Should our management agreement name our specific manager?
The workable middle ground is a notice-and-consultation clause. The named manager is identified in the agreement; the company may reassign, but must give the Board written notice a stated number of days before, and must offer a replacement of comparable credentials with an introduction meeting. Some Boards add that an unagreed reassignment inside the first year is grounds for termination without penalty.
That gets you the thing you actually want, which is not the individual — it is not being reassigned to whoever has capacity, on a Friday, with no conversation.
Ask for the company's twelve-month manager turnover figure at the same time. A firm that will name your manager but turns over forty percent of its managers annually has given you a name, not continuity.
General information for Board members, not legal advice. State law and your governing documents control, and both vary.
More on the agreement
- What is an evergreen clause and should we accept one?
- How long should our management agreement run?
- Should the fee schedule be attached to the agreement?
- What is an indemnification clause and should we accept a one-way one?
- Can our management agreement be transferred if the company is sold?
- What is the difference between terminating for cause and without cause?
The RFP template, scope checklist, interview scorecard, notice calendar and transition checklist your Board would otherwise build from scratch. No email address, no signup, nothing sent to you afterwards.