SERVICE AGREEMENTService Agreement • March 23rd, 2016 • KinerjaPay Corp. • Semiconductors & related devices
THIS SERVICES AGREEMENT (the “Agreement”), dated as of this 19th day of February, 2016, is by and between KinerjaPay Corp., organized under the laws of the State of Delaware (the "Company"), and a wholly-owned subsidiary being newly organized under the laws of Indonesia and to be named PT. KinerjaPay Indonesia (the "Subsidiary"), on the one hand, and PT. Kinerja Indonesia, organized under the laws of Indonesia (the "Service Company"), on the other hand. The Company, the Subsidiary and the Service Company are sometimes referred to individually, as a "Party" and collectively, as the "Parties." WHEREAS, on December 1, 2015, the Company entered into a license agreement (the "License Agreement") with the Service Company for an exclusive, world-wide license (the "License") to use and commercially exploit certain technology and intellectual property (the "KinerjaPay IP") and its website, KinerjaPay.com; and WHEREAS, in connection with the License Agreement, the Company agreed to impleme
