Standard Web Broker Terms of Business

This agreement is made effective on the time and date in which you click ‘Accept Lead | Agree to Commission Terms’ in the Prospective Customer email (the Agreement)

1. Coworker, Inc a private company incorporated under the laws of the Delaware (USA) with it’s registered address at 8 The Green, Dover, DE 19901 (Referred to as Coworker); and

2. Your company has a workspace listed on Coworker.com, and has received a Prospective Customer from Coworker (Referred to as Partner)

Hereinafter together referred to as the Parties and individually as a Party.

DEFINITIONS:

• Commission: has the meaning given to it in the COMMISSIONS clause below

• Prospective Client: a party with whom you enter discussions in relation to the Services

• Relevant Contract: a contract for the supply of Services entered into between you or a member of your corporate group and a Prospective Client who was introduced to you by Coworker.

• Services: the workplace solutions, office and co-working services to be provided by you to a Prospective Client pursuant to a Relevant contract

INTRODUCTIONS:

Coworker has a marketplace that resides on the web at www.coworker.com, along with a client engagement team, and helps people and businesses find workspace. You are agreeing to appoint Coworker on a non-exclusive basis to identify leads and make introductions to prospective clients, with the objective of you and the Prospective Client entering into a Relevant Contract, on the terms of this Agreement.

Coworker shall:

a.) send leads and bookings via the Partner’s listing on coworker.com

b.) engage with clients through offline methods, and market the Partner’s space as workspace option  

c.) report to you from time to time with progress and feedback from the Prospective Clients

You agree to:

a.) receive customer bookings that Coworker sends and providing the customer with workspace (*if you have online bookings enabled on your workspace web listing)

b.) receiving leads / tours Coworker send and making efforts to convert the lead into a long-term paying   membership

c.) paying Coworker for fees on time (see COMMISSIONS below).

COMMISSIONS:

Leads will be delivered to the partner by email and have PARTIAL customer contact information. The Partner has the opportunity to see the partial customer information and determine if they are already working with the customer, or not.

By clicking the ‘Accept Lead | Agree to Broker Terms’ button in the partial lead email, you agree that Coworker is the authorized agent for this Prospective Client. Coworker shall be entitled to Commission if a Prospective Client introduced by Coworker through an online booking or enters into a Relevant Contract.

Compensation will be calculated at:

• 10% of the Relevant Contract value which constitutes the rental / license / coworking membership fee of the desk, meeting room, office, virtual office, or event space, payable by the Prospective Client for the initial committed term, and any renewals up to a maximum of 12 months in the aggregate. If the Prospective Client signs for a term less than 12 months, Coworker shall be entitled to receive 10% on any extension of the initial term up to 12 months.

• 20% of any online bookings of 7 days or less for any desk, meeting rooms, private office, or event space. For online bookings, Coworker will capture the payment and/or our commission at the time of the booking, and the Partner will be paid out their balance when the customer arrives. If the Prospective Client enters into a Relevant Contract after the initial booking, Coworker shall be entitled to receive 10% on any extension of the initial term up to 12 months.

*The online booking feature is optional, and can be enabled or disabled per the preference of the Partner at any time on their web listing management dashboard.

• 2% of the Relevant Contract value which constitutes the rental / license / coworking membership fee for each year after thereafter, whether this of a fixed term or month by month.

The Commissions payments shall also apply to the value of any incentives offered by you to the Prospective

 Client pursuant to the terms of the Relevant Contract.

You shall promptly notify Coworker in writing of the following:

a.) the date you enter into a Relevant Contract;

b.) the amount of the payments due for Services under it; and

c.) the dates on which payments for such services are payable,

And in any event, no later than 3 business days after you enter into such Relevant Contract.

PAYMENT:

• All commission payable shall be due to Coworker (whether invoiced or not) within 30 days from when you received the corresponding payment for Services.

• Within 30 days from receiving the payment for Services send Coworker a written statement setting out:

1. The Commission payable to Coworker
2. The payments for Services received and the details of any sums due which have not been received; and
3. How the Commission has been calculated

• Coworker shall invoice you for the Commissions payable in accordance with your statement submitted, together with any applicable V.A.T, and the due date for payment by you of such Commission shall be 30 days from the date of invoice.

CONFIDENTIALITY:

By signing this Agreement, the Parties acknowledge that certain information provided to the Parties by one of the Parties in relation to this Agreement (including but not limited to a Party’s business, operations and assets) is strictly confidential and may not be disclosed without prior written consent of the other Party.

DISPUTES & LIABILITY:

Coworker cannot be held responsible or held liable for any damages resulting from the relationship between the client and the Partner. Coworker cannot be held liable for any payments and invoices between the client and Partner, and cannot be involved in any disputes between those parties.

TERM:

This Agreement shall:

1. Commence on the time and date in which you click ‘Accept Lead | Agree to Commission Terms’ in the Prospective Customer email (the “Commencement Date”); and
2. Continue indefinitely until; and
3. Either party may terminate this commercial broker agreement after 30 days written notice by either party. Upon written notice, the agreement will continue for 30 days, with the final balance due 30 days after written notice. If agreement is terminated, Coworker.com reserves the right to remove the value added services listed above. All leads sent until the termination date of the agreement shall be included in the COMMISSIONS.

APPLICABLE LAW:

This agreement shall be governed by, and shall be construed in accordance with, the laws of Delaware. Any dispute arising from the interpretation or the execution of this agreement shall first be settled by negotiation between the parties. Any dispute which cannot be resolved by mutual agreement shall be subject to the exclusive jurisdiction of the Courts of the Delaware.

ACCEPTANCE:

The representative of the Partner who has received the Prospective Customer email and clicked ‘Accept Lead | Agree to Commission Terms’, verifies that the terms of this agreement are acceptable. The representative  of the Partner is acting with proper authority by their respective company.