Veres One Accelerator Agreement Overview
The Veres One Accelerator Agreement is designed to ensure that a healthy ecosystem of active Accelerators exist for the Veres One Network and that all participants critical to the operation of the Network are properly funded. Learn more about the Accelerators here.
There are a number of goals that the Accelerator Agreement is designed to achieve:
- The Accelerator is a self-directed organization that is granted the limited privilege to rapidly create and update DID Documents by the Veres One Project Board of Governors.
- Accelerators that destabilize the network are easily detected and their write access to the network is revoked.
- Accelerators are able to make a profit from the services they provide as long as minimum fees and percentages set by the Veres One Project Board of Governors are passed on to the Veres One Project for the purposes of funding Network operations.
- Communication between the Board of Governors and the Accelerators must be done publicly, with minor exceptions when dealing with extremely sensitive security or legal issues.
Veres One Accelerator Agreement
This Veres One Accelerator Agreement (this "Agreement") is made effective as of __________________________________ (the "Effective Date"), by and between The Veres One Project (the "Veres One Project"), of __________________________________ , and __________________________________ (the "Accelerator"), of __________________________________.
DESCRIPTION OF SERVICES
Beginning on ________________________________ (the "Effective Date"), the Accelerator will provide the following services (collectively, the "Services"):
The acceleration of Decentralized Identifier Document creation and modification and the collection of Network fees on behalf of the Veres One Project.
PAYMENT OF NETWORK FEES
The Accelerator compensates the Veres One Project in the amount described under Network Fees for Services provided to their customers. Payments will be made electronically as follows:
Minimum Network fees will be set on a yearly basis by the Veres One Project Board of Governors. The Accelerator must to collect these fees from customers and pay the fees to the Veres One Project on a monthly basis via ACH Transfer, Wire Transfer, or PayPal Transfer.
No other fees and/or expenses will be paid to the Veres One Project, unless such fees and/or expenses have been approved in advance by the appropriate executive on behalf of the Accelerator in writing. The Accelerator shall be solely responsible for any and all taxes, Social Security contributions or payments, disability insurance, unemployment taxes, and other payroll type taxes applicable to collecting and forwarding the fees to the Veres One Project.
Termination of this agreement will occur as follows:
This agreement will terminate after a month of the Accelerator no longer holding a valid Accelerator credential as provided by the Veres One Project.
A regular, ongoing relationship of indefinite term is contemplated. The Veres One Project has no right to assign services to the Accelerator other than as specifically contemplated by this Agreement. However, the parties may mutually agree that the Accelerator shall perform other services for the Veres One Project, pursuant to the terms of this Agreement.
RELATIONSHIP OF PARTIES
It is understood by the parties that the Accelerator is an independent contractor with respect to the Veres One Project, and not an employee of the Veres One Project. The Veres One Project will not provide fringe benefits, including health insurance benefits, paid vacation, or any other employee benefit, for the benefit of the Accelerator.
It is contemplated that the relationship between the Veres one Project and the Accelerator shall be a non-exclusive one. The Accelerator also performs services for other organizations and/or individuals. The Veres One Project has no right to further inquire into the Accelerators's other activities.
The Veres One Project has no right or power to control or otherwise interfere with the Accelerator's mode of effecting performance under this Agreement. The Accelerator's only concern is the accurate collection of fees as outlined in this Agreement, and not the means of accomplishing it. Except in extraordinary circumstances and when necessary, the Accelerator shall perform the Services without direct supervision by the Veres One Project.
The Accelerator is a professional who uses its own professional and business methods to perform services. The Accelerator has not and will not receive training from the Veres One Project regarding how to perform the Services.
PERSONAL SERVICES NOT REQUIRED
The Accelerator is not required to render the Services personally and may employ others to perform the Services on behalf of the Veres One Project without the Veres One Project's knowledge or consent. If the Accelerator has assistants, it is the Accelerators's responsibility to hire them and to provide materials for them.
NO LOCATION ON PREMISES
The Accelerator has no desk or other equipment either located at or furnished by the Veres One Project. Except to the extent that the Accelerator works in a territory as defined by the Veres One Project, its services are not integrated into the mainstream of the Veres One Project's business.
NO SET WORK HOURS
The Accelerator has no set hours of work. There is no requirement that the Accelerator work full time or otherwise account for work hours.
EXPENSES PAID BY THE ACCELERATOR
The Accelerator's business and travel expenses are to be paid by the Accelerator and not by the Recipient.
NO RIGHT TO ACT AS AGENT
An "employer-employee" or "principal-agent" relationship is not created merely because (1) the Veres One Project has or retains the right to supervise or inspect the work as it progresses in order to ensure compliance with the terms of the contract or (2) the Veres One Project has or retains the right to revoke the Accelerator's credentials on the Network and thus it's limited ability to rapidly effect changes on the network if it is in violation of this Agreement. The Accelerator has no right to act as an agent for the Veres One Project and has an obligation to notify any involved parties that it is not an agent of the Veres One Project.
This Agreement constitutes the entire contract between the parties. All terms and conditions contained in any other writings previously executed by the parties regarding the matters contemplated herein shall be deemed to be merged herein and superseded hereby. No modification of this Agreement shall be deemed effective unless in writing and signed by the parties hereto.
WAIVER OF BREACH
The waiver by the Veres One Project of a breach of any provision of this Agreement by the Accelerator shall not operate or be construed as a waiver of any subsequent breach by the Accelerator.
If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
This Agreement shall be governed by the laws of the Commonwealth of Virginia.
This Agreement shall be signed on behalf of the Veres One Project by __________________________________ , Chairperson of the Board of Governors and on behalf of the Accelerator by __________________________________ , __________________________________
and effective as of the date first above written.
Member, Board of Governors, The Veres One Project
_____________________, The Accelerator