Document:

ex10-15.htm

     

     Exhibit
10.15 

    

     Memorandum
of Intention 

     

     Between 

    

     SOCHI
STATE UNIVERSITY FOR TOURISM AND RECREATION 

     (SUTR) 

     and 

     VEMICS,
Inc. 

     

     1.              The
Purposes of the Memorandum of Intention 

     

     SUTR
and VEMICS will carry our preparatory work aimed at creating a partner team for
development and realization of joint language training program for university
students as well as for various target groups of Sochi citizens considering
pre-Olympic 2014 challenges. The following directions of cooperation have been
determined: 

     

    
      	
               ·   

            	
               Teaching
      foreign languages 

            

    

    
      	
               ·   

            	
               Teaching
      Russian as a foreign language 

            

    

    
      	
               ·   

            	
               Hospitality
      Industry programs 

            

    

     

     2.              Pre-Collaboration
Activities 

     

     The
parties agreed that the activities listed below must be completed before a
formal collaboration agreement can be entered into: 

     

    
      	
               ·   

            	
               Development
      of a joint plan of activities to attain status of official Olympic partner
      and search for funding sources 

            

    

    
      	
               ·   

            	
               Organization
      of a joint presentation "Olympic Linguistic Center in Sochi" at the
      Investment Economic Forum "Sochi
-2007" 

            

    

    
      	
               ·   

            	
               Selection
      of educational resources and organization of study
    rooms 

            

    

    
      	
               ·   

            	
               Establishing
      effective channels of
communication 

            

    

    

     3.           Financial
Matters 

     

     Certain
costs will be incurred in relation to this agreement and in particular to the
pre­-collaboration activities. The parties agree that each party, for the
present, shall bear its own costs. 

     

     4.          Collaboration 

     

     Upon
successful completion of the pre-collaboration activities the parties will
attempt to agree a basis for formal collaboration by way of an agreement
containing appropriate and necessary memoranda/agreements covering the
responsibilities of each party, financial arrangements, and administrative
procedures. 

    

     5.           Effective
Date and Term 

     

     This
memorandum shall come into effect on the date of signing as specified below and
shall continue until a collaboration agreement is signed or the parties agree
not to proceed further. 

    

     6.           Confidentiality 

     

     Each
party shall keep confidential all information and materials produced, acquired
for or otherwise used in connection with this agreement and shall not use it for
any other purpose than in pursuance of this agreement or disclose it to any
person without the prior written consent of the party who owns
it. 

     

     

    
      
         

      

      
         1 

        
          

        

      

      
         

      

    

    

     7.          Intellectual
Property 

     

     Ownership
of intellectual property shall vest in the party who creates it and shall be
treated as confidential information unless specifically agreed otherwise by the
parties 

    

     8.          Name
and logo 

     

     Neither
party shall use the name or logo, or any variation thereof, of the other without
first obtaining written consent. 

    

     9.          Legal
Effect 

     

     This
agreement is not intended to be legally binding and no contract, partnership or
joint venture is created by it.  Notwithstanding the foregoing,
clauses 6, 7 and 8 shall survive the termination or expiry of this
agreement. 

    

     10.        Termination 

     

     This
memorandum may be terminated by: 

    

    
      	
               a 

            	
               mutual
      agreement between the parties prior to completion of the pre-collaboration
      activities; or 

            

    

     

    
      	
               b 

            	
               either
      party where the pre-collaboration activities evidence that collaboration
      is no longer viable; or 

               

            

    

    
      	
               c.   

            	
               completion
      of the pre-collaboration activities (whether this is successful or
      not). 

            

    

     

     Successful
completion of the pre-collaboration activities is not a guarantee of a formal
collaboration. 

    

     11.           Third
Parties 

     

     A
person who is not a party to this agreement shall have no rights to rely upon or
enforce any term of this agreement provided that this does not affect any right
or remedy of the third party which exists or is available apart from this
Memorandum. 

     

     

    
      
         

      

      
         2 

        
          

        

      

      
         

      

       

       IN WITNESS whereof the
undersigned being the duly authorized representatives of the respective parties,
hereby sign and approve this memorandum. 

    

    

    
       Date
August 30, 2007 

    

     

     

     

     For
Sochi State University for Tourism and
Recreation                                                                                 
For VEMICS, Inc. 

     

                                                                                 
        

    

     Andrey
A
Tatarinov                                                                                                                                             
E. James Pennington  

              
Rector                                                                                                                                                         
            
President 

     Date
August 30,
2007                                                                                                                                            
Date
August 30, 2007 

     

    

     

     

    

    
      
         

      

      
         3ex10-16.htm

     Exhibit
10.16 

     CONTROL#
12920 

     DEC
13 2006 

    

     Agreement
Between 

     

     University
of Miami 

     Division
of Continuing and International Education 

     

     And 

     

     Vemics 

    

     This
agreement entered into this 12th of December, 2006 by and between the University
of Miami ("UM"), whose address is 1508 Levante Avenue, Room 327, Coral Gables,
Florida 33124, on behalf of its Division of Continuing and International
Education ("DCIE") and VEMICS ("Vemics"), whose address is 523 Avalon Gardens
Drive, Nanuet, NY 10954. 

    

     In
consideration for the mutual promises, terms, covenants and conditions set forth
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by the parties, the parties agree
as follows: 

    

     Responsibilities of
Parties: 

    

    DCIE
shall : 

    

    
      	
                
      

            	
               1. 

            	
               Identify
      a DCIE representative who shall be the main contact with VEMICS for
      purposes of this agreement and who will be able to determine the
      suitability of potential educational projects proposed by VEMICS and/or
      "market" as agreed upon or
determined. 

            

    

    
      	
                
      

            	
               2. 

            	
               Develop
      curriculum for projects negotiated between representatives of VEMICS and
      DCIE; the first project will be offering of a 3-week English program to
      select corporate clients (agreements) in
  Russia. 

            

    

    
      	
                
      

            	
               3. 

            	
               Provide,
      if appropriate, all materials for educational
  programs. 

            

    

    
      	
                
      

            	
               4. 

            	
               Be
      solely responsible for the hiring, supervision, and evaluation of
      instructors for all projects. 

            

    

    
      	
                
      

            	
               5. 

            	
               Provide
      appropriate collateral material copy in English when needed for
      international marketing
efforts. 

            

    

    
      	
                
      

            	
               6. 

            	
               Be
      responsible for registration and collection of fees from the corporate or
      individual client that has a foreign currency bank account. If the client
      does not have a foreign account, UM will authorize DLT (Distance
      Technology and Learning) in Russia to collect fees subject to an 18%
      VAT. 

            

    

    

    Vemics
shall : 

    

    
      	
                
      

            	
               1. 

            	
               Provide
      Vemics LiveAccess hosted service solution as a platform (defined in
      Appendix A) for products to be offered by
  DCIE 

            

    

    
      	
                
      

            	
               2. 

            	
               Be
      responsible for marketing and administrative functions in selected global
      regions with prior written approval of DCIE of all marketing materials.
      Initially, this agreement will encompass Russia and the CIS only.
      Representation in other regions of the world will be determined through
      future discussions. 

            

    

    
      	
                
      

            	
               3. 

            	
               Provide
      the required number of virtual seats as needed by
  UM 

            

    

    
      	
                
      

            	
               4. 

            	
               Provide
      technical support and, if necessary, online
  training 

            

    

    
      	
                
      

            	
               5. 

            	
               Provide
      full Help Desk and Customer Service Support (M-F, 8 am to 8 pm
      EST) 

            

    

    
      	
                
      

            	
               6. 

            	
               Provide
      unlimited free download rights to Vemics LiveAccess client software with
      availability 24/7 

            

    

    
      	
                
      

            	
               7. 

            	
               Offer
      at no additional cost any software upgrades that are or become
      available; 

            

    

    
      	
                
      

            	
               8. 

            	
               Provide
      total support for the Vemics LiveAccess Total Managed Event
      Service 

            

    

    
      	
                
      

            	
               9. 

            	
               Make
      available dedicated servers for UM programs, seminars, and
      courses 

            
	   	 10. 	 Customize
      and brand Vemics interface used in UM programs with UM look and feel with
      written approval from UM prior to use. 
	   	
               11. 

            	
               Identify
      a Vemics representative who shall be the main contact to UM for the
      purpose of this agreement. 

            

    

    

     Financial
Considerations: 

    

    
      	
                
      

            	
               1. 

            	
               DCIE
      will provide a $100,000 payment as the fee. The immediate services for
      delivery will include: 

            

    

    
      	
                
      

            	
               a. 

            	
               Dedicating
      servers to DCIE; 

            

    

    
      	
                
      

            	
               b. 

            	
               Customizing
      and branding for the UM look and feel as set forth
    above 

            

    

    
      	
                
      

            	
               c. 

            	
               Providing
      instructional design consulting and training for professors and
      technical/help desk training to appropriate
  staff. 

            

    

    
      	
                
      

            	
               2. 

            	
               The
      $100,000 will be paid as follows: $60,000 on signing of contract; $20,000
      on delivery of both 1.b. and 1.c.; $20,000 on commencement of program
      approved by DCIE. 

            

    

    
      	
                
      

            	
               3. 

            	
               DCIE
      will retain the initial $200,000 in gross revenue generated from the
      program. Vemics shall provide monthly reports of gross revenue as
      appropriate in a format approved by
DC1E. 

            

    

    
      	
                
      

            	
               4. 

            	
               After
      the initial $200,000 in generated gross revenue will be split 60% to DCIE
      and 40% to Vemics. Failure to generate $200,000 of gross revenue will
      require Vemics to return $50,000 of initial fee to DCIE if no further
      programs are planned or DCIE cancels this agreement. In the event that
      additional programs are agreed upon, tuition will go to DCIE until the
      $200,000 total is attained. Tuition and/or fees for every program using
      Vemics LiveAccess solution will be discussed with Vemics, but final
      tuition/fees will be the sole responsibility of
  DCIE. 

            

    

    
      	
                
      

            	
               5. 

            	
               Gross
      revenue shall include all tuition and payments received, reduced by any
      VAT, refunds or uncollected
revenue 

            

    

    
      	
                
      

            	
               6. 

            	
               DCIE
      will be responsible for the registration of students and the collection of
      fees when applicable. 

            

    

    
      	
                
      

            	
               7. 

            	
               If
      the VAT tax (18%) must be collected, the additional cost will be split
      60/40 between DCIE and Vemics.  The obligation to pay VAT tax
      shall be the sole responsibility of
Vemics. 

            

    

    

    
      
         

      

      
         1 

        
          

        

      

      
         

      

    

     Miscellaneous 

    

    Indemnification

    

     Each
party to this Agreement agrees to indemnify the other, its trustees, officers,
agents, servants and employees against liability for all claims, demands,
damages, actions, or causes of action of whatever type of nature (including
costs and expenses incurred) arising out of the gross negligence or willful
misconduct of such party in connection with or related to this
Agreement. 

    

     Vemics
shall indemnify, defend and hold harmless UM, DCIE and its trustees, officers,
employees and students from and against any claims, liabilities, costs including
attorneys' fees arising from 1) any claim for infringement of any intellectual
property rights or trade secrets brought against UM, DC1E, its trustees,
officers, employees or students and/or 2) any claim brought by any employee,
subcontractor or agent of Vemics against UM, DCIE, its trustees, officers,
employees or students. 

    

     UM,
DCIE shall indemnify, defend and hold harmless Vemics and its directors,
officers, employees and students from and against any claims, liabilities, costs
including attorneys' fees arising from 1) any claim for infringement of any
intellectual property rights or trade secrets brought against Vemics, its
directors, officers, employees or students only to the extent that such
infringement is caused solely for products developed by UM, DOE and/or 2) any
claim brought by any employee, subcontractor or agent of UM, DCIE against
Vemics, its directors, officers, employees or students. 

    

    Use of
Name

    

     Vemics
shall not use the University's name or logo in any manner whatsoever unless and
until the same shall have first been submitted and approved by the Vice
President of DCIE or its designee in writing. 

    

     DCIE
shall not use the Vemics name or logo in any manner whatsoever unless and until
the same shall have first been submitted and approved by the CEO of Vemics or
his designee in writing. 

    

    Assignment

    

     Neither
party will assign this Agreement or any of its rights or obligations hereunder
without the prior written consent of the other party. This Agreement will be
binding upon, enforceable by, and inure to the benefit of the parties and their
respective successors and permitted assignees. 

    

    Confidentiality

    

     Each
party agrees that during the term of this Agreement and for two (2) years
thereafter, it shall not disclose to any third party the terms or conditions of
this Agreement or any Confidential Information of the other party, except as
expressly authorized herein. The term "Confidential Information" shall mean all
non-public information that either party designates as being confidential, or
which, under the circumstances of disclosure ought to be treated as
confidential. "Confidential Information" shall not include information that was
known to the receiving party prior to the disclosing party's disclosure to the
receiving party or information that becomes publicly available through no fault
of the receiving party. 

    

     Representations
and Warranties 

    

    
      	
                
      

            	
               1. 

            	
               Each
      party represents and warrants
that: 

            

    

    
      	
                
      

            	
               a. 

            	
               It
      has the power and authority to enter into this Agreement and
      is 

            

    

    
      	
                
      

            	
               permitted
      by applicable law and regulations to enter into this
      Agreement; 

            

    

    
      	
                
      

            	
               b. 

            	
               It
      will comply with all applicable laws in the performance of
      its 

            

    

    
      	
                
      

            	
               obligations
      under this Agreement; 

            

    

    
      	
                
      

            	
               c. 

            	
               It
      is not subject to any other agreement that would conflict with its ability
      to perform its obligations under this
  Agreement; 

            

    

    
      	
                
      

            	
               d. 

            	
               It
      has all right, title and interest in or is duly licensed to use all the
      technology, know-how and software used to develop the course(s) under this
      Agreement. 

            

    

    

    Insurance

    

     Each
party agrees to maintain, during the term of this Agreement, general liability
insurance with limits no less than one million dollars ($1,000,000) per
occurrence and two million dollars ($2,000,000) in the aggregate as well as
worker's compensation insurance in amounts required by statute. Each party shall
furnish a certificate of insurance evidencing the foregoing insurance to the
other party within ten (10) days of execution of this
Agreement. 

    

    Independent
Contractors

    

     The
parties expressly intend that both shall be deemed independent contractors under
this Agreement, that they have no relationship other than the one created by
this Agreement, and that the parties shall not receive any benefits other than
those expressly provided herein. The parties further intend that no agent,
servant, contractor, or employee of one party shall be deemed to be an agent,
servant, contractor, or employee of the other party. 

    

    
      
         

      

      
         2 

        
          

        

      

      
         

      

    

     Exclusivity 

    

     Vemics
agrees that it will not solicit other universities, colleges, post-secondary
educational institutions or proprietary schools for those courses or programs
that could be offered by the DCIE or the University of Miami. If Vemics would
like to offer a program from a competing institution, DC1E will be given the
right of first refusal. 

    

     General
Procedures and Terms: 

    

    
      	
                
      

            	
               1. 

            	
               This
      Agreement shall be in effect for three (3) years commencing December 1,
      2006 and ending November 30, 2009. The Agreement may be terminated by
      either party upon ninety (90) days written notice to the other party with
      the following conditions: 

            

    

    
      	
                
      

            	
               a. 

            	
               Any
      student currently enrolled at the time may be allowed to complete the
      course/ certificate program in which they are
    registered; 

            

    

    
      	
                
      

            	
               b. 

            	
               Any
      student who enrolls during the 90 days may register providing the
      course/program in which enrolling will occur within 90 days following the
      end date of the 90-day notice
period. 

            

    

    
      	
                
      

            	
               c. 

            	
               Any
      termination within the first six months shall require Vemics to return all
      of the initial fee ($100,000 and any other documented costs) to DCIE, less
      tuitions earned, and approved costs incurred and applied as stated
      above. 

            

    

    
      	
                
      

            	
               2. 

            	
               Force
      Majeure: For a reasonable time period, each party will be excused from
      delay or failure in performance due to causes beyond such party's
      reasonable control including without limitation, acts of God, government
      action, regulations, riots, wars, floods, or
    earthquakes. 

            

    

    
      	
                
      

            	
               3. 

            	
               Breach
      or Default: The non-breaching, non-defaulting party shall reserve all
      legal rights and remedies available for a breach or default provided that
      the non­breaching/defaulting party has provided written notice and an
      opportunity to cure within thirty (30) days from receipt of the notice to
      the breaching/defaulting party. 

            

    

    
      	
                
      

            	
               4. 

            	
               Any
      notices given under this Agreement shall be delivered via certified or
      registered mail, postage prepaid and return receipt requested and shall be
      deemed to have been given on the day when received by the party to whom
      the notice is given. 

            

    

    

    Entire
Agreement

    

     This
Agreement contains the entire agreement between the parties with respect to the
subject matter thereof. 

    

    Waiver

    

     No
waiver or modification of any of the provisions of this Agreement shall be valid
unless set forth in writing and signed by authorized representatives of each
party. 

    

    Governing
Law

    

     This
Agreement shall be construed in accordance with the laws of the State of Florida
and venue for any action arising from this Agreement shall be in the courts of
Miami-Dade County, Florida. 

    

    

     In
Witness Whereof, Vemics and DCIE agree to the terms and conditions set forth in
this Agreement. 

    

    

     

    
      	 VEMICS 	 University of
      Miami 	
               Alan J. Fish,
      Vice President 

            
	 BY:  	 BY:  	
               University of
      Miami 

            
	 Fred
      Zolla 	 Alan J. Fish,
      Vice President 	
               Business
      Services 

            
	 CEO, Vemics,
      Inc 	 Business
      Services 	
               1507 Levante
      Avenue, Room 327 

            
	   	   	
               Coral Gables, FL
      33146 

            
	   	   	
               Phone:
      305/284-5550 

            
	   	   	
               Fax:
      305/284-4543 

            
	   	   	
               Email: afish@miami.edu 

            

    

     

     Date:  December 13,
2006                                                      Date:  12/13/06 

     

    
      
         

      

      
         3 

        
          

        

      

      
         

      

    

     

    

     

     Appendix
A 

    

    

     Vemics/E1Desktop
will provide a cost-effective Vemics LiveAccess hosted total service solution
for various distance learning applications and assistance with marketing,
enrollment and administrative functions overseas and domestically that
replicates all the dynamics present in a live, face-to-face classroom using the
public Internet with: 

    

    
      	
                
      

            	
               • 

            	
               Vemics
      LiveAccess Solution (capability for up to 90 live, fully interactive
      sites) 

            

    

    
      	
                
      

            	
               • 

            	
               Up
      to 9 real-time, full motion videos (broadcast quality up to 30 frames per
      second) 

            

    

    
      	
                
      

            	
               • 

            	
               Wide-band
      voice-over-internet (VOIP)
audio 

            

    

    
      	
                
      

            	
               • 

            	
               Full
      suite of collaboration tools 

               

            

    

    
      	
                
      

            	
               o 

            	
               Present-a-document 

            

    

    
      	
                
      

            	
               o 

            	
               Tour
      the web 

            

    

    
      	
                
      

            	
               o 

            	
               Videoconference
      mode 

            

    

    
      	
                
      

            	
               o 

            	
               Live
      application share (windows based software or
  Internet) 

            

    

    
      	
                
      

            	
               o 

            	
               Electronic
      whiteboard 

            

    

    
      	
                
      

            	
               o 

            	
               Invite
      IP-based videoconference system
feature 

            

    

    
      	
                
      

            	
               o 

            	
               Use
      of multimedia 

            

    

    

    
      	
                
      

            	
               • 

            	
               Provide
      a cost-effective live, fully interactive online meeting service that
      replicates all the dynamics present in a face-to-face meeting for up to 90
      end points without leaving office, home, hotel room, school,
      etc. 

            

    

    
      	
                
      

            	
               • 

            	
               No
      proprietary equipment or additional bridging services required to buy or
      maintain as with traditional videoconference
  systems 

            

    

    
      	
                
      

            	
               • 

            	
               Adds
      the flexibility of real time face-to-face experience for online sessions
      with integrated high quality video and VOIP audio, converged with a full
      suite of collaboration tools 

            

    

    
      	
                
      

            	
               • 

            	
               One-way
      streaming of the audio/video/content to an unlimited number of sites with
      internet access. Individuals can use any standard broadband connection to
      the internet. 

            

    

    
      	
                
      

            	
               • 

            	
               Plus
      Record and provide web access to view the archived version of the meeting
      or class which can be made available for scheduled or unscheduled amounts
      of time 

            

    

    
      	
                
      

            	
               • 

            	
               Fully
      managed event service that can include live site set-up, email invitations
      with audio/video postcards, presenter training, technical and event
      monitoring, email reminders and help
desk 

            

    

    

    
      
         

      

      
         4

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