RB-11-2007 Agreement with Ministry of National Education
Pursuant to &5 sec. 1 pt. 3 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, the Management Board of ComArch S.A. announces that on 30 April 2007, a contract between ComArch S.A. (hereinafter referred to as the "ComArch") and Ministry of National Education with its registered seat in Warsaw, at Al. Szucha 25 (hereinafter referred to as the "MNE") was signed.
Within the framework of the contract, ComArch will deliver, install and connect to network 961 computer labs in primary schools, junior high schools, post-junior high schools, post-secondary schools that are located in the area of the second Region that includes provinces: malopolskie and podkarpackie. The net value of this agreement amounts to 41,577,276 PLN. The contract will be executed during 70 days beginning from the contract signing date, guarantee service will be provided during 36 months beginning from the delivery date.
The following cases that may cause payment of contractual penalties are considered in the agreement:
1. failure to execute a completion date may cause a contractual penalty in the amount of 1 % of the gross value of the non-performed part of the agreement (for each day of delay),
2. withdrawal from the contract caused by ComArch may result in a penalty in the amount of 5 % of the gross value of the non-performed part of the agreement,
3. delivery of hardware and software against the agreement or disagreement between ordered and executed network installation may cause a contractual penalty in the amount of 1 % of the gross value of computer lab which was delivered against the agreement (for each day until the correct equipment is delivered and correct web installation is done, for each day of delay),
4. exceeding of 5-day period for delivery completion as well as hardware, web construction and software implementation against the agreement, caused by ComArch may result in contractual penalty in the amount of 1 % of the gross value of computer lab which was delivered against the agreement (for every day until the correct equipment is delivered or the correct web installation is prepared),
5. delay in guarantee services may result in contractual penalty in the amount of 1 % of delivered and installed equipment (for each day of delay in reparation),
6. breach of new contract execution date that was established due to fact that school was not prepared for commissioning of computer labs may result in contractual penalty in the amount of 50 % of the gross value of undelivered computer lab.
The above-mentioned contractual penalties do not exclude a possibility of suing for damages on general principles. These contractual penalties are subject to summation.
The value of the company's total equity constitutes the significant agreement's criterion.