Preferred Referral, LLC Agent Agreement

This agreement by and between Preferred Referral, LLC, hereafter referred to as Broker and Hereafter referred to as Referral Associate for and in consideration of their mutual promises and for their mutual benefits. Witnesseth: that WHEREAS, the Broker is licensed and authorized to engage in business as a Real Estate Broker in the state of North Carolina and WHEREAS, it is deemed to be the mutual advantage of the broker and the Referral Associate to form the association hereinafter agreed to, THEREFORE 1. The Referring Associate shall be a licensed Real Estate Broker or Salesman affiliated with Preferred Properties. 2. The Referring Associate acknowledges that he or she understands that the Broker has agreed to refer to a real estate company licensed as a real estate broker all prospective buyers and sellers of real property which come to the attention of Preferred Properties of Asheville. 3. The Referring Associate understands that he or she will not (a) accept any listings of Real Property, (b) show any property, (c) act as a buyers or sellers Agent in the sale or purchase of any real property, (d) accept any deposits, (e) quote any terms or conditions (including the amount of commission) for the listing or selling or any real estate property: but rather, all such prospective buyers and sellers of real Property shall be referred to Broker, who in turn will refer said Buyers and Sellers to a licensed real estate company. 4. The Referring Associate agrees to comply with all provisions of the Real Estate Licensing Law and the rules and regulations of the North Carolina Real Estate Commission. 5. The Referring Associate shall receive as compensation for his or her services the following referral splits: a. Referrals to agents within Preferred Properties, the referring associate would receive 70/30 split of the referral fee earned for the 1st referral that closes within a calendar your. If the Referring Associate has 5 referrals that close within the same calendar year they will receive a 75/25 split on this 5th referral and all referrals that follow within the calendar year. As of January

1 of the next year, the referral split will return to 70/30 for the 1st closed referral and the same fee schedule would begin again as noted above. However, if the Referring Associate had 5 or more referrals close within the calendar year the will start this new calendar year at the 75/25 split level. b. Referrals that are sent to other companies outside of Preferred Properties, the agent will receive a 70/30 split of the referral fees received after a 40% network fee is deducted from the gross referral proceeds. Referrals outside of Preferred Properties will count toward the Referring Associates unit schedule outlined above. 6. The Referring Associate shall not receive any referral fee, commission, or other compensation for real estate transactions except directly from the Broker or with written permission of the Broker. 7. This agreement shall continue in full force and effect until terminated in writing by either party hereto. If the Referring Associate terminates their relationship with Preferred Referral and they have a referral pending, the Referral Associate will be paid the appropriate referral fee in full upon the close of the property. 8. The Referring Associate agrees that during the period of his or her association with the Broker, he or she will keep in full force and effect, his or her license to act as a real estate broker. The Broker agrees that, during the period of such association, he/she will keep in force and effect his/her license to act as a real estate broker. Failure of either party to keep his or her license in full force and effect shall cause this Agreement to terminate automatically, as of the date of when either license expires, is revoked or is cancelled. 9. It is understood that the Referring Associate shall be an independent contractor and this Agreement shall not constitute a hiring of an employee by either party. It is further understood and agreed that each party hereto shall be separately and independently liable for the payment of all taxes and fees to the United States or any State arising from his/her activity as a real estate broker; and neither party hereto shall be liable for the taxes or fees of any nature of the other party. 10. The Referring Associate agrees to indemnify and hold Broker harmless from all claims, demands and/or other liabilities, including costs and attorneys fee to which the Broker is subjected by reason of action by the Referring Associate taken or pursuant to the agreement. 11. The Broker shall not be liable to the Referral Associate for any expenses incurred by the Referral Associate, nor shall the Referral Associate be liable to the Broker for any expenses incurred by the Broker. 12. It is agreed and understood that as an independent contractor, the Referring Associate will receive no salary or compensation other than referral fees herein described. The Broker shall not be required to provide office facilities for the

Referring Associate, however, the Referring Associate shall be welcome in all Preferred Properties offices. The Referring Associate shall, at his or her discretion, determine the amount of time and particular hours, which he or she devotes to his or her activities as a Referring Associate. 13. The Referring Associate will deposit his or her real estate license with the Broker and it will be available for review in the Brokers office at all times during the terms of this agreement. 14. It is understood that the Referring Associate is not an active Realtor and may not use the term Realtor to describe himself or herself. If the Referring Associate becomes affiliated with the National Association of Realtors or any local affiliate organization, this Agreement shall automatically be terminated. IN WITNESS WHEREOF, the parties hereto have signed this Agreement this day, month and year first above set out. Preferred Referral, LLC By: Terry Horner Broker-in-Charge, Preferred Referral, LLC Christy M. Cook, 2011 Referring Associate Signature