PayZero® Inc. Money Purchase Agreement
Introduction
(“Agreement”) on this Date _______________________. between You, ___________________________, (“The Donor”), and PayZero Incorporated (“Company”).
This Agreement memorializes certain compensation payable to The Investor/Donor in connection with The Investor/Donor’s deposits made to The Investor/Donor from PayZero’s Brokerage Account (hereinafter known as by PayZero, Inc., a Georgia Corporation, for the purpose of establishing Profit Share/Money Purchase Partnership (hereinafter known as “PSMPP”) with you, The Investor/Donor.
By entering into this Profit Share/Money Purchase Agreement (“Agreement”) with PayZero® Inc., you agree to the terms and conditions outlined herein. This Agreement governs the money purchase transaction initiated by depositing funds ranging from $25,000 to $100,000 or more into an investment portfolio managed by PayZero® Inc.
This Agreement is based on The Investor/Donor providing, and/or continuing to provide, Deposits from their personal and/or business account into the PayZero Inc. brokerage account. PayZero, Inc. will use the pledge to create a hedge/margin at no risk to the investor/Donor. Pledged capital will be used to distribute payments in the form of a Money Purchase to the Investor/Donor.
Deposit and Return
Upon depositing the funds into the investment portfolio, the depositor shall receive 75% of the principal amount within a 45-day period. This innovative concept shifts the majority of financial risk from the investor to PayZero® Inc.
PayZero, Inc. will create a hedge/margin and once the hedge is created will immediately return Seventy Five Percent (75%) of the Pledged dollars to your account after 45 days and then provide you with: A Simple benefit of 2.0% paid monthly based on the returned 100% value. (48 months)
Objective
The primary objective of this transaction is to secure a fixed monthly payout over a predetermined period. Specifically, the depositor aims to receive 2% of the initial deposit amount for 48 months starting from the date of deposit.
WHEREAS, You, The Investor/Donor, will be entitled to receive:
Posted Pledges returned
Based on the amount of money you Pledge/deposit into your PSMPP, Margin is created by the brokerage account enabling the ability to return 75% your pledge deposit in a forty-five-day (45) period. 25% is kept as Origination fees for the PSMPP.
Equity compensation
The amount of your “PSMPP” equity compensation over a period to a maximum of 48 months is equal to a rate of 2% per month and is credited from the proceeds of the performance of the brokerage account
Current and future cash amounts you Pledge to your PayZero Account (PIA) will mature at the end of 48 months and can be renewed by election from the Investor/Donor after the 12th month of the most recently deposited investment or donation.
WHEREAS, For the avoidance of doubt, the foregoing does not grant you any management, control, or other rights with respect to the functionality of the “PSMPP”.
You and the “PSMPP” granted hereunder shall be subject to the provisions of the Profit Share/Money Purchase agreement and any other document or arrangement which govern the terms of the “PSMPP”.
WHEREAS, your entitlement to Equity Payments shall cease immediately upon the completion of your 48th payment from PayZero. Or whether by voluntary resignation, involuntary termination (with or without cause), death, disability, or otherwise for any reason.
Withholding; Repayments; Tax Treatment.
PayZero makes no representation (and shall not be liable to you) as to the tax treatment of payments made hereunder under applicable tax laws.
Notwithstanding anything herein to the contrary, you agree to repay PayZero any amount paid to you in excess of what you should have received under the terms of this Agreement for any reason (including without limitation by reason of:
(i) a mistake in calculation or
(ii) other administrative error.
Assignment; Designation of Beneficiaries:
Except as set forth in this Section 4, the rights and benefits hereunder shall not be assignable or transferable, and any purported transfer, sale, assignment, pledge, or other encumbrance or disposition or attachment of any payments or benefits hereunder other than by operation of law shall not be permitted or recognized.
(i) PayZero, Inc. may assign this agreement to its affiliates; provided that no such assignment shall affect in any way the benefits to you or PayZero contemplated by this Agreement.
(ii) You agree to take any such actions and to execute any such documents as PayZero may reasonably request in order to further implement and evidence any such assignment.
(iii) You may, with the consent of PayZero, designate in writing, on forms prescribed by and filed with PayZero, one or more beneficiaries to receive any payments payable after your death and may at any time amend or revoke any such designation; provided that if you designate a person other than your spouse as a beneficiary, your spouse must sign a statement specifically approving such designation.
(iv) Any payments to which you would be entitled by virtue of this Agreement while alive will be paid, following your death, to the designated beneficiary.
(v) If no beneficiary designation is in effect at the time of death, or in the absence of a spouse’s approval as hereinabove provided, payments to which you are entitled hereunder shall be made to your Estate. (Provisions: Death Certificate Validation)
Governing Law.
This Agreement shall be construed and enforced, along with any rights, remedies, or obligations provided for hereunder, in accordance with the laws of the State of Georgia applicable to contracts made and to be performed entirely within the State of Georgia.
Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
PAYZERO, INC.
If you have any questions or require further clarification regarding this Agreement, please contact our Customer Service Department at 1-833-321-9376.