods, and consequences of termination
14. Handover Provisions: Requirements for knowledge transfer and transition at the end of the engagement
15. General Provisions: Standard legal clauses including governing law, notices, and dispute resolution
1. Non-Competition: Restrictions on working with competitors, used when the interim manager will have access to highly sensitive competitive information
2. Performance Bonus: Details of any performance-based incentives, used when specific deliverables or targets are crucial to the role
3. Team and Resources: Details of team members and resources allocated to the interim manager, used in larger organizational roles
4. International Travel: Provisions for international travel and associated requirements, used when the role involves multi-jurisdictional responsibilities
5. Insurance Requirements: Specific insurance coverage requirements, used when the role involves high-risk activities or significant financial responsibilities
6. Board Reporting: Specific board reporting requirements, used when the interim manager will interact directly with the board
7. Succession Planning: Requirements for identifying and/or training a permanent replacement, used when succession planning is a key objective
1. Schedule 1: Scope of Services: Detailed breakdown of services, deliverables, and specific projects to be undertaken
2. Schedule 2: Fee Structure: Detailed breakdown of fees, payment terms, and expense policies
3. Schedule 3: Key Performance Indicators: Specific metrics and targets for measuring performance
4. Schedule 4: Authorized Representatives: List of key contacts and reporting lines within the organization
5. Schedule 5: Company Policies: Key company policies that the interim manager must comply with
6. Appendix A: Required Reports: Templates and requirements for regular reporting
7. Appendix B: Handover Protocol: Detailed procedures for knowledge transfer and exit
8. Appendix C: Compliance Requirements: Specific regulatory and compliance requirements applicable to the role
Authors
Financial Services
Manufacturing
Technology
Healthcare
Retail
Mining
Professional Services
Construction
Energy
Telecommunications
Agriculture
Education
Non-Profit
Transportation
Real Estate
Executive Leadership
Finance
Operations
Human Resources
Information Technology
Legal
Risk Management
Project Management Office
Strategy
Corporate Development
Procurement
Marketing
Research and Development
Quality Assurance
Business Development
Interim CEO
Interim CFO
Interim COO
Interim CTO
Interim HR Director
Interim Project Director
Interim Operations Manager
Interim Finance Director
Interim Marketing Director
Interim Change Manager
Interim Transformation Director
Interim Division Head
Interim Business Unit Manager
Interim Restructuring Officer
Interim Supply Chain Director
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