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| PAOS.OB > SEC Filings for PAOS.OB > Form 8-K on 4-Jun-2009 | All Recent SEC Filings |
4-Jun-2009
Entry into a Material Definitive Agreement
On June 4, 2009, the Registrant received the signature copy of the master distribution agreement (the "Agreement") entered into May 29, 2009 between the newly formed, 100% owned, domestic subsidiary of the Registrant, Tiger-Tight Corp. ("Tiger-Tight), and the German company, ESK Ceramics GmbH & Co. ("ESK").
The Agreement grants Tiger-Tight the right in the United States and Canada to exclusively market and distribute shims and washers more than .8 mm thick (and, with ESK approval, less than .8mm thick) utilizing ESK's proprietary surface coating which prevents joint relaxation. The shims and washers will be fabricated by or for ESK. The Agreement has an initial term extending through December 31, 2014 and may be extended for additional terms of 5 years each. The agreement is subject to usual and customary mutual termination provisions.
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