BUSINESS PARTNERSHIP AGREEMENT.
This Business Partnership Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between Christopher Parris, Contact Info: ____________________ (hereinafter referred to as the “Partner A”), and Joseph Maurceri, Contact Info: ___________, (hereinafter referred to as the “Partner B”), as equal partners for the formation and management of the Energy Force Gym, Contact Info: 94 E Industry Ct. Deer Park, NY 11729 (hereinafter referred to as the “Business”).
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
- The Partner A shall receive 50% on any and all Membership sales they make for the Business.
- The Partner B shall receive 15% on any and all Supplement and/or apparel sale they make for the Business.
- The Parties agree to keep the business/partnership concept confidential and/or that disclosure of any details of the business concept or any other details about the management of the Company or the Company’s business and/or this Agreement will ONLY happen when and how needed, upon written consent of each Parties herein. The Parties agree that they shall do everything necessary in their personal capacity and as a team to always maintain the confidentiality of the business. Each Party shall not use the said information without prior written consent of the other partner except;
- The information is required by law.
- The information is already in the public domain.
- Neither Partner shall, during the term of this Agreement and/or the termination/cancellation thereof, start a business similar to the Business covered under this Agreement.
- DISPUTE RESOLUTION.
In the event of disputes arising about the execution of this Agreement and/or performance of obligations stated herein, the Partners shall solve such issues through a mediation process.
- WAIVER AND ASSIGNMENT.
- The waiver by either Partner of any breach or failure to enforce any of the terms and conditions of this Agreement at any time shall NOT in any way affect, limit, or waive such party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.
- No Party shall assign its rights or obligations under this Agreement without prior Notice or consent by the other Party.
This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- GOVERNING LAW AND JURISDICTION.
- The Agreement shall be governed by and construed in accordance with the laws of _________ [State/Country]. Exclusive jurisdiction and venue shall be in ____________ [State/Country].
- Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
PARTNER A: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
PARTNER B: _____________ ___________________________ ___________
(SIGNATURE) (NAME) (DATE)
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