GlobeX Data Ltd. reported that it has signed a Distribution Agreement for a distribution deal in Sri Lanka with Dialog Broadband Networks (Private) Limited, part of Sri Lanka based Dialog Axiata PLC, itself part of Malaysia based telecom giant Axiata Group Berhad. The terms of the Distribution Agreement are in accordance with general telecom operator distribution agreements and are based on revenue-share model where all sales revenues are shared among the telecom operator and the Company. Both the Company and the telecom operators sign strict Non-Disclosure Agreements and details of the terms need to remain confidential. The term of the distribution agreement is set for one (01) year, commencing on the Effective Date of the signed agreement and may thereafter be automatically renewed on a yearly basis unless, under the same renewal terms basis unless terminated by either Party with sixty (60) days written notice before termination. If either Party breaches a material provision of this Agreement, the other Party may immediately terminate this Agreement upon written notice to the other Party.