RENTAL AGREEMENT
EXHIBIT 10.18
BETWEEN:
(herein referred to as the “Company”)
AND
ABE INDUSTRIES (1980) INC.
0000 XXXXXXX XXXX
XXXXX XXXXXXXXX, X.X.
X0X 0X0
0000 XXXXXXX XXXX
XXXXX XXXXXXXXX, X.X.
X0X 0X0
(herein referred to as “ABE”)
THIS RENTAL AGREEMENT (the “Agreement”) is made and entered into this 15th day of March, 2003,
by and between International Absorbents Inc., a British Columbia corporation and ABE Industries
(1980) Inc., a British Columbia corporation.
Effective herewith, the Company hereby agrees to rent the premises at 0000 Xxxxxxx Xxxx,
Xxxxx Xxxxxxxxx, Xxxxxxx Xxxxxxxx (the “Premises”) and ABE hereby agrees to such rental. The
rental of premises is established to represent the Company’s head office in British Columbia.
The term of the rental and services agreement hereunder shall be for a period of five (5)
years, commencing on the date of this Agreement. The term, subject to earlier termination as
specified hereafter, will automatically renew on the first and each subsequent anniversary of the
Agreement until terminated.
The Premises consists of 1,640 square feet of office space. The Company shall make monthly
payments on the 1st of each month to ABE in the amount of Five Hundred Dollars ($500.00)
for the Premises provided, subject to change upon mutual agreement of the parties.
This agreement shall terminate on the 1st of the month subsequent the date that is
two (2) months following the written submission.
The parties have executed and sealed this Agreement as of the day and year set forth above.
INTERNATIONAL ABSORBENTS INC. | ABE INDUSTRIES (1980) INC. | |||||||
Signed:
|
/s/ Xxxx Xxxxx | Signed: | /s/ Xxxxxx X. Xxxxx | |||||
Xxxxxxx Xxxxx, Secretary | Xxxxxx X. Xxxxx | |||||||
Date:
|
March 15, 2003 | Date: | March 15, 2003 |