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EXHIBIT 10.1
LICENSING AGREEMENT FOR TURBOLATOR
Xxxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx hereby grant an
exclusive license to Exhaust Technologies, Inc. to manufacture,
develop and market the Turbolator (Patent #5,355,673) in the
United States as long as Exhaust Technologies, Inc. is in
compliance with the following conditions:
1. Exhaust Technologies, Inc. generates sales of the
Turbolator of $-0- in 1998, $-0- in 1999, $1,000,000 in
2000 and $1,000,000 for all years thereafter.
2. Exhaust Technologies, Inc. has not filed bankruptcy nor
has been declared a bankrupt.
3. Exhaust Technologies has not been acquired nor merged
into another company. If there is a merger or sale of
the Company, Sterlings must approve a license transfer.
In consideration for granting this exclusive license, the
Sterlings will receive 1,000,00 shares of Exhaust Technologies,
Inc. common stock
/s/ Xxxxxx X. Xxxxxxxx
Exhaust Technologies, Inc.
President
/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
/s/ Xxxxxxx X. Xxxxxxxx
Xxxxxxx X. Xxxxxxxx
