THIS AGREEMENT is made on the …………..day of……….20……., (hereinafter “Effective Date”) by the Mentee and the Mentor (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:
Term: This agreement shall be valid from _________________until ____________________.
Services: The Mentor shall provide life coaching services to the Mentee. The Mentor shall hold meetings to discuss their personal life experience as a real estate investor to provide knowledge, support, or one-on-one coaching to help the Mentee learn the real estate industry and improve aspects of their business and provide the structure to help take action and avoid common mistakes.
As part of the Services, there shall be bi-weekly progress checks, weekly strategy and performance review meeting in-person, via video or phone whose date and time will be agreed upon by the Parties. The in-person meetings are max 2X per month. The meeting will be scheduled for 90-minute increments. Notification of new contract must be disclosed within 24 hours of contract signing.
The Mentor shall perform their services professionally, faithfully, diligently, per this agreement, and per acceptable industry standards. The Services shall be rendered in accordance with the law including but not limited to the Investment Advisers Act of 1940.
Payment: For the Services rendered, the Mentee shall compensate the Mentor with $500 per person upfront and 15% equity in profits per deal for the first three deals closed. For additional mentorship after three deals, there shall be a 10% equity in profits per deal for every two deals closed. The payments from closings will be due at time of closing. Payment directly from title company required on Alta statement.
Autonomy: Except as otherwise provided in this Agreement, the Mentor will have full control over working time, methods, and decision-making in relation to the provision of the services per the Agreement. The Mentor will work autonomously and not at the direction of the Mentee. However, the Mentor will be responsive to the reasonable needs and concerns of the Mentee.
Expenses: Unless otherwise stated, the Mentor shall be responsible for all expenses related to providing the Services under this Agreement. This includes but is not limited to supplies, equipment, taxes, Social Security contributions/payments, and other costs.
Relationship of the Parties: The relationship of the parties hereto is that of an independent contractor. The Parties hereto are not deemed agents, partners, or joint venturers of the others for any purpose due to this Agreement or the transactions contemplated thereby. The Mentor and the Mentee understand that it is the Mentor’s sole responsibility for withholding, accruing, and paying all income taxes, withholding taxes, continued service under this Agreement taxes, social security, and other taxes and amounts required by law for the payment made to the independent contractor herein and all payments to their personnel if any.
Non-assignment: The Mentee shall not transfer or assign this agreement without the Mentor’s consent. However, the Mentor may transfer or assign this agreement or subcontract its obligations hereunder at any time without the Mentee’s consent. If the Mentor does so, anyone to whom the Mentor transfers, assigns, or subcontracts any or all of its obligations will have all of the Mentor’s rights with respect to such obligations.
Indemnification: The Mentee agrees to indemnify, hold harmless and defend the Mentor and its directors, officers, employees, and agents from and against any action, claim, demand, or liability, including reasonable attorney’s fees and costs, herein. The Mentee agrees that the Mentor shall have the right to participate in and control the defense of any such claim through counsel of its choosing at the Mentee’s expense. In the event that the Mentor is held liable under this Agreement, their total liability shall not exceed any amounts paid by the Mentee to the Mentor herein.
Confidentiality: All non-public, confidential or proprietary information of the Mentor, disclosed by the Mentor to the Mentee, 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 Agreement is confidential, solely for the use of performing this Agreement and may not be disclosed or copied unless authorized in advance by the Mentor in writing. Upon the Mentor’s request, the Mentee shall promptly return all documents and other confidential materials received from the Mentor. The Mentor 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 the Mentee at the time of disclosure, or (c) rightfully obtained by the Mentee on a non-confidential basis from a third party. In addition, this Agreement is confidential and cannot be divulged to third parties, unless as provided by law, without the written consent of the Mentor.
Further Assurances: The Mentee hereto agrees to perform any further acts and to execute and deliver any further documents that may be reasonably necessary to carry out the provisions of this Agreement.
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.
Either Party may terminate this Agreement, at any time upon giving the other Party no less than ________notice in writing. If a Party wishes to terminate the contract with less than this stated period, the other Party reserves the right to charge costs that they have already paid in advance or incurred.
The Mentor may terminate this Agreement due to but not limited to non-payment from a deal closed by the Mentee, Mentee not getting one investment deal under contract within 2 calendar months or new deals not being disclosed.
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.
Dispute resolution: Parties agree to settle disputes under this Agreement through Mediation or Arbitration
Mentee’s acknowledgments: The Mentee acknowledges that they have been provided with the opportunity to negotiate this agreement and to seek legal counsel before signing this agreement. In addition, the Mentee acknowledges that they have entered into this agreement with the capacity and authority to contract freely and voluntarily and intend to be legally bound herein.
This Agreement may be amended only by the written consent of the Parties hereto.
If any provision is held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other provision.
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. The parties will exercise utmost good faith in this Agreement.
Except where otherwise provided, failure by the Mentor to enforce any of these terms or conditions shall not be a waiver of their right to enforce them. No waiver by the Mentor of any breach of, or of compliance with, any condition or provision of this Agreement by the Mentee shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which constitute the same instrument.
The Article and Section headings in this Agreement are for convenience, and they form in no part of this Agreement and shall not affect its interpretation.
Whenever used herein, the singular number shall include the plural, and the plural number shall include the singular.
Any references herein to the masculine gender or the masculine form of any noun, adjective, or possessive shall be construed to include the feminine or neuter gender and form, and vice versa.
This Agreement shall be governed in all respects by the laws of the state of Maryland and its Courts without regard to its conflict of law provisions.
Any notice required to be given between the Parties pursuant to the provisions of this Agreement shall be in writing and shall be deemed to have been given at the time when actually received as a consequence of any effective method of delivery at the following addresses (including email) 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.
IN WITNESS WHEREOF, each of the Parties has executed this Agreement, as set forth below.
Signed by the MENTEESignature: Name: Designation: Date:
Signed by the MENTORSignature: Name: Date:
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