Document:

Exhibit
10.10

 

Director Compensation

 

Employees of Rhino Resource
Partners, L.P. (the “Partnership”) or its subsidiaries or Rhino GP LLC (the
“General Partner”), the general partner of the Partnership, who also serve as
directors of the General Partner will not receive additional compensation.
Directors who are not employees of the Partnership or its subsidiaries or the
General Partner will receive (1) a $30,000 annual cash retainer,
(2) $1,500 for each board of directors or committee meeting attended in person
and (3) $750 for each telephonic board of directors or committee meeting
participated in. The chair of the audit committee of the board of directors of
the General Partner will receive an additional $10,000 annual cash retainer. In
addition, each director will be reimbursed for out-of-pocket expenses in
connection with attending meetings of the board of directors or committees.
Each director will be fully indemnified by the Partnership for actions
associated with being a director to the extent permitted under Delaware law.Filed by Automated Filing Services Inc. (604) 609-0244 - Playbox (US) Inc. - Exhibit 10.1

EXHIBIT 10.1 

DATED 30 March 2004

 

HBI SALES PRIVATE LIMITED 

(1)

ZACAN HOLDINGS PROPRIETARY LIMITED 

(2)

ICT/EUROPETEC LIMITED

 (3)

MIR TECHNOLOGIES LLC 

(4)

- and - 

PLAYBOX LIMITED

 (5) 

 

AGENCY EXPLOITATION AGREEMENT 

  for the commercial exploitation 

  of the Playbox Technology 

	Keydata Technology Partnership 1 LLP 	1 

THIS AGENCY AGREEMENT is made
the 30th day of March 2004 

BETWEEN :

	(1) 	
      HBI SALES PRIVATE LIMITED a company registered in
      Asia whose registered office is situate at 204A Mittal Towers, 6 M.G.
      Road, Bangalore 560 001, India ("the First Licensor ");

	 	 
	(2) 	
      ZACAN HOLDINGS PROPRIETARY LIMITED a company
      registered in Australia whose registered office is situate at Level 5, 49
      Market Street, Sydney, New South Wales, Australia ("the Second
      Licensor");

	 	 
	(3) 	
      ICT/EUROPETEC LIMITED a company registered in
      England and Wales whose registered office is situate at 4 Bedford Row,
      London WC1R 4DF ("the Third Licensor");

	 	 
	(4) 	
      MIR TECHNOLOGIES LLC a company registered in the
      United States whose registered office is situate at Agents and
      Corporations Inc., 1201 Orange Street, Suite 600, City of Wilmington, New
      Castle County, Delaware 19801, United States ("the Fourth Licensor")
      and

	 	 
	(5) 	
      PLAYBOX MEDIA LIMITED (a limited company
      registered in England and Wales) whose registered office is situated at 27
      New Bond Street, London W1S 2RH (“the Agent").

WHEREAS 

RECITALS

	1. 	
      The First Licensor entered into a Licence Agreement with
      PlayBox Inc. on the 12th September 2003 by which it was granted
      a licence to use, deal with and generally exploit the Rights (but not to
      sell, lease or otherwise dispose of the same) in the Territory defined as
      Asia.

	 	 
	2. 	
      The Second Licensor entered into a Licence Agreement with
      PlayBox Inc. on the 12th September 2003 by which it was granted
      a licence to use, deal with and generally exploit the Rights (but not to
      sell, lease or otherwise dispose of the same) in the Territory defined as
      Australia.

	Keydata Technology Partnership 1 LLP 	2

	3. 	
      The Third Licensor entered into a Licence Agreement with
      PlayBox Inc. on the 12th September 2003 by which it was granted a licence
      to use, deal with and generally exploit the rights (but not to sell, lease
      or otherwise dispose of the same) in the Territory defined as
    Europe.

	 	 
	4. 	
      The Fourth Licensor entered into a Licence Agreement with
      PlayBox Inc. on the 12th September 2003 by which it was granted a licence
      to use, deal with and generally exploit the Rights (but not to sell, lease
      or otherwise dispose of the same) in the territory defined as USA and
      Canada.

	 	 
	5. 	
      The First Licensor, the Second Licensor, the Third
      Licensor and the Fourth Licensor have agreed that it would be commercially
      advantageous for each of them to join together in the appointment of one
      agent to exploit the rights granted to each of them under their respective
      License Agreements and have agreed to appoint the Agent upon the terms and
      conditions of this Agreement.

	 	 
	6. 	
      The First Licensor, the Second Licensor, the Third
      Licensor and the Fourth Licensor have agreed that, wherever commercially
      possible or reasonable, they shall act with one voice and provide one set
      of instructions to the Agent but that each shall, where necessary or
      desirable, be able to individually to apply the terms of this Agreement to
      their own Territory and licence agreement.

IT IS AGREED as follows: 

	1. 	
      DEFINITIONS AND INTERPRETATION

	 	 
		
      In this Agreement the following words and expressions
      will have the following meanings:

	 	“Business Day” 	
      any day other than a Saturday or Sunday or statutory Bank
      Holiday; 

	 	 	
       

	 	“Duties 	
      duties of the Agent in relation to the commercial
      exploitation of the rights as set out in the Schedule 1 to this Agreement;
      

	Keydata Technology Partnership 1 LLP 	3

	 	“Exploitation Forecast” 	
      the forecasts of income and expenditure for the
      exploitation set out in Schedule 2 to this Agreement; 

	 	 	
       

	 	“Licensor” 	
      any one of the First Licensor, the Second Licensor, the
      Third Licensor or the Fourth Licensor; 

	 	 	
       

	 	“Minimum” 	
      the sum of £640,000; 

	 	 	
       

	 	“The Payment” 	
      20% of the Turnover 

	 	 	
       

	 	“Period” 	
      each calendar quarter 

	 	 	
       

	 	“Rights” 	
      the intellectual property rights to the technology and
      software for the PlayBox Technology listed in Schedule 3 including all
      future upgrades 

	 	 	
       

	 	“Territory” 	
      the respective territory or territories defined in each
      licence agreement referred to above 

	 	 	
       

	 	“Turnover” 	
      the gross income (exclusive of VAT) from the Exploitation
      of the Rights. 

Definitions used in this Agreement
shall apply to each Licensor mutatis mutandis 

	2. 	
      DUTIES OF THE AGENT

	 	 
		
      The agent will commercially exploit the Rights and
      will:

	 	(i) 	
      carry out its Duties and use its best endeavours to
      achieve an exploitation result in accordance with the Exploitation
      Forecast.

	 	 	 
	 	(ii) 	
      accept and carry out work and services related to the
      exploitation in accordance with instructions and direction given by the
      Licensors for each of their territories.

	 	 	 
	 	(iii) 	
      participate in at least one monthly management meeting
      with the Licensors or as they may direct and report the exploitation
      results for the month in a format directed by the Licensors or as they may
      direct.

	Keydata Technology Partnership 1 LLP 	4

	 	(iv) 	
      participate as may from time to time be required in any
      other meeting with the Licensors or as they may direct.

	 	(v) 	
      accept the directors and requests from the Licensors and
      carry out work resulting from the directions and requests in a proper
      manner.

	3. 	
      PAYMENT TO THE AGENT

	 	 
	3.1 	
      In consideration of the Agent carrying out the Duties and
      giving the warranty in clause 4, the Licensors jointly agree that the
      Agent shall be entitled to an aggregate sum equal to the
Payment.

	 	 
	3.2 	
      The Payment shall be made to the Agent within fourteen
      (14) Business Days of the finalisation of the Accounts of the Partnership
      in respect of each period.

	 	 
	3.3 	
      A Certificate in writing signed by the Licensors stating
      the total amount due to the Agent shall in the absence of manifest error
      be conclusive evidence thereof.

	 	 
	4. 	
      WARRANTY

	 	(i) 	
      The agent hereby confirms that the Exploitation Forecast
      is reasonable and expresses the Agent’s current expectations of turnover
      and Costs as a result of the exploitation of the
Rights.

	 	(ii) 	
      The Agent warrants to the Licensors that the aggregate
      Turnover in any Period as a result of the Agent carrying out the Duties
      shall not be less than the Minimum in respect of the first thirty six (36)
      calendar months from the date hereof.

	5. 	
      INDEMNITY

	 	 
		
      The Agent agrees to indemnify and keep indemnified the
      Licensors from and against any and all losses, costs, damages, claims,
      demands, expenses and liabilities incurred or suffered (together with
      legal fees and costs incurred thereon) by the Licensors as a result of any
      breach by the agent or its agents, employees, licensees or customers
      pursuant to the terms of this Agreement provided that such liability has
      not been incurred by the Agent through any default by the
  Licensors.

	Keydata Technology Partnership 1 LLP 	5

	6. 	
      NON COMPETITION

	 	 
		
      For so long as this Agreement is in existence in relation
      to one or more of the Licensors, the Agent undertakes and covenants with
      the First Licensor, the Second Licensor, the Third Licensor and the Fourth
      Licensor individually covenants that it will not during the subsistence of
      this Agreement and for a term of one year after its termination (howsoever
      terminated), deal with, exploit, sell, distribute or otherwise be involved
      or interested in, whether directly or indirectly, any software or
      technology which is similar to or in competition with the
Rights.

	 	 
	7. 	
      PROPERTY AND CONFIDENTIALITY IN THE
  RIGHTS

	 	7.1 	
      The Rights contain confidential information of the
      Licensors and all copyright, trademarks and other intellectual property
      rights in the Rights are the exclusive property of the
Licensors.

	 	 	 
	 	7.2 	
      The Agent shall not:

	 	7.2.1 	
      save as provided or agreed by the Licensors make up
      backup copies of the Rights;

	 	 	 
	 	7.2.2 	
      reverse compile, copy or adapt the whole or any part of
      the Rights;

	 	 	 
	 	7.2.3 	
      assign, transfer, sell, lease, rent, charge or otherwise
      deal in or encumber the Rights or use the Rights on behalf of any third
      party or make available the same to any third
party

	 	7.3 	
      The Agent shall:

	 	7.3.1 	
      keep confidential the Rights and limit access to the same
      to those of its employees, agents and sub-contractors who either have a
      need to know or who are engaged in the exploitation of the
  Rights;

	 	 	 
	 	7.3.2 	
      maintain an up to date written record of the number of
      copies of the Rights and their location and upon request forthwith produce
      such record to the Company;

	Keydata Technology Partnership 1 LLP 	6

	 	7.3.3 	
      notify the Licensors immediately if the Agent becomes
      aware of any unauthorised use of the whole or any part of the Rights by
      any third party; and

	 	 	 
	 	7.3.4 	
      without prejudice to the foregoing take all such other
      steps as shall from time to time be necessary to protect the confidential
      information and intellectual property rights of the Licensors in the
      Rights.

	 	7.4 	
      The Agent shall inform all relevant employees, agents and
      sub-contractors that the Rights constitute confidential information of the
      Licensors and that all intellectual property rights therein are the
      property of the Licensors and the Agent shall take all such steps as shall
      be necessary to ensure compliance by its employees, agents and
      sub-contractors with the provision of this clause
7.

	8. 	
      TERMINATION

	 	(i) 	
      This Agreement shall terminate in the event of either of
      the parties giving to the other not less than thirty (30) Business Days
      notice in writing at any time after the third anniversary of this
      Agreement.

	 	 	 
	 	(ii) 	
      The Licensors, or any one of the Licensors in respect of
      its own rights or territories, may terminate this Agreement at any time
      upon giving not less than thirty (30) Business Days notice in writing at
      any time.

	 	 	 
	 	(iii) 	
      This Agreement may be terminated forthwith by either
      party if the other shall convene a meeting of its creditors or if a
      proposal shall be made for voluntary arrangement or a proposal for any
      other composition scheme or arrangements with (or assignment for the
      benefit of) its creditors or if the other shall be unable to pay its debts
      within the meaning of Section 123 of the Insolvency Act 1986 or if a
      Trustee, Receiver or Administrative Receiver or similar officer is
      appointed in respect of all or any part of the business or assets of the
      other or if a petition is presented or a meeting is convened for the
      purpose of considering a resolution or other steps are taken for the
      winding-up of the other or for the making of
an

	Keydata Technology Partnership 1 LLP 	7

	 		
      administration order (otherwise done for the purpose of
      an amalgamation or reconstruction)

	 	 	 
	 	(iv) 	
      In the event of termination for whatever reason the Agent
      shall forthwith pass to the Licensors all documents, samples and publicity
      promotional and advertising material in its possession or under its
      control and shall forthwith cease to make any representation that it is in
      any way involved with the Licensors.

	 	 	 
	 	(v) 	
      Termination for whatever reason shall not affect the
      right of the Agent to receive monies referred to in clause 3 where such
      monies have been earned prior to the date of termination.

	 	 	 
	 	(vi) 	
      The agent agrees that it shall not be entitled to any
      compensation in the event of this Agreement being terminated for whatever
      reason.

	9. 	
      ENTIRE AGREEMENT

	 	 
		
      The parties acknowledge that this Agreement constitutes
      the whole agreement between the parties and shall supersede any prior
      agreements between the parties whether written or oral and that any such
      prior agreements are cancelled as at the date hereof.

	 	 
	10. 	
      NO PARTNERSHIP

	 	 
		
      The parties confirm that they are not partners or joint
      venturers.

	 	 
	11. 	
      FORCE MAJEURE

	 	 
		
      If due performance of this Agreement by either party
      hereto is affected in whole or in part by reason of any event, omission,
      accident or other matter beyond the reasonable control of such party, such
      party shall give prompt notice thereof to the other party and shall be
      under no liability for any loss, damage, injury or expense (whether direct
      or consequential) suffered by the other party or parties due to the
      affected performance. Such party shall use all reasonable efforts to avoid
      or overcome the causes affecting performance and shall fulfil all
      outstanding performance as soon as it becomes practicable to do
  so.

	Keydata Technology Partnership 1 LLP 	8

	12. 	
      WARRANTIES AND INDEMNITIES

	 	 	 
	12.1 	
      Each party hereby represents and warrants to the other
      that there are no material agreements, licences or obligations known to it
      what would affect this Agreement other than previously disclosed by it and
      that each had dealt with the other in negotiating this Agreement with good
      faith

	 	 	 
	12.2 	
      Each party represents and warrants to the other
    that:

	 	 	 
		(i) 	
      the making and performance of this Agreement are within
      its powers and do not contravene any law or contractual restriction on
      it;

	 	 	 
		(ii) 	
      there are no pending or threatened claims, actions or
      proceedings which would be reasonably likely to affect materially and
      adversely the financial condition of the that party;

	 	 	 
	12.3 	
      The parties undertake to each other that each of them
      will indemnify and keep the other indemnified from and against any and all
      losses, costs, claims, demands, actions or liabilities suffered or
      incurred directly or indirectly by the other as a result of the breach by
      that party of any of the warranties referred to above.

	 	 	 
	13. 	
      NOTICES AND OTHER MATTERS

	 	 	 
	13.1 	
      Any notice to be given pursuant to the terms of this
      Agreement shall be in writing delivered by hand or by first class mail or
      by facsimile. Any such notice shall be delivered (i) in the case of a
      company registered in England and Wales, to its registered office address
      or to such other address in England as may subsequently be notified by
      notice given pursuant to the terms of this clause, and (ii) in the case of
      an individual, or of an organisation other than a company registered in
      England and Wales, to an address in England notified by notice given
      pursuant to the terms of this clause. Any notice given shall be deemed to
      be given, in the case of a notice delivered by hand, on the Business Day
      following receipt, in the case of a notice delivered by pre-paid first
      class mail from England, three Business Days after posting, and in the
      case of a notice given by facsimile, on the first Business Day following
      transmission. In proving service by mail it shall be sufficient to show
      that the envelope containing the notice was properly addressed, stamped
      and posted.

	 	 	 
	13.2 	
      No failure or delay on the part of any party to exercise
      any power, right or remedy under this agreement shall operate as a waiver
      thereof nor shall any single or partial exercise by that party of any
      power, right or remedy preclude any other or further exercise of
  any

	Keydata Technology Partnership 1 LLP 	3

		
      other power, right or remedy. The remedies of each of the
      parties provided by this Agreement are cumulative and are not exclusive of
      any remedies provided by law.

	 	 
	13.3 	
      If any provision of this agreement shall be found by any
      court or administrative body of competent jurisdiction to be invalid or
      unenforceable the invalidity or unenforceability of such provision shall
      not affect the other provisions of this Agreement and all provisions not
      affected by such invalidity or unenforceability shall remain in full force
      and effect.

	 	 
		
      The parties hereby agree to attempt to substitute for any
      invalid or unenforceable provision a valid or enforceable provision which
      achieves to the greatest extent possible the economic legal and commercial
      objectives of the invalid or unenforceable provision.

	 	 
	13.4 	
      This agreement shall be governed by and construed in
      accordance with English law and shall be subject to the exclusive
      jurisdiction of the English Courts.

	 	 
	14. 	
      ASSIGNMENT

	 	 
		
      This Agreement shall not be assigned by any party without
      the written consent of the others save that in the case of an assignment
      by one of the Licensors consent shall not be necessary from the other
      Licensors and the Agent shall not be entitled to unreasonably withhold or
      delay its consent.

	 	 
	15. 	
      AGREEMENT MODIFICATION

	 	 
		
      Any agreement to change the terms of this Agreement in
      any way shall be valid only if the change is made in writing and approved
      by mutual agreement of authorised representatives of the parties
      hereto.

	Keydata Technology Partnership 1 LLP 	10

IN WITNESS WHEREOF the parties have executed this
instrument as a deed and have delivered it upon dating it. 

EXECUTED As A Deed By 

HBI SALES PRIVATE LIMITED 

	acting by 	  
	a director and by 	  
	a director/secretary 	  
	in the presents of 	/s/ Peter Wren-Hilton 
	Witness Signature      
       /s/ Lone Christensen 	
	  	Director 
	Name                             
      Lone Christensen 	  
	Address                       
      1 Court Royal 	  
	                                        SW15
      2BJ, London 	
	Occupation                  
      PA 	Director/Secretary 
	EXECUTED As A Deed By 	  
	ZACAN HOLDINGS PROPRIETARY 	  
	LIMITED 	  
	acting by 	  
	a director and by 	  
	a director/secretary 	  
	in the presents of 	/s/ Bob Spears 
	Witness Signature      
       /s/ Lone Christensen 	
	Name                             
      Lone Christensen 	Director 
	Address                       
      1 Court Royal 	  
	                                        SW15
      2BJ, London 	
	Occupation                  
      PA 	Director/Secretary 
	EXECUTED As A Deed By 	  
	ICT/EUROTETEC LIMITED 	  
	acting by 	  
	a director and by 	  
	a director/secretary 	  
	in the presents of 	/s/ Jonathon Roper 
	  	
	Witness Signature 	Director 
	Name 	  
	Address 	  
	  	/s/ JCL
      Bailey                                     
      (Solicitor) 
	  	
	Occupation 	Director/Secretary

	Keydata Technology Partnership 1 LLP 	11

	EXECUTED As A Deed By 	  
	MIR TECHNOLOGIES LLC 	  
	acting by 	  
	a director and by 	  
	a director/secretary 	  
	 	  
	in the presents of 	  
	 	  
	Witness Signature 	/s/ Timothy M Cocker 
	 	
	Name                              Rebecca
      Poncini 	Director 
	 	  
	Address                        
      7131 Spicer Dr 	  
	 	  
	                                       
      Citrus Heights, CA95621 	
	 	Director/Secretary 
	Occupation                  
       Engr Tech 	  
	 	  
	EXECUTED As A Deed By 	  
	PLAYBOX LIMITED 	  
	acting by 	  
	a director and by 	  
	a director/secretary 	  
	 	/s/ Dawn Tribe 
	In The Presents Of 	
	 	Director 
	Witness Signature 	  
	 	  
	Name                              Ulrik
      Debo	/s/ Mark Gebhard 
	 	  
	Address                        
      91A Breakspears Rd. 	Pp Kingsland (Services) Ltd 
	                                        London,
      SE4 1TX. 	
	 	Director/Secretary 
	Occupation                    Sales
    	  

	Keydata Technology Partnership 1 LLP 	12

SCHEDULE 1 

The Agent’s Duties 

The Agent will commercially exploit the Rights and its duties
will include, but are not restricted to, the following: 

	(i) 	
      carrying out its Duties and using its best endeavours to
      achieve an exploitation result in accordance with the Exploitation
      Forecast;

	 	 
	(ii) 	
      accepting and carrying out work and services related to
      the exploitation in accordance with instructions and directions given by
      the Licensors;

	 	 
	(iii) 	
      participating in at least one monthly management meeting
      with the Licensors or as they may otherwise direct and reporting the
      exploitation results for the month in a format directed by the
      Licensors;

	 	 
	(iv) 	
      participating as may from time to time be required in any
      other meeting with the Licensors or as they may otherwise
direct;

	 	 
	(v) 	
      accepting the directions and requests from the Licensors
      or as they may otherwise direct and carrying out work resulting from the
      directions and requests in a proper manner;

	 	 
	(vi) 	
      providing quarterly reviews of the public reactions to
      the Rights and a financial comparison between actual performance and
      results against those in the Exploitation forecast;

	 	 
	(vii) 	
      discussing possible changes to the financial assumptions
      in sufficient time before the end of the financial year to enable budgets
      to be prepared for the following year;

	 	 
	(viii) 	
      undertaking any other duties or activities relating to
      the Rights which may reasonably be requested by the
  Licensors.

	Keydata Technology Partnership 1 LLP 	13

SCHEDULE 2 

Exploitation Forecast 

 

 

 

 

	Keydata Technology Partnership 1 LLP 	14

SCHEDULE 3 

The Rights 

INTRODUCTION 
The name of the company, as well as the
name of the product, is PlayBox. The two founders of the company had been
working together in previous businesses before starting the development of
PlayBox in August 1999 and eventually forming the company in October 2001. The
PlayBox technology is owned by PlayBox Inc. a company registered in Seychelles
and exploitation agreements are currently in place with sales and marketing
companies in Europe, India, North America and Australia. 

BACKGROUND 
With the continued chaos of the music
industry regarding digital rights management, piracy and the inevitable loss of
revenue, the founders and management team behind PlayBox has come up with a
solution that addresses most of the current issues and enables the PlayBox
application to bridge the gap between the consumers and the record industry. The
idea is to: 

	 	• 	
      engage partnerships with leading Record Labels and Record
      Stores enabling them to offer their music through a PlayBox-powered web
      front-end.

	 	• 	
      offer PlayBox to consumers as

	 		
      o
	
      1) a stand-alone software package,

	 		
      o
	
      2) a silent PlayBox pc, pre-installed with the PlayBox
      software and

	 		
      o
	
      3) via OEM partnerships with music equipment
      manufactures.

	 	• 	
      To maximise the synergy between the Record Industry and
      its customers (the consumers), PlayBox will tie the parties together by
      making an integration between the Record Industry’s PlayBox-powered web
      front-end and the consumers’ PlayBox-powered hi-fi
  equipment.

This will allow the Record Labels and Record Stores to push the
music over the counter to the customer in a ‘one-click store@ via the PlayBox
user interface (given the customer’s preferences and permission) and bring the
consumer closer to the music he or she likes by offering the gateway to the
Record Industry’s music offerings and recommendations of music based on the
listening patterns of the other consumers. 

PRODUCTS AND SERVICES 
PlayBox lets you transfer your
existing music collection into the system. Simply insert the music CD into your
PC or your PlayBox hardware and PlayBox will take care of the rest. PlayBox
supports online services such as FreeDB and CDDB (services which give you all
album details such as genre, tracks and in some cases front cover images and
lyrics), so no typing is necessary in most cases.

The program downloads all relevant information from the
Internet and stores it in the super-fast sql database. PlayBox provides a full
range of editable fields, including titles, artist names, rating and additional
genres. This information can be displayed while browsing or playing the music in
PlayBox. PlayBox lets you to rate your albums. 

Some of the highlights of the value added by PlayBox to the
Record Industry: 

	PlayBox brings the Record Industry closer to the consumers by offering a
  connection via the web and possibly via their hi-fi equipment directly.
  
	PlayBox offers the Record Industry a solid channel for distributing and
  selling their music electronically – an important step towards breaking the
  ‘vicious circle’ of the recent years for the Record Industry being the piracy
  and peer-to-peer file sharing. 

	Keydata Technology Partnership 1 LLP 	15

	PlayBox collects data about the consumers’ listening habits (given the
  permission of the individual consumer), which will give the Record Labels a
  unique feedback for determining the kind of music to produce in the future
  (not necessarily the same as the hit charts). 

These highlights should be seen in relation to the highlights
for the consumer: 

	
  PlayBox is first of all a unique user interface for listening to your music
  as well as managing your music collection. Many people will recognise the
  problem of having bought hundreds of CD’s over the years – but tend to listen
  to the very same ten because the visual experience of the music collection is
  just the narrow plastic back of the jewel case in the shelves. PlayBox changes
  that and gives the user much more value for the money already spent. 

  
	
  PlayBox can, based on the personal music rating of individual tracks and
  albums, recommend other music that will match the user’s taste – including
  music in his or her own collection. By submitting your personal ratings via
  the user interface, PlayBox can match that with the patterns of other
  listeners, stored at PlayBox-servers on the Record Industry’s side. This is
  the kind of added value that the Record Industry so desperately needs to turn
  the current ‘bad will’ around. 

  
	
  PlayBox lets the user easily synchronies the music with portable devices
  such as mp3 players, PDA’s and the like. And when the bandwidth allows for it,
  the consumers can have PlayBox stream the music directly to their portable
  devices, thereby offering their whole music collection at their fingertips –
  around the World. 

OPPORTUNITIES 
Like it or not, the way to restore the
music industry back to health is to embrace digital distribution of music via
the Internet. Doing so would be difficult but far from impossible. After all,
the music business has long survived by introducing new formats: the
long-playing record that replaced the 78 single in the 1950s; the cassette in
the 1970s; the higher-priced CD, which fueled a huge increase in sales, in the
1980s. 

Now consumers are clamoring for digital distribution. They want
to burn songs they like onto blank CDs or download them onto portable mp3
players for a reasonable price. But four years after Napster transformed the
music distribution landscape, the industry still is not giving consumers what
they want. 

There are currently a handful digital services that allow
consumers to download most with limited success as their platform is build with
the Record Industry in mind, rather than the consumer. The only successful
portal is iTunes by Apple launched April 2003. In its first month, it sold 3
million songs to a relatively small community of Macintosh users in the United
States, a tiny fraction of computer users. This clearly states the huge
potential in the market and the potential for PlayBox – alone for the fact that
PlayBox via the hardware box also targets the consumers in the non-pc market.

SALES AND MARKETING 

  The sales and marketing strategy is straight forward as the Company aims
  to become the default music management application for consumer, record industry
  and the OEMs being for both computers as well as music systems. The Company
  will initially target the smaller independent music labels and HiFi system’s
  manufacturers and thereby gain some early traction that will enable to bring
  some of the bigger companies onboard. The main sales and marketing effort will
  be in Europe, but parallel with the European launch, resellers in Asia, Australia
  and US will be pushing the product. As only a small handful of players are operating
  in this space, most of which have had dubious success so far, the Company aims
  to become a leading provider of music management systems within the first 2
  year. 

	Keydata Technology Partnership 1 LLP 	16

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