VENDING MACHINE PLACEMENT AGREEMENT

VENDING MACHINE PLACEMENT AGREEMENT

THIS AGREEMENT is hereby entered into on this ………………day of …….……………. Two Thousand and ……………………………

                                                       BETWEEN

  1. AnnsVending LLC, with its principal place of business at [Your Address], Jacksonville, FL hereinafter referred to as the (” AnnsVending LLC “)

           AND

  1. Global Outreach Academy, with its campuses located at [The School Address] hereinafter referred to as (“the School”).

RECITALS

WHEREAS, AnnsVending LLC operates a vending machine business and desires to place vending machines at the Grizzly Campus (k-8) and the Cub Campus (k-2) of The School; and

WHEREAS, The School agrees to permit the placement of vending machines on its premises, subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, AnnsVending LLC and The School (collectively referred to as the “Parties”) agree as follows:

  1. TERM OF AGREEMENT:

This agreement shall be effective as of [Effective Date] and shall remain in full force and effect for a period of three (3) years.

  1. VENDING MACHINE PLACEMENT:

4.1 AnnsVending LLC agrees to place and maintain vending machines at the Grizzly Campus and the Cub Campus, subject to the approval of the School administration. The specific locations for machine placement shall be determined by mutual agreement between the Parties.

4.2 The School shall cooperate with AnnsVending LLC to ensure appropriate spaces for vending machine placement are allocated, taking into consideration the safety and convenience of students and staff.

  1. NET PROFIT AND COMPENSATION:

5.1 AnnsVending LLC shall pay The School five percent (5%) of the net profits generated by the vending machines each month.

5.2 Net profits shall be calculated as the revenue generated from sales, minus any applicable taxes, machine maintenance costs, inventory expenses, and other reasonable operating expenses incurred by AnnsVending LLC.

5.3 Payment shall be made to The School within [number of days] days of the end of each month, accompanied by a detailed monthly report outlining the vending machine sales, expenses, and net profits for each location.

  1. REPORTING:

6.1 AnnsVending LLC shall provide The School with a monthly report detailing the revenue, expenses, and net profit generated by the vending machines.

6.2 This report will be delivered no later than the 15th day of the following month and shall include all necessary supporting documentation.

  1. LIABILITY AND MAINTENANCE

7.1 AnnsVending LLC shall be solely responsible for maintaining and servicing the vending machines in good working order.

7.2 AnnsVending LLC shall promptly address any repairs or maintenance required due to normal wear and tear at no cost to The School.

7.3 Any damage caused by students or staff shall be reported to AnnsVending LLC, and repairs or replacement shall be the responsibility of The School.

  1. COMPLIANCE WITH THE SCHOOL POLICIES:

8.1 AnnsVending LLC shall comply with all relevant the School policies and regulations, including but not limited to food and beverage guidelines, health and safety standards, and any restrictions imposed by the School administration.

  1. TERMINATION:

9.1 Either party may terminate this Agreement by providing thirty (30) days’ written notice to the other party, but only after the initial term of three (3) years has expired.

9.2 In the event of termination after the initial term, AnnsVending LLC shall promptly remove the vending machines from the School premises, ensuring any damages caused by removal are repaired at its own expense.

  1. DISPUTE RESOLUTION:

10.1 Any dispute arising out of or relating to this Agreement shall be resolved through mediation administered by the American Arbitration Association in accordance with its Commercial Mediation Procedures. If the dispute cannot be resolved through mediation, the parties agree to submit to the exclusive jurisdiction of the courts located in Florida.

  1. GOVERNING LAW:

11.1 This agreement shall be governed by and construed in accordance with the laws of the state of Florida. Any disputes arising out of or in connection with this agreement shall be subject to the exclusive jurisdiction of the courts in Florida.

  1. ENTIRE AGREEMENT:

12.1 This Agreement constitutes the entire understanding between the Parties and supersedes all prior discussions, understandings, or agreements, whether written or oral.

  1. COUNTERPARTS:

13.1 This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

Signed by or on behalf of:

THE UNDERSIGNED HAVE READ, FULLY UNDERSTOOD AND BY SIGNING

ANNSVENDING LLC                                  SCHOOL

NAME:                                                     NAME:

ANNSVENDING LLC                                  GLOBAL OUTREACH ACADEMY

SIGNATURE:                                            SIGNATURE:

____________________________              _________________________

DATE:                                                     DATE:

____________________________               _________________________

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