This Agreement is entered into and effective as of July 14, 2008 by and between Gen2Media Corporation (Gen2) and Media Evolutions, Inc. (MEV).
Exhibit
10.3
This Agreement is entered
into and effective as of July 14, 2008 by and between Gen2Media Corporation
(Gen2) and Media Evolutions, Inc.
(MEV).
1. Gen2
is a digital media company, and MEV is a production company. The
companies have common ownership, in that the owners of MEV are also shareholders
and officers of Gen2. Gen2 is a new public company, and to avoid any
potential conflicts of interest or other similar issues, the parties have agreed
to enter into this management agreement.
2. Effective
July 14, 2008, Gen2 shall manage 100% of the business and financial operations
of MEV, and all revenue and profit generated from MEV operations shall flow into
Gen2 as management fees, and Gen2 shall pay all bills, including all equipment
leases, credit line payments or other bills of MEV.
3. Gen2
shall provide office and studio rental free of charge, personnel and all other
expenses directly for all MEV projects, and shall retain, as management fees,
all profit resulting from products or services sold by MEV. Gen2
shall maintain a set of books under a management account, on behalf of
MEV.
4. This
Agreement shall be governed under Florida Law, and shall be binding upon the
parties as of the date hereof.
| Gen2Media Corp. | Media Evolutions, Inc. | ||||
| By: |
/s/
|
By: |
/s/
|
||
|
Xxxx
Spio, President
|
Xxx XxXxxxxx, President | ||||
