Agrify (AGFY) - 2024 Q4 - Annual Results

Service Fees and Payments - The Service Provider will charge a maximum Service Fee of $1,000,000 per one-year term[10] - Service Fees will be calculated based on direct and indirect costs incurred by the Service Provider, multiplied by the applicable percentage mark-up as detailed in the Fee Document[9] - The Service Provider must submit a statement of amounts payable within twenty (20) calendar days after the end of each quarter[11] - The total monthly service fees for the service recipient amount to$72,552[45] Agreement Terms - The term of the Agreement is one (1) year, automatically renewing for successive one-year terms unless canceled in writing[19] - The Agreement allows for periodic review and amendment of the services provided, with changes agreed upon by both parties[5] - The Agreement is governed by the laws of the State of Delaware[28] Indemnification and Liability - The Service Recipients must indemnify the Service Provider against any losses incurred due to the Service Provider's performance or non-performance, except in cases of gross negligence[17] Service Provider Operations - The Service Provider may perform services through its own employees or designated third parties, passing through third-party costs with no markup[8] - The Service Provider is authorized to enter into agreements on behalf of the Service Recipients for necessary financial and legal services[34] - The Service Provider must make its books and records available for inspection by the Service Recipients upon reasonable notice[14] Financial Oversight - The CFO of Agrify will oversee financial forecasting, reporting, budgeting, audit, and long-term financial planning[40] - Agrify aims to enhance financial systems and controls to improve overall operation and effectiveness[42]