Business Sale Agreement
George Jacob Rosenbaum
Business being sold:
Treasure Valley Acupuncture LLC
1433 N Cole Road, Boise Idaho 83704
Date of transaction:
George Jacob Rosenbaum will acquire Treasure Valley Acupuncture LLC from Seth Shamon, effective 1/31/22. At this time George Jacob Rosenbaum will take over the lease and space at 1433 N. Cole Road, Boise Idaho 83704 as the primary lease holder with full ownership of the rights to the space provided by the original lease. The acquisition of Treasure Valley Acupuncture includes its equipment, supplies, furniture, patient directory, referral networks, business name, logos, graphics, online presence as well as total ownership and control of the business. Seth is to provide training and mentorship in everything related to clinic operations – selling packages, patient management, clinical techniques, etc… – prior to Jacob acquiring the practice and on an ongoing basis for one year.
George Jacob Rosenbaum is to pay Seth Shamon $20,000 prior to 1/31/2022. George Jacob Rosenbaum will also pay Seth Shamon 10% of the previous months gross combined revenue of Treasure Valley Acupuncture LLC and Boise Acupuncture LLC on the first of each month for one year beginning 3/1/2022 and ending 3/1/2023.
George Jacob Rosenbaum will take over as the primary lease holder for the duration of the lease beginning on 1/31/2022, while Seth Shamon will remain on the lease as a guarantor.
Prior to 1/31/22, Seth Shamon will pay Jacob Rosenbaum 50% of the remaining value of preexisting unfulfilled treatment packages of Treasure Valley Acupuncture patients.
In order to hep maintain and ensure the good faith required for this transaction George Jacob Rosenbaum is to make the patient calendars and income metrics of Treasure Valley Acupuncture LLC and Boise Acupuncture LLC available to Seth Shamon at any point upon request between 1/31/2022 and 3/1/2023 while Seth Shamon is to make the complete history of the patient calendar and income metrics of Treasure Valley Acupuncture LLC to George Jacob Rosenbaum at any point upon request between 1/31/2022 and 3/1/2023.
Buyer’s Printed Name:___________________________________
*By signing this the seller (Seth Shamon) indicates he/she has received payment from the buyer (George Jacob Rosenbaum)*
Seller’s Printed Name:____________________________________
Witness’ Printed Name:____________________________________
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