Flight Crew Agreement
We believe that joining forces is the most powerful way to ignite great leaps forward. All Members of the Collective share in our success. Together we can go further.
TYPES OF MEMBERS
The Collective is made up of a diverse network of people who all contribute to and share in Future Cenrter Ventures’ success, including:
- Limited Partners (those who invest in our syndicate)
- Founders (those who lead our companies)
- Scouts (those who introduce us to founders)
- Partners (those who help in all kinds of other ways)
We earmark 5% of our carry (defined below) to be shared among our Collective. Everyone who contributes to Future Center Ventures mission (founders, investors, scouts, partners) becomes a Member of the Collective and participates in our shared success.
Membership in the Collective is reserved for those who contribute to Future Center Ventures collective success. Typically, this includes our Limited Partners, Scouts, Founders of portfolio companies, and other contributors. Future Center Ventures has sole discretion in deciding who gets membership and we reserve the right to add and remove Members as we see appropriate.
When Rapid Reasoning LLC (DBA Future Center Ventures) receives carry payouts, we will reserve and distribute 5% to be shared among all Members of the Collective (the “Carry”). Each Member’s share of the Carry will be determined based on their overall contribution. Future Center Ventures will do its best effort to calculate Members’ Carry fairly but will not be held responsible or liable for any perceived discrepancies. Members will only get a share of a disbursement if they’ve been a Member for at least 90 days.
This whole Collective membership and its benefits are being offered based on our best efforts but with no real legal obligation. We will absolutely act in best faith and are happy to work through any concerns with members but we don’t want to be held legally responsible for any concerns that arise from this offering. As such, to the fullest extent permitted by law, in no event will Future Center Ventures be responsible to you for any indirect, special consequential, exemplary, or punitive damages. This will be whether or not the Future Center Ventures warned of the possibility of such damages.
Members agree to defend, indemnify and hold harmless Rapid Reasoning LLC, its affiliates, licensors and service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses or fees (including reasonable attorneys’ fees) arising out of or relating to violation of this Agreement.