Retainer Agreement
Retainer Agreement
This Retainer Agreement ("Agreement") is made and entered into on this [Date] (the "Effective Date"), by and between [Your Company Name], (the "Service Provider"), and [Client's Name], (the "Client").
1. Scope of Services
1.1 Services Provided
The Service Provider, [Your Company Name], agrees to provide comprehensive and specialized professional services to the Client, [Client's Name]. These services encompass a wide range of expertise including but not limited to consulting, strategic planning, project management, technical support, research, and analysis. The Service Provider will utilize its best efforts, skills, and experience to fulfill the agreed-upon services as outlined in task orders or project scopes mutually agreed upon by both parties.
1.2 Task Orders
Task orders or project scopes will specify the detailed scope of work, deliverables, timelines, milestones, and any other relevant terms specific to each project. These task orders will be attached to this Agreement as appendices and will form an integral part of this Agreement once executed by both parties.
2. Retainer Fee and Payment Terms
2.1 Retainer Fee
In consideration for the services provided by the Service Provider, the Client agrees to pay a retainer fee of [Fee Amount] upon execution of this Agreement. The retainer fee secures the availability of the Service Provider and demonstrates the Client's commitment to engaging the services outlined in this Agreement.
2.2 Payment Schedule
The retainer fee shall be paid in the following installments:
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Monthly Installments: The Client agrees to pay the retainer fee in equal monthly installments, due on the 1st day of each month. The first installment shall be due upon execution of this Agreement, with subsequent installments due on the same day of each month thereafter.
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Quarterly Installments: Alternatively, the Client may opt to pay the retainer fee in equal quarterly installments, due on the 1st day of January, April, July, and October. The first installment shall be due upon execution of this Agreement, with subsequent installments due on the same day of each quarter thereafter.
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Annual Installment: For annual payment, the Client agrees to pay the entire retainer fee upfront upon execution of this Agreement, covering the services for the entire contractual term.
3. Term and Termination
3.1 Commencement and Duration
The agreement outlined in this document is set to become effective starting on the date that is specified as the "Effective Date", as mentioned in the sections above. It will carry on to be active and will remain so until either of the involved parties decides to terminate it, following the conditions and parameters enclosed and detailed within this agreement.
3.2 Termination
Either party may terminate this Agreement by providing written notice to the other party at least 30 days before the intended termination date. Upon termination, the Client shall pay any outstanding fees or expenses incurred up to the termination date.
3.3 Early Termination
In the event of early termination by the Client without cause, the Client shall pay an early termination fee equal to 25% of the remaining retainer fees for the terminated period. This early termination fee compensates the Service Provider for the loss of anticipated revenue and covers any costs incurred in preparation for the services that will no longer be provided due to early termination.
4. Confidentiality
4.1 Non-Disclosure Obligations
Both parties agree to maintain the confidentiality of any proprietary or sensitive information disclosed during the engagement. This includes but is not limited to business plans, financial information, trade secrets, client lists, and other confidential materials.
4.2 Exceptions
Confidentiality obligations shall not apply to information that:
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Is already in the public domain through no fault of the receiving party.
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Is independently developed by the receiving party without the use of confidential information.
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Is required to be disclosed by law or court order, provided that the disclosing party gives prompt notice to the other party to enable them to seek a protective order.
5. Dispute Resolution
5.1 Negotiation
Should any disagreements or disputes emerge or arise under the terms and conditions outlined in this Agreement, it is agreed upon by all parties involved that the initial course of action will be to endeavor to resolve the issue peacefully and amicably. This will involve engaging in negotiations undertaken in good faith, with sincerity and transparency, before considering or moving towards any other forms of dispute resolution.
5.2 Mediation
If the dispute cannot be resolved through negotiations, both parties have agreed that they will then submit the matter to a non-binding mediation. This mediation process will be conducted under the supervision of a mediator, upon whom both parties have mutually agreed.
5.3 Arbitration
If the process of mediation fails to reach a satisfactory conclusion, any disputes that are still outstanding will need to be addressed more formally. This will be done through a process of binding arbitration, following the stipulated rules and regulations set forth by the specified Arbitration Institution. Once the arbitration process concludes, the arbitrator's decision, or award, will be issued.
5.4 Legal Fees
Under the terms of this Agreement, any dispute resolution process that may occur is to be handled financially by each party involved. This means that each respective party, they are responsible for shouldering their legal fees and any costs that might arise in connection to resolving any disputes under this Agreement.
6. Governing Law and Jurisdiction
6.1 Governing Law
This Agreement shall be governed by and construed under the laws of [State/Country], without regard to its conflict of laws principles.
6.2 Jurisdiction
Any legal action or proceeding arising out of or related to this Agreement shall be brought exclusively in the courts of [City/State/Country], and the parties hereby consent to the jurisdiction of such courts for such purposes.
7. Entire Agreement and Amendments
7.1 Entire Agreement
This Agreement, including any attached appendices or task orders, constitutes the entire agreement between the parties concerning the subject matter herein and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.
7.2 Amendments
If there are any amendments or modifications that need to be made to this Agreement, it is important to note that for them to be effectively implemented, practices dictate that these changes must first be carefully documented or committed to writing, in a manner that suitably records their contents in detail.
8. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Retainer Agreement as of the date first above written.
[Your Name]
[Your Company Name]
[Client's Name]
[Client Company Name]
