Agreement
This Agreement is entered into as of December 30, 1998, by and between Software
Technologies, Inc., #501 Dongwoo Bldg., Kangnam Gu., Seoul, Korea 135-080 Xx.
Xxx Xxxxx Xxx, President ("STI"), and Imaging Technologies Corporation ("ITEC").
ITEC is indebted to STI in the amount of $500,000 at December 30, 1998 and STI
is indebted to ITEC in the amount of $120,000 at December 30, 1998. 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.
In accordance with this Agreement, STI agrees to convert the full amount of Five
Hundred Thousand ($500,000) into One Million (1,000,000) shares of ITEC Common
Stock.
In addition, in accordance with this Agreement, STI agrees to remit in full the
amount of $120,000 to ITEC prior to March 31, 1999.
Software Technology, Inc.:
/s/ Woo X. Xxx
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Xx. Xxx Xxxxx Xxx
President
Imaging Technologies Corporation:
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
Chief Executive Officer
