SUNITY ONLINE ENTERTAINMENT LIMITED MANAGEMENT AGREEMENT
XXXXXX
ONLINE ENTERTAINMENT LIMITED
This
Management Agreement (the “Agreement”) is made and
entered into as of March 12, 2010, by and between
Party A:
Xxxxxx Online Entertainment Limited, (the “Company”) a Limited liability company
duly incorporated in Cayman Island, and
Party B:
a P.R.C citizen Xxx Xxxxx (“the Management”).
I.
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SERVICES
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1.1
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Party
B is hereby appointed to be the Company’s Management, effective on April
1, 2010. Party B is hereby appointed to be the subsidiary of the Company’s
management and the management of the controlled operation company,
effective on April 1, 2010. (the subsidiary of the Company and the
controlled operation company of the Company are collectively referred as
“Group Companies” hereunder)
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1.2
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Party
B agrees to perform such tasks as may be necessary to fulfil his
obligations as the Chief Executive
Officer of the Company and the Group Companies for so long as he is
duly appointed or elected and qualified in accordance with the applicable
provisions of the Articles of Association and Memorandum of Association of
the Company or any Group Company and until such time as he resigns. Party
B, in his capacity as Chief Executive
Officer may at any time and for any reason resign or be removed
from such position (subject to any other contractual obligation or other
obligation imposed by operation of law), in which event the Company and
the Group Company shall have no obligation under this Agreement with
respect to Party B.
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1.3
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Management Services. Party B’s
duties as Chief Executive
Officer of the Company and the Group Company shall
include:
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1.3.1
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Develop
a strategic plan to advance the company’s mission and objectives and to
promote revenue, profitability, and
growth.
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1.3.2
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Oversee
company operations to insure production efficiency, quality, service, and
cost-effective management of
resources.
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1.3.3
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Plan,
develop, and implement strategies for generating resources and/or revenues
for the company.
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1.3.4
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Approve
company operational procedures, policies, and
standards.
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1.3.5
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Review
activity reports and financial statements to determine progress and status
in attaining objectives and revise objectives and plans in accordance with
current conditions.
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1.3.6
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Evaluate
performance of executives for compliance with established policies and
objectives of the company and contributions in attaining
objectives.
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1.3.7
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Other
services mutually agreed to by Party B and the
Company.
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1.4
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Term. This Agreement shall
terminate upon the “Expiration Date”, which shall be the earlier of the
date on which Management ceases to be a member of the executive management
of the Company and the Group Company for any reason, including death,
resignation, removal, or failure to be elected by the stockholders of the
Company, or the date of termination of this Agreement in accordance with
Section 5.2 hereof.
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II.
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COMPENSATION
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2.1
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Fees to Management. The Company
agrees to pay Management a fee of RMB 10,000 per month for Management
Services in consideration for the service provided by Party B to the
Company and the Group Company, payable pursuant to the usual and customary
payroll practices of the
Company.
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III.
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CONFIDENTIALITY
AND NONDISCLOSURE
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3.1
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Confidentiality. During the term
of this Agreement, and for period of one (1) year after the Expiration
Date, Party B shall maintain in strict confidence all information he has
obtained from the Company and the Group Company during the term, which the
Company and the Group Company has designated as “confidential” or which is
by its nature confidential, relating to the Company’s business, operation,
properties, assets, services, condition (financial or otherwise),
liabilities, employee relations, customers (including customer usage
statistics), suppliers, prospects, technology, or trade secrets, except to
the extent such information (i) is in the public domain through no act or
omission of the Company and the Group Company, (ii) is required to be
disclosed by law or a valid order by a court or other governmental body,
or (iii) is independently learned by Party B outside of this
relationship as an officer of the Company and the Group Company (the
“Confidential Information”).
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3.2
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Nondisclosure and Nonuse
Obligations. Party B will use the Confidential Information solely
to perform his obligations for the benefit of the Company and the Group
Company hereunder. Party B will not use the Confidential Information for
his own benefit or the benefit of any other person or entity, except as
may be specifically permitted in this Agreement. Party B will
immediately give notice to the Company of any unauthorized use or
disclosure by or through him, or of which he becomes aware, of the
Confidential Information. Party B agrees to assist the Company and the
Group Company in remedying any such unauthorized use or disclosure of the
Confidential Information.
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3.3
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Return of Company Property. All
materials furnished to Party B by the Company and the Group Company, are
the sole and exclusive property of the Company and the Group Company.
Party B agrees to promptly deliver the original and any copies of the
property to the Company and the Group Company at any time upon request.
Upon termination of this Agreement by either party for any reason. Party B
agrees to promptly deliver to the Company and the Group Company the
original and any copies of the company property. Party B agrees to certify
in writing that he has so returned all such
property.
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IV.
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COVENANTS
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4.1
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No Conflict of Interests. During
the term of this Agreement, and for a period of one (1) year after the
Expiration Date, Party B shall not be employed by, own manage,
control or participate in the ownership, management, operation or control
of any person, firm, partnership, corporation or unincorporated
association or entity of any kind that is competitive with the Company and
the Group Company or otherwise undertake any obligation inconsistent with
the terms hereof. A business shall be deemed to be “competitive with the
Company and the Group Company” for purpose of this Article IV only if and
to the extent it engages in the business substantially similar to the
Company’s business.
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4.2
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Non-interference with Business.
During the term of this Agreement, and for a period of one (1) year after
the Expiration Date, Party B agrees not to interfere with the business of
the Company and the Group Company in any manner. By way of example and not
of limitation. Party B agrees not to solicit or induce any employee,
independent contractor, customer or supplier of the Company and the Group
Company to terminate or breach his, her or its employment, contractual or
other relationship with the Company and the Group
Company.
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V.
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TERM
AND TERMINATION
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5.1
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Term. This Agreement is
effective as of the date first written above and will continue until the
Expiration Date.
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5.2
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Termination. Either party may
terminate this Agreement at any time upon thirty (30) days prior written
notice to the other party, or such shorter period as the parties may agree
upon.
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5.3
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Survival. The rights and
obligations contained in the Articles III and IV will survive any
termination or expiration of this
Agreement.
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VI.
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MISCELLANEOUS
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6.1
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Assignment. Except as expressly
permitted by this Agreement, neither party shall assign, delegate, or
otherwise transfer any of its rights or obligation under this agreement
without the prior written consent of the other party. Subject to the
foregoing, this Agreement will be binding upon and inure to the benefit of
the parties hereto and their respective heirs, legal representatives,
successors and assigns.
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6.2
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No Waiver. The failure of any
party to insist upon the strict absence and performance of the terms of
this Agreement shall not be deemed a waiver of other obligations
hereunder, nor shall it be considered a future or continuing waiver of the
same terms.
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6.3
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Notices. Any notice required or
permitted by this Agreement shall be in writing and shall be delivered as
follows with notice deemed given as indicated: (i) by personal delivery
when delivered personally; (ii) by overnight courier upon written
verification of receipt; (iii) by facsimile transmission upon
acknowledgment of receipt of electronic transmission; or (iv) by certified
or registered mail, return receipt requested, upon verification of
receipt. Notice shall be sent to the addresses set forth on the signature
page of this Agreement or such other address as either party may specify
in writing.
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6.4
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Governing Law. This Agreement
shall be governed by and construed and enforced under the laws of the
State of New York.
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6.5
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Severability. Should any
provisions of this Agreement be hereby a court of law to be illegal,
invalid or unenforceable, the legality, validity and enforceability of the
remaining provisions of this Agreement shall not be affected or impaired
thereby.
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6.6
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Entire Agreement. This Agreement
constitutes the entire agreement between the parties relating to this
subject matter and supersedes all prior or contemporaneous oral written
agreements concerning such subject matter. The terms of this Agreement
will govern all Management Services undertaken by Party B for the
Company and the Group Company.
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6.7
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Amendments. This Agreement may
only be amended, modified or changed by an agreement signed by the Company
and Party B. The terms contained herein may not be altered, supplemented
or interpreted by any course of dealing or
practices.
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6.8
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Counterparts. This Agreement may
be executed in two counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument.
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IN
WITNESS WHEREOF, the parties have executed this Agreement as of date first
written above.
Company:
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Xxxxxx
Online Entertainment Limited
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Representative:
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/s/ Xxx Xxxxx |
Date:
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March,
12, 2010
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Party
B:
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/s/ Xxx Xxxxx |
Date:
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March,
12, 2010
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