Free Subcontract Agreement Template
Subcontract Agreement
I. Introduction
This Subcontract Agreement (“Agreement”) is entered into as of 20th December, 2050, by and between:
-
[Your Company Name], a corporation organized and existing under the laws of the State of Colorado, with its principal place of business located at [Your Company Address], represented by [Your Name], Chief Executive Officer (hereinafter referred to as "Contractor" or "Party A"); and
-
TurboNow, a company organized and existing under the laws of the State of Alaska, with its principal place of business located at Anchorage, AK 99501, represented by Ronaldo Glynn, Chief Operating Officer (hereinafter referred to as "Subcontractor" or "Party B").
WHEREAS, the Contractor desires to retain the Subcontractor to provide certain services as part of a larger project, and the Subcontractor agrees to perform those services under the terms of this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein, the parties agree as follows:
II. Scope of Work
1. Description of Services
The Subcontractor agrees to perform the following services (the “Services”) as part of the overall project managed by the Contractor:
-
Providing technical support and system maintenance services.
-
Performing software integration and troubleshooting.
-
Assisting with database management and server optimization.
-
Additional services as directed by the Contractor in writing from time to time.
2. Deliverables
Subcontractor will deliver the following:
-
Detailed technical reports on system performance and troubleshooting actions.
-
Updated software versions and installation packages.
-
Documentation for all completed tasks and integration steps.
3. Timeline
Subcontractor agrees to begin performance of the Services on 20th December, 2050, and complete the Services by 20th June, 2051, unless extended by written agreement from both parties.
III. Compensation
1. Payment
Contractor agrees to pay the Subcontractor a total fee of $12,000 for the completion of the Services outlined in this Agreement. Payments will be made as follows:
-
$6,000 upon execution of this Agreement, to be paid on 20th December, 2050.
-
$6,000 upon successful completion and delivery of all Services on 20th June, 2051.
2. Payment Method
Payments will be made via bank transfer to the following account details:
-
Bank Name: Alaska Bank
-
Account Number: 5678901234
-
Routing Number: 123456789
The Subcontractor will provide invoices for each payment milestone.
3. Late Payments
If any payment is not made on time, a 5% late fee will be applied for every 10-day period of delay.
IV. Independent Contractor Status
1. Relationship of the Parties
It is agreed that the Subcontractor is an independent contractor and not an employee of the Contractor. The Subcontractor shall not be entitled to any benefits provided by the Contractor to its employees. The Subcontractor has no authority to bind the Contractor or act on behalf of the Contractor.
2. Taxes
The Subcontractor acknowledges and agrees to pay all applicable federal, state, and local taxes, including self-employment and income taxes, that arise from the compensation paid to the Subcontractor under this Agreement.
3. Insurance
The Subcontractor is responsible for maintaining all required insurance policies, including but not limited to liability insurance, workers’ compensation, and health insurance.
V. Confidentiality
1. Confidential Information
Subcontractor agrees to maintain the confidentiality of all proprietary and confidential information disclosed by the Contractor during the course of this Agreement. This includes, but is not limited to, business plans, customer data, financial information, and any materials deemed confidential by the Contractor.
2. Non-Disclosure
Subcontractor shall not disclose any confidential information to third parties or use such information for purposes other than the performance of this Agreement.
3. Return of Property
Upon termination of this Agreement or completion of the Services, Subcontractor agrees to return all property belonging to the Contractor, including documents, equipment, and any other items related to the Services.
VI. Termination
1. Termination by the Contractor
The Contractor may terminate this Agreement at any time, with or without cause, by providing seven (7) days' written notice to the Subcontractor. In the event of termination, the Subcontractor will be paid for all Services rendered up to the termination date.
2. Termination by the Subcontractor
The Subcontractor may terminate this Agreement by providing seven (7) days' written notice to the Contractor. In the event of termination by the Subcontractor, the Subcontractor will be paid for all Services rendered up to the termination date.
3. Effect of Termination
Upon termination of this Agreement, the Subcontractor shall cease all work, return all materials to the Contractor, and submit any outstanding invoices for Services performed.
VII. Ownership and Intellectual Property
1. Work Product
Any work product, including designs, software, documentation, and any deliverables created during the term of this Agreement, will be the sole property of the Contractor. The Subcontractor agrees to assign all intellectual property rights in the work created during the course of this Agreement to the Contractor.
2. Assignment of Rights
The Subcontractor agrees to assist the Contractor in securing intellectual property rights for any work created under this Agreement and to take all necessary actions to protect the Contractor’s ownership interests.
VIII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to its conflict of law principles. Any disputes arising from this Agreement shall be resolved in the courts located in [Your Company Address], Colorado.
IX. Miscellaneous
1. Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes all prior oral or written agreements relating to the subject matter of this Agreement.
2. Amendments
This Agreement may only be amended by a written instrument executed by both parties.
3. Severability
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
X. Signatures
IN WITNESS WHEREOF, the parties have executed this Subcontract Agreement as of the date first written above.
[Your Company Name]
[Your Name], Chief Executive Officer
Date: 20th December, 2050
TurboNow
Ronaldo Glynn, Chief Operating Officer
Date: 20th December, 2050
For any inquiries regarding this Agreement, please contact [Your Name] at [Your Email] or [Your Company Name] at [Your Company Email].