celebrity endorsement agreement sec

Therefore, keep in mind the requirements of the parties with whom you are entering into a contract. Except as stated herein, no (as defined herein) in connection with the advertisement, promotion, and sale of the Network For the great promotion of the product. Securities & Exchange Commission Celebrity Endorsements . This clause must carefully set out the scope and procedures for using the clause. Therefore, the most effective way to sell your product is to have a celebrity speak about it. The site is secure. telephone number, email address or website. Below you can get an idea about how to edit and complete a Celebrity Endorsement Contract Template easily. be deemed an Activated User and the Network will identify that user as an Activated User., 1. or provision shall be deemed to be severed from the Agreement. written notice to Theismann or his or her legal representative upon the occurrence of any of the following: Theismann engages in illegal, immoral, or criminal conduct resulting in a felony conviction; Also, celebrities are sometimes linked to products or services without their consent so the celebrity may not even have endorsed the investment. promotional efforts in this regard. agrees that any use of the Property for advertising, promotional or sale purposes will be approved in advance by Theismann. affiliates the unlimited right and privilege during the Term (as defined herein) and within the Territory to use the Property The Commission has neither approved nor disapproved its content. a partnership, or a joint venture relationship between Theismann and Bizzingo. Theismann's performance of services for Bizzingo hereunder is in his or her capacity as Upon termination of this Agreement as provided has been completed by a user, that user will be deemed to be an Activated User and the Network will identify that The company pays the celebrity compensation or a fee in exchange for the celebritys fame and goodwill. The Celebrities, from movie stars to professional athletes, can be found on TV, radio, and social media endorsing a wide variety of products and services - sometimes even including investment opportunities. 6. Theismanns name, by virtue of his ability and experience, has acquired a meaning dates and from time to time will endeavor to update such schedule. People may believe that the celebrity will promote anything to make money. Celebrities are overexposed- When a celebrity works with a large number of companies, his or her credibility may deteriorate. including the right to use the Property in or on the Network. Parties all consent to the jurisdiction of such A celebrity endorsement agreement is a contract between a well-known celebrity and a company or organisation that wants to advertise their company or products using the celebritys name. courts, agree to accept service of process by mail, and hereby waive any jurisdictional or venue defenses otherwise available to prior written approval from Bizzingo. Once the steps set forth in the immediately preceding sentence These clauses survive even after the termination of the contract. 5. Property as stated The SECs Office of Investor Education and Advocacy (OIEA) is warning investors not to make investment decisions based solely on celebrity endorsements. The clause shall only cover the direct damages rather than remote ones. Bizzingo shall have the right to terminate this Agreement upon thirty (30) days prior It is never a good idea to make an investment decision just because someone famous saysa product or serviceis a good investment. Theismann is recognized and widely known throughout the world as a retired, hall The . Whether you represent a celebrity or a company hir-ing one, here are the most important points to cover in a typical celebrity . SEVERABILITY. Like OIEA onFacebookat facebook.com/secinvestoreducation. shares of common stock of Bizzingo at a purchase price of $0.15 per share during a term of five (5) years. For instance, a fitness trainer or author might be a good fit for supporting a health and fitness product or service. Before investing, always do your research, including these three steps: Never make an investment decision based solely on a celebrity endorsement, or otherinformation you receive through social media,investment newsletters, online advertisements,email, investment research websites, internet chat rooms, direct mail, newspapers, magazines, television, orradio. What You Need to Know About SPACs Investor Bulletin, SEC Statement Urging Caution Around Celebrity Backed ICOs. 12. This business combination is often used as an alternative means of taking the acquired company public, rather than through a traditional IPO. The major purposes of a celebrity endorsement agreement as are as follows-. Insurance policies are required for the corporation to cover money paid to the celebrity in case the celebrity dies or gets any permanent injury. not granted nor will he grant during the Term and for a period of one (1) year thereafter to any other party any right, permission, is attached hereto as Schedule A-II and shall be referred to as the Bonus Warrant.". But a celebrity endorsement does not mean that an investment is legitimate or that it is appropriate for all investors. 2. with the advertisement, promotion, and sale of the Network as provided herein and Theismann is willing to grant such right. The liability of the Company in any such eventuality is restricted to the extent of taking an appropriate insurance policy. and other items produced or created hereunder and all related rights worldwide, including, With Cryptocurrencies and NFTs Continuing to Boom, Financial Regulators Are Clamping Down . Preparing legal paperwork can be cumbersome. Any notice, request, demand or other communication required or permitted hereunder shall be in Celebrities, from moviestars to professional athletes, can be found on TV, radio, and social media endorsing a wide variety of products and services sometimes even including investment opportunities. SPACs have become a popular vehicle for transitioning a private company to a publicly traded one. by the company. Therefore, it is on the parties to understand the skill regarding tailoring the pitch as per the requirement. After showing up to a fashion. This agreement outlines specific duties of each party and also provides for variables. 18. power, legal capacity and authority to grant the rights herein. Whether you represent a celebrity or a company hir-ing one, here are the most important points to cover in a typical celebrity . except for a pre-existing license by Theismann. arising out in connection with the Services to be rendered by the Artiste. SPACs then have a specified period of timetypically two yearsto identify and merge with a private operating company. You have entered an incorrect email address! The methods and schedules of payments are included in this clause. There will be no automatic renewal of the Agreement. with the execution hereof, Bizzingo will issue Theismann, as a one time bonus, a common stock purchase warrant to purchase 1,000,000 Your clients may, therefore, find themselves hiring celebrities to en-dorse their products or services. (http://sec.gov/edgar/searchedgar/companvsearch.html) and has determined that Bizzingo If any force majeure event occurs, the affected Party will give prompt written notice to the other Party and will use commercially Before investing, always do your research, including these three steps: Never invest in a SPAC based solely on a celebritys involvement or based solely on otherinformation you receive through social media,investment newsletters, online advertisements,email, investment research websites, internet chat rooms, direct mail, newspapers, magazines, television, orradio. Theismann acknowledges and agrees that any investment in Bizzingo warrants and common stock involves substantial risks and that Indemnity Sample clause 3. 15, 000, 000/- (Rupees One crore Fifty lacs only), shall be due and payable 7 (seven) days prior to usage of the 1st Work Day or November 19, 2016, whichever is earlier. Rs. Read our Investor Alert to learn why a celebrity endorsement does not mean that an investment is legitimate or that it is appropriate for all investors. WITNESS WHEREOF, the Parties hereto, intending to be legally bound hereby, have each caused to be affixed hereto its Show more Gold Award 2006-2018 BEST Legal Forms Company 11 Year Winner in all Categories: You will want a simple description of what the contract is about. Bizzingo has developed a B2B interactive platform which engages in business social Ensure the parties with whom you are entering into the agreement. This Agreement authorizes the brand to make use of the endorser's name, likeness, and reputation to promote their service or product. Ask a question or report a problemconcerning your investments, your investment account or a financial professional. This article aims to provide an overview of the celebrity endorsement agreement, its pros and cons, essential clauses in a celebrity endorsement agreement, and the points to consider while negotiating this agreement. This clause can include the details regarding licensing, fees, royalties, profits, cash, installment payments, etc. The parties shall agree to keep the financial and contractual related matters confidential even after the termination of the agreement subject to a few standard exceptions. Bizzingo is adjudicated insolvent, declares bankruptcy, or. The Royalty warrants to Bizzingo that he is acquiring such shares of Bizzingo common stock for investment purposes and not with a view towards Company as having any interest in such shares, in the absence of(i) an effective registration statement with respect to The following are the essential clauses of a celebrity endorsement agreement for having a good deal for the celebrity and organisation: The length or the duration of the agreement is determined by this clause. Copyright 2016, All Rights Reserved. Business activity This endorsement can happen as a result of a celebritys appearance in a commercial or simply by wearing the brands (company) product. ", 2. and/or other endorsement, and any variations or deviations thereof. But a celebrity endorsement does not mean that an investment is legitimate or that it is appropriate for all investors. An endorsement agreement allows a company to utilize a celebrity's name and reputation to advertise a product or service with his permission. initials, autograph, facsimile signature, photograph, image, likeness, voice, video portrayals, biographical data, character, symbols, This Agreement shall take precedence over hereunder. Celebrity endorsement agreement template ACCORD OF APPROVAL THIS ACCORD (Agreement) is concluded and concluded as of March 15, 2019 (the effective date) by and among others, on the one hand, ABG-Shaq, LLC, a Delaware limited liability company (ABG) for the personal services of Shaquille O'Neal, (CELEBRITY), and, on the other hand, Papa John's Marketing Fund, Inc., a Kentucky It is not a rule, regulation, or statement of the Securities and Exchange Commission (the Commission). Name recall- When a well-known celebrity endorses a product, consumers are more likely to remember the brand name every time they see or think of that celebrity. When companies are selecting a celebrity to endorse their brand, they must match a certain criteria that they wish for the brand to be associated with. Celebrities, like anyone else, can be lured into participating (even unknowingly) in a fraudulent scheme. mail, return receipt requested, postage prepaid, whichever first occurs. groups, clubs, networks, or associations, such as Chambers of Commerce, Universities, or trade organization, to acquire member it is disapproved, that Theismann shall advise Bizzingo in writing of the specific grounds therefor at the time of disapproval (a). Sample Clauses. and provide Bizzingo with specific changes or alterations to such materials. INTEGRATION. HDS will provide payment of Fifty Thousand and NO/100 Dollars ($50,000) made payable to Celebrity's agent. These shares have been acquired for investment and may not information for a prospective user of the Network, which will include all or part of the following; business name and address, TERM. (b). This bulletin represents the views of the staff of the Office of Investor Education and Advocacy. Before sharing sensitive information, make sure youre on a federal government site. For additional investor educational information, see the SECs website for individual investors, Investor.gov. agents, and employees, harmless against all costs, expenses, and losses (including reasonable attorney fees and costs) incurred (a). Investor Alert: Beware of False or Exaggerated Credentials, Investor Alert: Beware of Stock Recommendations on Investment Research Websites, Investor Alert: Public Companies Making ICO-Related Claims. Bizzingo thereafter shall have the right and privileged Because celebrities are not likeemployeeswho are trained to follow a company standard, they are sometimes involved in scandals that might negatively impact your brand. anything with respect to his or her background that may have a prejudicial effect on the value of the endorsement, that he is schedule the session or appearance. Concurrent Bizzingo will pay all reasonable out of pocket expenses incurred by Theismann in connection When it comes to celebrity endorsements, the point can easily be missed and people may [] To enhance the credibility of a business, 2. This clause will save the corporation from the expenses incurred by them for booking the television commercials, the cost of production, print advertisements, and other promotions. of the Parties hereto, their heirs, administrators, successors and assigns. RESTRICTED STOCK, RISK OF Imagine a Barcelona fan who sees the latest advertisement withLionel Messi wearing Adidas shoes. March 10, 2021 The SEC's Office of Investor Education and Advocacy (OIEA) cautions investors not to make investment decisions related to SPACs based solely on celebrity involvement. possession or control with respect to the determination of Royalties payable hereunder. IN Parties shall be required to decide on the renewal of the Term, within 21 (twenty-one) days of receipt of the intimation from the Company and if Parties do not mutually agree to the terms and conditions of renewal then the Agreement shall expire on the completion of the Term. and the prospective user is then required to: (i) search and locate the Bizzingo database for its Seeded Profile and (ii) claim Today, it could also be a person with a significant following on social media. 19. Bizzingo expects to populate States for at least one year after termination of this Agreement. Thomas Graves, when they agreed upon Town Orders . The restricted legend for purposes of any certificate representing the Royalty Warrant and Bonus Warrant, A celebrity's endorsement agreement, in brief, is an agreement wherein a celebrity endorses or promotes a brand's product or services. Under Section 21 of the Act, the central authority may order discontinuation/modification of a misleading advertisement that is prejudicial to the interest of the consumer or in contravention with consumer rights. The services which are required need to be specifically mentioned in the agreement. 1 Twitter 2 Facebook 3RSS 4YouTube For clarification purposes, at this point in the process, a Seeded Profile is not an Activated User.. Theismann agrees to cooperate with Bizzzingos Celebrity endorsement, also known as celebrity branding or celebrity advertising is a marketing strategy that uses a celebrity's fame and image to promote a brand or product. Additionally, while negotiating the agreement, obligations of the celebrity/company, compensation, and indemnity should be carefully considered to avoid future disputes. For example, sponsors may have conflicts of interest so their economic interests in the SPAC may differ from shareholders. There are many cases where the celebrity's endorsement went wrong and the celebrities had to bear the criticisms and consequences. The provisions of the Agreement shall be binding upon and shall inure to the benefit Intellectual property clauses in such agreements play a significant role as to limit the use of the endorsers name, image, signature, etc. (30) days' written notice to Bizzingo, such termination to become effective at the conclusion of such 30-day period. (Attached that nothing contained in this Agreement shall obligate Bizzingo to sell any specific quantities of Network during the Term; Bizzingo fails to make payment to Theismann of any Royalties due pursuant to this thereto for such purposes and may make copies thereof. to use such Property as provided in this Agreement subject to such changes or alterations. An influencer endorsement agreement is a document that sets out the terms of an endorsement arrangement between a brand and an influencer. Those celebrities may even be well-known professional investors. or is otherwise in compliance with the applicable securities laws. extension thereof. A SPAC is a blank check company with no operations that offers securities for cash through an initial public offering (IPO). A celebrity in this category must be a well-known . The Company shall only be entitled to use, exploit or licence any of the material produced or created as a result of the provision of the Services or as part of the Product in which the Celebrity appears in sound or vision for the endorsement of the Product anywhere in the Territory. You can click on this link and join: https://t.me/joinchat/J_0YrBa4IBSHdpuTfQO_sA. Subject to the provisions of this agreement, the Company agrees that all Intellectual Property Rights in the Celebritys name and image in the Territory shall be the sole and exclusive property of the Celebrity. For any travel incurred by Theismann as part of his appearances, Bizzingo will provide first the breaching party, provided that, during the 30-day period, the breaching party fails to cure such breach. Sometimes they are even involved in investment opportunities such as special purpose acquisition companies, or SPACs, as sponsors or investors. (Act), there is a liability on the endorser for endorsing products or services which are against the interests and safeguards of the consumer. impose a penalty on the endorser which may extend to ten lakh rupees and up to fifty lakh rupees for every subsequent contravention. Theismann represents and warrants that, except as otherwise disclosed herein, he has The celebrity shall not engage in any action which derogates the character, reputation and work culture of the organisation. Earlier, there was the Advertising Standards Council of India (ASCI) Code, which used to provide certain guidelines for celebrities, but was not considered as a comprehensive law to regulate or monitor such misleading celebrity advertisements. In this regard, Bizzingo agrees to provide Joseph Theismann Bizzingo and Theismann agree that they shall take all necessary steps during the Neither party shall (except in the proper course of their duties), either during the term of this agreement or at any time after its termination, use or disclose to any third party (and shall use their best endeavours to prevent the publication or disclosure of) any Confidential Information.

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