Document:

Time Sharing Agreement

        
            TIME SHARING AGREEMENT

            THIS TIME SHARING AGREEMENT is entered into effective as of the 10th day of July, 2009, by and between DOLAN FAMILY OFFICE, LLC a New York limited liability company with an address at 340 Crossways Drive, Woodbury, New York 11771 (“Lessor”), and CSC HOLDINGS, INC., a Delaware corporation with an address at 1111 Stewart Avenue, Bethpage, New York 11714
            (“Lessee”).

            W I T N E S S E T H:

            WHEREAS, Lessor is a sublessee and an operator of a Gulfstream Aerospace GIV-SP aircraft, manufacturer’s serial number 1313, United States registration N100DF (the “Aircraft”); and

            WHEREAS, Lessor employs or engages a fully-qualified and credentialed flight crew to operate the Aircraft; and

            WHEREAS, Lessor has agreed to lease the Aircraft, with flight crew, to Lessee on a “time sharing” basis as defined in Section 91.501(c)(l) of the Federal Aviation Regulations (“FAR”) upon the terms and subject to the conditions set forth herein;

            NOW, THEREFORE, in consideration of the foregoing premises, and the covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Lessor and Lessee, intending to be legally bound, hereby agree as follows:

            1.     Lease of Aircraft. Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR Section 91.501(b)(6) and Section 91.501(c)(1) and this Agreement, and to provide a fully-qualified and credentialed flight crew for all flights to be conducted hereunder during the Term (as defined in Section 13) hereof. The parties
            acknowledge and agree that this Agreement did not result in any way from any direct or indirect advertising, holding out or soliciting on the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor and Lessee intend that the lease of the Aircraft effected by this Agreement shall be treated as a “wet lease” pursuant to which Lessor provides transportation services to Lessee in accordance with FAR Section 91.501(b)(6) and Section 91.501(c)(1).

            2.     Payment for Use of Aircraft. Lessee shall pay Lessor the following actual expenses of each flight conducted under this Agreement, not to exceed the maximum amount legally payable for such flight under FAR Section 91.501(d)(1)-(10):

            

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(a) 

                    	
fuel, oil, lubricants and other additives; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(b) 

                    	
travel expenses of crew, including food, lodging and ground transportation; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(c) 

                    	
hangar and tie-down costs away from the Aircraft’s base of operation; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(d) 

                    	
additional insurance obtained for the specific flight at the request of Lessee; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(e) 

                    	
landing fees, airport taxes and similar assessments; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(f) 

                    	
customs, foreign permit and similar fees directly related to the flight; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(g) 

                    	
in-flight food and beverages; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(h) 

                    	
passenger ground transportation; 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(i) 

                    	
flight planning and weather contract services; and 

                    
	
  

                    	
  

                    	
  

                    
	
  

                    	
(i) 

                    	
an additional charge equal to 100% of the expenses listed in Section 2(a). 

                    

            

            3.     Operational Control of Aircraft. Lessor and Lessee intend and agree that on all flights conducted under this Agreement, Lessor shall have complete and exclusive operational control over the Aircraft, its flight crews and maintenance, and complete and exclusive possession, command and control of the Aircraft. Lessor shall have
            complete and exclusive responsibility for scheduling, dispatching and flight following of the Aircraft on all flights conducted under this Agreement, which responsibility includes the sole and exclusive right over initiating, conducting and terminating such flights. Lessee shall have no responsibility for scheduling, dispatching or flight following on any flight conducted under this Agreement, nor any right over initiating, conducting or terminating any such flight. Nothing in this
            Agreement is intended or shall be construed so as to convey to Lessee any operational control over, or possession, command and control of, the Aircraft, all of which are expressly retained by Lessor.

            4.      Scheduling.

            (a)     Lessee will provide Lessor with requests for flight time and proposed flight schedules as far in advance of any given flight as possible. The designated authorized representative(s) of Lessee shall submit scheduling requests under this Agreement to the designated authorized representative(s) of Lessor. Requests for flight time shall be
            in such form (whether oral or written) mutually convenient to, and agreed upon by, the parties. In addition to proposed schedules and flight times, Lessee shall upon request provide Lessor with the following information for each proposed flight prior to scheduled departure: (i) proposed departure point;

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            (ii) destination; (iii) date and time of flight; (iv) the number of anticipated passengers; (v) the nature and extent of luggage to be carried; (vi) the date and time of a return flight, if any; and (vii) any other pertinent information concerning the proposed flight that Lessor or the flight crew may request.

            (b)     Subject to Aircraft and crew availability, Lessor shall use its good faith efforts, consistent with Lessor’s approved policies, in order to accommodate the needs of Lessee, to avoid conflicts in scheduling, and to enable Lessee to enjoy the benefits of this Agreement; however, Lessee acknowledges and agrees that notwithstanding
            anything in this Agreement to the contrary, (i) Lessor shall have sole and exclusive final authority over the scheduling of the Aircraft; and (ii) the needs of Lessor for the Aircraft shall take precedence over Lessee’s rights and Lessor’s obligations under this Agreement.

            (c)     Although every good faith effort shall be made to avoid its occurrence, any flight scheduled under this Agreement is subject to cancellation by either party without incurring liability to the other party. In the event that cancellation is necessary, the canceling party shall provide the maximum notice practicable.

            5.     Billing. Lessor shall pay all expenses relating to the operation of the Aircraft under this Agreement on a monthly basis. As soon as possible after the end of each monthly period during the Term, Lessor shall provide to Lessee an invoice showing all use of the Aircraft by Lessee under this Agreement during that month and a complete
            accounting detailing all amounts payable by Lessee pursuant to Section 2 for that month, including such detail supporting all expenses paid or incurred by Lessor for which reimbursement is sought as Lessee may reasonably request. Lessee shall pay all amounts due to Lessor under this Section 5 not later than 30 days after receipt of the invoice therefore.

            6.     Maintenance of Aircraft. Lessor shall be solely responsible for securing maintenance, preventive maintenance and inspections of the Aircraft (utilizing an inspection program listed in FAR Section 91.409(f)), and shall take such requirements into account in scheduling the Aircraft hereunder.

            7.     Flight Crew.

            (a)     Lessor shall employ or engage and pay all salaries, benefits and and/or compensation for a fully-qualified flight crew with appropriate credentials to conduct each flight undertaken under this Agreement. Lessor may use temporary flight crewmembers for a flight under this Agreement only if any such temporary crewmember is FlightSafety (or
            SimuFlite) trained, is current on the Aircraft and satisfies all of the requirements and conditions under the insurance coverage for the Aircraft. All flight crewmembers shall be included on any insurance policies that Lessor is required to maintain hereunder.

            (b)     The qualified flight crew provided by Lessor shall exercise all of its duties and responsibilities with regard to the safety of each flight conducted hereunder in accordance with applicable FAR’s. The Aircraft shall be operated under the standards and policies established by Lessor. Final authority to initiate or terminate each
            flight, and otherwise to decide

            

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            all matters relating to the safety of any given flight or requested flight, shall rest with the pilot-incommand of that flight. The flight crew may, in its sole discretion, terminate any flight, refuse to commence any flight, or take any other action that, in the judgment of the pilot-in-command, is necessitated by considerations of safety. No such termination or refusal
            to commence by the pilot-in-command shall create or support any liability for loss, injury, damage or delay in favor of Lessee or any other person. Lessor shall not be liable to Lessee or any other person for loss, injury or damage occasioned by the delay or failure to furnish the Aircraft and flight crew pursuant to this Agreement for any reason.

            8.     Insurance.

            (a)     At all times during the Term of this Agreement, Lessor shall maintain at its sole cost and expense (i) comprehensive aircraft liability insurance against bodily injury and property damage claims, including, without limitation, contractual liability, premises liability, personal injury liability, passenger legal liability coverage, in an
            amount not less than $200,000,000 for each occurrence, and (ii) hull insurance for the full replacement cost of the aircraft.

            (b)     Any policies of hull and liability insurance carried in accordance with this Section 8 and any policies taken out in substitution or replacement of any such policies (i) shall name Lessee and its affiliates and their respective officers, directors, members, managers, employees, agents, licensees, servants and guests as additional
            insured; (ii) shall provide for 30 days written notice to Lessee by such insurer of cancellation, change, non-renewal or reduction (seven days in the case of war risk and allied perils coverage or such shorter period as is customarily available in the industry); and (iii) shall permit the use of the Aircraft by Lessor for compensation or hire to the extent permitted under applicable law. Each such policy shall be primary insurance, not subject to any co-insurance clause and shall be
            without right of contribution from any other insurance.

            (c)     Lessor shall use reasonable commercial efforts to provide such additional insurance coverage for specific flights under this Agreement, if any, as Lessee may request in writing. Lessee also acknowledges that any trips scheduled to the European Union may require Lessor to purchase additional insurance to comply with local regulations. The
            cost of all additional flight-specific insurance shall be borne by Lessee as set forth in Section 2(d) hereof.

            (d)     Each party agrees that it will not do any act or voluntarily suffer or permit any act to be done whereby any insurance required hereunder shall or may be suspended, impaired or defeated. In no event shall Lessor suffer or permit the Aircraft to be used or operated under this Agreement without such insurance being fully in effect.

            (e)     Lessor shall ensure that worker’s compensation insurance with all-states coverage is provided for the Aircraft’s crew and maintenance personnel.

            (f)     Lessor shall deliver certificates of insurance to Lessee with respect to the insurance required or permitted to be provided by it hereunder not later than the first flight of the Aircraft under this Agreement and upon the renewal date of each policy.

            

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            9.     Taxes. Lessee shall be responsible for paying, and Lessor shall be responsible for collecting from Lessee and paying over to the appropriate authorities, all applicable Federal transportation taxes and sales, use or other excise taxes imposed by any governmental authority in connection with any use of the Aircraft by Lessee
            hereunder. Each party shall indemnify the other party against any and all claims, liabilities, costs and expenses (including attorney’s fees as and when incurred) arising out of its breach of this undertaking.

            10.     Lessee’s Representations and Warranties. Lessee represents and warrants that:

            (a)     It will not use the Aircraft for the purposes of providing transportation of passengers or cargo in air commerce for compensation or hire or for common carriage.

            (b)     It shall refrain from incurring any mechanic’s or other liens in connection with inspection, preventive maintenance, maintenance or storage of the Aircraft, and shall not attempt to convey, mortgage, assign, lease or in any way alienate the Aircraft or create any kind of lien or security interest involving the Aircraft or do
            anything or take any action that might mature into such a lien.

            (c)     It shall not lien or otherwise encumber or create or place any lien or other encumbrance of any kind whatsoever, on or against the Aircraft for any reason. It also will ensure that no liens or encumbrances of any kind whatsoever are created or placed against the Aircraft for claims against Lessee or by Lessee.

            (d)     It will abide by and conform to all laws, governmental and airport orders, rules and regulations, as shall be imposed upon the lessee of an aircraft under a time sharing agreement and applicable company policies of Lessor.

            11.     Lessor’s Representations and Warranties. Lessor represents and warrants that it will abide by and conform to all such laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft pursuant to this Agreement.

            12.     Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, LESSOR HAS MADE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT, INCLUDING ANY WITH RESPECT TO ITS CONDITION, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER
            PARTY OR TO ANY OTHER PERSON FOR ANY INCIDENTIAL, CONSEQUENTIAL OR SPECIAL DAMAGES, HOWEVER ARISING.

            

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            13.     Term. The term of this Agreement (the “Term”) shall commence on the effective date hereof and, unless terminated in accordance with the provisions hereof, shall remain in full force in effect for an initial term of one year and thereafter shall automatically renew for successive one-year terms. Notwithstanding the
            foregoing, either party shall have the right to terminate this Agreement for any reason or no reason by written notice given to the other party not less than 30 days prior to the proposed termination date.

            14.     Limitation of Liability. Lessee, for itself and on behalf of its agents, guests, invitees, licensees, servants and employees, covenants and agrees that the insurance described in Section 8 hereof shall be the sole recourse for any and all liabilities, claims, demands, suits, causes of action, losses, penalties, fines, expenses or
            damages, including reasonable attorneys fees, court costs and witness fees attributable to the use, operation or maintenance of the Aircraft pursuant to this Agreement or performance of or failure to perform any obligation under this Agreement.

            15.     Relationship of Parties. Lessor is strictly an independent contractor lessor/provider of transportation services with respect to Lessee. Nothing in this Agreement is intended, nor shall it be construed so as, to constitute the parties as partners or joint venturers or principal and agent. All persons furnished by Lessor for the
            performance of the operations and activities contemplated by this Agreement shall at all times and for all purposes be considered Lessor’s employees or agents.

            16.     Governing Law; Severability. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York, without regard to its choice of law rules. If any provision of this Agreement conflicts with any statute or rule of law of the State of New York, or is otherwise unenforceable, such provision shall
            be deemed null and void only the extent of such conflict or unenforceability, and shall be deemed separate from, and shall not invalidate, any other provision of this Agreement.

            17.     Amendment. This Agreement may not be amended, supplemented, modified or terminated, or any of its terms varied, except by an agreement in writing signed by each of the parties hereto.

            18.     Counterparts. This Time Sharing Agreement may be executed in counterparts, each of which shall, for all purposes, be deemed an original and all such counterparts, taken together, shall constitute one and the same agreement, even though all parties may not have executed the same counterpart. Each party may transmit its signature by
            Portable Document Format (“PDF”) or confirmed facsimile, and such signature shall have the same force and effect as an original signature.

            19.     Successors and Assigns. This Time Sharing Agreement shall be binding upon the parties hereto, and their respective heirs, executors, administrators, other legal representatives, successors and assigns, and shall inure to the benefit of the parties hereto, and, except as otherwise provided herein, to their respective heirs,
            executors, administrators, other legal representatives, successors and permitted assigns. Lessee agrees that it shall not sublease, assign, transfer, pledge or hypothecate this Agreement or any part hereof (including any

            

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            assignment or transfer pursuant to or as a part of any merger, consolidation or transfer of assets) without the prior written consent of Lessor, which may be given or withheld by Lessor in its sole and absolute discretion.

            20.     Notices. All notices or other communications delivered or given under this Agreement shall be in writing and shall be deemed to have been duly given if hand-delivered, sent by certified or registered mail, return receipt requested, nationally-utilized overnight delivery service, PDF or confirmed facsimile transmission, as the case
            may be. Such notices shall be addressed to the parties at the addresses set forth above, or to such other address as may be designated by any party in a writing delivered to the other in the manner set forth in this Section 20. In the case of notices to Lessee, a copy of each such notice shall be sent to Cablevision Systems Corporation, 1111 Stewart Avenue, Bethpage, New York 11714, attention: General Counsel, fax: (516) 803-2575. Notices sent by certified or registered mail shall
            be deemed received three business days after being mailed. All other notices shall be deemed received on the date delivered. Routine communications may be made by e-mail or fax to the addresses set forth therein.

            21.     Truth-in-Leasing Compliance. Lessor, on behalf of the Lessee, shall (i) mail a copy of this Agreement to the Aircraft Registration Branch, Technical Section, of the FAA in Oklahoma City within 24 hours of its execution; (ii) notify the Farmingdale Flight Standards District Office at least 48 hours prior to the first flight of the
            Aircraft under this Agreement of the registration number of the Aircraft, and the location of the airport of departure and departure time of the first flight; and (iii) carry a copy of this Agreement onboard the Aircraft at all times when the Aircraft is being operated under this Agreement.

            22.     TRUTH IN LEASING STATEMENT UNDER FAR SECTION 91.23:

            (A)     LESSOR HEREBY CERTIFIES THAT THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12-MONTH PERIOD PRECEDING THE DATE OF EXECUTION OF THIS AGREEMENT. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN COMPLIANCE WITH THE MAINTENANCE AND INSPECTION REQUIREMENTS OF FAR PART 91 FOR ALL OPERATIONS TO BE CONDUCTED UNDER
            THIS AGREEMENT.

            (B)     DOLAN FAMILY OFFICE, LLC, WITH AN ADDRESS AT 340 CROSSWAYS DRIVE, WOODBURY, NEW YORK 11771, HEREBY CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT FOR ALL OPERATIONS UNDER THIS AGREEMENT.

            (C)     EACH PARTY HEREBY CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

            (D)     THE PARTIES UNDERSTAND THAT AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL AND THE PERTINENT FEDERAL

            

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            AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE.

            (signature page follows)

            

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            IN WITNESS WHEREOF, Lessor and Lessee have executed this Time Sharing Agreement this 10th day of July, 2009, effective as of the date first above written.

            	
  

                    	
LESSOR 

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
DOLAN FAMILY OFFICE, LLC 

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
By: 

                    	
/s/ William A. Frewin 

                    
	
  

                    	
  

                    	
Name: 

                    	
William A. Frewin 

                    
	
  

                    	
  

                    	
Title: 

                    	
President 

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
LESSEE: 

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
CSC HOLDINGS, INC. 

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
  

                    	
  

                    	
  

                    
	
  

                    	
By: 

                    	
/s/ Thomas M. Rutledge 

                    
	
  

                    	
  

                    	
Name: 

                    	
Thomas M. Rutledge 

                    
	
  

                    	
  

                    	
Title: 

                    	
Chief Operating Officer 

                    

            

            9EX-10.5

Exhibit 10.5

EXECUTIVE EMPLOYMENT AGREEMENT

     This EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
                                           , 2009 by and between SearchMedia International Limited, a company incorporated and
existing under the laws of the Cayman Islands (the “Company”), and [Mr.][Ms.]                                            , an individual (the “Executive”). The term “Company” as used herein with respect to all
obligations of the Executive hereunder shall be deemed to include the Company and all of its direct
or indirect parent companies, subsidiaries, affiliates, or subsidiaries or affiliates of its parent
companies (collectively, the “Group”).

RECITALS

	A.	 	The Company desires to employ the Executive and to assure itself of the services of the
Executive during the term of Employment (as defined below).
	 
	B.	 	The Executive desires to be employed by the Company during the term of Employment and under the
terms and conditions of this Agreement.

AGREEMENT

	 	 	The parties hereto agree as follows:
	 
	1.	 	POSITION
	 
	 	 	The Executive hereby accepts a position of                                  (the “Employment”) of the
Company.
	 
	2.	 	TERM
	 
	 	 	Subject to the terms and conditions of this Agreement, the initial term of the Employment
shall be four years, commencing on                            , 200           (the “Effective Date”), until
                                , 200          , unless terminated earlier pursuant to the terms of this Agreement. Upon
expiration of the initial four-year term, the Employment shall be automatically extended for
successive one-year term unless either party gives the other party hereto a two-month prior
written notice to terminate the Employment prior to the expiration of such one-year term or
unless terminated earlier pursuant to the terms of this Agreement.
	 
	3.	 	DUTIES AND RESPONSIBILITIES
	 
	 	 	The Executive’s duties at the Company will include all jobs assigned by the Board of
Directors of the Company (the “Board”) and the Company’s Chief Executive Officer.
	 
	 	 	The Executive shall devote all of [his][her] working time, attention and skills to the
performance of [his][her] duties at the Company and shall faithfully and diligently serve
the Company in accordance with this Agreement and the guidelines, policies and procedures of
the Company approved from time to time by the Board.

 

 

	 	 	The Executive shall use [his][her] best efforts to perform [his][her] duties hereunder. The
Executive shall not, without the prior written consent of the Board, become an employee or
consultant of any entity other than the Company and/or any member of the Group, and shall
not carry on or be interested in the business or entity that competes with that carried on
by the Group (any such business or entity, a “Competitor”), provided that nothing in
this clause shall preclude the Executive from holding any shares or other securities of any
Competitor that is listed on any securities exchange or recognized securities market
anywhere. The Executive shall notify the Company in writing of
[his][her] interest in such shares or securities in a timely manner and with such details and particulars as the Company
may reasonably require.
	 
	4.	 	NO BREACH OF CONTRACT
	 
	 	 	The Executive hereby represents to the Company that: (i) the execution and delivery of this
Agreement by the Executive and the performance by the Executive of the Executive’s duties
hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other
agreement or policy to which the Executive is a party or otherwise bound, except for
agreements that are required to be entered into by and between the Executive and any member
of the Group pursuant to applicable law of the jurisdiction where the Executive is based, if
any; (ii) that the Executive has no information (including, without limitation, confidential
information and trade secrets) relating to any other person or entity which would prevent,
or be violated by, the Executive entering into this Agreement or carrying out [his][her]
duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret
or similar agreement (other than this) with any other person or entity except for other
member(s) of the Group, as the case may be.
	 
	5.	 	LOCATION
	 
	 	 	The Executive will be based in Shanghai, until both parties hereto agree to change
otherwise.
	 
	6.	 	COMPENSATION AND BENEFITS

	 	(a)	 	Cash Compensation. The Executive’s cash compensation shall be provided
by the Company pursuant to Schedule A hereto, subject to annual review and
adjustment by the Board. The Company and the Executive hereby agree that any of the
Company’s subsidiaries’ or affiliated entities’ payment of the cash compensation
payable for the applicable time period under its labor contract with the Executive
shall constitute payment of part of the above cash compensation. The Executive’s
entitlement to the aggregate cash compensation payable by the Company and any of the
Company’s subsidiaries or affiliated entities shall not exceed the amount set out in
Schedule A hereto.
	 
	 	(b)	 	Equity Incentives. To the extent the Company adopts and maintains a
share incentive plan, the Executive will be eligible to participate in such plan
pursuant to the terms thereof as determined by the Company.
	 
	 	(c)	 	Benefits. The Executive is eligible for participation in any standard
employee benefit plan of the Company, including any health insurance plan and annual
holiday plan.

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	7.	 	TERMINATION OF THE AGREEMENT

	 	(a)	 	By the Company. The Company may terminate the Employment for cause, at
any time, without advance notice or remuneration, if (1) the Executive is convicted or
pleads guilty to a felony or to an act of fraud, misappropriation or embezzlement, (2)
the Executive has
been negligent or acted dishonestly to the detriment of the Company, (3) the
Executive has engaged in actions amounting to misconduct or failed to perform
[his][her] duties hereunder and such failure continues after the Executive is
afforded a reasonable opportunity to cure such failure, (4) the Executive has died,
or (5) the Executive has a disability which shall mean a physical or mental
impairment which, as reasonably determined by the Board, renders the Executive
unable to perform the essential functions of [his][her] employment with the Company,
even with reasonable accommodation that does not impose an undue hardship on the
Company, for more than 180 days in any 12-month period, unless a longer period is
required by applicable law, in which case that longer period would apply. In
addition, the Company may terminate the Employment without cause, at any time, upon
one-month prior written notice to the Executive during the first year after the
Effective Date, or two-month prior written notice to the Executive during any period
after the first anniversary of the Effective Date.
	 
	 	(b)	 	By the Executive. If there is a material and substantial reduction in
the Executive’s existing authority and responsibilities and such resignation is
approved by the Board, the Executive may resign upon one-month prior written notice to
the Company during the first year after the Effective Date, or two-month prior written
notice to the Company during any period after the first anniversary of the Effective
Date.
	 
	 	(c)	 	Notice of Termination. Any termination of the Executive’s employment
under this Agreement shall be communicated by written notice of termination from the
terminating party to the other party. The notice of termination shall indicate the
specific provision(s) of this Agreement relied upon in effecting the termination.
	 
	 	(d)	 	Remuneration upon Termination. Upon the Company’s termination of the
Employment without cause pursuant to subsection (a) above or the Executive’s
resignation upon the Board’s approval pursuant to subsection (b) above, the Company
will provide remuneration to the Executive as follows: (1) if such termination or
resignation becomes effective during the first year after joining the Company (the
“Starting Date”), the Company will provide the Executive with a severance pay
equal to one month base salary of the Executive; (2) if such termination or resignation
becomes effective during the second year after the Starting Date, the Company will
provide the Executive with a severance pay equal to two month base salary of the
Executive; (3) if such termination or resignation becomes effective during any period
after the second anniversary of the Starting Date, the Company will provide the
Executive with a severance pay equal to three month base salary of the Executive; and
(4) the Executive may exercise any vested option as of the date of termination pursuant
to the applicable share incentive plan. Except for the foregoing, the Executive shall
not be entitled to any severance payments or benefits upon the termination of the
Employment for any reason, unless otherwise agreed to by the Company.

	8.	 	CONFIDENTIALITY AND NONDISCLOSURE

	 	(a)	 	Confidentiality and Non-disclosure. In the course of the Executive’s
services, the Executive may have access to the Company and/or the Company’s client’s
and/or prospective client’s trade secrets and confidential information, including but
not limited to those embodied in memoranda, manuals, letters or other documents,
computer disks, tapes or other information storage devices, hardware, or other media or
vehicles, pertaining to the Company and/or the Company’s client’s and/or prospective
client’s business. All such trade secrets and confidential information are considered
confidential.
All materials containing any such trade secret and confidential information are the
property of the Company and/or the Company’s client and/or prospective client, and
shall be returned to the Company and/or the Company’s client and/or prospective
client upon expiration or earlier termination of this Agreement. The Executive
shall not directly or indirectly disclose or use any such trade secret or
confidential information, except as required in the performance of the Executive’s
duties in connection with the Employment, or pursuant to applicable law.

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	 	(b)	 	Trade Secrets. During and after the Employment, the Executive shall
hold the Trade Secrets in strict confidence; the Executive shall not disclose these
Trade Secrets to anyone except other employees of the Company who have a need to know
the Trade Secrets in connection with the Company’s business. The Executive shall not
use the Trade Secrets other than for the benefits of the Company.
	 
	 	 	 	“Trade Secrets” means information deemed confidential by the Company,
treated by the Company or which the Executive know or ought reasonably to have known
to be confidential, and trade secrets, including without limitation designs,
processes, pricing policies, methods, inventions, conceptions, technology, technical
data, financial information, corporate structure and know-how, relating to the
business and affairs of the Company and its subsidiaries, affiliates and business
associates, whether embodied in memoranda, manuals, letters or other documents,
computer disks, tapes or other information storage devices, hardware, or other media
or vehicles. Trade Secrets do not include information generally known or released
to public domain through no fault of the Executive.
	 
	 	(c)	 	Former Employer Information. The Executive agrees that [he][she] has
not and will not, during the term of [his][her] employment improperly use or disclose
any proprietary information or trade secrets of any former employer, unless the former
employer has been acquired by the Company, or other person or entity with which the
Executive has an agreement to keep in confidence information acquired by Executive, if
any. The Executive will indemnify the Company and hold it harmless from and against
all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and
costs of suit, arising out of or in connection with any violation of the foregoing.
	 
	 	(d)	 	Third Party Information. The Executive recognizes that the Company may
have received, and in the future may receive, from third parties their confidential or
proprietary information subject to a duty on the Company’s part to maintain the
confidentiality of such information and to use it only for certain limited purposes.
The Executive agrees that the Executive owes the Company and such third parties, during
the Executive’s employment by the Company and thereafter, a duty to hold all such
confidential or proprietary information in the strictest confidence and not to disclose
it to any person or firm and to use it in a manner consistent with, and for the limited
purposes permitted by, the Company’s agreement with such third party.

	 	 	This Section 8 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 8, the Company shall have right to seek any and
all remedies at law or in equity.

4

 

	9.	 	INVENTIONS

	 	(a)	 	Inventions Retained and Licensed. The Executive has attached hereto,
as Schedule B, a list describing all inventions, ideas, improvements, designs
and discoveries, whether or not patentable and whether or not reduced to practice,
original works of authorship and trade secrets made or conceived by or belonging to the
Executive (whether made solely by the Executive or jointly with others) that (i) were
developed by Executive prior to the Executive’s employment by the Company
(collectively, “Prior Inventions”), (ii) relate to the Company’ actual or
proposed business, products or research and development, and (iii) are not assigned to
the Company hereunder; or, if no such list is attached, the Executive represents that
there are no such Prior Inventions. Except to the extent set forth in Schedule
B, the Executive hereby acknowledges that, if in the course of [his][her] service
for the Company, the Executive incorporates into a Company product, process or machine
a Prior Invention owned by the Executive or in which [he][she] has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable,
perpetual, worldwide right and license (which may be freely transferred by the Company
to any other person or entity) to make, have made, modify, use, sell, sublicense and
otherwise distribute such Prior Invention as part of or in connection with such
product, process or machine.
	 
	 	(b)	 	Disclosure and Assignment of Inventions. The Executive understands
that the Company engages in research and development and other activities in connection
with its business and that, as an essential part of the Employment, the Executive is
expected to make new contributions to and create inventions of value for the Company.
	 
	 	 	 	From and after the Effective Date, the Executive shall disclose in confidence to the
Company all inventions, improvements, designs, original works of authorship,
formulas, processes, compositions of matter, computer software programs, databases,
mask works and trade secrets (collectively, the “Inventions”), which the
Executive may solely or jointly conceive or develop or reduce to practice, or cause
to be conceived or developed or reduced to practice, during the period of the
Executive’s Employment at the Company. The Executive acknowledges that
copyrightable works prepared by the Executive within the scope of and during the
period of the Executive’s Employment with the Company are “works for hire” and that
the Company will be considered the author thereof. The Executive agrees that all
the Inventions shall be the sole and exclusive property of the Company and the
Executive hereby assign all [his][her] right, title and interest in and to any and
all of the Inventions to the Company or its successor in interest without further
consideration.
	 
	 	(c)	 	Patent and Copyright Registration. The Executive agrees to assist the
Company in every proper way to obtain for the Company and enforce patents, copyrights,
mask work rights, trade secret rights, and other legal protection for the Inventions.
The Executive will execute any documents that the Company may reasonably request for
use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets
and other legal protections. The Executive’s obligations under this paragraph will
continue beyond the termination of the Employment with the Company, provided that the
Company will reasonably compensate the Executive after such termination for time or
expenses actually spent by the Executive at the Company’s request on such assistance.
The Executive appoints the person designated by the Company as the Executive’s
attorney-in-fact to execute documents on the Executive’s behalf for this purpose.

5

 

	 	(d)	 	Return of Confidential Materials. In the event of the Executive’s
termination of employment with the Company for any reason whatsoever, Executive agrees
promptly to surrender and deliver to the Company all records, materials, equipment,
drawings, documents and data of any nature pertaining to any confidential information
or to [his][her] employment, and Executive will not retain or take with [him][her] any
tangible materials or electronically stored data, containing or pertaining to any
confidential information that Executive may produce, acquire or obtain access to during
the course of [his][her] employment.

	 	 	This Section 9 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 9, the Company shall have right to seek any and
all remedies at law or in equity.
	 
	10.	 	NON-COMPETITION AND NON-SOLICITATION
	 
	 	 	In consideration of the base salary provided to the Executive by the Company hereunder, the
adequacy of which is hereby acknowledged by the parties hereto, the Executive agrees that
during the term of the Employment and for a period of one year following the termination of
the Employment for whatever reason:

	 	(a)	 	The Executive will not approach clients, customers or contacts of the Company
or other persons or entities introduced to the Executive in the Executive’s capacity as
a representative of the Company for the purposes of doing business with such persons or
entities which will harm the business relationship between the Company and such persons
and/or entities;
	 
	 	(b)	 	unless expressly consented to by the Company, the Executive will not assume
employment with or provide services for any Competitor, or engage, whether as
principal, partner, licensor or otherwise, in any Competitor; and
	 
	 	(c)	 	unless expressly consented to by the Company, the Executive will not seek
directly or indirectly, by the offer of alternative employment or other inducement
whatsoever, to solicit the services of any employee of the Company employed as at or
after the date of such termination, or in the year preceding such termination.

	 	 	The provisions contained in this Section 10 are considered reasonable by the Executive and
the Company. In the event that any such provisions should be found to be void under
applicable laws but would be valid if some part thereof was deleted or the period or area of
application reduced, such provisions shall apply with such modification as may be necessary
to make them valid and effective.
	 
	 	 	This Section 10 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 10, the Executive acknowledges that there will be
no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a
decree for specific performance, and such other relief as may be proper (including monetary
damages if appropriate). In any event, the Company shall have right to seek any and all
remedies permissible at law or in equity.
	 
	11.	 	ASSIGNMENT
	 
	 	 	This Agreement is personal in its nature and neither of the parties hereto shall, without
the consent of the other, assign or transfer this Agreement or any rights or obligations
hereunder;
provided, however, that (i) the Company may assign or transfer this Agreement or any rights
or obligations hereunder to any member of the Group without such consent, and (ii) in the
event of a change-of-control transaction of the Company, this Agreement shall, subject to
the provisions hereof, be binding upon and inure to the benefit of such successor and such
successor shall discharge and perform all the promises, covenants, duties, and obligations
of the Company hereunder.

6

 

	12.	 	SEVERABILITY
	 
	 	 	If any provision of this Agreement or the application thereof is held invalid, the
invalidity shall not affect other provisions or applications of this Agreement which can be
given effect without the invalid provisions or applications and to this end the provisions
of this Agreement are declared to be severable.
	 
	13.	 	GOVERNING LAW
	 
	 	 	This Agreement shall be governed by and construed in accordance with the law of the State of
New York, U.S.A.
	 
	14.	 	AMENDMENT
	 
	 	 	This Agreement may not be amended, modified or changed (in whole or in part), except by a
formal, definitive written agreement expressly referring to this Agreement, which agreement
is executed by both of the parties hereto.
	 
	15.	 	WAIVER
	 
	 	 	Neither the failure nor any delay on the part of a party to exercise any right, remedy,
power or privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any right, remedy, power or privilege, nor shall any
waiver of any right, remedy, power or privilege with respect to any occurrence be construed
as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to
have granted such waiver.
	 
	16.	 	NOTICES
	 
	 	 	All notices, requests, demands and other communications required or permitted under this
Agreement shall be in writing and shall be deemed to have been duly given and made if (i)
delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a
recognized courier with next-day or second-day delivery to the last known address of the
other party.
	 
	17.	 	COUNTERPARTS
	 
	 	 	This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original as against any party whose signature appears thereon, and all of which together
shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of
all of the parties reflected hereon as the signatories. Photographic copies of such signed
counterparts may be used in lieu of the originals for any purpose.

7

 

	18.	 	NO INTERPRETATION AGAINST DRAFTER
	 
	 	 	Each party recognizes that this Agreement is a legally binding contract and acknowledges
that such party has had the opportunity to consult with legal counsel of choice. In any
construction of the terms of this Agreement, the same shall not be construed against either
party on the basis of that party being the drafter of such terms.
	 
	19.	 	LANGUAGE
	 
	 	 	This Agreement is prepared and executed in English.

[Remainder of this page has been intentionally left blank.]

8

 

IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

	 	 	 	 	 
	 	SEARCHMEDIA INTERNATIONAL LIMITED

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	 	 

9

 

	 	 	 	 	 

Schedule A

Cash Compensation

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	Amount	 	 	Pay Period	 
	 	Base Salary

	 	 	RMB [•] annually
(including all statutory
welfare reserves that the
Company is required to set
aside for the Executive
under applicable law and
all consideration for the
Executive’s obligations
under Section 10: “Non-Competition
and
Non-Solicitation” of the
Executive Employment
Agreement)

	 	 	Payable in 12 equal monthly

installments for each

calendar year	 
	 	Cash Bonus

	 	 	Discretionary.
	 	 	Once per year, if applicable	 
	 

10

 

Schedule B

List of Prior Inventions

	 	 	 	 	 
	 	 	 	 	Identifying Number
	Title	 	Date	 	or Brief Description
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 

           No inventions or improvements

          Additional Sheets Attached

Signature of Executive:                               

Print Name of Executive:                               

Date:                               

11

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