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