In the following agreement – TruFit is the company TruFit LLC and FASTER is the company Faster Health and Fitness Ltd registered in Colorado.
By Purchasing this product, both FASTER and TruFit agree to the following –
1 – FASTER will develop a DNA for TruFit Education
2 – Once the DNA is agreed to, FASTER will use its current resources and be responsible for further resource development to build an initial trial course
3 – FASTER will put the course material on to the IDEA Fit website and work with Ravi for some quick wins on sales
4 – FASTER will produce a live lesson plan that will meet ACE, NASM and NSCA standards for CEC’s and CEU’s
5 – FASTER will produce a quiz and online lectures to the standard that will meet ACE, NASM and NSCA standards
6 – TRUFIT will ensure registration of these courses
7 – Once the course is up to a standard agreed to by TRUFIT and FASTER, the course will be launched. Both TRUFIT and FASTER will participate in marketing this course
8 – FASTER will build a team of live tutors and use globally with the course for live training. It is important that we agree on these tutors so that we can then develop live local champions to sell courses. TRUFIT will sign off on these trainers as well.
9 – When ready to launch, then we will review on 12 weeks the next stages of the roll out and course development if required.
10 – If at the end of the 12 weeks we decide to terminate, then the course will be removed from the IDEA site and TRUFIT can continue to build out courses without FASTER. The IP of the course material will be FASTER owned, if written by FASTER.
11 – Revenue (profit after agreed costs for live and revenue straight from IDEA online) will be split 50-50
12 – The content of the courses, specifically produced by FASTER will remain the IP of FASTER
13 – The equipment will remain the IP of TruFit
14 – FASTER will set-up and maintain a facebook group similar to ‘we love our core momentum trainer’ with TruFit contributing and holding a position of Group Administrator. If the agreement ends, then the group will be turned over to TruFit to continue.
15 – Product development and future sales directly from FASTER or upselling of FASTER courses from the TruFit links and associated % commission to be discussed
16 – FASTER and TRUFIT agree to put a more formal agreement together during the 12 weeks of the launch of the course as to solidify the relationship.
17 – The agreement can be modified by email and written letter as long as both TRUFIT and Faster are in agreement with the modifications.