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2017 Keeneland Yearling Group - Participation Document

Mojo Thoroughbred Holdings, LLC (DBA: Mojo Racing Partners) is accepting General Partners for its 2017 Keeneland September Yearling Group.  This document serves as your expressed interest to participate in this new group.


TERMS & CONDITIONS TO PARTICIPATE:

I.  Understanding  

The intent of Mojo LLC is to purchase several Thoroughbreds from the 2017 Keeneland September Yearling Sale to be developed as a Two-Year-Old (2YO) racing prospects.

Mojo is offering General Partner leasehold shares in this new group to provide a fun and an affordable opportunity to participate the development of Thoroughbreds for racing prospects.

You have read, understand, and asked questions (if necessary) about the 
Participation Conditions and Participation Understanding.

You agree to the conditions for the Term, Shares Available, General Fund, Expenses, and Distributions.


II.  Term  

The term for participating in the 2017 Keeneland September Yearling Group begins on August 15, 2017 and ends on
March 31, 2018 if all of the horses in the group are sold or if all of the horses in the group are unable to race.


If any horse's ability merits racing beyond the term of this agreement, then the term of this agreement will be automatically extended each quarter by the management of Mojo LLC for the horses racing for this group.

Should an unexpected personal hardship occur during the term of this partnership, a General Partner may request to withdraw from the group; but that withdrawal has to be submitted in writing to and approved by the Chief Executive Manager (CEM).  If a General Partner withdraws, there will be no refund of any capital contribution and the General Partner will forfeit all current and future distributions, rights, and benefits related to this group.


III.  Shares Available

In order to accommodate different participation interests and budgets, versatile share percentages and pricing options are being offered.

Shares in this group will only be offered for a limited time, and will not be available after November 1, 2017 or if all of the available shares are sold.

Mojo Thoroughbred Holdings, LLC (the entity) or its designee retains the right to all of the unsold and/or forfeited shares offered, as well as the respective costs associated with each of these shares.


IV.  General Fund
  

To participate in this new group, a capital contribution is required as an Entry Fee for this group.  The entry fee is based on the percentage of ownership desired.  The entry fee cost per share is as follows...
1% General Partner Share = $350 and each additonal 1/2% Share = $175
Multiple shares may be purchased; however, controlling interests will not be offered.

There will be no refunds of any capiltal contributions—this is to protect the cost base of the other General Partners.

Once the bloodstock has been acquired, a one-time after sale charge will be billed separately for expenses related to necessary farm layup, shipping, vet services, and general business expenses to positioning the bloodstock for their preparation to become race horses.  

The After Sale Charge is typically $150 per 1% share.

The horses may be nominated to a 2YO Futurity, and the cost for nomination, entry fees, and sustaining payments would also be billed separately.  

The Futurity Charge is typically $50 per 1% share.

If the horses remain with Mojo Thoroughbred Holding, LLC and their abilities merit racing beyond March 31, 2018,  additional capital contributions will be required by each General Partner (based on their percentage of ownership) that will be billed on a quarterly basis to support the cost of the racing operations.

The Quarterly Ops Billing is typcially $300 per 1% share.


V.  Operating and Other Expenses
 

Standard operating expenses include: Training, vet care, farm layup, farrier services, and shipping.

Other general business expenses include: LLC registration for the group, photography, sale/stakes nominations, sale/race entry fees, stable licensing, accounting services, standard office supplies/equipment, and advertising/promotions.

Each General Partner will be responsible for his or her percentage of any additional costs incurred related to extensive medical and/or surgery expenses incurred (above the existing budgeted amount), as well as insurance (if purchased in the future) related to the horse's activity during the Term.

 
Each General Partner will be responsible for the costs associated with obtaining an owner’s license.
 
Each General Partner may be responsible for his or her own personal expenses (including friends and family members) related to travel/entertainment (e.g., transportation, lodging, party accommodations, food and beverage, etc). 


VI.  Distributions  

Mojo LLC is eligible to receive a 5% royalty from any purse money won for managing the group.

Captial Partners are entitled receive a ROIC Distribution if any horse in the group finishes first, second, or third.

Distributions to the General Partners are contingent upon net earnings at the end of a race meet based on their share percentage. 

If the horse is sold, Mojo Thoroughbred Holdings, LLC receives a 5% commission from the final sale price for managing the group.

If the horse is sold (publicly or privately), any net proceeds generated from that sale will be distributed based on each General Partner's share(s) percentage unless the Capital Partners agree to reinvest the proceeds into new bloodstock that are intended to race for the group.  

Only General Partners in good standing who have not wrongfully caused dissolution or have not wrongfully dissociated with Mojo Thoroughbred Holdings, LLC will be eligible for distributions.

 

PARTICIPATION AGREEMENT:

Participation Instructions:  

In order to participate in the 2017 Keeneland September Yearling Group, each General Partner must complete the following items:

1.  Place your initial next to each of the five sections (I.-VI.) above. 

2.  Select your Participation Level.  

3.  Indicate your Payment Method.  Checks should be made out to: Mojo Racing Partners


4.  
Fill out the Participant of Record information that follows.

5.  Mail (or send an e-mail pdf) the completed/signed Participation Document and your payment to the following address:

     Mojo Thoroughbred Holdings, LLC
     10417 Stoneside Trail
     Fort Worth, Texas 76244

Your signed, dated, and returned copy will be kept on file for an indefinite period of time, and your payment will be deposited in the bank utilized by Mojo Thoroughbred Holdings, LLC.
   

Participation Levels: 

[   ]  1% Share:                                          $ 350

[   ]  1/2% Share(s) _____  x  $175  =      $ _____

                                               Total  =      $ _____


Payment Methods:


Mojo Thoroughbred Holdings, LLC accepts cash and certified check.

[   ]  Cash

[   ]  Certified Check  (made payable to Mojo Racing Partners)
       Note: A Certified Check is required if the person has not previously participated in a Mojo Group.
 


General Partner of Record:


     _______________________________
     (Signature)


     _______________________________
     (Print Participant Name)


     _______________________________
     (Date)


     _______________________________
     (Mailing Address - Street)


     _______________________________
     (Mailing Address - Office, Suite, Apartment #)


     _______________________________
     (City, State, and Zip)


     _______________________________
     (Mobile Phone Number - please, so you can be promptly notified of partnership events)


     _______________________________
     (Alternate Telephone Number - home and/or office)


     _______________________________
     (e-mail address - this will serve as the main delivery channel for partnership information and updates) 


     _______________________________
     (SSN - for tax purposes only and will remain confidential)


Mojo Thoroughbred Holdings, LLC will send you (via e-mail) a confirmation that your Participation Document and payment have been received.

Thank you for participating in the 2017 Keeneland September Yearling Group!