SUNITY ONLINE ENTERTAINMENT LIMITED MANAGEMENT AGREEMENT
XXXXXX ONLINE ENTERTAINMENT
LIMITED
MANAGEMENT
AGREEMENT
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 Xxxxxxx Xxxx (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 Marketing
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
Marketing
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.
Party B’s duties as Chief
Marketing
Officer of the Company and the Group Company shall be
mutually agreed to by Party B and the Company under separate
cover.
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1.3
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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 5,000 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/ Xxxxxxx Xxxx |
Date:
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March,
12, 2010
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