AGREEMENT ON BUSINESS RIGHTS TRANSFER
between
Eurotech Capital Ventures Ltd.
and
WiMAX EU, Ltd.
Dated November 10, 2004
Introduction
Eurotech Capital Ventures Ltd. desires to enter into a business arrangement
with WiMAX EU, Ltd. (hereinafter WiMAX EU) for the development and
commercialization of its technology and business strategies on a global basis.
This agreement confirms the rights and the duties of the relating two
parties regarding to a business right transfer for the development and the
exclusive marketing territory of the Eurotech Capital Ventures Ltd. wireless
internet plan and its technology concepts.
The following are the basic terms of the agreement:
1. Time and Territory
Eurotech Capital Ltd. shall transfer its URL's and business strategy to
WiMAX EU for the implementation of a new business for
(a) Time Frame: 99 years
(b) Territory: Global
2. Limitation
WiMAX EU will assure Eurotech Capital Ventures Ltd. that it will not
implement any business strategies outside the scope of this agreement unless
including revenues generated by said strategies into the totals pursuant to this
agreement.
And WiMAX EU while it shall own the business model agreed to, in perpetuity
bankruptcy or other complete business closures shall cause the URL's and
business strategy to revert to Eurotech Capital Ventures, Ltd. if royalty
payments are in arrears. Further, WiMAX EU agrees that in promotion of its
business plan or, should it become publicly traded, their stocks at all times
comply with all relevant regulations. If at any time the control of this
business strategy is interfered with by anyone or any entity owned or controlled
by principals or affiliates of Eurotech, this agreement can be voided by WiMAX
EU and/or its transferees.
3. Consideration
In exchange for technology & business right transfer, manufacturing
technology and exclusive marketing territory, Atlantic, as consideration for the
above technology, manufacturing rights and exclusive marketing territory, shall
pay the following consideration to Eurotech Capital Ventures Ltd.
(a) WiMAX EU will issue 100,000 shares of common stock unregistered to
Eurotech Capital Ventures Ltd. prior to execution of this agreement in
consideration of this agreement.
(b) WiMAX EU agrees to pay Eurotech Capital Ventures Ltd. upon initial
capitalization, $50,000 in cash plus a perpetual overriding royalty on all
gross revenues generated by the company of 1.5%. This royalty will be paid
quarterly as designated from time to time by Eurotech Capital Ventures Ltd.
Agreed
/s/ Xxxxxx Xxxxxxxx /s/ Xxxxxxxxxxx Xxxxx
------------------- ---------------------
Director Xxxxxxxxxxx Xxxxx
Eurotech Capital Ventures Ltd. President
WiMAX EU, Ltd.
Dated November 10, 2004 Dated November 10, 2004
