DEVELOPER AGREEMENT
THIS AGREEMENT is made this 19th day of June 2023.
BETWEEN:
1. #1 Business Network (Legally known as Ace of Diamonds Inc.) of the first
part, hereby known in this document as “The Network & #1 Business Network”.
2. The Developer (as defined below) of the second part.
WHEREAS:
A. The Network owns all data, specifically described as: Source Code, Project Data,
Intellectual Property, and any relevant data towards all projects incubated in the #1
Business Network. (Hereinafter referred to as "Data").
B. The Network wishes to allow the Developer to use the Data in connection with the
development of certain projects (the "Project"). And not for other purposes outside of
The Network’s best interest. The Developer will use that Data only to develop their
project for The Network.
C. The Developer uses the Data to develop the Project, and gains marketing services for
their developments from The Network. The Developer will receive 50% of all profits
generated by their respective projects created. If multiple developers work on one
project, then the profit will be split equally.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and for
other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. GRANT OF RIGHTS
The Network hereby grants to the Developer a non-exclusive, worldwide, and
royalty-free right to use the Data solely for the purpose of developing the Project,
in accordance with the terms and conditions of this Agreement, for The
Network’s best interest, defined by the rightful CEO.
2. PROFIT SHARING
The Developer and The Network agree to share the net profits derived from the
Project on a 50:50 basis. Net profits shall be calculated as gross revenues minus
all direct costs and expenses. Such profits will be distributed on a quarterly basis.
3. INTELLECTUAL PROPERTY
All rights, title, and interest, including intellectual property rights, in and to the
Data, and any derivative works thereof, will remain solely with The Network. Any
improvements or modifications made to the Data by the Developer will be owned
by The Network. The Developer agrees to execute any documents necessary to
effect such ownership.
4. DEVELOPER OBLIGATIONS
The Developer agrees to use best efforts in developing the Project and to
communicate regularly with The Network. Once per week at least, regarding
development progress.
5. TERM AND TERMINATION
This Agreement commences on the Effective Date and continues indefinitely until
terminated by The Network.
6. CONFIDENTIALITY
The Developer agrees to keep the Data confidential and not to disclose it to any
third party without the prior written consent of The Network.
7. GOVERNING LAW & LIABILITY WAIVER
This Agreement will be governed by and construed in accordance with the laws
of the jurisdiction where The Network is located, in California, USA. The
Developer agrees not to sue The Network and forfeits any future or current legal
action against The Network for any purpose.
8. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior discussions,
negotiations, and agreement, whether oral or written.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.
#1 Business Network (Ace of Diamonds Inc.)
By: ____________________
Name:
Title:
Developer
By: ____________________
Name: