Agreement
This Agreement is entered into as of December 30, 1998, by and between Xxxxxx
Xxxxxxxx and Imaging Technologies Corporation ("ITEC").
ITEC is indebted to Xxxxxx Xxxxxxxx in the amount of $20,000 for accrued bonuses
at December 30, 1998.
In accordance with this Agreement, Xxxxxx Xxxxxxxx agrees to convert the full
amount of Twenty Thousand Dollars ($20,000) into Forty Thousand (40,000) shares
of ITEC Common Stock. These shares shall be made part of the next registration
statement to be filed by ITEC, which the Company expects to file by March 31,
1999.
Xxxxxx Xxxxxxxx
/s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxxx
Imaging Technologies Corporation:
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
Chief Executive Officer
