PROFIT SHARING AGREEMENT

PROFIT SHARING AGREEMENT

This Profit Sharing Agreement (the “Agreement”) is entered into as of (DATE) by and
between Fredrick Spencer of DP Therapy of 2003 Bessemer rd. Birmingham Al 3520,
Email: Dptherapycbd@gmail.com and Rodricous Gates of 1119 Silvergate Lane
Mabelton Georgia 30126 Email: gatesmusicgroup@aol.com , both of whom agree to be
bound by this Agreement.
WHEREAS, DP Therapy sells TLC CBD Products and holds ownership of all intellectual
property rights in the Products;
WHEREAS, DP Therapy desires to hire Rodricous Gates to market the Product for sale;
and
WHEREAS, the parties desire to enter into an arrangement whereby the parties will
share the profits realized from the sale of the Product due to the efforts of the
Representative according to the terms and conditions herein.
NOW, THEREFORE, in consideration of the mutual covenants and promises made by
the parties hereto, the Company and the Representative (individually, each a “Party”)
and collectively, the “Parties”) covenant and agree as follows:

  1. TERM. This Agreement shall last from the date of execution until terminated by
    thirty (30) days written notice by either party. This Contract can also be
    terminated when either party fails to fulfill their obligations under this Contract.
  2. RESPONBILITIES OF RODRICIOUS. In Consideration for the profit share
    granted herein, Rodricious shall perform the following duties:
    I. He will be responsible of major promotions weekly on all platforms consisting of 6
    stories and 2 posts weekly.
    II. He will pay 8,000 to buy in partnership with DP Therapy for all TLC products
    III. He will perform other such duties and services as may be assigned by the
    Company to accomplish the aims of this Agreement in the time, place and
    manner deemed appropriate by Rodricious.
  3. PROFIT SHARE. In consideration for the duties performed hereunder,
    Rodricious shall be entitled to 50% of the profits earned from the sale of TLC
    products. Payment will be made once a month.
    I. “Profits” are deemed to be calculated by the sale price less any expenses and
    costs incurred by the Company.
    II. At all times, all calculations will be accounted for using the DP Therapy app and
    the DP Therapy store with barcodes. All records must be stored properly and
    must be available for visual access by all parties.
  4. INDEPENDENT CONTRACTOR. The Parties agree that the Parties shall be
    considered independent contractors and not agents or employees of the other
    party. Neither Party shall have authority to make any statements, representations
    or commitments of any kind, nor to take any action will shall be binding on other
    Party, except as may be expressly provided for herein or authorized in writing.
  5. CONFIDENTIALITY. Rodricious shall not, in any fashion, form, or manner, either
    directly or indirectly:
    I. Disclose or communicate to any party any information relating to the Company’s
    business or the TLC Product including (but not limited to) customer lists, price
    points, or marketing plans (the “Confidential Information”);
    II. Duplicate any confidential information
    III. Use any Confidential Information other than solely for the benefit of the
    Company; or
    IV. Assist a third party in using any Confidential Information in any manner but solely
    for the benefit of the Company.
  6. APPROVAL OF MARKETING MATERIAL. Rodricous shall receive written
    confirmation from the Company in using any marketing materials related to the
    Product that were not directly provided by the Company.
  7. EXPENSES. Rodricous shall not be entitled to reimbursement for any expense
    except those that have been previously approved in writing by the Company.
    Should the Company require travel by Rodricous, the Company shall reimburse
    him for such travel expenses, along with reasonable lodging and meal expenses
    upon presentation of receipts of such expenses.
  8. INDEMNIFICATION. Rodricous agrees to defend, indemnify, and hold harmless
    the Company from and against any and all third party claims (or other actions
    that could lead to losses by the Company) that are based upon his (a) violation of
    the law, (b) violation of this Agreement, or (c) violation of any third party’s rights.
  9. DISPUTES. Any disputes arising from the provisions of this agreement will be
    solved through negotiation by both parties.
  10. NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement
    shall be valid unless in writing and agreed upon by both Parties.
  11. ENTIRE AGREEMENT. This Agreement represents the full understanding of the
    Parties and shall supersede all previous oral or written agreements regarding the
    subject matter herein.
  12. APPLICABLE LAW. This Agreement and the interpretation of its terms shall be
    governed by and construed in accordance with the laws of the State of
    _______, and subject to the exclusive jurisdiction of the federal
    and state courts located in ________.
    IN WITNESS WHEREOF, each of the Parties has executed this Consulting
    Agreement, both Parties by its duly authorized officer, as of the day and year set
    forth below.
    Name: Fredrick Spencer
    Signature:
    Date:

Name: Rodricous Gates
Signature:
Date:

At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )