LETTER AGREEMENT

Dear Pedro’s Partner: Formatted: Indent: First line: 0"

By signing this Letter Agreement with Pedro’s Products (“Predro’s”), you are
entitled to participate in the Pedro’s Partner benefits pursuant to the following terms
of participation. You agree this Letter Agreement does not establish partnership
liability between you and Pedro’s under the partnership laws of any state. This letter
Moved down [1]: This letter constitutes the whole
agreement between you and Pedro’s Products (“Pedro’s”).
Moved (insertion) [1]

constitutes the whole agreement between you and Pedro’s. Deleted: Pedro’s Products (“
Deleted: ”).

In exchange for providing Pedro’s with at least $25,000 (the “Payment

Amount”), you will be entitled to purchase products from Pedro’s at the Authorized
Partner Rate. You agree the Payment Amount does not constitute capital or an
advance. Also, you agree that providing the Payment Amount does not create any
property interest in Pedro’s or Pedro’s assets.

The products you purchase from Pedro’s may be kept or resold by you Deleted: se

anywhere in the U.S., unless prohibited by law. Pedro’s is not involved in the resell
process. This agreement does not establish profit sharing for the resell products.
Pedro’s does not maintain any interest in the products after your purchase from
Pedro’s. Further, Pedro’s is not liable for any losses that may occur including losses
that ensue from the product resell process.

The Authorized Partner Rate is equal to the retail price shown for a product
on the Pedro’s website, reduced by the Partner Profit Share. The Partner Profit Share
equals 30% of Pedro’s retail profit. (Pedro’s retail profit is equal to the difference
between the price of the product, as listed on Pedro’s website, and Pedro’s cost for
that product.) For example, if a product is listed on Pedro’s Product’s website for a
retail price of $30, and Pedro’s costs is $10, then Pedro’s retail profit is $20. The
Partner Profit Share on $20 is $6 (which is 30% of $20). Therefore, Pedro’s Partners
would pay $24 for the product, rather than $30 for the product. All calculations of
Pedro’s retail profit and Partner Profit Share shall be done by Pedro’s in Pedro’s sole
and absolute discretion. Further, you acknowledge this agreement does not create
any management rights in the Partners. All management decisions are reserved to
Pedro in his sole and absolute discretion.
 The cost of any product purchased from Pedro’s website will be deducted Formatted: Keep with next, Keep lines together

from the Payment Amount. The Payment Amount may be increased by you at any
time, but it must always exceed the amount of any products you purchase from Deleted: time
Pedro’s website. If the Payment Amount is ever less than $10,000, the amount must
be increased to $25,000, or you will not receive the Partner Profit Share.
Furthermore, the Payment is NON-REFUNDABLE. It may be applied to purchases
from Pedro’s website, but it may never be repaid. Should Pedro’s cease to exist or
Pedro in his sole and absolute discretion chooses to terminate this program you agree
Pedro is not liable for the Payment Amount. Deleted: ¶

Pedro’s will also provide you with Business cards identifying you as one of Formatted: Keep with next, Keep lines together

Pedro’s Partners. The business cards affiliate you with Pedro’s as part of the program
but do not establish an agency relationship. This agreement does not grant you
authority either actual or apparent to act on Pedro’s behalf.

Deleted: ¶

[Other provisions in the Letter Agreement omitted from the excerpt include
rights, requirements, reporting, and termination provisions.]

Miscellaneous Provisions:

If any provision in this Agreement is held by a court of competent jurisdiction

to be invalid, void or unenforceable, the remaining provisions shall still continue in
full force without being impaired or invalidated in any way. This Agreement
constitutes the entire agreement between you and Pedro’s and may not be released,
discharged, changed or modified except by an instrument in writing, signed by both
you and Pedro’s. A waiver of, or failure to enforce any provision contained in this
Agreement on any occasion shall not be deemed to be a continuing waiver or a
waiver on any other occasion. Pedro’s may terminate this Agreement or your Pedro’s
Partner status for any reason upon 30 days’ notice to you, or at any time, with or
without notice, for any conduct that Pedro’s in its sole discretion believes violates
this Agreement, or is harmful to another buyer, third-party, or Pedro’s interests. You
agree to comply with any and all applicable laws and regulations and shall indemnify
and hold Pedro’s harmless for any failure, on your part, to do so.
 Welcome! I am so glad you are partnering with us, and we are excited to call Formatted: Keep with next, Keep lines together

you one of Pedro’s Partners.

Pedro,

Pedro’s Products, Owner

I HAVE REVIEWED THE ABOVE LETTER AGREEMENT AND

UNDERSTAND AND AGREE TO ALL OF ITS TERMS AND CONDITIONS.

By:____________________ Date: ________________

[PRINT NAME], Pedro’s Partner

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