PALATIN AG
Xxxxxxxxxxxxxxxx 00
Xxxxxxxx 0000
XX-0000 Xxxxxx
Xxxxxxxxxxx
September 5, 1996
Xxxxxxx Xxxxxx
00 Xxxxx Xxxxx
Xxxxx Xxxxxx, XX 00000
Re: Purchase of Shares of Ecomat, Inc.
----------------------------------
Dear Xx. Xxxxxx:
This is to confirm our agreement that you hereby sell, transfer
and deliver the 840,000 shares of common stock, no par value, of Ecomat, Inc.,
owned by you and registered in your name, which comprise all the shares of
Ecomat owned by you, to Palatin AG in exchange for Palatin's payment to you of
$40,000.
If the foregoing correctly reflects our understanding, please so
indicate by signing your name in the space provided below.
Very truly yours,
PALATIN AG
By: /s/ XXXXXX XXXXXXXXX
____________________________
Xxxxxx Xxxxxxxxx
President
Accepted and agreed to as
of the date first above written:
/s/ XXXXXXX XXXXXX
__________________________________
Xxxxxxx Xxxxxx
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