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Success Fee Consulting Agreement

Success Fee Consulting Agreement Template for Ireland

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Key Requirements PROMPT example:

Success Fee Consulting Agreement

"I need a Success Fee Consulting Agreement for a technology transformation project where our consultant will be paid 3% of demonstrable cost savings achieved by March 2025, with an additional 2% bonus if implementation is completed ahead of schedule."

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Document background
The Success Fee Consulting Agreement is utilized when engaging consultants or advisory firms on a performance-contingent basis under Irish law. This document is particularly relevant when organizations seek specialized expertise for projects with clearly definable outcomes, such as business transformation, M&A transactions, or performance improvement initiatives. The agreement carefully balances the interests of both parties by linking compensation to specific success metrics while maintaining compliance with Irish regulatory requirements. It includes detailed provisions for service scope, success criteria, payment terms, confidentiality, and data protection under GDPR. This type of agreement is increasingly popular in Ireland's business environment as it aligns consultant compensation with client objectives and provides a clear framework for performance-based professional relationships.
Suggested Sections

1. Parties: Identifies and defines the consultant and client with full legal names and addresses

2. Background: Outlines the context of the agreement, the client's needs, and consultant's expertise

3. Definitions: Defines key terms used throughout the agreement, including 'Services', 'Success Criteria', and 'Success Fee'

4. Scope of Services: Details the specific consulting services to be provided and any exclusions

5. Success Criteria and Fee Structure: Clearly defines what constitutes 'success' and how/when the success fee will be calculated and paid

6. Payment Terms: Specifies payment timing, methods, and handling of expenses

7. Term and Termination: Sets out the duration of the agreement and circumstances for termination

8. Obligations of the Consultant: Lists the consultant's duties, standards of service, and compliance requirements

9. Obligations of the Client: Specifies client's responsibilities, including provision of information and cooperation

10. Confidentiality: Protects confidential information shared during the engagement

11. Intellectual Property: Addresses ownership and usage rights of work products and pre-existing IP

12. Independent Contractor Status: Clearly establishes the consultant's status as an independent contractor

13. Limitation of Liability: Sets boundaries on the consultant's liability and includes any indemnification provisions

14. Governing Law and Jurisdiction: Specifies Irish law as governing law and sets jurisdiction for disputes

15. General Provisions: Includes standard boilerplate clauses like entire agreement, severability, and notices

Optional Sections

1. Non-Compete: Restricts consultant from working with competitors - only included if specifically required and reasonable in scope

2. Force Majeure: Addresses unforeseen circumstances preventing performance - particularly relevant post-COVID

3. Data Protection: Detailed GDPR compliance provisions - required if personal data processing is involved

4. Insurance: Specifies required insurance coverage - included for high-value or high-risk engagements

5. Assignment and Subcontracting: Controls ability to transfer rights or delegate duties - included for larger projects

6. Dispute Resolution: Details alternative dispute resolution procedures - included for complex or high-value agreements

7. Key Personnel: Identifies specific individuals required to perform the services - included when particular expertise is crucial

8. Service Levels: Defines specific performance metrics - included for ongoing consulting arrangements

Suggested Schedules

1. Schedule 1 - Scope of Services: Detailed description of consulting services, deliverables, and timelines

2. Schedule 2 - Success Fee Calculation: Detailed methodology for calculating success fees, including examples and formulas

3. Schedule 3 - Key Personnel: List of key consultant personnel and their roles/qualifications

4. Schedule 4 - Client Materials: List of materials, information, and resources to be provided by the client

5. Appendix A - Success Metrics: Specific, measurable criteria that define project success

6. Appendix B - Reporting Requirements: Templates and specifications for progress reports and success documentation

7. Appendix C - Expense Policy: Allowable expenses and reimbursement procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
























































Clauses






































Relevant Industries

Professional Services

Management Consulting

Financial Services

Technology

Healthcare

Real Estate

Manufacturing

Retail

Energy

Telecommunications

Education

Business Services

Start-ups

Private Equity

Venture Capital

Relevant Teams

Legal

Finance

Procurement

Business Development

Operations

Human Resources

Risk Management

Commercial

Strategy

Project Management

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Legal Counsel

General Counsel

Procurement Manager

Business Development Director

Project Manager

Management Consultant

Strategy Consultant

Financial Advisor

Operations Director

Human Resources Director

Contract Manager

Risk Manager

Commercial Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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