EXCLUSIVE AGREEMENT
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BETWEEN: NEBO Products, Inc, of 00000 Xxxxxxx Xxxxxxxxx #000, Xxxxxx, XX and
XXXXXXXXXXXXXXXXXX, XXXXXXXXXXXXXXXX,* Taichung, Taiway, R.O.C.
SUBJECT: RH-3 Reversible ratcheting screwdriver (a.k.a. NEBO 13-in-1)
DATE: April 16th, 2001
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XXXXXXXXXXXXXXXXXXXXXXXXXXX and XXXXXXXXXXXXXXXXXXXX, the agent and factory,
which produce and distribute the RH-3 reversible ratcheting screwdriver agree
that they will assign the exclusive rights to distribute the RH-3 (13-in-1
screwdriver) in the United States only to NEBO Products and through our
associate, PMMI in Canada.
This agreement will take effect from April 1st, 2001, and will expire on March
31st, 2002. The agreement can be renewed annually on the expiration date upon
mutual agreement of all parties, subject to NEBO Products informing
XXXXXXXXXXXXXXXXXXXXXXXX and XXXXXXXXXXXXXXXXXXXXXXX of their intention to do so
three months prior to the expiration date.
NEBO Products agrees to purchase 26,640 dozen pieces during this period and to
pay XXXXXXXXXXXXXXXXXXXXX by T/T 45 days after the on-board date of each
shipment. NEBO further agrees to provide XXXXXXXXXXXXXXX with two to three
month's notice in advance of its orders.
XXXXXXXXXXXXXXXXXXXXXXXXXXX and XXXXXXXXXXXXXXXXXXXXXXX agree that they, staff
members or their agents will not sell/offer the RH-3 to any agent or company in
or out of Taiwan which deals directly or indirectly with any US manufacturer,
distributor, wholesaler, retailer or importer other than NEBO Products. Any
request for this product by any agent or U.S. company will be referred directly
to NEBO Products.
XXXXXXXXXXXXXXXXXXXXXXX will retain the rights if NEBO Products does not
accomplish the mutually established quota of 26,640 dozen pieces during this
period. However, any products manufactured by XXXXXXXXXXXXXXX that are too
similar in style to the RH-3 and RH-4 in options/designs or parts thereof, which
are offered to competitors here in the United States, may result in NEBO
Products inability to carry out the full quota of the 26,640 dozen pieces. In
such an instance NEBO Products would still retain the exclusive rights to the
RH-3 but the quota of 26,640 dozen would be reassessed in agreement between
XXXXXXXXXXXXX and NEBO Products
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XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Date
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XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Date
/s/ Xxxxx Xxxxxx April [illegible], 2001
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Xxxxx Xxxxxx- CEO NEBO Products, Inc. Date
* Confidential treatment of redacted material sought on May 15, 2001,
pursuant to SEC Staff Legal Bulletin No. 1. The information has been filed
separately with the SEC pursuant to the confidential treatment request.
