This revenue sharing agreement template has 6 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our revenue sharing agreement template:
REVENUE SHARING AGREEMENT This Revenue Sharing Agreement (the "Agreement") is effective [DATE], BETWEEN: [NAME OF PARTY A], ("Party A"), an individual with their main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [NAME OF PARTY B], ("Party B"), an individual with their main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] Collectively, Party A and Party B shall be referred to as the "Parties" and individually as "Party." WHEREAS, the Parties wish to collaborate with each other for the fulfillment of certain business relating to [SPECIFY THE BUSINESS] (the "Collaboration"); WHEREAS, the Parties wish to evidence their contract in writing; NOW, THEREFORE, in consideration and as a condition of the Parties entering into this Agreement and other valuable considerations, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows: PURPOSE The purpose of this Agreement is to establish the terms and conditions under which the Parties will collaborate and work together in the [SPECIFY NATURE OF BUSINESS] to achieve their mutual goals. REVENUE SHARING AND PAYMENT During the term of this Agreement, the Parties shall share revenue generated from the Collaboration in the following manner: [SPECIFY THE REVENUE SHARING PERCENTAGE] Party A shall make payments to Party B within [NUMBER OF DAYS] days after the end of each calendar month for the revenue generated during the preceding month. The payment shall be accompanied by a detailed report of revenue generated by the Collaboration activities during the preceding month. TERM The Parties agree that the present Agreement shall be in force from the [DATE] unless terminated by either of the Parties in accordance with the present Agreement. ROLES AND OBLIGATIONS OF PARTY A Party A agrees to perform the following roles and obligations: [INSERT SPECIFIC ROLES AND OBLIGATIONS OF PARTY A] ROLES AND OBLIGATIONS OF PARTY B Party B agrees to perform the following roles and obligations: [INSERT SPECIFIC ROLES AND OBLIGATIONS OF PARTY B] OPERATIONS AND FINANCE The Parties shall conduct their operations in accordance with the Business Plan of the Collaboration attached hereto as Exhibit A of this Agreement. The Parties shall maintain accurate records of their financial transactions and shall prepare financial statements in accordance with generally accepted accounting principles. RELATIONSHIP OF PARTIES Nothing contained in this Agreement shall create an employer and employee relationship, a master and servant relationship, or a principal and agent relationship between the Parties. ASSIGNMENT The Parties shall not assign any rights under the present Agreement to any other Party without the mutual written consent of the Parties. Subject to the foregoing, this Agreement will be binding upon the Parties' heirs, executors, successors and assigns. REPRESENTATION AND WARRANTIES The Parties represent and warrant to each other as follows: They have full power and authority to enter into this Agreement, including all rights necessary to make the foregoing assignments to each other. That in performing under the Agreement, they will not violate the terms of any agreement with any third party. DEFAULTS, REMEDIES AND TERMINATION Events of Default: Each of the following shall constitute an Event of Default under this Agreement: Material Breach: Either Party fails in any material respect to comply with, observe, or perform, or shall default in any material respect in the performance of the terms and conditions of this Agreement. Material Misrepresentation: Any representation made by either Party hereunder shall be false or incorrect in any material respect when made, or is false in any material respect at any point in time. Remedies for Default: Except to the extent more limited rights are provided elsewhere in this Agreement, if an Event of Default occurs as defined above, the non-defaulting Party shall provide the defaulting Party with notice of the Event of Default. Following receipt of a notice of an Event of Default, the defaulting Party shall have [NUMBER OF DAYS] days to cure such Event of Default after receipt of notice thereof from the other Party, provided that if such failure is not capable of being cured within such [NUMBER OF DAYS]-day period with the exercise of reasonable diligence, then such cure period shall be extended for an additional reasonable period of time, not to exceed thirty (30) days, so long as the defaulting Party is exercising reasonable diligence to cure such failure. Termination for Default: Either Party shall have the right to immediately terminate this Agreement for an Event of Default as defined above. If the required notice was given for an Event of Default as defined in section 10
