AGREEMENTTODISSOLVEJOINTVENTURE（四）.docVIP

AGREEMENT TO DISSOLVE JOINT VENTURE This Agreement between XXXXXXXXXX, residing at XXXXXXXXXX (herein called XXXXXXXXXX), and XXXXXXXXXX, at XXXXXXXXXX (herein called XXXXXXXXXX) is for the dissolution of the joint venture entered into between the parties on XXXXXXXXXX, pursuant to an agreement signed by the parties on that date. The joint venture has produced a completed XXXXXXXXXX entitled XXXXXXXXXX ?(herein XXXXXXXXXX). 1. ?The parties hereby dissolve their joint venture. 2. ?Any and all remaining assets of the joint venture including future income from the sale or licensing of the XXXXXXXXXX (with the exception of the copyright to the XXXXXXXXXX and the raw footage), shall be liquidated, and the proceeds realized from the liquidation shall be distributed according to the following order of priority: First, to payments of all outstanding joint venture expenses, if any, including obligations, royalties, debts, salaries, and taxes, and expenses necessary to wind up the joint venture. Second, to the parties according to the following formula: (a) Revenues up to the first XXXXXXXXXX, shall be split equally (50/50) between the parties, then (b) revenues shall be divided XXXXXXXXXX to XXXXXXXXXX and XXXXXXXXXX to XXXXXXXXXX until the cost of production has been recouped, then (c) after the cost of production has been recouped, all additional revenues shall be split 50/50 between the parties. 3. Upon the request of either party, a complete and final audit of the books, records, and accounts of the joint venture shall be conducted, and all final adjustments between the parties shall be made on the basis of such audit. 4. If, after the termination of the joint venture, any claim, liability, or expense shall be asserted against the joint venture which was not used in computing the profits and losses of the joint venture and which is a proper item of computation, the parties shall bear any such claim, liability, or expense equally. 5. The copyright in the XXXXXXXX