RECITALS
WHEREAS, the Sponsor desires to provide financial support to the Sponsee in exchange for promotional opportunities during motorsport events;
WHEREAS, the Sponsee agrees to offer advertising and promotional benefits to the Sponsor in return for the Sponsorship Fee;
THEREFORE, the parties agree as follows:
Sponsorship Rights and Benefits
Sponsor’s logo will be prominently displayed on Alan Johnson’s race helmet, suit and/or vehicle for the duration of the season in agreement.
Sponsor may use Two Kings Racing’s name, logo, and images for promotional purposes in connection with the sponsored events.
Sponsee will acknowledge Sponsor in social media posts, media interviews, and promotional materials where appropriate.
Sponsorship Fee and Payment Terms
Sponsor agrees to contribute a total sponsorship as per the individual arrangement.
Full amount payable upon issue of invoice following execution of this Agreement.
Monthly, quarterly and weekly payment plans are supported.
Payment shall be made via bank transfer to the account nominated by Two Kings Racing.
Non-payment
Failure to pay the invoiced amount may result in suspension of sponsorship benefits, including removal of branding from race gear and promotional materials including on social media.
Term and Termination
This Agreement is effective upon signing for the calendar year ahead and remains in force until 31 December.
Sponsor is granted the option to renew for the following season
Either party may terminate by mutual written agreement or for breach not remedied within 30 days of notice.
Representations and Warranties
Each party warrants authority to enter this Agreement and agrees to comply with applicable laws.
Indemnification
Each party agrees to indemnify the other against claims arising from negligence, misconduct, or breach of this Agreement.
Miscellaneous
Amendments must be in writing.
Governing law: Queensland, Australia.
Disputes resolved via mediation, then binding arbitration if needed.
Event Cancellation and Non-Participation
No refunds for race cancellations or driver non-participation due to force majeure or personal reasons. Alternative promotional options may be offered.
Confidentiality
Both parties agree to maintain confidentiality of non-public information shared under this Agreement.
Intellectual Property
Each party retains ownership of their IP.
Licenses granted for promotional use as outlined in this Agreement.
Marketing and Promotional Activities
All materials using the other party’s branding must be approved prior to use.
Collaboration on joint promotions is encouraged.
Limitation of Liability
No liability for indirect damages.
Direct damages capped at total Sponsorship Fee paid.
Notices
All communications must be in writing and sent to the addresses listed above.
Electronic signatures and email delivery are valid under the Electronic Transactions Act 1999 (Cth).
Force Majeure
Neither party is liable for delays due to events beyond their control.