Dated this 25th day of March 1999
XXXX0XXXX.XXX LIMITED
and
MOMENTUM INTERNET INC.
**************************************
AGREEMENT
***************************************
Xxxxxxx & Xxxxx
16th Floor On Hing Building
Xx. 0 Xx Xxxx Xxxxxxx
Xxxxxxx
Xxxx Xxxx
Tel. No.: 0000 0000
THIS AGREEMENT is made the 25th day of 1999
BETWEEN
Xxxx0xxxx.xxx Limited whose registered office is situate at 00X Xxxxx Xxxxxxx
Xxxx Xxxxxx, 00 Xxxxxxxxxx Xxxx, Xxxxxxx, Xxxx Xxxx (hereinafter called
"Asia4sale") of the one part and
Momentum Internet Inc. having its registered address at P.O. Box 957, Offshore
Incorporated Centre, Road Town, Tortola, British Virgin Islands (hereinafter
called "MII") of the other part.
WHEREAS
1) Asia4sale provides various internet services including on line shopping
facilities and MII provides promotional services
2) Asia4sale has agreed to share its revenues with MII on the terms and
conditions hereinafter appearing
NOW IT IS HEREBY AGREED as follows:
1 In consideration of MII providing promotional services to
Asia4sale, it is hereby agreed that after Asia4sale has paid
suppliers, shop franchisees as hereinafter defined and credit card
transaction fees for each purchase made (but no other expenses) the
balance of the total paid receipts of Asia4sale (after deduction of
tax) will be split equally between Asia4sale and MII.
2. Payments made by Asia4sale to MII will be at a mutually agreed time
subject to an account being taken between both parties after receipt
of the audited accounts for any financial year of Asia4sale so that
appropriate adjustments can be made.
3. Definitions:
1) Suppliers: all those third parties who provide goods to
and which are onward sold by Asia4sale.
ii) Shop franchisees: all those third parties who sell the
products of Asia4sale through web sites
4. This agreement is governed by the laws of Hong Kong and the parties
hereto submit to the exclusive jurisdiction of the Courts of Hong
Kong.
IN WITNESS whereof this Agreement has been executed on the day and year first
above written.
1
SIGNED by XXXXX XXXXXXX )
/s/ Xxxxx Xxxxxxx
for and on behalf of Xxxx0xxxx.xxx )
Limited in the presence of:- )
SIGNED by XXXXXXX )
/s/ Xxxxxxx Xxxxx
XXXXXXX XXXXX for and on )
behalf of Momentum Internet Inc. in)
the presence of )
2