MAGNETUDE JEWELRY INDEPENDENT REPRESENTATIVE AGREEMENT 1. Obligations and Representations. You understand that as a Magnetude Jewelry Representative: - You must be of legal age in the state in which you reside.
- You have reviewed and agreed to the company policies and procedures.
- You have the right to market and offer for sale Magnetude Jewelry products, a patented and trademarked fashion jewelry, specifically interchangeable bio-magnetic jewelry and other products as they are developed by Magnetude Jewelry in accordance with the terms and conditions of this Magnetude Jewelry Representative Agreement. • You have the right to build a Magnetude Jewelry sales team.
- You will train and motivate the Representatives in your downline marketing organization per Magnetude Jewelry policies.
- You will comply with all federal, state, county, and municipal laws, ordinances, rules, and regulations, and shall make all reports and remit all withholdings or other deductions as may be required by any federal, state, county, or municipal law, ordinance, rule, or regulation.
- You will perform your obligations as a Magnetude Jewelry Representative with honesty, integrity and in the spirit of teamwork and fairness.
- You will use only the forms which are offered by Magnetude Jewelry for the sale of goods and services, and you will follow all policies and procedures established by Magnetude Jewelry for the completion and processing of such agreements and orders.
2. Authorization and Contract. By executing this Magnetude Jewelry Indepenedent Representative (Representative) Agreement (“Agreement”), you apply for legal authorization to become a Magnetude Jewelry Representative and enter into contract with Magnetude Jewelry. You acknowledge that prior to signing you have received, read and understood the Magnetude Jewelry Income Disclosure Statement, that you have read and understood the Magnetude Jewelry Policies and Procedures, which are incorporated into this Agreement and made part of it as if restated in full, as posted on www.Magnetudejewelry.com , and that you have read and agree to all terms set forth in this Agreement. Magnetude Jewelry reserves the right to reject any application for any reason within 90 days of receipt. 3. Expiration, Renewal, and Termination. The term of this Agreement is one year (subject to prior cancellation or disqualification as provided in the Policies and Procedures). If you fail to annually renew your Magnetude Jewelry business, or if it is canceled or terminated for any reason, you understand that you will permanently lose all rights as a Representative. You shall not be eligible to sell Magnetude Jewelry memberships and products nor shall you be eligible to receive royalties, bonuses, or other income resulting from the activities of your former downline sales organization. In the event of cancellation, termination or nonrenewal, you waive all rights you have, including but not limited to property rights, to your former downline organization and to any bonuses, commissions or other remuneration derived through the sales and other activities of your former downline organization. Magnetude Jewelry reserves the right to terminate all Representative Agreements upon 30 days’ notice if the Company elects to: (1) cease business operations; (2) dissolve as a business entity; or (3) terminate distribution of its products and/or services via direct selling channels. Representative may cancel this Agreement at any time, and for any reason, upon written notice to Magnetude Jewelry at its principal business address. Magnetude Jewelry may cancel this Agreement for any reason upon 30 days advance written notice to Representative. Magnetude Jewelry may also take actions short of termination of the Agreement, if the Magnetude Jewelry Representative breaches any of its provisions. 4. Independent Contractor Status. You agree this authorization does not make you an employee, agent, or legal representative of Magnetude Jewelry or your Sponsoring Representative. As a self-employed independent contractor, you will be operating your own independent business. You have complete freedom in determining the number of hours that you will devote to your business, and you have the sole discretion of scheduling such hours. You will receive IRS Form 1099-MISC reflecting the amount of income paid to you during the calendar year. By agreeing to these terms, you agree to receive the 1099-MISC form via electronically. It will be your sole responsibility to account for such income on your individual income tax returns. You agree that Magnetude Jewelry will not maintain any comprehensive general liability, workers’ compensation, or other insurance for you. You are ineligible to participate in any employee benefit plan of Magnetude Jewelry. You agree that you will be solely responsible for paying all expenses you incur, including but not limited to travel, food, lodging, secretarial, office, long distance telephone, and other expenses. YOU UNDERSTAND THAT YOU WILL NOT BE TREATED AS AN EMPLOYEE OF MAGNETUDE JEWELRY FOR FEDERAL OR STATE TAX PURPOSES. You acknowledge and agree that Magnetude Jewelry is not responsible for withholding and shall not withhold or deduct from your bonuses and commissions, if any, FICA, or taxes of any kind, unless such withholding becomes legally required. You agree to be bound by all sales tax collection and remittance agreements between Magnetude Jewelry, all appropriate taxing jurisdictions, and all related rules and procedures. 5. Magnetude Jewelry Policies. You have carefully read and agree to comply with the Magnetude Jewelry Policy Manual which is incorporated into the Magnetude Jewelry Representative Agreement by this reference and become part of the Contract. I understand that I must be in good standing and not in violation of any of the terms of the Contract in order to be eligible to receive compensation from Magnetude Jewelry. I understand that the Contract, including this Magnetude Jewelry Representative Agreement, the Magnetude Jewelry Compensation Plan and the Magnetude Jewelry Policy manual, may be amended at any time at the sole discretion of Magnetude Jewelry. You agree that upon 30 days’ notice any such amendment will apply to you. Notification of amendments will be published in official Magnetude Jewelry materials including Magnetude Jewelry’s official website, in newsletters or at official company events. You agree that the continuation of your Magnetude Jewelry business or your acceptance of compensation shall constitute acceptance of any and all amendments to the Contract. 6. Refunds and Product Returns. You agree that if you resell Product directly to a customer, you will adhere to Magnetude Jewelry’s 100% satisfaction guarantee policy and shall provide the customer a full refund of all monies paid if the customer returns the product to you within ninety (90) days of the sales transaction. If you are not 100% satisfied with our products or are unable to sell them, you may return the items for a refund if neither you nor we have terminated the Agreement and the products were purchased within six months and remain in resalable condition. The refund shall be 90% of the purchase price. Shipping and handling charges incurred will not be refunded. 7. Presenting the Plan. You agree when presenting the Magnetude Jewelry Compensation Plan to present it in its entirety as outlined in official Magnetude Jewelry materials, emphasizing that sales to customers are required to receive compensation in the form of bonuses on downline volume. In presenting the plan to prospects, you agree not to utilize any literature, materials or aids not produced or specifically authorized in writing by Magnetude Jewelry. You agree to instruct all prospective Representatives to review the Magnetude Jewelry Income Disclosure Statement. 8. Selling Memberships. You agree to make no representations or claims about any membership benefits beyond those shown in the official Magnetude Jewelry literature. You further agree to never state or imply that any of the Magnetude Jewelry products can be used to treat, mitigate or cure diseases. 9. Magnetude Jewelry’s Proprietary Information and Trade Secrets. You recognize and agree that, as further set forth in the Policies and Procedures, information compiled by or maintained by Magnetude Jewelry, including Line of Sponsorship (LOS) information (i.e., information that discloses or relates to all or part of the specific arrangement of sponsorship within the Magnetude Jewelry business including, without limitation, Representative lists, sponsorship trees, and all Magnetude Jewelry Representative information generated there from, in its present or future forms), constitutes a commercially advantageous, unique and proprietary trade secret of Magnetude Jewelry, which it keeps as proprietary and confidential and treats as a trade secret. During the term of your contract with Magnetude Jewelry, Magnetude Jewelry grants you a personal, non-exclusive, non-transferable and revocable right to use trade secret, confidential, and proprietary business information (Proprietary Information), which includes, without limitation, LOS information, business reports, manufacturing and product developments, and Representative sales, earnings and other financial reports to facilitate your Magnetude Jewelry business. 10. Non-Competition Agreement. In accordance with the Policies and Procedures, you agree that during the period while you are a Representative, and for (1) one year following resignation, non-renewal, or termination of your business, you will not compete with Magnetude Jewelry. This covenant shall survive the expiration or termination of your authorization and contract with Magnetude Jewelry. 11. Confidential Information. You acknowledge that you will not disclose to any person or entity or use (other than required by applicable law or for the proper performance of my duties and responsibilities to Magnetude Jewelry any confidential information obtained incident to this Contract or other association with the Magnetude Jewelry. You understand that this restriction shall continue to apply after this Contract terminates, regardless of the reason for such termination. All documents, records and other media kind and description relating to the business, present or otherwise, including without limitation, formulas, processes, client lists, supplier lists, price lists, trade secrets and business forecasts, of Magnetude Jewelry and any copies, in whole or in part, thereof (collectively, the “Documents”), whether or not prepared by you, shall be the sole and exclusive property of Magnetude Jewelry. You agree that you shall safeguard all Documents and shall surrender, if requested, to Magnetude Jewelry at the time this Agreement terminates, or at such earlier time or times as the Company may specify, all Documents then in your possession or control. 12. Non-Solicitation Agreement. In accordance with the Policies and Procedures, you agree that during the period while you are a Representative, and for (1) one year following resignation, non-renewal, or termination of your business, you will not encourage, solicit, or otherwise attempt to recruit or persuade any other Magnetude Jewelry Representative to compete with the business of Magnetude Jewelry. 13. Images / Recordings / Consents. You agree to permit Magnetude Jewelry to obtain photographs, videos, and other recorded media of you or your likeness. You acknowledge and agree to allow any such recorded media to be used by Magnetude Jewelry for any lawful purpose, and without compensation. 14. Modification of Terms. With the exception of the dispute resolution section in Policies and Procedures, which can only be modified by way of mutual consent, the terms of this Agreement may be modified. 15. Jurisdiction and Governing Law. The formation, construction, interpretation, and enforceability of your contract with Magnetude Jewelry as set forth in this Representative Agreement and any incorporated documents shall be governed by and interpreted in all respects under the laws of the State of California without regard to conflict of law provisions. Louisiana residents: notwithstanding the foregoing, Louisiana residents may bring an action against Magnetude Jewelry with jurisdiction and venue as provided by Louisiana law. 16. Electronic Communication. An emailed copy of the Agreement shall be treated as an original in all respects. Emailed copies of this Magnetude Jewelry Representative Agreement shall be deemed an original. To be valid, copies submitted to Magnetude Jewelry by email must include the contract in its entirety.
17. Dispute Resolution. All disputes and claims relating to Magnetude Jewelry and its products, the rights and obligations of a Representative and Magnetude Jewelry, or any other claims or causes of action relating to the performance of either a Representative or Magnetude Jewelry under the Agreement or the Magnetude Jewelry Policies and Procedures shall be settled totally and finally by arbitration as enumerated in the Policies and Procedures in Orange County, California or such other location as Magnetude Jewelry prescribes, in accordance with the Federal Arbitration Act and the Commercial Arbitration Rules of the American Arbitration Association, except that all parties shall be entitled to discovery rights allowed under the Federal Rules of Civil Procedure. Additionally, you agree not to initiate or participate in any class action proceeding against Magnetude Jewelry, whether in a judicial or mediation or arbitration proceeding, and you waive all rights to become a member of any certified class in any lawsuit or proceeding. This agreement to arbitrate shall survive any termination or expiration of the Agreement. Nothing in the Agreement shall prevent Magnetude Jewelry from applying to and obtaining from any court having jurisdiction a writ of attachment, garnishment, temporary injunction, preliminary injunction, permanent injunction or other equitable relief available to safeguard and protect its interest prior to, during or following the filing of any arbitration or other proceeding or pending the rendition of a decision or award in connection with any arbitration or other proceeding. 18. Time Limitation. If a Representative wishes to bring an action against Magnetude Jewelry for any act or omission relating to or arising from the Agreement, such action must be brought within one year from the date of the alleged conduct giving rise to the cause of action. Representative waives all claims that any other statutes of limitations apply. 19. Miscellaneous. If any provision of the Agreement is held to be invalid or unenforceable, such provision shall be reformed only to the extent necessary to make it enforceable, and the balance of the Agreement will remain in full force and effect. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. The provisions of this Agreement, including all documents incorporated herein by reference, embody the whole agreement between you and Magnetude Jewelry and supersedes any prior agreements, understandings and obligations between you and Magnetude Jewelry concerning the subject matter of your contract with Magnetude Jewelry. 20. Montana residents: A Montana resident may cancel his or her Representative Agreement within 15 days from the date of enrollment and may return his or her starter kit for a full refund within such time period. Additionally, all Montana residents are entitled to a twelve-month refund on all unsold inventory and sales aids in the event of resignation or termination. 21. Notice of Right to Cancel. You may request a refund on your enrollment fee if it’s done within seven business days from the date of enrollment. If you cancel, any enrollment fees paid will be returned within TEN BUSINESS DAYS following receipt by the seller of your cancellation notice. To cancel this transaction, mail or deliver written notice, to Magnetude Jewelry 327 E.. Ridgeville rd, #311, Mt Airy, MD 21771, no later than midnight of the seventh business day following the date of this Agreement. 22. Submission of Electronic W-9. Under penalty of perjury, I certify that (1) the number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and (2), I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and (3) I am a U.S. Citizen or other U.S. person. By digital online submission you agree and understand the Magnetude Jewelry Representative Agreement.
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