Are electronic signatures legally binding?

Yes. Electronic signatures are generally enforceable for commercial contracts under federal and state law when parties demonstrate intent, consent, attribution, and retention. Use the ESIGN Act and the applicable state e-signature statute to confirm enforceability in your scenario.

When is notarization or a witness required?

Notarization or witness requirements depend on the document type and state law. Real estate conveyances and certain powers of attorney often need notarization and may require witnesses; check the jurisdictional rule that applies to the underlying transaction.

How do I amend an existing agreement?

Amendments should be in writing, reference the original agreement, state the effective date of change, and be signed by authorized representatives of all parties to avoid ambiguity.

What if a party signs under the wrong entity name?

A mismatch between the signer's legal name and the named party can raise enforceability and tax-reporting issues; correct and re-execute the agreement or document an authorized signature showing capacity.

How long should I keep executed agreements?

Retention depends on federal and industry rules plus statute-of-limitations concerns. Keep executed agreements for the full term plus an appropriate post-termination period, and follow sector-specific retention for tax and healthcare records.

How can I revoke or terminate the agreement?

Follow termination procedures set out in the agreement, including notice and cure periods. For unilateral revocations, consult the termination clause and applicable law to avoid breach claims.

Electronic Signature
Templates
HR
Basic Management Agreement

Basic Management Agreement

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BASIC MANAGEMENT AGREEMENT

Parties and Effective Date

This Basic Management Agreement ("Agreement") is made and entered into as of by and between Company Name: with principal business address: ("Company"), and Manager Name: residing at: .

Recitals

WHEREAS, Company desires to employ Manager in a managerial capacity and Manager desires to accept employment on the terms and conditions set forth herein; and

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

1. Position, Duties and Reporting

1.1 Position Title: . Manager shall serve as a manager and shall perform duties customarily associated with such position and such additional duties as reasonably assigned by Company's Board of Directors or designated executive.

1.2 Department: . 1.3 Reporting Manager: .

2. Term and Place of Work

2.1 Term. The employment hereunder shall commence on Start Date: and shall continue until terminated in accordance with Section 7.

2.2 Work Location. Primary work location: . Manager may be required to travel as reasonably necessary to perform duties.

3. Compensation and Benefits

3.1 Base Salary. Company shall pay Manager an annual base salary of $ payable in accordance with Company's regular payroll practices.

3.2 Bonus Eligibility. Manager shall be eligible to participate in Company's discretionary bonus program with target bonus percentage: subject to the terms of the applicable plan.

3.3 Benefits. Manager shall be entitled to participate in such benefit programs as are offered to similarly situated managerial employees, subject to plan terms and Company policies.

4. Duties, Performance and Policies

4.1 Duties. Manager shall devote Manager's full business time, attention and best efforts to the performance of Manager's duties. Manager shall comply with all lawful Company policies and reasonable directives.

4.2 Conflicts of Interest. Manager shall promptly disclose any actual or potential conflicts of interest and shall not engage in outside employment or activities that materially interfere with Manager's duties without prior written approval.

5. Confidentiality; Intellectual Property

5.1 Confidential Information. Manager shall not disclose or use for personal benefit any Confidential Information of Company. "Confidential Information" includes business plans, customer lists, pricing, technical data and other non-public information.

5.2 Inventions and Work Product. Manager agrees that all inventions, discoveries, developments, improvements and works of authorship conceived or made during employment that relate to Company's business shall be Company's sole property, and Manager assigns all rights to Company to the fullest extent permitted by law.

6. Restrictive Covenants

6.1 Non-Solicitation. For a period of following termination, Manager shall not directly solicit Company employees or material customers for competitive purposes.

6.2 Non-Competition. To the extent enforceable, Manager agrees not to engage in materially competitive employment within for a period of after termination.

7. Termination

7.1 Termination Without Cause. Company may terminate Manager's employment without Cause upon written notice. For termination without Cause, Manager shall be entitled to accrued salary and benefits and any severance only as expressly provided in a separate written severance agreement.

7.2 Termination for Cause. Company may terminate for Cause for material breach, willful misconduct, fraud, or other defined grounds. Manager shall forfeit any unvested equity and may be subject to other remedies.

8. Representations and Warranties

Manager represents and warrants that Manager's performance of this Agreement will not breach any agreement with a third party, and Manager has full power and authority to enter into this Agreement.

9. Compliance, Notices and Governing Law

9.1 Compliance. Manager shall comply with all applicable laws and Company policies.

9.2 Notices. Notices shall be given to the addresses set forth in this Agreement or as later provided in writing.

9.3 Governing Law. This Agreement shall be governed by the laws of the State of without regard to conflict of law principles.

10. Miscellaneous

10.1 Entire Agreement. This Agreement constitutes the entire agreement between the parties relating to the subject matter hereof and supersedes all prior agreements and understandings.

10.2 Amendment. Any amendment must be in writing and signed by both parties.

10.3 Severability. If any provision is held unenforceable, the remaining provisions shall remain in full force and effect.

Personal Information

Full Legal Name Current Address Phone Number Email Address

Position Information

Job Title Department Reporting Manager Start Date Salary (Annual)

Employment Type Full-time Part-time Exempt Non-exempt

Employment History (Most Recent)

Employer 1 - Company Name Title Dates Employed Key Responsibilities Reason for Leaving

Employment History (Prior)

Employer 2 - Company Name Title Dates Employed Key Responsibilities Reason for Leaving

Education

Highest Degree Institution Graduation Date

References

Reference 1 - Name Reference 2 - Name Reference 3 - Name

Legal Disclosures and Consents

At-Will Employment: Employment is at-will and may be terminated by either party at any time, with or without cause or notice, subject to any express written agreement to the contrary.

Equal Opportunity: Company is an equal opportunity employer and does not discriminate on the basis of protected characteristics in accordance with applicable law.

Authorization for Background Check and Reference Verification

I authorize Company to contact my previous employers and listed references and to conduct background checks as permitted by law. I understand that any offer of employment is conditioned on satisfactory completion of such checks.

I authorize background and reference checks

Applicant Certification

I certify that all information provided in this Agreement and any attached schedules is true, complete and correct to the best of my knowledge. I understand that material misrepresentation or omission may result in withdrawal of any offer or termination of employment.

Applicant Signature Name (Print) Applicant Signature Date

Background and Additional Notes

Additional Comments

Employer (Company) - Print Name:

By:

Date:

Manager - Print Name:

By:

Date:

What a Basic Management Agreement Is and Where it Fits

A Basic Management Agreement is a written contract that sets out the duties, authority, and compensation of a manager or management company retained to operate assets, projects, or ongoing business functions on behalf of an owner. Typical matters addressed include the scope of services, reporting obligations, term and termination conditions, compensation structure, indemnities, and confidentiality. The document creates contractual rights and responsibilities between the parties and can be tailored for real estate management, business operations, or program administration. It is commonly used to allocate decision-making authority and clarify performance expectations.

Why a Clear Management Agreement Matters

A well-drafted Basic Management Agreement reduces ambiguity about roles, prevents disputes over compensation and scope, and provides a contractual basis for enforcement when performance falls short. It supports compliance with regulatory and tax reporting obligations and makes handoffs or audits smoother by documenting responsibilities and records retention expectations.

Common users and roles that complete this agreement

Parties who typically prepare or sign a Basic Management Agreement include property owners, asset managers, corporate executives, in-house legal teams, and third-party management firms.

Property owners and landlords who retain a manager to run leases and maintenance operations for residential or commercial real estate.
Small business owners who delegate day-to-day operations to a manager or management company.
Professional management firms that act on behalf of multiple principals and need standardized terms across clients.

Understanding who completes and who signs ensures the agreement contains appropriate authority clauses, signature blocks, and corporate authorization where necessary.

Core sections to include in a professional Basic Management Agreement

Organize the agreement into clear provisions so obligations, limits, and remedies are simple to find and enforce.

Parties & Roles

Identify each party by legal name and capacity; describe the manager's duties and the owner's oversight role in full, unambiguous terms.

Scope of Services

List specific management tasks, exclusions, deliverables, milestones, and frequency of routine duties so expectations and billing triggers are clear.

Term & Termination

State the agreement start date, renewal mechanics, notice periods, and grounds for termination including cure rights and post-termination obligations.

Compensation

Specify management fees, expense reimbursement rules, payment timing, and adjustments or performance-based earn-outs where applicable.

Reporting & Records

Define required reports, frequency, record retention responsibilities, audit access, and preferred delivery formats for financial and operational reporting.

Risk Allocation

Include indemnities, insurance requirements, limits on liability, and any warranty disclaimers to clarify each party's exposure and expectations.

Step-by-step: preparing, executing, and distributing the agreement

Follow these sequential steps to complete the agreement with minimal friction and clear records for compliance and auditing.

01

Drafting: Assemble scope, fees, term, and key exhibits before circulation.
02

Review: Have legal and finance review for compliance and tax implications.
03

Execution: Collect all required signatures and dates in original or e-signed form.
04

Distribution: Send fully executed copies to all parties and archive per retention rules.

Typical online workflow settings for completing this agreement

Configure these settings to streamline signing, authentication, and post-signing delivery for all parties.

Field	Configuration
Authentication Method	Email link, SMS code, or KBA for higher assurance
Signature Order	Sequential or parallel signer routing
Required Fields	Force-fill name, date, and signature fields
Audit Trail	Enable full event history with timestamps

Digital signing and technical requirements

Use a secure eSignature platform that supports audit trails, encryption, and the authentication level your transaction requires.

File Formats: PDF and DOCX supported
Integrations: Salesforce, NetSuite, Google Workspace
Security Controls: TLS, AES encryption

Ensure the chosen provider offers the integrations and compliance features your recordkeeping and regulatory obligations require, then configure authentication and retention settings accordingly.

Where to send, file, or submit an executed agreement

Clarify routing so each stakeholder receives the signed agreement and a secure copy is retained for audits and compliance.

To the Manager: Deliver an executed copy to the management team for onboarding.
To the Owner: Send the owner an original or certified electronic copy.
Internal Records: Archive in document management and financial systems.
Third Parties: Provide copies to lenders, insurers, or auditors if required.

Key dates and typical timeframes to include

Document several date-driven obligations so parties know when actions are due and when termination or renewal windows start.

Effective Date:

The date the agreement becomes operative; use MM/DD/YYYY.

Initial Term:

Length of the initial engagement period, e.g., 12 months.

Renewal Notice:

Deadline to provide notice to renew or terminate, commonly 30–90 days.

Payment Due Dates:

Specify invoice terms and late-payment interest schedule.

Reporting Deadlines:

Monthly/quarterly reporting and financial statement delivery dates.

Security and compliance controls to consider

Encryption In Transit: TLS 1.2/1.3 required

Encryption At Rest: AES-256 storage encryption

Certifications: SOC 2 Type II, ISO 27001

Audit Trail: Immutable timestamped logs

HIPAA BAA: Available when handling PHI

Access Controls: Role-based permissions and MFA

Short risks and penalties to watch for

Ambiguous Scope: Can lead to disputes and litigation

Missing Signatures: Agreement may be unenforceable

Tax Reporting: Incorrect forms may trigger IRS penalties

Late Payments: Contractual interest or fee consequences

Data Breach: Regulatory fines and reputational harm

Improper Authorization: Corporate approvals absent may void acts

Common mistakes to avoid when preparing this agreement

Using informal or trade names instead of exact legal entity names, which can cause enforceability and tax reporting problems.
Failing to specify the manager's exact duties and deliverables, leaving room for differing interpretations and performance disputes.
Omitting termination notice periods or cure rights, which can create sudden operational gaps or unexpected liabilities.
Not attaching required exhibits, schedules, or fee tables; missing exhibits often undermine the contract's operational clarity.

Real-world examples of how organizations use a Basic Management Agreement

Two brief examples show typical outcomes when an agreement is applied appropriately in practice.

Optica Ventures LLC

Optica standardized management terms across its portfolio to reduce negotiation time.

The change centralized reporting.
Standardization allowed faster onboarding, clearer fee reconciliation, and consistent vendor management across properties, improving operational visibility without revising each contract individually.

Martin Properties

A small real estate operator used a management agreement to formalize responsibilities with an external manager.

Execution was done online with audit logs.
The electronic workflow provided a complete record for owner approvals and enabled timely rent collection and vendor payments while preserving compliance with recordkeeping practices.

Representative eSignature vendor comparison for management agreements

Compare basic pricing and feature highlights across common eSignature vendors; signNow is shown first for reference.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	Varies
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Varies by plan	Varies by plan	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Frequently asked questions about executing and managing this agreement

Answers to common operational and legal questions when preparing, signing, and storing a Basic Management Agreement.

Need help? Contact support

Are electronic signatures legally binding?
Yes. Electronic signatures are generally enforceable for commercial contracts under federal and state law when parties demonstrate intent, consent, attribution, and retention. Use the ESIGN Act and the applicable state e-signature statute to confirm enforceability in your scenario.
When is notarization or a witness required?
Notarization or witness requirements depend on the document type and state law. Real estate conveyances and certain powers of attorney often need notarization and may require witnesses; check the jurisdictional rule that applies to the underlying transaction.
How do I amend an existing agreement?
Amendments should be in writing, reference the original agreement, state the effective date of change, and be signed by authorized representatives of all parties to avoid ambiguity.
What if a party signs under the wrong entity name?
A mismatch between the signer's legal name and the named party can raise enforceability and tax-reporting issues; correct and re-execute the agreement or document an authorized signature showing capacity.
How long should I keep executed agreements?
Retention depends on federal and industry rules plus statute-of-limitations concerns. Keep executed agreements for the full term plus an appropriate post-termination period, and follow sector-specific retention for tax and healthcare records.
How can I revoke or terminate the agreement?
Follow termination procedures set out in the agreement, including notice and cure periods. For unilateral revocations, consult the termination clause and applicable law to avoid breach claims.

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