LICENSING AGREEMENT
This AGREEMENT (The agreement) is entered into as of the 9th day of January 1998
by and among:
Millenia Hope Inc. Incorporated under the laws of the state of Delaware, Unites
States of America and domiciled at 000 Xxxx Xxxxxx Xxxxx, Xxxxxxx, Xxxxxxxx, XXX
("Millenia Delaware" or Licensor) and L'Espoir du Millenaire Inc. incorporated
under the laws of the Province of Quebec, Canada domiciled at 0000 Xxxxxxxx,
Xxxxxxxx, Xxxxxx, X0X 0X0, ("L'Espoir" or Licensee)
Whereas Millenia-Delaware has agreed to mandate L'Espoir to be a Marketer /
Distributor for "MALAREX" the trade name for the patented anti-malarial drug
owned by Millenia-Delaware.
Now therefore, in consideration of the covenants and agreements herein
contained, the parties agree as follows:
1. That L'Espoir agreed that Millenia-Delaware itself has the right to market
MALAREX" on its own, without any exception other than it must disclose to l
Espoir if it hires any other Marketer/Distributor.
2. That Millenia-Delaware also agrees that the right of Distribution also
includes the right of "transformation", and that said "transformation"
shall take place solely in the province of Quebec, Canada.
3. That L'Espoir agrees that the proprietary rights of "MALAREX" belong solely
to Millenia-Delaware and that it will not attempt to duplicate, Copy,
replicate, or through any sort of chemical or biological means recreate a
product similar in usage or one that serves a like purpose to "MALAREX"
from the inception of this contract to a period of five years from the end
of this contract or 5 years after the end of any option exercised pursuant
to this contract.
4. That L'Espoir agrees to buy "MALAREX" or any other anti-malarial drug or
agent solely from Millenia-Delaware and that the price to be paid for
"MALAREX" will be solely and totally at the discretion of Millenia-Delaware
but that Millenia-Delaware will take into account the world market price
for "MALAREX" when setting the price it charges L'Espoir.
5. That L'Espoir pledges to make its best possible effort in marketing
"MALAREX" to as wide a clientele as possible in keeping with
Millenia-Delaware's corporate creed.
6. That the agreed upon fee to be paid by L'Espoir to Millenia-Delaware shall
be $30,000 US for 1999 and $30,000 US for years 2000-2003 inclusive. That
at the end of 2003 L'Espoir shall have the option to renew this agreement
for $50,000 US a year commencing 2004 provided that it has sols a minimum
average of $5,000,000 US per year for the years 2001-2003.
7. This Agreement contains the entire understanding of the parties hereto with
respect to the subject matter herein contained and no amendment or
modification of this Agreement shall be valid unless expressed in a written
instrument executed by the parties hereto or their respective successors.
This Agreement supersedes all prior written or verbal agreements or
understandings between Seller and Purchaser.
8. No waiver of any provision of, or any breach or default of this Agreement,
shall be considered valid unless in writing and signed by the party giving
such waiver, and no waiver shall be deemed a waiver of any other provision
or any subsequent breach or default of similar nature.
9. The validity or unenforceability of any particular provision of this
Agreement shall not affect the other provisions hereof, and this Agreement
shall be constructed in all respects as if such invalid or unenforceable
provisions were omitted.
10. Each party to this Agreement will, at the request of the other, execute and
deliver to such other party all further endorsements and documents and
documents as such other party or shall reasonably request in order to
consummate and perfect the transactions contemplated by this Agreement.
11. This Agreement may be executed in two or more counterparts, and all
counterparts so executed shall constitute one agreement binding on all
parties hereto.
12. Any notice of other communication permitted or required to be given
hereunder shall be writing and shall be given upon (i) mailing by first
class registered mail or certified mail, return receipt requested and
postage prepaid, (ii) personal delivery, (iii) delivery by Federal Express
or other overnight courier or (iv) delivery by telefax (with a copy sent by
any one of the other three methods specified above), in each case addressed
to the parties as set forth above.
That all parties have agreed to have this contract drawn up in the English
language . Que tous les parties ont agree de faire ce contrat en Anglais.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the day and year first written above.
Millenia Hope Inc.
By:___________________________________
Name: Xxxxxxx Xxxxxx
Title: President
L Espoir du Millenaire Inc.
By:___________________________________
Name:Xxxxxx Xxxxxxxxxx
Title: President