EXHIBIT 10.3
ADDITIONAL AGREEMENT
This additional Agreement (the "Agreement") is made and entered into as of
January 18, 2000, by and between Quintek Technologies, Inc.
("Quintek/Licensor"), a California corporation having its principal place of
business at 000 Xxxxxxxxxxxx Xxx., Xxxxx X, Xxxxxxxxx, Xxxxxxxxxx, 00000 XXX,
and Qtek Aperture Card AB ("Qtek/Licensee"), a Swedish Company, having its
principal place of business at Xxxxxxxxxxxxxxx 00, 00 000 Xxxxxxxxx, Xxxxxx.
Recitals
WHEREAS Quintek owns intellectual property rights and has licensed certain
intellectual property rights to Qtek and undertaken a purchase commitment
towards Qtek in exchange for shares in Qtek;
WHEREAS Quintek and Qtek wants to have other parts of their relation in a
separate agreement;
NOW THEREFORE for and in consideration of the mutual covenants and agreement
herein contained, the parties hereto agree as follows:
Agreement
Purchase by Quintek
-------------------
In addition to the purchase commitment regarding the 30 4303 units in the
License Agreement Quintek undertakes to, during the term of the 4300 License
Agreement, to purchase its need of 4305 units and spare parts exlusively from
Qtek but subject to the terms and exceptions in the License Agreement. These
purchases shall be made after the fulfillment of the first 30 purchases under
the License Agreement and under such terms and conditions which are reasonable
for both parties.
The price (not including, VAT, import-export cost etc.) for each purchase
shall be at least all reasonable manufacturing costs plus a margin of 10 %.
Purchase by Qtek
----------------
Qtek undertakes to, during the term of the 4300 License Agreement, to purchase
its need of aperture card media and 4303 units and spare parts exclusively
from Quintek. These purchases shall be made under such terms and conditions
which are reasonable for both parties.
The price (not including, VAT, import-export cost etc.) for each purchase
shall be cost plus a margin of 10%.
Reasonable Terms and Conditions
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If the parties do not agree on specific terms and conditions for the above
referred purchases shall the international rules and principles regarding
purchase of goods be applicable.
Miscellaneous
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This Agreement may not be assigned by either party without the prior written
consent of the other party.
This Agreement shall be governed by and interpreted in accordance with the
4300 License Agreement and the laws of Sweden.
The duly authorized officers of each party have signed this Agreement.
Qtek Aperture Card AB
____________________________________
By: Xxxxxxxx Xxxxxxxx, Chairman
Quintek Technologies, Inc. A California Corporation
___________________________________
By: Xxxxxx X. Xxxx, President & CEO
