Notice of Termination of Distributor Representative Agreements between Xtreme Companies, Inc. and Wayton Marine International, Inc.

Summary

Xtreme Companies, Inc., through its subsidiary Marine Holdings, Inc., is notifying Wayton Marine International, Inc. of the termination of three distributor representative agreements related to various Challenger Offshore boat series. The agreements will end effective July 6, 2006, in accordance with the 30-day notice provision specified in the contracts. This notice formally ends the business relationship for the distribution of these boat products between the parties.

EX-10.1 2 ex101.txt EXHIBIT 10.1 Exhibit 10.1 June 7, 2006 Mr. Sean Wayton, CEO Sent via fax, email and overnight express Wayton Marine International, Inc. 1220 Merlot Dr. South Lake, TX 76092 RE: TERMINATION OFDISTRIBUTOR REPRESENTATIVEAGREEMENTS - --------------------------------------------------------- Dear Mr. Wayton; We hereby provide notice of termination of the three (3) following agreements; (i) May 1, 2005 Distributor Representative Agreement for Challenger Offshore Z-Series Boats between Wayton Marine International, Inc. and Marine Holdings, Inc., (a wholly-owned subsidiary of Xtreme Companies, Inc.), (ii) May 1, 2005 Distributor Representative Agreement for Challenger Offshore Performance Boats between Wayton Marine International, Inc. and Marine Holdings, Inc. and (iii) May 1, 2005 Distributor Representative Agreement for Challenger Offshore SX & Sportfish Series Boats between Wayton Marine International, Inc. and Marine Holdings, Inc. (collectively the "Agreements"). As you know, Section 15(a) of each of the Agreements states, "This Agreement may be terminated at any time by either party giving thirty (30) days written notice to the other party". Accordingly, termination will be effective on July 6, 2006. Kindest Regards, Laurie Phillips President & CEO Xtreme Companies, Inc.