Letter Agreement entered between FML Malta Ltd., FXDD Malta Limited and Nukkleus Limited

EX-10.12 2 s108518_ex10-12.htm EXHIBIT 10.12

 

Exhibit 10.12

 

 

525 Washington Blvd.

 

Suite 1405

 

Newport, NJ 07310

 

December 27, 2017

 

FML Malta, Ltd.

FXDD Malta Limited

 

Re:       General Services Agreement - Correction

 

To whom it may concern:

 

On May 24, 2016, Nukkleus Limited (the “Subsidiary”) entered into a General Services Agreement to provide its software, technology, customer sales and marketing and risk management technology hardware and software solutions package to FML Malta, Ltd. (“FML Malta”), a private limited liability company formed under the laws of Malta. The General Services Agreement entered with FML Malta provided that FML Malta will pay the Subsidiary at minimum $2,000,000 per month.

 

On October 17, 2017, effective October 1, 2017, the Subsidiary entered into an amendment of that certain General Service Agreement entered with FML Malta dated May 24, 2016 pursuant to which the amount payable by FML to Subsidiary for services was reduced to $1,600,000.

 

The Subsidiary and FML Malta hereby acknowledge that there was an error in drafting the General Services Agreement and the amendment in so far as the correct party to such agreement is FXDD Malta Limited, a private limited liability company formed under the laws of Malta (“FXDD Malta”).

 

The Subsidiary, FML Malta and the FXDD Malta hereby agree to the correction of the General Services Agreement and the amendment to replace the name of FML Malta with that of FXDD Malta. The parties further agree that all provisions contained in the Agreement and the amendment shall apply to FXDD Malta and FXDD consent to be bound by the terms and conditions of the Agreement and the amendment.

 

We request that you execute below agreeing to the terms of this letter agreement.

 

  Sincerely,
     
  Nukkleus Limited
     
  By: /s/ Emil Assentato  
  Name: Emil Assentato
  Title:   Chairman

 

ACKNOLWEDGED AND AGREED:  
   
FML Malta, Ltd.  
   
By: /s/ Joseph Botkier  
Name:  Joseph Botkier  
Title:    Director  
   
FXDD Malta Limited  
By: /s/ Joseph Botkier  
Name:  Joseph Botkier  
Title:    Director