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What is Event Partnership Agreement?
Event Partnership Agreement An Event Partnership Agreement formalizes partnerships for event planning or organization, specifying partnership roles, responsibilities, profit sharing, and event details.
Sample template:
Event Partnership Agreement for HarmonyFest 2023
1. Introduction and Parties
This Event Partnership Agreement (the "Agreement") is entered into as of the Effective Date by and between ______________ ("Party A"), having its principal place of business at ______________, and ______________ ("Party B"), having its principal place of business at ______________. Each party may hereinafter individually be referred to as a "Party" and collectively as the "Parties".
2. Event Details
The following event (the "Event"), HarmonyFest 2023, will be organized and held on the following date, at the following location, and subject to the terms and conditions set forth herein:
Date: ______________
Location: ______________
3. Roles and Responsibilities
3.1. Party A's Roles and Responsibilities
Party A shall be responsible for the following aspects of the Event:
- Securing the venue and all necessary permits
- Coordinating with vendors and suppliers
- Event marketing and promotion
- _______ [Any additional responsibilities]
3.2. Party B's Roles and Responsibilities
Party B shall be responsible for the following aspects of the Event:
- Sourcing and managing entertainment
- Arranging and coordinating with sponsors
- Handling event registration and ticketing
- _______ [Any additional responsibilities]
4. Financial Arrangements and Profit-Sharing
4.1. Event Costs
Unless otherwise agreed in writing, each Party shall bear its own costs and expenses in relation to the performance of its obligations under this Agreement, including all costs related to securing appropriate licenses, contractors, materials, and personnel necessary for the fulfillment of their respective Roles and Responsibilities as set out in Section 3.
4.2. Revenues
All revenues generated from the Event, including ticket sales, merchandise sales, and sponsorship income, shall be collected by Party A and documented in a transparent manner. Party A shall provide Party B with regular updates and verification of all received revenues.
4.3. Profit Sharing
Upon conclusion of the Event and settlement of all Event-related expenses, the net profit shall be distributed between the Parties as follows:
- Party A: ____% of the net profits
- Party B: ____% of the net profits
Profit distribution shall occur within thirty (30) days of the conclusion of the Event, unless otherwise agreed in writing by the Parties.
5. Liability and Indemnification
Each Party shall indemnify, defend, and hold harmless the other Party, its officers, directors, employees, and agents from and against any and all claims, demands, losses, damages, costs, liabilities, and expenses (including reasonable attorneys' fees) arising out of or relating to any breach or alleged breach of such Party's representations, warranties, or obligations set forth in this Agreement. However, neither Party shall be obligated to indemnify the other Party to the extent that any claim, demand, or damage arises out of the negligence or willful misconduct of the other Party.
6. Term and Termination
6.1. Term
This Agreement shall commence on the Effective Date and shall continue in full force and effect until one (1) month following the conclusion of the Event, unless terminated earlier in accordance with the terms of this Agreement. Each Party's liability for any breach of this Agreement that occurred during the term shall survive termination or expiration of this Agreement.
6.2. Termination for Convenience
Either Party may terminate this Agreement without cause by providing thirty (30) days written notice to the other Party. If this Agreement is terminated prior to the Event, the Parties shall agree in writing to an equitable distribution of costs, revenues, and expenses incurred up to the date of termination.
7. Governing Law and Dispute Resolution
This Agreement shall be governed by and construed in accordance with the laws of the United States. In the event of any dispute arising out of or relating to this Agreement, the Parties shall first attempt to resolve the dispute through good faith negotiations. If the Parties are unable to resolve the dispute within thirty (30) days of commencing negotiations, either Party may submit the dispute to binding arbitration under the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
8. Miscellaneous
8.1. Entire Agreement
This Agreement constitutes the entire understanding between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings, whether oral or written.
8.2. Amendment
This Agreement may not be amended or modified except in writing, signed by both Parties hereto.
8.3. Counterparts
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date.
__________________________
Party A
By: _______________
Title: ______________
__________________________
Party B
By: _______________
Title: ______________
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Sections of the Event Partnership Agreement
In this Event Partnership Agreement, you will see the following sections:
- Introduction and Parties
- Event Details
- Roles and Responsibilities
- Financial Arrangements and Profit-Sharing
- Liability and Indemnification
- Term and Termination
- Governing Law and Dispute Resolution
- Miscellaneous
Summary of the sections:
- Introduction and Parties: This section introduces the agreement and the two parties involved, Party A and Party B. It states their respective business addresses and refers to them collectively as the "Parties."
- Event Details: This section provides information about the event, HarmonyFest 2023, including the date and location. It also states that the event will be organized according to the terms and conditions in the agreement.
- Roles and Responsibilities: This section outlines the specific roles and responsibilities of each party in organizing the event. Party A is responsible for securing the venue, coordinating with vendors, and marketing, while Party B handles entertainment, sponsors, and ticketing.
- Financial Arrangements and Profit-Sharing: This section explains how the costs and revenues of the event will be managed. Each party covers its own costs, and Party A collects all revenues. The net profit is then shared between the parties according to an agreed-upon percentage.
- Liability and Indemnification: This section states that each party will protect the other from any claims or damages resulting from their actions under the agreement, except in cases of negligence or willful misconduct.
- Term and Termination: This section outlines the duration of the agreement and the conditions under which it can be terminated. The agreement lasts until one month after the event, but either party can terminate it early with 30 days' notice. If terminated before the event, the parties must agree on how to distribute costs, revenues, and expenses.
- Governing Law and Dispute Resolution: This section states that the agreement is governed by U.S. law and that any disputes will first be addressed through negotiation. If negotiations fail, the dispute can be submitted to binding arbitration under the rules of the American Arbitration Association.
- Miscellaneous: This section includes various additional provisions, such as the agreement being the entire understanding between the parties, the requirement for written amendments, and the ability to execute the agreement in counterparts.
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