Training Contract

This agreement pertains to the horse referenced below (hereinafter "Horse"). Client agrees to provide WF with a copy of Horse's registration papers upon arrival. If more than one horse will be under the care of WF, please complete a training services contract for each horse.

Client agrees to pay WF for all board and services rendered by WF to the Horse in accordance with the WF Fee Schedule which Client acknowledges receiving. WF will provide to Client an updated Fee Schedule at the beginning of each calendar year and reserves the right to modify the WF Fee Schedule from year to year as circumstances require. In the unlikely event that costs dramatically increase (I.e-fuel), WF reserves the right to change the fee schedule outside of the annual update. In the unlikely event that costs dramatically increase (I.e-fuel), WF reserves the right to change the fee schedule outside of the annual update. Client further agrees to pay WF for all other services rendered by WF, and all other costs and expenses WF incurs or expends in connection with the Horse in WF's sole discretion. Client shall be responsible for all the foregoing fees, costs and expenses' beginning with the Horse's arrival at WF until the horse is released by WF to Client. Client agrees to any and all such fees, costs and expenses before the Horse is released by WF to Client. Client agrees that WF shall be entitled to retain possession of the Horse until all such fees, costs and expenses are paid. Client agrees that none of WF's fees, costs and expenses under this Agreement is subject to any set-off or counter claim. Client hereby contracts for the WF training or board services to be rendered at Whistlejacket Farm. Please reference Fee Schedule for training and board fees.

All parts of this agreement pertain to the additional horse(s) referenced below (hereinafter "Horse"). Client agrees to provide WF with a copy of Horse's registration papers upon arrival.

Veterinary care will be provided to the Horse by WF as decided in WF's sole judgment, including but not limited to emergency treatment or surgery without notice to Client. Without limiting the generality of the forgoing, WF shall be entitled, without liability to Client, to vaccinate or test the Horse or to take any actions to comply with health requirements or advice of any governmental body, office or agency. Client shall pay for all veterinary care provided to the Horse by or on behalf of WF.

Client warrants that the Horse will be free of all illness and diseases upon arrival at WF. On or prior to arrival at WF the Horse shall have current vaccination for Strangles, Equine influenza, Rhinopneumonitis, Tetanus, W. Nile and Sleeping Sickness and have tested negative for Coggins and Swamp Fever each performed within six (6) months or arrival at WF and Client shall provide records of such vaccinations and tests. If upon arrival at WF, the Horse is not fully vaccinated or tested or if the Horse's records do not reflect full vaccinations or testing, WF may at its sole discretion, not accept the Horse or provide such vaccinations and tests to the Horse at Client's expense.

If the Horse is placed into training by WF, the Horse shall be worked, trained or shown by such WF personnel as chosen by WF in its sole judgment. WF may change the WF personnel working, training or showing the Horse from time to time or at any time. Where, when, and whom, against whom, and in what show or class the Horse shall be shown will be decided by WF in its sole judgment, after consultation with Client. Acceptance of the horse into training by WF does not obligate WF to show the Horse. WF disclaims any obligation to show the Horse in any particular show or any particular class. Client acknowledges that WF may have in its training program or owned by WF one or more horses who may compete against the Horse at horse shows or in the same class at horse shows. If the Client disagrees with any decision of WF regarding the training or showing of the Horse, the Client's sole remedy in such event is to withdraw the Horse from WF's training program, which Client agrees shall not terminate or alter Client's obligation to pay any fees, costs, expenses or other amounts already incurred pursuant to this Agreement.

This Agreement must be signed by the Client and the General Manager of Whistlejacket Farm at the time of or prior to arrival of the horse at Whistlejacket Farm, or the horse will not be accepted.

In the event the Horse is sold while the Horse is in WF custody, or within 60 days after leaving WF custody, Client shall pay WF a commission of fifteen (15) percent of the sale price, regardless of whether the sale was achieved through WF's efforts. Should another agent be involved in the sale, the commission of 15% will be payable to WF. WF shall at its sole discretion, decide disbursement of the commission. All down payments on the sale of the Horse will be made payable to WF and funds over and above commission and any monies owed to WF by Client will be disbursed promptly to Client by WF.

All fees as defined in the WF Fee Schedule are due and payable by the 10th of the month regardless of whether a bill has been sent by WF. Interest at the rate of 2% per month, or the highest legal rate, whichever is less, shall be charged and paid on all balances of Client unpaid after the 10th of the month it was due. In addition, a late fee of $25 per horse will be assessed each month that payment is received after the 10th of the month.

Any returned checks will require a credit card for future payments and will incur a $30 fee per each returned check.

Clients with balances outstanding past sixty (60) days will be contacted to provide a credit card in order to bring their account current. Any client payments made on accounts with balances beyond thirty (30) days will be applied to the oldest invoices first.

If Client fails to pay any amount due hereunder for more than thirty (30) days, WF may immediately accelerate all other amounts due under this Agreement and under any other agreement between Client and WF or its affiliates upon written notice to Client.

Client agrees that all outstanding balances due to WF for board, training, breeding, handling, foaling, veterinary care, farrier work, and all other WF fees, charges and expenses pursuant to this Agreement shall be paid prior to WF's release of the horse (including but not limited to outstanding veterinarian bills that may be due directly to vet offices by client or amounts due to any of WF's affiliates). The client shall make arrangements with WF for the Horse's release at least 30 days in advance. (If the Horse is being transported by a party other than WF, including to a show or otherwise, Client agrees that the party transporting the Horse is not an agent for WF and agrees to look solely to such a person, and not to WF, for any loss or claim arising out of the transportation of the Horse.)

Client grants WF a lien upon and security interest in the Horse, any foal of the Horse and the registration papers of each of the foregoing to secure all obligations and amounts due under this Agreement or any other agreement between Client and WF or any of its affiliates. WF may, at any time until all amounts due hereunder are fully paid, file a photocopy of this Agreement in the county and state in which it believes any such horse or foal may be kept, or where the Client resides and when so filed, the copy shall be effective as a financing statement, as well as security agreement. At any time, if Client's balance with WF is unpaid for THIRTY (30) days, or the Client is otherwise in default of this Agreement or any other Agreement between Client and WF or any of its affiliates, WF may foreclose its security interest. Ten (10) days' notice shall be deemed reasonable notice of any foreclosure sale. The foreclosure sale may be held by individual horse, in bulk or in parcels, at wholesale or retail, in public or in private, and at any time and place and on any other terms selected by WF. The Horse or foal may be sold in its existing condition. Expenses incurred by WF in its sole judgment, including, but not limited to, WF's fees, the cost of transportation and preparation for sale and of the conducting the sale, reasonable attorney's fees and costs and expenses incurred by WF, and all other amounts owed to WF shall be deducted from the sale proceeds. WF shall account to Client for any surplus; however, Client shall be liable to WF for any deficiency.

Client may not assign any rights or delegate any duties under this Agreement without the prior written consent of WF, which may be withheld in WF's discretion. WF may assign any right or delegate any duties under this Agreement upon written notice to Client.

This Agreement may be terminated by either WF or Client at any time upon thirty (30) days written notice to the other, provided that in the event of a default by one party, the other party may terminate at any time upon immediate written notice. Upon the termination of this Agreement, Client shall remove the Horse in the manner provided in Paragraph 13 hereof. Termination shall apply only to the horse(s) specified in the termination notice and this Agreement shall continue to apply to any Horse remaining in WF's possession after the termination of this Agreement. No delay or failure by WF to exercise any right or remedy under this Agreement shall be deemed a waiver of that or any other right or remedy. The termination of the Agreement shall not terminate either party's obligation to pay any fees, costs, expenses and other amounts already incurred pursuant to this Agreement.

Client shall pay for and shall defend, indemnify and hold WF harmless from any sales, excise, use, or similar tax relating to the Horse or any of the Client's horses, including any interest or penalty thereon.

Client shall promptly notify WF in writing of any change in any information given by Client to WF.

This Agreement contains the entire understanding of the parties concerning the subject matter and supersedes any prior or contemporary agreement between the parties. This Agreement may only be modified or amended in writing stating that it is a modification or amendment of this Agreement. The parties hereto agree that they will make no claim at any time that this Agreement has been orally altered, modified or otherwise changed. This Agreement shall not be construed against WF on the basis that WF drafted the same. Headings are for convenience only and are not part of this Agreement. The invalidity of or unenforceability of any term or provision of this Agreement shall not affect the validity or enforceability of the remainder. This Agreement shall be construed and governed by the internals laws of the State of Texas.

This Agreement contains the entire understanding of the parties concerning the subject matter and supersedes any prior or contemporary agreement between the parties. This Agreement may only be modified or amended in writing stating that it is a modification or amendment of this Agreement. The parties hereto agree that they will make no claim at any time that this Agreement has been orally altered, modified or otherwise changed. This Agreement shall not be construed against WF on the basis that WF drafted the same. Headings are for convenience only and are not part of this Agreement. The invalidity of or unenforceability of any term or provision of this Agreement shall not affect the validity or enforceability of the remainder. This Agreement shall be construed and governed by the internals laws of the State of Texas.