Memorandum of Understanding Between School TV Co., Ltd. and Kidding Co. Regarding RE/MAX Office Support
School TV Co., Ltd. and Kidding Co. have agreed that School TV will support Investech Co. in opening and managing a RE/MAX office in a region owned by Kidding. Kidding will pay School TV a business opening support fee of JPY 980,000, with payment timing to be mutually agreed, as well as ongoing management fees for brokerage, office, and agent services. All fees are to be paid by the 15th of the following month via bank transfer. The agreement is effective from August 1, 2017.
MEMORANDUM OF UNDERSTANDING
School TV Co., Ltd. (“School TV”) and Kidding Co. (“Kidding”) enter into This Memorandum of Understanding (MOU) as follows:
Article 1
| 1. | School TV shall support Investech Co. (“Investech”) for the business opening and management of RE/MAX office in the region owned by Kidding. |
| 2. | Kidding shall pay School TV JPY 980,000 (sales tax excluded) as the business opening supporting fee. The term of the payment shall be fixed by mutual agreement. |
| 3. | Kidding shall pay School TV the management fees as follows: |
| (1) | Brokerage fee |
| (2) | Brokerage office fee |
| (3) | Agent fee |
| 4. | Kidding shall pay above fees by 15th day of the following month by bank transfer. Transfer charge shall be owed to Kidding. |
Article 2
This MOU shall be effective on August 1, 2017.
July 28, 2017
School TV Co., Ltd.
1-23-38, Esakacho, Suita-shi, Osaka, Japan
Tomoo Yoshida
President
/s/ Tomoo Yoshida
Kidding Co..
2-12-5, Yotsuya, Shinjuku-ku, Tokyo Japan
Yoshiki Oketani
President
/s/ Yoshiki Oketani
