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The Mastermind Agreement is a service agreement that outlines the terms and conditions between the Coach and the Participant for participating in a type mastermind program. The agreement emphasizes the importance of the obligations and responsibilities of both parties to ensure a successful coaching relationship.
The agreement begins with an interpretation section, defining key terms such as 'agreement', 'services', 'completion date', and 'mastermind program'. The definitions provide clarity and understanding of the terms used throughout the agreement.
The Coach's obligations are outlined in section 2, which includes engaging in best efforts to provide the services, maintaining professional standards, and complying with applicable laws and regulations. The Coach is also required to communicate efficiently with the Participant and provide honest feedback. Any services outside the scope of the agreement require a separate agreement.
Section 3 focuses on the completion of the work, highlighting the importance of timely performance and the potential for an extension of the completion date if necessary.
The agreement also addresses service fees in section 4, specifying the payment terms, invoicing process, and any additional expenses incurred by the Coach. The Coach is responsible for providing accurate records of expenses and obtaining written consent for any expenses exceeding a certain limit.
Liabilities and indemnities are covered in section 5, stating the Coach's obligations to notify the Participant of any delays or problems and to rectify any defects in the services. The Coach is also required to maintain appropriate insurance coverage. The agreement prohibits the use of other participants' information for purposes other than the mastermind program conversation.
Section 6 outlines the term and termination of the agreement, including the right to terminate with notice and the consequences of termination. The Coach must return any materials or confidential information to the Participant upon termination.
Ownership of materials, confidentiality, announcements/publicity, amendment, assignment, severability, further assurance, warranty of capacity and power, force majeure, and no rights under agreements for third parties are addressed in sections 7-16.
The agreement includes provisions for arbitration and proper law in case of disputes, as well as notices and service requirements in section 18. The agreement can be executed in counterparts, and the parties' signatures are required.
Schedule 1 provides details of the mastermind program, including the services offered, the weekly schedule, cancellation policy, and the Coach's responsibilities in facilitating the program.
Overall, the Mastermind Agreement is a comprehensive document that clearly defines the rights, obligations, and expectations of both the Coach and the Participant in participating in the mastermind program.
1. Provide information: Enter the Coach's and Participant's information in the agreement, including their principal place of business. This ensures that both parties are clearly identified.
2. Understand the interpretation: Familiarize yourself with the definitions provided in the agreement, such as 'agreement', 'services', 'completion date', and 'mastermind program'. This will help you understand the terms used throughout the document.
3. Review the Coach's obligations: Take note of the Coach's responsibilities, including providing the services in a professional manner, complying with laws and regulations, and maintaining communication with the Participant. Ensure that the Coach is committed to fulfilling these obligations.
4. Understand completion of the work: Be aware of the importance of timely completion and the potential for an extension of the completion date if necessary. Discuss and agree upon a realistic timeline for the services.
5. Clarify service fees: Discuss and agree upon the service fees, payment terms, and any additional expenses that may be incurred. Ensure that both parties are clear on the invoicing process and the Coach's responsibility to provide accurate records of expenses.
6. Address liabilities and indemnities: Understand the Coach's obligations to notify the Participant of any delays or problems and to rectify any defects in the services. Discuss and agree upon appropriate insurance coverage.
7. Discuss termination: Discuss the termination clause and the rights of both parties in case of termination. Clarify the process for returning materials or confidential information upon termination.
8. Review additional provisions: Familiarize yourself with the provisions regarding ownership of materials, confidentiality, announcements/publicity, amendment, assignment, severability, further assurance, warranty of capacity and power, force majeure, and no rights under agreements for third parties.
9. Understand arbitration and proper law: Discuss the process for resolving disputes and the applicable law in case of any legal issues.
10. Follow the notices and service requirements: Ensure that any notices or communications are delivered in accordance with the specified methods and timelines.
11. Execute the agreement: Sign the agreement and ensure that all parties involved have a copy for their records.
12. Follow the schedule and cancellation policy: Adhere to the agreed-upon schedule for the mastermind program and be aware of the cancellation policy.
13. Engage in the mastermind program: Actively participate in the program, provide honest feedback to the Coach, and fully engage in the program and services provided.
14. Maintain confidentiality: Respect the confidentiality of other participants' information and use it only for the purposes of the mastermind program conversation.
15. Communicate any issues: Promptly notify the Coach of any delays, problems, or complaints that may arise during the program.
16. Comply with payment terms: Ensure that payment is made in accordance with the agreed-upon terms and promptly address any disputes or issues with invoices.
17. Seek legal advice if needed: If you have any concerns or questions about the agreement, consider seeking legal advice to ensure that your rights and interests are protected.