Binding Letter of Intent Between Global General Technologies, Inc. and Smart Wear Technologies, Inc. (February 11, 2008)

Summary

Global General Technologies, Inc. and Smart Wear Technologies, Inc. have agreed to convert their previous non-binding letter of intent into a binding agreement. This letter confirms their intention to proceed with a share exchange, subject to satisfactory due diligence and the execution of a formal Share Exchange Agreement between SmartWear's shareholders and Global General. Both parties have signed the letter to indicate their commitment to these terms.

EX-10.1 2 form8k021108-2ex10_1.htm form8k021108-2ex10_1.htm

EX-10.1 2

LETTER OF INTENT BETWEEN THE REGISTRANT AND SMARTWEAR TECHNOLOGIES, DATED FEBRUARY 5, 2008.

Global General Technologies, Inc.

201 South Biscayne Boulevard

28th Floor Miami Center

Miami, Florida 33131

1 ###-###-####

February 11, 2008

Smart Wear Technologies

10120 South Eastern Avenue

Suite 200

Henderson, Nevada 89052

Attention: Robert Reed, President

Dear Mr. Reed:

Reference is made to the Non-Binding Letter of Intent between our two companies dated January 23, 2008, a copy of which is attached (the “January LOI”).

Based on subsequent discussion between us, we have now agreed that the terms and conditions in the Non-Binding January LOI are hereby considered to be a Binding Letter of Intent, subject, of course, to standard mutually satisfactory due diligence and the execution of a Share Exchange Agreement between the shareholders of SmartWear and Global General.

If this accurately reflects your understanding of what we have agreed upon, please sign and date a copy of this letter, and return the manually signed copy to me.

We are looking forward to doing business with you.

Global General Technologies, Inc.

By: _______ /s/___________________

February 11, 2008

Gary T. Stroud, President

Smart Wear Technologies, Inc.

By: ______/s/____________________

February 11, 2008

Robert Reed, President