**Sample Income Share Agreement (ISA)**
This Income Share Agreement ("Agreement") is made and entered into on [Date], between: [Name of Provider], residing at [Address], hereinafter referred to as the "Provider," And [Name of Recipient], residing at [Address], hereinafter referred to as the "Recipient."
**Background:**
The Provider has agreed to provide financial support to the Recipient for educational or career advancement purposes, and the Recipient agrees to share a percentage of their future income in return for this support.
**Terms and Conditions:**
1. **Financial Support:**
a. The Provider agrees to provide financial support to the Recipient in the amount of [Amount] for educational or career advancement purposes.
b. The Recipient acknowledges receipt of the financial support and agrees to use it solely for the intended purposes.
2. **Income Share:**
a. In consideration for the financial support provided by the Provider, the Recipient agrees to share a percentage of their future gross income ("Income Share") as outlined below:
- [Percentage]% of the Recipient's monthly gross income for a period of [Number] years, starting from the date of the Recipient's first employment following completion of their education or training.
b. The Income Share shall be calculated based on the Recipient's gross monthly income before any deductions or taxes.
3. **Repayment Terms:**
a. The Recipient shall commence payments of the Income Share within [Number] months of their first employment following completion of their education or training.
b. Payments shall be made monthly and shall continue for the duration specified in Clause 2(a) above.
4. **Termination:**
a. This Agreement shall terminate automatically upon the completion of the payment term specified in Clause 2(a) above.
b. The Recipient may also choose to terminate this Agreement early by paying the remaining balance of the Income Share to the Provider.
5. **Jurisdiction:**
This Agreement shall be governed by and construed in accordance with the laws of India. Any dispute arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the courts in Bengaluru, Karnataka, India.
6. **Miscellaneous:**
a. This Agreement constitutes the entire understanding between the parties concerning the subject matter herein and supersedes all prior agreements and understandings, whether oral or written.
b. This Agreement may be amended or modified only by a written instrument executed by both parties.
c. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
**IN WITNESS WHEREOF**, the parties hereto have executed this Income Share Agreement as of the date first above written.
[Signature of Provider] _________________________
[Name of Provider]
[Signature of Recipient] _________________________
[Name of Recipient]
*Date: [Date]*
*Address of Provider: [Address]*
*Address of Recipient: [Address]*