Legacy Left Contract
This Agreement (the "Contract") is made and entered into on [Date of Form], by and between [Athlete's Full Name (on form)] ("Athlete") of [Athlete Address (on form)] and Legacy Left LLC, an NIL company ("LegacyLeft") of Des Moines IA.
Scope of Representation
Athlete grants Legacy Left the exclusive right to use Athlete's name, image, and likeness ("NIL") to promote both parties' brands. This includes but is not limited to social media promotion, endorsement deals, merchandise, appearances, and other promotional activities.
Compensation
1. Initial Period: Athlete will receive 25% of the net profits from each product sold featuring Athlete's NIL for the first 30 days following the launch date of the custom collection.
2. Subsequent Period: After the initial 30 days, if the athlete earns 15+ sales (excluding orders made by the athlete), the collection will stay up for another 30 days. 3. Termination Payout: Upon termination of the contract, Athlete will be paid out their remaining balance at the end of the month in which the contract is terminated.
Term
The duration of this Contract is continuous, commencing from the launch date of the Athlete's custom collection, unless terminated by either party.
Tax Responsibility
Athletes are responsible for filing their taxes on all commissions received through the payment method.
Exclusivity
This Contract is non-exclusive, allowing Athlete to enter into NIL agreements with other companies concurrently, provided that such agreements do not conflict with Athlete's obligations under this Contract.
Right of First Refusal
If Athlete switches teams or divisions, Athlete must allow Legacy Left the right of first refusal to make an offer before accepting offers from other companies.
Responsibilities of Both Parties
-Athlete agrees to participate in all mutually agreed-upon promotional activities.
-Legacy Left agrees to represent Athlete professionally and promote Athlete's brand in accordance with the terms of this Contract.
Intellectual Property Rights
Athlete retains ownership of all images and materials uploaded for the custom collection and grants Legacy Left a non-exclusive, royalty-free license to use them for the duration of this Contract.
Confidentiality
Both parties agree to maintain the confidentiality of any proprietary or sensitive information shared during the term of the Contract.
Dispute Resolution
Any disputes arising under this Contract shall first be resolved through mediation. If mediation fails, the parties may proceed to in-person arbitration in Iowa. If arbitration fails, the parties may proceed to litigation, which shall be conducted in accordance with the laws of Iowa.
Governing Law
This Contract shall be governed by and construed in accordance with the laws of Iowa.
Indemnification
Each party agrees to indemnify and hold harmless the other party from any claims, damages, or liabilities arising from their respective actions under this Contract.
Force Majeure
Neither party shall be liable for any failure or delay in performance under this Contract due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, labor disputes, or governmental actions.
Temporary Non-Compete
Athlete agrees not to produce, sell, or advertise any merchandise within 14 days before or after the drop date of their custom collection.
Amendments
This Contract may only be amended in writing, signed by both parties.
Entire Agreement
This Contract constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements, whether oral or written.
Compliance with NCAA Rules
Both parties agree to comply with all applicable NCAA rules and regulations concerning NIL activities. Acknowledgment Both parties acknowledge that they have read and understood the terms of this Contract and agree to be bound by them.