MEMBERSHIP AND BENEFITS

1. Membership. Upon Your signing this Agreement, You shall pay the Cooperative $500 for one share of class “A” stock in the Cooperative. You will be granted a Membership Interest in Forty Acre. As a Member, you will receive one (1) share of Forty Acre class “A” stock which entitles you to one (1) vote on those matters for which You are entitled to vote and other rights to govern the operations of Forty Acre (your “Governance Rights”) as well as the right to receive money (including distributions based on Your patronage as described below) and other financial rights in Forty Acre (your “Financial Rights”).  

Benefits Furnished by The Cooperative. The Cooperative intends to do some or all of the following: (a) negotiate agreements with suppliers of agricultural products and materials including negotiating discounts, allowances, special services and/or rebates for the benefit of members from such suppliers; (b) Provide and or negotiate cultivation and processing of agricultural products; (c) develop private label Product; (e) provide marketing programs, training programs and management programs; (f) provide a license to use the Marks (defined below);  (g) permit You to participate in other benefits developed from time to time by the Cooperative for its members; and (h) provide advocacy at the local, state, and federal levels.  

In addition to the Member Benefits listed above, and in an effort to reflect the different needs of the members, Forty Acre may from time to time establish “Tiered Membership Groups.” A member’s participation in a Tiered Membership Group shall be based on such member meeting the criteria established by Forty Acre’s Board of Directors for participation in such Tiered Membership Group, which may be based on production and or sales.  By becoming a member of Forty Acre You agree that Forty Acre may assign Your membership into a Tiered Membership Group based on Your production volume, sales, or other qualifications and criteria You may meet.   Forty Acre may also provide certain category or vendor-based purchasing programs (“Purchasing Programs”) which You may be eligible to elect to “opt-in” on an annual or other basis as determined by Forty Acre.  

1. Patronage Dividends. As a member of the Cooperative, You are entitled to receive patronage dividends based upon the quantity or value of the Cooperative’s business which is done with or for You during the Cooperative’s fiscal year in accordance with the Cooperative’s standard procedures for paying patronage dividends to the Cooperative’s members, as determined by the Board of Directors of the Coop- erative. The total amount of the patronage dividends paid to its members is based upon the amount of yield from agricultural production, sales and the share of re- bates which the Cooperative receives as the result of purchases of product through the Cooperative. Each year, the Board of Directors of the Cooperative will determine the portion of the total amount which will be paid out in such year, if any.

License of Marks. During the Term of this Agreement, the Cooperative grants You a nonexclusive license to use the Marks in connection with Your business at Your location as identified on the cover page. You shall have no right to use the Marks, in any manner, on the World Wide Web or Internet or in any email address or domain name without the prior written consent of the Cooperative. “Marks” shall mean “Forty Acre Cooperative”, logos and such other names, if any.  and licensed to Cooperative for use by its members and all modifications