Partnership Agreement Party A: Global Music International Inc. (IMNTV)
Party
A:
Global Music International Inc. (IMNTV)
Party
B:
Beijing YueHai Communication Information Technology Ltd.
Both
parties agree to entering this partnership in developing the Mobile Music
content
business in China for IMNTV based on the principals of being equal, mutually
beneficial, honest, and in compliance with Chinese laws.
-1-
1.
Authorization and Transferability
1.1
Based
on
this agreement, Party A authorize Party 3 as its reseller for marketing
agent
for
Party 8 for applications in the area of Mobile Digital Music services
within
the territory of' People Republic of China (not including Taiwan, Hong Kong,
or
Macao). Party B hereby accepts this authorization.Unless
explicitly authorized in writing, the terms of this agreement does not transfer
to any third party.
2.
Party
A Responsibilities
2.
1
Party
A
shall provide Party B with music content products which Part) A owns copyright
or are authorized with the proper distribution rights. Party A shall present
the
necessary written proof of copyright or distribution authorization for the
above
mentioned content.
2.
2
The
music
content Party A is to provide to Party B must be compliant with the Chinese
law
end regulations.
3.
Party
B Responsibilities
3
.1
Faithfully
execute the terms of this agreement, market and promote the music content from
Party A through Mobile Music services to China, and fulfill its responsibility
with the best of its abilities.
3.
2
Based
on
the agreement with China Unicom, provides Party A with usage reports upon
request.
3.
3
Party
B
will not distribute Party A’s music content for applications other than the
purpose outside of mobile music services without the written authorization
of
Party A; nor should Party B transfer the distributorship authorization to any
third party.
3.
4
Party
B
will fully utilize its established distribution channels to market, sell, and
promote Party A’s music content.
4.
Intellectual Property
Party
A
must guarantee that the music content it provides has the proper copyrights
or
it has the distribution, rights.
Any
party
of this agreement should not be liable for intellectual property disputes on
the
part of the other party,, and be responsible for resolving any such potential
disputes on its own without causing liability on the other party.
-2-
5.
Financials and Account Reconciliation
The
parties agree to distribute the income generated from this agreement (excluding
fees to the carrier) according to the following ratio: Party A 80%, Party B
20%.
Party
A
Income = Distributable Income x 80%
Party
B
Income = Distributable Income x 20%
6.
Confidentiality
6.
1
Neither
party shall disclose any commercial information or trade secrets (including
but
limited to the content of cooperation, product information, promotional
materials, research reports, etc.) to any unrelated third party without the
written consent from the other party.
6.
2
Any
unpublished data or information disclosed by a party of this agreement to the
other party, shall not be disclosed to any third party without the disclosing
party' s written authorization.
6.
3 6.1
and
6.2 do not apply to the following situations:
1.
Information already entered the public domain without violating this
agreement.
2.
Information obtained by both parties with proper authorization and in compliance
with the law.
3.
Information already obtained through other means before entering into this
agreement.
4.
Information is obtained independently by the receiving party.
5.
Information required to be disclosed by law, for the purposes of monitoring
of
security trading, other government authorities and administrative agency
functions. The party disclosing the information shall use its best effort in
protecting the confidentiality of the information and secrets, and not to use
the disclose .information for any purposes other than the above.
7.
Releases and Termination
7.
1
If
Parry
B fails to distribute the music content according to the agreement method,
application, and territory limits, Party A has rights to unilaterally terminate
the agreement if Party B fails to cure this failure within 15 days of written
notification by Party A.
-3-
7.
2
During
the term of this agreement, if there are third parties who dispute the
copyrights of these music content which prohibits Party B to fulfill its
responsibilities to offer Value Added Services to carriers, Party 3 has rights
to terminate the agreement unilaterally if Party A fails to cure such disputes
within 15 days after receiving written notification by Party B.
7.
3
If
one
party fails to fulfill its responsibilities, the other party shall notify the
other party with a written document. If the breach is not remedied within 15
days of the notice, the other party has rights to terminate this
agreement.
7.
4 If
one
party is in the process of liquidation, transfer of ownership or bankruptcy
the
other party has rights to terminate this agreement.
7.
5
The
rights or responsibilities resulting from this agreement prior to the
termination of this agreement are still valid in case the agreement is
terminated ahead of the agreed term. Outstanding account balance and fees owed
shall be honored in the same fashion.
8.
Dispute Resolution
8.
1
In
case
of disagreement or disputes, both parties shall negotiate constructively to
find
resolutions. In case the parties can not reach resolutions, the dispute shall
be
submitted to the Arbitration Committee of Beijing. The judgment of the
arbitration will be final and binding for both parties.
8.
2
The
stipulations, execution, and interpretation must be subject to the laws and
regulations of People’s Republic of China.
9.
Others
9.
1
Any
other
issues which are not included in the agreement can be included in an amendment
to this agreement. The terms of the agreement overrides if there is any
inconsistency between the amendment and the agreement.
9.
2
The
agreement is effective upon the date when it is signed and stamped by the
appointed officers of the parties. The term of this agreement is ONE (1.) year,
xxxxxxxx on July 18, 2006, and ends on July 17, 2007. Within 30 days of
expiration, the parties will discuss whether to renew the agreement. Without
explicit arrangements, the contracts automatically renew for another ONE (1)
year.
9.
3
There
are
FOUR (4) of this agreement, TWO (2) copies for each party, all are legally
binding with equal power.
-4-
Party
A:
Global Music International Inc. (IMNTV)
Party
A
Legal Representative: Xxxxxxxxxxx Xxxxxxx.EVT and Chief Technology Officer
Address:
00 Xxxxxx Xxxxx Xxxxxx Xxxxx 0 Xxxxxx, XX 00000
Party
B:
Beijing YueHai Communications Information Technology Ltd.
Party
B
Legal Representative: Xx Xxx Zhi
Address:
Suite 1902, Tower 2, Bright China Xxxxx Xx Xxxxxxxx, Xx. 0 Xxxxxxxxxxx Xxx
Xxxxxx, Xxxxxxx 000000 China.
-5-