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Success Fee Agreement
"I need a Success Fee Agreement for my management consulting firm, where we will receive 2% of cost savings achieved for the client over 12 months starting March 2025, with monthly performance reviews and partial success provisions."
1. Parties: Identification and details of contracting parties
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Services: Description of services to be provided
5. Success Criteria: Clear definition of what constitutes success
6. Fee Structure: Calculation method and payment terms for success fees
7. Payment Terms: Timing and method of payment
8. Term and Termination: Duration and termination provisions
1. Exclusivity: Provisions regarding exclusive service arrangements between the parties
2. Expenses: Treatment of expenses and reimbursements separate from success fees
3. Performance Metrics: Additional performance measurements and evaluation criteria
4. Partial Success: Provisions for partial achievement of success criteria and corresponding fee adjustments
1. Success Criteria Schedule: Detailed description of success metrics and calculations
2. Fee Calculation Schedule: Detailed breakdown of fee calculation methodology
3. Service Description Schedule: Detailed scope of services
4. Timeline Schedule: Key dates and milestones
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