Bravatek Solutions Inc (BVTK)

[FEARANDGREED]

Cobweb Security Ltd (“Cobweb Security”), an Israeli corporation....

8-K https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12429103

On December 13, 2017, Bravatek Solutions, Inc. (the “Company”) entered into a Strategic Alliance Agreement with Cobweb Security Ltd (“Cobweb Security”), an Israeli corporation engaged in providing website security for small and medium businesses as well as for hosting companies, designating the Company as Cobweb Security’s project-based business partnership channel for small and medium businesses and hosting companies for the purpose of promoting Cobweb Security’s products and services, and pursuant to which Cobweb Security will cross-promote the Company’s products and services, and the Company will be paid sales commissions in the range of 15%-20% of project revenue for clients introduced by Bravatek and registered with Cobweb Security via its system, and delivered through the Company or a Cobweb Security-designated distribution affiliate or sales channel.


This agreement is made and entered into this 12 December, 2017 by and between Bravatek Solutions, Inc., a corporation organized under the laws of the State of Colorado, ("Bravatek"), with an address at 2028 E. Ben White Blvd., Unit #240-2835, Austin, Texas 78741 and Cobweb-Security, a corporation organized under the laws of the State of ISRAEL, with an address at HaMasger 4, Nesher.



Whereas, Bravatek is a corporation, which has technical expertise in security-related software, tools and systems/services (including telecom services) to support, deploy and test its current and potential customers’ most critical initiatives.



Whereas, Cobweb-Security is a corporation engaged in the business of providing Website security for small and medium businesses as well as for hosting companies (VPS type servers) to increase the protection of a website by giving the clients the tools to monitor, protect and clean their websites.



Whereas, the parties desire to enter into a business relationship which will designate Bravatek as the project based business partnership channel for small and medium businesses and hosting companies for the purpose of promoting Cobweb-Security’s relevant capabilities, products and/or service solutions. Now therefore, the parties mutually agree to enter into a strategic alliance under the following terms and conditions:



1) Duties of Cobweb-Security

Bravatek agrees to serve as a non-exclusive project sales lead finder for Cobweb-Security. In this capacity, Bravatek will use its best efforts to provide the following services to Cobweb-Security.



a. Promote, market and introduce the Products to prospective clients nationwide.



b. Provide a quarterly Pipeline or project information leads report to Cobweb-Security on a monthly basis which contains a 3-month rolling forecast of potential sales.



c. Follow-up on on-going project leads that Cobweb-Security is actively engaged with or believes is appropriate.



d. Provide Cobweb-Security with any promotional materials, technical papers, white papers, proposals, etc. prior to publication or delivery to prospective clients.



2) Duties of Cobweb-Security



Cobweb-Security agrees to use its best efforts to promote and support project lead finding and after-sales support of Bravatek by:



a. Listing Bravatek in all appropriate sales and marketing materials as a non-exclusive alliance partner



b. Provide timely responses to both technical and administrative questions posed by Bravatek.



c. Promote Bravatek’s product and service offerings whenever possible.



d. Aid Bravatek in the writing of any technical/marketing/sales documents when requested and participate in mutually-agreed upon sales calls.



e. Provide Bravatek with co-branded marketing material that can be emailed or handed to prospective clients.



3) Obligations of the Parties



Bravatek and Cobweb-Security agree to jointly:



a. Develop and implement a joint Product Solution and Application Strategy whereby targeted markets/potential client-types/applications are mutually agreed upon;



b. Support each other in all agreed-upon technical, marketing and promotional efforts;



c. Develop a joint strategy for developing new product/services/capabilities to mutually benefit both parties;



d. Utilize each other as Preferred Vendors for services whenever possible upon mutual agreement.



4) Compensation



When custom Products are designed, developed and to be delivered to Bravatek-identified perspective clients, the parties shall agree to a proposed sales price for use during the project in writing prior to the commencement of each project.



For any Product or Solution sold to any perspective clients introduced by Bravatek registered with Cobweb-Security via WHMCS CRM system, and delivered through Bravatek or a Cobweb-Security-designated distribution affiliate(s) or sales channel(s), Bravatek will receive a lead-finder fee, to be mutually discussed and finally decided by Cobweb-Security at the range of minimum of 15% to maximum of 20% of project revenue, with an exact fee to be depending upon the overall project sales margin and cost of development and delivery of each project, payable NET 30 days after each client payment on delivered products received at Cobweb-Security’s bank account.