Membership Production Contract

Membership Production Contract example This is a contract between Drailor North Peak Mining Corporations and Long foot mine which a member of the mining corporations - -

"MEMBERSHIP PRODUCTION CONTRACT

This Membership Production Contract (the "Contract") is made and entered into on December 24, 1105 by and between Drailor North Peak Mining Corporations, a Lonvania corporation with its principal place of business at Lot 15,436, State Lonvania (hereinafter referred to as "Corporation"), and Long Foot Mine, a Lonvania limited liability company with its principal place of business at Lot 456, State: Lonvania (hereinafter referred to as "Mine").

RECITALS

A. The Corporation is a leading provider of iron, coal, and oil to customers around the world.

B. The Mine is a highly respected and productive provider of iron, coal, and oil in the region.

C. The Corporation and the Mine wish to enter into a mutually beneficial relationship whereby the Mine will sell its iron, coal, and oil through the Corporation to the Corporation's customers, and the Corporation will provide marketing, distribution, and other support to the Mine.

AGREEMENT

In consideration of the mutual promises and covenants contained in this Contract, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and the Mine hereby agree as follows:

Term. This Contract shall commence on the date of execution and shall continue until terminated by either party upon 10 days' written notice.

Duties and Responsibilities.

(a) The Mine shall be responsible for producing and delivering iron, coal, and oil to the Corporation in accordance with the terms of this Contract.

(b) The Corporation shall be responsible for marketing and distributing the iron, coal, and oil produced by the Mine to the Corporation's customers.

(c) The Corporation shall provide the Mine with access to its marketing and distribution networks, as well as other support as mutually agreed upon by the parties.

Compensation. (a) The Corporation shall pay the Mine $568 per 100 pounds of coal.

(b) The Corporation shall pay the Mine $68 per 2 pounds of iron.

Intellectual Property. The Mine shall retain all intellectual property rights in and to the iron, coal, and oil produced by the Mine. The Corporation shall have the right to use the iron, coal, and oil for the purposes of marketing and distributing them to its customers.

Confidentiality. The parties shall keep the terms of this Contract confidential, except as required by law or as necessary to enforce their rights under this Contract.

Termination. Either party may terminate this Contract upon 30 days' written notice if the other party breaches any material term or condition of this Contract.

IN WITNESS WHEREOF, the parties have executed this Contract as of the date and year first above written.

Drailor North Peak Mining Corporations

Long Foot Mine"