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2018 Keeneland Yearling Group - Participation Document

Mojo Thoroughbred Holdings, LLC (DBA: Mojo Racing Partners) is accepting General Partners for its 2018 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 2018 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 2018 Keeneland September Yearling Group begins on September 1, 2018 and ends on
March 31, 2019 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 be available through March 31, 2019 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 your "Entry" intent for this group. Multiple shares may be purchased; however, controlling interests will not be offered.  Half shares are available once a full share is purchased.  Each Partner's participation percentage is based on the shares purchased and used as the general fund for the operating expenses for this racing group. The entry is not the only cost.  The participation costs per share are as follows...
Participation Entry = $500 per share (50% due by December 25, 2018 and 50% due by February 14, 2019), and each additonal 1/2 Share = $250
There will be no refunds of any participation contributions—this is to protect the funding base of all Partners.

 If the horses remain with Mojo Thoroughbred Holding, LLC and their abilities merit racing beyond March 31, 2019,  additional capital contributions will be required by each Partner (based on their participation percentage) that will be billed on a quarterly basis starting with the 2Q 2019 budget to support the cost of the ongoing racing operations.
Quarterly Ops Billing = $350 per share (starting with 2Q 2019)


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 Partner will be responsible for his or her participation 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 Partner will be responsible for the costs associated with obtaining an owner’s license.
 
Each 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 or claim received 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 partcipation 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 2018 Keeneland September Yearling Group, each 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: 

[   ]  Share(s) _____                              $ 500

[   ]  1/2 Share(s) _____  x  $250  =      $ _____

                                             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 2018 Keeneland September Yearling Group!