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Master Revenue Sharing Agreement

 

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Title:

Master Revenue Sharing Agreement

Entities:

Interactive Motorsports & Entertainment Corp

Date:

2004

Size:

Preview shows 6KB of 56KB total

Price:

$34

ID:

#1247267

 

 

► Miscellany ► Sharing ► Revenue ► Master Revenue Sharing Agreements

 

 

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<SEQUENCE>4

<FILENAME>perfectrevenue.txt
<DESCRIPTION>EX. 10.3 REVENUE SHARING
<TEXT>

MASTER REVENUE SHARING AGREEMENT


THIS MASTER REVENUE SHARING AGREEMENT, as amended, supplemented and/or
modified from time to time in accordance with the terms and provisions hereof,
and together with all Exhibits and/or other Schedules hereto (this "Agreement"),
is entered into as of __________ ___, 2004, by and among_________________, a
____________ company ("Operator"), and Perfect Line, Inc., an Indiana company
("Owner").

WHEREAS, Operator desires to revenue share one or more of Owner's
Motion-based Race Car Simulator Attractions ("Equipment") for installation and
use at the Premises (as herein defined);

WHEREAS, for the purpose of confirming Operator's interest in leasing
the Equipment (as herein defined), Operator and Owner have previously entered
into that certain Revenue Sharing Terms Sheet ("Basic Terms"), for the
Equipment, dated as of __________ ___, 2004 containing the Basic Terms and
conditions set forth in Article I below.

NOW, THEREFORE, for and in consideration of the mutual promises and
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

ARTICLE I
BASIC TERMS

Item # OWNER TO PROVIDE

1. Hardware: 4 fully operational Race Car Systems including all
necessary components to simulate the current racing
experience in the existing racing centers associated
with Perfect Line. This includes, but is not limited to
the required sleds, frames, shells, electronics,
networks, hubs, computers, computer racks, image
generators, screens, monitors, hydraulic pumps, and
safety devices. Footprint for each simulator is 10' 1/4"
wide x 13'6" deep x 10' high, plus space is required for
the attendant, computer operating system, printer,
training area, and spectators.

2. Race Control: The operating system that controls the operation of each
Racing Simulator starts and stops races and configures
each race (programs the racing circuit desired, time
race or lap race, etc.).

3. Software
Description: Owner's software to include image generator, race
control, and 6 race track databases: Indianapolis Motor
Speedway, Atlanta Motor Speedway, Daytona International
Speedway, Bristol Motor Speedway, Richmond International
Raceway and Lowe's Motor Speedway. Special software for
the "Daytona Rookie Challenge" is also included as a
training experience for new drivers.
<PAGE>

4. 1 Spectator
Monitor System: "SMS Live" system where multiple TV-style views are fed
to a TV monitor. One Monitor to be placed where
spectators can view race from a waiting line or from a
remote location.

5. 1 Leader Board
System: A computer and monitor system that displays race
information, lap times and car positions of each driver
as it happens, in real-time. This system is integrated
into the Spectator Monitor.

6. 1 Print
Station: Prints a detailed race summary for each driver at the
end of each race and offers the ability to reprint any
race of the day.

7. Licenses: Licenses will be granted for Owner software and NASCAR
teams, brand, and race tracks. Operator may utilize the
licenses for the use and promotion of the attraction.
However, Operator does not have "pass-through"
rights to the NASCAR Silicon Motor Speedway name and/or
logo ("NASCAR Logo"), or to any third party NASCAR
Licensees. Any and all use by Operator, or any affiliate
or representative of Operator, of the NASCAR logo,
including but not limited to sales promotion and
advertising of the racing experience, is subject
to the approval of Owner and NASCAR. Operator agrees to
compensate Owner an amount equal to 4 percent of net
simulator revenues payable within 10 days of the close
of the month.

8. Installation: Installation within 10 days of delivery to be
accomplished by at least 2 of Owner's technicians, by
Operator's senior technician and labor supplied by
Operator.

9. Training: Prior to installation, Owner will train Operator's
senior technician for a minimum of 3 days at one of the
NASCAR Silicon Motor Speedway stores. Operator to bear
cost of transportation, hotel and associated travel
expenses. During installation, training of chief
technician will continue as he/she assists Owner's
installation team. During installation, Owner will train

 

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