This consulting agreement has come into force on this date dd/mm/yyyy between ABC Inc who will be called ‘the company’ and XYZ, a consultant in the field of XXX, who will be called ‘the consultant’ for purposes of this Consulting Agreement.
1. Purpose of Agreement
The company wishes to employ the consultant as an independent advisor in the field of XXX. The consultant is considered an expert in this field and the company intends to use his advisory services for the effective running of the business. The Consulting Agreement has come into being to formalize the arrangement between the company and the consultant.
2. Definition of Scope of Services
According to the terms of Consulting Agreements, clear definitions have to be provided as to the scope of services expected of consultant.
2.1 Complete details related to scope of services are contained in Exhibit A of the Annexure to this Consulting Agreement.
2.2 The consultant is required to spend XXX hours a week within the premises of the company and provide research and advisory services as outlined in Exhibit A of the Consulting Agreement
2.3 The consultant confirms that he is not under contractual obligations with any other entity that would prevent him from rendering his services in an unbiased and effective manner.
2.4 According to Consulting Agreements, the consultant shall perform his services to the best of his ability and shall not be liable for any delays or defects occurring due to factors out of his control like acts of God or natural calamities.
3. Fees and Payment Obligations
This section of the Consulting Agreement outlines the fees entitled to the consultant in consideration for services rendered:
3.1 The consultant shall receive an amount of $XXX per hour for his services from the company.
3.2 The consultant shall send a monthly invoice to the company containing the number of hours worked and the actions completed for the company to make payment.
3.3 The consultant is entitled to reimbursement of all expenses incurred during the course of performing his services for the company.
3.4 The consultant understands and acknowledges that he is not a full-time employee of the company and is not entitled to any of the benefits associated with such an employment status.
4. Term of the Consulting Agreement
The consulting agreement shall begin from dd/mm/yyyy and continue for a period of 12 months, following which it shall be considered for review.
5. Activity Disallowed in the Consulting Agreement
Consulting Agreements require that clarity be provided as to the restrictions imposed on the consultant during the course of delivering his services.
The consultant is not permitted to share any information relating to the company with any individual, persons, group of persons, other company or entity, unrelated to the company or its affiliates.
As per Consulting Agreements, the consultant shall not in any way induce or entice any employee or consultant currently associated with the company to leave the services of the company and join the consultant’s organization.
6. Termination Clause
According to Consulting Agreements, the following conditions apply in the case of termination of the contract prior to completion of its full term:
6.1 In case the consultant is unable to perform his duties and obligations due to an unexpected turn of events like illness, disability or other unfortunate event, the contract may be terminated immediately.
6.2 In case either party wishes to terminate the Consulting Agreement voluntarily, they may do so after providing the other a notice period of 30 days.
6.3 On termination of the Consulting Agreement, the consultant is required to return all documents and other working materials belonging to the company. The consultant understands that the confidentiality clause contained in section 5.1 of this Consulting Agreement shall apply even after the termination of the contract.
7. Amendments to the Consulting Agreements
The Consulting Agreement may not be amended without the approval of both parties. Any modification in the form of alteration, inclusion, exclusion or deletion of any clause shall be requested in writing and can only be effected with the consent of both the consultant and the company’s representatives.
This Consulting Agreement is a superseding document validating the relationship between the consultant and the company. It shall override any other Consulting Agreements in effect between both these parties.