Terms of the abritration decision have not been released. The new agreement, which extends until May 1, 2015 following its approval by a vote of the M&P partners. Block had sought to keep the relationship from the beginning. "The Renewal Agreement largely retains the existing restrictive covenants, as interpreted in a recently concluded arbitration proceeding," according to a statement issued by Block.
The two organizations operate under and agreement in which block provides a variety of non-attest services to M&P in return for a management fee. M&P also reimburses Block for the use of RSM-owned or leased real estate, property and equipment.