Terms & Conditions

MBYC offers a membership program as, the attached Schedules and the rules and regulations promulgated from time to time by MBYC included herein as Schedule B; and WHEREAS, Member desires to participate in such membership program provided by MBYC.

NOW THEREFORE, in consideration of the mutual promises contained herein, the parties agree as follows:

Membership: MBYC shall provide access to yachts from the MBYC fleet on an availability basis at the applicable member rates then in effect. Such rates, however, shall be subject to change by MBYC when deemed necessary although not during any term hereunder with respect to this Agreement with the Member.

Member Responsibilities: Members are not responsible for operating the yachts and will have a professional captain on board and will in all cases defer to the captain of the yacht. Members agree not not to damage the yacht through their gross negligence, negligence or while under the influence of alcohol or drugs; this provision also applies to every family member and guest of the Member on the yacht.

Yacht Condition and Maintenance: Members agree to return any yacht used in an outing by the Member or its family to MBYC in at least in the same condition as at the beginning of an outing, accounting for normal wear and tear. Prompt reporting of any damage to the yacht or its equipment is mandatory, ensuring timely resolution by MBYC.

Initiation Fee: The Initiation Fee shall be due and payable as of the date of this Agreement indicated on the first page hereof and is non-refundable.

Membership Dues; Term: The first installment of monthly or quarterly Membership Dues or the pre- payment of the Annual Membership Dues up front, as applicable, shall be due and payable as of the date of this Agreement indicated on the first page hereof. Said date is also the Effective Date of this Agreement for purposes of the term of this Agreement. The term of this Agreement shall be for a minimum period of 12 months from the Effective Date, at which time this agreement shall remain in effect until cancelled by Member or MBYC. If Member elects to terminate this agreement, Member may do so after first giving 30 days written notice to MBYC. Failure of Member to give written notice of cancellation constitutes an agreement between Member and MBYC to continue this agreement according to all terms and conditions contained herein for another annual term. Member may, however, choose to alter the timing of the Annual Membership Dues by giving notice to MBYC prior to the renewal term. Termination by the Member during or at the end of a term does not release the Member from payments for any remaining Membership Dues or monthly expenses incurred.

Safety Equipment: Member agrees to adhere to all safety guidelines provided by MBYC.

Compliance with Government Regulations: Member agrees that all yachts provided by MBYC will be used in strict compliance with all applicable federal, state, and local regulations as promulgated by the Department of Transportation, Miami-Dade County, United States Coast Guard, United States Customs and all other governmental bodies.

Recreational Use Only: Member agrees that each yacht provided by MBYC will be used exclusively for recreational purposes and will not be used for any illegal purpose or in any illegal manner.

Insurance: Member agrees to comply with all conditions to coverage of any yacht provided by MBYC. In the event of any damage involving any yacht provided by MBYC, Member agrees to furnish MBYC with a complete report of the same immediately in writing.

Indemnity: Member shall be liable to MBYC for any liability, loss, or damage caused or incurred in connection with the operation of any yacht provided by MBYC if said liability, loss, or damage is not covered by any applicable insurance. Member also agrees immediately on demand to pay to MBYC the amount of any deductible for any damage covered, but not paid in full, by insurance. Member agrees to release and discharge Miami Beach Yacht Club, LLC, its owners, officers, agents, managers, employees, contractors, and boat owners from any and all claims for liability, property damage, injury, illness, death, costs, medical or other expenses or any other damages claimed to be partially or solely arising from Miami Beach Yacht Club, LLC’s acts, omissions, or negligence. Member holds MBYC harmless from all claims, actions, proceedings, damages, and liabilities arising from or in connection with the possession, use, or return of any yacht provided by MBYC.

Waiver and Release for Yachting Activities: The member recognizes that engaging in yachting activities includes inherent risks. Those risks include a broad range of things that can happen while on board a yacht, such as accidents, weather, collisions, or injuries. Member chooses to participate in this activity despite those risks. Member, therefore, agrees to assume all risks that may occur in connection with these activities resulting in any harm, damages, injury, illness, or death to oneself. Member agrees to release and discharge MBYC, its owners, officers, agents, managers, and employees harmless from any and all claims for liability, property damage, injury, illness, death, costs, medical or other expenses, or any other damages claimed to be partially or solely arising from MBYC’s acts, omissions, or negligence. Member agrees, by signing this Membership Application, that Member has read, understood, and was not rushed or pressured in any way into agreeing to its terms and is aware of the legal consequences of signing this document. The member recognizes that they have the option of simply not participating in MBYC’s yachting activities if the Member decides not to agree with and be bound by these terms.

No assignability: This Membership Contract shall not be assignable by the member unless to a direct family member, father, mother, son or daughter above the age of 21. All contact information and list of Family Members who access to MBYC’s fleet under the Member’s membership is attached hereto after the signature page.

Binding Effect: Any Membership or Contract shall be binding upon and inure to the benefit of each of the parties hereto and their respective heirs, executors, administrators, and successors in interest.

Notices: Any and all approvals, consents, and notices given hereunder shall be sufficient if furnished in writing to the addresses subscribed in this Contract. Email is acceptable communication.

Bank Authorizations: For the purposes delineated under this Contract, I hereby authorize MBYC to submit a sales slip to be charged against my MasterCard or Visa account or ACH bank account as indicated in the attached Authorization Form or via telephone.

Sales Tax: Unless otherwise provided herein, the Initiation Fee and Annual Dues and any other charges by MBYC to the Member do not include any taxes, levies, duties, or similar governmental assessments of any nature including, but not limited to, value-added, sales, use or withholding taxes, assessable by any local, state, provincial, federal or foreign jurisdiction (collectively, “Taxes”). The Member is responsible for paying all Taxes associated with your membership hereunder. If MBYC has the legal obligation to pay or collect taxes for which the Member is responsible under this Clause, the appropriate amount shall be invoiced to, and paid by the Member, unless the Member provides MBYC with a valid tax exemption certificate authorized by the appropriate taxing authority. For purposes of clarification, MBYC is solely responsible for any taxes assessable against it based upon its income, property, and/or employees.

MBYC Rules and Regulations: MBYC may cancel this agreement at any time if MBYC’s Rules and Regulations are not met by the Member and his, her or its guests, which will cause members to lose their Initiation Fee and any Membership Dues paid. Said Rules and Regulations are attached hereto as Schedule B.

SCHEDULE A: MBYC MEMBERSHIP PLANS

Miami Beach Yacht Club (MBYC) offers a variety of membership options tailored for enthusiasts of luxury yachting, with a range of yacht sizes starting over 60 feet. All Members have no limitation on the number of outings on yachts in the fleet at the relevant Membership Level, rather are limited only by the number of reservations a member can have at any one time as described below for each Membership Level. Dues must be paid in advance, not in arrears. Size range is set by the manufacturer model’s published size.
Size range per Membership Levels can be changed in the reasonable discretion of the Club..

 Miami Beach Yacht Club – Gold Membership

– Annual Membership Dues: $60,000*

• If Paid Monthly: $5,000

• If Paid Quarterly: $15,000

– Yacht Access: Up to including 74 ft

– Initiation Fee: $25,000 (one-time)

– Gold members can have up to four (4) bookings at once on the calendar, with two (2) on weekends (non-consecutive, with one slot per weekend) and two (2) on weekdays.

 Miami Beach Yacht Club – Platinum Membership

– Annual Membership Dues: $90,000*

• If Paid Monthly: $7,500

• If Paid Quarterly: $22,500

– Yacht Access: Up to and including 84 ft

– Initiation Fee: $50,000 (one-time)

– Platinum members are allowed eight (8) concurrent reservations on the calendar, with four (4) on weekends (one
slot per weekend) and no more than two (2) on weekdays per week. Includes access to priority booking (out-ofseason
booking and advance calendar) and yacht upgrade requests.

 Miami Beach Yacht Club – Diamond Membership

– Annual Membership Dues: $120,000*

• If Paid Monthly: $10,000

• If Paid Quarterly: $30,000

– Yacht Access: Up to and including 100 ft

– Initiation Fee: $100,000 (one-time)

– Diamond members can make twelve (12) concurrent reservations on the calendar, with six (6) on weekends (one slot per weekend) and no more than three (3) on weekdays. May book one (1) full day per week on weekdays only (full day booking uses two (2) booking slots and full day bookings can only be granted two (2) times per calendar month. Carries a maximum of five (5) booking slots per week.
Includes access to priority booking (out-of-season booking and advance calendar).

 Additional Perks for Members (for additional charge)

Access to exclusive events like regattas, music festivals, and holiday parties. Spa services available on request that include, facials, massages, therapies and more… Gourmet dining experiences with top chefs and caterers, including options for private events. Access to exclusive sport-fishing expeditions and adventure cruising on the club’s yachts for unique overnight experiences on demand. Overnight stays can be accommodated by special request based on availability.

 MBYC App and Member Services:

The MBYC App is available for Members to manage and reserve outings. New Members receive a unique link for desktop and app access. In addition, Members can call or message the MBYC Member Services team for assistance with booking trips, harbor locations, catering, and any special requests. The day before each outing, Captains will call to introduce themselves, confirm pick-up points, timing, and discuss outing details.

SCHEDULE B: MBYC RULES & REGULATIONS

Members hereby acknowledge that they have access to these MBYC’s rules and regulations, subject to periodic amendments, and have read them and familiarized themselves with them. These rules and regulations are integral to this Membership Agreement and binding on members. Members may not leave the dock without being checked out with the dock master and may not return unless the dock master is present and ready for their arrival. Please review and adhere to these rules and regulations as a member of Miami Beach Yacht Club. Violation of these rules may result in disciplinary actions, including suspension or termination of membership.

Payment and Disputes: All Membership Dues, or other fees or charges, must be paid in full before departure. Club members will not be permitted to sail with an outstanding balance, or if a matter is under dispute. The Club does not send bills or statement for the Membership Dues, just for monthly running expenses.

Cancellation and Change Policy: A 24-hour notice is required for cancellations or changes to boat reservations for each day the boat is reserved. Insufficient cancellation notice may result in a $1000 cancellation fee to the extent MBYC has incurred expenses for such Member’s outing. . Members may cancel a boat reservation within 24 hours without a penalty due to forecasted rain. MBYC may cancel any scheduled outing in the event of unsafe conditions, such as a small craft advisory; in which event there will be no charge to the Member or penalty to MBYC.

Cruising Area: The Member shall restrict the cruising of the Yacht to the Cruising Area designated by the captain and to areas within the Cruising Area in which the Yacht is legally permitted to cruise. Members are required to be knowledgeable about the navigational dangers of the Cruising Area, including impact of tides and weather. The Member shall also restrict time under way to an average of four (4) hours per half-day Outing, unless the captain, in his or her sole discretion, agrees to exceed this time; or eight (8) hours per whole day outing, unless the captain, in his or her sole discretion, agrees to extend this time. Member agrees that the Yacht shall be used exclusively as an uninspected passenger yacht and shall not transport cargo, nor engage in trade, nor violate any laws of the United States or any jurisdiction in which the yacht may be traveling. The Yacht shall not navigate beyond the navigation limits set forth in the yacht’s insurance policy without prior approval by the yacht’s insurer. The Yacht shall not navigate where not legally permissible due to the flag of the Yacht or restrictions on the Yacht. The Yacht shall comply with all laws, rules and regulations of government agencies of the United States, individual states, and other jurisdictions where the Yacht may travel, including federal and state parks, sanctuaries and protected areas. Captain shall be responsible for compliance and Member shall abide by Captain’s decisions in this regard. For the avoidance of doubt, notwithstanding the term of the Membership Period during which the Member may engage in Outings, in no event shall Member be furnished the Yacht (or be deemed to have rented the Yacht) for longer than 30 days.

Boarding Party: The Member shall not at any time during an outing on a Yacht permit more than the Coast Guard maximum number on board (including captain & possible crew). If children are taken on board, the Member shall be fully responsible for their conduct and entertainment and no member of the Crew shall be held responsible for their conduct or entertainment. Member is responsible for any damage to the yacht resulting from Member’s guests or conduct. The nature of a Membership may render it unsuitable for anyone with physical disability or undergoing medical treatment. By signature of this Agreement the Member warrants the medical fitness of all members of the Member’s party for the voyage contemplated by this Agreement.

Captain Authority and Crew: A professional Captain will be required for the Yacht for an outing. The captain shall be appropriately licensed, qualified, knowledgeable and familiar with the Yacht and waters of the area and have sufficient expertise and experience to manage and handle the Yacht safely and competently. The captain shall operate the Yacht only for lawful purposes and shall abide by all applicable rules, regulations and laws of the United States and any jurisdiction in