Intellectual Property License Agreement between Befut Electric (Dalian) Co., Ltd. and Dalian Befut Wire & Cable Manufacturing Co., Ltd. Dated February 16, 2009
between
Befut
Electric (Dalian) Co., Ltd.
and
Dalian
Befut Wire & Cable Manufacturing Co., Ltd.
Dated
February 16, 2009
Intellectual
Property License
Agreement
This
Intellectual Property License Agreement (“Agreement”) is made as
February 16, 2009 in Dalian by and between
Dalian
Befut Wire & Cable Manufacturing Co., Ltd.
Principal
place of business: 00-0 Xxxxxx Xxxxxx, Xxxxxx Xxxxxxxx, Dalian
Legal
representative: Xxxxxx Xxx
hereinafter
referred to as “Party A”,
and
Befut
Electric (Dalian) Co., Ltd.
Principal
place of business: Lingang Industrial District of Changxing Island,
Dalian
Legal
representative: Xxxxxx Xxx
hereinafter
referred to as “Party B”.
Party A
and Party B are referred to individually as a “Party” and collectively as the
“Parties”.
Whereas:
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1.
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Party
A is a limited liability company that is duly incorporated and validly
existing under the laws of the People’s Republic of China (“China”) and the owner of
intellectual property and all proprietary rights and interests thereto
stated in Section 1.1 of this
Agreement.
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2.
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Party
B is a wholly foreign owned enterprise that is duly incorporated and
validly existing under the laws of the People’s Republic of
China.
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3.
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Party
B desires to obtain and Party A agrees to grant the license to use the
intellectual property stated in Section 1.1 of this Agreement under the
terms and conditions set forth
herein.
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1
NOW,
THEREFORE, the parties agree as follows:
1.
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Grant
of License
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1.1
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Party
A agrees to grant to Party B the license to use, during the terms of this
Agreement and under the terms and conditions set forth herein, the
intellectual property owned by Party A (“Licensed Intellectual
Property”, including trademarks (“Licensed Trademark”) and
technologies (“Licensed
Technology”)) and Party B agrees to use such Licensed Trademark and
Licensed Technology under the terms and conditions set forth herein. The
detailed list of Licensed Trademark and Licensed Technology is provided in
Annex I attached hereto.
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1.2
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Party
B agrees that such Licensed Intellectual Property shall be only used in
Party B’s business activities with respect to manufacture and sales of
wires and cables, including publicity and promotion of Licensed
Intellectual Property through printed literature, broadcast, television,
newspaper, magazine, internet or other media. Party B shall not use
Licensed Intellectual Property directly or indirectly for any other
purpose without Party A’s prior written
consent.
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1.3
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Unless
otherwise permitted by Party B, Party A shall not grant to any other party
the license to use Licensed Intellectual Property after this Agreement is
executed.
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1.4
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The
license for Licensed Intellectual Property under this Agreement shall come
into force from the date of signature and remain effective unless and
until terminated by Party B by a notice of
termination.
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2.
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Licensing
Fees
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2.1
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Party
B agrees to pay a sum of licensing fees on a yearly basis to Party A for
the use of Licensed Intellectual Property as agreed separately between the
parties hereto.
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2.2
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Party
B shall remit the said licensing fees for the previous year to a bank
account designated by Party A before the first day of January each year
during the term of this Agreement.
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3.
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Registration
of Licensed Intellectual Property
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3.1
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It’s
acknowledged that if any Licensed Trademark is a registered trademark or
is in the process of registration, and/or any Licensed Technology is
a patented technology or a patent-pending technology, the
license of such trademark or technology shall be registered and filed with
national trademark and/or patent administration authorities
and such Licensed Trademark and Licensed Technology will be
maintained valid and effective during the term of this Agreement. The
parties shall coordinate the actions with respect to this
issue.
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2
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3.2
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If
this Agreement is terminated for any reason, the parties hereto shall
effect changes in registration with the above-mentioned trademark and/or
patent administration authorities.
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4.
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Confidentiality
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4.1
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The
parties undertake to take reasonable measures to keep all confidential
information (“Confidential
Information”) obtained by, disclosed to or made available to either
Party from the other Party under this Agreement except for the information
available in or obtained from the public domain. The receiving party
should not use such confidential information for any purpose other than
that of this Agreement nor disclose, provide or transfer such confidential
information to any third party without the disclosing party’s prior
written consent.
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4.2
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Upon
termination of this Agreement, documents, materials or software containing
any confidential information of the disclosing party shall be disposed in
accordance with the disclosing party’s instructions and deleted from all
memory devices to prevent further use of such confidential
information.
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4.3
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It’s
agreed that the provisions of Section 4 will survive any modification,
cancellation or termination of this
Agreement.
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5.
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Representations
and Warrants
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5.1
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Party
A’s representations and warrants
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5.1.1
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Party
A is a limited liability company that is duly incorporated and validly
existing under the laws of the People’s Republic of China having the full
capacity to execute and perform this
Agreement;
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5.1.2
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In
addition to otherwise mentioned above, Party A owns exclusively all
Licensed Intellectual Property stated in Section 1.1 of this Agreement
which is clear of all mortgages, pledges, security interests or
restrictions of any nature
whatsoever;
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5.1.3
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The
execution, delivery and performance of this Agreement will not result in
any violation by Party A of any law of the People’s Republic of China; or
any conflict with any provision of Party A’s Articles of Association or
other comparable corporate charter documents; or any breach by Party A of
any agreement or commitment by which Party A is
bound;
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5.1.4
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There
is no legal proceeding, arbitration or administrative procedures pending
or threatened with respect to Party A's ownership of Licensed Intellectual
Property;
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3
5.1.5
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Party
A has the full right, power and authority to execute, deliver and perform
this Agreement and this Agreement, once executed, will constitute valid,
effective and binding obligations of Party A which can be enforced in
accordance with the terms and conditions set forth
herein.
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5.2
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Party
B’s representations and warrants
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5.2.1
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Party
B is a wholly foreign owned enterprise that is duly incorporated and
validly existing under the laws of the People’s Republic of
China having the full capacity to execute and perform this
Agreement;
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5.2.2
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Party
B has the full right, power and authority to execute, deliver and perform
this Agreement and this Agreement, once executed, will constitute valid,
effective and binding obligations of Party B which can be enforced in
accordance with the terms and conditions set forth
herein.
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6.
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Protection
of Party A’s Rights
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In
addition to Party B’s commitments or obligations mentioned in other provisions
of this Agreement, Party B warrants to protect Party A’s rights as
follows:
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6.1
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Party
B undertakes not to infringe in any way the ownership of Licensed
Intellectual Property or any other rights and interests
thereto.
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6.2
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Party
B undertakes to provide Party A with necessary assistance in protecting
Party A’s rights in Licensed Intellectual Property; Party A can defend in
the name of Party A, Party B or the parties any third party’s claim for
compensations or rights with respect to the ownership of Licensed
Intellectual Property; and Party B should notify Party A of any
infringement of Licensed Intellectual Property by any third party coming
to Party B’s knowledge immediately in writing. Party A may in its sole
discretion determine whether to take actions in response to such
infringement.
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6.3
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Party
B undertakes to use Licensed Intellectual Property under the terms and
conditions set forth herein and not to use Licensed Intellectual Property
in any manner that is deceptive, misleading or otherwise to the prejudice
of Licensed Intellectual Property or Party A’s
reputation.
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6.4
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Party
B undertakes not to bring up opposition in any place in the world to any
right that Party A is entitled to with respect to Licensed Intellectual
Property.
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6.5
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Party
B shall not assign, lease, encumber or sublicense Licensed Intellectual
Property or rights or obligations hereunder to any third party without
Party A’s prior written consent.
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6.6
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Party
B shall strictly comply with Party A’s instructions on production and/or
use of Licensed Intellectual
Property.
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4
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6.7
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Party
A shall have the right to supervise the quality of Party B’s products or
services using Licensed Intellectual
Property.
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7.
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Commencement
and Termination
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7.1
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In
the event of either party’s material breach of this Agreement and failure
to take remedial measures to cure such breach within [30] days after the
receipt of the non-breaching party’s written notice in this regard, the
non-breaching party shall have the right to terminate this Agreement with
a written notice effective upon the receipt of such notice by the
breaching party. Such termination shall be made without prejudice to the
rights or remedies available to either party by law or
otherwise.
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7.2
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Notwithstanding
anything to the contrary herein, Party B shall have the right to terminate
this Agreement before the expiry of the term of this Agreement and, in
this case, Party B should not be held liable for compensating Party A for
such early termination unless Party B is found in material breach of its
obligations hereunder.
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8.
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Governing
Law and Dispute Settlement
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8.1
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This
Agreement shall be concluded, effected, construed and performed and any
dispute arising from or in connection with this Agreement shall be settled
in accordance with the laws of the People's Republic of
China.
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8.2
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Any
disputes arising from construal or performance of this Agreement shall be
resolved by the parties hereto through consultation. If the dispute cannot
be settled in the aforesaid manner within [30] days after receipt by
either party of the written notice proposing such consultation from the
other party, either Party shall have the right to submit the dispute to
the China International Economic Trade Arbitration Commission for
arbitration in accordance with the Commission's arbitration rules then
effective at the time of the submission of the arbitration. The place of
arbitration shall be Beijing. The arbitration award shall be final and
binding upon both parties.
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9.
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Notice
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Notices
and communications required to be given by any Party pursuant to this Agreement
may be made in Chinese and delivered in person, by mail or fax to the address of
the other Party listed below or such other address as may be designated from
time to time by the other Party and shall be deemed as duly given (a) on the
date of personal delivery; (b) on the [tenth] day after the date it is sent
(postmark serves as a proof) by registered airmail, postage prepaid or on the
[fourth] day after the date on which it is sent through an internationally
recognized courier service; and (c) at the time the facsimile transmission is
confirmed by the transmission report generated by the sender’s facsimile
machine.
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Party A:
Dalian Befut Wire & Cable Manufacturing Co., Ltd.
Address:
Fax:
Tel:
Contact
person: Xxxxxx Xxx
Befut
Electric (Dalian)Co., Ltd.
Address:
Lingang Industrial District of Changxing Island, Dalian
Fax:
Tel:
Contact
person: Xxxxxxx Xx
10.
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Miscellaneous
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10.1
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Any
annex attached hereto shall form an integral part of this Agreement that
is equally effective and binding.
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10.2
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In
the event that any provision of this Agreement shall be determined by
a court of competent jurisdiction to be invalid or unenforceable to any
extent, it’s only invalid or unenforceable under the jurisdiction of
related laws and the remaining provisions of this Agreement other than
those determined as invalid or unenforceable, shall not be affected
thereby and shall be valid and enforceable to the fullest extent permitted
by law.
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10.3
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Any
amendment or supplement to this Agreement may be made only pursuant to a
written agreement entered into by and between the parties hereto. Any
amendment or supplementary agreement executed by the authorized
representatives of the parties hereto shall form an integral part of this
Agreement that is equally effective and
binding.
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10.4
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This
Agreement and the Annex attached hereto constitute the entire agreement,
and supersede all previous oral and written agreements, contracts,
understandings and communications of the parties with respect to the
subject matter set forth herein.
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10.5
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This
Agreement shall become effective upon execution by the authorized
representatives of the parties hereto and remain effective unless
otherwise terminated as stipulated herein. The parties hereto shall not
terminate or cancel this Agreement within 180 days after the day of
signature, nor alter or modify the provisions of this
Section.
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10.6
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This
Agreement is made in Chinese in two counterparts, each party holding
one.
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(The next
page is the signature page of the Intellectual Property License
Agreement)
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(This is
the signature page of the Intellectual Property License Agreement)
Party
A: Dalian Befut Wire & Cable Manufacturing Co., Ltd.
Authorized
Representative: Xxxxxx Xxx
Date:
February 16, 2009
Party
B: Befut Electric (Dalian)Co., Ltd.
Authorized
Representative: Xxxxxxx Xx
Date:
February 16, 2009
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Annex
I: List of Intellectual Property Rights
I.
Trademark
“SAN
YUAN”, a registered trademark.
II.
Technology
Intelligent
reactive power compensation for automatic screen
Automatic
Protection Ni-mh Battery Screen
Mine
fire-retardant rubber branch of the pre-cable
New
tide-proof power cable
Sonar
watertight cable
Environmentally
friendly wire & cable of low-smoke, halogen-free, fire-retardant
insulation
High-temperature
plastic extrusion die-tool
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