Funding and Penalty Undertaking Letter from Amulet Holdings Limited to Galaxy Minerals, Inc. for Seaside Registration Rights Agreement

Contract Categories: Business Finance › Funding Agreements
Summary

Amulet Holdings Limited agrees to provide $100,000 to Galaxy Minerals, Inc. for the completion of the Seaside Registration Rights Agreement, contingent on the successful liquidation of Seaside equities. Amulet also commits to pay any penalties specified in sections 2(c) and 2(d) of the attached agreement. The funds will be provided as soon as possible after the condition is met.

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EX-10.2 3 galaxy_8kex10-2.txt EXHIBIT 10.2 AMULET HOLDINGS LIMITED August 30, 2004 Re: Seaside Registration rights agreement - ----------------------------------------- To: The Directors at Galaxy Minerals, Inc. 500 Park Ave. Suite 203 Lake Villa IL. 60046 USA Gentlemen, We hereby undertake and confirm that subject to the successful liquidation of Seaside equities, Amulet agrees to provide $100,000 to Galaxy Minerals to be used specifically for the completion of the "Seaside Registration Rights agreement", attached hereto for purposes of record. Amulet agrees to provide such monies as soon as practically possible. It is further agreed that Amulet will undertake to pay such penalties as referred in the attached agreement specifically 2(c) & 2(d). Your faithfully, /s/ Scott Goldstein 30th August 2004 - ------------------- Scott Goldstein Director and Authorized Signatory