Document:

Exhibit 10.1

 

MANAGEMENT AGREEMENT

This MANAGEMENT AGREEMENT (this "Agreement") dated as of this 23rd day of December 2013, by and between ChinAmerica Andy Movie Entertainment Media Co., a Florida corporation ("Client") and AF Ocean Investment Management (Shanghai) Co., LTD, a Shanghai, China, corporation wholly owned by AF Ocean Investment Management Company, a Florida corporation (the "Manager").

W I T N E S S E T H:

WHEREAS, the Client is operating in China and will be receiving payment for such operations in China;

WHEREAS, China employs strict currency regulations that are designed to prevent large amounts of currency moving out of the country, the Client wishes to retain the Manager to manage its money it receives from its Chinese operations; and

NOW, THEREFORE, IT IS AGREED as follows:

1)            Delivery of Funds.

a)            All payments paid to Client for services it has rendered or will render in China shall be delivered to Manager for deposit into an HSBC Checking Account in Shanghai, China, opened by Manager solely for management of Client Funds, account no. (the "HSBC Account") (wire instructions provided in Schedule I).

b)            The Payments deposited into the HSBC Account and the balance remaining after any authorized disbursements are hereafter referred to as the "Funds."

c)            The Manager shall have no duty or responsibility to enforce the collection or demand payment of any Funds deposited into the HSBC Account. If, for any reason, any check deposited into the HSBC Account shall be returned unpaid to the Manager, the duty of the Manager shall be to return the check to the Client promptly thereafter, delivered by certified mail to the addresses below.

2)            Release of Funds.

a)            The Funds shall be paid or released by the Manager pursuant to instructions received in writing from the Client.

b)            The Manager shall, upon receipt of instructions from the Client, disburse the Funds in accordance with the terms of the Instructions. Such instructions must be received by the Manager no later than 2:00 PM Beijing Time on a Banking Day for the Manager to process such instructions that Banking Day.

3)            Acceptance by Manager. The Manager hereby accepts and agrees to perform its obligations hereunder, provided that:

 

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a)            The Manager may act in reliance upon any signature believed by it to be genuine and duly notarized if required by the terms of this agreement, and may assume that any person who has been designated by the Client to give any written instructions, notice or receipt, or make any statements in connection with the provisions hereof has been duly authorized to do so. Manager shall have no duty to make inquiry as to the genuineness, accuracy or validity of any statements or instructions or any signatures on statements or instructions except as limited herein.

b)            The Manager may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith. The Manager shall not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence.

c)            The Client agrees to indemnify and hold the Manager harmless from and against any and all claims, losses, costs, liabilities, damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney's fees) claimed against or incurred by Manager arising out of or related, directly or indirectly, to this Management Agreement unless caused by the Manager's gross negligence or willful misconduct.

d)            In the event that the Manager shall be uncertain as to its duties or rights hereunder, the Manager shall be entitled to (i) refrain from taking any action other than to keep safely the Funds until it shall be directed otherwise by a court of competent jurisdiction, or (ii) deliver the Funds to a court of competent jurisdiction.

e)            The Manager shall have no duty, responsibility or obligation to interpret or enforce the terms of any agreement other than Manager's obligations hereunder, and the Manager shall not be required to make a request that any monies be delivered to the HSBC Account, it being agreed that the sole duties and responsibilities of the Manager shall be to the extent not prohibited by applicable law (i) to accept checks or other instruments for the payment of money and wire transfers delivered to the Manager for the HSBC Account and deposit said checks and wire transfers into the HSBC Account, and (ii) to disburse or refrain from disbursing the Funds as stated above, provided that the checks received by the Manager have been collected and are available for withdrawal.

4)            Manager's Compensation. Manager shall be entitled, for the duties to be performed by it hereunder, to a fee of 10% of each deposit or wire, which fee shall be withdrawn from the HSBC Account and deposited into the Manager's bank account within two (2) business days after receipt of any deposit or wire. In addition, the Client shall be obligated to reimburse Manager for all fees, costs and expenses incurred or that become due in connection with this Agreement or the HSBC Account, including reasonable attorney's fees. Neither the modification, cancellation, termination or rescission of this Agreement nor the resignation or termination of the Manager shall affect the right of Manager to retain the amount of any fee which has been paid, or to be reimbursed or paid any amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation, termination, resignation or rescission. To the extent the Manager has incurred any such expenses, or any such fee becomes due, prior to any closing, the Manager shall advise the Client and the Client shall direct all such amounts to be paid directly at any such closing.

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5)            Resignation and Termination of the Manager. The Manager may resign at any time by giving 30 days' prior written notice of such resignation to the Client. Upon providing such notice, the Manager shall have no further obligation hereunder except to hold as depositary the Funds that it receives until the end of such 30-day period. In such event, the Manager shall not take any action, other than receiving and depositing Client's checks and wire transfers in accordance with this Agreement, until the Client has designated a banking corporation, attorney or other person as successor. Upon receipt of such written designation signed by the Client, the Manager shall promptly deliver the Funds to such successor and shall thereafter have no further obligations hereunder. If such instructions are not received within 30 days following the effective date of such resignation, then the Manager may deposit the Funds held by it pursuant to this Agreement with a Court of competent jurisdiction pending the appointment of a successor. In either case provided for in this paragraph, the Manager shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Funds.

6)            Termination. The Client may terminate the appointment of the Manager hereunder upon written notice specifying the date upon which such termination shall take effect, which date shall be at least 5 days from the date of such notice. In the event of such termination, the Client shall, within 5 days of such notice, appoint a successor Manager and the Manager shall, upon receipt of written instructions signed by the Client, turn over to such successor Manager all of the Funds; provided, however, that if the Client fails to appoint a successor Manager within such 5-day period, such termination notice shall be null and void and the Manager shall continue to be bound by all of the provisions hereof. Upon receipt of the Funds, the successor Manager shall become the Manager hereunder and shall be bound by all of the provisions hereof and the Manager shall be relieved of all further obligations and released from all liability thereafter arising with respect to the Funds and under this Agreement. The Manager shall remain liable for any willful misconduct or gross negligence which occurred prior to the termination per paragraph 4(b) of this Agreement.

7)            Notices. All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized overnight courier service or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

a)          If to Manager, to:

AF Ocean Investment Management (Shanghai) Co., LTD. 6371 Business Blvd, Suite 200

Sarasota, FL 34240

b)          If to Client, to:

ChinAmerica Andy Movie Entertainment Media Co. 6371 Business Blvd, Suite 200

Sarasota, FL 34240

or to such other address as any of them shall give to the others by notice made pursuant to this Section.

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8)          General.

a)            This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Florida applicable to agreements made and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder shall be brought in the courts of the State of Florida, located in the County of Manatee. Each party hereto irrevocably waives any objection on the grounds of venue, inconvenient forum or any similar grounds and irrevocably consents to service of process by mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts. Each of the parties hereto hereby waives all right to trial by jury in any action, proceeding or counterclaim arising out of the transactions contemplated by this Agreement.

b)            This Agreement sets forth the entire agreement and understanding of the parties with respect to the matters contained herein and supersedes all prior agreements, arrangements and understandings relating thereto.

c)            All of the terms and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto, as well as their respective successors and assigns.

d)            This Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a written instrument executed by each party hereto or, in the case of a waiver, by the party waiving compliance. The failure of any party at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same. No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of any such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement. No party may assign any rights, duties or obligations hereunder unless all other parties have given their prior written consent.

e)            If any provision included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining provisions.

f)            This Agreement and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

9)          Form of Signature. The parties hereto agree to accept a facsimile or an email transmission copy of their respective actual signatures as evidence of their actual signatures to this Agreement and any modification or amendment of this Agreement; provided, however, that each party who produces a facsimile or an email signature agrees, by the express terms hereof, to place, promptly after transmission of his or her signature by facsimile or email, a true and correct original copy of his or her signature in overnight mail to the address of the other party.

10)          Confidentiality. Unless specifically directed by Court Order, the Manager agrees to keep the terms of this Escrow Agreement as well as the identity of all parties and the funding amounts completely confidential. Each of the parties to this agreement specifically and knowledge that there is an attorney-client relationship by and between the parties and Harrison Law, PA. Communications by and between the parties and Harrison Law, PA shall be subject to the attorney-client privilege.

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    IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first set forth above.

 

CLIENT

ChinAmerica Andy Movie Entertainment Media Co.

   

By:                  /s/ Andy Z. Fan    

Name:                        Andy Z. Fan

Title:                                  President  

 

MANAGER

 

AF OCEAN INVESTMENT MANAGEMENT (SHANGHAI) CO., LTD.

 

    By:                 /s/ Andy Z. Fan    

Name:                              Andy Z. Fan

Title:                                  President

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Schedule I

Wire Instructions

	
Wire Instructions

	
Beneficiary Name

AF Ocean Investment Management Co.

	
Beneficiary Account #

	
Beneficiary Address Shanghai, China

	 
	
Beneficiary Bank

HSBC Bank (China) Company Limited

	
Bank Wire #

	
Swift #

	
Beneficiary Bank Address

Shanghai Hong Kong Plaza Sub-branch Shanghai, China

	 
	
Additional Instructions RE: CAME

6Exhibit 10.2

 

MANAGEMENT SERVICES AGREEMENT

THIS MANAGEMENT SERVICES AGREEMENT (this "Agreement"), is made and entered as of June 1, 2014, by and among AF OCEAN INVESTMENT MANAGEMENT COMPANY, a Florida corporation having its principal place of business at 6371 Business Blvd., Suite 200, Sarasota, Florida 34240 (the "Service Provider") and CHINAMERICA ANDY MOVIE ENTERTAINMENT MEDIA CO., a Florida corporation having its principal place of business at 6371 Business Blvd., Suite 200, Sarasota, Florida 34240 (the "Company").

WHEREAS, the Company desires to retain the Service Provider to provide certain management services upon the terms and conditions hereinafter set forth, and the Service Provider is willing to undertake such obligations.

NOW, THEREFORE, in consideration of the foregoing and the mutual and dependent covenants hereinafter set forth, the parties agree as follows:

1.            Appointment. The Company hereby engages the Service Provider, and the Service Provider hereby agrees, upon the terms and subject to the conditions set forth herein, to provide, or cause any of its Affiliates to provide, certain services to the Company, as described in Section 3(a) hereof. For purposes of this Agreement, an "Affiliate" of any specified person or entity is a person or entity that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified.

2.            Term. The term of this Agreement (the "Term") shall be for an initial term expiring one year after the date first set forth above. The Term shall be renewed automatically for additional one-year terms thereafter unless the Company shall give notice in writing within sixty (60) days before the expiration of the initial term or any one-year renewal thereof of its desire to terminate this Agreement. Notwithstanding anything in this Agreement to the contrary: (a) the Service Provider may terminate this Agreement and the services provided by it hereunder upon providing the Company with thirty (30) days prior notice of such termination; (b) the provisions of Section 6 shall survive the termination of this Agreement; and (c) no termination of this Agreement, whether pursuant to this Section 2 or otherwise, will affect the Company's duty to pay any fees accrued, or reimburse any cost or expense incurred, pursuant to the terms of this Agreement prior to the effective date of that termination.

3.            Duties of the Service Provider.

(a)            Services. The Service Provider or any of its Affiliates shall provide the Company with such management and accounting related services as the board of directors of the Company (the "Board") may reasonably request from time to time, including, without limitation, preparing periodic and other reports required to be filed under the Securities Exchange Act of 1934, preparing financial reports, bookkeeping, managing the website, handling employee matters, handling payroll matters and related governmental filings, handling advertising matters, handling retail operation matters, handling customer accounts matters and processing payables (collectively, the "Services"). The Company shall use the Services of the Service Provider or any of its Affiliates and the Service Provider shall make itself or any of its Affiliates available for the performance of the Services upon reasonable notice. The Service Provider or any of its Affiliates, as applicable, shall perform the Services at the times and places reasonably requested by the Board to meet the needs and requirements of the Company, taking into account other engagements that the Service Provider and its Affiliates may have.

(b)            Exclusions from Services. Notwithstanding anything in subsection (a) above to the contrary, the following services are specifically excluded from the definition of "Services":

(i)            accounting services rendered to the Company by an independent accounting firm or accountant who is not an employee of the Service Provider; and

(ii)            legal services rendered to the Company by an independent law firm or attorney who is not an employee of the Service Provider.

4.            Compensation and Reimbursement for Services.

(a)            Fees for Management Services. As consideration payable to the Service Provider or any of its Affiliates for providing the Management Services to the Company, the Company shall pay to the Service Provider an annual management fee in respect of each fiscal year of the Company in an amount equal to $76,200 (the "Management Fee"). The Management Fee shall be payable in advance in monthly installments of $6,350 on the first Business Day of each month of each such fiscal year, commencing on June 2, 2014. For purposes of this Agreement, "Business Day" means any day except Saturday, Sunday or any other day on which commercial banks located in New York, New York are authorized or required by applicable law to be closed for business.

(b)            Out-of-Pocket Expenses. In addition to the payments required under Section 4(a) above, the Company shall, at the direction of the Service Provider, pay directly or reimburse the Service Provider for Out-of-Pocket Expenses (as hereinafter defined). For purposes of this Agreement, the term "Out-of-Pocket Expenses" shall mean the amounts incurred by the Service Provider and/or its personnel from products and/or services of unaffiliated third parties delivered to the Company or the Service Provider and/or their respective personnel in connection with the Services including, without limitation: (i) fees and disbursements of auditors, attorneys and other advisors or consultants; (ii) costs of any outside services of independent contractors such as financial printers, couriers, business publications or similar services; and (iii) all other expenses actually incurred by the Service Provider and/or its personnel in rendering the Services. All direct payments and reimbursements for Out-of-Pocket Expenses shall be made promptly upon or as soon as practicable after presentation by the Service Provider to the Company of a statement in reasonable detail in connection therewith.

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5.            Disclaimer; Limitation of Liability.

(a)            Disclaimer. The Service Provider makes no representations or warranties, express or implied, in respect of the Services to be provided by it hereunder.

(b)            Limitation of Liability. Neither the Service Provider nor any of its officers, directors, managers, principals, stockholders, partners, members, employees, agents, representatives and Affiliates (each a "Related Party" and, collectively, the "Related Parties") shall be liable to the Company or any of its Affiliates for any loss, liability, damage or expense arising out of or in connection with the performance of any Services contemplated by this Agreement, unless such loss, liability, damage or expense shall be proven to result directly from the wilful misconduct of such person. In no event will the Service Provider or any of its Related Parties be liable to the Company for special, indirect, punitive or consequential damages, including, without limitation, loss of profits or lost business, even if Service Provider has been advised of the possibility of such damages. Under no circumstances will the liability of Service Provider and Related Parties exceed, in the aggregate, the fees actually paid to Service Provider hereunder.

6.            Indemnification. The Company shall indemnify and hold harmless the Service Provider and each of its Related Parties (each, an "Indemnified Party") from and against any and all losses, claims, actions, damages and liabilities, joint or several, to which such Indemnified Party may become subject under any applicable statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment or decree, made by any third party or otherwise, relating to or arising out of the Services or other matters referred to in or contemplated by this Agreement or the engagement of such Indemnified Party pursuant to, and the performance by such Indemnified Party, of the Services or other matters referred to or contemplated by this Agreement, and the Company will reimburse any Indemnified Party for all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) as they are incurred in connection with the investigation of, preparation for or defense of any pending or threatening claim, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto. The Company will not be liable under the foregoing indemnification provision to the extent that any loss, claim, damage, liability, cost or expense is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the wilful misconduct of such Indemnified Party. The reimbursement and indemnity obligations of the Company, under this Section 6 shall be in addition to any liability which the Company may otherwise have, shall extend upon the same terms and conditions to any Affiliate of the Service Provider and any Related Party or controlling persons (if any), as the case may be, of the Service Provider and any such Affiliate and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Company, the Service Provider, any such Affiliate and any such Related Party or other person. The provisions of this Section 6 shall survive the termination of this Agreement.

7.            Independent Contractor. Nothing herein shall be construed to create a joint venture or partnership between the parties hereto or an employee/employer relationship. The Service Provider shall be an independent contractor pursuant to this Agreement. Neither party hereto shall have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the other party or to bind the other party to any contract, agreement or undertaking with any third party. Nothing in this Agreement shall be deemed or construed to enlarge the fiduciary duties and responsibilities, if any, of the Service Provider or any of its Related Parties, including without limitation in any of their respective capacities as stockholder or directors of the Company.

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8.            Permissible Activities. Nothing herein shall in any way preclude the Service Provider or its Affiliates or their respective Related Parties from engaging in any business activities or from performing services for its or their own account or for the account of others, including, without limitation, companies which may be in competition with the business conducted by the Company and any of its Affiliates.

9.            Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses indicated above (or at such other address for a party as shall be specified in a notice given in accordance with this Section 9).

10.            Entire Agreement. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter.

11.            Successor and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. However, neither this Agreement nor any of the rights of the parties hereunder may otherwise be transferred or assigned by any party hereto, except that: (a) if the Company shall merge or consolidate with or into, or sell or otherwise transfer substantially all its assets to, another company which assumes the Company's obligations under this Agreement, the Company may assign its rights hereunder to that company; and (b) the Service Provider may assign its rights and obligations hereunder to any Affiliate. Any attempted transfer or assignment in violation of this Section 11 shall be void.

12.            No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement.

13.            Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

14.            Amendment and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

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15.            Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

16.            Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Florida.

17.            Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Management Services Agreement on the date first written above.

	 	
CHINAMERICA ANDY MOVIE ENTERTAINMENT MEDIA CO.

 

 

	 	
By: /s/ Andy Z. Fan 

Name:  Andy Z. Fan

Title:  President

	 	
AF OCEAN INVESTMENT MANAGEMENT COMPANY

 

 

	 	
By: /s/ Tina Donnelly

Name:  Tina Donnelly

Title:  Secretary

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