Letter Agreement Clarifying Exclusive License and Distribution Agreement between Reduct NV and Geospatial Mapping Systems, Inc.

Summary

This letter agreement, dated April 17, 2008, clarifies the terms of the Exclusive License and Distribution Agreement between Reduct NV and Geospatial Mapping Systems, Inc. It confirms that if Geospatial fails to pay certain exclusivity fees or meet specified sales targets, it may still use the systems it possesses, and Reduct will continue to service those systems under standard terms. Additionally, if Reduct appoints a new or additional U.S. distributor, Geospatial may continue to purchase Reduct systems.

EX-10.6 7 dex106.htm LETTER AGREEMENT CLARIFYING THE EXCLUSIVE LICENSE AND DISTRIBUTION AGREEMENT Letter Agreement Clarifying the Exclusive License and Distribution Agreement

Exhibit 10.6

April 17, 2008

TO WHOM IT MAY CONCERN

To clarify our understanding of the Exclusive License and Distribution Agreement (the “Agreement”) dated August 3, 2006 between Reduct NV and Geospatial Mapping Systems, Inc. (“Geospatial”) and the two successive addenda dated December 21st, 2007 and March 21st, 2008, we confirm that should Geospatial fail to pay Exclusivity fees as defined in Schedule 3.1 of the Agreement other than payments already agreed, or should Geospatial fail to achieve at least 70% of its Intercompany Sales as defined in Schedule 3.1 of the Agreement, Geospatial will be able to use the systems in its possession freely and Reduct will continue to service those systems under normal commercial conditions. In case Reduct appoints a new or additional US distributor, we expect that Geospatial will be able to, directly or indirectly, purchase further Reduct systems.

 

  

  
   Otto P. Ballintijn   
   Managing Director   
   Reduct NV   

 

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