![]() ![]() The Parties agree to maintain insurance adequate to protect their respective personnel and assets from loss, theft, or damage. The Parties agree that an independent consultant shall be hired to carry out a risk assessment prior to beginning any work related to this collaboration agreement. No additional partners or subcontractors shall be hired or procured without prior written approval from both parties. Any remaining profits or proceeds shall be distributed equally amongst the parties to this collaboration agreement. ![]() ![]() The parties having read and understood the foregoing terms of this Memorandum of Understanding do by their respective signatures dated below hereby agree to the terms thereof. Created by: Sender.FirstName Sender.LastName Sender. This includes the above referenced excess capital contributions from either of the involved parties, as well as any overhead costs associated with the project, such as compensation for managers, consultants, subcontractors, or equipment. through duly authorized representatives, entered into this Memorandum of Understanding. Any shared financial obligations shall be repaid using the proceeds from the collaboration’s efforts.FundingĪll profits, proceeds, and other returns related to this collaboration agreement shall be distributed in the following manner: This includes providing personnel and financial resources to obtain additional personnel for the purpose of achieving the above listed objectives. The Parties shall equally share any staffing responsibilities related to this collaboration agreement. The following individuals have been appointed as chosen primary representatives for their respective employers: Name It is mutually understood that the Parties shall make every effort to ensure that all involved parties are fully aware of any pertinent facts related to the above listed objectives for the duration of this collaboration agreement.Ĭhosen primary representatives shall be responsible for keeping their respective employers abreast of any developments related to this collaboration agreement. Lone navigation can only get you further, but participating in alliances. The Parties shall each nominate a primary representative to act on their behalf in all matters related to this collaboration agreement.Ĭhosen primary representatives shall be vested with the full ability to make decisions on behalf of their respective employers. This is true to personal relationships, group partnerships, and business agreements. ![]()
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