Boxlight/Projectavision
Agreement
o Projectavision will grant Boxilght a one (1) year exclusive agreement on
sales of the Projectavision Digital Home Theater(TM) product to the
commercial channels of distribution.
o Boxlight projects unit sales equal to 10,000 Digital Home Theater(TM) units
over a 15 month period, commencing with the Initial shipment of Digital
Home Theater(TM) product to Boxlight (not to include sample shipments).
o Boxlight will supply Projectavision with non-cancelable orders 90 days from
ship date.
o At the time of receipt of shipments from Projectavision, and only for the
first 9 months of shipments, payment by Boxlight to Projectavision will be
on receipt of shipments, and via electronic transfer.
o Boxllght's cost for the Digital Home Theater(TM) product from
Projectavision will be $5,200, assuming no additional cost increases from
suppliers of raw materials. Both Projectavision and Boxlight will share any
cost increases or decreases.
o Projectavision will grant Boxlight a warranty of 1 year for both parts and
labor.
o Boxlight will purchase 4 units for evaluation, and Projectavision will ship
the product as soon as possible.
o Projectavision will work with the product planning personnel at Boxlight to
differentiate the current Projectavision product, in addition developing a
plan for including PAL for international sales of Boxlight branded product
by Projectavision.
o Both Projectavision and Boxlight will man the Projectavision booth at
lnfocomm. Projectavision will absorb the expense of the booth and related
costs, while Boxlight will pay for the space. Boxlight graphics will be
added to the Projectavision booth.
o Boxlight will press release some detail regarding the Projectavision
agreement, on or about May 15, 1997. Projectavision may also press release
information regarding the agreement. Both companies will receive copies of
all releases prior to any public announcement.
o Projectavision will advise their sales reps that all sales to
commercial-type dealers or distributors, will be filled through Boxlight.
Should a Projectavision rep sell a commercial account, the sale will
immediately become Boxlight's sale. In turn, Boxlight and Projectavision
will equally share the 4% commission normally paid to the Projectavision
sales rep. Sales made by Projectavision retailers to commercial-type
accounts cannot be assigned to Boxlight.
/s/ Xxxxxx X. Xxxxxxxx /s/ Xxxxxxx Xxxxx
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Xxxxxx X. Xxxxxxxx Xxxxxxx Xxxxx
President/CEO President
Projectavision, Inc. Boxlight Corporation
Date 5/12/97 Date 5/13/97
