Lucy Shair Foundation for Women in Finance
Grant Recipient Agreement
This GRANT RECIPIENT AGREEMENT (“Agreement”) is made by and between the LUCY SHAIR FOUNDATION FOR WOMEN IN FINANCE (LSFWF), a Michigan nonprofit corporation, and, (“Recipient”). In consideration of LSFWF providing funding for the (“Project”) in the amount of (“Funding”), you agree to the terms of this Agreement.
Introduction
This document specifies the Lucy Shair Foundation for Women in Finance (LSFWF) Grant Recipient Agreement (hereafter: “Agreement”).
Article 1 Definitions
In this Agreement, the following shall control:
LSFWF – The Lucy Shair Foundation for Women in Finance, a Michigan nonprofit corporation, tax-exempt as a public charity per Section 501(c)(3) of the Internal Revenue Code, with a registered office in Grand Rapids, MI.
LSFWF Grant Program – The program established by LSFWF with the purpose to distribute funding to women working in or entering the finance profession to support women's advancement in the industry while advancing LSFWF’s mission and benefiting the larger community.
Project – A specific venture or activity or purpose as described by the Recipient, and agreed upon by LSFWF, during the application process.
Funding – A specified sum of money provide by the LSFWF Grant Program for a Project.
Recipient – An individual selected by LSFWF to receive Funding.
Article 2 General
2.1 The Recipient shall receive this Agreement, via email, from LSFWF after the Recipient has been notified by LSFWF of its selection. The Recipient shall return the Agreement to LSFWF, signed by the Recipient within one (1) week from the date that the email was sent.
2.2 Upon LSFWF’s countersignature of this Agreement, this Agreement will be effective as of that date and the Recipient confirms to have read, understood and agreed to be bound by this Agreement.
LSFWF Grant Recipient Agreement
Article 3 Funding
3.1 The Recipient shall use the Funding solely for the Project as described in Recipient’s application. The amount of the Funding may be different from the amount for which the Recipient applied.
3.2 The Funding shall be paid via check, bank transfer or other similar form of payment mutually agreed upon by Recipient and LSFWF. No payments will be made in cash.
3.3 The Recipient is solely responsible for all tax payment liabilities and filing obligations in relation to the Funding.
3.4 The Recipient shall provide to LSFWF, as requested by LSFWF up to twice annually, a written report detailing the use of the Funding and shall ensure that all records relating to the Project and Funding are complete, accurate, and up to date. The grant Recipient is requested to include a copy of receipts, contracts and other documents detailing use of the Funding. These documents shall be retained by LSFWF for tax filing and documentation purposes.
3.5 The Recipient shall, as soon as reasonably practicable, notify LSFWF, in writing, of any material changes, disturbances or other unexpected circumstances in relation to the Project and/or the Funding.
3.6 LSFWF may cancel a grant award when, in its sole and absolute discretion, the Recipient’s performance or conduct fails to meet the objectives of the Project or the LSFWF Grant Program. In addition, LSFWF may take other corrective action as it sees fit and to enforce the terms of this Agreement. Each case of Funding under the LSFWF Grant Program is governed by the terms in this Agreement.
3.7 The grant Recipient confirms that, to the best of their knowledge, they are not considered a disqualified person defined and listed in IRC §4958(f) (including LSFWF directors, officers, managers, substantial donors, or any other person with authority to exercise substantial influence over the organization, as well as family members of these individuals and corporations owned at least 35% by these individuals, cumulatively), which would cause this grant to be considered a prohibited benefit.
Article 4 Publicity
4.1 The Recipient consents and agrees that LSFWF may publish information about the Recipient, including but not limited to Recipient's identity, and the Project and may make such information available on the LSFWF website and as part of any of LSFWF’s press releases, announcements, public reports, social media, speeches and/or newsletters.
4.2 The Recipient shall share their experiences in two (2) written reports including an explanation of how the Project performed in terms of the objectives laid out in the application, how funds were spent, outcomes, etc. Furthermore, recipients shall share Project results at least once within the first 10 months after receiving the Funding. This will be facilitated by LSFWF and may take the form of a short presentation, video interview, written statement to be shared via social media, newsletter, email blast and/or at the annual fundraiser.
4.3 The Recipient shall credit LSFWF when making public statements in relation to the Funding and the Project. LSFWF will provide recipient with logo and will be available to work with the recipient for any public statements, as needed.
Article 5 Privacy
5.1 LSFWF may collect, process, and share all data, including personal data, in relation to the LSFWF Grant Program in accordance with the LSFWF Privacy Statement.
Article 6 Liability
6.1 The Recipient must use the Funding and carry out the Project without violating applicable national and/or international laws and regulations. LSFWF is not liable for any such violations that may occur in relation to the Funding or the Project. Any such violation may result in immediate termination of Recipient and any Funding from the LSFWF Grant Program.
6.2 The Recipient shall indemnify, defend and hold LSFWF harmless against any and all third- party claims filed against LSFWF that may arise in relation to the Project, the Recipient's use of the Funding or to the Recipient's conduct in performance of its obligations under this Agreement, including but not limited to claims of infringement of intellectual property (i.e. patent, trademark, copyright, trade secret).
6.3 LSFWF shall not be liable for any damages due to a failure to meet any obligation under these terms and conditions.
6.4 NOTWITHSTANDING ANYTHING TO THE CONTRARY, LSFWF WILL N0T BE LIABLE TO THE RECIPIENT OR TO ANY THIRD PARTY, INCLUDING, WITHOUT LIMITATION, ANY CLIENTS OR CUSTOMERS OF RECIPIENT, FOR ANY LIABILITIES AT LAW OR IN EQUITY OR FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, CONSEQUENTIAL, INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY, OR SPECIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LIABILITIES OR DAMAGES RELATING TO LOST PROFITS, OR LOSS OF GOODWILL) ARISING OUT OF, RELATING TO, OR CONNECTED WITH THE LSFWF COMMUNITY GRANT PROGRAM, THE PROJECT OR RECIPIENT’S USE OF THE FUNDING WHETHER BASED ON CONTRACT, TORT OR ANY CAUSE OF ACTION, EVEN IF THE OTHER PARTY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
6.5 IN NO EVENT, WHETHER BASED ON CONTRACT, TORT, STATUTE, OR ANY CAUSE OF ACTION, WILL LSFWF’S LIABILITY TO THE RECIPIENT OR ANY THIRD PARTY, INCLUDING, WITHOUT LIMITATION, ANY CLIENTS OR CUSTOMERS OF RECIPIENT, EXCEED THE GREATER OF (i) THE AMOUNT OF THE FUNDING OR (ii) ONE HUNDRED U.S. DOLLARS (US$100.00).
Article 7 Miscellaneous
7.1 Amendment. No amendment of any provision of this Agreement shall be valid unless in writing and signed or authorized in writing by LSFWF, which writing specifically references such as an amendment to these terms and conditions.
7.2. No joint venture, partnership, employment, agency, or similar arrangement is created between the parties. Neither party has the right or power to act for or on behalf of the other or to bind the other in any respect other than as expressly provided for in this Agreement.
7.3 Without LSFWF’s prior written consent, the Recipient shall not be permitted to assign or transfer to third parties any rights or obligations that arise from this Agreement.
7.4 If any provision in this Agreement is held to be invalid in a court of law, this shall not in any way affect the validity of the remaining provisions. No waiver of any provision or consent to any action under this Agreement will constitute a waiver of any other provisions or consent to any other action, nor will such waiver or consent constitute a continuing waiver or consent or commit any party to provide past or future a waiver or consent.
7.5 This Agreement shall prevail over explanatory documents and any text regarding the LSFWF Community Grant Program, which exist for guidance and informational purposes only and do not affect the interpretation of this Agreement.
Article 8 Governing Law and Dispute Resolution
8.1 This Agreement shall be exclusively governed by the laws of the State of Michigan and, as applicable, the laws of the United States of America.
8.2 In the event of any dispute(s) regarding any term or condition or provision or performance or conduct arising out of or relating to this Agreement, the parties each agree to first seek resolution through cooperative settlement negotiations involving themselves or their representatives as they each deem appropriate; and, second, in the event cooperative settlement negotiations are not successful, or do not occur, within thirty (30) days after a party initiates such negotiations, the parties agree that upon the request of either party any unresolved dispute(s) shall be submitted to binding and final arbitration for resolution. Any such arbitration shall be held in Grand Rapids, MI or by agreement of both parties at any other location, in accordance with the rules of the American Arbitration Association (“AAA”) then in effect. A single arbitrator shall be selected by the parties by striking in turn from a list of arbitrators supplied by the AAA or, as applicable, the locally prevalent equivalent of AAA. Each party shall bear their own attorneys’ fees, and the initiating party shall initially bear the costs of the arbitration’s expenses. Any judgment upon the award rendered pursuant to the arbitration proceeding may be entered in any court having competent jurisdiction. Notwithstanding the foregoing in this Paragraph, either party may bring an action before the United States District Court or the Circuit Court for a temporary restraining order, preliminary injunction and/or other injunctive relief to seek to maintain the status quo between the parties pending resolution of the dispute(s) in accordance with the terms of this Paragraph.
Recipient hereby accepts, without modification, all of the terms and conditions of this Grant Recipient Agreement.
Full Name _________________________________________
Email _________________________________________
Title _________________________________________
Organization _________________________________________
Project Title _________________________________________
Grant Amount _________________________________________
Signature _________________________________________
Date _________________________________________
Acknowledged and Agreed:
LUCY SHAIR FOUNDATION FOR WOMEN IN FINANCE (LSFWF)
By: _________________________________________
Title: _________________________________________
Date: _________________________________________