Advisory Services Agreement
Category: 270 Legal Recent Posts, Employment Agreements, Services
ADVISORY SERVICES AGREEMENT
This Advisory Services Agreement (the “Agreement”), dated as of January 1, 2005 by and between MMM Holdings, Inc., a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Advisor”) and MMM Healthcare, Inc., a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Operator”).
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SECTION 1. APPOINTMENT OF ADVISOROperator hereby appoints and engages Advisor as Advisor to the MA Business, and Advisor agrees to act as Advisor to the MA Business to during the term of this Agreement upon the terms and conditions hereinafter stated. In providing services hereunder, Advisor shall exercise reasonable care and shall perform its duties hereunder in accordance with industry best practices and accepted professional standards, and in any event, shall exercise at least the same degree of diligence and skill applied by Advisor in its other business operations. Advisor shall comply with Operator’s policies made known to Advisor by Operator. In the absence of any such policy, Advisor shall exercise its reasonable judgment in performing its services hereunder. Any advice, policy, process or procedure for the MA Business proposed by Advisor, and any subsequent amendments or additions, hereunder shall be subject to Operator’s approval which approval may not be withheld or delayed in Operator’s sole and unfettered discretion. In providing services hereunder, Advisor shall operate in compliance with the requirements of governmental authorities and third party payors.
During the term of this Agreement, Operator shall retain authority over the MA Business as required by law in accordance with the licenses held by the MA Business. Nothing in this Agreement shall require or obligate Advisor to perform any service or to undertake any responsibility with respect to any matter that by law, regulation or requirement of a governmental authority or third party payor is required to be the direct responsibility or obligation of a holder of such licenses.
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