CLIENT PARTNERSHIP & CONTRIBUTION POLICY
Purpose
Rethinc Real Estate, Inc. (“Rethinc”) has established this Client Partnership and Contribution Policy (“CPCP”) as a way to make charitable or civic contributions on behalf of and/or together with eligible clients (“EC”). The purpose of this policy is to define client eligibility and outline additional parameters under which a contribution can be made. Contributions will be made to the Center City District Foundation (“CCDF”) or to another cause jointly selected by Rethinc and eligible clients.
Eligibility
To be considered an EC under this CPCP, a client must:
1. Formally engage Rethinc as their Tenant Representative under a fully executed Exclusive Representation Agency Agreement with an initial term of at least one year. During the term of the Exclusive Representation Agency Agreement, such client must enter into a lease transaction meeting the following criteria:
2. Client must lease a minimum of 7,500 Rentable Square Feet (RSF) of office or leasable space.
3. Client must enter into a lease term for a minimum of ten (10) years.
4. Rethinc must receive a commission equal to four (4%) percent of the aggregate base rent of the lease transaction based on the aforementioned RSF and lease term.
5. Rethinc must have received the full commission due.
Upon all of the aforementioned criteria being met, Rethinc shall make a cash contribution to CCDF or another recipient equal in value to five (5%) percent (or as otherwise agreed by Rethinc and EC) of the total commission received by Rethinc. Such contribution may be made by Rethinc on behalf of the EC and Rethinc or made jointly by the EC and Rethinc in a method mutually agreed upon by both parties. Should one or more of the criteria in this section fail to be met, Rethinc has no obligation to make any contribution whatsoever, however Rethinc may elect to make a contribution at its sole discretion and the amount of such contribution in this circumstance shall also be solely determined by Rethinc.
CCDF and/or other recipients
CCDF is a charitable, nonprofit organization that supports the Center City District and Central Philadelphia Development Corporation. These organizations exist to enhance the quality of life and economic prosperity of the downtown area. Making Center City and the surrounding neighborhoods a clean, safe and attractive place to live, work, shop and visit is a benefit to the entire community and we view CCDF as a leader at the forefront of this ongoing cause. Other nonprofit 501 (c)(3) organizations will be considered as potential contribution recipients at the request of an EC.