Compensation TradeContract
Thisabridged Compensation Trade Contract (“Contract”) is entered into by and between [Name oforganization], a [state or country] duly organized and existing under the lawsof [state or country] having its principal place of business at [Address] (“Organization”) and [Nameof individual or entity], a [state or country] individual or entity having offices atthe address [Address] (“Counterparty”).
The Organizationand the Counterparty intend to enter into an agreement whereby the Counterpartywill provide certain services to the Organization, as specified below, in returnfor an agreed upon compensation.
1. ServicesPerformed.
The Counterpartyagrees to provide the following services, as requested and specified by theOrganization (“Services”):
[Provideadetailed description of the nature of services to be provided.]
2. Compensation.
The Organizationagrees to compensate the Counterparty, in the amount and form of payment outlinedbelow, for the Services requested and provided (“Compensation”):
[Outlinethe amount of compensation to be provided, as well as the payment terms andform (such as hourly rate, flat fee, etc.)]
3. Duration.
This Contract,including all Services to be provided, shall commence upon signing of thisContract and remain effective until it has been fulfilled in its entirety orterminated as outlined in Section 5(B).
4. Ownership.
Any and allintellectual property rights (“IPR”) created as a result of Services providedunder this Contract shall become the exclusive property of the Organization,including, but not limited to, software applications and databases, writings,graphics, music, artwork, trademarks, and logos.
5. Termination.
A. Expiry. ThisContract shall expire upon completion of all Services or upon mutual agreementof both Organization and Counterparty.
B. Termination.This Contract may be terminated for cause by either party if the other partymaterially breaches its obligations under this Contract. Any such terminationmust be evidenced in writing and must describe the grounds for the terminationwith specificity.
C. Costs ofTermination. Upon termination, the Counterparty agrees to bear all costsincurred due to such termination, including, but not limited to, cost incurreddue to cancellation of services and/or engagements, work stoppage andmaterials return.
6. Representationsand Warranties.
A. Representationsby the Organization. The Organization represents and warrants that it has fullright and authority to enter into this Contract and has full power and authorityto fully perform its obligations under this Contract.
B. Representationsby the Counterparty. The Counterparty represents and warrants that it has fullright and authority to enter into this Contract and that the Services will becompleted in accordance with the terms of this Contract. The Counterpartyfurther represents and warrants that it has the necessary knowledge and skillsto complete the Services requested by the Organization.
7. DisputeResolution. All disputes arising from or related to this Contract shall first beresolved by mutual consultation between the parties. If a dispute is not resolvedthrough such consultation, the parties agree to have the dispute resolvedthrough litigation in accordance with the laws of [state or country] applicableto this Agreement.
8. Restrictionon Assignment. Neither party shall have the right to assign or otherwise transferthe rights and obligations of this Contract without the express written consentof the other party.
9. Severability.If any portion of this Contract is found to be unenforceable, the remainder ofthe Contract shall remain in full force and effect.
10. Choiceof Law. This Contract shall be construed in accordance with the laws of [stateor country].
11. EntireAgreement. This Contract constitutes the entire agreement between the partieswith respect to the subject matter herein and supersedes all prior andcontemporaneous agreements and understandings, both written and oral;provided, however, that the Organization and the Counterparty may enter intosuccessive renewal agreements with respect to the Services herein. This Contractmay be modified only in writing and signed by both parties.
12. Notices. Anynotice or communication provided for or permitted under this Contract shall bein writing or in electronic form and shall be deemed to have been duly receivedupon delivery or transmission to the address or email address of the receivingparty as stated in this Contract, or to such other address as either party mayspecify by notice hereunder.
In witnesswhereof, the parties hereto have caused this Contract to be executed as of thedate first written above.
[Name oforganization]
[Signature]
[Name]
[Title]
[Name ofindividual or entity]
[Signature]
[Name]
[Title]
