Agreement
This Agreement is entered into as of December 30, 1998, by and between
Xxxxxxxxxxx XxXxx and Imaging Technologies Corporation ("ITEC").
ITEC is indebted to Xxxxxxxxxxx XxXxx in the amount of $20,000 for accrued
bonuses at December 30, 1998.
In accordance with this Agreement, Xxxxxxxxxxx XxXxx agrees to convert the full
amount of Twenty Thousand Dollars ($20,000) into Forty Thousand (40,000) shares
of ITEC Common Stock. These shares shall be made part of the next registration
statement to be filed by ITEC, which the Company expects to file by March 31,
1999.
Xxxxxxxxxxx XxXxx
/s/ Xxxxxxxxxxx XxXxx
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Xxxxxxxxxxx XxXxx
Imaging Technologies Corporation:
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
Chief Executive Officer
