A personal services contract is an agreement where an individual or company is hired to perform services that rely primarily on their unique skills or expertise. These contracts often emphasize the relationship between the contracting parties and typically include clauses regarding confidentiality, non-compete, and the specific nature of the work to be performed.
“Significant Personal Services Contract” means a contract where the fees and other compensation received by a person pursuant to personal services contract(s) with Ally Bank and any of its Subsidiaries exceeded or would exceed 5% of such person’s gross revenues during the last calendar year.
ASSIGNMENT. This Agreement is a personal services contract for Mr. Ayers’s Services, and, therefore, you may not assign your rights or transfer or delegate your duties or obligations hereunder without the prior written consent of the Company, which consent the Company is entitled to grant or refuse in its sole discretion. Any assignment in violation of the foregoing shall be deemed null and void. The Company may freely assign its rights and obligations under this Agreement at any time. Subject to the limits on assignment stated above, this Agreement will inure to the benefit of, be binding on, and be enforceable against each of the Parties hereto and their respective successors and assigns.
A person shall be deemed to have “significant personal services contract(s) with the Corporation or its subsidiaries” if the fees and other compensation received by the person pursuant to personal services contract(s) with the Corporation or its subsidiaries exceeded or would exceed five percent (5%) of his gross revenues during the last calendar year.
Assignment. It is agreed that Bank shall have the right to assign this Agreement to any purchaser of the business of or substantially all of the assets of Bank. This is a personal services contract, and may not be assigned by Executive.
This Agreement is in the nature of a personal services contract and the duties assigned to Employee hereunder are non-delegable. Without limiting the generality or effect of the foregoing, the Executive's right to receive payments hereunder will not be assignable, transferable or delegable, whether by pledge, creation of a security interest, or otherwise, other than by a transfer by the Executive's will or by the laws of descent and distribution and, in the event of any attempted assignment or transfer contrary to this Section 8(c), the Company will have no liability to pay any amount so attempted to be assigned, transferred or delegated.
This is not to be construed or interpreted to establish any degree of Government control that is inconsistent with a non-personal services contract.
The Executive's duties shall be in the nature of management duties that demand a special level of loyalty and accordingly the Law of Work Hours and Rest 5711 - 1951 shall not apply to this Agreement. The parties hereto confirm that this is a personal services contract and that the relationship between the parties hereto shall not be subject to any general or special collective employment agreement or any custom or practice of the Company in respect of any of its other employees or contractors.
Although this Agreement is executed solely with Advisor, it is not a personal services contract.
This Agreement is a personal services contract which may not be assigned by Arrow or the Bank to, or assumed from Arrow or the Bank by, any other party without the prior consent of the Executive.
Notwithstanding the foregoing, this Agreement is a personal services contract and, as such, you may not assign any of your duties or obligations hereunder.
The parties hereto confirm that this is a personal services contract and that the relationship between the parties hereto shall not be subject to any general or special collective employment agreement or any industry custom or practice, or practice of Company in respect of any of its other employees or contractors. Employee agrees that the execution and delivery by Employee of this Agreement and the fulfillment of the terms hereof (i) does not conflict with any agreement or undertaking by which Employee is bound; and (ii) does not require the consent of any person or entity.
Except as otherwise provided in an Award Agreement, any Award, or portion thereof, under this Plan, whether or not vested, made to a Grantee who is discharged from the employ of the Company or any of its subsidiaries (or whose personal services contract is terminated in the case of a consultant or independent contractor) for Cause may be automatically terminated, or rescinded and revoked by determination of the Committee.
“Personal Services Contract” means any written contract or agreement pursuant to which a corporation, partnership, limited liability company or other entity is to provide to the Company or a Subsidiary the services of one or more individuals.
“Personal Service Corporation” means a corporation, partnership, limited liability company or other entity that has a Personal Services Contract in effect.
A Personal Services Contract is a formal agreement where one party agrees to provide specific services to another party, often characterized by a close personal relationship between the employer and the employee. In this type of contract, the interpersonal skills and attributes of the service provider are crucial, and the employer has significant control over how, when, and where the services are performed. These contracts are generally part of employment or consultancy agreements and involve tasks that are non-delegable due to the nature of the personal service required.
You should use a Personal Services Contract when the performance of the service relies heavily on the individual characteristics and skills of the service provider. This type of contract is particularly suitable in situations where:
When writing a Personal Services Contract, it is crucial to ensure clarity and precision in each section. Key elements to include are:
Contracts that typically contain personal services components include:
Example: A Consultancy Agreement with a celebrated chef to develop a unique menu for an upscale restaurant chain would exemplify a personal services contract due to the reliance on the individual’s culinary skills and personal brand.
Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A pet policy clause outlines the rules and conditions regarding the presence of pets in a rental property or shared space. It typically specifies the types of pets allowed, any size or breed restrictions, permissible number of pets, required pet deposits or fees, and tenant responsibilities for pet-related damages or nuisances.
A poison pill is a strategy used by a company to discourage hostile takeovers by making its stock less attractive to potential acquirers. It typically involves the issuance of additional shares or rights to existing shareholders, diluting the value and control of the potential acquirer.
The preamble of a contract is an introductory section that outlines the purpose and intent of the agreement, often providing context and background information relevant to the parties involved. It serves to set the stage for the contractual terms that follow, ensuring that all parties have a mutual understanding of the underlying reasons for the contract.
Try our AI contract analysis and extract important clauses and information from existing contracts.
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