Foal Share Contract
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Questroyal Stud,  LLC - 2014 Stallion Contract
Optional Foal Sharing Agreement - Mare Sharing Agreement 
AGREEMENT, dated as of _______________, 2013 between Questroyal II, LLC (the "COURAGEOUS CAT, STALLION SEASON OWNER, REPRESENTATIVE), 58 Dunn Road, Stillwater, NY 12170 and _________________________________ (Name of Mare Owner) ______________________________________________________________________ (Mare Owner's Address) ___________________________________________owner of said mare ______________________ (Name of Mare), hereinafter referred to as "Mare Owner."  
Mare Owner agrees to provide _____________________________ (Name of Mare) to the stallion COURAGEOUS CAT.
Season Holder agrees to provide a 2014 season to the COURAGEOUS CAT for the breeding of the mare _________________________ (Name of Mare.)
Breeding Requirements:  The Mare Owner represents that the mare information sheet is true and correct, and that the Mare is a Thoroughbred in good general health and sound for breeding purposes. Upon request, the Mare Owner shall provide Seller with a veterinary certificate to such effect. The Mare Owner agrees to qualify the mare for breeding as required by the breeding shed regulations and to have the Mare presented for breeding to the Stallion COURAGEOUS CAT, during the breeding season on as many heat periods as may be necessary for the Mare to be pronounced in foal, except that the Mare shall not be bred more than 5 times without the written consent of the Syndicate Manager. The Stallion Manager may refuse breeding if, in his opinion it will be detrimental to the health or safety of COURAGEOUS CAT. The Stallion Owner is not responsible for any accident, injury or disease incurred by the Mare. Mare Owner shall bear the risk of any injury or loss as to the Mare. No other mare may be substituted without written consent of the Seller. Domestic Mares are required to follow all State and Federal Requirements in the event they should follow an Imported Mare; the owner of a Domestic Mare shall be responsible for any resulting processing and veterinary fees.
Stallion Unavailability:  Should the Stallion die, be sold, be removed from New York State, or become unfit for service for the remainder of the subject breeding season before having been bred to Mare Owner’s Mare, then this Contract shall be null and void and neither party shall have any obligation to the other. Should the stallion’s book be reduced for the breeding season and the Seller’s nomination thereby is unavailable, this Agreement shall be null and void. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES AND NO IMPLIED WARRANTY SHALL ARISE BY VIRTUE OF THIS TRANSACTION AS TO THE MERCHANTABILITY OR AS TO THE FITNESS FOR ANY PARTICULAR PURPOSE OF THE STALLION OR HIS SEMEN.

The Mare Owner shall receive 100% of the Breeder's Awards and the Stallion Season Owner shall receive 100% of the Stallion Awards.

Mare Owner’s Agent Responsibility:  Any person signing this agreement as Mare Owner’s agent is personally obligated to perform and make payments hereunder unless a) the name, address, telephone number, and either the facsimile number or email of the Principal are set forth on the signature page, and b) the person signing is the Mare Owner’s agent and acting with the actual Authority of such Principal . 
All board, veterinarian, blacksmith, nomination, and other expenses with respect to the Mare and the 2014 foal resulting from breeding the Mare to Courageous Cat shall be the total responsibility of the Mare Owner except for sales expenses relating to the 2014 foal, outlined below. The expenses of nominating the 2014 foal to the Breeders' Cup, State Breeding Programs, and any other programs and all expenses of registering the 2014 foal with the Jockey Club shall be the total responsibility of the Mare Owner. All expenses with respect to the Stallion and the 2013 season shall be solely the expense of the Season Holder.
The Mare Owner will breed the mare with the proceeds from the sale of the resulting foal being divided as follows:
The mare owner will receive reimbursement of the sales entry fee for entering the resulting foal in the sale. Sales expenses for the 2015 foal such as the entry fee and commissions charged by the sales company; advertising, halter, stall card, and other charges by the consigning agent; the consigning agent's commission (at a rate of five percent); and board from the date the 2015 or 2016 foal arrives at the sales grounds, shall be deducted from the sales proceeds or if the 2015 weanling or 2016 yearling fails to sell shall be paid by the Mare Owner.
In the event of sale of the weanling, the net proceeds, thereafter (after agent commissions and sale company commissions and fees described above) on the sale will be, first $7,500 to the Mare Owner;

In the event of sale of the yearling, the net proceeds, thereafter (after agent commissions and sale company commissions and fees described above) on the sale will be, first $12,500 to the Mare Owner;

Thereafter, the proceeds will be divided 60% to the Mare Owner and 40% to the Stallion Season Owner.
Additionally, the Mare Owner will have the right to pay a stud fee of $6,000, up until one week prior to the sale of the resulting foal. The Mare Owner will then be entitled to the entire proceeds of the sale of the foal.
Additionally, the mare owner shall have the right to pay the stud fee of $6,000 at any time, after the foal is born, on or before on or before June 30, 2017 and terminate this foal sharing arrangement.
In the event that the mare owner wishes to sell the mare while she is in foal to Courageous Cat on a private sale basis, then mare owner shall be given the right to transfer this foal sharing agreement to the new mare owner, or pay a stud fee of $3,000 (a no guarantee of live foal stud fee) and terminate this agreement. Additionally, the mare owner shall be given the right to pay a no guarantee of live foal stud fee of $3,000 on or before December 1, 2014 and terminate this agreement.
In the event that the mare owner wishes to sell the mare at public auction while in foal to Courageous Cat, then the mare owner shall pay a stud fee up to the first $3,000 from net sales proceeds (after the deduction of sales entry fees, and sales costs as described above, and sales commissions). Any amount exceeding $3,000 shall belong to the mare owner. In the event that the mare owner decides to buy the mare back at public auction or in the event that the mare owner places a reserve price at said public auction and the mare does not sell, then this agreement will remain in force.
The foal may be sold as a weanling or a yearling at the discretion of the Mare Owner. 
In the event that the Mare Owner shall wish to sell the resulting foal as a two year old in training, then the Mare Owner will receive an additional $4,000 first money (for a total of $10,000 first money). Thereafter the division of net proceeds will be divided as stated above.
The 2014 foal will be sold by a consignor acceptable to the mare owner or mutually agreed upon consignor at one of the following yearling sales: 2014 Fasig Tipton July, any Fasig Tipton Saratoga sale or Keeneland September Yearling Sale or an acceptable to the mare owner, weanling sale.
The Mare Owner shall be responsible for registering the foal and shall nominate the foal to the New York State Breeders' Program (or other applicable state-bred programs).
Both parties agree that should the mare die before foaling the 2014 foal or prove to be barren or should the mare or stallion die or become unfit for breeding during 2013, this agreement shall terminate. All parties agree to abide by all rules and regulations set by the syndicate manager for the breeding of the Stallion, and this agreement is subject to the terms of the Stallion syndicate, management or co-ownership agreement.
It is further agreed that neither Mare Owner, Season Holder, Questroyal Stud, LLC or Consignor shall be liable or responsible for any disease, accident, or injury to the Mare, the Stallion, or the 2015 foal.
Mare Owner and Season Holder agree that the relationship established is one of co-ownership and not one of partnership or other fiduciary relationship. Accordingly, either party may bid for and purchase the 2015 foal for his own account at any auction sale without notice to the other and a reserve will be set for the joint account of the parties only if both parties agree.
Entire Agreement:  This agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may be executed in counterparts, each of which shall be an original all of which together shall constitute one and the same instrument. This agreement shall not be binding upon Stallion Season Owner unless signed by the Mare Owner and returned to Seller within 14 days of the date hereof. This Agreement shall be governed by the laws of the State of New York, and the parties consent and agree that jurisdiction for any action in connection herewith or any activity contemplated hereby shall be in Saratoga County, New York, and may be commenced with service made by certified mail or any other method permitted by law.
IN TESTIMONY WHEREOF, parties set their hands to duplicate copies hereof and the same shall be binding upon the parties hereto and their heirs, successors, and assigns.
MARE OWNER______________________________________DATE _________________________
Name of Mare Owner
SEASON HOLDER _____________________                            DATE _________________________
Questroyal II, LLC, Agent