Business Product Life Cycle Template

Business Product Life Cycle Template

Parties

Provider Name:

Provider Address:

Client Name:

Client Address:

Recitals

WHEREAS, Provider develops, manages and delivers product development services and methodologies relating to product life cycle management for commercial products; and

WHEREAS, Client desires to engage Provider to apply a structured product life cycle process for the product identified as , and Provider is willing to provide such services on the terms set forth in this Agreement.

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

Scope of Work

Product Life Cycle Phases

Phase 1 — Concept

Responsible Party:   Start:   End:

Phase 2 — Feasibility

Responsible Party:   Start:   End:

Phase 3 — Development

Phase 4 — Testing

Phase 5 — Launch

Phase 6 — Post-Launch

Change Control

Payment Terms

Total Fee:

Late Fee:   Invoice Due (days):

Payment Remedy: Failure to timely pay any undisputed invoice after the invoice due date shall permit Provider to suspend work upon five (5) business days' prior written notice; Client remains responsible for all costs incurred. Provider may charge the Late Fee specified above on overdue amounts until paid in full.

Term and Termination

Agreement Start Date:   Agreement End Date:

Termination Notice Period (days):

Termination for Cause: Either party may terminate this Agreement immediately upon written notice if the other party materially breaches any material obligation hereunder and fails to cure such breach within thirty (30) days after receipt of written notice specifying the breach.

Confidentiality

Definition: "Confidential Information" means non-public information disclosed by either party that is marked confidential or that a reasonable person would understand to be confidential given its nature and the circumstances of disclosure. Confidential Information includes business plans, product designs, roadmaps, prototypes, technical specifications, and customer data.

Confidentiality Term (years):

Warranties and Liability

Provider warrants that services will be performed in a professional and workmanlike manner consistent with industry standards. EXCEPT FOR THE EXPRESS WARRANTY SET FORTH HEREIN, PROVIDER MAKES NO OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

Limitation of Liability: IN NO EVENT SHALL EITHER PARTY'S AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCEED THE AMOUNTS PAID OR PAYABLE TO PROVIDER UNDER THIS AGREEMENT DURING THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO LIABILITY. NEITHER PARTY SHALL BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of without regard to conflicts of law principles.

Entire Agreement

This Agreement, including any appendices and schedules executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, representations and understandings, whether written or oral. No amendment shall be effective except in a writing signed by both parties.

Miscellaneous Provisions

Approvals and Sign-off Procedures

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