Ratification and Extension Agreement
Exhibit
10.2.4
THIS Agreement is made and
entered into this 10th day of October, 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:
1. MGW
and Franklin Auto hereby ratify the Prior Joint Venture Agreement in all
respects;
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2.
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Recitals
Section, Paragraph 5c relating to timing of funding is extended to no
later than March 15, 2009, or immediately after the appropriate
funding is available from the offering;
and
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3.
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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.
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IN
WITNESS WHEREOF the parties hereto have executed this Agreement as of the date
first written above.
MILLENNIUM
GROUP WORLD INCORPORATED
/s/ Xxxxxx Xxxxxxx,
Xx.
(Signature)
Xxxxxx
Xxxxxxx, Xx, President
FRANKLIN
AUTO, INC.
/s/ Xxxxx
Xxxxxx
(Signature)
Xxxxx
Xxxxxx, President
