Ratification and Extension Agreement
Exhibit 10.2.1
Ratification and Extension Agreement
THIS Agreement is made and entered into this 9th day of July, 2008, by and between Millennium Group Worldwide Incorporated, a Florida corporation with its principal place of business at 0000 X. 00xx Xxxxxx, Xx. Xxxxxxxxx, Xxxxxxx 00000 (“MGW”), and FRANKLIN AUTO MALL, INC. d/b/a Champion Chevrolet, Buick, Potomac, GMC with a principal place of business at 0000 Xxxxxx Xxxxx, Xxxxxxxx, Xxxxxxxx 00000 (hereinafter referred to as “Franklin Auto”),
WHEREAS, MGW have entered into a joint venture agreement dated November 16th, 2007 (the “Prior joint venture Agreement”);
WHEREAS, the Prior joint venture Agreement (in the RECITALS) was conditioned upon MGW obtaining adequate funding under its Form S-1 Registration, such period of time having already expired as a function of the registration and review process;
WHEREAS, both MGW and Franklin Auto, wish to ratify the Prior joint venture Agreement and extend the period that will satisfy the Recitals Section, Paragraph 4 and 5c condition as to timing.
NOW, THEREFORE, the parties agree as follows:
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1. |
MGW and Franklin Auto hereby ratify the Prior Joint Venture Agreement in all respects; |
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2. |
Recitals Section, Paragraph 5c relating to timing of funding is extended to August 15, 2008; and |
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3. |
This Agreement, together with the Prior Joint Venture Agreement as hereby incorporated by reference, constitutes the entire understanding between the parties relating to the subject matter hereof, and no amendment or modification to this Agreement shall be valid or binding upon the parties unless made in writing and signed by each party. |
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first written above.
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MILLENNIUM GROUP WORLD INCORPORATED |
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FRANKLIN AUTO, INC. |
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/s/ |
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/s/ Xxxxxx Xxxxxxx, Xx. |
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(Signature) |
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(Signature) |
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Xxxxxx Xxxxxxx, Xx, President |
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(Typed or Printed Name and Title) |
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S-1-7