EXHIBIT 10.1
Description of Oral Agreement
To Provide Funding to
Organic Spice Imports, Inc.
Xxx Xxxxxxx and Xxxxxx Xxxxxxx, both of whom are officers and directors of
Organic Spice Imports, Inc. (the "Company") have orally agreed to provide the
necessary funds for the Company to comply with the 1934 Act reporting
requirements and to complete a business combination between the Company and an
as yet unidentified operating business. The terms and conditions of this
agreement are as follows:
The individual providing the funds, whether Xx. Xxxxxxx or Xx. Xxxxxxx,
must be an officer and director of the Company when the obligation is
incurred.
The funds provided will be from personal funds.
The funds will be provided as interest free loans to the Company or as
capital contributions.
Neither Xx. Xxxxxxx nor Xx. Xxxxxxx has, as of the date hereof, set a
maximum dollar amount that they are willing to provide to the Company.
