HomeMy WebLinkAboutPROFIT SHARING CONTRACTUAL AGREEMENT_FP and COLEPROFIT SHARING CONTRACTUAL AGREEMENT
PARTIES
This Contractual Agreement (hereinafter referred to as the “Agreement”) is entered into on
August 1, 2024 (the “Effective Date”), by and between Frias Presents, with an address of 219 E.
Washington Ave Santa Ana, CA 92701 (hereinafter referred to as the “Promoter”) and City of
Lake Elsinore with an address of 130 South Main Street Lake Elsinore, CA 92530 (hereinafter
referred to as the “City”) (collectively referred to as the “Parties”).
TERM
This Agreement is valid from the day of its signing until October 7, 2024.
PROFIT SHARING
The Parties hereby agree that the City is entitled to 50 % of the event profits. This is based on the
direct result of the City allowing the Promoter to produce events at the Lake Elsinore Diamond
Stadium on the following days with the respective artists:
• August 24, 2024 featuring Primavera, Adictiva and Cuisillos
• September 21, 2024 featuring Mariachi Festival
• October 6, 2024 featuring Dos Carnales
Lake Elsinore Diamond Stadium will be provided rent free and City will partake in profits
The Parties further agree that profits are calculated as follows:
• Revenue minus Expenses. Expenses will any items related to producing the item
which will include Artist fees, audio and video production, advertising, security,
ushers, seating, fencing, urinals and sanitation, trash collection, cashiers, box
office, concessions, event staff labor, insurance and any other production related
expenses.
RESPONSIBILITIES
The Parties agree that the City will provide a clean and usable event venue on the dates listed
above.
The Parties agree that the City will provide a special event ABC permit to allow for alcoholic
beverages to be served at the events listed above.
The Parties agree the Promoter will secure event artists and related production items to produce
the events listed above.
RELATIONSHIP OF THE PARTIES
The Parties agree that the relationship between them will be as independent contractors.
CONFIDENTIALITY
During the Term and for a period of 1 years thereafter, the City agrees to maintain in confidence
all the Promoter’s information disclosed that is identified as, or acknowledged to be, confidential
at the time of disclosure (the “Confidential Information”), and shall not use, disclose or grant the
use of the Confidential Information.
EFFECT OF TERMINATION
The Parties agree the term shall be valid until October 7, 2024.
AMENDMENTS
The Parties agree that any amendments made to this Agreement must be in writing where they
must be signed by both Parties to this Agreement.
As such, any amendments made by the Parties will be applied to this Agreement.
SEVERABILITY
In an event where a provision of this Agreement is found to be void and/or unenforceable by a
court of competent jurisdiction, then the provisions remaining will continue to be enforced.
DISPUTE RESOLUTION
Any dispute and/or difference arising out of or related to this Agreement will be submitted to
Arbitration according to, and subject to the laws of California.
GOVERNING LAW
The Agreement will be governed by and construed according to the laws of
California.
ENTIRE AGREEMENT
The Agreement is complete and with respect to the subject matter herein, supersedes all and any
prior agreements, understandings, and conditions, expressed or implied, written or oral, of any
nature with respect to the subject matter herein.
The expressed terms control and supersede any course of performance and/or usage of the trade
inconsistent with any of the terms herein.
SIGNATURE AND DATE
The Parties hereby agree to the terms and conditions set forth in this Agreement and such is
demonstrated throughout their signatures below:
Frias Presents LLC City of Lake Elsinore
Name: _____________________ Name: ______________________
By: ________________________ By: _________________________
Date: ______________________ Date: _______________________