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GMICC DRAFT MOU (Memo of Understanding)


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This is a DRAFT version of the MOU members will be required to sign to finalize their membership into the GMICC.

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GMICC DRAFT MOU (Memo of Understanding)

  1. 1. KENDRICK ADVISORY & ADVOCACY GROUP, LLC * P.O. BOX 630, LITHONIA, GA 30058 T (404) 919-0660 U WWW.DARSHUNKENDRICK.COM Kendrick Advisory & Advocacy Group, LLC Memorandum of Understanding (MOU) To: _________________________________ <Print full name> From: KAAG, C/O Dar’shun Kendrick Effective Date: July 26th, 2019 This is a legally binding Memorandum of Understanding (MOU) between Kendrick Advisory & Advocacy Group, LLC (KAAG), hereinafter “Company”, and _____________________ <print full name>, hereinafter “Member” for the Georgia Minority Investment Cannabis Collaborative (“GMICC”). In consideration thereof, both parties agree to perform the following obligations in exchange for consideration for services of the above-mentioned initiative: Obligations of Company With respect to the above-mentioned initiatives, the Company hereby promises the following: • What will KAAG do? 1) Set up the LLC and trust account 2) Draft the operating agreement (agreement amongst members) 3) Provide updates on the law, regulations, resources to collaborate, investment opportunities and events 4) Answer any questions on potential investment *Remember you can only invest in one (1) licensee per the law. • What will KAAG NOT do? ➢ Advise on the current underlying law and regulations ➢ Control any part of your Trust account---I will only set up ➢ Draft any other paperwork besides LLC operating agreement ➢ Make any investments on your behalf or advise on any specific investments (to stay compliance with federal law) ➢ Be investing in LLC (due to “Peake provision” in the law that bans current and former state legislators) • NOTE: Understand that the timeline that has been suggested previously is just a suggested timeline and subject to change based on the needs of the Commission and the needs of the project.
  2. 2. 2 Obligations of Member With respect to the above-mentioned initiative, the Member hereby promises the following before Company is obligated to perform any above-mentioned responsibilities: • Fully complete this MOU and send to Company before July 26th, 2019. • Pay the amount of $500.00 to “Kendrick Advisory & Advocacy Group, LLC” before July 26th, 2019. • Pay any and all costs and other expenses approved by a majority of the LLC members within fourteen (14) days of approval. • Communicate fully and in a timely manner with Company and its employees, affiliates, independent contractors or partners, particularly with respects to financial background information • Participate fully in all activities that are scheduled by Company at least fourteen (14) days in advance / / / / Agreed to this ___________ day of ______________________, 2019. _________________________________________ Dar’shun Kendrick, Chief Business Strategist Kendrick Advisory & Advocacy Group, LLC (404) 919-0660 ___________________________________________ (Your Signature) Your Name __________________________________________________ Mailing Address ________________________________________________ ___________________________________________________ Phone Number ________________________________________ Email ___________________________________________________