This letter is intended as a binding agreement between SPDG Naturol and Integrated Environmental Technologies Ltd.
SPDG Naturol Ltd
This letter is intended as a binding agreement between SPDG Naturol and Integrated Environmental Technologies Ltd.
We the undersigned commit to enter into a Joint Venture agreement to develop a production capability for the SPDG Naturol Technology in North America.
As part of this agreement SPDG Naturol will provide:
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Product and Process
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Equipment
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Training
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Expertise
Integrated Environmental Technologies Ltd for its part, commits to procuring the above mentioned services exclusively from SPDG Naturol.
The Agreement will be based on a product by product basis, for each product an agreement letter will be signed and issued by SPDG Naturol.
The Compensation package due to SPDG Naturol for the provision of the technology transfer, will be negotiated on a product by product basis, and will also be subject to the issuance of a signed letter of authority.
Signed on behalf of Signed on behalf of
Integrated Environmental SPDG Naturol
Technologies Ltd.
/S/Xxxxxxx X. Xxxxxx /S/Xxxxxxx X. Xxxxxxxxxx
Xxxxxxx X. Xxxxxx Xxxxxxx X. Xxxxxxxxxx
President and CEO Chairman
Date: October 14, 2003 Date: October 14, 2003
SPDG Naturol Ltd. Tel (00) 00000-00000 Fax (00) 00000-00000
Registered Office: The Coach House, Main Street Kirkby Lonsdale, Cumbria
United Kingdom LA6 2AQ Registered in England No. 4830874