NOTICE OF TERMINATION
WHEREAS, on April 1, 2002, Sanguine Corporation (the "Company" and
the "Licensor") entered into an Exclusive License Agreement with
Ascendiant-South America, LLC, a Nevada limited liability corporation (the
"Licensee"), pursuant to which the Licensee agreed to certain minimum levels
of annual production of the Licensed Products (the "Minimum Production"); and
in the event the Licensee failed to achieve the Minimum Production, to pay a
royalty to the Licensor; and
WHEREAS, the Licensee has failed to meet the Minimum Production (as
defined therein) and has failed to pay the Make-Up Royalty (as defined
therein) payments to the Licensor as set forth in Section 2.2 of the
Exclusive License Agreement and in the amounts per commercial Unit Produced
(as defined therein) as provided in Section 5.1 thereof;
NOW, THEREFORE, pursuant to Section 13.2 of the Exclusive License
Agreement, the Company hereby elects to terminate the above referenced
Exclusive License Agreement.
DATED this 24th day of September, 2004.
SANGUINE CORPORATION
By /s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx, Ph.D., MBA
