MEMORANDUM of UNDERSTANDING
Between
BRISK SOLAR INC. a division of FEC
Finance Energy Corp a corporation incorporated pursuant to the laws of
the Province of British Columbia, Canada, with its registered office located in
Kelowna, BC, Canada
And
CASCADE TECHNOLOGIES CORP., (“CTC”)
a corporation registered pursuant to the Laws of the State of Wyoming,
United States, with its business office located in Lakewood, Colorado,
USA.
Whereas:
BSI is the developer and
manufacturer of certain solar energy related products and services referred to
as “Solar to Go Solutions”, hereinafter referred to as “the Products and
Services” and described in Schedule “A” attached hereto; and
CTC desires to acquire the
exclusive license and right to market the Products and Services in the United
States and to sell other performance licensing agreements in the United
States.
Now
therefore, BSI and CTC herby agree as follows:
|
1.
|
BSI
will grant to CTC the license and right to market the Products and
Services in exchange for Six Million (6,000,000)
Common Voting shares of CTC.
|
|
2.
|
The
license and right to market the Products and Services will be exclusive to CTC for
the United States
including any and all sales to Home
Depot.
|
|
3.
|
The
license and right to market the Products will be granted to CTC under a
performance basis for a term of 25 years with a 25 year option
to renew.
|
|
4.
|
CTC
shall also have the right to market the Products and Services Globally on
a wholesale basis and maintain contracts Globally. CTC will have the right
to maintain and own service contracts under the CTC name on a Global
basis, excluding Africa.
|
|
5.
|
CTC
will purchase all the Products from BSI at pre-determined wholesale
prices.
|
1
During
the term of this Memorandum, BSI and CTC will continue negotiations with the
intention of completing and executing a Definitive License and Distribution
Agreement.
This
Memorandum will come into effect from the date of signing by both parties, and
will remain valid for 30 days. In the event that the Definitive
Agreement is not executed by the end of this 30 day period, then this Memorandum
shall expire and neither BSI nor CTC shall have any rights or any obligations
under this Memorandum.
This
Memorandum represents the understanding of both the parties to work together on
the above-mentioned points.
IN
WITNESS WHEREOF, the parties have executed this Memorandum of Understanding
this 30th day of April, 2009.
BRISK
SOLAR INC.
/s/
Xxx
X Xxxxxxx
President
/s/
Xxxxxx Xxxxx
President
2
SCHEDULE
A
PRODUCTS
AND SERVICES
Solar
Home Package
Solar
Phone Booth Kit
Solar
Water Pumps
Solar
Roof Top Panels
Solar
Water Heater
3
