Evo Tech Consulting Agreement Assumption by Safetek Acquisition Corp. from Argo, Inc.

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Summary

This agreement, dated May 25, 2001, is between Argo, Inc. (Assignor), Safetek Acquisition Corp. (Assignee), and Evo Tech, Inc. Argo assigns all its rights and obligations under a consulting agreement with Evo Tech to Safetek Acquisition Corp., which agrees to assume them. Evo Tech consents to this assignment. The agreement formalizes the transfer of contractual responsibilities and benefits from Argo to Safetek Acquisition Corp. with Evo Tech's approval.

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EX-10.2 4 safe8k50401ex102.txt EVO TECH ASSUMPTIONS AGREEMENT EVO TECH ASSUMPTION AGREEMENT THIS AGREEMENT dated this 25th day of May, 2001 between Argo, Inc. a Israeli corporation ("Assignor"); Safetek Acquisition Corp. a Delaware corporation ("Assignee"); and Evo Tech, Inc. ("Evo Tech"). W I T N E S S E S T H : WHEREAS, Assignor is a party to that certain contract (the "Evo Tech Consulting Agreement") dated ____________ _____, 2001, between Argo and Evo Tech, Inc; WHEREAS, Assignor wishes to assign its interest in the Evo Tech Consulting Agreement to Assignee, and Assignee is willing to accept such assignment; WHEREAS, Evo Tech is also a party to the Evo Tech Consulting Agreement between Argo and Evo Tech, and Evo Tech is willing to consent to the Assignment by Assignor to Asignee of Assignor's interest in the Evo Tech Consulting Agreement. N O W T H E R E F O R E , In consideration of the Premises and for other good and valuable consideration, the Parties hereto agree that: 1. Assignor hereby assigns to Assignee, and Assignee hereby irrevocably and unconditionally assumes, all of the rights, conditions, and obligations of Assignor in the Evo Tech Consulting Agreement between Argo and Evo Tech. 2. Evo Tech hereby consents to the foregoing Assignment. Argo, Inc. Safetek Acquisition, Inc. (Assignor) (Assignee) By: ______________________________ By: ______________________________ Zvi Nachum, President Shmuel M. Shneibalg, President Evo Tech, Inc. By: ______________________________ Bosilio Chen, President