GOLDEN PEAR (GP) FUNDING BROKER COMMISSION AGREEMENT
WHEREAS, GP is in the business if investing in claims and lawsuits by purchasing the right to receive a portion of the proceeds recovered from settlements and judgments, and WHEREAS, the BROKER is in the business of arranging investments in claims and lawsuits by soliciting requests for investments from claimants and plaintiffs and submitting such requests to investors. NOW, THEREFORE, for valuable consideration, the receipt, adequacy, and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. GP shall pay commission of 15% for the first $2,000.00 of a total funding amount and 10% for any amount over $2,000.00 for that same funding to the BROKER for all funding clients or companies introduced to GP by the BROKER. GP will add a “Brokers Fee” or “Origination Fee” to the clients funding document. So for a $2,000.00 funding the BROKER will receive $300.00 and the client will receive $2,000.00 and will be charged $2,300.00. For a $5,000.00 funding, the BROKER will receive $600 [$2,000 x 15% = $300 + $3,000 x 10% = $300 ($300 + $300 = $600)] and the client will be charged $5,600.00.
2. GP will pay the commission within 5 business days of funding the client.
3. GP will agree to reduce this fee with the BROKER’s verbal approval.
4. In the event of any legal action to enforce this agreement, said action shall be venued in the State of New York, and the prevailing party shall be entitled to recover its actual legal fees and expenses incurred in such action from the unsuccessful party.
5. This agreement shall be deemed to have been negotiated and drafted by both parties of equal bargaining position; its provisions shall be interpreted in accordance with the plain meaning of the words used and shall not be construed strictly in favor of, or against, any party.
6. The BROKER understands and agrees that GP shall be entirely free to accept or reject any litigation-funding proposal that the BROKER produces.
7. The BROKER is an independent contractor, not an employee of GP. GP will not withhold any taxes and the BROKER will not be entitled to any benefits, such as unemployment insurance, medical insurance, pension plans, or other such benefits.
8. The BROKER understands and agrees that it will not have an exclusive marketing territory.
9. The BROKER is in the business of generating leads and/or conducting proprietary marketing programs for various types of financial products. It is understood and agreed that if the BROKER has made a contact with a claimant and/or plaintiff through its marketing efforts and introduces them to GP, then, the BROKER shall be entitled to receive compensation (commission) on any investments made by GP for that claimant and/or plaintiff.
10. Either party can terminate this agreement by 30 days written notice to the other party. However, the BROKER shall still be entitled to receive compensation to which it is entitled pursuant to the compensation arrangement made above between GP and the BROKER.
IN WITNESS WHEREOF, the parties have executed the Agreement as of Today's Date:
| Golden Pear Funding ("GP") | ||
| Signature of Principal | Date | |
| By: | ||
| Broker Name: | ||
| Company Name: | ||
| Phone Number: | ||
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