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Exhibit 10.5
SHARED TRANSACTION SERVICES AGREEMENT
BETWEEN
THE DUN & BRADSTREET CORPORATION
AND
THE NEW DUN & BRADSTREET CORPORATION
Dated as of June 30, 1998
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SHARED TRANSACTION SERVICES AGREEMENT (this "Agreement"),
dated as of June 30, 1998 (the "Agreement Date"), by and between The New Dun &
Bradstreet Corporation, a Delaware Corporation ("New D&B") and The Dun &
Bradstreet Corporation, a Delaware corporation (the "Corporation").
W I T N E S S E T H :
WHEREAS, the Board of Directors of the Corporation has
determined that it is appropriate, desirable and in the best interests of the
holders of shares of common stock, par value $1.00 per share, of Corporation
("Corporation Common Stock"), to take certain steps to reorganize Corporation's
subsidiaries and businesses and then to distribute to the holders of the
Corporation Common Stock all the outstanding shares of common stock of New D&B
(the "Distribution");
WHEREAS, prior to the Distribution Date, Dun & Bradstreet,
Inc. ("Service Provider") a subsidiary of New D&B, has provided and X.X.
Xxxxxxxxx, Inc. ("RHD"), a subsidiary of the Corporation, has purchased,
pursuant to various written and oral agreements, the Services described in this
Agreement; and
WHEREAS, in order to facilitate the orderly continuation of
RHD's business for a transitional period after the Distribution Date and to
provide certain services to RHD and the Corporation after the Distribution Date,
New D&B, on behalf of Service Provider, has agreed to provide to RHD and the
Corporation (collectively, RHD and the Corporation are referred to herein as the
"Recipient"), and the Corporation, on behalf of itself and RHD, has agreed to
purchase from Service Provider, the Services described in this Agreement.
NOW, THEREFORE, in consideration of the agreements set forth
below, it is agreed as follows:
ARTICLE 1. DEFINITIONS AND CONSTRUCTION
1.1 Definitions. The following defined terms shall have the
meanings specified below:
(1) "Additional Services" shall mean those services, in addition to the
Services, requested by Recipient pursuant to Section 3.2.
(2) "Agreement" shall have the meaning set forth in the Heading.
(3) "Agreement Date" shall have the meaning set forth in the preamble.
(4) "Alternative Provider" shall mean any alternative external service
provider selected by Recipient for the provision of services similar to
the Services following the expiration or termination of this Agreement.
(5) "Corporation" shall have the meaning set forth in the preamble.
(6) "Distribution" shall have the meaning set forth in the Recitals.
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(7) "Distribution Agreement" shall mean the Distribution Agreement dated as
of June 30, 1998, between the Corporation and New D&B.
(8) "Distribution Date" shall mean the date on which the Distribution is
made under the Distribution Agreement.
(9) "Fees" shall mean those charges for the Services set forth in Schedule
B.
(10) "New D&B" shall have the meaning set forth in the preamble.
(11) "Parties" shall mean Service Provider and Recipient, collectively.
(12) "Party" shall mean either of Service Provider or Recipient, as the case
may be.
(13) "Recipient" shall have the meaning set forth in the Recitals.
(14) "Recipient Data" shall mean all data or information supplied by
Recipient to Service Provider for processing or transmission in
connection with the Services.
(15) "RHD" shall have the meaning set forth in the Recitals.
(16) "Service Provider" shall have the meaning set forth in the Recitals.
(17) "Service Provider Service Location" shall mean any Service Provider
service location from which Service Provider provides or performs the
Services. The Service Provider Service Locations as of the Agreement
Date are located at Shelton, Connecticut, New York, New York,
Allentown, Pennsylvania, Berkeley Heights, New Jersey and Xxxxxx Hill,
New Jersey.
(18) "Service" shall mean the Shared Transaction Services.
(19) "Shared Transaction Services" shall mean the services described in
Schedule A.
(20) "Term" shall have the meaning set forth in Article 2.
1.2 References. In this Agreement and the Schedules to this
Agreement:
(1) the Schedules to this Agreement shall be incorporated in and
deemed part of this Agreement and all references to this
Agreement shall include the Schedules to this Agreement; and
(2) references to the word "including" or the phrase "e.g." in
this Agreement shall mean "including, without limitation".
1.3 Headings. The article and section headings are for
reference and convenience only and shall not be considered in the interpretation
of this Agreement.
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1.4 Interpretation of Documents. In the event of a conflict
between this Agreement and the terms of any of the Schedules, the terms of this
Agreement shall prevail.
ARTICLE 2. TERM OF AGREEMENT.
The term of this Agreement shall commence on the Distribution
Date and shall continue until all services to be provided hereunder have been
completed (the "Term"), unless terminated earlier pursuant to Section 13.1.
ARTICLE 3. SERVICES.
3.1 Services. Service Provider shall provide to Recipient, and
Recipient shall purchase from Service Provider, the Shared Transaction Services.
The Services shall be of substantially the same type, quantity, quality and
utilization levels and provided with substantially the same degree of care and
diligence as such services had been provided to Recipient during the period
prior to the Distribution Date.
3.2 Additional Services. In the event that Recipient desires
to receive Additional Services or requires an increase in volume of Services,
Recipient shall notify Service Provider. If Service Provider agrees to provide
Additional Services or to an increase in volume of Services and the parties
agree on the terms applicable thereto, Service Provider and Recipient shall
execute a written amendment to this Agreement setting forth any additional terms
and conditions applicable thereto, including any additional fees.
ARTICLE 4. RECIPIENT OBLIGATIONS.
4.1 Generally. Recipient shall:
(1) comply with any reasonable instructions provided by Service Provider
that are necessary for Service Provider to adequately provide the
Services;
(2) comply with all standards and procedures applicable to the Service
Provider Service Location;
(3) promptly report any operational or system problem to Service Provider;
and
(4) maintain a business recovery plan detailing the requirements of
Recipient in the event of the occurrence of a disaster affecting the
Services and periodically test such plan.
4.2 Associated Equipment. Recipient shall maintain and be
responsible for all costs (including personnel, maintenance and repair)
associated with communications equipment (including terminals, communications
hardware, modems and telephone lines) that Recipient owns or operates and that
are not located at the Service Provider Service Location necessary to provide
the Services or to transmit the Recipient Data for processing at the Service
Provider Service Location.
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4.3 Security. Recipient shall ensure that user accounts shall
only be used by the person for whom such account was created or other authorized
personnel. Recipient shall promptly inform Service Provider of any individual
who is no longer authorized to use the Services.
ARTICLE 5. PROPRIETARY RIGHTS.
5.1 Exclusive Property. All software and hardware used by
Service Provider to provide the Services is, or shall be, and shall remain, the
exclusive property of Service Provider or its third party licensor and Recipient
shall have no rights or interests in same.
5.2 Third-Party Licenses. With regard to any software used by
Service Provider to provide the Services, in the event that any licensor of such
software to Service Provider does not permit Service Provider to use such
software or any portion thereof to provide the Services, Recipient shall obtain
a license for such software at its own cost (which permits Service Provider to
use such software to provide the Services), Service Provider shall reduce the
Fees to reflect such reduction in its costs, or in the event that Service
Provider itself obtains the right to use such software to provide the services,
Service Provider shall have the right to increase the Fees to reflect any
increase in its costs, and Service Provider shall not be responsible for the
loss of the right to use such software to provide the Services or for any
failure or delay of Recipient in procuring such license provided that Service
Provider gives notice to Recipient and reasonably assists Recipient in procuring
such license.
ARTICLE 6. DATA
6.1 Form of Data. All data submitted by Recipient to Service
Provider in connection with the Services shall be in the form substantially
similar to that submitted before the Distribution date, unless otherwise agreed
to in writing by the parties.
6.2 Ownership of Data. The Recipient Data is and shall remain
the property of Recipient or its customers.
6.3 Ownership of Media. Unless furnished to Service Provider
by Recipient, all media upon which Recipient Data is stored is and shall remain
the property of Service Provider. Recipient may, upon Service Provider's
consent, (1) provide Service Provider with a replacement for the media upon
which the Recipient Data is stored or (2) purchase such media from Service
Provider at the price specified by Service Provider.
6.4 Responsibility for Data. Recipient is responsible from the
Agreement Date for (1) the accuracy and completeness of the data submitted by
Recipient in connection with the Services and (2) any errors in and with respect
to data obtained from Service Provider because of any inaccurate or incomplete
data submitted by Recipient to Service Provider.
ARTICLE 7. FEES
7.1 Fees. Recipient shall pay to Service Provider the fees set
forth in Schedule B in respect of each of the Services.
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7.2 Time of Payment. The Fees shall be paid by Recipient as
set forth on Schedule B.
7.3 Taxes. Recipient shall pay any value-added tax and any
tariff, duty, export or import fee, sales tax, use tax, service tax or other tax
or charge subsequently imposed by any government or government agency on
Recipient or Service Provider with respect to the Services or the execution or
performance of this Agreement.
7.4 Late Payments. Any fees or payments owing to Service
Provider pursuant to this Agreement that are not paid when due (other than as a
result of a delay directly caused by Service Provider or its affiliates) shall
bear interest at the rate of one and one-half (1-1/2) percent per month, but in
no event to exceed the highest lawful rate of interest, calculated from the date
such amount was due until the date payment is received by Service Provider.
ARTICLE 8. CONFIDENTIALITY.
Each of the Parties shall not use or permit the use of
(without the prior consent of the other) and shall keep, and shall cause its
consultants and advisors to keep, confidential all information concerning the
other Party in its possession, its custody or under its control, except to the
extent that (1) such information has been in the public domain through no fault
of such Party or (2) such information has been later lawfully acquired from
other sources by such Party or (3) this Agreement or any other agreement entered
into pursuant to this Agreement permits the use or disclosure of such
information, to the extent such information (a) relates to the period up to the
Distribution Date or (b) is obtained in the course of providing or receiving the
Services pursuant to this Agreement, and each Party shall not (without the prior
consent of the other) otherwise release or disclose such information to any
other person, except such Party's auditors and attorneys, unless compelled to
disclose such information by judicial or administrative process or unless such
disclosure is required by law and such Party has used commercially reasonable
efforts to consult with the other Party prior to such disclosure.
ARTICLE 9. INDEMNITY.
Each Party agrees to indemnify and hold harmless the other
Party in respect of all claims, costs, expenses, damages and liabilities
(including reasonable attorney's fees) arising from the gross negligence or
willful misconduct of the employees, agents or other representatives of the
indemnifying Party after the Agreement Date or the breach of such Party's
covenants or other obligations under this Agreement. In no event shall either
Party have any liability to the other Party for any claims, losses, damages,
judgments, costs or expenses which the other Party may suffer or incur as a
result of injuries to personnel of such other Party or loss or theft or damage
to any personal property of such other Party at the Service Provider Service
Location, except as provided in the foregoing sentence.
ARTICLE 10. DISCLAIMER AND LIMITATION OF LIABILITY.
10.1 DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH HEREIN, SERVICE
PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES IN RESPECT OF THE SERVICES,
EXPRESS OR IMPLIED, INCLUDING THE WARRANTIES OF
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MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
10.2 Limitation of Liability. Recipient acknowledges that the
Services are provided by Service Provider (1) at the request of Recipient in
order to accommodate the Distribution, (2) at Service Provider's cost and that
no profit is being made by Service Provider and (3) with the expectation that
Service Provider is not assuming any financial or operational risks, including
those usually assumed by a service provider. Accordingly, Recipient agrees that
Service Provider shall not be liable for any direct, indirect, special,
incidental, consequential or other damages, of any nature whatsoever, including
lost profits or savings, whether or not such damages are foreseeable, or for any
third party claims relating to the Services or Service Provider's performance
under this Agreement.
ARTICLE 11. DISPUTE RESOLUTION.
11.1 Procedure. Any disputes arising out of or in connection
with this Agreement shall be settled in accordance with the dispute resolution
mechanisms set forth in Article VI and Section 8.17 of the Distribution
Agreement.
11.2 Continuity of Services and Performance. Unless otherwise
agreed in writing, the Parties shall continue to provide the Services and honor
all other commitments under this Agreement during the course of dispute
resolution pursuant to the provisions of this Article 12 with respect to all
matters not subject to such dispute, controversy or claim.
ARTICLE 12. CONTINUED PROVISION OF SERVICES.
12.1 Force Majeure. Service Provider shall not be in default
of its obligations hereunder for any delays or failure in performance resulting
from any cause or circumstance beyond the reasonable control of Service
Provider, provided that Service Provider exercises commercially reasonable
efforts to perform its obligations in a timely manner. If any such occurrence
prevents Service Provider from providing any of the Services, Service Provider
shall cooperate with Recipient in obtaining, at Recipient's sole expense, an
alternative source for the affected Services, and Recipient shall be released
from any payment obligation to Service Provider in respect of such Services
during the period of such force majeure.
12.2 Disaster Recovery. Service Provider shall maintain a
disaster recovery policy in accordance with Schedule A. Upon the occurrence of a
disaster affecting the Services, Service Provider shall implement the disaster
recovery policy and Recipient shall be responsible for its proportionate share
of any fees incurred by Service Provider in connection with implementing the
disaster recovery policy.
ARTICLE 13. TERMINATION.
13.1 For Convenience. Recipient may terminate this Agreement
at any time during the Term upon ninety (90) days' notice to Service Provider.
13.2 Effect of Termination. Upon the termination of this
Agreement pursuant to Section 13.1, Recipient shall pay to Service Provider, no
later than the effective date of such
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termination, the balance of the Fees due for the Term, together with any
incremental costs related to such termination.
ARTICLE 14. TERMINATION ASSISTANCE SERVICES.
Upon the expiration of this Agreement or the effective date of termination of
this Agreement, Service Provider shall have no further obligation to provide the
Services to Recipient and for a period up to (a) sixty (60) days prior to the
expiration or the effective date of termination of this Agreement and (b) thirty
(30) days following the expiration of this Agreement or the effective date of
termination of this Agreement, Service Provider shall use reasonable efforts to
cooperate, at Recipient's expense (which shall not be greater than Service
Provider's costs related thereto), with (i) the Alternative Provider or (ii)
Recipient, in connection with the transfer of the Services and the Recipient
Data, from Service Provider to the facilities of (x) the Alternative Provider or
(y) Recipient, as requested by Recipient.
ARTICLE 15. MISCELLANEOUS PROVISIONS.
15.1 No Waivers. No failure on the part of either Party to
exercise and no delay in exercising any right or remedy hereunder shall operate
as a waiver thereof nor shall any single or partial exercise by a Party of any
right or remedy hereunder preclude any other right or remedy or further exercise
thereof or the exercise of any other right.
15.2 Consents, Approvals and Requests. Unless otherwise
specified in this Agreement, all consents and approvals, acceptances or similar
actions to be given by either Party under this Agreement shall not be
unreasonably withheld or delayed and each Party shall make only reasonable
requests under this Agreement.
15.3 Partial Invalidity. In the event any of the provisions of
this Agreement shall be invalid, illegal or unenforceable in any respect, the
validity, legality or enforceability of the remaining provisions of this
Agreement shall not be affected or impaired.
15.4 Notices. All notices, designations, approvals, consents,
requests, acceptances, rejections or other communications required or permitted
by this Agreement shall be in writing and shall be sent via telecopy to the
telecopy number specified below. A copy of any such notice shall also be sent by
registered express air mail on the date such notice is transmitted by telecopy
to the address specified below:
If to Service Provider:
The Dun & Bradstreet Corporation
Xxx Xxxxxxx Xxxx Xxxx
Xxxxxx Xxxx, Xxx Xxxxxx 00000
Telecopy No.: (000) 000-0000
Attention: Chief Legal Counsel
If to Recipient:
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X.X. Xxxxxxxxx Corporation
Xxx Xxxxxxxxxxxxxx Xxxx
Xxxxxxxx, Xxx Xxxx 00000
Telecopy No.: (000) 000-0000
Attention: Chief Legal Counsel
Any Party may at any time, by notice to the other Party transmitted or sent in
the manner described above, change the address or telecopy number to which
communications to it are to be sent.
IN WITNESS WHEREOF, the Parties hereto have caused this
Agreement to be executed by their duly authorized officers as of the day and
year first above written.
15.5 Relationship. The performance by Service Provider of its
duties and obligations under this Agreement shall be that of an independent
contractor and nothing herein contained shall create or imply an agency
relationship between the Parties, nor shall this Agreement be deemed to
constitute a joint venture or partnership between the Parties. THE NEW DUN &
BRADSTREET CORPORATION.
15.6 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK.
15.7 Covenant of Further Assurances. The Parties covenant and
agree that, subsequent to the execution and delivery of this Agreement and
without any additional consideration, each of the Parties will execute and
deliver any further legal instruments and perform any acts which are or may
become reasonably necessary to effectuate this Agreement.
15.8 Assignment. This Agreement may not be assigned by
either Party, other than to an affiliate of such Party or pursuant to a
corporate reorganization or merger, without the consent of the other Party. Any
assignment in contravention of this Section 15.8 shall be void.
15.9 Entire Understanding. This Agreement represents the
entire understanding of the Parties with respect to the Services and supersedes
all previous writings, correspondence and memoranda with respect thereto, and no
representations, warranties, agreements or covenants, express or implied, of any
kind or character whatsoever with respect to such subject matter have been made
by either Party to the other, except as herein expressly set forth.
15.10 Successors. Subject to the restrictions on assignment
set forth in Section 15.8, this Agreement shall be binding upon and inure to the
benefit of and be enforceable against the Parties hereto and their respective
successors and assigns.
15.11 Amendments. This Agreement can be modified or amended
only by a written amendment executed by both Parties.
15.12 Survival. The provisions of Article 5, Article 8,
Article 9, Article 10, Article 11, Article 14, Section 6.2, Section 6.3, Section
7.2, Section 13.2, Section 15.6, this Section 15.12 and Section 15.14 shall
survive the expiration or termination of this Agreement.
15.13 Counterparts. This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.
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15.14 Good Faith and Fair Dealing. Each Party hereby agrees that its
performance of all obligations and exercise of all rights under this Agreement
shall be governed by the fundamental principles of good faith and fair dealing.
15.15 Third Party Beneficiaries. Each Party intends that this
Agreement shall not benefit or create any right or cause of action in or on
behalf of any person or entity other than Recipient and Service Provider.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to
be executed by their duly authorized officers as of the day and year first above
written.
THE NEW DUN & BRADSTREET
CORPORATION
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: Chairman and Chief
Executive Officer
THE DUN & BRADSTREET CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Senior Vice President
