LICENSE RENEWAL AGREEMENT
THIS LICENSE RENEWAL AGREEMENT ("Agreement") is made and effective as of August
15, 2002 by and between Xxxxxxxxxxxxxxx.xxx Corp., a Nevada Corporation
("Grantor"), and Netco Investments Inc. ("Licensee"), with reference to the
following facts:
1. Grantor and Licensee entered into a license agreement dated March 15, 2000
(the "License") for the rights to sell within the Territory of
Massachusetts certain Products from various suppliers on Grantor's Web
Site.
2. The License provides for annual maintenance fees for the maintenance of
Grantor's Web Site of $500 (the "Annual Fee(s)"). Grantor hereby
acknowledges receipt of the Annual Fee for the year ended March 14, 2002
and waives any Annual Fees which are past due. Licensee undertakes to pay
all Annual Fees from the date of this Agreement on a timely basis, on or
before the anniversary date of the original License.
3. Paragraph 16 of the License provides for automatic renewals of the License
absent notice of either party to the other of intent not to renew. Grantor
hereby confirms renewal of the License for three years from the date of
this Agreement.
4. Notice. Any notice required to be given under the terms of this Agreement
-------
shall be sent as follows:
If to Xxxxxxxxxxxxxxx.Xxx, Inc.: Xxxx X. Xxxxxx
XX Xxx 0000
Xxxxx, XX 00000-0000
If to Licensee: Netco Investments Inc.
# 0000- 0000 Xxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx Xxxxxx X0X 0X0
Notice shall be deemed effective upon receipt if made by confirmed
telecopy, personal delivery or 48 hours after deposit in the United States
mad with the required postage.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of
the date first above written.
NETCO INVESTMENTS INC. XXXXXXXXXXXXXXX.XXX CORP.,
A NEVADA CORPORATION
______________/s/___________________ By:____________/s/________________
Xxxxxxx Xxxxxxx Xxxx X. Xxxxxx
