BUSINESS AGREEMENT

August 31, 2023

BUSINESS AGREEMENT
BETWEEN

MORGANS BEAUTY SUPPLY (PARTY 1)

AND

LIONEL LEONARD DAVIS (PARTY 2)


THIS AGREEMENT is made on the _ day of ___________20,
(hereinafter, “Effective Date”) entered into by Party 1 and Party 2 (Party 1 and Party 2
collectively referred to as the “Parties” or individually as the “Party”) and includes that
Party’s successors and assigns.
In consideration of covenants and agreements contained in this agreement, and other good and
valuable consideration, the receipt of which is hereby acknowledged, Parties agree to the
following terms and conditions and to be bound thereby:

  1. TERM
    This agreement shall be valid from the Effective Date for a period of one year.
  2. CONSIDERATION
    Party 2 desires to store his products “AA’s Products” in Party 1’s store, and Party 1 is
    agreeable to this arrangement subject to monthly payments by Party 2 of 10% of the profits
    generated from Party 2’s products.
  3. INDEMNIFICATION
    Party 2 agrees to indemnify, hold harmless and defend Party 1 and its directors, officers,
    employees, and agents from and against any incidental, consequential, indirect or special
    damages, or for any loss of profits or business interruptions caused or alleged to have been
    caused by the performance or nonperformance of the services.
  4. NON-ASSIGNMENT
    Party 2 shall not transfer or assign this agreement without Party 1’s consent. However, Party 1
    may transfer or assign this agreement or subcontract its obligations hereunder at any time
    without Party 2’s consent.
  5. DISPUTE RESOLUTION
    Parties agree to settle disputes under this Agreement through (select one)
    ☐Negotiation ☐Mediation ☐Arbitration
    ☐Litigation.
  6. TERMINATION
    Either Party may in writing, terminate this Agreement at any time. The termination of this
    agreement shall not discharge the liabilities accumulated by either Party. Any Clauses
    intended by the Parties or this agreement to survive the termination of this agreement shall
    survive the termination of this agreement by whatever cause.
  7. CONFIDENTIALITY
    All non-public, confidential, or proprietary information of a Party (Disclosing Party), whether
    disclosed orally or disclosed or accessed in written, electronic or other form or media, and
    whether or not marked, designated or otherwise identified as “confidential” in connection
    with this Contract is confidential, solely for the use of performing this Contract and may not
    be disclosed or copied unless authorized in advance by the Disclosing Party in writing. Upon

the Disclosing Party’s request, the other Party (Recipient Party) shall promptly return all
documents and other confidential materials received from Disclosing Party. Disclosing Party
shall be entitled to injunctive relief for any violation of this Section. This Section does not
apply to information that is: (a) in the public domain; (b) known to Recipient Party at the time
of disclosure, or (c) rightfully obtained by Recipient Party on a non-confidential basis from a
third party.

  1. FORCE MAJEURE
    For this Agreement, “Force Majeure” means an event which a diligent party could not have
    reasonably avoided in the circumstances, which is beyond the control of a party and includes,
    but is not limited to, war, riots, civil disorder, earthquake, storm, flood or adverse weather
    conditions, strikes, lockouts or other industrial action, terrorist acts, confiscation or any other
    action by government agencies. A Party’s failure to fulfill its obligations due to Force Majeure
    shall not be considered a breach of this Agreement, provided that the Party has taken all
    reasonable precautions, due care, reasonable alternative measures, and minimal delay all to
    carry out the terms of this Agreement.
  2. DRAFTING RESPONSIBILITY
    Neither party shall be held to a higher standard than the other party in the interpretation or
    enforcement of this Contract as a whole or any portion hereof based on drafting
    responsibility.
  3. CHANGES TO THE AGREEMENT
    Either Party may request changes to the agreement, but they will only be effective if agreed in
    writing, and signed by all Parties. If any ambiguity is found in the agreement or various
    documents forming this agreement, the Parties shall issue any necessary clarification or
    instruction.
  4. NO WAIVER
    Except where otherwise provided, failure by Party 1 to enforce any of these terms or
    conditions shall not be a waiver of their right to enforce them. No waiver by Party 1of any
    breach of, or of compliance with, any condition or provision of this Agreement by Party 2
    shall be considered a waiver of any other condition or provision or of the same condition or
    provision at another time.
  5. SEVERABILITY
    The provisions of this agreement are severable. If any provision is held to be invalid or
    unenforceable, it shall not affect the validity or enforceability of any other provision.
  6. COUNTERPARTS
    This agreement may be executed in any number of counterparts, each of which shall be
    deemed to be an original and all of which taken together shall constitute one instrument.
  7. ENTIRE AGREEMENT
    This agreement constitutes the entire agreement between the parties. It supersedes all prior
    oral or written agreements or understandings between the Parties concerning the subject
    matter of this agreement. All documents annexed to this agreement shall be subject to the
    terms under this agreement, provided that the Parties append their signatures on the
    documents. The Parties will exercise utmost good faith in this agreement.
  8. HEADINGS
    The article and section headings in this agreement are for convenience; they form in no part of
    this agreement and shall not affect its interpretation.
  9. PRONOUNS

All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine,
neuter, singular, or plural, as the identity of the person or entity may require. As used in this
agreement: words of the masculine gender shall mean and include corresponding neuter
words or words of the feminine gender, and words in the singular shall mean and include the
plural and vice versa.

  1. NOTICES
    Any notice required to be given between the Parties pursuant to the provisions of this
    Agreement shall be in writing and shall be deemed duly given:
    (i) if delivered by hand and receipted for by the party addressee, on the date of such
    receipt,
    (ii) (ii) if mailed by domestic certified or registered mail with postage prepaid, on the
    third business day after the date postmarked, or
    (iii) sent by email.
    at the following addresses or such changed address as the Party shall have specified by
    written notice, provided that any notice of change of address shall be effective only upon
    actual receipt.
    Any notice delivered by email shall request a receipt thereof confirmed by email or in writing
    by the recipient, and the effective date of such notice shall be the date of receipt, provided
    such receipt has been confirmed by the recipient.
    Morgans Beauty Supply:
    Lionel Leonard Davis:
  2. GOVERNING LAW
    This Agreement shall be governed in all respects by the laws of Arkansas, and its Courts
    without regard to its conflict of law provisions.
    IN WITNESS WHEREOF, each of the Parties has executed this agreement, as of the day
    and year set forth below.
    Signed by the authorized representative of
    PARTY 1
    Signature:
    Name: …………………………………………
    Designation: ……………………………………
    Date: …………………………………………….

Signed by PARTY 2

Signature:
Name: Lionel Leonard Davis
Date:
…………………………………………….

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