Data Processing Agreement between Digital Matrix Systems, Inc. and Intersections, Inc. (December 14, 2001)
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Summary
This agreement confirms that Digital Matrix Systems, Inc. (DMS) will provide monthly monitoring and data processing services for Intersections, Inc. DMS will handle tasks such as receiving and converting monitoring files, managing applications, quality control, and reporting. Intersections will pay DMS $20,000 per month for these services and must provide one year’s notice if they wish to terminate the arrangement. The agreement outlines the key responsibilities and payment terms between the two companies.
EX-10.16 6 w92166a2exv10w16.txt DATA PROCESSING AGREEMENT EXHIBIT 10.16 Ken Schwarz Intersections, Inc. December 14, 2001 Dear Ken, During the renegotiation of our licensing agreement with Intersections I realized we have been operating under a verbal agreement on the processing of the monitoring files. This is a note to confirm our arrangement. DMS will perform the monitoring for intersections on a monthly basis; this consists of the following high-level tasks. - - Receipt of monitoring on a weekly or monthly basis as determined by Intersections - - Conversion of request files to inquiry files to be sent to bureaus - - Receipt and importing of archive reports from EFX, TU and XPN - - Management and execution of three applications, Monitoring, AQR and CQCU - - QC of Monitoring, AQR and CQCU results files prior to delivery via ftp - - Providing monitoring results reports segregated by product - - Research of QC issues from Intersections - - Provision of attribute information to be utilized for Credit Analyzer and Automated QC efforts - - Mutually agree on service level objectives - ------------------------------------------------------------------------------- For this service Intersections will pay DMS $20,000, per month and agrees to give DMS one year notice if Intersections decides it no longer wished DMS to provide these services. Thanks, /s/ David A. McGough - ---------------------------- David A. McGough Digital Matrix Systems, Inc. Agreed to by /s/ Kenneth Schwarz - ---------------------------- Kenneth Schwarz CFO Intersections
