Define: Time Commitment

How is Time Commitment defined in a legal contract?

• Time Commitment means the measure of active work an advisor dedicates to a project which influences their duties and remuneration. This involvement can be classified into different timescales of [number] hours per month. When an advisor's involvement surpasses [number] hours per month, they start to undertake a part-time or fractional role which could be a subject of discussion beyond an advisor's responsibilities. Seen in 1 SEC filing
• Time Commitment means a one-day volunteer commitment over a weekend with tasks including: event set-up and cleanup, registration aid, score reporting, field maintenance, and general help. A minimum of [number] volunteers over the weekend is required, with [number] present at any given time. Seen in 1 SEC filing
• Time Commitment means an agreement based on a retainer contract where one party provides their time for assistance and advice to the counterparty. The average provision is estimated at about [number] days per month. If the counterparty does not perceive value for their payment, they can negotiate new terms or terminate and close out the agreement. Seen in 1 SEC filing
• Time Commitment means a retainer-based contract where appropriate time is set aside to provide assistance and advice. On average, the time dedicated can be estimated at about [number] days per month. The agreement allows for renegotiation of terms or termination if either party does not perceive value in the arrangement. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of time commitment' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Time Commitment means the active, scheduled period an individual dedicates to engage in defined tasks within a [organization].

Relevant Contract Types

• Employment Contract
• Consultancy Agreement
• Service Agreement
• Partnership Agreement
• Volunteer Agreement

Relevant Circumstances

• Establishing a new job role
• Offering a consultancy service
• Forming a partnership
• Organising a volunteer event

Relevant Sectors

• Human Resources
• Event Management
• Business Consultancy
• Non-profit

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Genie Definition 2

Time Commitment means a retainer-based agreement where an individual provides predictable, value-based assistance and advice to a [organization].

Relevant Contract Types

• Consultancy Agreement
• Retainer Agreement
• Service Agreement
• Advisory Agreement

Relevant Circumstances

• Engaging an advisor or consultant
• Providing professional service to a client
• Setting the terms of a retainer contract

Relevant Sectors

• Legal
• Business Consultancy
• Finance
• Professional Services

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