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EXHIBIT 10.56
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MYWEB XXX.XXX (MYWB)
TECNOCHANNEL TECHNOLOGIES SDN. BHD. (425318-M)
Block G Unit G606, Phileo Damansara 1.
Xx. 0 Xxxxx 00/00, Xxx Xxxxx Xxxxxxxxx,
00000 Xxxxxxxx Jaya.
Tel: 00-000 0000 - Fax: 00-000 0000
Website: xxx.xxxxx.xxx.xx
SERVICE AGREEMENT
BETWEEN:
TECNOCHANNEL TECHNOLOGIES SDN BHD
Xxxxx X Xxxx X X000 / 000
Xxxxxx Damansara 1
No 9 Xxxxx 00/00
Xxx Xxxxx Xxxxxxxxx
00000 Xxxxxxxx Xxxx
hereinafter referred as "TecnoChannel"
AND
CORPCOM SERVICES SDN BHD (340200-A)
179, Xxxxx Xxxx'Xxxxxxxx 0
Xxxxx Xxx Xx. Xxxxxx
00000 Xxxxx Xxxxxx
hereinafter referred to as "Corpcom"
WHEREAS
The parties hereby agree that TecnoChannel shall be appointed by Corpcom to
develop and maintain the website on the Internet located at xxx.xxx0xxx.xxx
("the Website").
WHEREBY THE PARTIES AGREE as follows:-
1. TERM OF AGREEMENT
The term of this agreement shall commence on November 25, 1999 for the
period of 6 (six) months. This Agreement shall be deemed to continue to
be in force on a yearly basis unless either party gives to the party
not less than 20 days notice of termination in writing.
2. CONDITION PRECEDENT
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TecnoChannel hereby represents to have obtained and to be in possession
of all Government approvals, licenses and permits required for
TecnoChannel to carry out its functions and obligations as set forth in
this Agreement and that the said licenses and approvals continue to be
existing and valid during the continuance of this Agreement.
3. SERVICE OBLIGATIONS BY TECNOCHANNEL
TecnoChannel shall:
a. create and ensure that the Website is updated from time to
time with the latest information and contribution from M4M in
respect of the website content;
b. record and administer all responses from the readers and
customers, which will form a database ("the Members
Database"). The ownership and copyright of the Members
Database shall belong jointly to CORPCOM and TECNOCHANNEL;
c. furnish to Corpcom the Members Database whenever requested by
Corpcom.
d. Corpcom shall have full copyright of the website and its
domain name. (xxx.xxx0xxx.xxx)
4. SERVICE OBLIGATION BY CORPCOM
Corpcom shall:
a. Allow a MyWeb banner space to appear on a number of pages in
the website that is mutually agreed by both parties.
b. Incorporate the website into their Advertising and Promotion
campaign.
c. Contribute articles from the website as content for the MyWeb
portal website at an interval mutually agreed by both parties
([***] articles per week).
5. PRICE
a. The total cost of the development and of updating the website
will be [***] TecnoChannel.
[***] Portions of this page have been omitted pursuant to a request for
Confidential Treatment and filed separately with the Commission.
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b. In return for the development, hosting and maintenance of the
website, Corpcom will provide to Technochannel, articles to be
used as content for MyWeb at an interval mutually agreed by
both parties ([***] articles per week). Corpcom still retains
full copyright over the articles.
6. AGENT/REPRESENTATIVE
It is specifically understood and agreed that this Agreement does not
constitute TecnoChannel as the agent or legal representative of the
Corpcom for any purpose whatsoever. Accordingly, TecnoChannel has no
authority to assume or to create any obligation on behalf of or in the
name of the Website (xxx.xxx0xxx.xxx).
7. TERMINATION
Either parties may terminate this Agreement by giving the other party 20
days notice in writing.
8. NON-ASSIGNABILITY
TecnoChannel shall not assign or sub-contract any rights or obligations
under this Agreement in whole or in part to any third party without
prior consent from Corpcom.
9. BINDING ON SUCCESSORS
This Agreement shall be binding on the successors in title and the
permitted assigns of the Parties hereto.
In witness whereof the parties hereto set their hands the day and above written.
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[***] Portions of this page have been omitted pursuant to a request for
Confidential Treatment and filed separately with the Commission.
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Signed by: /s/
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Company's chop: Corpcom Services Sdn. Bhd.
(Company No. 340200-A)
000, Xxxxx Xxxx Xxxxxxxx 0
X.X. Xxx 0000
Xxxxx Tun Xx. Xxxxxx
60000 Kuala Lumpur
Malaysia
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In presence of:
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Signed by: /s/
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For and behalf of: TECNOCHANNEL TECHNOLOGIES SDN BHD
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Company's chop: TecnoChannel Tecnologies Sdn Bhd
(Company Xx. 000000-X)
Xxxxx X Xxxx X000
Phileo Damansara 1
Xx. 0 Xxxxx 00/00
Xxx Xxxxx Xxxxxxxxx
00000 Xxxxxxxx Jaya
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In the presence of: /s/ XXXXXXX DEV. A/P LAYANDRAN
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(XXXXXXX DEV. A/P LAYANDRAN)
