24/7 AI - MOU - Addendum:

Please review the Memorandum of Understanding Addendum below.

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Memorandum of Understanding Addendum: BETWEEN 24/7 Education, Inc. 105 West 125th St - Front 1 #1221, New York, NY, 10027, United States 646-751-8901 - Operating under the trade name "24/7 Teach", hereinafter referred to as "24/7 Teach.” And [Potential Equity Holder] Name and contact information listed above - Hereinafter referred to as "Partner." PURPOSE This Memorandum of Understanding (MOU) is intended to outline the mutual interests and intent of the undersigned parties to enter into an equity relationship concerning 24/7 AI Inc., hereinafter referred to as "New Company." The primary purpose of this MOU is to establish a preliminary framework and set forth the intentions of the parties to collaborate on the finalization of the New Company’s formal corporate structure and equity formation strategy. This understanding will enable the New Company to continue the development of its innovative products and services, ensuring that the future formal equity agreement aligns with the business objectives and growth trajectory. OBJECTIVES The objectives of this MOU are to: a. Clarify the intentions of the parties to share in the equity of the New Company upon completion of formal corporate structuring. b. Establish a preliminary understanding of the roles, responsibilities, and expectations of each equity holder, promoting transparency and mutual respect. c. Define the strategic goals and anticipated contributions of each party towards the development and success of the New Company. d. Ensure that all parties are committed to the continuous progress of product and service development during the negotiation and structuring phase. e. Lay the foundation for a formal equity agreement that is equitable, sustainable, and reflective of the contributions of each party. ROLES AND RESPONSIBILITIES a. Partner shall: I. Support in the development and refinement of the New Company’s corporate structure and equity distribution plan. ii. Participate in the negotiation process among all prospective equity holders. iii. Continue to oversee the development and enhancement of the New Company's products and services. iv. Provide regular updates to all parties on the progress of the New Company’s corporate structuring and product development. b. Partner shall: i. Contribute to the strategic planning of the Company’s growth and service offerings. ii. Participate actively in discussions and negotiations regarding equity distribution and corporate governance. c. Partner shall: i. Offer insights and expertise relevant to their respective fields to advance the Company’s market position. ii. Support the due diligence process required for the establishment of a formal equity structure. iii. Engage in promoting the Company's vision and securing potential partnerships or funding opportunities. GENERAL TERMS a. This MOU is not legally binding and does not constitute a formal partnership or joint venture. b. The MOU serves as an expression of intent only and does not grant any equity or ownership rights in and of itself. c. The parties agree that the terms of the future formal equity agreements will be negotiated in good faith based on the Company's valuation and each party’s contributions. d. Confidentiality is paramount; all parties commit to non-disclosure of proprietary information unless agreed upon in writing. e. This MOU shall remain in effect until superseded by a formal equity agreement or a written agreement signed by all parties to terminate it.

I, ______________________, have reviewed, understood, and agreed to the information and Memorandum of Understanding agreement below.

By adding your name below, you are adding your electronic signature, which is the legal equivalent of your manual signature on the Memorandum of Understanding Addendum below.

(FOR PARTNERS 18 YEARS OLD OR YOUNGER)

I, ______________________, parent/guardian of ___________________________, have reviewed, understood, and agreed to the below information. By adding your name and the name of your minor or the minor you represent below, you are adding your electronic signature, which is the legal equivalent of your manual signature on this Memorandum of Understanding Addendum. (FOR TEAM MEMBERS 18 OR YOUNGER)

Memorandum of Understanding Addendum: Printable Version

BETWEEN

24/7 Education, Inc.

105 West 125th St - Front 1 #1221, New York, NY, 10027, United States
Ph: 646-751-8901
- Operating under the trade name "24/7 Teach", hereinafter referred to as "24/7 Teach.”

And

[Potential Equity Holder]: __________________________________________________

[Contact Information]

__________________________________________________
__________________________________________________
__________________________________________________
- Hereinafter referred to as "Partner."

PURPOSE

This Memorandum of Understanding (MOU) is intended to outline the mutual interests and intent of the undersigned parties to enter into an equity relationship concerning 24/7 AI Inc., hereinafter referred to as "New Company.” The primary purpose of this MOU is to establish a preliminary framework and set forth the intentions of the parties to collaborate on the finalization of the New Company’s formal corporate structure and equity formation strategy. This understanding will enable the New Company to continue the development of its innovative products and services, ensuring that the future formal equity agreement aligns with the business objectives and growth trajectory.

OBJECTIVES

The objectives of this MOU are to:

a. Clarify the intentions of the parties to share in the equity of the New Company upon completion of formal corporate structuring.

b. Establish a preliminary understanding of the roles, responsibilities, and expectations of each equity holder, promoting transparency and mutual respect.

c. Define the strategic goals and anticipated contributions of each party towards the development and success of the New Company.

d. Ensure that all parties are committed to the continuous progress of product and service development during the negotiation and structuring phase.

e. Lay the foundation for a formal equity agreement that is equitable, sustainable, and reflective of the contributions of each party.

ROLES AND RESPONSIBILITIES

a. Partner shall:

I. Support in the development and refinement of the New Company’s corporate structure and equity distribution plan.

ii. Participate in the negotiation process among all prospective equity holders.

iii. Continue to oversee the development and enhancement of the New Company's products and services.

iv. Provide regular updates to all parties on the progress of the New Company’s corporate structuring and product development.

b. Partner shall:

i. Contribute to the strategic planning of the Company’s growth and service offerings.

ii. Participate actively in discussions and negotiations regarding equity distribution and corporate governance.

c. Partner shall:

i. Offer insights and expertise relevant to their respective fields to advance the Company’s market position.

ii. Support the due diligence process required for the establishment of a formal equity structure.

iii. Engage in promoting the Company's vision and securing potential partnerships or funding opportunities.

GENERAL TERMS

a. This MOU is not legally binding and does not constitute a formal partnership or joint venture.

b. The MOU serves as an expression of intent only and does not grant any equity or ownership rights in and of itself.

c. The parties agree that the terms of the future formal equity agreements will be negotiated in good faith based on the Company's valuation and each party’s contributions.

d. Confidentiality is paramount; all parties commit to non-disclosure of proprietary information unless agreed upon in writing.

e. This MOU shall remain in effect until superseded by a formal equity agreement or a written agreement signed by all parties to terminate it.

24/7 AI - MOU - Addendum:

Please review the Memorandum of Understanding Addendum below.

Memorandum of Understanding Addendum: Printable Version

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