ADVERTISING AGREEMENT
1. PARTIES OF THE AGREEMENT
This Agreement is made between:
LEVER COM. SERV. S. R.L., a company incorporated and existjng under the
laws of Romania whose registered office is at 000 Xxxxxxxxxx Xxx. Plojesti.
Romania ( hereinafter referred to as "BENEFICIARY" )
and
MAXIMAL Productions, a company incorporated and existing under the laws of
Austria wbose registered office is at Sport- und Kulturveranstaltungen GesmbH
Xxxxxxxxxxxxx 0, 0000 Xxxx (herenafter referred to as "ORGANIZER" )
Whereas:
A) The BENEFICIARY wishes to organize the Elite Model Look 1997 Advertising
Event for its brands Lux and Impluse and to appoint the ORGANIZER in doing so.
B) The ORGANIZER wishes to assist the BENEFICIARY in organizing the event.
Now it is hereby agreed as fol1ows:
2. OBJECTIVE
Organisation of the LUX and IMPULSE ELITE MODEL LOOK 1997 (referred to
within this Agreement as EML 1997). event held in Bucharest between
10.08.1997-04.09.1991..
3. PAYMENT TERMS
The total value of the contract is US $ 45.000 plus VAT (18%), representing
the total amount of the sponsorship.
The amount will be paid by the BENEFICIARY, by payment order.
The payment terms are:
o 50% after signing the contract
o 50% on 08.09.1997 after the final event, when the ORGANIZER provides
the BENEFICIARY with the exact final media monitoring.
4. OBLIGATIONS OF THE PARTIES
a. SPONSOR Obligatjons:
.to pay the sponsorship amount in tenns agreed in part. 3.
b. ORGANIZER Obligation8:
.to ensure the available. frec of charge:, of the contest winner to be
used by the BENEFICIARY for one week to produce a commercial
photoshooting until August
.to ensure that the EML contestants can be booked by the
ENEFTC1ARY for thc 50% or the Romanian usual fee .to ensure the
BENEFICIAR Y the rigbt to use pictures of the Contestants and the
winner of the promotion
.to ensure the BENEFIC1ARY the right to use the EML logo and name for
printed advertising TV and radio spots untll August
.to promote the BENEFICIARY in all materiats listed
. to inform the BENEFICIAIRY about any modification in the program
in the evcnt with at least 2 days before the show
.to present the BENEFICIARY al1 the drafts of TV and radio
annuuncements and print materials designed to promotc thc event for
client approval before it is aired or published
.to ensure the BENEFTC1ARY first option rights to the event in 1998
the ORGANISER hereby covenants that it will, with all due di1igence.
do all such things in order to achieve its obligations hereunder.
including achievcment of proposed steps and actions as provided in
Annex J at thc prescnt contract.
5. WAIVER
A Parties failure to insist on strict performance of this Agreement or
his failure to exercise any option under this Agreement is not a
waiver or any part of this Agreement.
6. PARTIAL INVALIDITY
If a Court or other Tribunal declares or detemines that a portton
of tbis Agreetnent is invalid or otherwise unenforceable. This
Agreement shall continue to bind the Parties to this Agreement.
11. PENALTIES
If the ORGANIZER does not perform any of the obligations specified in
Annex 1 the Organizer must pay US$ 15.000 to the BENEFICIARY. If the
ORGANIZER does not perform the obligations specified in Annex II, the
ORGANIZER must compensate the BENEFICIARY in accordance with Scala
Communications/J.W.T. evaluation, plus 20%
12. RETURN OF MATERIALS
At the time this Agreement terminates, ORGANIZER shall return to the
BENEFICIARY all materials belonging to the BENEFICIARY
13. GOVERNING LAW
This Agreement is governed by the law of Romania.
Disputes not solved amicably shall be brought to the Arbitration Court
of the Chamber of Commerce in Bucharest. The language of arbitration
will be English.
14. FINAL PROVISIONS
No addition or modification of this Agreement shall be valid unless
made in writing and signed by both parties.
This Agreement contains the final expression of the entire Agreement
and supersedes any prior or contemporaneous oral agreement between the
parties concerning the subject matter of this Agreement.
Annex I and II are an integral part of this Agreement.
This Agreement was concluded today at 4 (four) copies, two or them being
submitted to___________ and the other two being submitted to ________________
