EXCLUSIVE AGREEMENT
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BETWEEN: NEBO Products, Inc, of 00000 Xxxxxxx Xxxxxxxxx #000, Xxxxxx, XX and
Taiwan Zest Industrial Company, Ltd., of Xx.0 Xxxx 000, Xxx Xxxxx
Xxxxxx, Xxx Xxx District, 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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TAIWAN ZEST INDUSTRIAL CO. LTD., and XXXXX XXXXX ENTERPRISES LTD., 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 Taiwan Zest
Industrial Company Ltd. and Meeng Gang Enterprise Co. Ltd. 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 Taiwan Zest by T/T 45 days after the on-board date of each shipment. NEBO
further agrees to provide Taiwan Zest with two to three month's notice in
advance of its orders.
Taiwan Zest Industrial Co. Ltd and Meeng Gang Enterprises Ltd. 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.
Taiwan Zest 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 Meeng Gang 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 Taiwan Zest and NEBO
Products
/s/
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Song Xxxx Xxx- President Meeng Gang Enterprise Co. Ltd. Date
/s/
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Xxxx Xx- President of Taiwan Zest Industrial Co. Ltd. Date
/s/ Xxxxx Xxxxxx April [illegible], 2001
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Xxxxx Xxxxxx- CEO NEBO Products, Inc. Date
