EXHIBIT 10
MATERIAL CONTRACTS
JRE INC SPIN OFF AGREEMENT
WITH PREDECESSOR
J ESPO'S INC.
ASSIGNMENT AGREEMENT
In consideration of good and valuable consideration, receipt of which is
hereby ackowledged between J Espo's Inc. and JRE Inc. on December 5, 2000, or
such or extended time as JRE Inc. shall deem desirable. All assets, liabilities,
an the on-going business operations of J Espo's Inc. Internet Retail and
Wholesale Divisions, wherever located and of every nature and description be and
the same hereby are transferred and assigned to JRE Inc., a New York domestic
business corporation, and as soon as practicable after the closing of an
Agreement and Plan of Reorganization, and compliance with or exemption from
applicable laws, rules, and regulations concerning the public issuance of
securities, one share of common stock of JRE Inc., on a one to one basis, shall
be issued to each and every shareholder of rcjcord of J Espo's Inc. as of
December 18, 2000.
Dated: East Hampton, New York
December 05, 2000
J Espo's Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx, President
ACCEPTED AND AGREED:
JRE Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx, President
Lease Agreement
Landlord: Old Barn Development Corp
Tenant: JRE Inc.
Premises: 00 Xxxx Xxxxxx
Xxxxxx Xxxxx
Xxxx Xxxxxxx, Xxx Xxxx 00000
Terms: January 1, 2002 through December 31,2002
$500.00 per month
/s/ Xxxxxxx X Xxxxxxxx
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Landlord
Xxxxxxx X. Xxxxxxxx
December 29, 2001
/s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X Xxxxxxxx, President
JRE Inc.
December 29, 2001
Signatures
Pursuant to the requirements of Section 12 of the Securities Exchange Act of
1934, the registrant has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized.
/s/ Xxxxxxx X. Xxxxxxxx
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(Registrant)
Date: 1/3/01 By: /s/ Xxxxxxx X. Xxxxxxxx
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(Signature)
