If you’re looking to hire a business development manager, it’s important to have a solid agreement in place outlining their role, responsibilities, and compensation. A business development manager agreement template can help ensure that you and your new hire are on the same page from the get-go.
Here are some key elements to include in your business development manager agreement:
1. Job Description
Start by laying out the specific responsibilities of your business development manager. What tasks will they be expected to handle on a day-to-day basis? Will they be responsible for identifying new business opportunities, negotiating deals, or both? By clearly defining their role, you can avoid any confusion or miscommunication down the line.
2. Compensation
Your agreement should also outline how your business development manager will be compensated. Will they receive a salary, commission, or a combination of both? Be sure to include any performance-based incentives, such as bonuses for meeting sales targets or securing new business partnerships.
3. Termination
No one likes to think about what happens if things don’t work out, but it’s important to include a termination clause in your agreement. This should outline the circumstances under which either party can terminate the agreement, as well as any notice requirements and severance pay.
4. Non-Disclosure and Non-Compete
Your business development manager will likely have access to sensitive information about your company and its clients. To protect your business, you should include non-disclosure and non-compete clauses in your agreement. This will prevent them from sharing confidential information or working for a competitor for a certain period of time after leaving your company.
5. Intellectual Property
Finally, be sure to address ownership of any intellectual property created by your business development manager during their time at your company. This could include any new sales strategies, marketing materials, or other assets that they develop as part of their role.
By using a business development manager agreement template as a starting point, you can ensure that you’re covering all the necessary bases when hiring for this important role. Remember to have an experienced lawyer review your agreement before finalizing to ensure that it is legally sound and meets the unique needs of your business.
