Management Transition Agreement

May 03, 2024
by a searcher from University of Virginia-Darden - Darden School of Business in Washington, DC, USA
I recognize that management transition terms can vary based on the buyer's experience and other industry-related factors, but I'm seeking some general guidelines for reasonable transition terms to negotiate.
How many hours per week and for how long on-site is typically expected from the previous owner?
Should after-hour support or phone calls after the agreement ends be mentioned?
Are there any must-have provisions I should ensure are included?
from University of Toronto in Toronto, ON, Canada
from University of Michigan in Detroit, MI, USA