PARTNERSHIP AGREEMENT
This Partnership Agreement (“Agreement”) is made and entered into as of 1 January 2015 (the “Effective Date”), by and between Cheil (Thailand) Ltd., a company organized and existing under the laws of Thailand with its principal office at 1 Empire Tower, 42nd FL., South Sathorn Rd., Yannawa, Sathorn, Bangkok 10120 Thailand (“CT”), and Dentsu Media (Thailand) Ltd. A company organized and existing under the laws of Thailand with its principal office at U Chu Liang Building, 15th Floor, Zone B, 968 Rama4 Rd., Silom, Bangrak, Bangkok 10500, Thailand (“Dentsu Media”). CT and Dentsu Media are individually referred to as a “Party” and collectively referred to as the “Parties.”
WITNESSETH:
WHEREAS, Dentsu Media is engaged in the business of the Media Agency.
WHEREAS, CT wishes to employ Dentsu Media for providing Media Agency.
WHEREAS, Dentsu Media and CT wish to enter into a business relationship pursuant to the terms and conditions provided in this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties agree as follows:
1. PURPOSE
Pursuant to the terms and conditions of this Agreement, Dentsu Media shall provide and perform services such as Online Publisher, Ad Media & Content Production and CT shall provide Dentsu Media with monetary compensations for such services.
2. SPECIFICATIONS OF SERVICES
Media Agency.
3. TERM
3.1 This Agreement is valid for 2015 and The term of this contract shall
commence on 1 January 2015 and shall continue in full force and effect until terminated by either party upon at least 60 days prior written notice, provided that in no event (except in breach pursuant to clause 8) may this Agreement be terminated prior to 31 December 2015. The rights, duties and obligations of the parties shall continue in full force during or following the period of the termination notice until termination, including the ordering and billing of advertising in media whose closing dates follow then such period.
4. OBLIGATIONS OF VENDOR
4.1 Dentsu Media shall be solely responsible to carry out all necessary procedures with the municipality, any competent agencies or authorities and relevant bodies to obtain any and all necessary approval(s), license(s) and permit(s) (collectively referred to as “Approval”) required for display, Modification (defined below), replacement, maintenance of the Services, and shall be fully responsible for compliance with all relevant rules of Government and all relevant laws, regulations and contracts applicable to it in connection with this Agreement and its performance hereunder, including without limitation providing and in relation to its Services. CT shall not be responsible for any costs and expenses incurred by Dentsu Media for obtaining any Approval.
4.2 Dentsu Media shall coordinate with CT in resolving any disputes by or between CT and any Government or any third party arising out of or in relation to the services or execution or performance of this Agreement.
5. PAYMENT TERM
Payments shall be made to Dentsu Media within 60 days after CT receives Dentsu Media’s invoice with proper proof of provided services. The payment is to be made either via bank transfer or cheque as per CT arrangement.
Account Details
Type: Saving
Bank: SCB
Account Number: 247-221799-2
6. OTHER SERVICES
Media Agency.
7. COMPETITION
Dentsu Media shall disclose the products/brands they are working with currently and in the past 1-year period in Thailand and Indochina markets (Myanmar, Laos and Cambodia). CT shall determine whether they are competitive with any product or service of CT’s clients or its affiliated companies. Depending on type of services to CT, Dentsu Media shall not undertake any assignment from competitive products/ brands without CT’s prior written consent.
8. TERMINATION
8.1 CT shall have the right to terminate this Agreement in case of any of the following by providing a 60 day written notice to Dentsu Media specifying in detail the basis for termination and if the basis for termination is not cured within 60 days from the receipt of the notice.
(1) Dentsu Media fails to perform its obligations herein within the schedule specified herein or agreed by the Parties and further fails to remedy its breach within 60-days from CT’s written request for performance;
(2) Dentsu Media breaches any of its obligations and further fails to cure such breach within 60 days from its receipt of CT’s notice thereof.
8.2 Upon the occurrence of any of the following events, CT shall have the right to terminate this Agreement by providing a 60 day written notice to Dentsu Media.
(1) There is a substantial reason for CT to believe that Dentsu Media is incapable of performing its obligations under this Agreement;
(2) If any of the representations and warranties of Dentsu Media is or becomes untrue, false, inaccurate or misleading;
8.3 In the event of Force Majeure (defined in Section 13) or any other cause beyond the reasonable control of Dentsu Media, the Parties have the option of electing to terminate. In such case, Dentsu Media shall refund to CT such amount of the unfinished assignment or Fee as proportionate to the assigned services.
8.4 Neither the termination nor expiration of this Agreement shall discharge or relieve a Party from any liability incurred up to the effective date of such termination or expiration.
9. CONFIDENTIALITY
Any information on or relating to the businesses of CT or CT’s clients or its affiliated companies, which is disclosed to Dentsu Media by CT or Dentsu Media obtains otherwise, shall be deemed as confidential information and proprietary of CT, CT’s clients, and/or its affiliated companies, as appropriate (“Confidential Information”). Dentsu Media shall not disclose, disseminate, release, communicate or make available, directly or indirectly, all or any portion of Confidential Information to any person with/without CT’s prior written consent thereto. Dentsu Media shall take reasonable steps to ensure that Confidential Information is not disclosed, released or disseminate to any third party nor used for any purpose, other than the purpose specifically permitted under this Agreement. Notwithstanding expiration or termination of this Agreement, the confidentiality and non-disclosure obligations under this Section 9 shall remain in full force and effect.
10. INTELLECTUAL PROPERTY RIGHTS
10.1 Any and all rights and interest including without limitation rights pertain to intellectual or industrial property rights, whether registered or not, related to any material provided by CT, the Advertisement, and any and all preparatory materials for the Advertisement shall belong to CT, and CT shall retain and maintain the title, full ownership and interests therein.
10.2 If Dentsu Media retains or is deemed to retain any intellectual or industrial property rights or any other rights or interests related to any material provided by CT, the services, and any and all preparatory materials for the services, Dentsu Media hereby assign, and shall be deemed have assigned, such rights and interests to CT.
11. INSURANCE
Dentsu Media agrees throughout the term of this Agreement that it shall be the beneficiary of an insurance policy maintained in full force and effect at its own expense, amount and through the Dentsu Media’s own arrangement covering the Dentsu Media’s liability in customary form. Upon request of CT, Dentsu Media shall submit to CT a certificate of insurance with a thirty (30) day prior written notice of cancellation provision.
12. INDEMNIFICATION
Dentsu Media agrees to indemnify, defend and hold CT harmless from any and all damages, losses, liabilities claims and expenses (including attorney’s fees) and other sum that CT may have to pay (collectively, “Damages”) which result from or arise out of Dentsu Media’s negligent act, breach of its warranty, representation, or obligation hereunder. Dentsu Media agrees to defend and hold CT harmless from any Damages, accident, and/or injury caused to any third party, including but without limitation all technicians, staffs, subcontractors, or the public in general, arising out of or related to the Services provided by Dentsu Media.
13. ARBITRATION
13.1 This Agreement shall be interpreted, construed and enforced in all respects in accordance with the laws of Thailand. The Parties shall attempt to settle any dispute arising under or with respect to this Agreement amicably, promptly and fairly. This includes matters pertaining to expenses for arbitration. If such dispute can not be settled by the Parties within 30 days after commencement of discussions, either Party may submit such dispute to the final and binding arbitration in Bangkok, Thailand in accordance with the Commercial Arbitration Rules of the Thailand Commercial Arbitration Board. In any arbitration hereunder, the Arbitrators shall have authority.
14. FORCE MAJEURE
If the performance of any part of this Agreement by either Party, or of any obligation under this Agreement, is prevented, restricted, interfered with or delayed due to any force majeure event, such as acts of god, strikes, riots, civil disturbance, fire, war and change of governmental regulation (collectively, “Force Majeure”) or any cause beyond the reasonable control of the Party liable to perform, unless conclusive evidence to the contrary is provided, the Party so affected shall, on giving written notice to the other Party, be excused from such performance to the extent of such prevention, restriction, interference or delay, provided that the affected Party shall use its reasonable best efforts to avoid or remove such causes of nonperformance and shall continue performance with the utmost dispatch whenever such causes are removed. The Parties agree and acknowledge that non-perfor