Mentorship Agreement

RISK SHARED MENTOR PARTNERSHIP AGREEMENT

This Risk Shared Mentor Partnership Agreement (“Agreement”) is entered into as of the date of payment of the initial mentorship fee (“Effective Date”) by and between ConCardia, LLC, a Limited Liability Company formed in the State of Connecticut, led by Michael Whitehouse, “The Guy Who Knows a Guy” (“Mentor”), and the participant (“Client”).

WHEREAS, the Mentor offers mentorship services to assist the Client in achieving success by providing access to his knowledge, network, and resources;

WHEREAS, the Client desires to participate in the mentorship program under the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:

1. Purpose of the Agreement

The purpose of this Agreement is to establish an ongoing partnership wherein the Mentor provides various forms of assistance to support the Client’s success, and the Client agrees to share a portion of the financial gains resulting from this partnership.

2. Services Provided by Mentor

The Mentor agrees to provide assistance that may include, but is not limited to:

  • Individual coaching
  • Group coaching
  • Creating masterminds
  • Making introductions
  • Directly referring clients
  • Any other activities the Mentor deems appropriate to generate revenue for the Client in an ethical, moral, and aligned manner

3. Initial Payment

  • Amount: The Client shall make a one-time initial payment of $1,000 upon mutual agreement of fit for the program. This shall initiate the relationship and bring this agreement into force.
  • Refund Policy: The initial payment is subject to the Unconditional 30-Day Money-Back Guarantee as outlined in Section 8 of this Agreement. Additionally, the Mentor retains the right to terminate the relationship should he feel it is not a good fit within the first 30 days at which time he will issue a full refund.

4. Calculation and Payment of Revenue Share

  • Reporting: The Client shall, on a monthly basis and at a mutually agreed-upon regular time, provide the Mentor with a report detailing total relevant revenues.
    • While not required, the Client is encouraged to provide a breakdown of revenues, including excluded revenues.
  • Excluded Revenues: The Client may exclude revenues not attributable to the Mentor’s services, such as:
    • Income from previous clients
    • Income from unrelated business ventures
    • Passive income
    • Revenues with significant hard costs (e.g., fees paid to co-instructors, space rental fees)

5. Revenue Sharing

  • Revenue Share Percentage: The Client agrees to pay the Mentor 10% of the revenues generated that are attributable to the Mentor’s services as indicated by the Monthly Report.
  • Minimum Monthly Fee: A minimum fee of $100 per month is required to remain in the program. This fee will be charged automatically each month.
    • The Client may reduce their monthly revenue share payment by $100 to account for the minimum monthly fee, if applicable.

6. Honor System

  • The Client is trusted to accurately and fairly determine the revenues attributable to the Mentor’s services.
  • All calculations and determinations are made in good faith by the Client.
  • Should the Mentor feel that reported revenues are unfair, he reserves the right to terminate the Mentorship relationship. All Post-Termination Obligations would be the same as if the Client terminated, as outlined in Section 7.

7. Termination of Agreement

  • By Client: The Client may exit the program at any time for any reason by providing written notice to the Mentor.
  • Post-Termination Obligations:
    • The determination of any revenue share due is based solely on the Client’s assessment.
    • The Client is expected to make clear to the Mentor any pending revenues and ongoing revenues, if any, that they will pay on.
    • The Client is expected to pay revenue shares on any pending revenues resulting from the Mentor’s services, even after termination.
      • Pending Revenues are defined as revenues from clients or deals initiated but not yet closed before termination.
    • The Client is within their rights to determine that no pending revenues exist and no additional payments will be made. In this case, the Client should make this clear to the Mentor at the time of termination.
  • Adjustment of Relationship: Upon mutual agreement, the parties may adjust the terms of their relationship, such as transitioning to a referral partnership.

8. Unconditional 30-Day Money-Back Guarantee

  • The Client is entitled to a full refund of the initial $1,000 payment, provided the request for a refund is made within 30 days of the Effective Date.
  • To initiate the refund, the Client must participate in a final call with the Mentor to discuss any dissatisfaction.
    • The refund will be processed regardless of the outcome of this call.
    • The refund remains valid as long as the request for a refund is made within 30 days, even if the final call occurs after the 30-day period.

9. Confidentiality

  • Obligations: The Mentor agrees to keep confidential all information learned through the mentorship, except as permitted herein.
  • Mentor’s Discretion: It is the Mentor’s exclusive right to determine what information should be kept confidential.
  • Exceptions:
    • If the Mentor discovers the Client is engaging in unethical, immoral, or illegal practices, the Mentor may disclose such information as necessary to protect others.
    • The Mentor may share information when it benefits the Client, such as making introductions.
  • No Privileged Relationship: The parties acknowledge that there is no privileged relationship (e.g., attorney-client privilege) between the Mentor and the Client. Information shared during the mentorship may be subject to subpoena or legal disclosure.

10. Dispute Resolution

  • No Litigation: Both parties agree not to initiate litigation against each other for any disputes arising from this Agreement.
  • Mediation: Any disputes requiring resolution shall be settled through mediation conducted in accordance with the rules of a recognized mediation service in Connecticut.
  • Agreement to Mediate: Both parties agree to participate in good faith in the mediation process before pursuing any other form of dispute resolution.

11. No Legal Obligations

  • This Agreement is based on mutual trust and good faith.
  • The parties acknowledge that there are no enforceable legal obligations beyond those expressly stated herein.
  • Both parties agree to mediation should there be a dispute that requires litigation.

12. General Provisions

  • Binding Agreement: This Agreement becomes binding upon the Client’s payment of the initial mentorship fee.
  • Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements.
  • Amendments: Any amendments to this Agreement must be made in writing and agreed upon by both parties.
  • Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Connecticut.
  • Severability: If any provision of this Agreement is found to be unenforceable, the remaining provisions shall remain in full force and effect.
  • Electronic Acceptance: This Agreement may be accepted electronically and is considered binding upon payment of the initial mentorship fee.

13. Acknowledgment

By making the initial payment, the Client acknowledges that they have read, understood, and agree to all terms and conditions set forth in this Agreement.

Note: A copy of this Agreement will be emailed to the Client upon acceptance. If the Client finds any terms objectionable upon further review, they may exit the arrangement for a full refund within 30 days of the initial payment, without the need for a meeting, as outlined in Section 8.