Sales Commission Agreement between BlueFire Equipment, Inc. and AB Technologies, Ltd.
Contract Categories:
Business Operations
›
Sales Agreements
Summary
BlueFire Equipment, Inc. and AB Technologies, Ltd. have entered into a two-year agreement where AB Technologies will identify and introduce potential clients for BlueFire's drill bits and assist with account management. In return, BlueFire will pay AB Technologies a 5% commission on sales to clients introduced by AB Technologies. Both parties agree not to bypass each other regarding introduced clients, and any disputes will be resolved through mandatory arbitration. The agreement replaces a prior fee agreement and is governed by Texas law.
EX-10.5 13 ex10-5.htm ex10-5.htm
Exhibit 10.5
April 26, 2012
Mr. Tyson Rohde
BlueFire Equipment, Inc.
1120 Texas Street, #4A
Houston, Texas 77002
RE: SALES COMMISSION AGREEMENT
Dear Mr. Rohde:
This letter serves as an agreement under which BlueFire Equipment (BFE) and AB Technologies, Ltd. of 47 Arbour Vista Way NW, Calgary, Alberta, T3G 4R1 (ABT) hereby terminate the prior Fee Agreement signed by BFE and ABT on January 14, 2011, and replace it with the following terms and provisions. ABT proposes and BFE acknowledges that the terms and conditions of this Sales Commission Agreement are as follows:
| Scope of Services |
| 1a. | ABT shall, identify, screen and qualify prospective clients to purchase drill bits, provide introductions to such companies and individuals, and assist with managing client accounts. |
Fees and Allowances
| 2a. | Upon BFE's receipt of payment from a client introduced by ABT, a sales commission equal to 5% of the gross sales price shall be paid by BFE to ABT. |
Term of Agreement
| 3a. | The term of the Agreement is 2 years. |
General Provisions
| 4a. | BFE and its principles covenant that they shall refrain from any effort to contact, communicate with, or circumvent ABT with regard to, any company or individual introduced to BFE by ABT without ABT’s authorization. |
| 4b. | BFE and ABT hereby agree to mandatory arbitration to resolve any issues which are contended between the parties to this Agreement. |
| 4c. | This Agreement represents the entire understanding between the parties and may not be amended or modified except in writing and with the consent and agreement of both parties. Should any portion of this Agreement be declared invalid, such declaration shall not affect remaining portions of the Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without giving effect to choice of law doctrine. |
| 4d. | This Agreement may be executed in multiple counterparts, each of which will be deemed as an original and all of which taken together shall constitute but one and the same instrument. |
Please confirm that the foregoing is in accordance with your understanding by signing and returning to us the enclosed duplicate of this letter.
Best regards,
/s/ Alexandre Borissov
Alexandre Borissov, April 26, 2012
Alexandre Borissov, April 26, 2012
AGREED AND ACCEPTED:
BlueFire Equipment, Inc.
/s/ William A. Blackwell
William A. Blackwell, April 26, 2012
