What should be included in an Interim Management contract?

An Interim Management contract should cover various aspects to ensure that both the Interim Manager and the organisation he/she is working for are protected and clear expectations are set for the work assignment. Here are some important points that should be included in an Interim Management contract:

  1. Tasks and responsibilities: The contract should clearly state what tasks and responsibilities the Interim Manager will take on. This should be described in as much detail as possible to ensure that both parties understand exactly what is expected.
  2. Duration of the contract: The contract should specify the duration of the work order as well as the start and end dates of the contract. It is also important to clarify whether the contract can be extended and under what conditions.
  3. Remuneration: The contract should clearly define the Interim Manager's remuneration, including the hourly rate or lump sum payment, as well as the payment terms.
  4. Confidentiality: The contract should contain a confidentiality clause to ensure that the company's confidential information is protected.
  5. Liability and compensation: The contract should clarify who is liable in the event of damage or loss and how claims for compensation can be asserted.
  6. Termination: The contract should specify the conditions and deadlines for termination, both by the Interim Manager and by the company.
  7. Working conditions: The contract should specify the working conditions of the Interim Manager, such as working hours, place of work and work equipment.
  8. Protection of intellectual property: If the Interim Manager creates intellectual property as part of his work, the contract should clarify who owns the rights to this property.
  9. Non-competition clause: The contract may contain a clause prohibiting the Interim Manager from competing with the company during and after his employment.
  10. Applicable law: The contract should specify which law is applicable in the event of a legal dispute.

An Interim Management contract should be carefully and thoughtfully drafted to ensure that it covers all relevant aspects and protects the interests of both parties.