WHEREAS, the Licensor is implementing a community parade (hereinafter the “Parade”) and is soliciting designs for inclusion in the Parade;
WHEREAS, Designer desires to submit original design for consideration of inclusion in the Parade; and
WHEREAS, the Licensor and Designer desire to set forth the terms upon which Designer shall submit design for the Licensor for consideration of inclusion in the Parade.
NOW, THEREFORE, upon the mutual covenants contained herein and for other good and valuable consideration, the receipt, adequacy and sufficiency of which is hereby acknowledged, the parties agree as follows:
4.1 In consideration of the performance of the creative services described herein and in consideration of the transfer of rights to the Licensor under this Agreement, the Designer has the opportunity to participate in the Parade, to receive recognition from Parade participation and, if Designer’s Design is sponsored, the Licensor will pay the Designer a stipend of Two Thousand Dollars ($2000.00) for the successful completion of the Sculpture within the time frame set forth by the Licensor for completion. No stipend will be given to Designer if the Design is not sponsored. Nor will any stipend be given to a Designer who has pre-selected their sponsor: any stipend in this case shall be solely between the Designer and sponsor.
4.2 The above stated amount is the full and complete compensation given to the Designer for all costs and expenses associated with Designer’s services hereunder. The Licensor is not obligated and will not reimburse the Designer for any charges, travel time, time, materials or other expenses incurred by the Designer.
4.3 The Licensor will make payment to the Designer of the above stated amount within thirty (30) days of acceptance by the Licensor of the completed Sculpture and the application of the protective clear coat.
4.4 In the event the Designer fails to comply with any terms or conditions of this Agreement or to provide in any manner the work or services as agreed herein, the Licensor reserves the right to withhold any payment until the Licensor is satisfied that corrective action has been taken or completed and such action is approved by the Licensor. This option is in addition to and not in lieu of the Licensor’s right to terminate the Designer’s services as provided for herein.