EX-10.26 29 ex10-26.txt WaxTech International, Inc. -------------------------------------------------------------------------------- 403 BRIARPARK HOUSTON, TEXAS 77042 713 339 1122 FAX: 713 339 1133 March 15, 2003 EnerTeck Chemical Corporation 10701 Corporate Drive, Suite 293 Stafford, Texas 77477 Dear Sirs: WaxTech International Inc. hereby assigns the "Distribution Agreement" between Mitsubishi International Corporation and WaxTech International, Inc., (dated December 15, 2002, and attached) for sales of EnerTeck products and services; and waives any future rights, commissions or receivables arising from EnerTeck's sales to Mitsubishi International Corporation as a result of said Distribution Agreement. WaxTech International, Inc. and EnerTeck have entered into a separate "Warrant Purchase Agreement" as compensation to Waxtech for assignment of the subject Mitsubishi Distribution Agreement, and said assignment is predicated that "Warrant Purchase Agreement". The above is authorized by the directors of WaxTech International and evidenced below by signature on behalf of WaxTech International, Inc.; and is effective this date. Please acknowledge EnerTeck's acceptance of this assignment with your countersignature below. /s/_____________________________ V. Patrick Keating President Waxtech International, Inc. /s/_____________________________ Derenda J. Keating Secretary and CFO WaxTech International, Inc. /s/_____________________________ Dwaine D. Reese Chairman and COO EnerTeck Chemical Corporation