Manufacturing Contract
Exhibit 10.12
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Customer: |
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Lightspace Corporation |
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Date:
May 5, 2005 |
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Manufacturer: |
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High-Tech O&E |
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This contract is made by and between the Customer and the Manufacturer (hereafter as MFR): where the Customer agrees to buy and the MFR agrees to sell manufactured products according to the terms and conditions stipulated below:
1. Customer agrees to purchase a minimum of $5,000,000 of manufactured products from MFR over a five year period.
2. Customer retains the right to cancel this contract if MFR ownership is not held 100% by Xx. Xxxxxxx Xx.
3. There will be several stages of design and manufacturing over the life of this agreement, with each stage involving increasing levels of participation of MFR in the design process, as well as a larger percentage of the manufacturing of the final product as sold by Customer.
4. The first stage will be the custom parts list attached as Order AI, and Customer may request full or partial orders to be made and delivered in increments of 10%. MFR agrees to provide new design of quad pixel without charge, and the price of quad pixel will be adjusted.
5. AOR 2 — 4 weeks for each delivery order. The first order/delivery will be longer because of tooling preparation.
6. Payment by LIC, with 50% upon placing order and balance upon delivery.
7. Provided at least $1,000,000 of this contract is satisfied within the first two years, MFR will not charge Customer for tooling, and Customer shall own the tooling free of charge. Otherwise, Customer will pay for tooling, and shall own all tooling paid for.
8. Termination of this contract shall be at the earlier of five years after signing or on misalignment. Customer and MFR must mutually agree to pricing, quality standards, and delivery schedules prior to each order or partial order to avoid misalignment and minimum purchase commitment abrogation.
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Lightspace Corporation |
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High-Tech O&E Corp./Mechatron |
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By: |
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By: |
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Name: |
Xxx Xxxx |
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Name: |
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Title: |
CEO |
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Title: |
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Date: |
5/15/05 |
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Date: |
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ORDER A1
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MEC-2051-00 |
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25,000 pcs |
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$ |
3.15/pc |
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$ |
78,750.00 |
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TBD |
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2 |
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MEC-0042-00 |
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25,000 pcs |
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$ |
6.98/pc |
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$ |
174,500.00 |
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TBD |
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3 |
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MEC-0038-00 |
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100,000 pcs |
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$ |
0.19/pc |
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$ |
19,000.00 |
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None |
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4 |
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MEC-0054-00 |
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100,000 pcs |
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$ |
3.78/pc |
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$ |
378,000.00 |
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TBD |
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5 |
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MEC-2020 |
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400,000 pcs |
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$ |
0.05/pcs |
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$ |
20,000.00 |
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TBD |
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6 |
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MEC-2021 |
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400,000 pcs |
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$ |
0.05/pc |
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$ |
20,000.00 |
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TBD |
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7 |
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MEC-2002 |
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100,000 pcs |
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$ |
2.25/pc |
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$ |
225,000.00 |
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TBD |
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8 |
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MEC-0041 |
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100,000 pcs |
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$ |
0.39/pc |
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$ |
39,000.00 |
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TBD |
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9 |
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MEC-2013 |
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400,000 pcs |
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$ |
0.l28/pcs |
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$ |
51,200.00 |
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TBD |
2
