Speedway Sponsorship Agreement
See contract.txt for a text version of this document.
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:
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
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.
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
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
(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
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".
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
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.
Print Name: ______________________
Print Name: ______________________