Restaurant Memorandum of Agreement Template

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RESTAURANT MEMORANDUM OF AGREEMENT

BETWEEN

[Ribpublic]

AND

[Food Exchange Co.]

Parties

This RESTAURANT MEMORANDUM OF AGREEMENT (“Agreement”), is made and entered into on July 24, 2021, by and between William J. Botello (“Company Owner”) of [Ribpublic] (“Company”) and Leslie R. Reading of [Food Exchange Co.] (“Investor”), collectively the “Partners”.

WHEREAS, the Company is a restaurant business located at 176 Wright Court, Hamilton, Alabama 35570.

WHEREAS, the Company shall open a branch in California referred to as “Project”. Both parties agree to enter into this Agreement for the franchise of the Company.

The Investor has acknowledged investing for the Project. Such investment shall be ruled by the following terms and conditions:

Terms and Conditions

INVESTMENT

The Investor’s total investment amounts to $100,000.00 which shall be payable upon the signing of this Agreement. The amount shall be transferred to the Restaurant’s business account.

TERM

The investment shall be for a period of two (2) years and shall commence on July 24, 2021. The term shall be renewable but it is subject to the approval of the Company Owner.

DIVIDEND

The releasing of dividend shall be within seven (7) days after the end of each month. The Investor reserves the right to determine and assess the account details of the Project.

CUSTODIAN

The Investor has the right to assign the obligations under this Agreement to a Custodian which shall be subject to the approval of the Company Owner. The shares shall be issued under the name of the Custodian.

FEE

The Investor shall pay the Company Owner a total of $12,000.00 in respect to the Investor’s shares in conformity with the completion and management of the Project.

FINANCIAL STATEMENTS

The Company Owner shall prepare the Company’s financial records pursuant to this Agreement. The Company Owner shall present these documents to the Investor.

CONFIDENTIAL INFORMATION

The details of this Agreement shall be deemed confidential. Both parties have the obligation not to disclose this information to unauthorized parties.

ENTIRE AGREEMENT.

This Agreement contains the entire understanding of both parties and supersedes prior to any communication between the parties, both oral and written.