TECHNOLOGY OPTION AGREEMENT - THIRD EXTENSION
Exhibit 10.10
MemPore/FirstBingo | Technology Option Agreement - THIRD EXTENSION |
TECHNOLOGY OPTION AGREEMENT - THIRD EXTENSION
B E T W E E N :
MEMPORE CORP.
a corporation under the Canada Business Corporations Act
(“MemPore”)
-and-
SOUTH SHORE RESOURCES INC. (formerly XXXXXXXXXX.XXX)
a corporation under the law of Nevada, U.S.A.
(the “Developer”)
WHEREAS MemPore and the Developer entered into an Technology Option Agreement (“TOA”) under which the Developer will explore opportunities for commercial use of MemPore’s technology, and the Term of the TOA was defined to be from October 1, 2006 to March 31, 2007, and which was subsequently extended to September 30, 2007 and then to December 31, 2007;
AND WHEREAS MemPore requires more time to perform its obligations required by the TOA;
THEREFORE in consideration of the mutual covenants contained herein and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged by each of the parties hereto), the parties hereto agree as follows:
1. |
The “Term” as defined in the TOA shall be extended until February 28, 2008. |
2. |
The parties agree to discuss terms and conditions of a licensing agreement during January and February, 2008 if the technology development and testing is a success. |
3. |
In all other respects, the parties ratify and confirm the TOA. |
4. |
This Agreement shall be incorporated into and form part of the TOA. |
5. |
This Agreement may be executed in two counterparts, each of which shall be deemed an original, but both of which together shall constitute a single agreement. |
IN WITNESS WHEREOF each of the parties hereto has entered into this Agreement as of the date and year of the last signature below:
MEMPORE CORP. | SOUTH SHORE RESOURCES INC. | ||||
per: | XXXXX XXXXXX | per: | XXXXXXX XXXXXXX | ||
Xxxxx Xxxxxx, President | Xxxxxxx Xxxxxxx, President | ||||
Date: | January 17, 2008 |
Date: |
January 17, 2008 |