OEM Agreement This OEM Agreement (hereinafter r
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Posted On: 10/02/2019 10:55:51 PM
OEM Agreement
This OEM Agreement (hereinafter referred to as “This Agreement”) is made and entered into by and between NGEN Technologies USA Corp. (hereinafter referred to as “NGEN”) and Samsung Industry Co., Ltd. (hereinafter referred to as “Samsung”):
2.3 This Agreement shall be for 36 months from the effective date of this Agreement
4.3 To initiate the terms of this OEM Agreement, Ngen Technologies shall remit advance payment of$9,000,000 USD to Samsung for equipment and parts as defined hereto and to the Samsung bank account identified in the annex of this Agreement. It is agreed by both parties that the ownership of the equipment shall be reserved by “NGEN”, and in case of “NGEN’s” request for its return, “Samsung” shall return it without delay
The payment shall include parts and labour for a total of 150,000 units, paid in advance. Samsung agrees to ship finished products every 90 days and in accordance with the schedule outlined in this agreement.
https://www.sec.gov/Archives/edgar/data/15031...ex10-1.htm
This OEM Agreement (hereinafter referred to as “This Agreement”) is made and entered into by and between NGEN Technologies USA Corp. (hereinafter referred to as “NGEN”) and Samsung Industry Co., Ltd. (hereinafter referred to as “Samsung”):
2.3 This Agreement shall be for 36 months from the effective date of this Agreement
4.3 To initiate the terms of this OEM Agreement, Ngen Technologies shall remit advance payment of$9,000,000 USD to Samsung for equipment and parts as defined hereto and to the Samsung bank account identified in the annex of this Agreement. It is agreed by both parties that the ownership of the equipment shall be reserved by “NGEN”, and in case of “NGEN’s” request for its return, “Samsung” shall return it without delay
The payment shall include parts and labour for a total of 150,000 units, paid in advance. Samsung agrees to ship finished products every 90 days and in accordance with the schedule outlined in this agreement.
https://www.sec.gov/Archives/edgar/data/15031...ex10-1.htm
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