REVENUE SHARING AGREEMENT

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Agreements
March 1, 2024

REVENUE SHARING AGREEMENT

This Revenue Sharing Agreement (the “Agreement”) is made and entered into on [DATE] (the “Effective Date”) by and among:

  1. Party A: Eugene Charles Harris, a resident of XXXX, who owns 35% of the course revenue and all the course material related to “Facebook ads for diabetic test strips.”
  2. Party B: XXXX, a resident of XXXX, who owns 50% of the course revenue.
  3. Party C: XXXX, a resident of XXXX, CA, who owns 15% of the course revenue.

Collectively referred to as the “Parties.”

RECITALS:

WHEREAS, YYYYhas developed an online course called “Facebook ads for diabetic test strips” (hereafter referred to as “the Course”), which teaches business owners in the diabetic flipping business the fundamentals of Facebook ads and how to use those ads to get clients.

WHEREAS, XXXX, have agreed to enter into this Revenue Sharing Agreement (hereafter referred to as “the Agreement”) to govern the ownership, operation, and revenue sharing of the Course.

WHEREAS, XXXX owns 35% of the Course, XXXXowns 50% of the Course, and XXXX owns 15% of the Course.

WHEREAS, XXXXis the sole owner of all intellectual property rights in the Course, including all written materials, videos, and any other materials used in the Course.

WHEREAS, The Parties wish to establish the terms and conditions governing the revenue sharing and management of the Course, and wish to set forth the terms of their agreement in writing to avoid any misunderstandings or disputes that may arise in the future.

WHEREAS, The Parties acknowledge and agree that the terms of this Agreement are binding and enforceable, and that they have read and fully understand the terms of this Agreement before signing.

NOW, THEREFORE, for and in consideration of the premises and the mutual promises, covenants and agreements hereinafter set forth, Company and Independent Contractor agree as follows:

  1. Term of the Contract
    • This Agreement shall remain in effect for ten (10) years from the Effective Date.
  2. Revenue Share
    • The Parties agree to split the revenue from the course “Facebook ads for diabetic test strips” as follows:
      • Party B XXXXshall receive 50% of all course revenue.
      • Party A XXXXshall receive 35% of all course revenue.
      • Party C XXXX shall receive 15% of all course revenue.
  1. Payment Terms
    • Payments shall be made monthly or bi-weekly, provided that payment shall not be delayed for more than two (2) months.
  2. Course Material
    • All course material, including written material and videos related to “Facebook ads for diabetic test strips,” is the intellectual property of Party A XXXX
  3. Dispute Resolution Mechanism
    • In the event of a dispute arising under this Agreement, the Parties agree to use their best efforts to resolve the dispute amicably through good faith negotiations.
    • If the Parties are unable to resolve the dispute after two (2) meetings, the dispute shall be resolved through litigation in the courts of the State of Texas, with the prevailing Party entitled to recover its reasonable attorney’s fees and costs.
  4. Course Selling Rights
    • Party B XXXX has the right to sell the course “Facebook ads for diabetic test strips” over the ten-year term of this Agreement, provided that the payment requirements have been met on a consistent basis.
    • However, Party A XXXXretains ownership of all course material related to “Facebook ads for diabetic test strips” and may terminate this Agreement if Party B is not meeting the payment requirements.
  5. Termination
    • Either Party may terminate this Agreement in the event that the other Party fails to make a payment for a period of two (2) months.
    • In the event of termination, Party A shall have the right to seize all course material related to “Facebook ads for diabetic test strips,” and Party B shall not use such material without Party A’s written approval via email.
  6. Governing Law and Dispute Resolution
    • This Agreement shall be governed by and construed in accordance with the laws of the State of XXXX, without regard to its conflict of laws principles.
    • In the event of a dispute arising out of or relating to this Agreement, the Parties shall attempt to resolve the dispute through good faith negotiations.
    • If the Parties are unable to resolve the dispute through negotiation, the Parties shall proceed to mediation. If mediation is unsuccessful, the Parties shall submit the dispute to arbitration in accordance with the rules of the American Arbitration Association.
    • If arbitration is unsuccessful, the Parties may pursue litigation in the state of Texas.
  7. Entire Agreement
    • This Agreement constitutes the entire understanding of the Parties with respect to the subject matter hereof, and supersedes all prior or contemporaneous understandings or agreements, whether oral or written.
  8. Amendments
    • This Agreement may not be amended or modified except in writing signed by all Parties.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

Party A:XXXX

/s/ ________________________

[date]

 

Party B: XXXX

/s/ ________________________

[date]

 

Party C: XXXX

/s/ ________________________

[date]

 

 

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