Management Contract With Example In Suffolk

• Category: Landlord Tenant - Property Management
• State: Multi-State
• County: Suffolk
• Control #: US-00059
• Format: Word; Rich Text

Description

The Management Agreement and Option to Purchase is a legal document designed for parties involved in managing a business, particularly within Suffolk. This contract outlines the roles, responsibilities, and compensation of a General Manager while providing stipulations for the management of the business's day-to-day operations. Key features include defined terms of the agreement, clear duties of the General Manager, and procedures for compensation based on the net income of the business after operating expenses. Notably, it contains a provision for repairs, a termination clause, and an option for the General Manager to purchase the business assets under specified conditions. Users must fill in relevant details, such as names, dates, and financial figures, and may edit sections based on the unique aspects of their agreement. The contract serves various use cases, making it valuable for attorneys and legal professionals who draft and review business agreements, as well as for partners and owners involved in the management or investment of the business. Legal assistants and paralegals may also utilize this form to support client relationships and documentation processes.