Operational Agreement Between PoolStake LLC and Authorized Ticket Agent
PoolStake hereby appoints Agent as its authorized non-exclusive agent for the limited and specific purpose of purchasing official Powerball and Mega Millions lottery tickets at authorized Tennessee Lottery retail locations on behalf of PoolStake LLC, in accordance with the terms and conditions of this Agreement. Agent accepts such appointment.
This appointment does not create an employment relationship. Agent is an independent contractor. Agent shall have no authority to act on behalf of PoolStake for any purpose other than ticket purchasing and the specific related duties described in this Agreement.
Agent shall purchase lottery tickets in accordance with the weekly schedule provided by PoolStake. All ticket purchases shall be made between 10:00 AM and 12:00 PM Eastern Time on the applicable purchase day.
| Purchase Day | Lottery | Draw Day |
|---|---|---|
| Saturday morning | Powerball | Monday |
| Sunday morning | Mega Millions | Tuesday |
| Monday morning | Powerball | Wednesday |
| Wednesday morning | Mega Millions | Friday |
| Thursday morning | Powerball | Saturday |
The quantity of tickets to purchase shall be determined by the current jackpot amount, according to the following default tier structure:
PoolStake will notify Agent of any deviation from the default tier quantities at least two (2) hours before the purchase window opens.
Immediately upon purchasing tickets and prior to the opening of any pool on the PoolStake platform, Agent shall:
No PoolStake pool may open for participant entry until Agent has confirmed successful ticket upload. If Agent cannot complete the upload by 12:00 PM Eastern Time on the purchase day, Agent must notify PoolStake immediately.
Agent shall physically store all purchased lottery tickets in a secure location (locked safe, filing cabinet, or equivalent) from the time of purchase until the applicable lottery draw results are confirmed. Agent shall not allow any third party to access, hold, or copy the lottery tickets.
If any tickets purchased by Agent generate lottery prize proceeds, Agent shall:
Agent shall maintain accurate records of all ticket purchases, including purchase receipts, ticket quantities, purchase amounts, retailer location, and draw dates. Records shall be retained for a minimum of seven (7) years and provided to PoolStake upon request.
Agent shall identify and maintain at least one (1) backup Tennessee Lottery retail location to ensure tickets can be purchased if the primary retail location is unavailable for any reason.
If Agent is unable to purchase the required tickets for any draw for any reason, Agent must notify PoolStake by secure message within thirty (30) minutes of the expiration of the purchase window. Agent's failure to notify PoolStake in a timely manner shall constitute a material breach of this Agreement.
In consideration for Agent's services, PoolStake shall pay Agent as follows:
For clarity, the compensation described above is separate from and in addition to PoolStake's reimbursement of actual ticket purchase costs. Agent is not entitled to any portion of any lottery prize or pool proceeds beyond the agreed Agent Fee.
Retailer Commission Note: Retailer commission (6.5%) paid by the Tennessee Lottery on ticket sales flows to the retail location where tickets are purchased. If Agent is the authorized retailer, Agent retains this commission in addition to the Agent Fee. If Agent purchases from a third-party retailer, the commission flows to that retailer.
Agent acknowledges that in the course of performing services under this Agreement, Agent will have access to confidential information regarding PoolStake's business operations, pool mechanics, ticket quantities, user base, financial information, and other proprietary information (collectively, "Confidential Information"). Agent agrees to:
This confidentiality obligation survives the termination of this Agreement for a period of three (3) years.
Agent shall be liable to PoolStake for direct damages arising from:
PoolStake shall indemnify and hold Agent harmless from any third-party claims arising from Agent's performance of the specific duties described in this Agreement, provided Agent has performed such duties in accordance with this Agreement and all applicable laws.
Agent shall indemnify and hold PoolStake harmless from any third-party claims arising from Agent's gross negligence, willful misconduct, or material breach of this Agreement.
This Agreement shall commence on the Effective Date and continue for an initial term of twelve (12) months, after which it shall automatically renew for successive twelve (12) month periods unless terminated as provided herein.
Upon termination:
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.