The Nitty Gritty
It is agreed between Internet Golf Association, Inc., a Nevada
corporation, dba XXXXxxxx.xxx and Bulldog Xxxxxxxx, Inc., that
Bulldog Xxxxxxxx, Inc. (hereinafter referred to as the Agency) shall
serve XXXXxxxx.xxx (hereinafter referred to as the Client) as a
strategic marketing partner for an initial period of twelve months.
The Agency will provide all of the services listed in the
attached agreement for the costs and terms outlined. If additional
services are required to complete any program, the Agency will
provide a detailed estimate in writing for approval.
The Client/Agency relationship will commence July 1, 1999 for a
stated period of twelve months. Unless terminated by either party
upon 90 days prior written notice, this contract will extend for two
(2) successive 12 periods. Either party can terminate the
relationship on 90 days written notice. This written notice must
follow a review meeting that verbally outlines areas of concern or
dissatisfaction. If the relationship is terminated, the Client will
be obligated for all short-rate charges, all work in progress, and
all authorized costs and charges incurred by the Agency on behalf of
the Client. Both parties will conduct an annual performance on
December 1st to review the results and effectiveness of the
relationship. Note that the aforementioned compensation structure
applies to the projected budget, and will be reviewed by both
parties as budgets and responsibilities change.
In addition to the above monthly fee, Bulldog Xxxxxxxx will
manage all media duties for XXXXxxxx.xxx at a reduced commission
rate (subject to approval by both parties) on the outlined 1999
budget of 3 million dollars.
Bulldog Xxxxxxxx shall also be granted an option to acquire
20,000 "restricted" shares of Internet Golf Association, Inc. common
stock at an exercise price equal to the fair market value, as
determined by the board of directors of the company, on the date of
the grant, 10,000 of such shares shall vest on the first anniversary
of the date of the grant and an additional 10,000 shares shall vest
on the second anniversary of the date of the grant, unless this
contract is terminated by either party prior to each respective
vesting date.
The Client shall be the sole owner of the resulting work
produdct once full payment is received. All buyouts/vendor charges
(output, printing, film, etc.) Will be separately billed to the
Client. Expenses incurred in the normal course of business such as
postage and U.S. long distance telephone charges will be absorbed by
the Agency. All travel expenses including airfare, hotels, meals,
etc., along with any shipping/messenger services expenses incurred
on behalf of the client will be billed at the Agency's net cost.
It is agreed between the Client and the Agency that the Agency
is functioning only as Agent for the Client. Therefore, it is
further agreed that the Client accepts full financial responsibility
and liability for payment of advertising space, broadcast time, and
other items ordered, with the Client's prior approval, under this
authorization. When the Agency received payment from the Client,
the Agency agrees to prompt payment of media and/or vendor(s)
invoices, but only as Agent for the Client.
The Client will hold the Agency harmless and assume full
liability for any claims made on behalf of the Client's products or
services in advertising and collateral materials prepared by the
Agency for the Client.
The Agency shall have the right to hire sub-agents and to sign
media contracts on the Client's behalf, but only with the Client's
prior approval.
Both parties enter into this relationship with full and
complete understanding of the above.
For the Client:
Approved: /s/ Xxxxx Xxxxxxxxxx
Printed Name: Xxxxx Xxxxxxxxxx
Date:
For the Agency:
Approved: /s/ Name Unknown
Printed Name:
Date:
