EX-10.3 9 pceexh10_3new.txt P--CE COMPUTERS SB-2, PURCHASE/SALES AGREEMENT EXHIBIT 10.3 ------------ THE PURCHASE AND SALES AGREEMENT -------------------------------- This Agreement, made this 17 th. Day of March. 2004, by and between P--CE --------------------------- Computers, Inc., a Nevada corporation doing business as Personal Computing Environments, having offices at Palm Springs, California, U.S.A., (hereafter as "A"=purchaser), and PC Frame, Inc. having its principal office at Room No. 201, A Bldg. Guroyootongsangga 636-62 Guro-Dong, Guro-Gu, Seoul Korea (hereafter as "B"=seller). WITNESSETH ---------- IN CONSIDERATION OF the mutual covenants contained herein, the parties hereto agree as follows. Article 1. Definitions ---------- ----------- Except where the context otherwise requires, the following terms and expressions used in this Agreement shall have the meaning respectively defined as follows: 1.1 The object of this contract is the personal computer setting frame, totally 20 units. (1 unit has been already delivered to A from B) 1.2 "Products" shall mean the finished, packaged products of the personal computer setting frames. Article 2. Payment and Delivery ---------- -------------------- 2.1 B agrees to deliver the 20 Products to A at the price of $18,000 USD, ($900/1 unit) 2.2 Payment for the Products by A is as follows. The first payment $15,520 shall be remitted within three (3) days after the date of this agreement. The upper $15,520 is consisted of the price of 10 units=$9,000, packing for 16 units & etc.=$2,000, transferring fee from Seoul to Busan for 16 units=$450, CFS charge for 16 units & etc.=$600, Insurance on 16 units=$40, Handling charge for 16 units=$1,000, shipping charge from Busan to L.A. for 16 units=$2,430. Three 1 (3) black units are to remain at the office of B and will be picked up on March ----- 27, 2004 by Benjamin Moglin of A. The second payment $9,000 shall be remitted when B has made the 5 modifications to the 19 units that have been discussed between Mr. Nam of B and Benjamin Moglin of A and shipped the products and A has received the evidence of shipping of 16 units. 2.3 Delivery shall be at the site of PCE's warehouse in Indio, California. U.S.A. 2.4 B shall ship 16 units of the Product within the 5th day of April 2004 at latest within the 15th day of April 2004. 2 Article 3. Assignment ---------- ---------- This Agreement shall not be assigned by B except with the prior written consent of A. Article 4. Governing Law ---------- ------------- This Agreement shall be interpreted and governed by the laws of the Republic of Korea. Article 5. Term ---------- ---- This Agreement shall become effective as of the date first above written. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed ------------------ by following officers. A: Purchaser ------------ P--CE Computers, Inc.: Allan Quattrin, President March 18, 2004 Name and Title Date /s/ Allan Quattrin Signature B: Seller --------- PC Frame, Inc.: Nam Ki Don, CEO March 19, 2004 Name and Title Date /s/ Nam Ki Don Signature 3