Cooperation agreement
Exhibit
10.12
Naberezhniye
ChelnyAugust 24, 2007
The
State Pedagogical Institute of Naberezhniye Chelny of the Ministry of Education
and Science of the Russian Federation (later referred to as NSPI) in the person
of the xxxxxx Mustafina fz.
, acting on the authority of the 11 Article. ot A
sc,vafk’4on
the one side,
The
Non-profit Educational Organization “ZNANIYE-CENTRE Study Group” (Moscow), in
the person of the director Xxxxxxxxx Xxxxxx Moiseevich, acting on the authority
of Articles of Association, on the other side,
Vemics
Inc. (USA) in. the person of the President Xxxxx Xxxxxxxxxx, acting on the
authority of the Decision of Vemics Inc. Board of Directors, on the third side,
all referred to as “Parties” concluded the present agreement as
follows:
1.
The Subject of the Agreement
The
subject of the agreement is the following:
1.1.
Cooperation. of the Parties in the scope of inquiry of the most effective
spheres of usage and maintenance of Vemics Live Access Internet Solution in the
academic activity of the NSPI;
1.2.
Cooperation of the Parties in the sphere of organization of distance
teaching/learning of the English language both in the course of Global Business
English and TOEFL exam preparation course.
1.3. Cooperation of the
Parties in the scope of inquiry of possibilities of English-language based
teaching of economical subjects and accounting.
2.
The conditions of the Agreement
2.1.
The Parties agreed to the following terms of the Agreement:
• To
cooperate on the basis of equality, honest partnership and protection of each
other’s interests; not to commit the actions to the prejudice of each of the
Party.
• To
inform each other about the measures of the public character, which affect the
interests of the Parties.
• To
observe the conditions of the Agreement and to render each other assistance
under its realization.
2.2.
The Parties agreed that the concrete steps towards realization of the Subject of
the present Agreement should be determined by means of working out and signing
of a separate contract, each touching upon every point of the Subject of the
present Agreement.
3.
Special conditions
The
present Agreement comes into force from the moment of its signing by all Parties
and is automatically prolonged for the next year if none of the Parties declares
its cancellation. The present Agreement can be cancelled as agreed by
the Parties. The Party can break the Agreement, if it notifies the other Parties
in the written form not later than in one month before
cancellation.
The
Agreement is made in three copies in Russian and three copies in English
languages, one copy in Russian and one copy in English for each
Party.
I
Addresses
and signatures of the Parties
The
State PedägogiôtllIjtfl4e of Naberezhniye Chelny
LegEl&lMsj.
Mustafma R
Z.
“ZNANIYE-ENTRE
Study Group” Xxxxxxxxx xx., xxxxx xx. 00
S.M.
