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Definition of Service agreement
1. Noun. A formal contract of employment, particularly where the employee has high status, like a company director. ¹
2. Noun. A contract between two businesses where one agrees to provide a specified service to the other, such as cleaning or running a staff canteen, or between a landlord and a tenant where the landlord is going to provide services, e.g. heating and lift maintenance, to the tenant. ¹
¹ Source: wiktionary.com