Important Notice
The information provided serves solely as a general illustration related to contractual arrangements for professional retention in the United States. It does not constitute legal counsel and should not replace advice from a qualified attorney experienced in employment, contractual, or legal matters. Regulations and requirements may differ based on jurisdiction, necessitating adjustments for compliance. The user bears sole responsibility for using this example, and we disclaim any liability for errors, omissions, or consequences resulting from its application without proper professional review.
Please note: This is a sample Retention Agreement template for the United States, provided for illustrative purposes only. Actual terms may vary based on specific arrangements and applicable laws.
Retention Agreement (US) Sample
Parties Involved:
Service Provider: XYZ Consulting LLC
Address: 123 Business Road, New York, NY 10001
Client: Acme Corporation
Address: 456 Industry Avenue, New York, NY 10002
Scope of Services:
The Service Provider agrees to provide consulting and advisory services related to business development, strategy, and operational improvement as detailed in attached Schedule A.
Term of Agreement:
This agreement shall commence on ________________________ and shall continue until ________________________, unless terminated earlier in accordance with this agreement.
Retention and Compensation:
The Client agrees to pay the Service Provider a retainer fee of $____________, payable upon execution of this agreement. Additional fees and expenses shall be outlined in Schedule B and payable as specified.
Obligations of the Service Provider:
The Service Provider shall perform the services diligently and in accordance with professional standards. The Service Provider shall provide regular updates and reports to the Client during the term of this agreement.
Confidentiality:
Both parties agree to maintain the confidentiality of all proprietary information exchanged during the term of this agreement, and not to disclose such information to third parties without prior written consent.
Governing Law:
This agreement shall be governed by and construed in accordance with the laws of the State of New York. Any disputes shall be resolved in the courts located within New York County.
Additional Provisions:
- Either party may terminate this agreement with thirty (30) days written notice.
- This agreement may only be amended in writing signed by both parties.
- All payments due shall be made within thirty (30) days of invoice receipt.
New York, ______________________
John Doe (Service Provider)
Jane Smith (Client)