This document provides a template Heads of Terms agreement as guidance for drafting the terms for a long-term agreement to enter into a Landscape Recovery project with Defra and other private sources of funding, should a blended finance approach be adopted. It has been informed by a combination of desk research, workshops and interviews with land managers and other stakeholders, and the expert knowledge of Strutt & Parker. It is based on a hypothetical Natural Flood Management scenario and is intended to meet the needs of agriculturally productive land managers in a lowland, multi-party context.