MICHAEL OWEN RACING CLUB

TERMS & CONDITIONS OF MEMBERSHIP

Membership of the Racing Club is primarily for entertainment purposes. It is not an investment opportunity. The Racing Club does not guarantee any prize money to its Members.

1. INTERPRETATION

1.1. In these terms and conditions the following words will (unless the context otherwise requires) have the following meanings:

“Annual Membership

Period” a period of twelve (12) months from the date on which the Membership Fee (or first instalment of the Membership Fee) is paid.

“Company” means Michael Owen Racing Club Ltd a company incorporated in England and Wales under company number 11694453 and whose registered office address is at LJT Financial Management Limited The Old School, School Lane, Blymhill, TF11 8LJ.

“Conditions” means these terms and conditions of Membership.

“Contract” means a legally binding contract between the Company and the Member governing the Member’s membership of the Racing Club.

“Event” means any event organised by the Racing Club and/or any event for which the Racing Club has provided the Member with a ticket or to which the Racing Club has arranged entrance for the Member.

“Intellectual Property” means any and all patents, trade marks, service marks, registered designs, application for any of the foregoing, copyright, unregistered design rights and any other similar protected rights in any other country in relation to the materials provided to a Member by the Company that are owned or capable of being owned by the Company.

“Member(s)” means you, the person taking out a Contract for membership of the Racing Club with the Company.

“Membership Fee” means the membership fees payable as set out in clause 5 below.

“Racing Club” means the Racing Club operated by the Company.

2. APPLICATION OF CONDITIONS

2.1. Subject to the provisions of clause 2.3 below, these Conditions are the only conditions upon which the Company is prepared to contract with the Member and they will apply to and govern the Contract and all of the Member’s rights in relation to the Member’s membership of the Racing Club.

2.2. No terms or conditions stipulated orally or contained in any document issued by the Member to the Racing Club (or vice-versa) will form part of the Contract.

2.3. Any variation of or addition to these Conditions will only have effect if it is in writing, contains a specific reference to these Conditions and is signed by a duly authorised representative of the Company.

2.4. Membership of the Racing Club is limited to a maximum of 500 Members at any given time, eligible on a first come, first served basis.

3. MEMBERSHIP BENEFITS

The Racing Club hereby confers the following benefits on the Member for the duration of their membership of the Racing Club:

3.1. where available to the Racing Club, Members shall receive a share of the net prize money won by the Racing Club's horses, as calculated in accordance with the formula referred to in these Conditions and the worked examples set out on the Racing Club website (the Racing Club shall train a minimum of two (2) horses per calendar year (one will be national hunt and one will be flat) but the Racing Club reserves the right to train more than two horses at any one time;

3.2. an invitation to attend the annual Members Day at Manor House Stables hosted by Michael Owen and the trainers on a date to be announced by the Company to the Members;

3.3. a Certificate of membership to the Racing Club;

3.4. Confirmation of the names of the horses within the Racing Club during the Member’s Annual Membership Period;

3.5. entry into regular ballots to win owners and trainers tickets to see the Racing Club’s horses race at various meetings;

3.6. regular competitions run by the Racing Club amongst all Members;

3.7. a monthly newsletter subscription sent by email to all Members;

3.8. regular updates from key personnel on the horses being trained;

3.9. discounted tickets to racecourses and meets as negotiated and announced by the Racing Club from time to time*;

3.10. an opportunity to attend a Members event at Chester Races evening meet on a date to be announced by the Company*; and

3.11. a photograph with a Racing Club horse in a presentation folder*

(*additional charges may apply*).

4. DURATION OF MEMBERSHIP

4.1. Subject to the provisions of clause 4.2 below, each Member shall be required to commit to a minimum membership period of one Annual Membership Period.

4.2. A Member may choose to cancel their membership to the Racing Club at any point within 14 days of the date on which they first become a Member. Nothing in these Conditions or the Contract shall operate to affect a Member’s consumer rights.

4.3. If a Member chooses not to renew at the end of the first Annual Membership Period their membership shall automatically expire at the end of the Annual Membership Period.

4.4. The Company will write to each Member asking whether they wish to renew their membership for a further Annual Membership Period at least four (4) weeks before the end of an Annual Membership Period

4.5. In the event that a Member does not notify the Racing Club of their intention to renew their Membership with the Racing Club within four (4) weeks of the end of an Annual Membership Period, the Racing Club reserves the right to offer the membership to a new Member.

4.6. A Member may terminate their membership with the Racing Club at any time during an Annual Membership Period, however they acknowledge that they shall not be entitled to any refund of the Membership Fee and they shall immediately forfeit their rights to any entitlements to the benefits as set out in clause 3 of these Conditions.

5. MEMBERSHIP FEES

5.1. The standard Membership Fee for an Annual Membership Period shall be £420, payable by way of 1 upfront payment and 11 monthly instalments of £35 which shall be taken by way of direct debit/recurring payment each month on the date confirmed at the time of sign up.

5.2. Members may pay the Membership Fee at a discounted rate of £399 for an Annual Membership Period when paid in one lump sum instalment at the beginning of an Annual Membership Period.

6. PRIZE MONEY

6.1. Net prize money won by the horses owned by the Racing Club during each Member’s Annual Membership Period shall be distributed equally amongst the Members within 60 days of the end of each Member’s Annual Membership Period in accordance with the Worked Example set out at the end of these Conditions and elsewhere on the Racing Club website.

6.2. Membership is primarily an entertainment. It is not an investment opportunity. The Racing Club does not guarantee any prize money to its Members.

6.3. Any BOBIS (British Owners & Breeders Incentive Scheme), or similar, payments made to the Racing Club, above prize money won, will be retained by the Racing Club and will not be distributed to Members as part of any prize money.

6.4. The Membership Fee is not subject to any additional requests for payment from the Company in relation to the keeping and training of the racehorses, no matter what costs the Racing Club or the Company may incur.

7. CONDITIONS OF MEMBERSHIP

7.1. All decisions relating to the horses, trainers, administration, and general management of the Racing Club shall be vested in the Racing Club’s management team and the Company’s board of directors. A Member shall have no rights in any such decisions.

7.2. Any person who is banned from entering a racecourse and/or ‘warned off’ by the BHA, cannot be a Member of the Racing Club.

7.3. Membership is for personal use only. Limited companies and partnerships cannot become Members and membership cannot be utilised for any commercial purpose.

7.4. Members shall comply with any code of conduct that may be issued by the Racing Club.

7.5. Members must be aged 18 or over.

7.6. It is understood, agreed and acknowledged by the Member that;

a) Full legal and equitable title to the horses and all such other horses acquired or owned by the Racing Club from time to time shall remain at all times with the Racing Club;

b) at no time does the Member have a legal or equitable interest (or any share thereof) in any one or more of the horses acquired or owned by the Racing Club;

c) all rights conferred upon a Member by the Racing Club are personal to the Member alone and may not under any circumstances whatsoever be transferred, gifted, sold, assigned, leased, form part of a loan, offered or granted as security to any third parties;

d) Members may not sell any tickets to any Event to any third party; and

e) The Racing Club reserves the right to amend these Conditions at any given time.

8. EVENT ATTENDANCE

8.1. Where a Member regularly fails to abide by the relevant dress code for any Event or acts in a manner which could cause harassment, embarrassment, offence or distress to another person, or warned due to the abuse of alcohol at any Event at which other Members are attending, the offending Member may be instantly barred from attending the Event and/or any future Events and may not be barred from renewing his/her Membership. The decision of the Company in such circumstances shall be final and binding.

8.2. Events are subject to cancellation at short notice. The Company shall not be responsible or liable if any Event is affected by weather or any reason beyond its control.

8.3. The Company, and/or the Event venue owner, reserves the right to abandon or cancel an Event without notice and without being liable to pay compensation other than, at its sole discretion, issuing a refund up to a maximum amount of the Event ticket price.

8.4. Any refund offered to a Member in relation to an Event may be subject to an administration fee.

8.5. The Company, and/or the Event venue holder, reserves the right to make changes to the Event details advertised without prior notice.

8.6. Attending any Event is at the ticket holder's own risk, and no responsibility can be accepted by the Racing Club or the Company for any accident/injury or loss/damage to property. By attending an Event, the ticket holder gives the Company and/or the Event venue holder their consent to use their image or likeness in any live or recorded video display, photo/picture, publicity material or website.

8.7. Should there be an issue with your enjoyment of an Event, a Member should bring this to the immediate attention of the Company, or any Racing Club staff onsite at the Event, who will endeavour to rectify any problem as soon as possible.

8.8. The Company reserves the right to refuse entry to an Event, future bookings, and may eject Members and/or their guests from a venue or Event, for any reason deemed appropriate.

9. MANOR HOUSE STABLE VISIT

9.1. The visit to Manor House stable will be on a date and at a time arranged by the Company on one (1) date per calendar year. The Racing Club will endeavour to make the date on which the visit takes place as convenient as possible for the majority of Members. If any Member is unable to attend the Manor House stable visit the Company will not be under any obligation to arrange a replacement date.

9.2. Members and their guests are not permitted to bring food and drink within the proximity of horses at any time.

9.3. Refreshments are will be made available, but any food or drink purchased must not be consumed within the proximity of horses. Smoking and/or the consumption of alcohol is strictly prohibited at all times at stable visits.

10. LIMITATION OF LIABILITY

10.1. The following provisions set out the entire liability of the Company (including any liability for the acts or omissions of its employees, agents and sub-contractors) of the Company in respect of any breach of the Contract, any representation, statement or tortious act or omission, including but without limitation, negligence arising under or in connection with the Contract or the operation of the Racing Club.

10.2. Subject to clause 10.4 the total liability of the Company under the Contract shall be limited to the Membership Fee paid by the Member in the calendar year of such claim against the Company.

10.3. Subject to clause 10.4, the Company will not be liable to the Member in contract, tort or otherwise for any loss of use, loss of profit, loss of anticipated profit, any damage to the Member’s reputation or good will or any other economic, special, indirect or consequential loss or damage of any kind (even if the Company has been advised of such loss or damage) arising out of or in connection with the Member’s membership and the Contract.

10.4. Nothing in the Contract or these Conditions shall exclude or limit the liability of the Company for any death or personal injury caused by the Company’s negligence or from fraudulent misrepresentation.

10.5. The provisions of this clause 10 shall survive the termination or expiry (for whatever reason) of the Contract.

11. INTELLECTUAL PROPERTY

11.1. The ownership of and sole rights to obtain the ownership of all Intellectual Property associated with the Racing Club shall at all times be vested in the Company and the Company shall be responsible for the registration and other protection of such Intellectual Property as the Company deems fit.

11.2. The Member shall not use the Racing Club’s name, logo or any other identification marks for the purpose of advertising or publicity without the Company’s prior written consent.

11.3. Copyright of all published material relating to the Racing Club is the property of the Racing Club. All materials submitted by Members (letters to the editor, photographs etc) must be their own work and a full and unencumbered licence to use, print and publish the same shall be granted to the Company to be used by the Racing Club.

11.4. The Company has processes in place to comply with General Data Protection Rights “GDPR”. For full information, please refer to the 'Privacy Policy' which is on the Racing Club website, or available by request.

12. CUSTOMER’S DEFAULT

12.1. Without prejudice to any of its other rights or remedies, the Company shall have the right to terminate the Contract and your membership immediately at any time by giving notice in writing to the Member if:

a) the Member commits a material breach of any of its obligations under the Contract or any breach of these Conditions which is not capable of remedy; or

b) the Member has committed a material breach of any of its obligations under the Contract or any breach of these Conditions which is capable of remedy but which has not been remedied within a period of thirty (30) days following receipt of written notice to do so; or

c) the Member enters into any compromise or arrangement with its creditors, or if an order is made or an effective resolution is passed for its winding up (except for the purposes of amalgamation or reconstruction as a solvent company) or if a petition is presented to court, or if a receiver, manager, administrative receiver or administrator is appointed in respect of the whole or any part of the Member undertaking or assets.

13. FORCE MAJEURE

13.1. The Company shall not be liable to the Member or be deemed to be in breach of the Contract by reason of any delay in performing, or any failure to perform, any of its obligations in relation to the Contract or to these Conditions if the delay or failure is due to any act beyond the Company’s reasonable control, including but without limitation, any Act of God, explosion, inclement weather, flood, tempest, fire or accident; war or threat of war, sabotage, insurrection, civil disturbance or requisition, regulations, bye-laws, prohibitions or measures of any kind on the part of any government or local authority, import or export regulations or embargoes, strikes, lock-outs or other industrial actions or trade disputes or power failure.

13.2. If by any of the reasons detailed in clause 13.1 the Racing Club is or anticipates that it will be prevented or hindered from performing any of its obligations under the Contract, then the Company shall notify the Member immediately and the Member shall be entitled if such event subsists for a period of three (3) months or more, to cancel or suspend the Contract by giving notice in writing to the Company.

13.3. In the event of cancellation or suspension of the Contract pursuant to clause 13.2, the Company shall be under no liability or obligation to the Member and the Member shall be relieved of its obligations to the Company for the period of such suspension.

13.4. In the event of cancellation or suspension of the Contract pursuant to clause 13.2, the Company shall repay to the Member that part of the Fee paid (if any) in respect of any period or periods affected by such cancellation or suspension apportioned on a basis which shall in the opinion of the Company shall be fairly and reasonably attributable to such cancellation or suspension.

14. ASSIGNMENT AND SUBCONTRACTING

14.1. The Member will not without the prior written consent of the Company assign or transfer the Contract or any part of it to any other person.

14.2. The Company may without the prior written consent of the Member assign, transfer or subcontract the Contract or any part of it to any other person.

15. NOTICES

Notices under these Conditions shall be deemed to be served on delivery when delivered by hand, on receipt of a printout confirming due transmission when transmitted by facsimile, or three (3) days after mailing if sent by mail, provided the postage is properly paid and such notice is correct addressed to the respective party at its registered office, or such other address as shall have been notified to the other party in writing.

16. NO WAIVER

No waiver by the Company of any breach of the Contract or of these Conditions by the Member shall be considered as a waiver of any subsequent breach of the same or any other provision of the Contract.

17. NO PARTNERSHIP OR JOINT VENTURE

Nothing in the Contract or these Conditions shall constitute or be construed as constituting a partnership or joint venture between the Company and the Member or shall authorise the Member to enter into contractual relationships or incur obligations on behalf of the Company.

18. SEVERANCE

If any provision of the Contract or these Conditions is held by any regulatory authority or a court of law to be invalid or unenforceable in whole or in part the remaining provisions of the Contract and the provisions of these Conditions shall remain in full force and effect.

19. CONTRACT (RIGHTS OF THIRD PARTIES) ACT 1999

An entity which is not expressly a party to the Contract has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of the Contract or these Conditions.

20. ENTIRE AGREEMENT

20.1. These Conditions represent the entire agreement between the Parties relating to the Member’s membership of the Racing Club and the Contract entered into between the Company and the Member and supersede all prior agreements, arrangements and understandings relating to the Member’ membership of the Racing Club.

20.2. The Member agrees that it will have no remedy in respect of any untrue representation innocently or negligently made by or on behalf of the Racing Club prior to entering into the Contract upon which the Member relied in entering into the Contract, whether such representation was made orally or in writing. Nothing in the Contract or these Conditions will exclude or limit the liability of the Racing Club for fraudulent misrepresentation.

21. GOVERNING LAW

The Contract and these Conditions shall be governed by and construed in accordance with the laws of England and Wales and the Member agrees to submit to the exclusive jurisdiction of the English courts.

PRIZE MONEY

WORKED EXAMPLE

When a Member joins the Racing Club, they will be automatically allocated a 1/500 share each month of any prize money earned from the 1st day of the following calendar month from the date on which they become a Member for the remainder of their Annual Membership Period.

Provided that the Member remains a member for the full twelve (12) month duration of their Annual Membership Period, the 1/500 share that has been allocated to that Member at the end of their Annual Membership Period shall then be paid by the Racing Club to the Member within sixty (60) days following the expiration of their twelve (12) months Annual Membership Period of the respective Member.

For example:

A Member who joins the Racing Club on 10th February 2019, will receive the benefits of membership from the day on which they join, save for the calculation of any prize money which shall only accrue from 1st March 2019 – 28th February 2020. The Member shall then be paid their 1/500 share of the net prize money of the Racing Club calculated by the Racing Club for the period 1st March 2019 – 28th February 2020, payable within 60 days of the 28th February 2020.