EX-10 3 m10-ksb2003ex2.txt EX 10-11- MFG. AND DEV. AGREEMENT GLOBE MEDICAL TECH, INC. 1766 W. SAM HOUSTON PKWY N. HOUSTON, TX 77043, U.S.A. TEL: (713) 365-9595 FAX: (713) 365-9935 WWW.GLOBEMEDTECH.COM Manufacturing and Development Agreement (See Addendum Attached) November 13, 2003 This Purchasing Agreement is for Development and manufacturing of Maxxon 3cc safety syringe design with locking mechanism with the following terms and conditions: Globe's responsibilities include making production mold, product development assistance and validation of the initial assembly process, all product testing, test data and prototype product samples for submission to the FDA in connection with the planned 510(k) submission. Globe will produce 10,000,000 (10 Million) pcs Maxxon safety syringes package and sterilized using multi cavity production mold as listed below: Cylinder: 24 cavities Seat: 32 cavities Piston: 24 cavities Stopper: 26 cavities Plunger: 12 cavities ( two molds, total 24 cavities) Rear Stop: 28 cavities Total cost for above project $1.4 million *After the first 10,000,000 pcs Maxxon safety syringe production, the syringe price shall be: $0.10 per syringe packaged and sterilized with minimum order of one million pcs. *The production capacity: Two million syringes per month *Material: Rubber parts are made of thermal plastic rubber Other parts are made of PP *Estimated Mold Making Schedule: Six to eight weeks for making production molds Page 1 of 2 November 13, 2003 Globe & Maxxon Purchasing Agreement cont'd *Payment Terms: 50% due at the purchase order signed. 25% due after FDA approval of the syringe 25% due after receiving the safety syringes Note: 1. The price is based on FOB West Coast, USA 2. This price is based on full container shipment. 3. The price is valid for three months. Signed and agreed: Maxxon, Inc. Signed by:/s/ Gifford Mabie date signed: November 13, 2003 --------------------------- ----------------- Mr. Gifford Mabie / President & CEO Maxxon, Inc. 9202 South Toledo Ave Tulsa, OK 74137 Telephone: (918) 492-8438 Fax: 918-492-2560 Globe Medical Tech, Inc. Signed by:/s/ Andy Hu date signed: November 13, 2003 --------------------------- ----------------- Andy Hu / President & CEO Globe Medical Tech, Inc. 1766 West Sam Houston Parkway N. Houston, TX 77043 END - Page 2 of 2 ADDENDUM TO PURCHASING AGREEMENT DATED: NOVEMBER 13, 2003 By this addendum, the parties to the Purchasing Agreement signed between Globe Medical Tech, Inc. and Maxxon, Inc. on November 13, 2003 do hereby agree to change the title of the agreement from "Purchasing Agreement" to "Manufacturing and Development Agreement". Signed and Agreed to by: Maxxon, Inc. BY: /s/ Gifford Mabie Date signed: November 17, 2003 ------------------------------- ----------------- Gifford Mabie President and CEO Maxxon, Inc. 9202 South Toledo Ave Tulsa, OK 74137 Globe Medical Tech, Inc. BY: /s/ Andy Hu Date signed: November 17, 2003 ------------------------------- ----------------- Andy Hu Presidnt and CEO Globe Medical Tech, Inc. 1766 West Sam Houston Parkway N. Houston, Texas 77043