COMMERCIALIZATION AGREEMENT
Between
UNITECH ENERGY CORP.
("UNITECH")
Xxxxx 0000, 000-0xx. Xxx. XX
Xxxxxxx, Xxxxxxx, X0X 0X0
and
LOGSEARCH INC.
("LOGSEARCH")
Xxxxx 0000, 000-0xx. Xxx. XX
Xxxxxxx, Xxxxxxx, X0X 0X0
(hereinafter collectively referred to as the "Parties")
Whereas the Parties are desirous of entering into a business arrangement
for the purpose of commercializing certain Unitech software within the United
States of America, the Parties hereby agree as follows:
5. Unitech hereby provides exclusive marketing and commercialization
rights, to the Unitech database management system and analysis
software, known as LeadScan, to LogSearch, within the geographic area of the United States of America.
6. Unitech will provide software updates and support functions for
LeadScan, on a "most-favored" nation basis.
7. LogSearch will issue 17,000,000 shares of LogSearch common stock to Unitech, said 17,000,000 shares representing the total issued and outstanding shares of LogSearch at the time of issue. Of the 17,000,000 shares, 7,000,000 are consideration for the exclusive licensing rights and 10,000,000 are issued as consideration for US$20,000 ($0.002 per share).
8. LogSearch will be responsible for all expenses related to the
implementation and operation pursuant to this License.
Signed and agreed to in Calgary, this 15th day of March , 2004.
Unitech Energy Corp.
per: /s/Xxxxx Xxxxxxx
LogSearch Inc.
per: /s/Xxxxxx Xxxxx
