PARTNERSHIP AGREEMENT
This Partnership Agreement (hereinafter “Agreement”) is made on [Effective Date] by and between ASHLEN K. DUKE of address 4433 2300 E SALT LAKE CITY UT 84124 (hereinafter “Artist”) and JAMES E. BULLOCK of address 313 BIRCHWOOD RD ALDAN PA, 19018 (hereinafter “Advertiser/Investor”).
The Artist and the Advertiser shall be jointly referred to as “Parties” and individually as a “Party” to this Agreement.
Whereas, the Artist and the Advertiser/Investor agree to partner with each other as partners according to the terms and conditions of this agreement;
Whereas, the Advertiser is also an investor in this venture.
Now therefore, in consideration of the premises, and of the mutual promises and undertakings herein contained, the parties intending to be legally bound do agree as follows:
DETAILS OF THE PARTNERSHIP
Name and Address
The partnership herein between the Artist and the Advertiser shall bear the name
COMMIX MISHMASH.
THE AGREEMENT
The Artist and the Advertiser agree to partner with each other in selling NFTs on Opensea.io. (Kindly provide full name for NFT)
The Artist shall be responsible for the Art work while the Advertiser shall be responsible for advertising the end products and will pay for all advertising expenses during the life of the Contract with a minimum of at least 10% of the listed price of each set of cards.
For the purposes of this agreement, the Parties shall be equal and entitled to a 50/50 split on all profits and losses of the business herein.
One year after the last release of the Jokers (Around October 15, 2022) the partnership for “An unstable deck of cards” shall come to an end. Both parties will continue to receive any sales or royalties. The parties upon mutual agreement may produce other collections with like terms to extend this agreement. If agreed, the extension will last one year after the final Crypto art is released.
The Artist will produce a set of 4 crypto cards in numerical order every month on the first from the 3’s up to the Jokers starting September 1st 2021.
There shall be no joint survivorship in this agreement.
The parties reserve the right to select their own beneficiaries.
PAYMENT TERMS
All payments from sales and royalties will be split 50/50.
The payments shall be made not more than 10 days from day deposits are made on Opensea.
CONFIDENTIALITY
Neither Party will use, copy, adapt, alter or part with possession of any information of the other which is disclosed or otherwise comes into its possession under or in relation to this Agreement and which is of a confidential nature. This obligation will not apply to information which the recipient can prove was in its possession at the date it was received or obtained or which the recipient obtains from some other person with good legal title to it or which is in or comes into the public domain otherwise than through the default or negligence of the recipient or which is independently developed by or for the recipient.
INTELLECTUAL PROPERTY
All intellectual property rightfully belonging to the other shall be respected by both parties.
All Intellectual property not sold on Opensea or posted shall be the property of the Artist.
TERM AND TERMINATION
This Agreement shall be operative from the date of execution of this Agreement and shall run until the Agreement is terminated according to the terms of this agreement.
Both parties reserve the right to terminate this Contract. In the event of termination, the Party intending to terminate this agreement shall inform the other Party in writing of their intention to terminate the Contract. Parties shall give at least 30 days’ notice to the other communicating intention to terminate the Contract.
Unless otherwise mutually agreed to in writing, upon the termination of this Agreement, any arrangement tied to this agreement then in effect will immediately terminate. Violation of the parties’ obligations may immediately terminate this agreement if the party in breach does not cure such breach as soon as practically possible.
In the event where a dispute arises and the parties fail to amicably resolve the dispute, this agreement may be terminated as a result.
Any other termination by one party before the end of the agreement (except for valid incapacitation) will forfeit any future earnings after 30 days from the termination date.
ENTIRETY
This contract represents the entire agreement between the two parties and supersedes any previous written or oral agreement. This agreement may be modified at any time, provided there is written consent of both parties to this contract.
SEVERABILITY
The parties agree that if any portion of this contract is found to be void or unenforceable, it shall be struck from the record and the remaining provisions will retain their full force and effect.
JURISDICTION AND DISPUTE RESOLUTION
This contract shall be governed, interpreted, and construed in accordance with the laws of Pennsylvania.
Any dispute arising out of or in connection with this Contract shall be settled amicably by the parties in good faith by whatever means they deem appropriate. If the parties fail to reach an amicable solution, the parties shall submit their dispute to mediation. Both parties shall reach a consensus on one neutral party as the mediator. In the event the mediation fails, the parties shall submit their dispute to a court of competent jurisdiction.
In Witness Whereof, this Agreement is duly executed by the duly authorized representatives of the parties as set forth below:
For Investor
Name: _________________________________________________
Signature: _______________________________________
Date: _________________________________________________
For Artist
Name: __________________________________________
Signature: __________________________________________
Date: ____________________________________________________
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