Office Sharing Agreement: Definition & Sample

An office sharing agreement (OSA) allows two or more parties who share similar goals and values to work together under one roof—literally! The idea behind these agreements is that entrepreneurs will be able to find better opportunities for collaboration and ideas by working near like-minded individuals. In addition, an office sharing agreement allows all parties involved to understand what sharing an office space will look like.

Many business owners know that the cost of renting an office space is expensive. With a rise in popularity, coworking spaces have popped up to help small businesses find a much more affordable option without sacrificing amenities and services.

Common Sections in Office Sharing Agreements

Below is a list of common sections included in Office Sharing Agreements. These sections are linked to the below sample agreement for you to explore.

Office Sharing Agreement Sample

OFFICE COST SHARING AGREEMENT

This Office Cost Sharing Agreement (the “ Agreement “) entered into effective as of September 22, 2020 (the “ Effective Date ”), is by and between The OZ Corporation, a California corporation (“ OZC ”) and Bakhu Holdings, Corp., a Nevada corporation (“ Bakhu ”).

A. Whereas, OZC is the lessee of office space located at One World Trade Center, Suite 130, Long Beach, CA 90831 (the “ Premises ”) comprised of a foyer-reception area, secured server room, kitchen, four private offices and two open internal cubical spaces.

B. Whereas, OZC is a principal shareholder of Bakhu, and pursuant to that certain Efficacy Demonstration Laboratory Agreement dated June 10, 2020 entered into by and between OZC and Bakhu, OZC has undertaken on behalf of Bakhu and is providing financial, technical, and management resources in furtherance of the completion of efficacy demonstration requirements under that certain Amended and Restated Patent and Technology License Agreement dated December 31, 2019 (the “ Restated License ”) between Cell Science Holdings Ltd., a Cypress corporation (“ Licensor ”) and Bakhu as the “ Licensee ”.

C. Whereas, OZC provides office space, equipment, telephone and internet service, utilities answer services and support staff (i) to Bus Dev Centre, Inc. and its principal Donald Clark who provides advisory and consulting services through OZC on behalf of Bakhu in furtherance of the efficacy demonstration, and Bakhu’s anticipated sublicensing efforts, and (ii) to Thomas K. Emmitt the President and CEO of Bakhu, and for Bakhu’s accounting staff.

D. Whereas, this Agreements memorializes the agreement between Bakhu and OZC with regard to Bakhu’s sharing of the costs and expenses associated with the Premises, and other matters associated with an office sharing arrangement.

NOW THEREFORE, in consideration of the mutual promises and benefits to be derived by the parties, they do hereby agree to the following:

1. Allocation and Payment of Office Costs and Expense. In consideration of the shared use of the Premises, including with limitation, the office space, equipment, telephone and internet service, utilities, answer services and support staff, provided by OZC to and on behalf of Bakhu as set forth above, Bakhu shall pay to OZC the aggregate sum of $34,000 per month (the “ Shared Office Cost ”), on the first day of each month, for so long as OZC provides Bakhu with shared used of the Premises. In addition, Bakhu agrees to pay and reimburse OZC, for any additional rent, utilities and expenses incurred by OZC, the percentage of which shall be equal to the quotient obtained by dividing (i) the monthly Shared Office Cost paid by Bakhu by (ii) the total monthly cost incurred and paid by OZC for the Premises, office space, equipment, telephone and internet service, utilities, support staff and related cost and expenses.

2. Parking Allocation . Any parking spaces included as part of OZC lease of the Premises shall be allocated for use by OZC and Bakhu as they shall agree.

3. Furniture and Equipment . Other than personal furniture, equipment and computers of OZC or Bakhu’s personnel, OZC will own all office furniture and equipment. However, OZC and Bakhu shall share the cost and expense on a 50/50 basis to maintain, repair and/or replace any said furniture and equipment.

4. Receptionist . Bakhu’s use of the receptionist and office staff shall be included in the monthly Shared Office Cost paid by Bakhu as set forth in Section 1.

5. Internet, Phone System and Equipment . Bakhu’s use of the internet, phone services and equipment shall be included in the monthly Shared Office Cost paid by Bakhu as set forth in Section 1.

6. Kitchen . All parties shall have equal access and use of the kitchen keeping in mind and respecting each party’s personal food items. The Parties shall maintain the Kitchen area in a professional and clean manner.

7. Building Access Key Cards . Building and office keys and access cards required for Bakhu’s personnel shall be included in the monthly Shared Office Cost paid by Bakhu as set forth in Section 1.

8. Signage . If Bakhu elects, and the landlord approves of separate signage on the entry doors, reception area and any building placards, Bakhu shall bear the sole cost of any such signage.

9. Mail b ox . Bakhu’s use of mailbox servicing the Premises shall be included in the monthly Shared Office Cost paid by Bakhu as set forth in Section 1.

10. Insurance . The parties shall carry their own liability and personal property insurance.

11. Governing Law; Venue . This Agreement is being executed and delivered, and is intended to be performed, in the State of California, and to the extent permitted by law, the execution, validity, construction, and performance of this Agreement shall be construed and enforced in accordance with the laws of the State of California without giving effect to conflict of law principles. This Agreement shall be deemed made and entered into in Los Angeles County, State of California and venue for any Proceeding as defined below, in connection with this Agreement shall be in Los Angeles County, California.

12. Waiver of Jury Trial . To the fullest extent permitted by applicable law, the Parties hereto hereby voluntarily and irrevocably waives trial by jury in any Proceeding brought in connection with this Agreement, any of the related agreements and documents, or any of the transactions contemplated hereby or thereby. For purposes of this Agreement, “Proceeding” includes any threatened, pending, or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened, or completed proceeding, whether brought by or in the right of any party or otherwise and whether civil, criminal, administrative, or investigative, in which a Party was, is, or will be involved as a party or otherwise.

13. Assignment . This Agreement shall be binding upon the parties and their respective successors and assigns. Neither party may assign this Agreement or any of its rights or obligations hereunder without the prior written consent of the other party.

14. Counterparts; Electronic Signature . This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile, portable document format (.pdf), DocuSign or other electronic transmission shall be equally as effective as delivery of a manually executed counterpart of this Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date first above written.

The OZ Corporation

By: John R. Munoz

Its: President and CEO

BAKHU Holdings, Corp.

By: Thomas K. Emmitt

Its: President and CEO

Reference:
Security Exchange Commission - Edgar Database, EX-10.5 6 bakh_ex10z5.htm OFFICE COST SHARING AGREEMENT, Viewed January 27, 2022, View Source on SEC.

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Meet some of our Office Sharing Agreement Lawyers

Ryenne S.

Ryenne S.

My name is Ryenne Shaw and I help business owners build businesses that operate as assets instead of liabilities, increase in value over time and build wealth. My areas of expertise include corporate formation and business structure, contract law, employment/labor law, business risk and compliance and intellectual property. I also serve as outside general counsel to several businesses across various industries nationally. I spent most of my early legal career assisting C.E.O.s, General Counsel, and in-house legal counsel of both large and smaller corporations in minimizing liability, protecting business assets and maximizing profits. While working with many of these entities, I realized that smaller entities are often underserved. I saw that smaller business owners weren’t receiving the same level of legal support larger corporations relied upon to grow and sustain. I knew this was a major contributor to the ceiling that most small businesses hit before they’ve even scratched the surface of their potential. And I knew at that moment that all of this lack of knowledge and support was creating a huge wealth gap. After over ten years of legal experience, I started my law firm to provide the legal support small to mid-sized business owners and entrepreneurs need to grow and protect their brands, businesses, and assets. I have a passion for helping small to mid-sized businesses and startups grow into wealth-building assets by leveraging the same legal strategies large corporations have used for years to create real wealth. I enjoy connecting with my clients, learning about their visions and identifying ways to protect and maximize the reach, value and impact of their businesses. I am a strong legal writer with extensive litigation experience, including both federal and state (and administratively), which brings another element to every contract I prepare and the overall counsel and value I provide. Some of my recent projects include: - Negotiating & Drafting Commercial Lease Agreements - Drafting Trademark Licensing Agreements - Drafting Ambassador and Influencer Agreements - Drafting Collaboration Agreements - Drafting Service Agreements for service-providers, coaches and consultants - Drafting Master Service Agreements and SOWs - Drafting Terms of Service and Privacy Policies - Preparing policies and procedures for businesses in highly regulated industries - Drafting Employee Handbooks, Standard Operations and Procedures (SOPs) manuals, employment agreements - Creating Employer-employee infrastructure to ensure business compliance with employment and labor laws - Drafting Independent Contractor Agreements and Non-Disclosure/Non-Competition/Non-Solicitation Agreements - Conducting Federal Trademark Searches and filing trademark applications - Preparing Trademark Opinion Letters after conducting appropriate legal research - Drafting Letters of Opinion for Small Business Loans - Drafting and Responding to Cease and Desist Letters I service clients throughout the United States across a broad range of industries.