Company: Worca, Inc., a Delaware corporation, with its principal place of business at 1631 Electric Ave, Venice, CA 90291, referred to as the "Company."
Referral Partner (Partner): The entity or individual specified in the Engagement Letter (defined below), acknowledged by their signature. This party is referred to as the "Referral Partner" throughout this Agreement.
Parties: Collectively refers to the "Company" and the "Referral Partner" as stipulated and defined in this Agreement. Individually, each shall be designated as a "Party."
Agreement: This document, inclusive of all clauses, stipulations, annexures, and addendums, referred to as the "Agreement" or "Terms of Service," outlines the conditions and understandings between the Company and the Referral Partner.
Engagement Letter: The preliminary written agreement executed between the Parties, delineating essential aspects of the contemplated relationship, including but not limited to the Referral Partner's legal name, principal place of business, authorized signatory, and referral-specific terms. By executing the Engagement Letter, the Referral Partner expressly acknowledges and consents to be bound by the comprehensive terms contained within this Agreement.
Referred Client: A company or organization introduced to the Company by the Referral Partner that enters into a paying agreement with the Company.
Referral Fee: Compensation due to the Referral Partner upon successful conversion of a Referred Client into a paying Client, as outlined in this Agreement and detailed in the Engagement Letter.
Gross Profit: The net revenue earned by the Company from a Referred Client during the first 12 months of engagement, calculated as gross sales (contract revenue) minus direct costs, including but not limited to:
- Salaries or compensation paid to contractors, freelancers, or employees delivering services to the Referred Client.
- Taxes, insurance premiums, and other employment-related costs directly attributable to those salaries.
- Any additional direct expenses outlined in the Engagement Letter.The detailed calculation method for Gross Profit, if it deviates from this standard definition, will be specified in the Engagement Letter.