Nursing Home Management Agreement
Nursing Home Management Agreement
This Nursing Home Management Agreement (the "Agreement") is entered into as of [Day/Month/Year] (the "Effective Date"), by and between [Your Company Name], a corporation organized and existing under the laws of [State/Country], with its principal place of business at [Your Company Address] ("Management Company"), and [Client's Name], a legal entity organized and existing under the laws of [State/Country], with its principal place of business at [Client Address] ("Owner").
Recitals
WHEREAS, Owner is the owner of the nursing home facility located at [Facility Address] (the "Facility"), which is engaged in providing long-term care, nursing services, and related healthcare services to its residents;
WHEREAS, Management Company possesses expertise in the management and operation of nursing home facilities and has agreed to provide management services for the Facility under the terms and conditions set forth in this Agreement;
NOW, THEREFORE, in consideration of the mutual promises, covenants, and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Appointment and Services
1.1 Appointment: Owner hereby appoints Management Company to manage and operate the Facility, and Management Company hereby accepts such appointment, subject to the terms and conditions of this Agreement.
1.2 Scope of Services: Management Company shall provide comprehensive management services for the Facility, including but not limited to administrative, financial, operational, and resident care services, in accordance with all applicable laws, regulations, and standards governing nursing home facilities.
2. Term and Termination
2.1 Term: The term of this Agreement shall commence on the Effective Date and shall continue for a period of [Number] years, unless terminated earlier in accordance with the provisions of this Agreement.
2.2 Termination: Either party may terminate this Agreement upon [Number] days' written notice to the other party in the event of a breach of any material term or condition of this Agreement that is not cured within [Number] days after written notice of such breach.
3. Compensation
3.1 Management Fee: Owner agrees to pay Management Company a management fee equal to [Percentage]% of the Facility's gross revenues, payable monthly. The management fee shall be adjusted annually based on the Facility's financial performance.
3.2 Expenses: Management Company shall be reimbursed by Owner for all reasonable and approved out-of-pocket expenses incurred in the performance of its duties under this Agreement.
4. Obligations of Management Company
4.1 Compliance with Laws: Management Company shall ensure that the operation of the Facility complies with all federal, state, and local laws and regulations applicable to nursing home facilities.
4.2 Reporting: Management Company shall provide Owner with monthly financial and operational reports, including but not limited to income statements, balance sheets, and resident care quality metrics.
5. Owner's Representations and Warranties
5.1 Owner represents and warrants that it has the full power and authority to enter into this Agreement and that this Agreement constitutes a valid and binding obligation enforceable in accordance with its terms.
6. Indemnification
6.1 Each party (the "Indemnifying Party") agrees to indemnify, defend, and hold harmless the other party (the "Indemnified Party"), its affiliates, officers, directors, employees, and agents from and against any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of the Indemnifying Party's breach of this Agreement or negligence or willful misconduct.
7. Dispute Resolution
7.1 Arbitration: Any dispute under this Agreement shall be resolved by binding arbitration in accordance with the rules of the American Arbitration Association.
8. Force Majeure
8.1 No Liability for Force Majeure: Neither party shall be liable for any failure to perform due to causes beyond its reasonable control.
9. General Provisions
9.1 Entire Agreement: This Agreement constitutes the entire agreement between the parties concerning its subject matter.
9.2 Amendments: This Agreement may only be amended in writing, signed by both parties.
9.3 Severability: If any provision is found unenforceable, the remainder will remain in full force and effect.
9.4 Notices: Notices must be in writing and delivered to the addresses first above written.
9.5 Governing Law: This Agreement shall be governed by the laws of [State/Country].
9.6 Assignment: Neither party may assign this Agreement without the prior written consent of the other party.
9.7 Renewal Terms: This Agreement may be renewed upon mutual written agreement of the parties, subject to any adjustments in terms and conditions as agreed upon at the time of renewal.
10. Miscellaneous
10.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [State/Country], without giving effect to any choice or conflict of law provision or rule.
10.2 Entire Agreement: This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.
10.3 Amendments: No amendment to this Agreement shall be effective unless it is in writing and signed by both parties.
10.4 Severability: If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement.
10.5 Notices: All notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.
Owner:
[Client's Full Name]
Management Company:
[Your Company Name]
Date:
