[Exhibit 10.1]
Corporate Sales Agreement
Assignor: MB Tech Inc.
CEO & President : Bae Han Wook (ID: 000000-0000000)
Address: 5408 BI Center Dongsoul College, 423 Bokjeong-dong, Soojeong-gu,
Kyunggi-do
Assignee: Xxxx Xxx Hyun (ID: 000000-0000000)
Address: 0-000 Xxxxx Heights Villa, Deoksung-li, Eumsung-gun, Choongcheongbukdo
This agreement shall be made and entered into by and between two parties to
assign MB Tech Korea, a subsidiary of MB Tech Inc, having its principal office
at 1021-3 Deokjeong-li, Samsung-myun, Eeumsung-gun, Choongcheongbukdo
("Company"). Any and all rights and obligations to Company's businesses shall be
assigned to Assignee under the following terms and conditions.
Article 1 (Purpose)
The purpose of this Agreement is to assign any and all rights and obligations to
Company's businesses to Assignee under the Korean Commercial Law and Tax Law.
Article 2 (Assignment of Business)
As of the date of entering into this Agreement, Assignee shall be assigned to
all the material and human resources belonging to and any and all rights and
obligations to Company.
Article 3 (Assigned Assets and Debts & Effective Date)
Assignee shall be assigned to Assignor's total assets and debts as entered on
the Company's books as of September 30, 2004.
Article 4 (Price of Assignment)
The price shall be the amount, total assets - total debts, which is set forth in
Article 3.
Article 5 (Object and Scope of Assignment)
The assigned objects shall be prescribed in the attached Balance Sheet of
"Appendix1".
Article 6 (Incidental Debts)
Assignee shall be responsible for all the taxes and charges as not listed in
Appendix and any and all the debts of MB Tech Korea that may be generated after
the date of entering into this Agreement.
Article 7 (Cooperation)
Assignor shall closely cooperate with Assignee in carrying out the processes
required to assign the businesses.
Article 8 (Other Provision)
Any issue that shall not be prescribed in this Agreement shall be solved in
consultation with both Parties.
IN WITNESS WHEREOF, Assignor and Assignee have caused this Agreement to be
executed in duplicate and keep one copy each.
December 20, 2004
Assignor: MB Tech. Inc.
/s/ Xxxxxxx Xxx
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Bae Han Wook (ID: 000000-0000000)
CEO & President
Address: 5408 BI Center Dongseoul College, 423 Bokjeong-dong, Soojeong-gu,
Kyunggi-do
Assignee: /s/ Xxxxxxx Xxxx
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Xxxx Xxx Hyun (ID: 000000-0000000)
Address: 0-000 Xxxxx Heights Villa Deokjeong-li, Eumsung-gun, Choongcheongbukdo
