Create a full contract with all the appropriate headings and provisions that you can prepare based on
Fantastic news! We've Found the answer you've been seeking!
Question:
Use the annotations to explain any ideas for additional substantive terms (outside of the term sheet provisions below) that you might want to put in the contract. The contract must include all eight parts of a typical professionally drafted business contract.
The contract may be eight pages or less and try to cover all substance set out in the parties' term sheet. You may not contradict any point on which the parties have agreed, though you can (and should) add other provisions that are useful but that are not in the parties' term sheet. In preparing the title, preamble, recitals, words of agreement, & definitions as well as the working provisions (covenants, conditions, representations, warranties) must exceed basic expectations.
Also, the endgame provisions, general provisions, and signature blocks must exceed basic expectations. Use the following information to create this full contract. Follow this general term sheet for the deal
The contracting parties are Mr. Marshall Manager and Amertex Healthcare, Inc.
Marshall Manager's title will be "Chief Executive Officer" for the "Tarrant Amertex Regional Hospital" with his employment set to begin on November 1, 2023. The agreement term will last until October 31, 2026.
Manager is currently employed as executive vice president for Valley Hospital Corp. under an Employment Agreement dated November 1, 2019, that purportedly ends on October 31, 2023. Manager has expressed to Amertex that entering into this new contract will not violate his Valley Hospital contract. Amertex has not seen the earlier contract which includes a confidentiality provision and wants to have the legal right to sue Manager if Manager's factual statement about his contract turns out to be false.
Amertex also wants indemnification from Manager if Amertex is held liable to Valley Hospital for "tortious interference" with Valley Hospital's contract with Manager. Manager agreed to that, but doesn't want the indemnity clause to create liability for him in any other situation.
This contract is for a term and does not create an employment-at-will relationship, Amertex wants the right to terminate Manager for "cause." Amertex have not fully fleshed-out what will count as "cause," but it should be the sorts of things that would make a firing reasonable to most people.
Probably need to come up with a list or a definition of some sort in the contract.
If Manager is terminated early, he should get his prorated salary up through the date of termination, plus reimbursement for any expenses that Manager has incurred through the date of termination. Amertex must make these payments to Manager by no later than three business days following termination. Manager will be paid $15,000 per month, payable on the last business day of each month during the time of Manager's employment.
Manager's résumé indicates that he received his Bachelor of Science (B.S.) degree in biology from the University of Texas at Arlington in 2002, a Master of Public Health (M.P.H.) degree from Harvard University in 2014, and is set to finish a Master of Legal Studies (M.L.S.) degree from Texas A&M University's School of Law (with a health care emphasis) in May 2024. (Say, isn't that where you got your Master's degree? Small world!) Amertex has been burned by "résumé fraud" in the past, so we want to be able to sue or terminate Manager if any of his credentials turn out to be fake. Amertex should also be able to get out of the contract is Manager does not receive his M.L.S. by May 30, 2024.
Manager's responsibilities are that he will perform all duties that are customary for a Chief Executive Officer of a major hospital. Among other things, that means he must devote his attention and energies to the hospital on a full-time basis.
Manager wants us to hire Ms. Grace Goodwork to be his Executive Assistant by no later than 30 days after Manager begins his employment. Goodwork is in a similar position right now at Valley Medical. If we don't hire Goodwork by the deadline, Manager has the right not to go forward with Amertex.
Manager also wants the right to not go forward with Amertex if our Development Office is unsuccessful in obtaining the $5 million gift currently pledged by billionaire Phillip Anthropic. Manager wants out if we have not closed on funding the gift by February 28, 2024.
If Amertex terminates Manager's employment "without good cause," then Manager wants Amertex to pay him $50,000 in addition to the prorated salary and expenses described above.
Here are some key contact information for this contract:
Ms. Halley Patel will sign the agreement on behalf of Amertex Healthcare, Inc. d/b/a Tarrant Amertex Regional Hospital, 2691 Keystone Ave, Fort Worth, TX 76104. If it matters, Amertex is a Delaware Corporation with its principal place of business in Dallas, Texas.
Marshall Manager will sign the contract on his own behalf. His address is 1999 Century Rd, Colleyville, TX 76034.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: