Joint Venture Agreement - 5 Agent Pre-paid
Link Sumo LLCThis Joint Venture Agreement (Agreement) is made on August 3, 2021 by and between:Link Sumo LLC, a Company incorporated under the laws of Delaware USA having its registered office at 2093 PHILADELPHIA PIKE #8192, CLAYMONT, DE 19703 known also as Link Sumo;
a Company incorporated under the laws of having its registered office at or an individual as detailed below
hereinafter in this document known also as Partner;
A. The Participants have agreed to join together as a Joint Venture to conduct and operate sales of various items in worldwide by using tele-sales, web lead, referral, subcontracting and or other means, known as “the business”
B. The Participants have agreed to record their respective rights, duties and obligations with and the terms and conditions of this Agreement.
1. JOINT VENTURE:1.1 The Participants hereby form and agree to associate for the purpose of carrying on the Business.1.2. The respective financial interests of the Participants are, subject to this Agreement as set out in the Schedule A.2. MANAGEMENT STRUCTURE OF Joint Venture COMPANY:Board of Management: Les Howard, Gregory John Lopeman and company. 2.1. The board of management of the Joint Venture business shall be formed to undertake the daily conduct of the Business pursuant to this Agreement under the supervision of the Participants.Board Meetings:2.5. The Members will convene a meeting on or about the 1st day of each calendar month (or as otherwise agreed) for the purposes of discussing and implementing strategies and decisions for the running of the Business by electronic or physical means.2.6. There shall be at least twelve (12) Board Meetings held in any financial year.3. VOTING AND DECISION MAKING:3.1. The Board has full powers of management and control of the Business on and subject to the further provisions of this Agreement and the Contract.4. RUNNING THE BUSINESS:4.1. The respective roles of the Participants with respect to the conduct and operation of the Business are set out in Schedule B 6. TERM OF THE JOINT VENTURE:6.1. The Joint Venture shall be deemed to have commenced on the signing hereof and shall continue until terminated pursuant to the provisions of this Agreement.7. THE JOINT VENTURE RELATIONSHIP:7.1 The Participants have entered into this Agreement with the intention that it shall operate between them with fairness and without the detriment to the interest of any of them on the basis of a relationship involving mutual trust, good faith and confidence and on the understanding that subject to this Agreement each one has the rights to participate in the management, control and conduct of the Joint Venture and the right to participate in the profits (if any) of the Joint Venture in proportion to its Interest from time to time.7.2 The participants agree that any business ventures or business relationships and the like that pre exist this agreement shall remain as they are and not be a part of this agreement unless mutually agreed to differ from this position where it will be mutually beneficial.
Schedule A - Financials
The venture pertains to a outbound calling campaign that is wholly outsourced to one or more end buyers. Initial costs for 5 agents wages for a week at actual (real) cost shall be paid in advance by Link Sumo LLC in order to facilitate trust and good standing. This is entirely at the discretion of Link Sumo LLC and shall be renegotiated after the project becomes self sustaining as to its need to continue by Link Sumo LLC.
This pre-payment and or any other reasonable costs (fees, commissions, wages, VoIP, and the like) shall be first allocated for reimbursement and the remaining funds shall be split 60% to Link Sumo LLC, 30% to the partner and 10% into an internal escrow account. Payable transactions shall be determined at the sole discretion of Link Sumo LLC. It shall be determined on a case by case basis as to the logistics of payment procedures to both the Partner and or the individual Agents/Centers. This agreement pertains specifically to an initial group of 5 agents which may be increased on mutual agreement and agreement in document form by a representative of Link Sumo LLC. At all times confidentiality is of utmost importance and all leads provided must be done on an exclusive basis.
Schedule B - Roles1. All parties will at all times operate within the law and not knowingly either intentionally or unintentionally cause by their actions or inactions to causes disrepute to be brought upon the business.
2. All parties will be responsible severally from its share to cover taxation and regulatory requirements.
3. All parties will operate in the best interests of each other and the business as a whole at all times.
4. Link Sumo LLC is in 100% managerial control of the agents during the cash outlay portion of this agreement.
5. Link Sumo LLC reserves the right to terminate this agreement at any time for any reason, giving reasonable notice and reasons digitally or in writing.
6. This agreement shall be valid for a period of 12 months from the agreement date and shall automatically renew if not terminated digitally or in writing with reasonable notice and reasons by either party.
7. Any part of this agreement that may be deemed by law to be invalid or not applicable shall not affect the remainder of the agreement nor impinge upon the intended spirit of the agreement.
8. This agreement is prepared under and shall be adjudicated if necessary, by the The United States of America & All localities worldwide.
9. All individuals or companies hired to work for the Joint Venture must sign an agreement that states that they are operating totally within the law and agreeing that in the event that the Joint Venture does not get paid by the client or is paid a reduced amount by the client that the Joint Venture is not responsible for any shortfall in what is paid to the individual or company. Link Sumo LLC does pledge transparency and accountability to show when and if a payment has not been honored downstream. We strive to build a working relationship with individual Agents & Center alike.
10. Illegal immoral or otherwise offensive behavior or any other actions that may harm the name and standing of Link Sumo LLC will be treated with utmost severity up to and not restricted to termination of this agreement and legal action.
11. This document shall cover any & all Joint Venture projects unless otherwise specified and agreed.
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Signed by Gregory Lopeman
Signed On: December 15, 2020
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Document Name: Joint Venture Agreement - 5 Agent Pre-paid
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