AGREEMENT
This Agreement is made on December 11, 1997 between American Custom Components,
Inc., a Nevada Corporation in USA with its registered office at 0000 X.
XxxXXXXXX XXXX. Xxxxx Xxx, XX 00000, X.X.X. (hereafter called "ACC") AND Xxxxxx
Xxx on Xx. 00 Xxxxx Xxxx Xxxx, Xxxxxxxxxx Xxxx, 00000 Xxxxx Xxxxx, Xxxxx,
Xxxxxxxx (hereafter called "the Owner").
BOTH PARTIES HERETO AGREE AS FOLLOWS:
(1) SALE AND PURCHASE PRICE
The owner hereby agrees to sell and ACC agrees to purchase the One and Half
storey terrace factory at 95 Jalan Timur 4, Kawasan Perindustrian Xxxxx Xxxxx,
00000 Xxxxx, Xxxxx, Xxxxxxxx.
(Title No: HS(D) 208264).
Both parties agree the price at US$110,000.00
(2) SCHEDULE OF PAYMENT
ACC is hereby offering to the Owner an opportunity to purchase ACC's stocks of
31,400 shares at US$ 3.50 per share in exchange of the ownership of the above
said property. There will be a 12 months waiting period on this stock options
which expire on the 13th month from the date of this agreement. The waiting
period of 12 months is effective from the date of this agreement. The Owner has
ONE month to exercise this stock options agreement and give ACC title to the
above said property. In the event that the Owner does not exercise this stock
options, ACC shall pay US$110,000.00 to the Owner.
(3) RENTAL
ACC agree to rent the building at US$800.00 during this waiting period. The
rental shall be effective from the date of this agreement.
IN WITNESS WHEREOF, intending to be legally bound, the parties hereto have
executed this Agreement as of the date first above stated.
/s/ Xxxxxx Xxx /s/ Xxxxxx Xxxx Walk
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SIGNED by XXXXXX XXX SIGNED by XXXXXX XXXX WALK
(I.C. No. 650326-01-5101) on behalf of
AMERICAN CUSTOM COMPONENTS, INC.
in the presence of:-
/s/ Xxxxxxx Xxxxxx Xxxxx 9-Feb-98
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XXXXXXX XXXXXX XXXXX
