Agreement
This Agreement is entered into as of December 30, 1998, by and between Xxxxx
Xxxxx and Imaging Technologies Corporation ("ITEC").
ITEC is indebted to Xxxxx Xxxxx in the amount of $80,000 for accrued vacation,
commissions and other liabilities at December 30, 1998.
In accordance with this Agreement, Xxxxx Xxxxx agrees to convert the full amount
of Eighty Thousand Dollars ($80,000) into One Hundred Sixty Thousand (160,000)
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.
Xxxxx Xxxxx
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
Imaging Technologies Corporation
/s/ Xxxxxxxxxxx XxXxx
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Xxxxxxxxxxx XxXxx
Vice President, Operations and Finance
/s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx
Senior Vice President
