EXHIBIT J
LETTER OF INTENT TO COOPERATE IN A WIRELESS JOINT VENTURE
This Letter of Intent is made and entered into as of this 10th day of
December 1997 by and between Cetronic AB, Xxxxxxxxxx Xxxxxx 000, 000 00
Xxxxxxxxx, XXXXXX ("CETRONIC") and Socket Communications, Inc., 00000 Xxxxxxx
Xxxxx, Xxxxxx, Xxxxxxxxxx 00000, XXX ("SOCKET").
RECITALS
WHEREAS, CETRONIC and SOCKET are collaborating and working together on
developing three wireless business Products under terms of Development,
Manufacturing and Distribution Agreements covering the Radio Card dated October
1, 1996, the Compact Flash Wireless Messaging Receiver dated September 23, 1997
and the Mobile Data Information Server dated September 23, 1997;
WHEREAS, CETRONIC and SOCKET have developed other hardware and software products
related to and used with these Products and have developed know-how and
relationships important to the success of the wireless business;
WHEREAS, CETRONIC and SOCKET wish to combine the intellectual property and
assets associated with its wireless business into a new joint venture so as to
fully exploit the wireless business opportunity;
LETTER OF INTENT
NOW THEREFORE, in consideration of the premises hereof, the parties do hereby
agree as follows:
Socket Communications, Inc. and Cetronic AB intend to cooperate in a new joint
venture. Each Company will contribute the intellectual property and transfer
the assets associated with its wireless business. The objective of the new
entity is to fully exploit the wireless business opportunity. Details of the
arrangement will be worked out over the next ninety days, subject to approval of
the boards of directors of both companies.
IN WITNESS WHEREOF, the parties have duly executed this Letter of Intent as of
the 10th day of December 1997.
CETRONIC AB SOCKET COMMUNICATIONS, INC.
By: /s/ Xxxx Xxxxxxx By: /s/ Xxxxxxx Xxxx
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Name: Xxxx Xxxxxxx Name: Xxxxxxx Xxxx
Title: Director Title: Chairman
