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Advertising Sales Representative Agreement

 

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Title:

Advertising Sales Representative Agreement

Entities:

NTN Communications, Inc.

Date:

2001

Size:

Preview shows 5KB of 30KB total

Price:

$37

ID:

#832632

 

 

► Fee Agreements ► Representative ► Sales ► Advertising Sales Representative Agreements
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                   ADVERTISING SALES REPRESENTATIVE AGREEMENT


This Advertising Sales Representative Agreement ("Agreement") is made
and entered into as of this 8th day of May, 2001 ("Effective Date"), by and
between NTN Communications, Inc., a Delaware corporation ("COMPANY"), and Baron
Enterprises, Inc., a California corporation ("REPRESENTATIVE").

RECITALS

1. A glossary of terms used with initial capital letters and other
terms defined for purposes of this Agreement is set forth in Exhibit "A" at the
end of this Agreement and is incorporated by reference into the Agreement.

2. COMPANY produces and programs two-way (interactive) entertainment
and operates an interactive network in the United States that broadcasts
multi-player, multi-platform programming to group viewing locations, interactive
cable networks, online services and the Internet.

3. The Advertising Services covered by this Agreement are more
particularly described on Exhibit "A".

4. REPRESENTATIVE desires to serve as independent sales representative
for the Advertising Services.

NOW, THEREFORE, in consideration of the recitals, premises and mutual
covenants contained in this Agreement, the parties agree as follows:

1. Appointment. Subject to the terms and conditions of this Agreement,
COMPANY grants to REPRESENTATIVE the exclusive right to solicit orders for
Advertising Services from: i) advertisers within the non-"food and beverage"
industry other than those identified in Exhibit "B"; from Media; and from any
other advertiser to whom COMPANY grants REPRESENTATIVE solicitation rights in
writing during the term of this Agreement. All contracts for Advertising
Services are subject to, and not valid and binding in the absence of, prior
written approval by an officer of the COMPANY.

2. Relationship of the Parties. REPRESENTATIVE is not an employee,
partner or co-venturer of COMPANY for any purpose, and shall act only as an
independent contractor. REPRESENTATIVE shall adhere to COMPANY's Standards of
Usage for Authorized Representatives. REPRESENTATIVE shall be solely responsible
for the method, manner and means of its performance in compliance with this
Agreement. REPRESENTATIVE is not required to work any particular number of hours
per week or work on any particular days. REPRESENTATIVE does not have any
authority, and shall not hold itself out as having authority, either express or
implied, to make any commitment or representation on behalf of COMPANY or incur
any debt or obligation on behalf of COMPANY.



{PAGE} 2

3. Term. The term of this Agreement shall be one (1) year, commencing
April 2, 2001, and ending on April 1, 2002, unless sooner terminated in
accordance with this Agreement.

4. Compensation.

4.1 COMPANY shall pay REPRESENTATIVE as compensation a
commission at the Commission Rate applied to Net Advertising Revenues resulting
from Advertising Contracts solicited solely by REPRESENTATIVE and included in
the invoiced amount, and after deducting any discounts, credits or offsets, if
any.

4.2 REPRESENTATIVE shall be granted, as of the April 2, 2001
commencement of the Term, a warrant to purchase 20,000 shares of NTN common
stock at a price of $0.50 per share, exercisable by REPRESENTATIVE for a period
of three (3) years through and including April 1, 2001 (the "Warrant"). The
Warrant shall vest and become exercisable as to one-twelfth (1/12th) of the
total shares of common stock issuable thereunder on the last business day of
April 2001 and each month immediately thereafter, subject to REPRESENTATIVE's
continuous representation of COMPANY as set forth herein.

4.3 If the Agreement is terminated by COMPANY or expires
without renewal, COMPANY shall pay to REPRESENTATIVE a commission at the rate of
fifteen percent (15%) of Net Advertising Revenue received by COMPANY for any
Advertising Contract solicited solely by REPRESENTATIVE, existing at the time of
termination or expiration, that renews during the twelve (12) month period
immediately subsequent to expiration or termination of the Advertising Contract
(the "Surviving Commission"). In the event this Agreement is terminated by
REPRESENTATIVE, no Surviving Commission will be payable hereunder.


 

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