1. AIM
The aim of this Contract is to establish a formal commercial arrangement that would see:
(a) Visicom licensing the Systems and the Wallet to Hanel at an agreed revenue sharing model as foreshadowed in Section 2 of this agreement;
(b) Hanel using the Systems and the Wallet to create new markets in home automation by sourcing relevant and qualified customers through the existing distribution frameworks;
(c) The License Arrangement is to be based out of Hanoi, Vietnam, and is to incorporate the understandings set out in Section 2; and
(d) The parties will work with each other in a collaborative effort that will see the parties sharing information for their mutual benefit with the express intention of expediting the formalization of the Licensing Arrangement and the overall commercial relationship between the parties.