The Operating Management Agreement is a crucial document used in Austrian business practice when an owner wishes to delegate the operation and management of their business, property, or facility to a professional management company or operator. This agreement type is particularly relevant in scenarios where specialized expertise is required for day-to-day operations while the owner retains ultimate ownership and certain strategic controls. The document must comply with Austrian legal requirements, including the ABGB, UGB, and relevant employment laws. It typically includes detailed provisions for operational control, performance standards, financial reporting, staff management, and risk allocation. The agreement is especially important in regulated industries where professional management is either required or highly advantageous for operational efficiency and compliance purposes.
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1. Parties: Identification of the Owner/Principal and the Operator/Manager with their full legal details
2. Background: Context of the agreement, description of the business/property to be managed, and parties' objectives
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation
4. Appointment and Scope: Formal appointment of the operator and detailed scope of management services
5. Term and Commencement: Duration of the agreement and conditions for commencement
6. Operator's Rights and Obligations: Detailed responsibilities, authority limits, and performance standards of the operator
7. Owner's Rights and Obligations: Owner's responsibilities, including provision of resources and information
8. Personnel and Employment: Requirements for staffing, employment policies, and allocation of employment responsibilities
9. Financial Arrangements: Management fees, operating accounts, budgets, and financial reporting requirements
10. Reporting and Performance Standards: Required reports, KPIs, and performance evaluation criteria
11. Insurance and Indemnification: Required insurance coverage and mutual indemnification provisions
12. Termination: Grounds for termination, notice requirements, and termination procedures
13. Post-Termination Obligations: Obligations of parties after termination, including handover requirements
14. Confidentiality: Protection of confidential information and trade secrets
15. Governing Law and Dispute Resolution: Austrian law application and dispute resolution procedures
16. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Intellectual Property Rights: Required when the operation involves significant IP assets or brand usage
2. Environmental Compliance: Necessary for operations with environmental impact or risks
3. Force Majeure: Optional but recommended for long-term agreements to address unforeseen circumstances
4. Data Protection: Required when operation involves significant personal data processing
5. Non-Competition: Optional section for restricting operator's competitive activities
6. Emergency Procedures: Required for operations involving critical services or public safety
7. Change of Control: Optional provisions dealing with changes in ownership or control of either party
1. Schedule 1 - Property/Business Description: Detailed description of the property or business being managed
2. Schedule 2 - Services Specification: Detailed scope of services and performance standards
3. Schedule 3 - Fee Structure: Detailed breakdown of management fees, incentives, and payment terms
4. Schedule 4 - Key Performance Indicators: Specific performance metrics and evaluation criteria
5. Schedule 5 - Required Insurance: Detailed insurance requirements and coverage limits
6. Schedule 6 - Initial Budget: First-year operating budget and financial projections
7. Schedule 7 - Key Personnel: List of key management positions and required qualifications
8. Schedule 8 - Operating Procedures: Standard operating procedures and protocols
9. Appendix A - Forms and Templates: Standard forms for reporting and documentation
10. Appendix B - Emergency Protocols: Emergency response procedures and contact information
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