Memorandum of Understanding Regarding Exclusive Product Sales Between World Scan Project Corporation and Drone Net Co., Ltd.
World Scan Project Corporation (WSPJ) and Drone Net Co., Ltd. have agreed that Drone Net will exclusively purchase certain drone products from WSPJ and will not develop, manufacture, or sell similar products without WSPJ’s consent. If Drone Net breaches this, it must pay a penalty. WSPJ must deliver the products within three months, and Drone Net must make an advance payment upon request. If delivery is not made on time, Drone Net can cancel the agreement. The agreement is valid from March 1, 2020, to February 28, 2023.
Memorandum of Understanding Regarding Products Sales Agreement
World Scan Project Corporation (“WSPJ”) and Drone Net Co., Ltd. (“Drone Net”) enter into t the Memorandum of Understanding Regarding Exclusive Supplier (the “MOU”) as follows:
| 1. | Purposes |
Both parties agreed the following term and condition:
| n | Drone Net shall not develop, manufacture, purchase or sell similar products of the Product without the WSPJ’s consent. If Drone Net violates this, Drone Net shall pay JPY 158,000,000 to WSPJ. |
The similar good is the drone machine which all of the following conditions are applied:
| ž | The price is within JPY100,000 |
| ž | The weight is within 50 grams. |
| ž | Including LAP sensor or the same function |
| n | WSPJ shall delivery the Products within three months. |
| n | Drone Net shall pay the advance payment on the WSPJ’s request. |
| n | If WSPJ cannot deliver the Products within three months, Drone Net may cancel the Agreement. |
| 2. | Valid period |
The valid period of the Agreement shall be from March 1, 2020 to February 28, 2023.
IN WITNESS WHEREOF, the Agreement has been prepared in duplicate, and after they are signed and seals have been affixed thereto, each party shall retain a copy.
March 1, 2020
WSPJ:
World Scan Project Corporation
2-13-23-2F, Nishiwaseda, Shinjuku-ku, Tokyo, Japan
/s/ Ryohei Uetaki
Ryohei Uetaki, Representative Director
Drone Net:
Drone Net Co., Ltd.
4-3-29-1F, Kojimachi, Chiyoda-ku, Tokyo, Japan
/s/ Kazuyuki Murakami
Kazuyuki Murakami, Representative Director
