ROCKET
COMPOSITES
xxx.xxxxxxxxxxxxxxxx.xxx
Distribution agreement between:
Rocket Composites Ltd. and Xxxxxxxxxx.xxx Inc. 18th July 2001
Parties, Xxxxxxxxxx.xxx Inc. and Rocket Composites Ltd. Enter into this
agreement detailed below for a period of Five Years. No alteration may be made
unless by joint written agreement.
1. That Rocket Composites Ltd. gives Xxxxxxxxxx.xxx Inc. the license to market
and sell products manufactured in Carbon Fiber and other Composites
Structures within the entire North American Continent, European Economic
Community and rest of the World markets.
2. That Xxxxxxxxxx.xxx Inc. will not sell any other product manufactured by
any other entity unless by agreement with Rocket Composites Ltd. nor cause
the products manufactured by Rocket Composites Ltd. to be marketed for a
purpose that they were not designed for.
3. That Rocket Composites Ltd. will not grant a license to distribute its
products to any other entity within the designated areas for a period of
Five Years providing best efforts are made to market and sell products.
4. That both Xxxxxxxxxx.xxx Inc. and Rocket Composites Ltd. agree to
co-operate and offer every assistance to one another for their mutual
benefit it in the research, design, production, marketing and sales of
composite products.
5. That Xxxxxxxxxx.xxx Inc. will agree to keep secret the proprietary process
of manufacture, sign the non-disclosure agreement and understand that any
willful or careless disclosure of the process and secrets or breach of
clause 2 and/or 6 will cause this agreement to be void. Rocket Composites
Ltd. reserves the right to withdraw from this agreement if it considers
there to be any breach in the word or spirit of this contract.
6. All designs, tooling, processes and rights to manufacture remain the sole
property and right of Rocket Composites Ltd.
7. Rocket Composites Ltd. grants Xxxxxxxxxx.xxx Inc. first right to purchase a
majority shareholding in Rocket Composites Ltd. if Rocket Composites Ltd.
desires to sell.
Xxxxxxxxxx.xxx Inc. Rocket Composites Ltd.
/s/ X. Xxxxxx /s/ X. Xxxx
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X. Xxxxxx President X. Xxxx Company Secretary
