For the duration of the agreement more than 12 months after the expiry or termination of the agreement, the entity and any related entity or person (without the dealer`s consent) will not initiate, solicit, negotiate, contract or contract, contract, contract or directly or indirectly enter commercial transactions, agreements or commitments with a third-party customer identified or imported by the reseller. The term of the contract is at least two (2) years without the company being terminated for convenience and is automatically renewed for one (1) additional year. The contract may only be terminated by the company at the end of the initial term or an extension period after ninety (90) days after written notification. Buyback agreements regulate the terms of the acquisition of shares of their own by a shareholder, investor or employee. Use this model for the exchange agreement to outline the processes, responsibilities and insurance related to the withdrawal of shares from the company. In order to guarantee an internationally recognized neutral right and jurisdiction, the reseller agreement is governed by state law [STATE] in the United States and the parties submit to the exclusive jurisdiction and jurisdiction of [COUNTY], [STATE]. I understand. With regard to the re-sale agreement, the parties presented the agreements they entered into under this agreement as follows: PandaTip: a Memorandum of Understanding does not, as a general rule, constitute a legal obligation for the parties concerned. It is a formalized handshake or method of documenting negotiations in a faithful constitution or certain agreements expected in an agreement being drafted by the parties. This Memorandum of Understanding assumes a future reseller or product distribution contract. Exclusive resale rights in the territory are granted to the dealer for the duration of the contract.
Exclusivity in the territory depends on the reseller maintaining a minimum sales volume of 15 units in the first year and 15 units in subsequent years, provided that the company fulfills all obligations under the agreement that may affect the dealer`s ability to achieve those volumes.