Absichtserklärung – Englisch (Letter of intent)

Note on the translation: This document is a translation of the German-language model contract from mustervertrag-anwalt.de (horak.Rechtsanwälte). The model contract is based on German law; references to legislation relate to German laws. In the event of any questions regarding interpretation, the German legal terms shall prevail. If the matter involves cross-border issues, please have the template reviewed by a solicitor.

Letter of intent

between

…,

- hereinafter referred to as ‘CCC’ -

and

…

- hereinafter referred to as ‘3F’ -

Preamble

CCC operates in the market for the development, production, marketing, sale and distribution of shopping trolleys, children’s vehicles and combined children’s vehicles for use in a wide range of industrial and commercial sectors.

CCC and 3F aim to establish a mutually beneficial business relationship.

CCC intends to continue to retain exclusive rights to its trade and business secrets, as well as all its know-how and intellectual property rights.

3F sells the Step2 product 7830 Fire Engine For Two.

With this letter of intent, 3F aims to enable CCC to convert this product into a CCC product, specifically a shopping trolley.

Notwithstanding the foregoing, the parties agree as follows:

§ 1 Subject matter of the agreement

1. CCC intends to convert the Step2 product 7830 Fire Engine For Two (‘the product covered by the contract’), manufactured by Step2 Corp., Streetsboro, Ohio, USA, into a shopping trolley as a first step.

2. 3F undertakes to grant this right of conversion exclusively to CCC and, in particular, not to supply any competitors or current or potential competitors of CCC.

§ 2 Contract area

This agreement is binding on the parties in Germany, Austria and Switzerland (‘the Contract Territory’).