SEC Contract Filing

Filing Date: 2015-07-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex102_servicingagreementxb.htm
<DESCRIPTION>SERVICING AGREEMENT
<TEXT>
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<a name="s7AAAB5DF4FC49736FF2F69C10010F2EF"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.2</font></div></div><br><div style="line-height:232%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">SERVICING AGREEMENT</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">THIS Servicing Agreement </font><font style="font-family:inherit;font-size:14pt;">is made and entered into by and among Remark Media. Inc. (&#8220;Remark&#8221;), on the one hand, and Bombo Sports &amp; Entertainment, LLC (&#8220;bombo&#8221;), on the other hand. Remark and bombo are referred to collectively as the &#8220;Parties&#8221; and singularly as a &#8220;Party.&#8221;</font></div><div style="line-height:232%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">RECITALS</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:14pt;">&#32;the Parties wish to enter into an agreement effective as of the last date of the signatures by the Parties below (the &#8220;Effective Date&#8221;) pursuant to which each Party agrees to provide certain services to the other in accordance with the terms set forth below;</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">NOW, THEREFORE,</font><font style="font-family:inherit;font-size:14pt;">&#32;in consideration of the mutual promises and covenants contained herein, the Parties enter into this Servicing Agreement on the terms set forth below. </font></div><div style="line-height:232%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">TERMS OF AGREEMENT</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:12pt;">1.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:14pt;">For a period of two years from the Effective Date of this Servicing Agreement, bombo will loan to Remark the services of Robert S. Potter (&#8220;Potter&#8221;), for up to 100 hours each year. The services will not include the production of films. bombo will not present itself to any third party as Remark&#8217;s agent or representative, unless requested to do so, in writing, by Remark, nor will bombo permit Potter to do so. </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div></div><hr style="page-break-after:always"><a name="s7AAAB5DF4FC49736FF2F69C10010F2EF"></a><div></div><br><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:14pt;">For a period of two years from the Effective Date of this Servicing Agreement, Remark may, at its option, engage bombo at bombo&#8217;s cost to produce a total of four one-hour length projects. For purposes of this paragraph, &#8220;bombo&#8217;s cost&#8221; shall include only costs that are specific to a project for which it is engaged and shall not include any general and administrative expenses (&#8220;G &amp; A&#8221;) of bombo.</font></div><div style="line-height:232%;text-align:justify;text-indent:48px;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;">3. </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:14pt;">For a period of five years from the Effective Date of this Servicing Agreement, and subject to bombo&#8217;s written approval of any license or other similar agreement governing Remark&#8217;s exploitation (such approval not to be unreasonably withheld), Remark will have the exclusive right in China, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, East Timor, Hong Kong, Macau, Japan, South Korea, Australia, Federated States of Micronesia, Kiribati, Nauru, New Zealand, Samoa, Solomon Islands, Palau, Papua New Guinea, Marshall Islands, Vanuatu, Tonga, Tuvalu, American Samoa, Fiji, Guam, Mongolia, Northern Mariani Islands, Taiwan, Wallis and Futuna (collectively the &#8220;Asia Pacific Territory&#8221;) to use the &#8220;bombo Library&#8221; (as defined below). If Remark seeks to use product from the bombo Library and bombo does not at the time own the required rights, bombo will undertake reasonable good faith efforts to obtain the rights for the benefit of Remark (e.g., acquiring licenses from third parties that may be needed for Remark to exploit such rights), but bombo </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2</font></div></div><hr style="page-break-after:always"><a name="s7AAAB5DF4FC49736FF2F69C10010F2EF"></a><div>