A memorandum agreement is put in place to ensure there is unambiguous understanding of the deal at hand. It clearly lays out the compensation outline, the role that each player will play and how the entire deal will be run. Having it in writing is better to avoid future misunderstandings.
Sample Memorandum Agreement Template
MEMORANDUM OF AGREEMENT
BETWEEN
SPONSOR
AND
OXFORD UNIVERSITY
SPONSOR and Oxford University (OU) agree to enter into this Agreement to ________________________________________________________ (PURPOSE)
The period of performance of this Agreement shall be________ (DATE) through_________ (DATE).
SPONSOR agrees to:
1. Reimburse OU up to $_______ for above-referenced project;
2. to _________________________
3. to _________________________
OU agrees to:
1. Invoice SPONSOR no more than monthly for project activities;
2. Carry out the project activities as referenced above;
Both institutions agree to the following:
________________________________________________________________
OXFORD UNIVERSITY SPONSOR
AU Principal Investigator NAME:
DATE: _____________ TITLE: ____________________________
DATE: ____________________________
John Doe
Associate Provost & VP for Research
DATE: _______________________
Download Memorandum Agreement Template in Word Format