MEMORANDUM OF UNDERSTANDING
FUNDS MANAGEMENT AGREEMENT
DEED OF PARTNERSHIP
BETWEEN
MISS. FATIMA ADOULKARIM, A CITIZEN OF MALI,
{HEREINAFTER REFERED TO AS “PARTY A” INVESTOR},
AND
MR.CHOLIL WAWAN, A CITIZEN OF INDONESIA , {HEREIN
AFTER REFERED TO AS “PARTY B” PARTNER AND FUNDS MANAGER}.
WHEREAS; MISS.FATIMA ABDOULKARIM/INVESTOR hereby irrevocably
confer power and warrants, under penalty of perjury, that she
duly authorize MR. CHOLIL WAWAN/PARTNER AND FUNDS MANAGER to take full
possession of the funds, and the investment funds are clear and free of any
encumbrances, and they are not the result of any criminal enterprise.
WHEREAS; MR. CHOLIL WAWAN/PARTNER AND FUNDS MANAGER hereby
irrevocably accept and represent MISS.FATIMA ABDOULKARIM/INVESTOR with full
corporate authority and responsibility, under penalty of perjury, and take full
responsibility of the investment funds and with full power to sign and manage
the investment.
THEREFORE; In consideration of the mutual agreement, the
INVESTOR and the PARTNER AND FUNDS MANAGER hereby jointly agree and accept to
form a binding contract on the management of the aforementioned funds on the
terms and conditions as follows:
ARTICLE 1.
TERMS AND CONDITIONS
1.1 The INVESTOR hereby warrants
that the said funds, Ten million dollars (10,000,000.USD) should be delivered
or transferred to the PARTNER AND FUNDS MANAGER.
1.2 The INVESTOR and the
PARTNER/FUNDS MANAGER hereby agree that an “APPOINTMENT FEE OR COMMISSION”
which is 5% of the said funds is to be paid to the FUNDS MANAGER for his
assistance so far.
1.3 The INVESTOR and the
PARTNER/FUNDS MANAGER hereby agree that they shall operate a joint account upon
the commencement of the investment.
ARTICLE 2.
RIGHT GRANTED
2.1The PARTNER/FUNDS MANAGER has the full right to invest the said funds
into any business venture decided upon by both parties.
2.2 The PARTNER/FUNDS MANAGER has
the full right to seek proper advice from qualified or authorized persons.
2.3 The PARTNER/FUNDS MANAGER
shall have the right to obtain reimbursement for all cost and expenses incurred
by him including the traveling fees, medical insurance, lodging and out of
pocket expenses, provided all receipts to such effect is produced to the
INVESTOR.
2.4 The PARTNRT/FUNDS MANAGER
agrees that he shall only be authorized to make any withdrawal from their joint
account upon the receipt of a written mandate from the INVESTOR, unless the
amount is not more than Five hundred thousand dollars (500,000.USD).
ARTICLE 3.
OBLIGATION OF THE FUNDS MANAGER
3.1 The PARTNER/FUNDS MANAGER
shall manage the said funds with utmost care and good faith.
3.2 The PARTNER/FUNDS MANAGER
shall keep his transactions strictly confidential.
3.3 The PARTNRT/FUNDS MANAGER
shall send quarterly reports of all investment transactions carried out to the
INVESTOR.
3.4 The PARTNER/FUNDS MANAGER
shall not employ any services of a third party without the consent of the
INVESTOR.
ARTICLE 4.
PROTECTION OF CONFIDENTIALITY
It is the duty and responsibility of the PARTNER/FUNDS MANAGER to
protect and handle in the most confidential manner, all information relating to
persons and the investment, surrounding and connected with the transaction
under his management.
ARTICLE 5.
PROFIT SHARING
4.1 The INVESTOR and the
PARTNER/FUNDS MANAGER hereby agree that, upon the commencement of the
investment, PARTNER/FUNDS MANAGER shall pay 50% 0f all profit after tax that
would accrue from the use of funds to the INVESTOR, while PARTNER/FUNDS MANAGER
is entitled to the remaining 50% of the
profit ,meanwhile he is NOT required to pay any interest.
IN WITNESS THEREOF; the parties to this
Agreement set their signatures andduly executed the foregoing instrument or
caused the same to be executed on the date hereunder written.
Agreed to and Accepted by:
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MISS. FATIMA ABDOULKARIM MR. CHOLIL WAWAN
(INVESTOR)
(PARTNER/FUNDS MANAGER)
On the __________ day of ____________________ 2014