[WexDemy] Instructor Agreement -Financial Terms and Conditions

1. Compensation:

  • The academy agrees to compensate the instructor for services rendered based on the agreed-upon compensation model outlined in Exhibit A (attached).

2. Payment Schedule:

  • Instructors are paid monthly after all transaction taxes and other deductions made as per agreed terms and conditions. Instructors can use any of the payment methods available on WexDemy to receive payment.

3. Pricing Structure:

  • Instructors are paid 40% of net amount of revenue received from sales of their course. Please note these are revenue shares on the Net Amount, which is the amount a student paid less any applicable taxes or fees.

4. Taxes and Withholding:

  • All applicable taxes will be deducted from the gross amount of revenue received from sales of course.

5. Currency and Exchange Rates:

  • The base currency on WexDemy is USD. Currency conversion will be done at the point of withdrawal which is outside WexDemy. Instructors will pay any charges incurred from the use of third-party platform for withdrawal.

6. Modifications to Compensation:

  • WexDemy reserves the right for any periodic change in compensation. This will be communicated accordingly to all instructors.

7. Confidentiality:

  • The Instructor agrees not to disclose, directly or indirectly, any details related to compensation, payment schedules, or other financial terms to any third party, including but not limited to students, other instructors, competitors, or the general public. This prohibition extends to verbal, written, or electronic communication.
  • Exceptions:

Disclosure may be permitted in the following circumstances:

  • Disclosure required by law or any regulatory authority, provided that the disclosing party informs the other party promptly and cooperates in any efforts to prevent or limit such disclosure.
  • Disclosure to legal or financial advisors of either party for the purpose of seeking professional advice, provided that such advisors are bound by confidentiality obligations.

Duration of Confidentiality:

The obligation of confidentiality regarding financial arrangements shall survive the termination of this agreement and shall remain in effect for a period of 5 years from the date of termination.

Consequences of Breach:

Any breach of this confidentiality provision shall be considered a material breach of this agreement. In the event of a breach, the non-breaching party shall be entitled to seek injunctive relief, damages, or both, as well as any other remedies available at law or in equity.

8. Dispute Resolution:

In the event of any dispute arising out of or in connection with this agreement, the parties agree to first attempt to resolve the dispute through any of our dispute resolution procedures.

9. Governing Law:

  • WexDemy is in Nigeria and is bound by the laws of the Federal republic of Nigeria. Should there be any change in financial policy of Nigeria that directly concern WexDemy, all necessary adjustments shall be made to comply with the same.

Exhibit A: Compensation Model

  • Attached is a detailed exhibit outlining the specific compensation model, including percentages, fixed fees, or any other relevant details.https://wexdemy.com/exhibit-a/