Lenovo 2016 Annual Report Download - page 155

153
2015/16 Annual Report Lenovo Group Limited
CONTINUING CONNECTED TRANSACTIONS (continued)
(i) Continuing connected transactions with NEC and its associates (continued)
NEC Fielding Agreement
Date: January 15, 2004
Parties: NEC Fielding Ltd., a subsidiary of NEC, and NECP (whose rights and obligations
were transferred to NECPC, a member of the JVCo Group, on and following the
Closing Date)
Services provided/received: NEC Fielding Ltd. agreed to provide maintenance and other ancillary services for
certain equipments sold by the JVCo Group following the Closing Date.
Term: The initial term ended on March 31, 2004 and is automatically renewed for additional
one-year term unless either party gives prior termination notice.
Annual cap(Note 1):1/7/2011 – 31/3/2012: JPY2,665 million (US$32,246,500)
1/4/2012 – 31/3/2013: JPY3,553 million (US$42,991,300)
1/4/2013 – 31/3/2014: JPY3,553 million (US$42,991,300)
1/4/2014 – 31/3/2015: JPY3,553 million (US$42,991,300)
1/4/2015 – 31/3/2016: JPY3,553 million (US$42,991,300)
1/4/2016 – 1/7/2016: JPY888 million (US$10,744,800)
NESIC Agreement
Date: August 18, 2003
Parties: NEC Networks & System Integration Corporation (“NESIC”), an associate of NEC,
and NECP (whose rights and obligations were transferred to NECPC, a member of
the JVCo Group, on and following the Closing Date)
Services provided/received: NESIC agreed to provide NECPC with operation and maintenance services for
intranet and other internal communication systems of NECPC following the Closing
Date.
Term: The term ended on March 31, 2004 and is automatically renewed for additional one-
year terms unless either party gives prior termination notice.
Annual cap(Note 1):1/7/2011 – 31/3/2012: JPY58 million (US$701,800)
1/4/2012 – 31/3/2013: JPY77 million (US$931,700)
1/4/2013 – 31/3/2014: JPY77 million (US$931,700)
1/4/2014 – 31/3/2015: JPY77 million (US$931,700)
1/4/2015 – 31/3/2016: JPY77 million (US$931,700)
1/4/2016 – 1/7/2016: JPY19 million (US$229,900)