Speedway Sponsorship Agreement

See contract.txt for a text version of this document.

SPONSORSHIP AGREEMENT

 
THIS SPONSORSHIP AGREEMENT ("Sponsorship Agreement" or 
"Agreement") is made by and between 

Race Team _____________________________ ("The Race Team"), 

and Sponsor:___________________________ ("The Sponsor"), 
 
 
STATEMENT OF PURPOSE 
 
 
"The Sponsor" has agreed to act as an associate sponsor for a Speedway 

team fielded by "The Race Team" and driven by ________________________.
"The Sponsor" expects to receive promotional and 
advertising benefits from such sponsorship. It is the intention of the 
parties hereto to field competitive motorcycles in all the events for 
which "The Sponsor" has agreed to serve as associate sponsor. 
 
 
Now, therefore, in consideration of the mutual covenants and agreements 
hereinafter set forth and intending to be legally bound hereby, the 
parties hereto agree as follows: 
 
 
I. SPONSORSHIP 
 
 
1.01 "The Race Team" hereby grants to "The Sponsor" a Sponsorship 
relationship with the speedway motorcycle(s) raced under number ____ 
for the fee paid and other considerations contained herein. 
 
 
1.02 "The Sponsor" shall have a decal located: 

___________________________________________________________________________

In addition, the "The Sponsor" logo will be embroidered on:

___________________________________________________________________________

[Specify other sponsorship services to be provided.] 
 
___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________
 

1.03 All decals for the race motorcycles and all painting and other 
preparation of the race motorcycles shall be provided at the expense of 
"The Race Team". 
 
 
1.04 Except as herein otherwise expressly provided to the contrary, the 
cost of providing, painting and maintaining the above items shall be the 
responsibility of "The Race Team". 
 
 
1.05 During the term of this Sponsorship Agreement, "The Race Team" shall 
maintain a race team, and shall use its best efforts to qualify and 
compete in the remaining Speedway races at _________________ Speedway 
and/or such other Speedway races as "The Race Team" in its sole 
discretion may determine. 
 
 
II. DRIVER AND TEAM OBLIGATIONS 
 
 
2.01 During the term of this agreement and any renewals or extensions 
thereof, "The Race Team" represents and warrants to "The Sponsor" that: 
 
 
(a) It will at its own expense hire, furnish and maintain at all times an 
experienced first-class complete race team ("The Race Team") consisting 
of mechanics, pit crew, driver(s) and all other personnel necessary to 
furnish, maintain, operate and race the race motorcycle(s) and support 
vehicles, including, without limitation, ensuring that the following 
duties are performed: 
 
 
(i) Building the race motorcycles and purchasing or leasing all 
necessary support vehicles. 
 
 
(ii) Repairing, maintaining, storing and transporting the race 
motorcycles and support vehicles between Speedway races; and 
 
 
(iii) Utilizing its best efforts to qualify in and compete in the 
remaining Speedway races at ____________________ Speedway and/or such other 
Speedway races as "The Race Team" in its sole discretion may determine. 
 
 
2.02 "The Race Team" warrants to "The Sponsor" that it will secure the 
services of a qualified driver during the term of the sponsorship 
agreement, and that each driver will handle himself (herself) in a 
respectable manner that would not unfavorably impact any sponsor. 
"The Race Team" has the right to terminate the services of any driver 
should inappropriate behavior occur. 
 
 
2.03 In the event any driver's services should no longer become available 
to "The Race Team" for any part of a race season covered by this agreement, 
it is the exclusive right of "The Race Team" to replace the driver. The 
replacement or substitute driver is subject to no approvals other than 
"The Race Team"'s sole discretion. 
 
 
III. TERM AND TERMINATION 
 
 
3.01 The term of this contract is from the date executed, through the final 
race of the 20________ season at ___________________ Speedway, or such other Speedway races 
as "The Race Team" in its sole discretion sees fit to enter, this term not 
to extend past December. 31, 20_________. This contract shall apply to all 
Speedway races in which "The Race Team" competes during such term regardless 
of locale. 
 
 
3.02 Either party may terminate this agreement if the other party is 
found to have breached the terms of the agreement and said breach is 
not cured within thirty (30) days of receipt of written notice of such 
breach from the non-breaching party. In the event a breach cannot be 
completely cured within the thirty (30) days allowed to cure the breach, 
and the curing process has been started within thirty (30) days, and the 
breaching party has been diligent in its efforts to cure through the 
period, both parties may agree to continue the agreement until such time 
as the breach is cured. Rightful termination hereunder shall be without 
prejudice to any other rights or remedies a party may have. 
 
 
IV. COMPENSATION 
 
 
4.01 As compensation for the sponsorship relationship under the terms 
of this agreement, "The Sponsor" agrees to pay a total of $__________
 
and additional compensations such as products:

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

 
4.02 The schedule for the payment of this compensation shall be as follows: 
 
 
$__________ - Upon execution of this agreement. 
 
 
Payments are to be made payable to "The Race Team" and sent to the address 
shown below. 
 
 
V. INDEMNIFICATION 
 
 
5.01 "The Race Team" will indemnify, defend and hold "The Sponsor" and its 
affiliates, subsidiaries, officers, directors, employees, customers, 
distributors, independent contractors, suppliers, agents, successors and 
assigns, harmless from and against all actions, suits, proceedings, 
judgments, demands, claims, liabilities, losses or expenses whatsoever 
(including reasonable attorney's fees) incurred in connection with or 
arising from the race motorcycle(s), the support vehicle(s), the activities 
or omissions of driver or team members or the activities or omissions of 
"The Race Team" including, without limitation: 
 
 
(a) Any claim falling within the insurance coverage; 
 
 
(b) "The Race Team"'s breach, misrepresentation or non-performance under 
this agreement; 
 
 
(c) Any claim or action for or relating to personal loss, injury, death, 
property damage or otherwise, suffered by participants, competitors 
(such as the drivers), spectators or others at any of the racing events or 
team activities or activities relating to the race motorcycles (or their 
relatives as a result thereof) or otherwise; or 
 
(d) Any payment owed by "The Race Team" related to the team support vehicles 
or race motorcycles. 
 
 
5.02 Both during and after this sponsorship agreement, "The Sponsor" will 
indemnify, defend and hold "The Race Team", its officers, directors, 
employees, team members, customers, distributors, suppliers, agents, 
successors, and assigns, harmless from and against all actions, suits, 
proceedings, judgments, demands, claims, liabilities, losses, or expenses 
whatsoever (including reasonable attorney's fees) arising from 
"The Sponsor"'s breach, misrepresentation or non-performance under this 
agreement. 
 
 
VI. INSURANCE 
 
 
6.01 "The Race Team" shall provide at its expense and maintain throughout 
the term of this Agreement spectator liability insurance in an amount not 
less than $1 million single limit coverage with respect to any liability 
relating to the activities of the race team in the performance of this 
Agreement. This spectator liability insurance coverage is usually provided 
by the race track and the governing racing body ( A.M.A., C.M.A., F.I.M., 
I.C.E. ).If requested, "The Race Team" shall, within 90 days of the 
execution of this Agreement, supply "The Sponsor" with a copy of such 
policy of insurance or a certificate thereof, and such policies shall be 
cancelable only upon 10 days written notice to "The Sponsor". 

VII. MISCELLANEOUS 
 
 
7.01 This contract is not assignable by either party without written 
consent of all interested parties. 
 
 
7.02 Any notice required to be given under this agreement shall be sent 
via registered mail, return receipt requested and deemed given at the 
time it is received by either party, provided such notice is addressed as 
follows: 
 
 
Race Team:__________________

Attn: ______________________

ADDRESS:____________________

____________________________

____________________________

____________________________

 
Sponsor:____________________

Attn: ______________________

ADDRESS:____________________

____________________________

____________________________

____________________________

 
 
 
7.03 This agreement shall be governed and construed within accordance 
with the laws of _______________ (state / province).
 
 
7.04 This agreement constitutes the entire agreement between the 
parties and may not be modified, amended or changed except by a 
writing signed by all parties to this agreement. 
 
 
7.05 This agreement shall be binding upon and inure to the benefit of the 
parties hereto and their respective successors and assigns, provided that 
neither party hereto shall have the right to assign this agreement or 
delegate any duty, service or responsibility hereunder without the prior 
written consent of the other party. Each party to this sponsorship 
agreement warrants and represents that the individual signing this 
agreement on behalf of a corporate party has the authority to bind his or 
her respective company in and to the terms of the agreement and each 
party further warrants and represents that it is authorized by its Board 
of Directors to enter into this sponsorship agreement. 
 
 
Race Team:_________________________
 
By: 
Print Name: ______________________
 
 
Title: ____________________________
 
 
Date: ____________________________
 
 

 
Sponsor: __________________________
 
By: 
Print Name: ______________________
 
 
Title: ____________________________
 
 
Date: ____________________________