Exhibit 10.26
ENGLISH LANGUAGE SUMMARY OF EDUCATIONAL EQUIPMENT SUPPLY AGREEMENT
DATE OF AGREEMENT: 10/30/2003
PARTIES: Haicheng (Shanghai) Information Technologies Co., Ltd. (Party A)
and Kid Castle Educational Software Development Co., Ltd. (Party B)
AGREEMENT: Party A to provide computers, including hardware, systems and
application software, with the best prices, to Party B for Party B's promotion
of informational education to children in China.
Party A is responsible for the supply, installation of the computers required
herein and the after sale maintenance.
Party B is responsible for the collection of purchase orders for the computers.
DESCRIPTION OF THE AGREEMENT: Party A shall provide and set up the basic
equipments, including: ten (10) computer systems, one (1) hub switch with
sixteen (16) connections, one (1) Internet wiring (with eleven (11) construction
points), one (1) Internet management system, and one (1) digital multimedia
education hardware system. Any additional hardware equipments and application
software needed should be discussed and decided by both parties. Total price for
the basic equipment is 27,980 RMB.
Details of the equipments of this article shall be confirmed by both parties by
November 5, 2003 and listed as one of the attachment I hereto.
Unless otherwise regulated, the purchase amount of equipments shall be in
accordance with the amount stated in the purchase orders. Information stated in
the attachment I hereto may be adjusted by both parties in writing in accordance
with the change of the market situation. Quotation of relevant products shall be
adjusted once every half year.
Exhibit 10.26
ORDERS: Party B shall collect the clients' needs and then place the orders
together to Party A. When Party B places the order to Party A, Party B shall
describe the necessary items, including price, amount, total amount, date and
the places for installation. Form of the order shall be provided by Party A and
confirmed by Party B and will be the attachment II hereto.
FIRST ORDER: Both parties agree that the purchase amount of the first order will
be tentatively 300 sets of computer systems and all of which shall be delivered
before 06/30/2004. The exact order amount will be in accordance with the
purchase order from Party B.
Both parties shall confirm the content stated in the attachment I hereto by
November 5, 2003. Party A shall deliver the products in accordance with Party
B's purchase order by November 15, 2003 and finish the installation thereof by
November 25, 2003.
PACKAGE AND SHIPMENT: Party A shall pack the equipments stated herein in
accordance with packaging standard. The cost of first shipping to the place
designated by Party B shall be borne by Party B. The price stated in this
agreement includes shipping cost. Cost of any additional delivery caused by
reason attributable to Party B shall be borne by Party B
DELIVERY: Both parties agree that Party A shall deliver the equipments as
ordered to the places designated by Party B within 10 days after the date Party
B places the purchase order. Party A shall finish installation and testing
within 3 days after the equipments being delivered to the designated places.
FORM OF PAYMENT: Party B shall pay through the appointed credit bank to Party A
through two installments. Party B shall pay 10% of the total payments in the
first installment, and the remaining total be paid in full on the second
installment in seven (7) working days after the system evaluation.
MAINTENANCE: Both parties agree that Party A shall provide one-year free
maintenance service after the evaluation of the equipments. Damages caused by
the act of god shall be fixed by Party A.
Exhibit 10.26
USE OF SOFTWARE: Party B may use the software only for the purpose of this
project and may not provide the software to others to use. Except for certain
circumstances, Party B may not copy any part of the software.
USE OF EDUCATIONAL SOFTWARE: Party A may apply the Kidcastle children
informational educational software provided by Party B only to the systems under
this project and may install such educational software only into the equipments
of this project.
Except for certain circumstances, Party A may not copy any part of such
educational software. Unless agreed by Party B in writing in advance, Party A
may not sell, transfer or permit others to use the software of this project or
infringe Party B's intellectual property rights in any other way.
TERM: This agreement shall be effective from the execution date hereof and until
the date of which the duties hereunder have been done.
PERSON SIGNING THE AGREEMENT: Party A: X, Party B: Wang, Kuo An
