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4 Month Contract 7.26

4 Month Contract 7.26

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Published by: Kevin Douglas Johnson on Jul 27, 2012
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Lil Billboards 4 Month Contract
By accepting this internet contract LiL Billboards LLC and the proposed public location (asspecified in this internet form) are agreeing to the following terms as they will be described below fromthe time this contract is accepted to March 31
st
2013. We are s
cheduled to “go live” on December
1
st
,
thus the title “4
 
Month Contract”.
All starred items are further specified within the online form that thiscontract is in. In addition please refer to the videos within
the “Become a Location” tab for clarification
on unfamiliar terms and concepts.
Important Definitions:
Reel Time
: The amount of time it takes for the display to make a full rotation through all the video,photo, & audio files on it. This
“Reel Time” may range from 3 minutes to 30 minutes and will be
determined by LiL Billboards for each machine.
Tipping Point
: The amount of money in pre-orders that must be received in order to guarantee theregistered location will receive the respective LiL Billboard. This does not necessarily mean the dealwon
t go through if the tipping point is not reached, but in that circumstance it will be at the fulldiscretion of Lil Billboards.
Referral Cut
: The amount of money that a referrer of a location can look forward to when theequipment is installed in participating locations.
Lil Billboards LLC agrees to:
1.
 
Place their digital sign(s) at specified location agreed to by participating location(s) (as shown invideo tour*) for the entire duration of the contract for free as long as the respective sign
generates over the designated “
tipping point 
” in its pre
-order phase.2.
 
Determine the appropriate “
reel time
” for each digital sign as relative to functionality and
location.
3.
 
Allocate 50% of the digital sign
’s “reel time” to participating location for “personal use”
(Unlessotherwise specified*), as long as they do not sell this time or use this time to advertise otherbusinesses or business locations.
Promoting products that are sold from the participatinglocation is considered 
valid for “personal use.” 
 Advertising another business location you may own, even if it is under the same entity name, is not considered valid.
4.
 
Allocate 33.3% of the digital sign’s “reel time” for paid advertising unl
ess otherwise indicated inthe form*.
 
5.
 
Allocate 16.7% of the digital sign’s “reel time” for the use of Lil Billboards and other entities that
Lil Billboards may have financial or emotional interest in. If for any reason the time allocated for
“personal use” or “paid advertising”
is not used then that time will be allocated for this use.
6.
 
Consistently update prices to reflect optimum price point.
 
7.
 
Drive traffic to digital signs thereby helping to insure the highest equilibrium price and revenuefor participating location.8.
 
Place a 1
st
Filter on inappropriate ads as agreed to by the participating location*.9.
 
Forward all proposed ads after 1
st
filter is applied to participating location for acceptance orrefusal.10.
 
Service or replace digital sign in case of breakage that is determined to not be at the abuse ornegligence of the participating location.11.
 
Pay revenue forward to participating location in the following prescribed way.a.
 
The designated tipping point costs will be collected by LiL Billboards entirely until theyhave been met in full. For instance if the location registers for three signs with thetipping point cost of $200 each LiL Billboards will retain 100% of the first $600 of services rendered. (This is money that comes from advertisers, not participatinglocations! We do this to keep Tipping Point Costs low and thereby increase yourlikelihood of receiving your signs)b.
 
After the machine has been successfully installed and we have collected the tippingpoint costs we will
pay 40% of all revenue generated on location’s Lil Billboards to
participating location within the first 14 days of the month following the month that theservice was rendered. (This is after the ad has played, not when it was initiallypurchased).c.
 
We will increase the 40% of revenue shared with participating location to a 50%revenue share upon the condition that the registered participating location refers 2other participating locations to us who register for and successfully receive LiL Billboardsin their location. (See the Refer a Friend portion of the website for importantinstructions on how to qualify to receive this increased revenue share.)i.
 
Revenue is considered all monies received from purchasing
time
on theparticipating locations signs minus paypal or other transactional fees.12.
 
Give charitable donations as specified in part a and b in the form of 10% of the money thatcomes from the tipping point value for successfully installed Lil Billboards.a.
 
Reserve 10% of the tipping point value revenue generated from selling time on
participation location’s digital signs during the pre
-order phase before April 26
th
2012 forThe USU Huntsman Scholar Build a School in India Fundraiser. This is in connection with
the Charitable Organization “Effect International”.
 b.
 
Reserve 10% of revenue generated from selling time on participating location’s digital
signs prior to the tipping point being reached after April 26
th
2012 for a scholarship fundwith the college* specified by the participating location. This scholarship will be givento students for the 2013 spring and/or fall school semesters.
 
13.
 
In a case where it is not prudent to place a Lil Billboard due to insufficient pre-orders LilBillboards will refund monies
or credit (advertiser’s choice)
to advertisers. In this circumstance,the 10% charitable donation and the referral cut will not be recognized.
Participating Location agrees to:
1.
 
Keep the digital sign located in the agreed upon location (As shown in the Video Tour*) for theduration of the contract.2.
 
Keep the digital sign turned on during operation hours during the duration of the contract aswell as Sunday night and Monday morning for necessary updates.3.
 
Keep the digital sign connected to wifi internet at all hours of operation, Sunday nights, andMonday mornings. If it is impossible to keep it connected at all times ensure that it is connectedSunday nights and Monday mornings.4.
 
Exercise their right to reject or accept proposed advertisements at their digital signs. Thisprocess may be through email or integrated into the lilbillboards.com website. Ads uploaded forapproval will be sent to the participating location early Saturday morning. Failure to accept ordeny proposed ads before the following Monday at 12:01 A.M. will result in the automaticacceptance of them.5.
 
Pay tipping point price for a replacement if a digital sign is found to be damaged, broken, orstolen due to the locations negligence or abuse.6.
 
If a digital sign is stolen or damaged by a patron the participating location is expected to makereasonable attempts to ascertain the perpetrator and recover the digital sign.7.
 
Not place the digital signs in temperatures below freezing. Doing so will be considered neglect.8.
 
Be responsible for paying the energy costs associated with running the machine. This includesenergy fees from plugging the digital signs into the wall, charging the batteries for cordlessdigital signs, or purchasing batteries to replace ones in disposable-battery operated digital signs.This also includes any renovations the participating location may opt to do in preparation of receiving LiL Billboards.9.
 
After 2 months the business may exercise its right to request to renew its contract withLiLBiLLBoards for an additional 3
 –
6 months.10.
 
Affirms all information provided on the form with which this contract accompanies is true andaccurate. Reasonable suspicion of inaccurate foot traffic estimation* and untruthful reportingof who referred you to this website may result in revocation of this contract and litigation on thepart of advertisers or referrers hurt by negligent or untruthful information.
Other Important Contractual Details:
 
Launch Day is scheduled for December 1
st
2012. Installations of machines may begin as early asNovember 1
st
2012. If you are selected for a beta test, installations may begin as early as August1
st
2012. Beta test participants will be compensated with 40% of revenue generated from theBeta test digital sign(s) after they are installed.

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