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EXHIBIT 10.9
LEVEL BEST GOLF, INC.
AND
GOLF 21 AGREEMENT
Level Best Golf, Inc. (LBG) will pay to Golf 21 a direct payment of seven and
one-half percent (7 1/2%) of gross collected sales for the rights to
exclusively market Golf 21 worldwide for a period of five (5) years, with
renewal options for an additional five (5) years. In order to maintain this
exclusivity, LBG must sell a minimum of:
10,000 Units, Year One
20,000 Units, Year Two
30,000 Units, Year Three
40,000 Units, Year Four
50,000 Units, Year Five
LBG will have complete worldwide marketing rights to include the right to
change graphics, create new logo (if deemed necessary), and create all TV and
direct response advertising, etc.
LBG estimates a pricing of seven (7) to ten (10) dollars per unit wholesale.
LBG will also issue to Xxxxxx X. Xxxxx, President, Golf 21, two thousand shares
of Level Best Golf restricted stock to cover his expenses prior to this
agreement.
/s/ Xxxxx X. Xxxxxxx 2/8/96 /s/ Xxxxxx X. Xxxxx 2/9/96
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Xxxxx X. Xxxxxxx Date Xxxxxx X. Xxxxx Date
Executive Vice President President
