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EXHIBIT 10.2
LICENSING AGREEMENT
FOR
PNEUMATIC HAND TOOL EXHAUST MUFFLER
Xxxxxx X. Xxxxxxxx hereby grants an exclusive license to Exhaust
Technologies, Inc. to manufacture, develop and market the
Pneumatic Hand Tool Exhaust Muffler (Patent #08/999,588) in the
United States as long as Exhaust Technologies, Inc. is in
compliance with the following conditions:
1. Exhaust Technologies, Inc. generates sales of the
Pneumatic Hand Tool Exhaust Muffler of $-0- in 1999,
$500,000 in 2000 and $1,000,000 for all years
thereafter.
2. Exhaust Technologies, Inc. has not filed bankruptcy nor
has been declared a bankrupt.
3. Exhaust Technologies, Inc. has not been acquired nor
merged into another company. If there is a merger or
sale of the Company, Sterlings must approve a license
transfer.
In consideration for granting this exclusive license, Xxxxxx X.
Xxxxxxxx will receive 3,350,000 shares of Exhaust Technologies,
Inc. common stock.
/s/ Xxxxxx X. Xxxxxxxx
Exhaust Technologies, Inc.
President
/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
