Fill and Sign the Agreement to Train and Race Thoroughbred Racehorses Form

Agreement to Train and Race Thoroughbred Racehorses Agreement made __________________ (date) , between ________________________ (Name of Owner) , of ___________________________________________________________ _________________________ (address of Owner) , hereinafter referred to as Owner , and ______________________________ (Name of Trainer) , of ____________________________ __________________________________________________________ (address of Trainer) , hereinafter referred to Trainer. Whereas, Owner is the legal Owner of _______ (number) certain thoroughbred horses bred for racing and desires to have these horses broken, trained, and raced; and Whereas, Trainer is a thoroughbred racehorse trainer and desires to break, train, and race these horses; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Description and Delivery of Horses Owner agrees to deliver the following horses to Trainer to be broken, trained, and raced in race tracks throughout (e.g., state or nation) _____________________________ ; Name Age Color and Sex Jockey Club Registration No. _____________ __________ _______________ ________________________ _____________ __________ _______________ ________________________ _____________ __________ _______________ ________________________ _____________ __________ _______________ ________________________ 2. Payment for Training A. Owner agrees to pay Trainer $______________ (dollar amount) per month per head of horses broken, trained, and raced, subject to the provisions of Section 6 of this Agreement. B. This monthly charge shall be payable on or before the ______ day of each month the horses are in training, and Trainer acknowledges receipt of $_____________ (dollar amount) representing the first month's payment of such charge. 3. Duties of Trainer A. Trainer shall break, train, and race the horses and feed and care for them, subject to Section 4 of this Agreement, in a manner consistent with accepted horse- training practices in the state of _____________________. B. Trainer , in his sole discretion, shall decide when any of Owner 's horses are sufficiently broken and trained to be entered in a race, and Trainer has sole discretion to decide what type of race any horse may be entered in and how often each horse should be raced. 4. Expenses Owner shall bear the cost of transporting the horses from one track to another or otherwise, veterinary and medical costs, costs of preparation of racing silks, jockey fees, special equipment that Trainer may deem necessary to the proper breaking, training, and racing of any of Owner 's horses, pony boys or girls, hot walkers, and (set forth any other necessary expenses incurred in breaking, training, or racing) , in addition to insurance costs as set forth in Section 9 of this Agreement. 5. Accounting and Billing by Trainer A. Trainer shall pay all expenses referred to in Section 4 of this Agreement, keep an accurate account of such expenses, and bill Owner for such expenses at the end of each month. B. If Owner fails to reimburse Trainer for such expenses when payable, Trainer is authorized to deduct an amount equal to such expenses from Owner 's account from the office of the purser at the race track where Owner 's horses are being trained and raced 6. Other Compensation to Trainer and Jockey A. If any of Owner 's horses win a race, Owner shall cause to be deducted from Owner 's share of the purse money from such race ______% (percentage) , which amount is to be paid to Trainer over and above any other compensation provided for in this Agreement. In addition, Owner shall deduct _______% (percentage) from such purse money and cause such amount to be paid to the jockey riding Owner 's horse in the winning race, in addition to regular jockey fees. B. No deductions from any other money awarded to Owner for any other finishing position of Owner 's horses shall be deducted from such purses and paid as additional compensation to Trainer or any jockey. 7. Horses out of Training If, during the term of this Agreement, any of Owner 's horses are taken out of training after being broken and put into training, Owner shall pay the costs of boarding, feeding, veterinarian services and medicine, and transportation in maintaining any such horse, but shall not pay Trainer compensation for training as set forth above in this Agreement. 8. Duration and Termination of Agreement A. The term of this Agreement shall be for (e.g., one year) _________________, commencing on the effective date stated above, and terminating on ________________ (date) . B. Either party may cancel this Agreement on _______ (number) days' written notice to the other party and a final accounting to such party, and either party may renew this agreement for an additional term equal to the term of this Agreement on written agreement by the other party. 9. Insurance On receipt of the horses described in this Agreement, Trainer shall procure thoroughbred race horse insurance protecting Owner against any losses due to fire, theft, death, or other disability arising from any injuries or accidents to such horses, such insurance to provide coverage in an amount not less than $____________ (dollar amount) . Owner agrees to reimburse Trainer for such insurance costs in the manner set forth in Section 5 of this Agreement. 10. Indemnification Trainer agrees to indemnify Owner from and against any and all liability or claims, demands, damages, and costs for or arising out of the breaking, training, and racing of Owner 's horses, whether it be caused by the negligence of Trainer , his agents or employees, or otherwise. 11. Racing Name A. Owner 's horses shall be raced in the name of ______________________ (name of owner) , Owner , and _____________________ (name of trainer) , as Trainer . B. Trainer shall not enter any of Owner 's horses in any race in which Trainer has another horse in his barn that is to be entered in the same race, without the prior, express, and written consent of Owner . 12. Effect of Termination of Agreement If this Agreement is terminated for any reason prior to the expiration set for this Agreement, Trainer shall immediately deliver any horses under this agreement to Owner . 13. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 14. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 15. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ________________. 16. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 17. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 18. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 19. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 20. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 21. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 22. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. _________________________________________ Printed Name & Signature of Owner _________________________________________ Printed Name & Signature of Trainer