PROFILES INTERNATIONAL LTD.
- A new joint company (Profiles International Ltd., ‘PIEU’) is formed. The capital is, for example, $10.000 which is paid by Profiles International, Inc. (‘PIUS’) and TDO (or order) with $6.000 and $4.000 respectively.
- Ownership is split as 55% PIUS, 40% TDO and 5% Martin Goodwill.
- A budget focusing expenditures on a Sales person’s salary, search engine optimization and present office is created.
- PIEU buys select activities (SBP and Clients contracts) from Profiles GB Ltd. for $1.
- PIEU hands over all Clients to CS for a 60% commission.
TDO (or order) investment
- TDO agrees to pay expenditures, not funded by the day-to-day running, up to $200K (€?) at which point expenditures will be funded according to equity interests unless other options are decided in unity.
- TDO expenditures include bringing on and managing a Sales person.
- TDO expenditures include office rental and search engine optimization.
- License to Great Britain and inventory (how much is to be negotiated)
- PIUS handle all matters regarding Martin – like buying back inventory (optional) AND bringing Martin onto Waco team as PIEU CS executive on base salary and commission; he is to be managed by Kelly Painter in setting up and implementing standard CS practices. Martin will also service International Clients.
- After X years Martin is offered a bonus equaling 20% of PIEU actual value with a maximum of £75.000.
- Buy out TDO after Y years – terms to be agreed.