Академический Документы
Профессиональный Документы
Культура Документы
SERVICES AGREEMENT
BETWEEN
ARAMCO AFFILIATED SERVICES COMPANY
AND
SAUDI ARABIAN OIL COMPANY (SAUDI ARAMCO)
This Services Agreement (“Agreement") is made and entered into by and between:
WITNESSETH:
WHEREAS, AASC has available certain offices and other general administrative
support facilities in North America and represents that it is authorized to render sen/ices
as described herein;
WHEREAS, both parties desire to establish and set forth the terms, provisions
and conditions to govern the rendition of such services;
1. SERVICES BY AASC
AASC, to the extent it is able and permitted to do so, shall provide, furnish or
perform for SAUDI ARAMCO, either itself or by arrangements with its affiliates or
others, services (services provided by AASC or its affiliates, “Internal Services,”
by third parties, ‘Third Party Services" and all collectively referred to herein as
2. COMPENSATION
For the Services specified in Paragraph 1 above, SAUDI ARAMCO shall pay
AASC as follows:
a. Reimburse AASC for the cost of each Service as agreed in each Service
Authorization; and
b. Pay to AASC a fee equal to five percent (5%) of the costs to be reimbursed to
AASC by SAUDI ARAMCO.
c. The amounts set forth in Paragraphs 2.a. and 2.b. constitute the entire
compensation to AASC for the services performed hereunder.
d. AASC will invoice SAUDI ARAMCO periodically throughout the course of the
fiscal year, but no more frequently than monthly.
e. All invoices issued here under shall be sufficiently detailed to clearly describe
what is being invoiced and allow for efficient audit of the invoices and
payments. All invoices shall be in the English language.
f. Should SAUDI ARAMCO object tp any item contained in any invoice, or to the
sufficiency of the documents submitted in support of any such item, SAUDI
ARAMCO shall be entitled to withhold payment for the amount attributable to
the item or substantiating documents to which SAUDI ARAMCO objects.
Should such payment be withheld, SAUDI ARAMCO shall notify AASC
promptly in writing of its objection, and SAUDI ARAMCO shall promptly pay
AASC that portion of the invoice amount, which is properly due and payable.
The Parties shall coordinate to resolve disputed items in a timely manner.
g. Given lags in the collection and reporting of accounting data, both Parties
acknowledge that errors may occur in the calculation of compensation.
Consequently, AASC may from time to time over the course of the year
calculate and invoice an adjustment amount to SAUDI ARAMCO in order to
true up cumulative compensation earned by AASC. Such true up invoices will
include calculations demonstrating how the adjustment amount is needed to
bring compensation back into line with agreed amount.
Each Party shall keep complete records and books of account showing all
expenditures of every kind and nature made by each under this Agreement. All
such books and records shall be kept in a manner sufficient to accurately reflect
Costs incurred under this Agreement an$ shall be open to each Party at any and
all reasonable times for the purpose of inspection and audit.
5. INDEMNITY
Each party shall be responsible and hold harmless and indemnify the other party from any
and all claims, losses, expenses, costs or damages suffered or incurred by either party as
a result of the negligence or fault of the party, its Contractors, subcontractors and
suppliers or the personnel of any of them. Both parties agree that it shall promptly act
and do all the necessary actions to defend, upon the other's demand and without
counterclaim or setoff, any valid claim that it may have by reason of the provisions of this
paragraph.
6. INDEPENDENT CONTRACTOR
In performing this Agreement, AASC and SAUDI ARAMCO agree to comply fully
with all applicable laws.
8. TAXES
Each Party hereto shall be fully responsible for, and shall pay when due any and
all zakat, taxes, assessments, levies, imposts, duties, excises and the like,
including any fines and penalties related thereto (collectively, “Taxes”), imposed,
levied or assessed upon such Party as a result of or related to this Agreement, or
arising out of such Party’s activities under this Agreement.
9. EXCUSABLE NON-PERFORMANCE
This Agreement shall be binding upon and inure to the benefit of the successors
and assigns of the Parties to this Agreement; provided, however, that this
agreement may neither be assigned nor transferred, either in whole or in part, by
AASC or SAUDI ARAMCO without first obtaining the written consent of the other
Party.
11. NOTICES
Either Party may change its address by giving written notice of such change to
The terms and provisions of this Agreement constitute the entire understanding
between the Parties with respect to.the matters and transactions contemplated
hereby, and shall not be amended except by a written agreement signed by both
of them and no promise, agreement or representation, not herein set forth, shall
be of any force dr effect between them.
14. CONFIDENTIALITY
During the term of this Agreement and thereafter for a period often (10) years
from the date of expiration or termination of this Agreement, the Parties shall not
divulge, and shall use their best efforts to cause their shareholders, directors,
officers, employees and agents not to divulge, to any other person, firm or
corporation, except to persons designated by a Party, any confidential business
dr secret information disclosed by one Parly to another, its affiliates, or their
personnel, or obtained from any source whatsoever with respect to either Party,
during the term of this Agreement. The obligations set forth in this paragraph are
continuing ones and shall survive the expiration or termination of this Agreement.
This Agreement is effective as of October ___ , 2016 and shall continue in effect
from then until terminated by either Party by written notice to the Other delivered
at least thirty (30) days prior to the effective termination date stated in such notice.
In relation to this Agreement and all related communication and documentation,
all dates, years and time periods shall be determined using the Gregorian
calendar, unless specifically stated otherwise.
shall create a valid and binding obligation of the party executing with the same
force and effect as a signed original.
By:
j\ Name: Nasser A, Al Nafisee
Title: Vice President, Corporate Affairs
SCHEDULE A
Attention: B. A. Abul-Hamayel
Sir/Madam:
By this letter we request that you perform the following services in accordance with the Services
Agreement between us effective September__ , 2016 (“Services Agreement’') and subject to the terms
and conditions therein and herein contained.
Description of Services:
[Detailed and precise description of services here]
Financial Limitations:
[Any specific financial limitations relating to this request to be included here]
[To the extent necessary and required for the execution of the services requested herein, AASG is hereby
authorized to disclose SAUDI ARAMCO information to relevant Third Parties. AASC shall ensure that
all such Third Parties are subject to confidentiality terms and conditions as those stated in Article 14 of
the Services Agreement. Any information specifically permitted or exempted from disclosure should be
mentioned in this section. This will be dependent on the nature of the services requested. If no specific
information is required or identified, then paragraph can remain as drafted. Once finalized, this paragraph
should be included in the AASC services acceptance form attached on Schedule B.]
Contact Information:
[Complete contact information for department and requester of services]
The services to be performed pursuant to AASC Services Authorization Form relating to this Service
Request shall commence on or about:and shall be completed on or about
If the terms of this Service Request are acceptable to you, please provide us with a Services Authorization
Form, confirming your ability to provide the requested Covered Services and an estimate of the total costs
By:
Title:
9 /
SCHEDULE B
Gentlemen,
By this letter, which we send you in duplicate, we confirm Arameo Services Company’s (AASC)
willingness to provide the requested services in accordance with the Services Agreement dated
September__ ,2016 between us and subject to the terms and conditions therein and herein
contained.
Description of Services:
[Include confidentiality paragraph found in specific terms and conditions of the form for request
of services.]
Invoicing:
Invoices for Services within this Service Authorization will be sent to:
[SAUDI ARAMCO, Address,-Attn: ]
10
Documentation:
AASC will provide SAUDI ARAMGO with supporting documentation for charges related to
services provided.
Contact Information:
Aramco Affiliated Services Company: Saudi Arabian Oil Company (Saudi Aramco):
Yours sincerely,
President
Aramco Affiliated Services Company
Date:
[Name]
Authorized Representative
Saudi Arabian Oil Company (Saudi Aramco)
Date:
Distribution:
Please find attached Aramco Affiliated Services Company’s (“AASC”) Supplemental Statement
for the period ending November 30, 2017. As discussed with FARA personnel in the past month,
AASC is providing this letter as further explanation regarding the late filing of this statement,
which was originally due on December 30,2017.
In late August of 2017, Houston was hit by Hurricane Harvey. This weather event resulted in
extreme flooding throughout the area, including of AASC’s offices. The devastation was so severe
that the company was never able to resume operations in those offices, but instead had to seek
temporary space over the course of the following months in various locations. It was only at the
beginning of April 2018 that AASC moved into permanent office space and has been able to
recover all of its files and materials required to make the attached filing.
Please note, as stated in the Supplemental Statement, that AASC’s new permanent address is as
follows: ,
Should you have any questions concerning this filing or otherwise, I welcome your call.
Sincerely,
Bobby J. Horton
Attomey-in-Faet