SEC Contract Filing

Filing Date: 2016-10-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.39
<SEQUENCE>11
<FILENAME>exhibit10_39.htm
<DESCRIPTION>EXHIBIT 10.39
<TEXT>
<HTML>
<head><title>Exhibit 10.39</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b><u>EXHIBIT 10.39</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b><u>AMENDED AND RESTATED</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b><u>MANAGEMENT SERVICES AGREEMENT</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>This Amended and Restated Management Services Agreement (this &#147;<b>Agreement</b>&#148;) is entered into as of the 30th day of June, 2016 (the &#147;Effective Date&#148;) by and between INFINITE CONFERENCING, Inc., a Florida corporation (the &#147;<b>Manager</b>&#148;), and INFINITE CONFERENCING PARTNERS, LLC, a Florida limited liability company (&#147;<b>Company</b>&#148;).</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>WHEREAS, the Company and Manager entered into a Management Services Agreement dated February 28, 2015 having as its subject certain Managed Accounts as listed on Schedule 1A hereto. </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>WHEREAS, the Company and Manager entered into an Amended and Restated Management Services Agreement dated December 16, 2015 (the &#147;Previous Effective Date&#148;) having as its subject certain Managed Accounts as listed on Schedule 1B hereto, as well as modification of the calculation of the Management Fee. </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>WHEREAS, the Company and Manager are entering into this Agreement in order to supplement the Managed Accounts as listed on Schedules 1A and 1B hereto by adding the Managed Accounts listed on Schedule 1C hereto.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>WHEREAS, subject to the terms and conditio<a name=SaveServer>ns of this Agreement, the Company desires to retain Manager to provide certain management services to it, and Manager desires to provide such services.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">1.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><strong>Services.</strong></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:50px">Manager agrees that, during the term of this Agreement (the &#147;<b>Term</b>&#148;), it will provide the Management Services to the Company as set forth on <b>Schedule 1</b>.</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">2.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b>Payment of Fees; Segregated Account.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:50px" align=justify>A.&nbsp;&nbsp;&nbsp;&nbsp; In exchange for the services provided to the Company hereunder, as more fully described in <b>Section 1</b> of this Agreement, during the Term, the Company will pay a management fee as set forth on <b>Schedule 2</b>, attached hereto and made a part hereof (the &#147;<b>Management Fee</b>&#148;) in weekly installments.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:0px" align=center>1</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:0px" align=justify> <hr style=PAGE-BREAK-AFTER:always> <p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:50px" align=justify>B.&nbsp;&nbsp;&nbsp;&nbsp; Each of Manager and Company shall cause all cash receipts received from or on behalf of the Managed Accounts (as defined in <b>Schedules 1A, 1B and 1C</b>) and attributable to services during the Term of this Agreement, including, but not limited to, USF and all taxes (&#147;<b>Managed Accounts Revenue</b>&#148;) to be deposited into a segregated Company account (&#147;<b>Segregated Account</b>&#148;) for such purpose, and as set forth on <b>Schedule 3</b> hereto, which account shall be managed by Kaufman and Rossin (or its successor acceptable to both Manager and Company in their reasonable discretion) (the &#147;<b>Accounting Firm</b>&#148;) pursuant to an agreement among the Manager, the Company and such Accounting Firm (such agreement to be acceptable to both Manager and Company in their reasonable discretion). The Management Fee due Manager hereunder shall, by the end of the first business day of each week with respect to then available Managed Accounts Revenue received by the Company during the immediately preceding week after reserving funds for payment of the Company&#146;s Mandatory Distribution (as defined in <b>Schedule 2</b>) for the then current period (as set forth in <b>Schedule 2</b>) and a one-time additional reserve of $1,000.00, be distributed directly from such segregated account by the Accounting Firm in accordance with this Agreement.&nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN-LEFT:0px; MARGIN-TOP:0px; TEXT-INDENT:50px" align=justify>C.&nbsp;&nbsp;&nbsp;&nbsp; Each payment made pursuant to this <b>Section&nbsp;2</b> will be paid by the Company (or the Accounting Firm) by wire transfer of immediately available funds to such account(s) as set forth on <b>Schedule 4</b>