memorandum of understanding (mou) · company information 1 memorandum of understanding (mou)...
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CompanyInformation 1
MEMORANDUMOFUNDERSTANDING(MoU)
BETWEEN
BRILTIMELTD.registeredinHONGKONGhavingitsofficeat603,HungHomCommercialCentre,
TowerA,37-39MaTauWaiRd,HungHom,Kowloon,HongKong,hereinaftercalled‘TeamBriltime’
oftheOnePart
AND
_______________________<NameofCompany>registeredin_______________________<Nameof
City>, _______________________<COUNTRY> having its office at
______________________________________________<RegisterOfficeAddress>hereinaftercalled
“BusinessOwners”ofthe
OtherPart:
WHEREAS:
• The Team Briltime is providing a Social Media Software Application ‘SMAZING’, available
worldwideatAppleAppstoreandGooglePlaystoreforafreedownload.
• The Business Owners want to market their Products/Services offerings on Smazing Software
ApplicationtoreachouttousersWorldwideforadefinedperiodof time.TheBusinessOwners
willextendexcitingoffersontheProducts inexchangeonSmazingLoyaltyPointsthattheusers
earn via the Use of the Software Application. The details of the process are attached in the
Annexures.
• The terms and conditions of thisMoU shall apply to the attached Exhibits, and to subsequent
replacements for theattachedExhibits that areentered intobetween theParties from time to
timeduringthetermofthisMoU.
NOWITISAGREEDBETWEENTHEPARTIESHERETOASFOLLOWS:—
1. TeamBriltimehaspublishedaSocialMediaSoftwareApplication ‘Smazing’, available fora free
downloadontheAppleAppStoreandGooglePlayStore,Globally.Usersenjoyanauthenticand
safe place to share and express their thoughts, experiences, life events, etc. and communicate
withotherusersonthePlatform.SoftwareApplication‘Smazing’isavailableforusersgloballyat
NoCost.
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2. RightstoLicense.TeamBriltimewarrantsandrepresentsthatithastherightsnecessarytoenter
intothisMoU,includingallrightsnecessaryfromthirdpartieswhoseintellectualpropertymaybe
incorporatedintheSoftwarebyTeamBriltime.
3. On attaining a Business Owners profile, users can create Promotional Campaigns of the
Product/ServiceOfferings.CreationofCampaignfunctionalityisavailableandlimitedtoBusiness
Owner profile users only. Process reference is available in Annexure. Once the respective
Campaignissetup,thePromotionalVideoisfeaturedundertheFeaturedSectionoftheTimeline
Pageof theSoftwareApplicationand isavailable tousersacross theglobeora selectivesetof
users,chosenaspertheBusinessOwner.
4. TheViewershipofsuchPromotionalVideoswillincentivizetheuserbasetoearnSmazingLoyalty
Points(SLPs)thatcanbetradedfortheofferings.BusinessOwnerswillaccepttheSmazingLoyalty
PointsinexchangeoftheOfferingpostedontheSmazingSoftwareApplication.
5. SubjecttothetermsandconditionsofthisMoUandanyadditionalconditionsdefinedinExhibits
attached, Team Briltime hereby grants the Business Owner, a limited, nonexclusive, non-
assignable, non-revocable, license to use the Software subject to the terms and additional
restrictionsdefinedunderthisExhibitA(togetherthe“License”).TotheextenttheSoftwaremay
contain or incorporate third-party software, Business Owner agrees to use the third-party
softwareproductsormodulesprovidedbyTeamBriltimesolelyinconjunctionwiththeSoftware
andinaccordancewiththetermsofthisMoU.
6. Except as authorized in Exhibit A, BusinessOwner agrees that itwill not itself, or through any
Affiliate or other party: (a) Distribute, resell, rent, lease, license or sublicense or otherwise
provide to any third party any portion of the Software, the Documentation. (b) Copy or
reproducetheSoftwaretoanyserverorlocationotherthanaserverorlocationauthorizedbythe
terms of Exhibit A. (c) Decompile, disassemble, modify, or reverse engineer the Software, in
wholeorinpart,orattempttodoanyoftheforegoing.
7. BusinessOwnerisusingandoperatingSmazingSoftwareApplicationandtheplatformhasproven
its functionality for theBusinessOwner. Apart from this, in the event that the platform shows
unexpected behaviour in service critical functionality already provided, which is caused by a
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platform fault,TeamBriltimewillmaintain itsbesteffort to repair this fault.TeamBriltimewill
prioritiesthefaultaccordingtoitscriticality.TeamBriltimeshalluseitsbestendeavorstoimprove
and add-in additional Features on the Software Application, improve the user experience and
maintaintheappforacontinuousandun-interrupteduse.
8. Team Briltime warrants and represents that: The MoU between Team Briltime and Business
Owner isnotdependentonanyotheragreementdone inthepastortobedone in future.The
present agreement/ understanding / contract shall be totally immune from all kind of past
/present and/or future legal/financial/operation disputes or otherwise between Team Briltime
andthirdpartyincludesthestatutoryauthority.Theyshallexpresslyinform/intimate/makenote
to all its associates including legal / accounts / auditors / advisors/planners/operational /
administrationaboutsigningandorexpressobligationofsuppliertowardstheCustomers.
9. Disclaimer.EXCEPTASEXPRESSLYSETFORTHABOVE,TEAMBRILTIMEMAKESNOWARRANTIES,
WHETHEREXPRESS, IMPLIED,ORSTATUTORYREGARDINGORRELATINGTOTHESOFTWAREOR
THE DOCUMENTATION, OR ANY MATERIALS OR SERVICES FURNISHED OR PROVIDED TO THE
BUSINESS OWNER UNDER THIS MOU INCLUDING, WITHOUT LIMITATION, MAINTENANCE,
TECHNICAL SUPPORT AND PROFESSIONAL SERVICES. TEAM BRITIME FURTHER SPECIFICALLY
DISCLAIMSALLWARRANTIESOFFITNESSFORAPARTICULARPURPOSEANDMERCHANTABILITY.
10. LIMITATIONOF LIABILITY. IN NO EVENTWILL TEAM BRILTIME OR ITS SUPPLIERS, IF ANY, BE
LIABLE FORANY LOSSOF PROFITS, LOSSOFUSE, BUSINESS INTERRUPTION, LOSSOFDATA,OR
INDIRECT, SPECIAL, INCIDENTALOR CONSEQUENTIALDAMAGESOFANY KINDARISINGOUTOF
THISMOU,WHETHER INCONTRACTORTORT, EVEN IF TEAMBRILTIMEHASBEENADVISEDOF
THEPOSSIBILITYOFSUCHDAMAGES.
11. CONFIDENTIAL INFORMATION. During the Term of thisMoU, and for five (5) years after the
dateofexpirationorterminationofthisMoU,bothPartiesshalltreatthisMoU,theSoftware,and
allconfidential information, including,butnot limitedto,confidentialdata,confidential reports,
Registered User lists, and other confidential records that are received from the other Party as
secret,confidential,andproprietary(collectively“ConfidentialInformation”),andshallholdsuch
Confidential Information in strict confidence, and shall not disclose or use such Confidential
Informationwithout thepriorwrittenconsentof thedisclosingPartyexceptasprovided in this
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MoU.BothPartiesshalldevelopandimplementsuchproceduresasmayberequiredtoprevent
theintentionalornegligentdisclosuretothirdpartiesofConfidentialInformationcommunicated
toeitherPartyand itsemployees,contractorsandagentsbytheotherParty, including,without
limitation, requiring each of its employees, contractors and agents having access to such
Confidential Information received under this MoU to enter into an appropriate nondisclosure
agreementwiththereceivingPartythatrequiresthelevelofcaredefinedinthisMoU.
12. Limited Exceptions. Nothing in this MoU shall prevent the disclosure by either Party or its
employees,contractors,andagentsofConfidential Informationthat: (a)priortothetransmittal
thereoftothereceivingPartywasofgeneralpublicknowledge;(b)becomes,subsequenttothe
timeoftransmittaltothereceivingParty,amatterofgeneralpublicknowledgeotherthanasa
consequence of a breach by the receiving Party, its employees, contractors or agents of any
obligationunderthisMoU;(c)ismadepublicbythedisclosingParty;(d)wasinthepossessionof
thereceivingPartyindocumentaryformpriortothetimeofdisclosurethereof,andisheldbythe
receivingPartyfreeofanyobligationofconfidencetothedisclosingPartyoranythirdparty;or(e)
isreceivedingoodfaithfromathirdpartyhavingtherighttodiscloseit,whodidnotobtainsuch
informationfromthedisclosingPartyandwhoimposesnoobligationofsecrecyonthereceiving
Partywithrespecttosuchinformation.
13. Compelled Disclosure. In the event that either Party is required by law to disclose any
Confidential Information,thereceivingPartyagreestoprovidethedisclosingPartywithprompt
noticeof such request(s) so that thedisclosingPartymay seekanappropriateprotectiveorder
and/orwaivethereceivingParty’sorsuchperson’scompliancewiththeprovisionshereof.Inthe
absence of a protective order or the receipt of a waiver hereunder, if the receiving Party is
nonetheless, in thewrittenopinionof the receivingParty’s legal counsel, compelled todisclose
any Confidential Information, the receiving Party may disclose such information as is legally
requiredtobedisclosedwithoutliabilityhereunder,providedthatthereceivingPartyusesitsbest
efforts to obtain assurances that confidential treatment will be afforded to such Confidential
InformationbythepersonstowhomsuchConfidentialInformationisdisclosed.
14. TERM. THISMASTERAGREEMENTWILLTAKEEFFECTONTHEEFFECTIVEDATEANDPROVIDES
ANIRREVOCABLERIGHTTOUSETHESOFTWAREUNDERTERMSSPECIFIEDINEXHIBITA
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15. TeamBriltime is committed to distribute the SoftwareApplication across various geographies
through using conventional and onlinemodes ofMarketing. Team Briltimewill hire or employ
expertsmanagingtheappcommunicationtousersglobally.
16. TeamBriltimewillworktowardsanEcosystemwhereinSmazingLoyaltyPointsareacceptedon
other E-Commerce platforms &/or Loyalty Programs &/or Blockchain Netwroks, etc., Globally.
BusinessOwnerswillbeabletoexchangeortradetheSLPsaccumulatedontheSmazingSoftware
AppinexchangeofGoods/Products/ServicesavailableonsuchPlatforms.TermsandConditionsof
otherPlatformswillbedefinedinaSeparateAgreement.
17. Ifaparty isprevented,hinderedordelayed inorfromperforminganyof itsobligationsunder
thisMoUbyaForceMajeureEvent(“AffectedParty”),theAffectedPartyshallnotbeinbreachof
thisMoUorotherwiseliableforanysuchfailureordelayintheperformanceofsuchobligations.
Thetimeforperformanceofsuchobligationsshallbeextendedaccordingly.
18. The Business Owners will supply the Listed Offering to the End Customers directly. All the
Purchase transactions, if any, will be invoiced to the Customer by the Business Owner. The
BusinessOwners are responsible to collect thepayments from theEndCustomer, if any. Team
Briltime is not responsible for any transactionsoccurringbetween theBusinessOwner and the
EndCustomer.
19. DisputeResolution.Anydispute,claimorcontroversyarisingoutoforrelatingtothisMoUor
the breach, termination, enforcement, interpretation or validity thereof shall be subject to the
lawsandcourtsofHongKong.
20. Anypartywillbeentitledtocancelthisarrangementbygivingpriornoticeofatleastonemonth
totheotherpartyinanyofthefollowingevents–
(a) IftheotherpartycommitsbreachofanytermofthisUnderstanding.
(b) Iftheeitherofthepartiesgoesintovoluntaryliquidationorisorderedtobewoundupbya
courtoflaw.
(c) If any event happens which makes the performance of this arrangement impossible by
reasonofanyforcemajeureorotherwise.
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(d) IftheBusinessOwnerisguiltyofanyconductwhichTeamBriltimefeelsprejudicialtothe
interestoftheCompany.
21. WAIVER.AnywaiveroftheprovisionsofthisMoUorofaparty’srightsorremediesunderthis
MoU must be in writing to be effective. Failure, neglect, or delay by a party to enforce the
provisionsofthisMoUoritsrightsorremediesatanytime,willnotbeconstruedordeemedtobe
awaiverof theparty’s rightsunder thisMoUandwill not in anywayaffect the validityof the
wholeoranypartofthisMoUorprejudicetheparty’srighttotakesubsequentaction.
22. TheMoUisexecuted induplicateandTeamBriltimeandtheBusinessOwnerhereofwillkeep
onecopy.
INWITNESSWHEREOFthepartieshaveputtheirrespectivehandsthedayandyearfirsthereinabovewritten.
SIGNATUREBLOCK
BriltimeLtd.
DevWadhwani
Founder&Partner
SIGNATUREBLOCK
_______________________<NameofCompany>
_______________________<SigningAuthority>
_______________________<Designation>
(Date) (Date)
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EXHIBITA
LICENSESCHEDULE
ThisLicenseSchedule(“LicenseSchedule”or“ExhibitA”)iseffectiveasof
_______________________<INSERTDATE>(the“ExhibitDate”)andisattachedtoandmadeapart
oftheMemorandumofUnderstandingdated_______________________<INSERTDATE>between
TEAMBRILTIMEandBUSINESSOWNER.ExceptasstatedotherwiseinthisLicenseSchedule,the
definedtermsusedbelowwillhavethesamemeaningsasthedefinedtermsintheMoU.Theterms
andconditionsofthisExhibitAwillgoverniftheyconflictwithanytermorconditionintheMoU,and
thisExhibitAiseffectiveontheExhibitDateabovewhenithasbeensignedbybothPartiesand
supersedesandreplacesanypriorExhibitsAintheirentirety.
1.DESCRIPTIONOFSOFTWARE.TheSmazingSoftwarePlatform(the“Software”orthe“Platform”)is
server-basedsoftwarethatenablesmobiledeviceuserstoViewanduploadvideos,broadcasts,
featuredcontent,useindividualandgroupaudioandvideochat,low-costphonecalls,andSMS
servicesandvariousotherfeatures.
Inadditiontotheserver-basedsoftware,SmazingSoftwarePlatformprovides2SDKs(Software
DevelopmentKit),oneforAndroidPlatformandoneforiOSPlatform,whichenablethesoftware
functionalityprovidedbySmazingSoftwarePlatformonmobiledeviceswithiOSorAndroid
operatingsystem.ThissoftwarelicenseoftheSDKswillbenamedtheSDKLicense
ThesoftwareisdescribedfullyintheWhite-PaperandisavailabletotheBusinessOwnerupon
requesttoacquiretheWhite-Paper.Morespecifically,BusinessOwnerisusingtheSmazingSoftware
ApplicationforMarketingandPromotionoftheProductsorServicesithastooffer.TheTermLicense
coversallSmazingSoftwarecomponentsonclient(mobiledevice)andserversiderequiredtorun
SmazingSoftwareApplicationinitscurrentdevelopedfunctionality.
2.LICENSERESTRICTIONS.BusinessOwnerisauthorizedtoprovideitscustomerswithaccesstothe
SoftwareatNOCOST.BusinessOwnerisauthorizedtouseandrunthesoftwareattheirendontheir
preferredMobileDevices.
3.DataCenterLocation.ThecurrentdatacenterlocationisAmazonWebServicesRegionSingapore.
OneAmazonWebServicesRegionwillbeconsideredasonedatacenterlocation.AnAmazon
WebServicesRegioncancontainmultipleavailabilityzones.ThetermsLicensecoversthe“Server
License”andthe„SDKLicense“.
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ANNEXUREA
CREATEABUSINESSOWNERACCOUNT
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ANNEXUREB
SETUPCAMPAIGN
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ANNEXUREC
REWARDINGSYSTEM
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ANNEXURED
EARNANDEXCHANGE