Memorandum of Intention between Sochi State University of Tourism and Recreation And The University of Miami/Vemics Inc. Aims of Memorandum
Exhibit
10.14
Memorandum
of Intention between Sochi State University of Tourism and
Recreation
And
The University of Miami/Vemics Inc.
Aims
of Memorandum
The
parties have agreed to carry out cooperative activities aimed at extension of
education, syllabus development, research work, academic student and teacher
exchange. The parties will also look at other favorable opportunities for the
accomplishment of educational activities between two Universities and pursue on
an exclusive basis contracts to provide language training services to the
Olympic committee, the City of Sochi and the Krasnodar Region.
2.
[sic] Preliminary activities.
The
parties have agreed that before signing a formal agreement on cooperation the
parties should carry out the following:
- to
hold marketing study
3.
Financial issues.
The
parties agree that at the moment they pay by themselves their own expenses
related to the present agreement while perusing preparatory
work.
4.
Cooperation.
On
completion of successfully accomplished activities the universities will try to
identify the ground for the formal collaboration by signing the agreement (which
includes all necessary memorandums and agreements on the parties
responsibilities, financial issues and administrative
procedures)
5.
Coming into force and continuance.
The
present memorandum comes into force from the moment of its signing and till the
moment of signing of the Agreement on cooperation or on making the two sided
decision to stop the collaboration.
6.
Confidentiality.
Each
party preserves confidentiality of all the information and materials developed
acquired or used related to the present agreement and can not use these
materials or information with any intent different from the one voiced in the
present agreement or divulgate the information without the written agreement on
it by the owner of this information or material.
7.
Intellectual property.
The
right to own the intellectual property belongs to the party — author of the
information and seen as a confidential information if there is no other
agreements of parties on it are made..
8.
Name and logotype.
Neither
of the parties can use the name or the logotype or any variation of these
symbols of the other party without the written agreement of the owner on
it.
9.
Legal effect.
The
present agreement is not legally obligatory and not constitutes any partnership
or joint enterprise. Not withstanding the over above written agreement items 6,
7 and 8 still hold its force even after cancelling or expiration of the term of
the present agreement.
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10.
Cancellation.
The
present memorandum can be canceled:
A. By
the mutual agreement of both parties till the end of preparatory activities or
B. By the initiative of one of the parties if by the results of the
preparatory work the collaboration is not viable, or C. On the
completion of the preparatory activities (successful or not) The successful
completion of the preparatory activities is not a guarantee of the formal
collaboration.
11.
Third parties.
The
parties different from those who have made the agreement can not refer to or
accomplish any of the conditions of the present agreement. In case it doesn't
affect the rights or means of legal protection of the third party existing or
juridical available regardless of the present establishment.
In
acceptation of over above memorandum below signed representers of the parties
have the proper authority and agree to sign the present
memorandum.
Sochi State University of
Tourism
Signature
/s/ Xxxxxx
Xxxxxxxxx
Name Xxxxxx
Xxxxxxxxx
Position Xxxxxx
Date April 17,
2007
Signature
/s/ E Xxxxx
Xxxxxxxxxx
Name E
Xxxxx Xxxxxxxxxx
Position
President IES
Date
April 17th 2007
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