Wisconsin Consulting Agreement - with Former Shareholder

• Category: Contracts - Consultants
• State: Multi-State
• Control #: US-00467
• Format: Word; Rich Text

Description

Consultant, a selling shareholder will hold himself available to provide consulting services to the client as may be requested by it, provided the consultant will determine in his reasonable discretion the time and manner of providing such services. The consultant will remain available to provide such services during the term of the agreement and company will continue to compensate him/her whether or not he/she is an employee of the client under a separate arrangement. In the event that it becomes necessary to enforce any of the terms of this agreement the defaulting party agrees to pay all reasonable attorneys fees incurred.

A Wisconsin Consulting Agreement — with Former Shareholder is a legal contract that outlines the terms and conditions under which a former shareholder of a company provides consulting services to the company after their departure. This agreement is relevant when a shareholder's relationship with the company changes, such as when they sell their shares or leave the company for any other reason but still wish to provide their expertise and knowledge as a consultant. The consulting agreement typically begins with an introduction section, which includes the names and addresses of the former shareholder and the company, along with a brief statement of the purpose and intent of the agreement. It also mentions the effective date of the agreement. The agreement then moves on to defining the specific services to be provided by the former shareholder. This section outlines the scope of work, including any limitations or restrictions on the services that the shareholder may render. This could include areas of expertise, consulting hours, and the duration for which the services will be provided. If there are any standard operating procedures or guidelines that the consultant needs to follow, they should also be mentioned in this section. Compensation and payment terms are another essential aspect covered in the agreement. The parties will negotiate and agree upon the consulting fees and the method of payment. This could include an hourly rate, fixed fee, or any other arrangement mutually agreed upon. Additionally, the agreement should state the frequency of payment and any expenses reimbursed by the company. Confidentiality and non-disclosure provisions are essential to protect the company's sensitive and proprietary information. The former shareholder would be required to maintain the confidentiality of any information obtained during the consulting arrangement and agree not to disclose it to any third parties without the company's prior written consent. Intellectual property rights may also be addressed in the agreement, especially if the former shareholder will be developing or contributing to any intellectual property during the consultancy. The agreement should outline who will retain ownership of any intellectual property rights created during the consulting period. Term and termination clauses are included to define the duration of the agreement and the circumstances under which either party may terminate the consulting relationship. This could include provisions for termination for convenience, breach of contract, or other agreed-upon events. It is worth mentioning that there might be different types of Wisconsin Consulting Agreements with Former Shareholders, as the specific terms and conditions can vary based on the individual circumstances and negotiations between the parties. For instance, there could be agreements tailored to short-term consulting projects, long-term advisory roles, or agreements that focus on a specific area of expertise or industry. In conclusion, a Wisconsin Consulting Agreement — with Former Shareholder is a legally binding contract that establishes the terms and conditions under which a former shareholder provides consulting services to a company. The agreement covers aspects such as services to be provided, compensation, confidentiality, intellectual property rights, and termination clauses. The specific terms of the agreement may vary depending on the nature of the consulting engagement and the negotiations between the parties involved.