TECHNOLOGY LICENSE AGREEMENT WITH OPTION TO PURCHASETechnology License Agreement • March 16th, 2012 • Globetrac Inc • Telephone communications (no radiotelephone) • Florida
IN CONSIDERATION of the premises and the mutual promises, covenants, conditions, representations and warranties hereinafter contained and the Licensee’s issuance of 5 million shares of its common stock and a 5% royalty to Licensor to sell Licensed Products (Exhibit B), and a onetime payment of $250,000 as consideration for the option to purchase the Licensed Assets, (Exhibit A) and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:
