SPECTRUM PLASTICS, INC.
SPECTRUM PLASTICS, INC.
March 27, 2008
Xx. Xxxxxxx Xxxxx
Perf-Go Green, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Exclusive Manufacturing Arrangement
Dear Xx. Xxxxx:
This letter is to confirm our mutual understanding and agreement concerning the manufacture by Spectrum Plastics, Inc. (“Spectrum”) of certain biodegradable plastic products on behalf of Perf-Go Green, Inc. (“Perf’). Commencing the date hereof, Spectrum shall manufacture and ship the biodegradable plastic products set forth on Schedule A annexed hereto, which may be amended upon the parties mutual agreement, (the “Products”) exclusively for Perf. This exclusivity right shall continue for so long as Perf purchases, on a monthly basis, not less than five standard cargo containers in the aggregate of Products, (the “Minimum Purchase Requirement”) commencing 180 days from the date hereof. During the initial 180 day period following the execution of this letter, Perf shall not be required to purchase the Minimum Purchase Requirement.
All Products shall be manufactured to specifications mutually agreed upon between Perf and. Spectrum. Pricing and terms of sale for Products shall be mutually agreed upon between Perf and Spectrum at the time of the placing of orders. Please acknowledge your acceptance of the foregoing where indicated below.
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Very Truly Yours, |
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/s/ Xxx Xxxx |
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Xxx Xxxx |
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Chief Executive 0fficer |
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AGREED UPON AND ACCEPTED: |
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PER-GO GREEN, INC. |
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By: /s/ Xxxxxxx Xxxxx |
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Xxxxxxx Xxxxx, Chief Executive Officer |
00000 Xxxxxx Xxxxx • Xxxxxxxx, XX 00000
Tel (000) 000-0000 • Fax (000) 000-0000 • xxx.xxxxxxxxxxxx.xxx
SPECTRUM PLASTICS, INC.
Schedule A
Biodegradable sixteen gallon, extra tall kitchen garbage bags manufactured with TDPA.
Biodegradable thirty-three gallon, extra tall kitchen garbage bags manufactured with
TDPA.
Biodegradable commercial garbage bags (various sizes for office buildings and for municipalities, parks and beaches) manufactured with I1DPA.
Biodegradable kitty litter liner bags manufactured with TDPA.
Biodegradable plastic drop cloths manufactured with TDPA.
Biodegradable disposable diapers (baby and adult Sizes) manufactured with TDPA.
Any other mutually agreed upon biodegradable product manufactured with TDPA or any other additive designed to facilitate biodegradability.
00000 Xxxxxx Xxxxx • Xxxxxxxx, XX 00000
Tel (000) 000-0000 • Fax (000) 000-0000 • xxx.xxxxxxxxxxxx.xxx
April 8, 2008
Xxx Xxxx
President
Spectrum Plastics, Inc.
00000 Xxxxxx Xxxxx
Xxxxxxxx, XX 00000
Re: Perf-Go Green, Inc.
Dear Xx. Xxxx:
In consideration of Spectrum Plastics, Inc. (“Spectrum”) agreeing to serve as the exclusive manufacturing and distribution partner for Perf-Go Green trash bags worldwide, the Company intends to issue the Company options to purchase 30,000 shares of its Common Stock on a monthly basis at an exercise price of $.50 per share pursuant to its soon to be adopted equity incentive plan containing a cashless exercise provision. 30,000 options shall be issued each month for a period of two years. Copies of the equity incentive plan as well as the non-qualified stock option agreement will be provided to you as soon as they are available. If the foregoing reflects your current intentions, please sign this letter where indicated below. We look forward to a long and mutually rewarding relationship with you. This letter constitutes the entire agreement between the parties regarding the subject matter contained herein and supersedes all prior and contemporaneous undertakings and agreements of the parties, whether written or oral, with respect to the subject matter herein.
Very truly yours,
/s/Xxxxxxx Xxxxx
Xxxxxxx Xxxxx, Chief Executive
Officer
AGREED AND ACCEPTED:
SPECTRUM PLASTICS, INC.
/s/ Xxx Xxxx
Xxx Xxxx, President
00000 Xxxxxx Xxxxx • Xxxxxxxx, XX 00000
Tel (000) 000-0000 • Fax (000) 000-0000 • xxx.xxxxxxxxxxxx.xxx
