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Document Preview Strategic Alliance Agreement |
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Title: |
Strategic Alliance Agreement |
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Entities: |
Lowe’s Companies, Inc.; Nationsrent Companies Inc; United Rentals, Inc.; Akerman Senterfitt |
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Date: |
2004 |
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Size: |
Preview shows 8KB of 131KB total |
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Price: |
$47 |
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ID: |
#1509250 |
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CONFIDENTIAL
Strategic Alliance Agreement
between
NationsRent, Inc.
and
Lowe's Companies, Inc.
October 12, 2000
Table of Contents
TAB
| Strategic Alliance Agreement, dated October 12, 2000 | 1 |
| Exhibit A - Roll out Schedule for 2000 and 2001 | 2 |
| Exhibit B - Operating Matters | 3 |
| Exhibit C - Form of Lease | 4 |
| Exhibit D - Competitive Companies | 5 |
| Exhibit E - List of On-Site Rental Equipment | 6 |
| Exhibit F - List of On-Site Rental Merchandise | 7 |
| Exhibit G - Lowe's Mark | 8 |
| Exhibit H - Prototypical Plans for On-Site Rental Store | 9 |
| Exhibit I - Prototypical Signage | 10 |
| Confidentiality Agreement, dated January 28, 2000 | 11 |
October 12, 2000
Lowe's Companies, Inc.
P.O. Box 1111
North Wilkesboro, NC 28656
| Re: | Strategic Alliance |
Gentlemen:
Pursuant to the terms of the Strategic Alliance Letter Agreement, dated as of April 3, 2000 (the "Pilot Agreement"), between NationsRent, Inc., a Delaware corporation, through its operating subsidiaries ("NRI") and Lowe's Companies, Inc., a North Carolina corporation, through its operating subsidiaries, Lowe's Home Centers, Inc. and Lowe's HIW, Inc. ("Lowe's"), NRI and Lowe's have tested the concept of operating equipment rental locations on-site at Lowe's home improvement stores (the "On-Site Rental Concept"). NRI and Lowe's now desire to establish a long-term strategic alliance to roll-out the On-Site Rental Concept to certain existing and subsequently opened Lowe's stores on the following terms and subject to the following conditions:
| 1. | Roll-Out Schedule. During the Term (as defined in paragraph 5 below), upon the terms and subject to the conditions of this agreement, Lowe's grants to NRI the right and obligation to, and NRI shall, open and operate equipment rental stores ("On-Site Rental Stores") at designated existing and newly constructed Lowe's home improvement stores ("Participating Lowe's Stores"). In each calendar quarter during the Term, Lowe's and NRI shall cooperate to develop and review a schedule for constructing and opening On-Site Rental Stores at Participating Lowe's Stores on a twelve (12) month rolling basis, which schedule shall be reasonably adjusted by the parties based on site specific conditions. The parties shall develop and finalize such schedule in good faith and with due consideration for each other's objectives and operating parameters and shall exchange appropriate market information (including trending and indexing of existing store total revenue, commercial sales revenue, transactions and product category mix) to assist in developing On-Site Rental Stores in desirable markets. Exhibit A sets forth a finalized schedule for the remainder of calendar year 2000 and a preliminary schedule for calendar year 2001, which 2001 schedule will be finalized as to the number of sites on or before November 1, 2000. The parties agree that they shall finalize successive schedules six (6) months in advance of the quarter for which construction shall commence on any particular On-Site Rental Store. For each calendar year during the Term, Lowe's agrees to designate at least 30 Participating Lowe's Stores in which NRI may open and operate On-Site Rental Stores and NRI agrees to operate at least 30 On-Site Rental Stores at Participating Lowe's Stores pursuant to the agreed upon schedule. |
| 2. | Exclusivity. |
| (a) | NRI. During the Term and for the period described in paragraph 5(d) hereof following the termination or expiration of this agreement, NRI shall not (i) engage in discussions or negotiations or enter into any agreement with third parties to develop the On-Site Rental Concept, which shall be deemed to include on-site equipment rental at other big-box retailers that directly compete with Lowe's (such as Home Depot, Wal-Mart, Sears and Home Base), (ii) engage, directly or indirectly, in the home improvement retailing business, except as ancillary to its business as presently conducted and except for e-commerce initiatives, or (iii) advertise for sale at its On-Site Rental Stores any used rental equipment which is available for sale (other than through Lowe's specialty order program) at the respective Participating Lowe's Stores or to display "for-sale" signs on any such used equipment at its On-Site Rental Stores, provided, however, that nothing shall prohibit NRI from (x) actually selling such used rental equipment at any On-Site Rental Store, (y) advertising the sale of any used rental equipment not available for sale at the respective Participating Lowe's Store whether at any On-Site Rental Store or any other NRI store, or (z) displaying a sign at any On-Site Rental Store no larger than 11 x 17 inches regarding selling used equipment at other NRI stores that are not On-Site Rental Stores. |
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