Ten Stix, Inc.
X.X. Xxx 000
Xxxxx Xxxxxxx, XX 00000
This letter is to serve as an agreement between Ten Stix, Inc. and the
owners of Xxxxxxxx Xxxx
Whereas, the owners of Xxxxxxxx Xxxx own patent #5931471 (Xxxxxxxx Xxxx)
and would like Ten Stix, Inc. to have a non-exclusive representation agreement.
We each agree to the following terms:
1. Xxxx Xxxxxx of Xxxxxxxx Xxxx will have the final say on all pricing.
2. Xxxx Xxxxxx will order and supply at least all initial layouts and
approve all layouts.
3. The owners of Xxxxxxxx Xxxx agree to accept all licensing situations
that Ten Stix, Inc. proposes in regards to individual casino's rules and
regulations unless Xxxxxxxx Xxxx wants to get their own license.
4. The owners of Xxxxxxxx Xxxx agree to pay Ten Stix, Inc. 25% of all
leased revenues derived from contacts initiated by Ten Stix, Inc. and/or its
associates but with the principles of Xxxxxxxx Xxxx doing all training and
installation of said games. Furthermore, the owners of Xxxxxxxx Xxxx agree to
pay Ten Stix, Inc. a minimum of 40% of all leased revenues derived from casino
locations where Ten Stix, Inc. and/or its associates sell, train and install
Xxxxxxxx Xxxx.
5. The terms of this agreement shall be open ended; however, if either
party wishes to terminate this agreement, they can with a 60 day notice to the
other party and continued agreed-upon payments based on agreed-upon percentages.
Terms of this agreement are contingent upon Xxxxxxxx Xxxx being operational in
Xxxx Town, Las Vegas, Nevada no later than Feb. 1, 2001.
/s/ Xxxx X. Xxxxxx /s/ Xxx Xxxxxx
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Xxxx X. Xxxxxx Xxx Xxxxxx
Owner & CE, Xxxxxxxx Xxxx President, Ten Stix, Inc.
