Document:

Exhibit 10.2

TRITON DISTRIBUTION SYSTEMS, INC/NAITAS

MARKETING and DISTRIBUTION AGREEMENT

2/23/06

1.                 SERVICES

A.             Triton Distribution Systems, Inc. (“TDS”), a Nevada corporation with its principal place
of business at One Harbor Drive #300, Sausalito, California 94965, USA, and the
National Association of Independent Travel Agents
(“NAITAS”), a Filipino travel association located at 2F-Rm. 201
KIMVI Bldg., 1191 Marla Orosa St., Ermita Manila desire to enter into a
Marketing and Distribution Agreement for the purpose of distributing TDS’s
travel products, including Philippine Airlines and Cebu Pacific air tickets via
the NAITAS subscriber network in the Philippines, Asia, the United States and
elsewhere. TDS will open and operate an Operations/Data
Center/Sales Office in Manila staffed with TDS employees hired locally. The
Manila office staff will eventually total forty to fifty including Engineering,
Operations, Sales and Marketing, Customer Service, Training and Administrative
personnel.

B.               NAITAS agrees to formally endorse
and promote the TDS system to at least 60% of its member subscribers in the
Philippines and elsewhere within thirty days of the finalization of this
contract. NAITAS shall promote TDS to its members via direct mail in the form
of an official letter signed by the Chairman and President of NAITAS directing
member agencies to adopt the NAITAS private label reservation system. TDS
reserves the right to review the initial endorsement letter before
distribution. In
addition, NAITAS shall promote the new system via fax, radio, television,
industry publications, general magazines and newspapers. NAITAS shall provide
copies to TDS of all letters, faxes, video tapes, articles, press releases,
photographs, audio tapes, etc. as they become available. NAITAS will exert
considerable influence upon the Travel Cooperative of the Philippines (TCP) to
switch to the NAITAS private label system as soon as possible. NAITAS will also
use its “best efforts” to influence Philippine Airlines and Cebu Pacific to
allow TDS access (Direct Connect) to the Philippine Airlines and Cebu Pacific
databases.

C                  Pursuant to the terms and conditions of this Agreement, TDS
or its designated affiliate wilt provide to NAITAS the Products specified on
the attached Products/Services Designator, which shall include a license to use
any Software provided hereunder. TDS owns or properly licenses each of the TDS
Products and is authorized to distribute the Services to NAITAS member
subscribers. These products will be private labeled (NAITAS) for use by NAITAS
members.

D.              TDS will provide NAITAS Subscribers access to the
Products/Services via the public Internet. From February 25, 2006 to February 24,
2007, TDS Products/Services will be provided free of charge to any NAITAS
member that signs a subscriber agreement with TDS. TDS shall have sole
responsibility for any interface between the TDS software application and the
Services.

E.                End Users will be allowed to access the Products/Services
only via their use of TDS software applications.

2.                 DEFINITIONS

A.             “Booking” means an active booking or a ticketed passive
booking for the services of an air, car, hotel, cruise or tour vendor that
participates in the Services, less cancellations thereof, which (i) is
made by TDS or a End User directly via the Services or TDS; (ii) results
in a fee payable directly or indirectly by the vendor to eLong; and (iii) is
not speculative, fictitious, or made solely for the purpose of achieving
productivity-based booking objectives.

	
   

  	
  /s/ Angel Bognot

  	
   

  	
  /s/ Robert Lim Joseph

  	
   

  

 

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B.               “Documentation” means all manuals, operating procedures,
instructions, guidelines, and other materials provided by TDS to NAITAS
subscribers, including electronic formats.

C.               “Reservation Expert” means the Internet-based “front-end”
software applications developed and maintained by TDS that integrate GDS
Services and allow End Users to access the data and information contained
within the Services in order to make travel-related bookings.

D.              “End User” means a travel agency or an individual
consumer that has entered into an End-User License Agreement with TDS to
utilize the Triton Distribution System or that is a user of an Internet website
that is linked to TDS for the purpose of accessing travel reservation services.

E.                “System” means a system of computer hardware, software
utilizing the Internet, used to distribute its Services by routing messages and
data between the Nodes and the TDS Datacenter.

F.                “Subscriber” means any travel agent or other person that
has entered into a subscriber agreement with TDS to gain access to the
Products/Services.

G.               “Transaction” means one or more messages accessing the
Services that are transmitted by TDS or by an End User via the TDS System.

H.              “Interface software” means any forms, message formats,
and applications which perform transactions between NAITAS Subscribers and TDS.

3.                 TERM

This Agreement will
commence on February 25, 2006 (“Contract Effective Date”) and will expire November 30, 2009; TDS and NAITAS agree to
renew this Agreement for an additional 36-month period at terms mutually agreed
to.

4.                 USE OF PRODUCTS/SERVICES

A.              TDS will provide to NAITAS member
subscribers the proprietary products listed in Attachment A.

B.               TDS has no ownership, right, or title in or to any travel
vendor products, and may not remove identifying marks from the vendor products
or subject same to any lien or encumbrance. TDS will utilize the travel vendor
products strictly in accordance with the Documentation.

C.               End Users may access the Services only through their use
of the TDS System. All End Users are solely the customers of TDS.

D.              NAITAS is expressly prohibited from soliciting or selling
any TDS services to any TDS customer.

5.                 FINANCIAL MATTERS

A.             TDS will remit to NAITAS a monthly stipend of PHP 300,000
on the twelfth day of each month of the thirty-six month term of the contract. When NAITAS has issued the initial, official TDS endorsement letters to
at least 60% of its members, TDS will accelerate four months of the PHP 300,000
stipend in one lump sum payment. The regular monthly payments will resume on
the twelfth day of fifth month following the accelerated lump-sum payment. For
example: If NAITAS provides documentation that it has issued the letter to at
least 60% of its member on March 20,
2006, then the April 12, 2006 payment will be accelerated to PHP 1,200,000
and the regular payment of PHP 300,000 will resume on August 12, 2006.
Of the PHP 300,000 stipend, one
third, or PHP 100,000 shall be
transferred monthly to TCP in exchange for its assistance. This monthly
transfer shall continue until such time as TCP signs a separate agreement with
TDS.

 2
 

 

 

6.                 THIRD PARTY PRODUCTS

TDS has no liability
whatsoever with respect to any product that is not provided by TDS (“Third
Party Product”) and is used by TDS in conjunction with the TDS
Products/Services.

7.                 WARRANTIES

A.             TDS represents and warrants that: (i) it is the
owner or authorized licensee of the Services; (ii) it has the right to
provide the Services to designated subscribers; and (iii) it shall use
commercially reasonable efforts to maintain the availability of the Services.

B.               This warranty shall be null and void if Subscriber (i) fails
to use the Services in accordance with the documentation and this Agreement; (ii) fails
to use required Updates; or (iii) makes any unauthorized change to the
Services. Furthermore, TDS shall have no liability to Subscriber whatsoever if
Subscriber’s use of a Third Party Product proximately causes the failure of
performance under Article 10.A

C.               TDS (i) MAKES NO OTHER WARRANTY WITH RESPECT TO THE
SERVICES OR ANY PRODUCTS OR SERVICES PROVIDED BY TDS; (ii) MAKES NO
WARRANTY WHATSOEVER WITH RESPECT TO THIRD PARTY PRODUCTS; AND (iii) EXPRESSLY
DISCLAIMS ALL OTHER WARRANTIES, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE.

D.              Subject to Article 8.B, in the event of a claim by a
third party against TDS due solely to an alleged breach of a warranty set forth
in Article 8.A(i) or 8.A(ii), Subscriber will defend GRS and hold TDS
harmless against such claim; provided that (i) TDS notifies Subscriber of
such claim within 30 days after it becomes aware of the claim; (ii) Subscriber
controls the defense and any settlement of such claim; and (iii) TDS
cooperates in Subscriber’s defense of the claim. The remedies available under this Article 8 are
exclusive of any other remedy provided for in this Agreement or any other
remedy, now or hereafter existing at law, in equity, by statute or otherwise
for breach of Article 8.A.

E.                TDS represents and warrants that no written or oral
representation or warranty made or information furnished by TDS to NAITAS
contains any untrue statement of material fact.

8.                 LIMITATION OF LIABILITY

Except for the
specific remedies provided for in Articles 8 and 11 of this Agreement, TDS shall
not be liable to NAITAS under contract law or in tort for (and NAITAS hereby
waives and releases TDS, its officers, directors, employees, agents, successors
and assigns from) all obligations, liabilities, rights, claims, damages and remedies
of TDS, arising by law or otherwise, due to any defects, errors, malfunctions,
performance, failure to perform, use of the Services (or any part thereof),
interruptions of Services, or acts of TDS’s agents or subcontractors. Further,
without limiting the generality of the foregoing, eLong shall not in any case
be liable for lost business, lost revenue, lost profits, lost data, lost
savings or any economic loss or damage of any kind or nature, including any
other direct, indirect, incidental, special or consequential damages.

9.                 TERMINATION FOR CAUSE

A.             if either party (the “Defaulting Party”) falls to perform
or observe any of its material obligations hereunder, and such failure
continues for a period of 30 business days after written notice (except in any
circumstance where a cure is impossible in which case there shall be no cure
period) from the other party (the “Insecure Party”), then the Insecure Party
may immediately terminate this Agreement. If NAITAS is the Defaulting Party
hereunder, then, without prejudice to any other rights or remedies of TDS,
including the right to recover liquidated damages, all or any of the rights of
eLong under this Agreement may, at the option of TDS, be terminated, reduced or
restricted.

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B.               Notwithstanding anything to the contrary in this
Agreement, provisions that by their nature and intent should survive expiration
or termination, including, but not limited to, those related to
confidentiality, liquidated damages. Software license restrictions, and risk of
loss, shall so survive.

10.          INDEMNIFICATION

A.             Each party (“Indemnitor”) shall indemnify and hold harmless
the other party, its owners, officers, directors, employees, agents, successors
and assigns (each an “Indemnitee”), against and from third party liabilities,
including reasonable attorneys’ fees, costs and expenses incident thereto,
which may be incurred by an Indemnitee solely by reason of any injuries or
deaths of persons, or the loss of, damage to, or destruction of property,
including loss of use thereof, arising out of or in connection with any act,
failure to act, error or omission of the Indemnitor, its officers, directors,
employees, agents or subcontractors in the performance or failure of
performance of its obligations under this Agreement.

B.               TDS and NAITAS shall indemnify and hold harmless the
other party, its owners, officers, directors, employees, agents, successors and
assigns, against and from any and all third party liabilities, including
reasonable attorneys’ fees, costs and expenses incident thereto, which may be
incurred solely as a result of the other party’s use of the Services,
including, without limitation, fraudulent bookings, unintended errors, or
incorrect information.

11.          DAMAGES

If one party fails
to perform or observe its obligations pursuant to the provisions of Article 7
or 13 hereof, then the other party shall be liable to the non-performing party for all legal damages and equitable
relief available under the law, including, without limitation, injunctive
relief, monetary damages, attorneys’ fees and all costs incurred in enforcing
such provisions. Further, nothing contained in this Article 12 shall be
deemed to limit the indemnification obligations specified elsewhere in this
Agreement.

12.          CONFIDENTIALITY

Neither party shall
disclose the trade secrets and proprietary and confidential information of the
other party, including, but not limited to, the provisions of this Agreement:
provided, however, either party may share the terms of this Agreement with its
accountant and attorney strictly on a need-to-know basis. Neither party shall
use the name, logo or product names of the other in brochures, proposals,
contracts or other publicly disseminated materials without first securing the
other party’s written approval.

13.          GOVERNING LAW: JURISDICTION

This Agreement and
any disputes arising under or in connection with this Agreement shall be
governed by the internal laws of the State of California, without regard to its
conflicts of laws principles. All actions brought by NAITAS to enforce, arising
out of or relating to this Agreement shall be brought and tried in federal or
state courts located within the County of Marin, State of California, and the
parties hereby consent to submit to the personal jurisdiction of such courts
and to venue therein.

14.          SALE AND ASSIGNMENT

Neither party shall
not assign or transfer this Agreement, or any part thereof, without the prior written consent of the other
party, which consent shall not be unreasonably withheld.

15.          GENERAL

A.             Neither party shall be deemed to be in default or liable
for any delays if and to the extent that performance is delayed or prevented by
an event of force majeure.

B.               The failure of either party to exercise or its waiver or
forbearance of any right or
privilege under this Agreement shall not be construed as a subsequent waiver or
forbearance of any such term or condition by such party.

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C.               Any notice permitted or required to be given hereunder
shall be sent by first class mail, postage
prepaid, or by any more expedient written means to the address of TDS as specified
above; notices to NAITAS shall be sent to: the address of NAITAS as
specified above.

D.              If any provision of this Agreement is held invalid
or otherwise unenforceable, the enforceability of the remaining provisions will
not be impaired thereby.

E.                in the event of an action to enforce this Agreement
or to seek remedies for a breach of this agreement, the prevailing party shall
be entitled to receive from the other party reimbursement of its reasonable
attorneys’ fees, expenses and court costs.

16.          ENTIRE AGREEMENT

This Agreement, together with any attachments now or hereafter made, each
of which is,
without further affirmation, added to
and made a part hereof, constitutes the entire agreement and understanding of
the parties on the subject matter hereof and, as of the Contract Effective
Date, supercedes all prior written and oral agreements between the parties,
excluding amounts due eLong which may have accrued under the Original
Agreement. This Agreement may be modified only by written agreement of the parties. In the event that the
provisions of an attachment conflict with any terms herein, then the provisions
of the attachment shall control.

By signing below, the parties acknowledge their
acceptance of the terms and conditions of this Agreement and its attachments.

	
  Triton Distribution Systems, Inc.

  	
  NAITAS

  
	
  One Harbor Drive, Suite 300

  	
  2F-Rm. 201 KIMVI Bldg., 1191
  Marla Orosa St.,

  
	
  Sausalito, CA 9465

  	
  Ermita Manila,

  
	
   

  	
   

  
	
  Signature:

  	
   

  	
   

  	
  Signature:

  	
  /s/ Robert Lim Joseph

  
	
  Printed Name:  Gregory Lykiardopoulos

  	
  Printed Name:  ROBERT LIM JOSEPH

  
	
  Title:  Chairman
  and CEO

  	
  Title:  Chairman of the Board

  
	
   

  	
   

  
	
   

  	
  Signature:

  	
  /s/ Angel Bognot

  
	
   

  	
  Printed Name:  ANGEL BOGNOT

  
	
   

  	
  Title:  President

  
					

 

ATTACHMENT A

Proprietary TDS, Inc. Travel Agency Business Applications

·        ReservationExpertTM

·        TourExpertTM

·        CruiseLinkTM

·        IARTM

·        ItinClientTM

·        Red Dragon ExpressTM

·        International Pricing

·        CruiseExpertTM

·        ResLinkTM

·        TourLinkTM

·        TicketClientTM

·        AccountingClientTM

·        TwistTM

·        Private & Special Fares

 5Exhibit 10.3

 

	
  

  	
  

  

 

MEMORANDUM OF UNDERSTANDING

BETWEEN

MALAYSIAN AIRLINE SYSTEM BERHAD

(10601-W)

AND

GRS NETWORK MALAYSIA SDN BHD

(681574-P)

AND

GRSNETWORK INC

 

 

THIS
MEMORANDUM OF UNDERSTANDING  (“MoU”)
is made and entered into on the 5th day of May, 2005,

Between

Malaysian
Airline System Berhad (10601-W), a company incorporated
in Malaysia with its registered office at 33rd floor, Bangunan MAS, Jalan Sultan Ismail,
50250 Kuala Lumpur Malaysia (hereinafter referred to as “MAS”).

And

GRS
Network Malaysia Sdn Bhd (687415-P), a company
incorporated in Malaysia with its registered office at 20-1B Jalan Pandan
2/1, Pandan Jaya, 55100 Kuala Lumpur Malaysia (hereinafter referred to as “GRS (M)”).

And

GRSNetwork, Inc.,
a company incorporated in USA with its registered office at 2320 Marinship Way Suite 250,
Sausalito, California, USA, (hereinafter referred to as “GRS (US)”),
and parent company of GRS (M).

(MAS, GRS (US) and
GRS (M) shall be collectively referred to as “the Parties” and
individually as “the Party”.).

NOW
THEREFORE THE PARTIES UNDERSTAND WITH EACH OTHER AS FOLLOWS:-

1.             OBJECTIVE

1.1           The
purposes of entering into this MoU are to cooperate and mutually enhance
business arrangements and business coordination between the Parties, by the
establishment of a distribution partnership, wherein MAS undertakes to make its
product or products of its choice available in GRS (US) distribution network
for sale to travellers and/or through travel agents and/or any such parties, in
any suitable market areas.

For avoidance of doubt it is also understood and
acknowledged that GRS (M) and GRS (US) shall assist MAS in exploring
avenues of reducing MAS’ overall and specific distribution cost through this
cooperation.

2.             DURATION

2.1           This
MoU is valid for a period of twelve (12) months from the date hereof
(hereinafter referred to as “the Validity Period”).

2.2           Notwithstanding
Clause 2.1 above, in the event that any Party is unable to finalize and
conclude the specific contracts within the Validity Period, this MoU shall
terminate forthwith unless extended for a further period if mutually agreed by
the Parties in writing.

 2
 

 

 

2.3           Upon
termination of this MoU for whatever reason the Parties acknowledge and agree
that they shall not make any claims of whatever nature against each other and
FURTHER THAT each Party shall not in any way be liable for the costs and
expenses incurred by the other Parties pursuant to this MoU.

2.4           Notwithstanding
Clauses 2.1 and 2.2 above, the MoU can be extended both in time period and
scope to cover other products or market areas that are mutually agreed by all
Parties in writing.

3.             SCOPE OF THE MOU

3.1           The
parties intend to co-operate in the areas mentioned herein. However, the co-operation
shall be subject to the execution of mutually agreeable contract/s within the
Validity Period or any extension thereof to cover each area of co-operation, if
so required. Should one or more of the areas of co-operation not be concluded
by a specific contract or a specific contract becomes incapable of performance
by virtue of any law, regulation or directive of a competent authority, the
Parties shall in good faith review the entire co-operation and agree to a
reasonable alternative course of action, failing which the Parties may
terminate this MoU and/or any or all specific contract.

3.2           Upon
termination of this MoU pursuant to the above Clause 3.1, Clause 2.3 shall
apply.

OBLIGATIONS OF MAS:

(i)            To
select and make available suitable products for sale through GRSNetwork
distribution network;

(ii)           Grant
GRS (US) access to MAS inventory for the purpose of making reservations,
through acceptable system-to-system interfaces with acceptable security
measures.

(iii)          MAS
products may include but are not limited to the following:

·      Published air fare

·      Market air fare

·      Promotional air fares

·      Interline air fare

·      Other
travel related products deemed by MAS suitable for sale through GRSNetwork
distribution network.

OBLIGATIONS OF GRS (M):

(i)            Shall
act as representative of GRS (US) in all matters relating to and resultant from
this MoU.

(ii)           Be
the Party with whom MAS will enter into any contract or agreement resulting
from this MoU,

(iii)          With
assistance from GRS (US), develop the required interfaces to acceptable MAS
systems and system security standards, between GRSNetwork applications and
relevant MAS computer system.

 3
 

 

 

(iv)          With
assistance from GRS (US), provide the necessary services for the implementation
of the GRSNetwork products, including but not limited to any training or
briefing sessions.

OBLIGATIONS OF GRS (US):

(i)            Shall
make available to GRS (M) the following application system products:

·      Reservation Expert for air, car and hotel
worldwide.

·      Cruise Expert for cruises worldwide.

·      Tour Expert for tours worldwide.

·      Red Dragon for domestic Chinese airlines
and hotels.

·      Access to the MAS database on a
direct-connect basis via the SITA Network.

·      Web Service products SITA and GRS Twist
enabling application-to-application Internet communications.

·      Any other products developed by GRS USA
that are deemed to be useful to GRS Malaysia.

·      All
GRS products are offered in eleven different languages including Malay
traditional and simplified Chinese.

3.3           The
Parties agree that the market areas may include but is not limited to the
following:

·      Domestic
destinations within Malaysia

·      International
destinations into and out of Malaysia

·      Domestic
destinations within USA and travel between points in the US and Malaysia

·      Domestic
destinations within the Peoples Republic of China and travel between points in
Peoples Republic of China and Malaysia

·      Any
other travel between other MAS destinations deemed suitable for distribution
through GRSNetwork distribution network.

3.4           The
Parties shall make available the necessary resources, human or otherwise, to
enable the effective performance of this MoU and the provision of such
resources shall be at an agreed time, place and duration, at the expense of the
respective Party.

3.5           The
Parties agree to evaluate the feasibility to jointly conduct marketing
campaigns to promote the distribution of MAS products in the GRSNetwork
distribution network to travel agents and/or any other relevant party as deemed
reasonably appropriate.

3.6           The
Parties agree to evaluate the feasibility to jointly develop solutions for
application in the following areas:

·      Corporate Booking Management

·      Government Booking Management

·      Any
other such relevant areas that may be later deemed suitable for inclusion in
this scope.

 4
 

 

 

4.             NOTICES

A notice given by a party to another party under this
MoU must be in writing and delivered to such Party’s address specified below,
or at such other address as either Party may specify in writing.

 

	
   

  	
  GRS (M):

  	
   

  
	
   

  	
  Corporate Secretarial
  Management Sdn Bhd

  	
   

  
	
   

  	
  20-1B Jalan
  Pandan 2/1, Pandan Jaya,

  	
   

  
	
   

  	
  55100 Kuala Lumpur,
  Malaysia

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  Mrs Yee Soo Fong

  	
   

  
	
   

  	
  Tel:

  	
  03-92823873

  	
   

  
	
   

  	
  Fax:

  	
  03-92858145

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GRS (US):

  	
   

  
	
   

  	
  GRSNetwork, Inc

  	
   

  
	
   

  	
  2320 Marinship Way Suite 250,
  Sausalito,

  	
   

  
	
   

  	
  CA, USA,

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  Terry Byers

  	
   

  
	
   

  	
   

  	
  Company Secretary

  	
   

  
	
   

  	
  Tel:

  	
  (415) 289-0564

  	
   

  
	
   

  	
  Fax:

  	
  (415) 289-0879

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MAS:

  	
   

  
	
   

  	
  Malaysian Airline
  System Berhad,

  	
   

  
	
   

  	
  3rd Floor, Admin 2 Building, MAS Complex A,

  	
   

  
	
   

  	
  Sultan Abdul Aziz Shah
  Airport

  	
   

  
	
   

  	
  47200 Subang, Malaysia

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  Md Saat Abd Samad

  	
   

  
	
   

  	
   

  	
  Asst General Manager
  Distribution

  	
   

  
	
   

  	
  Tel:

  	
  (603) 7840 2313

  	
   

  
	
   

  	
  Fax:

  	
  (603) 7847 1460

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  With copy to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Malaysian Airline
  System Berhad,

  	
   

  
	
   

  	
  33rd Floor, Bangunan MAS

  	
   

  
	
   

  	
  Jalan Sultan Ismail

  	
   

  
	
   

  	
  50250 Kuala Lumpur,
  Malaysia

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attention:

  	
  En. Rizani Hassan

  	
   

  
	
   

  	
   

  	
  Company Secretary

  	
   

  
	
   

  	
  Tel:

  	
  (603) 2165 5008

  	
   

  
	
   

  	
  Fax:

  	
  (603) 2162 8305

  	
   

  

 

 5
 

 

 

5.             CONFIDENTIALITY OF INFORMATION

5.1           Any
or part of any information or data disclosed to one Party by any of the other
Parties pursuant to this MoU including but not limited to:

(a)           any
information relating hereto disclosed prior to the date hereof;

(b)           any
information of any kind, whether in printed or electronic format, including but
not limited to information relating to that Party’s customer’s database,
business operations, processes, plans, intentions, products, information,
know-how, design, rights, trade secrets, software, intellectual property rights
whether or not registered, market opportunities, customers and business
affairs;

whether or not labelled as “Confidential”; shall be
treated as confidential by the receiving Party (hereinafter referred to as “Confidential
Information”).

5.2           Each
Party shall from the date of signing this MoU protect all Confidential
Information that the receiving Party shall receive from any of the other
Parties by:

(a)           holding
such information in strictest confidence as it would its own Confidential
Information;

(b)           not
to use any Confidential Information disclosed to it for its own use or for any
purpose except for the purposes as set forth herein;

(c)           restricting
the disclosure to the authorized officers and employees or personnel of the
respective Parties concerned on a need to know basis and will promptly notify
the disclosing Party in writing of the names of each employees upon the request
of the disclosing Party at any time.

PROVIDED ALWAYS THAT the foregoing
shall not apply where the disclosure of such information is pursuant to an
order of the Court or under any written laws in Malaysia, any information which
is or becomes part of the public knowledge in any way without the breach of
this MoU by the receiving Party or which the receiving Party can show that the
information was in its possession or known to it, being in its use or being
recorded in its files or computers or other recording media prior to receipt
from the disclosing Party and was not previously acquired by the receiving
Party from the disclosing Party under an obligation of confidence.

5.3           This
provision will continue in force notwithstanding the termination of this MoU
for any reason.

6.             GOVERNING LAWS AND EXCLUSIVE JURISDICTION

6.1           This
MoU shall be interpreted and governed in accordance with the laws of Malaysia
and the Parties agree to submit themselves exclusively to the jurisdiction of
the Malaysian Courts.

 6
 

 

 

AS
WITNESSED this MEMORANDUM OF UNDERSTANDING has been signed on
behalf of each Party by its duly authorized representative on the day and year
first above written.

 

	
  Signed by,

  
	
  For and on behalf of

  
	
  Malaysian Airline System Berhad

  
	
  (10601-W)

  
	
   

  
	
  

  
	
  Dato’ Rashid Khan

  
	
  Seniof General Manager

  
	
  Sales, Distribution &
  Marketing

  
	
   

  
	
   

  
	
  Signed by,

  
	
  For and on behalf of

  
	
  GRS Network Malaysia Sdn Bhd

  
	
  (687415-P)

  
	
   

  
	
  

  
	
  Dato’ Liew Hoong

  
	
  Chief Executive Officer

  
	
   

  
	
   

  
	
  Signed by,

  
	
  For and on behalf of

  
	
  GRSNetwork Inc.

  
	
   

  
	
  

  
	
  Gregory Lykiardopoulos

  
	
  Chairman and Chief
  Executive Officer

  

 

 7

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