PARTNERSHIP PROPOSAL WITH OVW WRESTLER MICHAEL WALDEN
The Company Kentucky Branded, LLC desires to contract with Michael Walden regarding Company’s sales of certain NIL merchandise on a mutually beneficial basis upon the terms and conditions contained herein, Company Kentucky Branded, LLC and Michael Walden agree as follows:
1) Basic Terms. Fully negotiable.
a) Company Kentucky Branded, LLC and Michael Walden shall work cooperatively to promote and sell official Michael Walden apparel and other items at ShopOVW.com and mobile events.
b) Company Kentucky Branded, LLC will develop, design, and host each respective website.
c) Company Kentucky Branded, LLC will design each respective Wrestlers merchandise.
d) Company Kentucky Branded, LLC will be responsible for all customer service- related queries. Including, but not limited to general order related questions, and frequently asked questions.
e) Company Kentucky Branded, LLC will be responsible for the end-to-end transaction, from the initial purchase, to producing of the merchandise, packaging, shipping, and delivery.
f) Company Kentucky Branded, LLC will track all sales and report to Michael Walden.
g) Company Kentucky Branded, LLC shall pay Michael Walden 50% of net retail sales (after product costs, shipping costs, labor costs, and taxes) for all sales made through the ShopOVW.com and mobile events but not limited to any other event that can provide a sales platform for the retail sale of OVW merchandise (after set up expenses).
h) Company Kentucky Branded, LLC shall immediately design any product design that is relevant to current events as created by the Kentucky Branded, LLC team or requested by Michael Walden This will immediately be promoted with the intention of driving sales.
i) Company Kentucky Branded, LLC shall make monthly royalty payments to Michael Walden. The payment shall be made by the 10th of each month.
2) Provisions upon approval of this proposal.
a) Exclusivity. There is no exclusivity provision. Michael Walden may work with other vendors.
b) Term of Agreement. This Agreement shall be effective from the date hereof for a period of one (1) year, provided however, each party has the right to cancel with a 30-day notice.
c) Binding Effect. This Agreement shall be binding upon the parties and their respective executors, administrators, successors, and assigns.
d) Entire Agreement Confidential. The terms and provisions hereof are strictly confidential, and neither party shall exhibit this Agreement or mention its terms to any person other than its attorneys, unless otherwise ordered by a court of competent jurisdiction or agreed to in writing by the other party.
e) Governing Law. This Agreement shall be construed in accordance with and governed by the laws of Kentucky, without reference to its conflicts of laws rules.
f) Indemnification. Each party shall be solely responsible for its own actions under the Agreement to the full extent permitted by law.