SUNITY ONLINE ENTERTAINMENT LIMITED MANAGEMENT AGREEMENT
XXXXXX
ONLINE ENTERTAINMENT LIMITED
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 Anbao Teng (“the Management”).
I.
|
SERVICES
|
1.1
|
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)
|
1.2
|
Party
B agrees to perform such tasks as may be necessary to fulfil his
obligations as the Chief Technology
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 Technology
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
Technology Officer of
the Company and the Group Company shall be mutually agreed to by Party B
and the Company under separate
cover.
|
1.3
|
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.
|
II.
|
COMPENSATION
|
2.1
|
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.
|
III.
|
CONFIDENTIALITY
AND NONDISCLOSURE
|
3.1
|
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”).
|
3.2
|
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.
|
3.3
|
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.
|
IV.
|
COVENANTS
|
4.1
|
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.
|
4.2
|
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.
|
V.
|
TERM
AND TERMINATION
|
5.1
|
Term.
This Agreement is effective as of the date first written above and
will continue until the Expiration
Date.
|
5.2
|
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.
|
5.3
|
Survival. The
rights and obligations contained in the Articles III and IV will survive
any termination or expiration of this
Agreement.
|
VI.
|
MISCELLANEOUS
|
6.1
|
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.
|
6.2
|
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.
|
6.3
|
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.
|
6.4
|
Governing Law.
This Agreement shall be governed by and construed and enforced under the
laws of the State of New York.
|
6.5
|
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.
|
6.6
|
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.
|
6.7
|
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.
|
6.8
|
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.
|
IN
WITNESS WHEREOF, the parties have executed this Agreement as of date first
written above.
Company:
|
Xxxxxx
Online Entertainment Limited
|
Representative:
|
/s/ Xxx Xxxxx |
Date:
|
March,
12, 2010
|
Party
B:
|
/s/ Anbao Teng |
Date:
|
March,
12, 2010
|