Blockchain Partnership Agreement

This Blockchain Partnership Agreement (known as the “Agreement”) is entered into on (Enter date) (known as the “Effective Date”) by and between [PartyA.FirstName][PartyA.LastName] from [PartyA.Company] and [PartyB.FirstName][PartyB.LastName] from [PartyB.Company] (collectively known as the “Parties”).

Purpose of the Blockchain Partnership

The Parties agree to collaborate in developing, implementing, and utilizing blockchain technology for (Enter specific purposes).

Place of Business

The primary office of the Blockchain Partnership shall be located at (Enter business address) or conducted virtually as agreed to by the Parties.

Duration and Termination

The partnership will commence on the Effective Date and continue until terminated by mutual agreement or due to a breach of this Agreement.

Termination shall not affect existing obligations and intellectual property rights.

Responsibilities

Each party shall contribute expertise, resources, and effort as mutually agreed upon and outlined in Addendum A – Description of roles and responsibilities.

Responsibilities for the design, development, and maintenance of the blockchain solution will be clearly defined in Addendum A – Description of roles and responsibilities.

Profits and Losses

The profits and losses incurred as a result of the Blockchain Partnership shall be equally divided by the Parties at the end of each calendar year.

Ownership and Intellectual Property

All intellectual property (IP) developed during the partnership and related to blockchain technology shall be jointly owned, with usage rights granted to each party.

Any third-party technology integrated will be subject to the terms and conditions of its respective owners.

Admitting a New Partner

Parties may admit a new Party to the Blockchain Partnership with a majority vote of existing Parties via an addendum to this agreement. The new Party shall be committed to all covenants, terms, and conditions of this Agreement.

Confidentiality

The Parties commit to maintaining the confidentiality of all proprietary information shared during the partnership.

Confidential information includes but is not limited to code, algorithms, and business strategies.

Governance

Decision-making shall be collaborative, with major decisions requiring mutual agreement in writing.

A steering committee will be established, composed of representatives from each Party. The steering committee members, designations, and contact information will be outlined in Addendum B – Steering Committee.

Data Security and Privacy

The Parties shall adhere to industry best practices for data security and privacy.

Compliance with any applicable data protection laws and regulations is mandatory.

Dispute Resolution

Disputes shall be resolved amicably through negotiations and, if necessary, mediation.

In the event of unresolved disputes, arbitration by (Enter arbitration rules) shall be pursued.

Withdrawal/Death of a Partner

If a Party withdraws from the Blockchain Partnership for any reason, including death or retirement, the remaining Parties may continue to operate the Blockchain Partnership under the same name and legal documents. In the event of withdrawal, 60 days of written notice to other Parties is required.

The withdrawing Party must give the other remaining Parties the first right of refusal to purchase his ownership interest in the Blockchain Partnership. In the event of the death of a Party, all funds owed to the deceased Party shall be transferred to the designee of the deceased Party’s choosing as listed in the Will and Trust.

Involuntary Withdrawal

A Party may be involuntarily removed from the Blockchain Partnership if they exhibit mental incapacity, incur a disability that impacts the Party’s ability to perform competently in the Partnership, breach fiduciary duties, or are convicted of a serious crime such as a felony. All remaining Parties must unanimously approve the removal of another Party involuntarily.

Governing Laws

This agreement shall be governed by and construed in accordance with the laws of (Enter state).

Amendments

Any amendments to this Agreement must be in writing, mutually agreed upon, and signed by both Parties.

Appendix

Please see the list of appendices to this Agreement:

• Addendum A – Description of roles and responsibilities

• Addendum B – Steering committee

Entire Agreement

This Agreement makes up the entire agreement between the parties regarding this blockchain partnership. This takes precedence over all other negotiations, agreements, and understandings between the parties.

In WITNESS WHEREOF, the Parties hereto have executed this Blockchain Partnership Agreement as of the Effective Date.