X.X. NAK Exclusive Simmons Agreement
It is agreed that the Xxxxxxx Mattress Company and X.X. Nak
Mattress will enter into an exclusive Simmons only bedding program
beginning September 1, 1999.
TERMS AND CONDITIONS OF THIS AGREEMENT:
(1) Simmons will be the sole provider of all bedding products for
each X.X. Nak Mattress location and every additional X.X.. Nak
Mattress Gallery.
(2) Minimum of 30 sets of Xxxxxxx bedding on display at each
X.X. Nak Mattress location.
(3) Geographical locations for the sale of Simmons products at
future X.X. Nak Galleries, must be agreed upon by both Simmons
and X.X. Nak Mattress.
(4) Simmons will accrue 10% of net sales as co-op finds for
advertising. (Net sales are defined as: gross sales minus
terms, returns and sales from as-is goods, over-stock goods
and promotional goods). Advertising claims are paid in full
by X.X. Nak Mattress. X.X. Nak Mattress then attaches
supporting documents ( tare sheets and or scripts from
broadcast media) to the original advertising invoice and
submits this to Xxxxxxx. Xxxxxxx then pays 50% of the invoice
based on sufficient funds accrued in co-op account.
(5) Simmons will provide point of purchase sales displays for each
and every future mattress location.
(6) Simmons will provide comprehensive and on going sales training
for management and sales associates.
(7) Simmons will assist in developing consistent and forecasted
advertising campaigns.
(8) This agreement is subject to review and termination at any
time. Violation of the above terms would result in the
termination of this agreement.
Signed: Xxxx Xxxxxx Signed: X.X. Nak Mattress
Simmons Regional Sales Manager
Sales Lake City
