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Operating Management Agreement for the United States

Operating Management Agreement Template for United States

An Operating Management Agreement is a legally binding contract under U.S. law that establishes the terms and conditions under which a management company provides operational services to a business or property owner. This agreement outlines the scope of management services, compensation structure, performance metrics, reporting requirements, and the respective rights and obligations of both parties. It typically includes provisions for quality standards, liability allocation, and termination conditions, while ensuring compliance with federal and state regulations.

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What is a Operating Management Agreement?

The Operating Management Agreement serves as a comprehensive framework for outsourcing operational management responsibilities while maintaining quality control and accountability. This document is essential when a business or property owner wishes to delegate day-to-day management to a professional management company while retaining ownership. It addresses key aspects such as service scope, performance standards, fee structures, and risk allocation, all while ensuring compliance with U.S. federal and state regulations. The agreement is particularly crucial for businesses seeking professional management expertise without transferring ownership rights.

What sections should be included in a Operating Management Agreement?

1. Parties: Identification of the contracting parties and their legal status

2. Background: Context and purpose of the management agreement

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of management services to be provided

5. Term and Termination: Duration of agreement and termination conditions

6. Compensation: Fee structure and payment terms

7. Obligations and Responsibilities: Duties of both parties

8. Compliance with Laws: Requirements to comply with applicable federal, state and local laws

9. Governing Law: Specification of jurisdiction and applicable law

What sections are optional to include in a Operating Management Agreement?

1. Performance Metrics: Specific KPIs and performance standards for management services

2. Intellectual Property: IP ownership and usage rights in management operations

3. Force Majeure: Provisions for unforeseeable circumstances affecting performance

4. Data Protection and Privacy: Requirements for handling sensitive information and compliance with privacy laws

5. Environmental Compliance: Specific provisions related to environmental regulations and responsibilities

What schedules should be included in a Operating Management Agreement?

1. Schedule A - Service Level Agreement: Detailed service specifications and performance standards

2. Schedule B - Fee Schedule: Detailed breakdown of fees and payment structure

3. Schedule C - Key Personnel: List of key management team members and their roles

4. Schedule D - Operating Procedures: Detailed operational guidelines and protocols

5. Schedule E - Insurance Requirements: Required insurance coverage and limits

6. Schedule F - Compliance Requirements: Detailed listing of applicable laws and regulations

Authors

Alex Denne

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

Jurisdiction

United States

Cost

Free to use
Clauses


































Industries

Fair Labor Standards Act (FLSA): Federal law establishing standards for employment including minimum wage, overtime pay, recordkeeping, and child labor provisions

Americans with Disabilities Act (ADA): Federal civil rights law prohibiting discrimination against individuals with disabilities in all areas of public life

Equal Employment Opportunity Laws: Federal laws prohibiting workplace discrimination based on race, color, religion, sex, national origin, age, disability, or genetic information

Internal Revenue Code: Federal tax laws governing the financial and tax implications of management agreements and business operations

Occupational Safety and Health Act (OSHA): Federal law ensuring safe and healthful working conditions by setting and enforcing standards

State Labor Laws: State-specific regulations governing employment relationships, wages, benefits, and working conditions

State Business Corporation Acts: State laws governing the formation, operation, and dissolution of corporations and other business entities

State Contract Laws: State-specific regulations governing contract formation, enforcement, and remedies

Industry Licensing Requirements: Specific permits, licenses, and certifications required for operating in particular industries

Corporate Fiduciary Duties: Legal obligations of loyalty and care owed by management to the company and its stakeholders

Uniform Commercial Code: Standardized set of laws governing commercial transactions, including contracts and business dealings

Intellectual Property Laws: Federal and state laws protecting trademarks, copyrights, patents, and trade secrets

Privacy and Data Protection Laws: Regulations governing the collection, storage, and protection of sensitive business and personal information

Environmental Regulations: Federal and state laws governing environmental compliance and protection in business operations

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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