CORPORATION AGREEMENT
RELIANCE ASIA DEVELOPMENT LTD, hereafter called Party A Room 0000-0, Xxxxxxxxx
Xxxxx, Xxx Xxxxxxxx, Xxxxxxx, XXXX XXXX
PAC PACIFIC GROUP INTERNATIONAL, hereafter called Party B 000 Xxxxxx Xx. Xxxxx
Xxxxxx, Xxxxx, 00000 XXX
XXXXX X. XX hereafter called Party C
Villa Xxxxx Estate Al, Aha Compound, Villa 36 P.O. Box 61837, Xxxxxx 00000,
XXXXX XXXXXX
1. Based on Party A's agreement with China Central Television, Educational
and Science Division to produce the program series "PASSAGE TO FUTURE"
the above parties through friendly negotiation agree to join together
to complete this television project.
2. Television program content will be as agreed with China Central Tele-
vision, Educational and Science Division:
(a) Internet science and technology
(b) Internet business personalities and leading companies
(c) Internet major events and important news
(d) Actual interviews and reports
3. The responsibilities of the three parties:
(a) Party A responsible for the follow up of the corporation
agreement with China Central Television and the broadcasting
of the program the planning of the creation of the script
planning report and production of the program. In addition to
gathering the information and material for the program. Party
A will assist Party B in negotiation and obtaining of the
sponsorships. (This includes providing in a timely fashion all
necessary information and material required by prospective
sponsors) Party A is further responsible for ensuring that all
production costs stay within the budget agreed upon in this
agreement.
(b) Party B will collect technical information and "B" roll film
responsible for the obtaining 80 %d of all the funding for the
program (including advertising and corporate sponsors) the
average amount of sponsorship and advertising shall not
average less than US48,000.00 over the 52 episodes. Party B is
responsible to distribute the monies so obtained (to CCTV, the
production team, and Parties A, B, C) according to this
agreement.
(c) Party C responsible for all coordination of the relationship
and obtaining 20% of the funding for the program.
4. China Central Television will receive RMB80,000.00 per episode based on
the Letter of Intent dated 27 November 1998 between CCTV and BETC
Advertising Company, Beijing.
5. The above three parties will form a production team will be responsible
to produce the series within the budget agreed to by the three parties
of this agreement. The production budget may NOT be exceeded without
full agreement of all three parties in advance.
6. Profit-sharing:
Once CCTV has been paid its production expenses as (4 above) and the
production unit has been paid its production costs per approved budget
(5 above) the above three parties will share the profit as follows:
Party A: 50 %
Party B: 40%
Party C: 10%
7. Non-circumvention Party B and Party C will finish to Party A a list of
advertisers and sponsorships to whom Party B and Party C will introduce
this Project. Party A agrees that the above fees (see item 6) will be
paid on any monies deliveries by these advertisers and sponsors to
Party A or its affiliate or subsidiary or partner within 3 years of
signing this agreement.
8. This agreement effective upon signing of the signatures, from the date
it is signed.
9. If Party B or Party C does not obtain the minimum funding as required
by this agreement, Party A has the right to terminate the relationship
after 80 days after signing of this agreement. However, if the cause is
due to the non-performance of Party A (such as providing necessary date
or materials) then Party B and C shall be granted additional extensions
by mutual agreement.
/s/ Reliance Asia Development Ltd.
January 27, 1999
/s/ Xxxx Xxxxx
March 1, 1999
/s/ Xxxxx X. Xx
January 23,1999
Reliance Asia Development Limited
LETTER OF AUTHORIZATION
Based on our agreement with China Central Television CCTV, Our Company will be
cooperating on the TV program - "Passage to Future".
Pac Pacific Group Inc. will be working together with us as our joint-venture
partner and function as our operational arm in the United States.
Xx. Xxxx Xxxxx, Chairperson and Mr. Felizian Xxxx, President and CEO of the
company will be our company's USA representatives. Contact address: 000 Xxxxxx
Xx. Xxxxx Xxxxxx, Xxxxx. 00000. They will be responsible to introduce, contact
and discuss on our behalf the following matters:
(1) Obtain information, footages, material for the "Passage to Future"
a) Science information and technology.
b) Information about important personalities in the International
business and Internet sectors.
c) News about important events-
d) Interview to record the actual events and situations.
(2) Contact the sponsors.
(3) Arranging the Advertisement
RELIANCE ASIA DEVELOPMENT LTD
/s/ CHU Xx
XXX Li
Director
December 28, 1998
