Exhibit 10.1
AGREEMENT
(CO-WORK FOR INDUSTRY DEVELOPMENT OF ELECTRIC CAR INDUSTRY AND INTELLECTUAL CAR
INDUSTRY IN FUTURE WITH KERMYUNG UNI. KOREA)
LEOZONE Inc. and the Center of Automotive Mechatronics Parts/ Intelligent
Automotive Parts Business Promotion Team in Keimyung University hereby agree to
make collaboration for the development of electronic and the intelligent
automobile industry for sophisticated future-oriented automobiles as a
next-generation growth engine.
ARTICLE 1 (PURPOSE)
The primary purpose of this Agreement is to promote mutual development of
concerned parties through technology and information exchanges by establishing
bilateral collaborative system.
ARTICLE 2(SCOPE OF COLLABORATION)
This Agreement shall be applicable to following areas for mutual development and
active collaboration.
1. To establish a collaborative system for industry-academy co-research
through joint research projects and etc.
2. Mutual exchange and utilization of various resources including technical
personnel, research equipment, facilities, academic information and etc.
3. Mutual contributions to the development of science and technology as well
as of the local community
ARTICLE 3 (OBLIGATION OF CONFIDENTIALITY)
Except for publicly available information, both parties shall keep the other
party's data and information obtained during the process of establishing and
implementing this Agreement as confidential and shall not misuse, reveal or
disclose the above-mentioned information without a prior consent of the other
party.
ARTICLE 4 (PRINCIPLE OF COOPERATION)
Both parties shall actively cooperate with each other and comply with the other
party's request based on good faith.
ARTICLE 5 (EFFECTIVENESS OF AGREEMENT)
This Agreement shall go into effect upon signature by both parties and shall
remain effective unless terminated or halted based on the mutual consent of both
parties.
ARTICLE 6 (MODIFICATION OF AGREEMENT)
1. This Agreement may be modified in part based on mutual consent of both
parties.
2. Modification of this Agreement shall require signatures by
representatives of both parties and such modification shall go into effect upon
the date of signature by both parties, unless specified otherwise.
ARTICLE 7 (IMPLEMENTATION OF AGREEMENT)
Both parties shall faithfully implement this Agreement based on mutual trust and
neither party shall be responsible for any loss or damage caused by Act of God
beyond the control of both parties.
ARTICLE 8 (DETAILED AGREEMENT)
If it is necessary to advance the purpose of this Agreement and intended mutual
relationships into another level of detail including a follow-up agreement or
contract, both parties may proceed with escalating the effect of this Agreement
accordingly based on mutual consent.
ARTICLE 9 (NON-BINDING FORCE)
1. Any rights and obligations incurred during the process of implementing
roles assigned to each party shall not be regarded as being created, modified,
accepted or carrying binding force.
2. Any specific matters that might occur during the process of implementing
roles assigned to each party shall be settled according to the consent based on
due responsibilities of both parties.
ARTICLE 10 (INTERPRETATION OF AGREEMENT)
Any particulars that are not stipulated in the Agreement or any discrepancy
between parties on the interpretation of the Agreement shall be settled
according to the consent based on mutual faith and trust.
November 14. 2007
LEOZONE Inc The Center of Automotive Mechatronics Parts
CEO ▇▇▇, ▇▇▇▇▇ ▇▇▇▇ President ▇▇▇, ▇▇▇ ▇▇▇▇▇
Intelligent Automotive Parts Business Promotion Team
Team Leader ▇▇▇, ▇▇▇▇▇▇ Soo