September 14, 2010 Mr. Aik Fun Chong President & CEO Global MobileTech, Inc. Spokane WA 99201 Dear Mr. Chong Re: Exclusive Marketing, Distribution & License Agreement dated March 15, 2010
EXHIBIT 10.1
September 14, 2010
Mr. Aik Fun Chong
President & CEO
0000 Xxxxx Xxxxxx, Xxxxx 000
Xxxxxxx XX 00000
Dear Xx. Xxxxx
Re: Exclusive Marketing, Distribution & License Agreement dated March 15, 2010
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Reference is made to the Exclusive Marketing, Distribution & License Agreement (the “License Agreement”) between VyseTECH Asia Sdn Bhd and Trevenex Resources, Inc. and dated March 15, 2010.
This letter sets forth our understanding regarding an amendment to the provisions of the License Agreement concerning the payment of the fee amounting to US$500,000 within six months from March 15, 2010. This amendment will be effective as of the date hereof.
The parties hereby agree to amend the License Agreement as follows:
3.
License Fees
3.1
In consideration of rights granted by GRANTOR to GRANTEE under this Agreement, GRANTEE will pay GRANTOR the following:
3.1.1 Five Hundred Thousand Dollars (US$500,000) as a one time fee no later than March 15, 2011 which shall be non-refundable.
3.1.2 Deleted.
This Amendment, together with the License Agreement, constitutes the final, complete and exclusive statement of the agreement between the parties pertaining to their subject matter and supersedes any and all prior and contemporaneous understandings or agreements of the parties.
If the foregoing accurately sets forth our understanding, please so signify by signing below and returning a copy of this letter, whereupon it will take effect as an amendment to the License Agreement.
Yours sincerely
VYSETECH ASIA SDN BHD
/s/ Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx
Executive Director
ACCEPTED AND AGREED
By: /s/ Aik Fun Chong
Name: Aik Fun Chong
Title: Chief Executive Officer
Date: September 14, 2010
