INTERNATIONAL LICENSE AGREEMENT executed on June 30th, 2005.
BETWEEN: WKF 5 LTD., a corporation existing under the laws of MALTA;
represented by Xxxx Xxxxxxxx Xxxxxxxx, duly authorized as he
declares
(hereinafter referred to as "Licensor")
AND: XL GENERATION AG, a corporation existing under the laws of
SWITZERLAND, duly represented by Xxxxxx Xxxxxx, duly authorized as
he declares
(hereinafter referred to as "Licensee")
AND XXXXX XXXXXXX, duly authorized to sign on behalf of the Fiducie
Xxxxx Xxxxxxx
PREAMBLE
WHEREAS Section 5.1 of the License Agreement signed on January 1st, 2005,
provides for the determination of the Initial License fee before June 30th,
2005, 2005.
WHEREAS The parties have agreed on the amount to be paid. Licensor possesses
certain intellectual and industrial property rights;
WHEREAS The amount to be paid under section 5.1 shall represent the amount due
by Fiducie Xxxxx Xxxxxxx to XLGeneration AG as of December 31st, 2004.
THE PARTIES HERETO AGREE AS FOLLOWS:
The Parties hereby confirm that the Initial License Fee is the amount of four
hundred and seventy thousand six hundred and ninety five dollars in Canadian
currency (470,695$ CDN).
This amount shall be payable exclusively by the assignment of the aggregate of
all the amount owed by Fiducie Xxxxx Xxxxxxx to XLGeneration AG as of December
31st, 2004.
WKF / 5 Ltd will transfer its bank coordinates in due time to Fiducie Xxxxx
Xxxxxxx.
Xxxxx Xxxxxxx, as the representative of Fiducie Xxxxx Xxxxxxx, is hereby,
accepts the assignment of debt and that any amount payable to XLGeneration AG by
Fiducie Xxxxx Xxxxxxx is hereby and now owed to WKF / 5 Ltd exclusively.
SIGNATURES
WKF 5 LTD
/s/ Xxxx Xxxxxxxx Xxxxxxxx
-----------------------------------
per: Xxxx Xxxxxxxx Xxxxxxxx,
Director (duly authorized)
XL GENERATION AG
/s/ Xxxxxx Xxxxxx
-----------------------------------
per: Xxxxxx Xxxxxx,
Direct (duly authorized)
XXXXX XXXXXXX
/s/ Xxxxx Xxxxxxx
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