PARTNERSHIP AGREEMENT
This Partnership Agreement (hereinafter referred to as the “Agreement”) is made on
__________________20___ Between Acrydis with its registered offices at CP 3
1092 BELMONT, SWITZERLAND (hereinafter the “Company”) and All Sport King
Enterprises LLC with its registered officed at 142 EAGLE AVE, SWARTZ CREEK,
MI, 48473, USA (hereinafter referred to as the “Partner”). Together referred to as the
“Parties”.
1. Purpose.
The company hereby agrees to form a partnership with the Partner’s representative
Donald Gorbuttto who will be the sole representative of Acydis (the Company’s)
products in North America and the only one allowed to sell Acrydis (the Company’s)
products in North America.
2. Term.
The partnership shall begin on the date signed by the parties below (hereinafter
referred to as the “Effective Date”) and continue indefinitely unless otherwise
terminated or the business ceases to exist.
3. Payment.
The parties agree that in exchange of the services being provided by the partner,
they shall be entitled to _______ from the Company.
4. Banking.
All funds shall be deposited in the name of ______________ or in such checking
accounts or accounts designated by the partners. All withdrawals are to be made
upon checks signed by either partner.
5. Records.
Partner herein agrees to keep an up to date accurate records of the sales made
which shall be shared with the Company upon their request.
6. Decisions.
Parties agree that the sole representative of the partner will need to discuss any
business opening ideas with the representative of the Company before going forth.
7. Non-Disclosure.
Parties herein agree that Confidential information is proprietary information relating
to the Company and its business, including but not limited to business and financial
records, intellectual property, proprietary data, and any other information that is
disclosed, will affect the business of the Company.
The Company and the partner agree that all trade secrets and confidential
information disclosed to the partner during this relationship will be kept strictly
confidential and will further provide means to ensure complete protection to the
Company should a question of unauthorized use or disclosure of such information
arise.
The partner agrees that the Confidential Information is of extreme value to the
Company and would cause irreparable harm to the Company if disclosed to other
persons or utilized by the partner or the partner and its agents for unauthorized
purposes.
Without the prior written consent of the Company, the partner agrees and undertakes
not to; –
i. Disclose any confidential information to any third party;
ii. Make any copies and distribute any document regarded as Confidential
Information;
8. Non-Compete.
For the entire period of this agreement, the partner will not engage in the same
business with an employee, officer, director, partner, consultant, agent, owner, or
any other person in the same capacity with a competing Company. The provision
and terms of this agreement shall only be applicable in the United States of America
area.
Suppose the partner violates any covenant contained in this Agreement. In that
case, the Company shall have the right to equitable relief by injunction or otherwise,
in addition to all other legal rights and remedies.
9. Termination.
The partnership may be dissolved at any time by agreement of the partners, in which
the partners.
The partnership may be terminated in the following events;
i. When one of the partners is found to be stealing from the business
ii. When one of the partners does not pay the rent and utilities on time
The partnership will be dissolved in case of any of the above-mentioned
circumstances.
10. Dispute Resolution.
Any controversy or claim arising out of or relating to this Agreement, or the breach
thereof, shall be settled by arbitration in accordance with the applicable rules and
judgment upon the award rendered may be entered in any court having jurisdiction
thereof.
11. Governing Law.
This Agreement shall be construed, governed, interpreted, and applied according to
the Laws of ________________________.
Parties further agree that any significant legal decisions shall be subjected to a vote
amongst the partners.
12. Waiver.
The waiver by either party of the breach of any covenant or provision in this
Agreement shall not operate or be construed as a waiver of any subsequent breach
by either party.
13. Severability.
In the event a court of competent jurisdiction declares any term or provision of this
Agreement to be invalid or unenforceable for any reason, this Agreement will remain
in full force and effect and either:
a. The invalid or unenforceable provision(s) will be modified to the minimum
extent necessary to make such provision(s) valid and enforceable; or
b. If such a modification is not possible, this Agreement will be interpreted as if
such invalid or unenforceable provision(s) were not a part of this Agreement.
14. Amendment of Agreement.
This agreement cannot be amended without the written consent of all partners.
IN WITNESS WHEREOF, the partners hereunto set their signatures and
acknowledged this Agreement as the date first above written.
Signed by the Representative of Signed by the Representative of All
Acrydis; –
By Steve Grin; –
Signature:
__________________________
Date:
______________________________
Email Address:
_____________________
Sport King Enterprises LLC; –
By Donald Gorbutt; –
Signature:
__________________________
Date:
_______________________________
Email Address:
_____________________
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