Document:

bvtk_ex101.htm

EXHIBIT 10.1

 

Joint Venture Agreement 

 

This Joint Venture Agreement (“Agreement”), is made effective as of this 21st day of December, 2017, by and between Bravatek Solutions, Inc., a Colorado corporation (“Bravatek”), and The Go Eco Group, a Nevada corporation (“LIBE”). The parties are hereinafter sometimes referred to together as the “Joint Venturers” or the “Parties” and individually as a “Joint Venturer” or “Party.” 

 

WHEREAS the Parties wish to establish a Joint Venture and enter into an agreement to carry out the purpose of the Joint Venture and to define the respective rights and obligations of the Parties with respect to the Joint Venture. 

 

NOW THEREFORE, in consideration of the mutual promises, covenants, warranties and conditions herein, the Joint Venturers agree as follows: 

 

1. Name. The parties hereby form and establish a Joint Venture to be conducted under the name of CI/KRBVTK, LLC (hereinafter referred to as the “Joint Venture”), which shall be organized as a limited liability company under the laws of the State of Delaware. The Joint Venturers agree that the legal title to the Joint Venture property and assets, including the Joint Venture itself, shall remain in the name of the Joint Venture. 

 

2. Place of Business & Term. The principal place of business of the Joint Venture shall be located at 15 Elvis Blvd, Chester, NY 10918. The term of the Joint Venture shall commence on the execution date hereof and shall continue until the Parties mutually agree to dissolve the Joint Venture, provided, however, that the Joint Venture shall be dissolved prior to such agreed upon date upon the sale or disposal of the Joint Venture and the payment or satisfaction of all debts of the Joint Venture. Notwithstanding anything to the contrary herein, the Parties shall form the Joint Venture, execute and file definitive Articles of Organization for the Joint Venture, and enter into a definitive operating agreement governing the Joint Venture and the rights and obligations of the Parties with respect thereto, with the terms of the fully executed operating agreement replacing and superseding in its entirety this Agreement. 

 

3. Purpose. The Joint Venturers form this Joint Venture to develop, market and sell products , services and technology based on a web-enabled Light Guard System (the “System”). To the extent set forth in this Agreement, each of the Joint Venturers shall own an undivided fractional part in the business. The Joint Venture shall not engage in any other business or activity without the written consent of the Joint Venturers. 

 

4. Capital. Separate capital accounts shall be maintained for each Joint Venturer and shall consist of the sum of its contributions to the capital of the Joint Venture plus its share of the profits of the Joint Venture, less its share of any losses of the Joint Venture, and less any distributions to or withdrawals made by or attributed to it from the Joint Venture. 

 

	 
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The initial cash contributions from each of the Joint Venturers, for the purpose of this Joint Venture, is the sum set after the name of each Joint Venturer as follows: 

 

LIBE $100.00 

Bravatek $25,000.00 

 

In addition to the above sums, LIBE shall grant the Joint Venture an irrevocable royalty-free non-exclusive license to use all of LIBE’s direct and/or licensed intellectual property necessary for the Joint Venture to develop and sell the System. The Parties also agree that the Joint Venture shall immediately at inception issue a binding purchase order to Bravatek for software development for the System, at a price of $65,000 due to Bravatek and with payment terms of no longer than net 60 days, and Bravatek shall subsequently make every reasonable effort to ensure that such System, once complete, is listed on the SEWP government-wide acquisition contract. 

 

The Joint Venturers shall subsequently make such other capital contributions required to enable the Joint Venture to carry out its purposes as set forth herein as the Joint Venturers may mutually agree upon. 

 

The Joint Venturers shall arrange for or provide any additional financing as may be required by the Joint Venture for carrying out the purposes of the Joint Venture. The terms and conditions of all such financing shall be subject to prior approval of each of the Joint Venturers. The Joint Venturers shall endorse, assume, or guarantee such obligations of the Joint Venture as the Joint Venturers may mutually agree upon. 

 

5. Percentage Interest in the Joint Venture. The respective percentage interest in the Joint Venture owned by each Joint Venturer, respectively, shall be as follows: 

 

Bravatek 35 Common Membership Units

LIBE 65 Common Membership Units 

 

6. Profits. The net profits as they accrue for the term of this Agreement, or so long as the Joint Venturers are the owners in common of the business interest, shall be distributed between the Joint Venturers, based on the respective percentage interests in the Joint Venture owned by each Joint Venturer.

 

7. Expenses of Venture. All losses and disbursements in acquiring, holding and protecting the business interest and the net profits shall, during the period of the venture, be paid by the Joint Venture. 

 

8. Management of Joint Venture. Thomas A. Cellucci and Brian P. Conway shall be the initial managers of the Joint Venture and shall manage the day-to-day operations of the Joint Venture. 

 

9. Powers of Joint Venturers. The following powers may be exercised only upon the consent of both of the Joint Venturers: 

 

(a) The power to borrow money on the general credit of the Joint Venture in any amount, or to create, assume, or incur any indebtedness to any person or entity; 

 

	 
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(b) The power to make loans in any amount, to guarantee obligations of any person or entity, or to make any other pledge or extension of credit; 

 

(c) The power to purchase or otherwise acquire any other property except in the ordinary course of business of the Joint Venture; 

 

(d) The power to sell, encumber, mortgage or refinance any loan or mortgage on any of the Joint Venture property; 

 

(e) The power to confess any judgment against the Joint Venture, or to create, assume, incur or consent to any charge (including any deed of trust, pledge, encumbrance or security interest of any kind) upon any property or assets of the Joint Venture; or

 

(f) The power to spend any amounts in excess of $5,000. 

 

10. Treatment of Proprietary and Confidential Information. 

 

(a) Definitions.

 

i. “Confidential Information” means nonpublic information that (a) the disclosing Party designates as confidential, or (b) which, under the circumstances surrounding disclosure, ought to be treated as confidential. Confidential Information may include, without limitation, Technology, Technology Improvements, Derivative Works, Intellectual Property Rights, Marketing Materials, ideas, know-how, methods, formulae, processes, designs, apparatus, devices, techniques, systems, flow charts, sketches, photographs, plans, drawings, specifications, computer programs or software, samples, studies, findings, data, reports, projections, plant and equipment expansion plans, lists or identities of employees, customers, financial statements or other financial information, pricing information, cost and expense information, product development and marketing plans, compositions of matter, discoveries and inventions (whether or not patentable), works of authorship (whether or not protected under copyright laws), information, algorithms, procedures, notes, summaries, descriptions, results and the like. 

 

ii. “Derivative Works” means works that are based upon one or more pre-existing works, such as: (a) for copyrightable or copyrighted material, any translation, portation, modification, correction, addition, extension, upgrade, improvement, compilation, abridgment, revision or other form in which such material may be recast, transformed, or adapted; (b) for patentable or patented material, any improvement thereon; and (c) for material that is protected by trade secret, any new material derived from such existing trade secret material, including new material that may be protected by any of copyright, patent, and trade secret. 

 

iii. “Intellectual Property Rights” means any and all patent, copyright, trademark, trade secret, know-how, trade dress or other intellectual or industrial property rights or proprietary rights (including, without limitation, all claims and causes of action for infringement, misappropriation or violation thereof and all rights in any registrations, applications and renewals thereof), whether existing now or in the future, whether worldwide or in individual countries or political subdivisions thereof, or regions, including, without limitation, the United States. 

 

	 
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iv. “Technology” means materials, packaging, products, know-how and methods of manufacturing thereof as provided by a Party herein, and including all Intellectual Property Rights embodied therein and any Derivative Works thereof. Technology further means, without limitation, any designs, materials, methods, formulae, processes, technology, apparatus, devices, techniques, systems, flow charts, sketches, photographs, plans, drawings, specifications, proprietary information, know-how, trade secrets, computer programs or software, samples, studies, findings, data, reports, projections, manufacturing specifications and methods, testing specifications and methods, pricing information, cost and expense information, product development and marketing plans, compositions of matter, discoveries and inventions (whether or not patentable), works of authorship (whether or not protected under copyright laws), information, algorithms, procedures, notes, summaries, descriptions and development results related to any materials, packaging, products, know-how and methods of manufacturing thereof. 

 

v. “Technology Improvements” means any proprietary information, know-how, trade secrets, programs, designs, processes, methods, formulae, compositions of matter, documents, materials, technology, data, Intellectual Property Rights, or Derivative Works in developments and/or conceptions created, obtained or developed by either Party alone (including through the efforts of any independent contractor or affiliate of that Party) or together with the other Party that: (a) are based on, derived from or are direct improvements to Technology, (b) can be used in or in the production of Technology, or (c) provide alternatives for use in the production of Technology that, if so used, reasonably would: (i) add Technology capability or increase Technology efficiency or quality, (ii) reduce Technology manufacturing or Technology costs, and/or (iii) facilitate the manufacturing of Technology. 

 

(b) In connection with the performance of this Agreement, each Party contemplates the disclosure by it of certain Confidential Information to the other Party. Each Party considers its Confidential Information to be an asset of substantial commercial value, having been developed at considerable expense, but will disclose such information to the other Party under the terms and conditions of this Agreement. 

 

(c) During the Term and continuing thereafter for 5 year(s) from the termination or expiration of the Agreement, the Party receiving Confidential Information (“Receiving Party”) from the disclosing Party (“Disclosing Party”) shall (i) treat all Confidential Information disclosed by the Disclosing Party as secret and confidential and shall not disclose all or any portion of the Confidential Information to any other Person, (ii) not use any of such Confidential Information except in the performance of the Receiving Party's covenants and obligations or otherwise as contemplated under this Agreement, and (iii) restrict access to Confidential Information to the Receiving Party's employees (including contractors, accountants and counsel and similar representatives) who have a need to know such information in connection with the performance of the Receiving Party's obligations and covenants under this Agreement and shall be responsible to ensure that such employees maintain the terms of confidentiality and nonuse as required in this Agreement.

 

	 
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(d) In the event that either Party desires to use a third party service provider (“Service Provider”), including, for example, an engineering design firm or a contract manufacturer, to develop or produce the Product using Technology or Technology Improvements, all Parties to this Agreement must first enter into at least an acceptable non-disclosure and technology ownership agreement with the Service Provider. Neither Party to this Agreement may disclose any Confidential Information to a Service Provider unless (i) both Parties to this Agreement have individually entered into a non-disclosure agreement with the Service Provider and (ii) the Service Provider has a presence in the United States and is able to be served legal documents in the United States or agrees, in writing, that it can be served and that United States Courts have personal jurisdiction over the Service Provider. 

 

(e) Notwithstanding anything to the contrary herein, Confidential Information shall not include any information that: (i) is presently in the Receiving Party's possession, provided that such information has not been obtained from the Disclosing Party and that such possession can be demonstrated by the Receiving Party's written records; (ii) is, or becomes, generally available to the public through no act or omission of the Receiving Party; (iii) is received by the Receiving Party in written form from a third party having no binding obligation to keep such information confidential; or (iv) is required to be disclosed by law, upon the advice of legal counsel.

 

(f) Specific Confidential Information shall not be deemed to be available to the public or in the possession of the Receiving Party merely because it is embraced by more general information so available or in said Receiving Party's possession, nor shall a combination or aggregation of features which form confidential information be deemed to be non-confidential merely because the individual features, without being combined or aggregated, are non-confidential. 

 

(g) Each of the Parties hereby agrees that all written or other tangible forms of Confidential Information (including any materials generated by the Receiving Party related to any Confidential Information) shall be and remain the property of its owner and shall be promptly returned to the owner upon the written request of the owner. 

 

(h) Neither the Agreement nor the disclosure of any information by the Disclosing Party shall be deemed to constitute by implication or otherwise, a vesting of any title or interest or a grant of any license, immunity or other right to the Receiving Party with regard to the Confidential Information. Additionally, except as expressly provided in this Agreement, the execution of the Agreement shall not operate, directly or indirectly, to grant to either Party any rights under any patent, trade secret or know-how now or hereafter owned by or licensed to the other Party. 

 

	 
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(i) Each Party warrants that it is the rightful owner of the Confidential Information to be disclosed under this Agreement and that it has the lawful right to make such disclosure. 

 

(j) In the event that the Receiving Party or any of its representatives are requested or required to disclose Confidential Information pursuant to a subpoena or an order of a court or government agency, the Receiving Party shall (i) promptly notify the Disclosing Party of the existence, terms and circumstances surrounding the governmental request or requirements; (ii) consult with the Disclosing Party on the advisability of taking steps to resist or narrow the request; (iii) if disclosure of Confidential Information is required, furnish only such portion of the Confidential Information as the Receiving Party is advised by counsel is legally required to be disclosed; and (iv) cooperate with the Disclosing Party in its efforts to obtain an order or other reliable assurance that confidential treatment be accorded to that portion of the Confidential Information that is required to be disclosed. 

 

(k) Because money damages may not be a sufficient remedy for any breach of this Section of the Agreement by the Receiving Party, the Disclosing Party shall be entitled to seek equitable relief, including injunction and specific performance, as a remedy for any such breach of this Section. Such remedy shall not be deemed to be the exclusive remedy for a breach of this Section of the Agreement by the Receiving Party, but shall be in addition to all other remedies available at law or equity to the Disclosing Party. In the event of litigation relating to the Agreement, if a court of competent jurisdiction determines that the Receiving Party has breached this Section of the Agreement, then the Receiving Party shall be liable and pay to the Disclosing Party the reasonable attorneys' fees, court costs and other reasonable expenses of litigation, including any appeal therefrom. The Receiving Party further agrees to waive any requirement for the posting of a bond in connection with any such equitable relief. 

 

11. No Liability to Third Parties. The debts, obligations and liabilities of either Joint Venturer, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of such Joint Venturer, and no other Party shall be obligated for any such debt, obligation or liability of such Joint Venturer solely by reason of being a party to this Agreement or an equity holder of the Joint Venture. 

 

12. Deadlock. In the event the Joint Venturers are divided on a material issue and cannot agree on the conduct of the business and affairs of the Joint Venture, then a deadlock between the Joint Venturers shall be deemed to have occurred. Upon the occurrence of a deadlock, one Joint Venturer (hereinafter referred to as the “Offeror”) may elect to purchase the Joint Venture interest of the other Joint Venturer (hereinafter referred to as the “Offeree”) at a price calculated as the Offeree's percentage interest in a total purchase price for all of the assets of the Joint Venture. The Offeror shall notify the Offeree in writing of the offer to purchase, stating the total purchase price for all of the assets of the Joint Venture, and the price offered for the Offeree's Joint Venture interest expressed as the Offeree's percentage interest in the Joint Venture assets multiplied by the total purchase price for all of the assets of the Joint Venture. The Offeree shall have the right to buy the interest of the Offeror at the designated price and terms, or to sell the Offeree's interest to the Offeror at the designated price and terms, whichever the Offeree may elect. The offer, when made by the Offeror, is irrevocable for thirty (30) days. The Offeree shall have ten (10) days from the receipt of such offer to make its election, that is, either to buy such interest of the Offeror or to sell its own interest, which shall be made in writing executed by the Offeree and stating the nature of the election. A Joint Venturer which is obligated to purchase the interest of another Joint Venturer pursuant to the provisions hereof shall have twenty (20) days from the date of receipt of the written election from such other Joint Venturer to pay the designated price and satisfy the terms of such purchase. Should the Joint Venturer who has received an offer to sell or buy fail to make the election required herein in a timely fashion, then such non-responding party shall be deemed to have elected and agreed to sell or buy, as the case may be, according to the terms of the offer. 

 

	 
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13. Legal Title to the Joint Venture. The Joint Venturers agree that the legal title to the Joint Venture property and assets, including the Joint Venture itself, shall remain in the name of the Joint Venture. 

 

14. Transfers of Joint Venturers' Interests. Except as otherwise expressly permitted herein, no Joint Venturer may sell, transfer, assign or encumber its interest in the Joint Venture, or admit additional Joint Venturers, without the prior written consent of the other Joint Venturer. Any attempt to transfer or encumber any interest in the Joint Venture in violation of this Section shall be null and void. 

 

The obligations and Rights of Transferees are as follows: 

 

(a) Any person who acquires in any manner whatsoever any interest in the Joint Venture, irrespective of whether such person has accepted and adopted in writing the terms and provisions of this Agreement, shall be deemed by the acceptance of the benefit of the acquisition thereof to have agreed to be subject to and bound by all the obligations of this Agreement that any predecessor in interest of such a person was subject to or bound by; and 

 

(b) The person acquiring an interest in the Joint Venture shall have only such rights, and shall be subject to all of the obligations, as are set forth in this Agreement; and, without limiting the generality of the foregoing, such a person shall not have any right to have the value of its interest ascertained or receive the value of such interest or, in lieu thereof, profits attributable to any right in the Joint Venture, except as herein set forth. 

 

15. Termination. Upon the termination or dissolution of the Joint Venture, the Joint Venturers shall proceed to liquidate the Joint Venture, and all proceeds of such liquidation shall be applied and distributed in the manner set above according to the interests held by each party in the Joint Venture. A reasonable time shall be allowed for the orderly liquidation of the Joint Venture's assets in order to minimize losses normally attendant upon such liquidation. 

 

16. Notice. Any notices to be given under this Agreement by either party to the other may be effected either by personal delivery in writing or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices must be addressed to the addresses of the parties as they appear in signature blocks of this Agreement. Each party may change its address by written notice in accordance with this paragraph. Notices delivered personally will be deemed communicated as of actual receipt; mailed notices will be deemed communicated as of 3 calendar days after mailing. 

 

	 
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17. Arbitration and Attorney's Fees. Any controversies or disputes arising out of or relating to this Agreement shall be resolved by binding arbitration in accordance with the then-current Commercial Arbitration Rules of the American Arbitration Association. The Joint Venturers shall select a mutually acceptable arbitrator knowledgeable about issues relating to the subject matter of this Agreement. In the event the Joint Venturers are unable to agree to such a selection, each party will select an arbitrator and the two arbitrators in turn shall select a third arbitrator, all three of whom shall preside jointly over the matter. The arbitration shall take place at a location that is reasonably centrally located between the Joint Venturers, or otherwise mutually agreed upon by the Joint Venturers. All documents, materials, and information in the possession of each party that are in any way relevant to the dispute shall be made available to the other Joint Venturer for review and copying no later than 30 days after the notice of arbitration is served. The arbitrator(s) shall not have the authority to modify any provision of this Agreement or to award punitive damages. The arbitrator(s) shall have the power to issue mandatory orders and restraint orders in connection with the arbitration. The decision rendered by the arbitrator(s) shall be final and binding on the Joint Venturers, and judgment may be entered in conformity with the decision in any court having jurisdiction. The agreement to arbitration shall be specifically enforceable under the prevailing arbitration law. During the continuance of any arbitration proceeding, the parties shall continue to perform their respective obligations under this Agreement. 

 

18. Miscellaneous Partition. The Joint Venturers hereby mutually waive any right of partition which they may have with respect to the Joint Venture and any noncash assets of the Joint Venture. 

 

19. Fees and Commissions. Each Joint Venturer hereby represents and warrants to the other that it has not incurred or obligated the Joint Venture for any brokerage, finder's or other similar fees or commissions in connection with the transactions covered by this Agreement or in connection with acquiring the Joint Venture or forming this Joint Venture. Each Joint Venturer hereby agrees to indemnify and hold harmless the other from and against all liabilities, costs, damages and expenses from any breach or alleged breach of the foregoing representation. 

 

20. Waiver. Failure on the part of either Joint Venturer to complain of any act of the other Joint Venturer or to declare the other Joint Venturer in default, irrespective of how long such failure continues, shall not constitute a waiver by such Joint Venturer of its rights hereunder. No waiver of, or consent to, any breach or default shall be deemed or construed to be a waiver of, or consent to, any future breach or default. 

 

21. Severability. If any provision of this Agreement or the application thereof shall be determined by a court of competent jurisdiction to be invalid and unenforceable, the remainder of this Agreement and the application of the other provisions herein contained shall not be affected thereby, and all such other provisions shall remain effective and in force and shall be enforced to the fullest extent permitted by law. 

 

22. Binding Effect. This Agreement shall inure to the benefit of and be binding upon the Joint Venturers, and their heirs, successors and assigns. 

 

	 
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23. Duplicate Originals. This Agreement may be executed in duplicate, with each such duplicate to be considered an original for all purposes. 

 

24. Construction of Agreement. (a) The captions contained in this Agreement are inserted only as a matter of convenience and in no way define, limit, extend or describe the scope of this Agreement or the intent of any provision thereof. (b) As used herein, the word “person” shall include the individuals, corporations, partnerships and other entities of any type. In this Agreement, the use of any gender shall be applicable to all genders, and the singular shall include the plural, and the plural shall include the singular. 

 

25. Other Activities of Joint Venturers. Any Joint Venturer may engage in other business ventures of every nature and neither the Joint Venture nor the other Joint Venturer shall have any right in such independent ventures or the income and profits derived therefrom. 

 

26. Entire Agreement. This Agreement is intended by the Joint Venturers to be the final expression of their agreement and the complete and exclusive statement of the terms thereof, notwithstanding any representations or statements to the contrary heretofore made. 

 

27. Amendments. This Agreement may be amended by the Parties hereto at any time prior; provided, however, that any amendment must be by an instrument or instruments in writing signed and delivered on behalf of each of the Parties hereto. 

 

28. Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by the laws of the State of Delaware without regard for conflicts of laws principles. Each Joint Venturer hereby expressly consents to the personal jurisdiction of the state and federal courts located in the State of Delaware for any lawsuit filed there against any party to this Agreement by any other party to this Agreement concerning the Joint Venture or any matter arising from or relating to this Agreement. 

 

[signature page follows]

 

	 
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IN WITNESS WHEREOF, the Joint Venturers have signed and sealed this Agreement. Executed by the Joint Venturers named above with the intent of being legally bound. 

 

	Bravatek Solutions, Inc.	
 
	 	The Go Eco Group  	
 
	 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	/s/ Thomas A. Cellucci 	
 
	 	 	/s/ Brian P. Conway 	
 
	 
	
 
	(authorized signature)	
 
	 	 	(authorized signature)	
 
	 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
Thomas A. Cellucci 
	
 
	
 
	
 
	
Brian P. Conway 
	
 
	
 

	
 
	
(Name)
	
 
	
 
	
 
	
(Name) 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
Chairman & CEO 
	
12/21/2017 
	
 
	
 
	
CEO
	
12/21/2017 
	
 

	
 
	
(Title)
	
(Date)
	
 
	
 
	
(Title)
	
(Date)
	
 

	
 
		
 
	 	 	 	
 
	 
	
 
	
Address:
	
 
	
 
	
 
	
Address:
	
 
	
 

	
 
	
2028 E. Ben White Blvd.
	
 
	
 
	
 
	
15 Elvis Blvd.
	
 
	
 

	
 
	
#240-2835
	
 
	
 
	
 
	
Chester, NY 10918
	
 
	
 

	
 
	
Austin, TX 78741
	
 
	
 
	
 
	
 
	
 
	
 

 

 

 

	
10独家业务合作协议

业务合作协议

Business Cooperation Agreement

本业务合作协议(下称“本协议”)由以下双方于2017年6月8日在中华人民共和国(下称“中国”)上海市签署。

This Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on June 8, 2017 in Shanghai, the People’s Republic of China (“China” or the “PRC”).

甲方:   上海赋昱信息技术有限公司

地址:   上海市自由贸易试验区耀华路251号一幢一层

Party A:  Shanghai Fuyu Information and Technology Co., Ltd.

Address: 

Floor 1, Building 1, No.251, Yaohua Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, China

乙方:  

上海堡询广告设计有限公司

地址:

上海市奉贤区南虹路8号1442室

Party B:  Shanghai Baoxun Advertisement Design Co., Ltd.

Address:  Room 1442, No.8 Nanhong Road, Fengxian District, Shanghai, China.

甲方和乙方以下各称为“一方”,统称为“双方”。

Each of Party A and Party B shall be hereinafter referred to as a “Party” respectively, and as the “Parties” collectively.

鉴于:

Whereas,

1.

甲方是一家在中国注册的外商独资企业,拥有提供技术和咨询服务的必要资源;

Party A is a wholly-foreign-owned enterprise established in China, and has the necessary resources to provide technical and consulting services; 

2.

乙方是一家在中国注册的内资公司,依法从事互联网信息服务等业务(以下简称“主营业务”);

Party B is a company with exclusively domestic capital registered in China and engages in internet information service and other businesses (the “Principal Business”).

3.

甲方同意利用其技术、人员和信息优势,在本协议期间向乙方提供有关主营业务的独家技术和业务支持和咨询服务,乙方同意接受甲方或其指定方按本协议条款的规定提供的咨询和各种服务。

Party A is willing to provide Party B with technical support, consulting services and other commercial services on exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, human resources, and information, and Party B is willing to accept such services provided by Party A or Party A's designee(s), each on the terms set forth herein. 

据此,甲方和乙方经协商一致,达成如下协议:

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

1.

服务提供

Services Provided by Party A

1.1

按照本协议条款和条件,乙方在此委任甲方在本协议期间作为乙方的独家服务提供者向乙方提供全面的技术支持、业务支持和相关咨询服务,具体内容包括所有在乙方主营业务范围内由甲方不时决定必要的服务,包括但不限于以下内容:技术服务、业务咨询、资产设备租赁、市场咨询、系统整合、产品研发和系统维护。

Party B hereby appoints Party A as Party B's exclusive services provider to provide Party B with complete technical support, business support and related consulting services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, which may include all necessary services within the scope of the Principal Business as may be determined from time to time by Party A, such as but not limited to technical services, business consultations, equipment or property leasing, marketing consultancy, system integration, product research and development, and system maintenance. 

1.2

乙方接受甲方的咨询和服务。乙方进一步同意,除非经甲方事先书面同意,在本协议期间,就本协议约定的服务或其他事宜,乙方不得直接或间接地从任何第三方获得任何与本协议相同或类似的咨询和/或服务,并不得与任何第三方就本协议所述事项建立任何类似的合作关系。双方同意,甲方可以指定其他方(该被指定方可以与乙方签署本协议第1.3条描述的某些协议)为乙方提供本协议约定的服务和/或支持。

Party B agrees to accept all the consultations and services provided by Party A. Party B further agrees that unless with Party A's prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept the same or any similar consultations and/or services provided by any third party and shall not establish similar corporation relationship with any third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the consultations and/or services under this Agreement. 

 

1.3

服务的提供方式

Service Providing Methodology

1.3.1

甲、乙双方同意在本协议有效期内,视情况而定,乙方可以与甲方或甲方指定的其他方进一步签订技术服务协议和咨询服务协议,对各项技术服务、咨询服务的具体内容、方式、人员、收费等进行约定。

Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into further technical service agreements or consulting service agreements with Party A or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific technical services and consulting services. 

1.3.2

为更好地履行本协议,甲乙双方同意,视情况而定,乙方在本协议有效期内可以与甲方或甲方指定的其他方根据业务进展需要随时签署设备、资产的租用协议,由甲方或其指定方将有关的设备、资产提供给乙方使用。

To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into equipment or property leases with Party A or any other party designated by Party A which shall permit Party B to use Party A's or its designee’s relevant equipment or property based on the needs of the business of Party B. 

2.

服务的价格和支付方式

The Calculation and Payment of the Service Fees

双方同意,就本协议项下甲方向乙方提供的各项服务,乙方应将相当于其税后净利润(根据美国一般公认会计准则确定)的百分之一百(100%)的款项支付给甲方作为服务费(“服务费”),但经双方协商和甲方事先书面同意,服务费的金额可以根据甲方当季度的服务内容和乙方的经营需要进行调整。甲方为提供本协议项下的服务而发生的实际支出,包括但不限于各项差旅费、交通费、印刷费和邮资等,应由乙方支付。服务费应当按季度支付;乙方应于每季度开始之日起的十五个工作日内支付,(a) 向甲方提供乙方当季度的管理报表和经营数据,包括乙方在当季度的税后利润额(“每季度利润额”);(b) 将每季度净利润额的100%或甲方同意的其他金额支付给甲方(“季度付款”)。乙方应于每个财政年度末的90日内,(a) 向甲方提供乙方在本财政年度的经审计的财务报表,该财务报表应当经由甲方批准的独立注册会计师审计并认证;(b) 如果按照经审计的财务报表显示,本财政年度内乙方向甲方支付的月付款的总额有任何不足,乙方应向甲方支付差额。除非双方另行协商一致或根据法律的要求,否则乙方根据本协议向甲方支付的服务费应不经任何扣减或抵销(如银行手续费等)。乙方提供的管理报表、经营数据和财务报表应真实、有效、准确和完整,若乙方提供的前述材料存在瑕疵而导致甲方产生损失的,乙方应对该等损失承担全额的赔偿责任。如果由于乙方向甲方提供了虚假材料而导致减轻或免除乙方在本协议项下的付款义务,对于由此而减轻或免除的付款数额,乙方不可撤销地承诺向甲方作出相应赔偿。

Both Parties agree that, in consideration of the services provided by Party A, Party B shall pay to Party A the fees (the “Service Fees”) equal to 100% of the after-tax income determined by U.S. GAAP of Party B, provided that upon mutual discussion between the Parties and the prior written consent by Party A, the rate of Service Fees may be adjusted based on the services rendered by Party A in that quarter and the operational needs of Party B. All out-of-pocket expenses (including without limitation the travelling expenses, accommodation, transportation, printing and postage fees etc) that Party A may incur as a result of the provision of the Services hereunder shall be solely borne by Party B.   The Service Fees shall be due and payable on a quarterly basis; within 15 working days after the beginning of each quarter, Party B shall (a) deliver to Party A the management accounts and operating statistics of Party B for such quarter, including the after-tax income of Party B during such quarter (the “Quarterly Income”), and (b) pay 100% of such Quarterly Income, or other amount agreed by Party A, to Party A (each such payment, a “Quarterly Payment”).  Within ninety (90) days after the end of each fiscal year, Party B shall (a) deliver to Party A audited financial statements of Party B for such fiscal year, which shall be audited and certified by an independent certified public accountant approved by Party A, and (b) pay an amount to Party A equal to the shortfall, if any, of the net income of Party B for such fiscal year, as shown in such audited financial statements, as compared to the aggregate amount of the Quarterly Payments paid by Party B to Party A in such fiscal year.  Unless the Parties agree otherwise or the law provides otherwise, the Service Fees payable by Party B hereunder shall not be subject to any deduction or set-off (e.g. bank handling fees etc).  The management report, operation data and financial statements provided by Party B shall be true, valid, accurate and complete.  If Party A suffers any losses as a result of any defect of the aforesaid documents, Party B shall be fully responsible for such losses.  In the event that Party B’s payment obligation hereunder is reduced or released because of the provision by Party B of any fraudulent materials to Party A, Party B hereby irrevocably undertakes to compensate Party A accordingly for the amount so reduced or released.

如果在乙方有义务向甲方支付服务费时,根据美国一般公认会计准则确定乙方处于亏损状态,甲方需要合并乙方的亏损,并有义务向乙方支付亏损额,以弥补其亏损。

If Party B is operating at losses determined by U.S. GAAP when Party B is obligated to pay the Services fees to Party A , Party A needs to absorb Party B’s losses and be responsible and required to reimbursement Party B for those losses.

3.

知识产权和保密条款

Intellectual Property Rights and Confidentiality Clauses

3.1

在中国法律允许的范围内,甲方对履行本协议而产生或创造的任何权利、所有权、权益和所有知识产权包括但不限于著作权、专利权、专利申请权、软件、技术秘密、商业机密及其他均享有独占的和排他的权利和利益。乙方须签署所有适当的文件,采取所有适当的行动,递交所有的文件和/或申请,提供所有适当的协助,以及做出所有其他依据甲方的自行决定认为是必要的行为,以将任何对该等知识产权的所有权、权利和权益赋予甲方,和/或完善对甲方此等知识产权权利的保护。

To the extent permitted under the PRC laws, Party A shall have exclusive and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others. Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A in its sole discretion for the purposes of vesting any ownership, right or interest of any such intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A.

3.2

双方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而交换的任何口头或书面资料均被视为保密信息。双方应当对所有该等保密信息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本协议所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。无论本协议以任何理由终止,本条款仍然生效。

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall  be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

3.3

双方同意,不论本协议是否变更、解除或终止,本条款将持续有效。

The Parties agree that this Section shall survive changes to, and rescission or termination of, this Agreement.

4.

陈述和保证

Representations and Warranties

4.1

甲方陈述和保证如下:

Party A hereby represents and warrants as follows:

4.1.1

甲方是按照中国法律合法注册并有效存续的外商独资企业。

Party A is a wholly owned foreign enterprise legally registered and validly existing in accordance with the laws of China.

4.1.2

甲方已采取必要的公司行为,获得必要的授权,并取得第三方和政府部门的同意及批准(若需)以签署和履行本协议;甲方对本协议的签署和履行并不违反法律法规的明确规定。

Party A has taken all necessary corporate actions, obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the execution and performance of this Agreement.  Party A’s execution and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party A.

4.1.3

本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

This Agreement constitutes Party A's legal, valid and binding obligations, enforceable in accordance with its terms.

4.2

乙方陈述和保证如下:

Party B hereby represents and warrants as follows:

4.2.1

乙方是按照中国法律合法注册且有效存续的公司,乙方获得从事主营业务所需的政府许可、牌照,具有独立的法人资格;具有完全、独立的法律地位和法律能力签署、交付并履行本协议,可以独立地作为一方诉讼主体。

Party B is a company legally registered and validly existing in accordance with the laws of China and has obtained the relevant permit and license for engaging in the Principal Business in a timely manner.  It has independent legal person status, and has full and independent civil and legal capacity to execute, deliver and perform this Agreement.  It can sue and be sued as a separate entity;

4.2.2

乙方已采取必要的公司行为,获得必要的授权,并取得第三方和政府部门的同意及批准(若需)以签署和履行本协议;乙方对本协议的签署和履行并不违反法律法规的明确规定。

Party B has taken all necessary corporate actions, obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the execution and performance of this Agreement.  Party B’s execution and performance of this Agreement do not violate any explicit requirements under any law or regulation binding on Party B.

4.2.3

本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

This Agreement constitutes Party B's legal, valid and binding obligations, and shall be enforceable against it.

5.

生效和有效期

Effectiveness and Term

本协议于文首标明的协议日期签署并同时生效。除非依本协议第6.1条被终止,或依照有关的适用中国法律和法规的要求必须被终止,本协议将持续有效。

This Agreement is executed on the date first above written and shall take effect as of such date. This Agreement shall maintain effective unless terminated in accordance with Article 6.1 or was compelled to terminate under applicable PRC laws and regulations.

6.

终止

Termination

6.1

本协议有效期内,除非甲方对乙方有重大过失或存在欺诈行为,乙方不得提前终止本协议。尽管如此,甲方可在任何时候通过提前30天向乙方发出书面通知的方式终止本协议。

During the term of this Agreement, unless Party A commits gross negligence, or a fraudulent act, against Party B, Party B shall not terminate this Agreement prior to its expiration date. Nevertheless, Party A shall have the right to terminate this Agreement upon giving 30 days' prior written notice to Party B at any time.

6.2

在本协议终止之后,双方在第3、7和8条项下的权利和义务将继续有效。

The rights and obligations of the Parties under Articles 3, 7 and 8 shall survive the termination of this Agreement.

7.

适用法律和争议解决

Governing Law and Resolution of Disputes

7.1

本协议的订立、效力、解释、履行、修改和终止以及争议的解决适用中国的法律。

The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China.

7.2

因解释和履行本协议而发生的任何争议,本协议双方应首先通过友好协商的方式加以解决。如果在一方向其他方发出要求协商解决的书面通知后30天之内争议仍然得不到解决,则任何一方均可将有关争议提交给中国国际经济贸易仲裁委员会上海分会,由该会按照其仲裁规则仲裁解决。仲裁应在上海进行,使用之语言为中文。仲裁裁决是终局性的,对各方均有约束力。

In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party's request to the other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission Shanghai Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Shanghai, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

7.3

因解释和履行本协议而发生任何争议或任何争议正在进行仲裁时,除争议的事项外,本协议双方仍应继续行使各自在本协议项下的其他权利并履行各自在本协议项下的其他义务。

Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

8.

违约责任

8.1

双方同意并确认,如任何一方(以下称“违约方”)违反本协议项下所作的任何一项约定,或未履行本协议项下的任何一项义务,即构成本协议项下的违约(以下称“违约”),守约方有权要求违约方在合理期限内补正或采取补救措施。如违约方在合理期限内或在守约方书面通知违约方并提出补正要求后30天内仍未补正或采取补救措施的,则守约方有权自行决定(1)终止本协议,并要求违约方给予全部的损害赔偿;或者(2)要求强制履行违约方在本协议项下的义务,并要求违约方给予守约方因此而遭受的全部损害赔偿。

The Parties agree and confirm that, if either Party (the “Defaulting Party”) is in breach of any provisions herein or fails to perform its obligations hereunder, such breach or failure shall constitute a default under this Agreement (the “Default”), which shall entitle the non-defaulting Party to request the Defaulting Party to rectify or remedy such Default with a reasonable period of time.  If the Defaulting Party fails to rectify or remedy such Default within the reasonable period of time or within 30 days of non-defaulting Party’s written notice requesting for such rectification or remedy, then the non-defaulting Party shall be entitled to elect any one of the following remedial actions: (a) to terminate this Agreement and request the Defaulting Party to fully compensate its losses and damages; (b) to request the specific performance by the Defaulting Party of its  obligations hereunder and request the Defaulting Party to fully compensate non-defaulting Party’s losses and damages. 

8.2

本协议当事人对违约方违约行为的弃权仅以书面形式作出方为有效。当事人未行使或迟延行使其在本协议项下的任何权利或救济不构成该当事人的弃权;部分行使权利或救济亦不应阻碍其行使其他权利或救济。

No waiver of rights in respect of any Default hereunder shall be valid unless it was made in writing.  Any failure to exercise or delay in exercising any rights or remedy by any Party under this Agreement shall not be deemed as a waiver of such Party.  Any partial exercise of any right or remedy shall not affect the exercise of any other rights and remedies. 

     

8.3

虽然有以上第8.1条的规定,双方同意并确认,乙方在任何情况下,均不得以任何理由要求终止本协议,除非法律或本协议另有规定。

Notwithstanding Clause 8.1 above, the Parties agree and confirm that in no circumstance shall Party B early terminate this Agreement unless the applicable law or this Agreement provides otherwise. 

 

8.4

尽管有本协议其它规定,本条规定的效力不受本协议中止或者终止的影响。

Notwithstanding any other provisions under this Agreement, the validity of this Clause shall not be affected by the suspension or termination of this Agreement. 

9.

通知

Notices

9.1

本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号邮寄、邮资预付或商业快递服务的方式发到该方下列地址。每一通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方式确定:

All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service to the address of such Party set forth below.  A confirmation copy of each notice shall also be sent by email.  The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

9.1.1

通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在签收或拒收之日为有效送达日。

Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the address specified for notices.

9.2

为通知的目的,双方地址如下:

For the purpose of notices, the addresses of the Parties are as follows:

甲方:  上海赋昱信息技术有限公司

Party A:  Shanghai Fuyu Information and Technology Co., Ltd.

地址:   上海市自由贸易试验区耀华路251号一幢一层

Address:  Floor 1, Building 1, No.251, Yaohua Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, China

收件人: 曾而新

Attn: 

   ZENG ERXIN

电话Phone:

 15988179261

乙方:

上海堡询广告设计有限公司

Party B:  Shanghai Baoxun Advertisement Design Co., Ltd.

地址:

上海市奉贤区南虹路8号1442室

Address:  Room 1442, No.8 Nanhong Road, Fengxian District, Shanghai, China.

收件人:

曾而新

Attn.:     ZENG Erxin

电话Phone:

15988179261 

9.3

任何一方变更接收通知的地址或联系人的,应按本条规定给另一方发出通知。

If any Party change its address for notices or its contact person, a notice shall be delivered to the other Party in accordance with the terms hereof.

10.

协议的转让

Assignment

10.1

乙方不得将其在本协议项下的权利与义务转让给第三方,除非事先征得甲方的书面同意。

Without Party A's prior written consent, Party B shall not assign its rights and obligations under this Agreement to any third party.

10.2

乙方在此同意,甲方可以在其需要时向其他第三方转让其在本协议项下的权利和义务,并在该等转让发生时甲方仅需向乙方发出书面通知,并且无需再就该等转让征得乙方的同意。

Party B agrees that Party A may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Party B but without the consent of Party B.

11.

协议的分割性

Severability

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。双方应通过诚意磋商,争取以法律许可以及双方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

12.

协议的修改、补充

Amendments and Supplements

双方可以书面协议方式对本协议作出修改和补充。经过双方签署的有关本协议的修改协议和补充协议是本协议组成部分,具有与本协议同等的法律效力。

Any amendments and supplements to this Agreement shall be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and that relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

13.

语言和副本

Language and Counterparts

本协议以中文和英文书就,一式二份,甲乙双方各持一份,具有同等效力;中英文版本如有冲突,应以中文版为准。

This Agreement is written in both Chinese and English language in two copies, each Party having one copy with equal legal validity; in case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

[THE SIGNATURE PAGE]

{00534819.DOC.1}

1

Business Cooperation Agreement

有鉴于此,双方已使得经其授权的代表于文首所述日期签署了本业务合作协议并即生效,以昭信守。

IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Business Cooperation Agreement as of the date first above written.

甲方:   上海赋昱信息技术有限公司

Party A:  Shanghai Fuyu Information and Technology Co., Ltd. 

签字:

By: 

ZENG Erxin

姓名:

曾而新

Name: 

ZENG Erxin

职务:

法定代表人

Title:  

Legal Representative

乙方:

上海堡询广告设计有限公司

Party B:  Shanghai Baoxun Advertisement Design Co., Ltd.

签字:

By: 

ZENG Erxin

姓名:

曾而新

Name:

ZENG Erxin

职务:

法定代表人

Title: 

Legal Representative

{00534819.DOC.1}

2

Business Cooperation Agreement

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