Fill and Sign the Free Joint Venture Agreementjointventurejoint Business Venture Form

Joint Venture Agreement Joint Venture Agreement ____________________________________ (Joint Venture) made on the _________________________ (date), between _____________________________ (Name of Player), of ____________________________________________________________ _________________________________________ (street address, city, county, state, zip code), hereinafter called Player, and ______________________________________ (Name of Limited Liability Company), a limited liability company organized and existing under the laws of the state of __________________, with its principal office located at _________________________ ______________________________________________________________________________ (street address, city, county, state, zip code), and hereinafter called LLC. Whereas, Player is a Golf Professional and desires to compete in the ________________ ____________________________ (Name of Tour), hereinafter called Tour; and Whereas, Player needs a sponsor or sponsors to help him pay Tour expenses, such as travel, lodging, and daily living expenses; and Whereas, LLC desires to pay such expenses in order to enable him to compete for prize money in professional golf tournaments and qualify for the PGA Tour in exchange for a share of any money won on the Tour by Player; 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. Nature and Amount of Contributions: The nature and amount of the contributions of each Party to the Joint Venture are as follows: A. Financial Contributions LLC shall contribute the sum of $______________ (e.g., per year, month, week) ________________________. Said sum shall be adjusted as necessary. B. Player Contribution Player shall contribute his time and skill as a golf professional on the professional tours and tournaments to be selected by him, and shall diligently and faithfully pursue the goal of qualifying for the PGA Tour and competing as a professional athlete.
(name, age, and hometown) c. Seller contribution seller shall contribute (name, home address and state), of the sum of [, per month for the period] to be divided among the other named parties as may be in the good faith judgment of seller, pursuant to the foregoing subsection. D. Service-in-kind contributions are limited to the following: (name of party, amount) (date) 2. Amount of payment in cash: the payment in cash must be made on a weekly or monthly basis to seller for purposes of payment of seller's payments of tour expenses (, travel, lodging, meals, and insurance). In the event both parties will not complete the agreed upon amount of payment by the end of the agreed period, the parties agree that the amount of the payment shall be adjusted each week or monthly thereafter until the agreed upon amount is completed. In the event seller is unable to complete the agreed upon amount, seller shall also be entitled to any payment of the remaining amount due to seller by player, as a courtesy. To assist seller in collecting and disbursing such payment, and any amounts due by others to seller, seller shall have the rights and may enforce the rights of each of the parties in the following circumstances: (i) (name of party), of seller , shall provide full and truthful information (including information regarding his tax status) as requested by seller and seller shall have the right to inspect such information (iii) (name of party), of seller , shall provide full and truthful information (including information regarding his tax status) or any other information requested and seller shall have the right, at any time and in any event, to inspect such information, (iv) (name of party), of seller , shall provide full and truthful information (including information regarding his tax status) or any other information requested by seller or seller shall have access to such information upon written request made in writing and payment of a reasonable fee (v) (name of party), of seller , shall provide full and truthful information (including information regarding his tax status) or any other information requested by seller as required by the rules of the tour he is participating in (vi) (name of party), of seller , shall provide full and truthful information (including information regarding his tax status)