EXHIBIT 10.22
Money Journal was published pursuant to this agreement previously but this
agreement is no longer used for publication of Money Journal.
Translation
CONTRACT
Party A: Guangzhou Jingyu Culture Development Co., Ltd.
Party B: Beijing Qiannuo Advertising Co., Ltd.
Through amicable negotiation on the basis of equality and mutual benefit,
the parties have reached the following agreement in connection with cooperation
on Weekend Arts:
I. Party A's Responsibilities, Obligations and Rights
1. Authorized by Zhou Mo Xxx Xxx, Party A entrusts Party B to coordinate
and support the preliminary collection, editing and proofreading of
the contents in each issue of publications (with a total of 24 issues
a year, supplements excluded) of Zhou Mo Xxx Xxx within the contract
term; entrusts Party B to carry out printing and production of the
contents, formats, and covers of the aforesaid publications; and
authorizes Party B to autonomously carry out the printing, issuing and
advertising businesses of each publication of Zhou Mo Xxx Xxx within
the contract term in the precondition that Party B complies with state
policies and statutes and undertakes all related economic, social and
legal obligations thereof.
2. Party A shall provide corresponding documents for printing and issuing
Zhou Mo Xxx Xxx within the contract term.
II. Party B's Responsibilities, Obligations and Rights
1. Zhou Mo Xxx Xxx is entitled to rights of final review, final
amendments and final revisions of all articles (four-cover, format,
advertisement, copyright recording included). Party B shall send the
review letter enclosed in the email to Zhou Mo Xxx Xxx (letter sample
shall be sent by express mail afterwards), and Party B should respect
Zhou Mo Xxx Xxx' opinions on supplement or deletion of articles,
editing and amendments to articles. Zhou Mo Xxx Xxx shall finish the
final review within one day after receiving the email of all articles
and fax the signed review letter to Party B for confirmation. Without
the examination by Zhou Mo Xxx Xxx, articles are forbidden to be
delivered for printing. Otherwise the contract shall be terminated and
Party B shall be
held liable to all the consequences. The articles submitted to Zhou Mo
Xxx Xxx for final examination should meet the state publishing
standards completely, with the word error rate not exceeding one
ten-thousandth.
2. Party B has the right to autonomously carry out various kinds of work
entrusted or authorized by Zhou Mo Xxx Xxx. Party B shall bear all the
expenditures for equipment, places, materials (office utilities,
computer consumables, printing paper etc.), labor cost (contribution
fee, design fee, staff salary, bonus, and welfare, pre-print
production ) and printing to carry out the work, and undertake all the
economic, social and legal obligations concerning the taxation of
various jobs and businesses and the disputable problems including
settlement of copyright, advertisement, taxation, trademark right that
might arise. Party B's work shall comply with the state policies and
laws of China, and author remuneration shall be timely paid according
to state standard.
3. From October 2005 to December 2005, Party B will pay Party A the
expenses of RMB twenty four thousand even (RMB24,000) for final
review, editing and proofreading work, and expenses of RMB one hundred
and twenty-five thousand even (125,000) for production, operation and
development work. The aforesaid sum shall be paid once and for all
prior to September 10, 2005.
From Year 2006 to Year 2020, Party B shall pay RMB ninety-six thousand
even (RMB 96,000) to Party A for final review, editing, and
proofreading work each year.
From Year 2006 to Year 2010, Party B shall pay RMB five hundred
thousand even (RMB 500,000) to Party A for production, operation and
development work each year.
From Year 2011 to Year 2015, Party B shall pay RMB five hundred and
sixty thousand even (RMB 560,000) to Party A for production, operation
and development work each year.
From Year 2016 to Year 2020, Party B shall pay RMB six hundred
thousand even (RMB 600,000) to Party A for production, operation and
development wrok each year.
The above-mentioned expenses for final review, editing, and
proofreading, and production, operation and development work for each
year shall be paid off in two equal installments on December 1st of
previous year and June 1st of that year, i.e. each installment
accounts for 50% of the total sum for the year. As Zhou Mo Xxx Xxx is
concerned, from the date the contract comes into force, all the profit
generated from the operation by Party B, except for the agreed
sum to be turned in to Party A, shall belong to Party B; in case of
deficit occurred within the contract term, all the deficit shall be
shouldered by Party B, while the payments to Party A shall be fully
paid on schedule.
4. Party B shall offer 100 samples of each issue of Zhou Mo Xxx Xxx to
Zhou Mo Xxx Xxx and should deliver them from Guangzhou to Yinchuan
within 3 days from the date of printing completion with postages
covered by Party B.
5. Party B is not allowed to carry out any other production and operation
activities related to Zhou Mo Xxx Xxx without permission of Zhou Mo
Xxx Xxx.
III. Cooperation Term: From October 2005 to December 2020.
IV. Contract Modification, Liability for Breach of Contract and Dispute
Settlement
1. Both parties should reach common ground regarding the amendments,
modification or cancellation of contract, and should reach a written
resolution.
2. Within the cooperation term, in the case that this contract cannot be
completely fulfilled due to breach by either party, the breaching
party should inform the breached party in writing six months in
advance, so that the breached party can look for a new partner and
cooperation mode.
V. This Contract is made in duplicate. The contract shall come into force upon
the signatures and seals affixed by both parties.
Party A: Guangzhou Jingyu Culture Development Co., Ltd. [Company chop of
Guangzhou Jingyu Culture Development Co., Ltd.]
/s/
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Date: September 25, 2005
Party B: Beijing Qiannuo Advertising Co., Ltd.
/s/ Fan Cho Tak Alex
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Date:
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