Strategic Partnership Agreement

Strategic Partnership Agreement
” اتفاقية الشراكة الاستراتيجية “

This agreement was established between:

First Party:
Mr. Salem Al-Masrahi (Virtual Society Investment Company) – Saudi national – Email: salemgrp@gmail.com – Mobile: +966503844438

Second Party:

Preamble:

Given the Second Party’s desire to join the Strategic Partnership Program offered by the Virtual Society Company, and in view of the program’s provision of marketing, advertising, and communication support services, both parties have agreed to adhere to the following terms and conditions:

 

Article One:

  1. The Second Party’s company joins the Strategic Partnership Program offered by the First Party under the agreed-upon terms.

  2. The Second Party receives a 75% discount on the subscription fee in exchange for an agreed-upon percentage of revenues or profits, as specified below.

 

Article Two:

During the contract period, the Second Party benefits from the following services:

  1. Creation of professional marketing content (introductory video, podcast, and interactive landing page).

  2. Assignment of a dedicated WhatsApp group for partner-client communication.

  3. Weekly advertisements for the Second Party’s products and services within the First Party’s WhatsApp groups.

  4. Business development consultations and assistance in attracting potential clients and partners.

 

Article Three: Obligations of the Second Party

  1. The Second Party agrees to forfeit a specific percentage of revenues or profits as agreed upon by both parties.

  2. The Second Party grants the First Party full access to monthly sales, expenses, and financial flow statements.

  3. The Second Party commits to using the program seriously and professionally to achieve shared objectives.

 

Article Four: Agreed Percentage (for those receiving the discount)

  1. The Second Party receives a 75% discount on the subscription fee for the Strategic Partnership Program as detailed on the Virtual Society Company website. Both parties agree on a specific percentage of revenues or profits in writing through a separate annex signed by both parties.

  2. The percentage is paid to the First Party monthly or quarterly, as agreed, based on financial reports provided by the Second Party.

 

Article Five: Termination of the Contract

  1. The First Party reserves the right to terminate the contract immediately under the following conditions:

    • Misuse of the program by the Second Party.

    • Lack of seriousness by the Second Party in achieving shared objectives.

    • Failure to provide regular financial reports or withholding required information.

  2. Upon termination, the First Party ceases providing services immediately, and the Second Party must settle any outstanding financial obligations.

 

Article Six: Confidentiality

  1. Both parties commit to maintaining the confidentiality of all information exchanged during the contract period and not disclosing it to any third party without prior written consent.

  2. This obligation remains effective even after the contract’s termination.

 

Article Seven: Disputes and Applicable Laws

  1. This agreement is governed by the laws and regulations of the Kingdom of Saudi Arabia.

  2. In the event of a dispute between the parties, an amicable resolution is sought first. If this fails, the matter is referred to the competent judicial authorities.

 

Article Eight: Agreement Duration

  1. This agreement is valid for one year and may be renewed with the written consent of both parties.