Iowa 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.

The Iowa Consulting Agreement — with Former Shareholder is a legally binding document that outlines the terms and conditions of a consulting arrangement between a company and a former shareholder. This agreement is especially relevant when a shareholder is asked to provide consulting services to the company after they have sold their shares or ended their involvement with the company. Key components typically included in the agreement are as follows: 1. Parties Involved: The agreement identifies both the company (referred to as the "Client") and the former shareholder (referred to as the "Consultant") entering into the agreement. 2. Scope of Services: This section defines the specific consulting services the former shareholder will provide to the company. It may include strategic planning, business development, financial analysis, market research, or any other specialized services based on the expertise of the Consultant. The scope of services ensures that both parties have a clear understanding of the Consultant's role and responsibilities. 3. Duration and Termination: The agreement establishes the duration of the consulting engagement, specifying the starting and ending dates. It also outlines termination conditions, such as breaches of contract, changes in circumstances, or withdrawal of either party. 4. Compensation: The compensation section covers the payment details for the Consultant's services. This typically includes the rate or fee to be paid, the payment schedule, and potential reimbursement for any agreed-upon expenses incurred during the consulting engagement. 5. Confidentiality: As confidential information may be shared during the consulting process, this section establishes the obligation on behalf of both parties to maintain the confidentiality of any proprietary, sensitive, or privileged information exchanged. 6. Non-Compete and Non-Solicitation: To protect the interests of the company, the agreement often includes non-compete and non-solicitation provisions. The non-compete provision restricts the Consultant from engaging in any business activities that may compete with or harm the company during and after the consulting engagement. The non-solicitation provision prohibits the Consultant from soliciting the company's clients, employees, or contractors for personal gain. 7. Intellectual Property: If the Consultant creates any intellectual property during the consulting engagement, this section clarifies the ownership rights and potential licensing arrangements. 8. Governing Law and Jurisdiction: The agreement specifies that it will be governed by the laws of the state of Iowa and designates a specific jurisdiction in Iowa for any disputes. It is important to note that there may be different types of Iowa Consulting Agreement — with Former Shareholder based on the specific circumstances and requirements of the parties involved. These may include agreements tailored for short-term consulting engagements, ongoing consulting relationships, or agreements with additional provisions specific to certain industries or areas of expertise.