Document:

EX-10.1

SEVERANCE BENEFITS AGREEMENT

This Severance Benefits Agreement (this “Agreement”) by and between Dean Luvisa (“Executive”),
Leap Wireless International, Inc., a Delaware corporation (“Leap”), and Cricket Communications,
Inc., a Delaware corporation (“Cricket”) (individually, a “Party” and collectively, the “Parties”)
is made and entered into as of January 16, 2006 (the “Effective Date”). Leap and Cricket are
hereinafter collectively referred to as the “Companies.”

WHEREAS, Executive is an officer of Leap and Cricket, and is presently employed by Cricket;
and

WHEREAS, Cricket desires to provide Executive with certain severance benefits as an incentive
to remain in the employ of Cricket; and

WHEREAS, the Boards of Directors of Leap and Cricket have determined that it is in the best
interests of Leap and Cricket, respectively, and their stockholders, to enter in this Agreement.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for
other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby
acknowledged by each Party hereto, the Parties hereby agree as follows:

1. Term of Agreement. This Agreement shall commence on the Effective Date and shall
continue in effect through the December 31, 2006; provided, however, that on each of December 31,
2006 and December 31, 2007, the term of this Agreement shall be automatically extended for one
additional year unless, not later than the immediately preceding June 30, Leap or Cricket shall
have given notice to Executive that the term of this Agreement shall not be further extended.

2. Severance Benefits.

a. Severance Benefits. In the event that, during the term of this Agreement,
Executive’s employment is terminated by Cricket other than for Cause (as defined below), or
by Executive for Good Reason (as defined below), Executive shall be entitled to the
following:

(i) Cricket shall pay promptly to Executive, following the Date of Termination,
Executive’s accrued, unpaid base salary through the Date of Termination, and the
Companies shall pay all other amounts to which Executive is then entitled under any
compensation or benefit plan of the Companies in accordance with the terms and
conditions of such plans.

(ii) Cricket shall pay to Executive, following the Date of Termination and in
accordance with subsection (g), a lump sum severance benefit in cash (the “Severance
Payment”) equal to the sum of (A) one hundred percent (100%) of the Executive’s
annual base salary, plus (B) 100% of Executive’s target annual bonus under the
annual bonus plan of the Companies. For purposes of this clause, Executive’s annual
base salary shall mean Executive’s greatest annual base salary as in effect during
the twelve (12) months ending on the Date of Termination, and Executive’s target
annual bonus shall mean Executive’s greatest target annual bonus as in effect during
the twelve (12) months ending on the Date of Termination.

(iii) To the extent Executive elects continuation health care coverage for
Executive and his eligible dependents under Section 4980B(f) of the Internal Revenue
Code of 1986, as amended from time to time (the “Code”) and Sections 601-608 of the
Employee Retirement Income Security Act of 1974, as amended (“COBRA Coverage”),
Executive shall not be required to pay premiums for such COBRA Coverage for the
twelve month period commencing on the Date of Termination (or, if earlier, until
Executive is eligible for comparable coverage with a subsequent employer).

b. Cause. For purposes of this Section 2, “Cause” shall mean termination of
Executive’s employment by Cricket: (i) upon Executive’s willful failure substantially to
perform Executive’s duties with Cricket (other than any such failure resulting from
Executive’s incapacity due to physical or mental illness or any such actual or anticipated
failure after Executive’s issuance of a Notice of Termination (as defined below) for Good
Reason), as reasonably determined by the Board of Directors of Cricket (the “Cricket Board”)
after a written demand for substantial performance is delivered to Executive by the Cricket
Board, which demand specifically identifies the manner in which the Cricket Board believes
that Executive has not substantially performed such duties, provided that Executive shall
have been given a reasonable period, not to exceed fifteen (15) days, in which to cure such
failure (provided such failure is capable of being cured); (ii) upon Executive’s willful
failure substantially to follow and comply with the specific and lawful directives of the
Cricket Board (or the board of directors of Cricket’s parent corporation), or duly adopted
policies of Cricket which are consistent with Executive’s duties with Cricket (or Cricket’s
parent or subsidiary corporations or any successor thereof), as reasonably determined by the
Cricket Board (other than any such failure resulting from Executive’s incapacity due to
physical or mental illness or any such actual or anticipated failure after Executive’s
issuance of a Notice of Termination for Good Reason), after a written demand for substantial
performance is delivered to Executive by the Cricket Board, which demand specifically
identifies the manner in which the Cricket Board believes that Executive has not
substantially performed such directives, provided that Executive shall have been given a
reasonable period, not to exceed fifteen (15) days, in which to cure such failure (provided
such failure is capable of being cured); (iii) upon Executive’s commission of an act of
fraud or dishonesty impacting or involving Cricket (or Cricket’s parent or subsidiary
corporations or any successor thereof); (iv) upon Executive’s willful engagement in illegal
conduct or gross misconduct affecting Cricket; or (v) upon the Executive being convicted of,
or pleading nolo contendere to, the commission of a felony.

c. Good Reason. For purposes of this Section 2, “Good Reason” shall mean,
without Executive’s express written consent, the occurrence of any of the following
circumstances unless such circumstances are cured (provided such circumstances are capable
of being cured) prior to the Date of Termination specified in the Notice of Termination
given in respect thereof: (i) the continuous assignment to Executive of any duties
materially inconsistent with Executive’s positions with Cricket (or any parent or subsidiary
corporation or any successor thereof), a significant adverse alteration in the nature or
status of Executive’s responsibilities or the conditions of Executive’s employment with
Cricket (or any parent or subsidiary corporation or any successor thereof),, or any other
action that results in a material diminution in Executive’s position, authority, title,
duties or responsibilities with Cricket (or any parent or subsidiary corporation or any
successor thereof); (ii) reduction of Executive’s annual base salary as in effect on the
Effective Date or as the same may be increased from time to time thereafter; (iii) the
relocation of Cricket’s offices at which Executive is principally employed to a location
more than sixty (60) miles from such location; (iv) Cricket’s failure (or the failure of any
parent or subsidiary corporation or any successor thereof) to pay Executive any portion of
Executive’s current compensation; (v) Cricket’s failure (or the failure of any parent or
subsidiary corporation or any successor thereof) to continue in effect any material
compensation or benefit plan in which Executive participates, unless an equitable
arrangement (embodied in an ongoing substitute or alternative plan) has been made with
respect to such plan, or Cricket’s failure to continue Executive’s participation therein (or
in such substitute or alternative plan) on a basis not materially less favorable, both in
terms of the amount of benefits provided and the level of Executive’s participation relative
to other participants; (vi) Cricket’s failure (or the failure of any parent or subsidiary
corporation or any successor thereof) to continue to provide Executive with benefits
substantially similar in the aggregate to those enjoyed by Executive under any of Cricket’s
life insurance, medical, health and accident, disability, pension, retirement, or other
benefit plans in which Executive or Executive’s eligible family members were participating
immediately prior thereto, or the taking of any action by Cricket (or any parent or
subsidiary corporation or any successor thereof) which would directly or indirectly
materially reduce any of such benefits; (vii) Cricket or Leap’s failure to obtain a
satisfactory agreement from any successor to assume and agree to perform this Agreement; or
(viii) the continuation or repetition, after written notice of objection from Executive, of
harassing or denigrating treatment of Executive by Cricket (or any parent or subsidiary
corporation or any successor thereof) inconsistent with Executive’s position with Cricket.
Executive’s right to terminate employment with Cricket pursuant to this Section 2(c) shall
not be affected by Executive’s incapacity due to physical or mental illness. Executive’s
continued employment with Cricket (or any parent or subsidiary corporation or any successor
thereof) shall not constitute consent to, or a waiver of rights with respect to, any
circumstance constituting Good Reason hereunder.

d. Notice of Termination. Any purported termination of Executive’s employment
by Cricket for Cause or by Executive for Good Reason shall be communicated by Notice of
Termination to the other party hereto in accordance with Section 5. “Notice of Termination”
shall mean a written notice that shall indicate the specific termination provision in this
Section 2 relied upon and shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for the termination of employment under the provision so
indicated.

e. Date of Termination. For purposes of this Section 2, “Date of Termination”
shall mean the date specified in the Notice of Termination (which, in the case of a
termination by Cricket for Cause shall not be less than thirty (30) days after the date such
Notice of Termination is given, and in the case of a termination by Executive for Good
Reason shall not be less than fifteen (15) nor more than sixty (60) days after the date such
Notice of Termination is given).

f. General Release. In consideration of, and as a condition to receiving, the
severance benefits to be provided to Executive under Sections 2(a)(ii) and (iii), Executive
shall execute and deliver to the Companies the “General Release” set forth on Exhibit
A hereto on or after the Date of Termination and not later than twenty-one (21) days
after the Date of Termination (or, in the event that the termination of Executive’s
employment with Cricket is in connection with an exit incentive or other employment
termination program offered to a group or class of employees, not later than forty-five (45)
days after the Date of Termination (or, if later, the date Executive is provided with the
information required in accordance with Section 3(f) of the General Release)). In the event
that Executive fails to execute and deliver to the Companies the General Release in
accordance with this Section 2(f), or Executive revokes the General Release in accordance
with the terms thereof, Executive shall not receive the severance benefits set forth in
Sections 2(a)(ii) and (iii).

g. Timing of Severance Payment. The Severance Payment provided for in Section
2(a)(ii) shall be made not later than the tenth day following the date on which the General
Release by Executive becomes irrevocable.

3. Code Section 409A.

a. Short-Term Deferral Exemption. This Agreement is not intended to provide
for any deferral of compensation subject to Code Section 409A and, accordingly, the
Severance Payment payable under Section 2(a)(ii) is intended to be paid not later than the
later of: (i) the 15th day of the third month following Executive’s first
taxable year in which such severance benefit is no longer subject to a substantial risk of
forfeiture, and (ii) the 15th day of the third month following first taxable year
of the Companies in which such severance benefit is no longer subject to substantial risk of
forfeiture, as determined in accordance with Code Section 409A and any Treasury Regulations
and other guidance issued thereunder. The date determined under this subsection is referred
to as the “Short-Term Deferral Date.”

b. Compliance with Code Section 409A. Notwithstanding Sections 2(a)(ii),
2(a)(iii) and 2(g), in the event that the Severance Payment and benefits payable under
Sections 2(a)(ii) and 2(a)(iii) are not actually or constructively received by Executive on
or before the Short-Term Deferral Date, to the extent such Severance Payment or benefits
constitute a deferral of compensation subject to Code Section 409A, then: (i) subject to
clause (ii), such Severance Payment shall be payable upon Executive’s “separation from
service,” as defined in Code Section 409A(a)(2)(A)(i), with respect to the Companies, and
(ii) if Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i),
with respect to the Companies, such Severance Payment and benefits shall be payable upon the
date which is six months after the date of Executive’s “separation from service” (or, if
earlier, the date of Executive’s death) in accordance with Code Section 409A(a)(2)(B)(i) and
any Treasury Regulations or other guidance issued thereunder. In the event that the
Severance Payment is subject to this subsection, such Severance Payment shall be paid not
later than 60 days following the payment date determined under this subsection, and shall be
made subject to Section 2(f).

4. Successors; Binding Agreement. This Agreement shall inure to the benefit of and
shall be binding upon the Companies and their respective successors and assigns, including any
purchaser of all or substantially all of their respective assets, and shall be binding upon
Executive’s assigns, executors, administrators, beneficiaries, or their legal representatives.

5. Notice. For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when
delivered or mailed by United States certified or registered mail, return receipt requested,
postage prepaid, addressed to the last known mailing address of the respective Party, provided that
all notices to Cricket shall be directed to the attention of the Cricket Board with a copy to the
Secretary of Cricket, and all notices to Leap shall be directed to the attention of the Board of
Directors of Leap with a copy to the Secretary of Leap, or to such other address as any Party may
have furnished to the other in writing in accordance herewith, except that notice of change of
address shall be effective only upon receipt.

6. Non-Compete, Confidentiality and Non-Solicitation Covenants. In consideration of
the benefits to be provided to Executive under Section 2 of this Agreement, and in order to protect
the goodwill of Cricket, Executive hereby agrees to the following covenants.

a. Non-Compete. For a period of twelve (12) months commencing on the Date of
Termination, Executive shall not, directly or indirectly, own, manage, operate, join,
control or participate in the ownership, management, operation or control of, or be
connected as a director, officer, employee, partner, consultant or otherwise with, any
profit or nonprofit business or organization which, directly or indirectly competes with, or
in any way interferes with, the business of Cricket or any of its respective affiliates in
any region in which Cricket is then operating or has firm plans to operate.

b. Confidentiality. For the period of three years commencing on the Date of
Termination, Executive shall not, directly or indirectly, disclose or make available to any
person, firm, corporation, association or other entity for any reason or purpose whatsoever,
any Confidential Information (as defined below). Executive agrees that, upon termination of
Executive’s employment with Cricket, all Confidential Information in Executive’s possession
that is in writing or other tangible form (together with all copies or duplicates thereof,
including computer files) shall be returned to Cricket and shall not be retained by
Executive or furnished to any third party, in any form except as provided herein; provided,
however, that Executive shall not be obligated to treat as confidential, or return to
Cricket copies of any Confidential Information that (i) was publicly known at the time of
disclosure to Executive, (ii) becomes publicly known or available thereafter other than by
any means in violation of this Agreement or any other duty owed to Cricket by any person or
entity, or (iii) is lawfully disclosed to Executive by a third party. As used in this
Agreement, the term “Confidential Information” means: information disclosed to Executive or
known by Executive as a consequence of or through Executive’s relationship with Cricket,
about the customers, employees, business methods, technical operations, public relations
methods, organization, procedures or finances, including, without limitation, information of
or relating to customer lists, of Cricket and its affiliates.

c. Non-Solicitation. For the period commencing on the Date of Termination and
terminating on the third anniversary thereof, Executive shall not, either on Executive’s own
account or jointly with or as a manager, agent, officer, employee, consultant, partner,
joint venture, owner or shareholder or otherwise on behalf of any other person, firm or
corporation, directly or indirectly solicit or attempt to solicit away from Cricket, or any
of its affiliates, any of its officers or employees or offer employment to any person who,
on or during the six (6) months immediately preceding the date of such solicitation or
offer, is or was an officer or employee of Cricket, or any of its affiliates; provided,
however, that a general advertisement to which an employee of Cricket, or any of its
affiliates, responds shall in no event be deemed to result in a breach of this Section 6(c).

d. Breach of Covenants. In the event that Executive breaches any of the
provisions of this Section 5, or threatens to do so, in addition to and without limiting or
waiving any other remedies available to Cricket in law or in equity, Cricket shall be
entitled to immediate injunctive relief in any court having the capacity to grant such
relief, to restrain such breach or threatened breach and to enforce this Section 6.
Executive acknowledges that it is impossible to measure in money the damages that Cricket
will sustain in the event that Executive breaches or threatens to breach this Section 6 and,
in the event that Cricket institutes any action or proceeding to enforce this Section 6
seeking injunctive relief, Executive hereby waives and agrees not to assert or use as a
defense a claim or defense that Cricket has an adequate remedy at law. Also, in addition to
any other remedies available to Cricket in law or in equity, in the event that Executive
breaches the provisions of this Section 6 in any material respect, Executive shall forfeit
Executive’s right to further benefits under Section 2 and Executive shall be obligated to
repay to Cricket the benefits that Executive has received under Section 2. If a court or
arbitrator shall hold that the duration, scope or area restriction or other provision of
this Section 6 is unreasonable under the circumstances now or then existing, the Parties
hereto agree that the maximum duration, scope or area restriction reasonable under the
circumstances shall be substituted for the stated duration, scope or area restriction.

7. Miscellaneous. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing and signed by
Executive and such officer of Cricket and Leap as may be specifically designated thereby. No
waiver by any Party hereto at any time of any breach by any other Party hereto of or compliance
with, any condition or provision of this Agreement to be performed by such other Party shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time. No agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by any Party which are not expressly set forth
in this Agreement. Executive acknowledges that Executive has consulted with counsel (or has had a
reasonable opportunity to consult with counsel) and is fully aware of Executive’s rights and
obligations under this Agreement. The validity, interpretation, construction and performance of
this Agreement shall be governed by the laws of the State of California without regard to its
conflicts of law principles. All references to sections of any federal, state or local law shall
be deemed also to refer to any successor provisions to such sections. Any payments provided for
hereunder shall be paid net of any applicable withholding required under federal, state or local
law. The Section headings contained in this Agreement are for convenience only, and shall not
affect the interpretation of this Agreement.

8. Severability. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision of this Agreement,
which shall remain in full force and effect.

9. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the same
instrument.

10. Arbitration; Dispute Resolution, Etc. Any disagreement, dispute, controversy or
claim arising out of or relating to this Agreement or the interpretation of this Agreement or any
arrangements relating to this Agreement or contemplated in this Agreement or the breach,
termination or invalidity thereof shall be settled by final and binding arbitration administered by
the American Arbitration Association (“AAA”) in San Diego, California in accordance with its then
existing National Rules for the Resolution of Employment Disputes. In the event of such an
arbitration proceeding, the Parties shall select a mutually acceptable neutral arbitrator from
among the AAA panel of arbitrators. In the event the Parties cannot agree on an arbitrator, the
Administrator of AAA will appoint an arbitrator. Neither the Parties nor the arbitrator shall
disclose the existence, content, or results of any arbitration hereunder without the prior written
consent of all Parties. Except as provided herein, the Federal Arbitration Act shall govern the
interpretation, enforcement and all proceedings. The arbitrator shall apply the substantive law
(and the law of remedies, if applicable) of the state of California, or federal law, or both, as
applicable and the arbitrator is without jurisdiction to apply any different substantive law. The
arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary
judgment by any party and shall apply the standards governing such motions under the Federal Rules
of Civil Procedure. The arbitrator shall render an award and a written, reasoned opinion in
support thereof. Judgment upon the award may be entered in any court having jurisdiction thereof.
Cricket shall pay all fees and expenses of the Arbitrator regardless of the result and shall
provide all witnesses and evidence reasonably required by Executive to present Executive’s case.
Cricket shall pay to Executive all reasonable arbitration expenses and legal fees incurred by
Executive if Executive prevails in enforcing or obtaining his or her rights or benefits provided by
this Agreement. Such payments shall be made within five (5) days after Executive’s request for
payment accompanied with such evidence of fees and expenses incurred as Cricket reasonably may
require.

11. At-Will Employment. Nothing in the foregoing diminishes or alters Cricket’s
policy of at-will employment for all employees, where both Cricket and Executive may terminate the
employment relationship at any time and for any reason, with or without cause or notice.

12. Entire Agreement. This Agreement sets forth the entire agreement of the Parties
hereto in respect of the subject matter contained herein and supersedes all prior agreements,
promises, covenants, arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party hereto.

IN WITNESS WHEREOF, the Parties have signed their names as of the day and year first above
written.

LEAP WIRELESS INTERNATIONAL, INC.

By: /s/ S. Douglas Hutcheson

Name: S. Douglas Hutcheson

Title: President and Chief Executive Officer

CRICKET COMMUNICATIONS, INC.

By: /s/ S. Douglas Hutcheson

Name: S. Douglas Hutcheson

Title: President and Chief Executive Officer

EXECUTIVE

By: /s/ Dean Luvisa

Name: Dean Luvisa

1

GENERAL RELEASE

1. General Release of Claims. In consideration of the benefits under Section 2 of the
Severance Benefits Agreement (the “Agreement”), effective as of January 16, 2006, by and between
Leap Wireless International, Inc. (“Leap”), Cricket Communications, Inc. (“Cricket”) (collectively,
the “Companies”) and Dean Luvisa (“Executive”), Executive does hereby for himself or herself and
his or her spouse, beneficiaries, heirs, successors and assigns, release, acquit and forever
discharge the Companies and their respective stockholders, officers, directors, managers,
employees, representatives, related entities, successors and assigns, and all persons acting by,
through or in concert with them (the “Releasees”) of and from any and all claims, actions, charges,
complaints, causes of action, rights, demands, debts, damages, or accountings of whatever nature,
except for criminal activity, known or unknown, which Executive may have against the Releasees
based on any actions or events which occurred prior to the date of this General Release, including,
but not limited to, those related to, or arising from, Executive’s employment with the Companies,
or the termination thereof, any claims under Title VII of the Civil Rights Act of 1964, the Federal
Age Discrimination and Employment Act and the California Fair Employment and Housing Act, but
excluding claims under the Agreement (collectively, “Claims”). This General Release shall not,
however, constitute a waiver of any of Executive’s rights under the Agreement or under any
outstanding stock option granted to Executive, or under the terms of any employee benefit plan of
the Companies in which Executive is a participant.

2. Release of Unknown Claims. In addition, Executive expressly waives all rights
under Section 1542 of the Civil Code of the State of California, which reads as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIM FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN
BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.

3. Older Worker’s Benefit Protection Act. Executive agrees and expressly acknowledges
that this General Release includes a waiver and release of all claims which Executive has or may
have under the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621,
et seq. (“ADEA”). The following terms and conditions apply to and are part of the
waiver and release of the ADEA claims under this General Release:

a. That the Agreement and this General Release are written in a manner calculated to be
understood by Executive.

b. The waiver and release of claims under the ADEA contained in this General Release do
not cover rights or claims that may arise after the date on which Executive signs this
General Release.

c. The Agreement provides for consideration in addition to anything of value to which
Executive is already entitled.

d. Executive is advised to consult an attorney before signing this General Release.

e. Executive is afforded twenty-one (21) days (or, in the event that the termination of
Executive’s employment is in connection with an exit incentive or other employment
termination program, forty-five (45) days) after Executive is provided with this General
Release to decide whether or not to sign this General Release. If Executive executes this
General Release prior to the expiration of such period, Executive does so voluntarily and
after having had the opportunity to consult with an attorney.

f. In the event that the termination of Executive’s employment is in connection with an
exit incentive or other employment termination program, Executive is provided with written
information, calculated to be understood by the average individual eligible to participate,
as to:

(i) any class, unit, or group of individuals covered by such program, any
eligibility factors for such program, and any time limits applicable to such
programs; and

(ii) the job titles and ages of all individuals eligible or selected for the
program, and the ages of all individuals in the same job classification or
organizational unit who are not eligible or not selected for the program.

g. Executive will have the right to revoke this General Release within seven (7) days
of signing this General Release. In the event this General Release is revoked, this General
Release will be null and void in its entirety, and Executive will not receive the benefits
described in Section 2 of the Agreement.

h. If Executive wishes to revoke the General Release, Executive shall deliver written
notice stating his intent to revoke this General Release to Cricket’s President on or before
the seventh (7th) day after the date hereof.

4. No Assignment of Claims. Executive represents and warrants to the Releasees that
there has been no assignment or other transfer of any interest in any Claim which Executive may
have against the Releasees, or any of them, and Executive agrees to indemnify and hold the
Releasees harmless from any liability, claims, demands, damages, costs, expenses and attorneys’
fees incurred as a result of any person asserting any such assignment or transfer of any rights or
Claims under any such assignment or transfer from such party.

5. No Suits or Actions. Executive agrees that if he or she hereafter commences, joins
in, or in any manner seeks relief through any suit arising out of, based upon, or relating to any
of the Claims released hereunder, or in any manner asserts against the Releasees any of the Claims
released hereunder, then he or she will pay to the Releasees against whom such suit or Claim is
asserted, in addition to any other damages caused thereby, all attorneys’ fees incurred by such
Releasees in defending or otherwise responding to said suit or Claim.

6. No Admission. Executive further understands and agrees that neither the payment of
money nor the execution of this Release shall constitute or be construed as an admission of any
liability whatsoever by the Releasees.

EXECUTIVE

     

Date:     

2Stock Purchase Agreement dated January 21, 2006

     

    Exhibit
      10.1

     

    STOCK
      PURCHASE AGREEMENT 

     

    THIS
      STOCK PURCHASE AGREEMENT is
      made as of the 11th
      day of January, 2006 by and between the following:

    

    (a)     
      AMERICHIP
      INTERNATIONAL, INC. (the
      "Company"), a Nevada corporation, whose address for purposes of this Agreement
      is 9282 General Drive, Suite 100, Plymouth, Michigan 48170-4607; and

     

    (b)     
      MARC
      WALTHER (“Walther”)
      whose address for purposes of this Agreement is 16906 Kenneth Drive, Macomb,
      MI
      48044 and EDWARD
      RUTKOWSKI
      (“Rutkowski”, with Walther the “Investors”), whose address for purposes of this
      Agreement is 641 Robins Nest Drive, Shelby Twp, MI 48035. 

    

     

    Recitals.

    

    A.     
      The
      Company and Investors are executing and delivering this Agreement in reliance
      upon the exemption from securities registration afforded by the provisions
      of
      Regulation D (“Regulation D”), as promulgated by the U.S. Securities and
      Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended
      (the “Securities Act”).

    

    B.     
      The
      Company desires to satisfy and cancel the indebtedness due and owing to the
      Investors under the terms of a Licensing Agreement entered into in January,
      2003
      with the issuance of shares of its $0.001 par value common stock (“Common
      Stock”), and the Investors desire to purchase and receive shares of Common Stock
      in satisfaction of indebtedness due and owing to them by the Company, all in
      accordance with the terms and provisions set forth in this Agreement.

    

    NOW
      THEREFORE
      in consideration of the foregoing recitals, the mutual representations,
      warranties and covenants contained herein and other good and valuable
      consideration, the receipt and sufficiency of which is hereby acknowledged,
      the
      parties agree as follows:

    

    I.         PURCHASE
      AND SALE TRANSACTION.

    

    1.1     
      Sale
      and Issuance of Common Stock.  Subject
      to the terms and conditions of this Agreement, the Investors agree to purchase,
      and the Company agrees to sell and issue to the Investors, shares of its Common
      Stock as follows:

    

    (a)    
      Walther
      shall be sold and issued 12,000,000 shares of Common Stock in consideration
      and
      exchange for the payment, satisfaction and cancellation of indebtedness due
      and
      owing to Walther by the Company in the aggregate amount $1,020,000.00; being
      the
      accrued principal and accrued interest due and owing as of January 1, 2006
      plus
      the discounted present value of the monthly payments arising from the unpaid
      $650,000 principal and interest due thereon

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    to
      him under the terms of that certain Licensing Agreement dated on or about
      January 21, 2003. The purchase price per share of Common Stock shall be $0.085.
      

    

    (b)     
      Rutkowski
      shall be sold and issued 12,000,000 shares of Common Stock in consideration
      and
      exchange for the payment, satisfaction and cancellation of indebtedness due
      and
      owing to Rutkowski by the Company in the aggregate amount of $1,020,000.00;
      being the accrued principal and accrued interest due and owing as of January
      1,
      2006 plus the discounted present value of the monthly payments arising from
      the
      unpaid $650,000 principal and interest due thereon to him under the terms of
      that certain Licensing Agreement dated on or about January 21, 2003. The
      purchase price per share of Common Stock shall be $0.085. 

    

    1.2     
      Closing.The
      initial purchase, sale and issuance of the Common Stock (the “Closing”) shall
      take place on January 11, 2006 (the “Closing Date”) at a time and place to be
      mutually agreed upon by the parties. At the Closing:

    

    (a)     
      The
      Company shall deliver to, or cause to be delivered to, Walther a certificate
      representing 12,000,000 shares of the Company’s Common Stock; 

    

    (b)     
      The
      Company shall deliver to, or cause to be delivered to, Rutkowski a certificate
      representing 12,000,000 shares of the Company’s Common Stock; 

    

    (c)     
      Walther
      shall execute and deliver to the Company a document or instrument, in such
      form
      and content as acceptable to the Company, whereby Walther covenants,
      acknowledges and agrees that the indebtedness due and owing to him under the
      terms of that certain Licensing Agreement dated on or about January 21, 2003
      has
      been paid and satisfied in full; 

    

    (d)     
      Rutkowski
      shall execute and deliver to the Company a document or instrument, in such
      form
      and content as acceptable to the Company, whereby Rutkowski covenants,
      acknowledges and agrees that the indebtedness due and owing to him under the
      terms of that certain Licensing Agreement dated on or about January 21, 2003
      has
      been paid and satisfied in full; and 

    

    (e)     
      Each
      party hereto shall execute and deliver such other documents or instruments
      as
      may be necessary in order to consummate the purchase and sale transaction as
      provided for under the terms and provisions of this Agreement. 

    

    1.3     
      Restrictions
      on Transfer.
      The Company’s shares of Common Stock, when issued and delivered to the Investors
      hereunder, shall not be registered under the Securities Act, nor shall the
      Investors be granted any registration rights as to such shares. Each certificate
      representing shares of the Common Stock will bear a customary restrictive legend
      which states in effect that such shares have not been registered under the
      Securities Act and consequently may not be transferred, assigned, sold or
      hypothecated unless registered under the Securities Act or, in the opinion
      of
      Company’s counsel, an exemption from the registration requirements of the
      Securities Act is available for such transaction. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    II.       
      REPRESENTATIONS
      AND WARRANTIES.

    

    2.1     
      Representations
      and Warranties of the Company.
      The Company hereby represents and warrants to the Investors that the statements
      contained in this Section 2.1 are correct and complete as of the date of this
      Agreement and will be correct and complete as of the Closing Date (as though
      then and as though the Closing Date was substituted for the date of this
      Agreement throughout this Section 2.1), except as set forth in the disclosure
      schedule accompanying this Agreement (the “Company Disclosure Statement”). The
      Company Disclosure Statement will be arranged in paragraphs corresponding to
      the
      lettered subsections contained in this Section 2.1. 

    

    (a)     
      Due
      Organization.
      The Company and each of its subsidiaries is duly organized, validly existing,
      and in good standing under the laws of the jurisdiction in which it is
      organized, and has all requisite corporate power and authority to conduct its
      business, to own its properties and to execute and deliver, and to perform
      all
      of its obligations under this Agreement to which it is a party.

    

    (b)     
      Due
      Authority.
      The execution, delivery and performance under this Agreement and the documents
      provided for herein by Company have been authorized by all necessary corporate
      action. 

    

    (c)     
      Capitalization. As
      of the date hereof and as of Closing, the Company’s authorized capitalization
      consists of 500,000,000 shares of common stock, no par value, of which
      245,918,635 shares are issued and outstanding and approximately 3,250,000 shares
      have been reserved for potential issuance with respect to certain warrants.
      All
      issued and outstanding shares have been duly authorized, validly issued and
      fully paid and nonassessable with no personal liability attached to the
      ownership thereof, and subject to no preemptive rights of any shareholder.
       

     

    (d)     
      Outstanding
      Options, Warrants or Other Rights.
      The Company has no outstanding warrants, options or similar rights whereby
      any
      person may subscribe for or purchase shares of its common stock, nor are there
      any other securities outstanding which are convertible into or exchangeable
      for
      its common stock except for 3,250,000 warrants included in a Form SB-2
      Registration Statement filed in September, 2004 which has never been declared
      effective. There are no contracts or commitments pursuant to which any person
      may acquire or the Company may become bound to issue any shares of its common
      stock. 

    

    (e)     
      Issuance
      of Shares. The
      shares of Common Stock to be issued to the Investors are duly authorized and
      reserved for issuance and, upon issuance, will be validly issued, fully paid
      and
      non-assessable, and free from all taxes, liens, claims and encumbrances and
      will
      not be subject to preemptive rights or other similar rights of stockholders
      of
      the Company, other than (i) restrictions on transferability as may be applicable
      under federal and state securities laws, and (ii) restrictive stock legend
      as
      contemplated by this Agreement.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (f)     
      Stockholder
      Approval.
      Approval of the stockholders of the Company is not required for the
      authorization, execution and delivery of this Agreement, the performance of
      all
      obligations of the Company hereunder, and the authorization, issuance (or
      reservation for issuance) and delivery of the certificates evidencing the shares
      to be issued to the Investors as provided for in Sections 1.2(c) and (d) above.
      

    

    (g)     
      Government
      Consents.
      Other than those that have been duly obtained or filings which are required
      under applicable securities laws, which filings, if any, will be made within
      the
      applicable periods required by such laws, no consent, approval, order or
      authorization of, or registration, qualification, designation, declaration
      or
      filing with, any local, state or federal governmental authority, on the part
      of
      the Company is required in connection with the consummation of the transactions
      contemplated by this Agreement. 

    

    (h)     
      Offering.
      Subject to the truth and accuracy of the Investor’s representations set forth in
      Section 1.2 of this Agreement, the offer, sale and issuance of the shares of
      Common Stock as contemplated by this Agreement are exempt from the registration
      requirements of the Securities Act of 1933, as amended, and applicable state
      securities laws, and neither the Company nor any authorized agent acting on
      its
      behalf will take any action hereafter that would cause the loss of such
      exemption. 

    

    (i)     
      Noncontravention.
      The execution of this Agreement by the Company and the consummation of the
      transactions contemplated hereby will not result in the breach of any term
      or
      provision of, or constitute a default under, any provision or restrictions
      of
      any indenture, agreement, or other instrument or any judgment, order, or decree
      to which the Company is a party or by which it is bound, or will it conflict
      with any provisions or the Articles of Incorporation or Bylaws of the Company.
      

    

    (j)     
      Litigation.
      There are no suits, actions or proceedings at law or in equity, pending or
      threatened against or affecting the Company that can be expected to result
      in
      any materially adverse change in the business, properties, operations,
      prospects, or assets or in its condition, financial or otherwise. At Closing,
      there will be no outstanding order, judgment, injunction, award or decree of
      any
      court, government or regulatory body or other tribunal against or involving
      the
      Company.

    

    (k)     
      Laws
      and Regulations.
      The Company has complied with all laws, rules, regulations and ordinances
      relating to or affecting the conduct of the Company's business and the Company
      possesses and holds all licenses and permits required in its business by
      federal, state or local authorities.

    

    (l)     
      Absence
      of Certain Changes.
      Since October 17, 2005, there has been no material adverse change and no
      material adverse development in the business, properties, operations, financial
      condition or results of operation of the Company or any of its subsidiaries,
      except as set forth in the Company’s Disclosure Statement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (m)     
      SEC
      Filings.
      The Company has made all filings with the SEC that it has been required to
      make
      under the Securities Act and the Securities Exchange Act of 1934, as amended
      (collectively the “Public Reports”). Each of the Public Reports has complied
      with the Securities Act and the Securities Exchange Act in all material
      respects. None of the Public Reports, as of their respective dates, contained
      any untrue statement of a material fact, or omitted to state a material fact
      necessary in order to make the statements made therein, in light of the
      circumstances under which they were made, not misleading.

    

    (n)     
      Full
      Disclosure.
      Neither this Agreement nor any other instrument furnished by or on behalf of
      the
      Company contains any untrue statement of a material fact or omits to state
      a
      material fact necessary to make any statements made not misleading, and there
      is
      no fact that materially and adversely affects, or foreseeably may materially
      and
      adversely affect, the Company’s financial condition, liabilities, business, or
      assets that have not been disclosed herein or in any other
      instrument.

    

    (o)     
      Representations
      and Warranties True at Closing.
      Except as expressly herein otherwise provided, all of the representations and
      warranties of the Company set forth herein shall be true as of the Closing
      Date
      as though such representations and warranties were made on and as of such
      date.

    

    2.2     
      Representations
      and Warranties of Investors.
      The Investors represent and warrant to the Company that the statements contained
      in this Section 2.2 are correct and complete as of the date of this Agreement
      and will be correct and complete as of the Closing Date (as though then and
      as
      though the Closing Date was substituted for the date of this Agreement
      throughout this Section 2.2): 

    

    (a)     
      Authorization.
      The Investors have full power and authority to enter into this Agreement, which
      constitutes the valid and legally binding obligation of the Investors
      enforceable against the Investors in accordance with its terms, except (i)
      as
      limited by applicable bankruptcy, insolvency and other laws of general
      application affecting the enforcement of creditors’ rights generally, and (ii)
      as limited by laws relating to the availability of specific performance,
      injunctive relief, or other equitable remedies. 

    

    (b)     
      Investment
      Intent.
      Each Investor is acquiring his respective shares of the Company’s Common Stock
      as contemplated under the terms of this Agreement for investment and his own
      account, not as a nominee or agent, and not with a view to the resale or
      distribution of any part thereof and each Investor has no present intention
      of
      selling, granting any participation in, or otherwise distributing the same.
      

    

    (c)     
      Disclosure
      of Information. The
      Investors have received all information they consider necessary or appropriate
      for deciding whether to purchase the shares of the Company’s Common Stock as
      provided for herein. The Investors further represent that they have

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    had
      an opportunity to ask questions and receive answers from the Company regarding
      the terms and conditions of the offering of the Company’s Common Stock and the
      business, properties, prospects and financial condition of the Company. The
      foregoing, however, does not limit of modify the representations and warranties
      in Section 1.2 of this Agreement of the right of the Investors to rely
      thereon.

    

    (d)     
      Investment
      Experience.
      Each Investor acknowledges that he is able to fend for himself, can bear the
      economic risk of his investment, and has such knowledge and experience in
      financial and business matters that he is capable of evaluating the merits
      and
      risks of an investment in the shares of the Company’s Common Stock.

    

    (e)     
      Accredited
      Investor.
      Each Investor is an “accredited investor” within the meaning of Rule 501 of
      Regulation D promulgated under the Securities Act of 1933, as amended, as
      presently in effect. 

    

    (f)     
      Restricted
      Securities.
      The Investors understand that the shares of Common Stock they are purchasing
      are
      characterized as “restricted securities” under the federal securities laws
      inasmuch as they are being acquired from the Company in a transaction not
      involving a public offering and that under such laws and applicable regulations
      such securities may be resold without registration under the Securities Act
      of
      1933, as amended, only in certain limited circumstances. In this connection,
      the
      Investors represent that they are familiar with Rule 144 promulgated under
      the
      Securities Act of 1933, as amended, as presently in effect, and understands
      the
      resale limitations imposed thereby and by the Securities Act of 1933, as
      amended. 

    

    (g)     
      Stock
      Legends.
      Each Investor acknowledges and understands that the certificate(s) representing
      his shares of Common Stock issued under the terms of this Agreement shall bear
      a
      customary restrictive legend conspicuously noted on said
      certificate(s).

    

    III.     
      COVENANTS.

    

    From
      the date of this Agreement until the Closing Date, the Company and Investors
      agree as follows:

    

    3.1     
      General. Each
      of the parties hereto will use its best efforts to take all actions and to
      do
      all things necessary in order to consummate and make effective the transaction
      contemplated by this Agreement (including satisfaction of the closing conditions
      set forth in Article IV below).

    

    3.2     
      Regulatory
      Matters and Approvals.
      The parties hereto will give notices to, make any filings with, and use its
      best
      efforts to obtain any authorizations, consents and approvals of governments
      and
      governmental agencies in connection with the matters referred to herein. Without
      limiting the generality of the foregoing:

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (a)     
      Securities
      Law Compliance.
      The Company will take all actions as may be necessary, proper and advisable,
      in
      order to claim an exemption from registration requirements under Federal and
      state securities laws in connect with the offering and issuance of the shares
      of
      Common Stock to the Investors as provided for under this Agreement.  

    

    3.3     
      Reporting
      Status.
      So long as the Investors beneficially own any shares of Common Stock , the
      Company shall timely file all reports required to be filed with the SEC pursuant
      to the Securities Exchange Act of 1934 (“Exchange Act”), and the Company shall
      not terminate its status as an issuer required to file reports under the
      Exchange Act even if the Exchange Act or the rules and regulations thereunder
      shall permit such termination. 

    

    3.4     
      Access.
      The Company agrees that it will permit the Investors and their agents,
      accountants, attorneys and other representatives full access, during reasonable
      business hours throughout the term or applicability of this Agreement, to all
      premises, properties, personnel, books, records, contracts and documents of
      or
      pertaining to the Company’s business affairs, operations, properties and
      financial affairs as the Investors may reasonably request. All information
      provided shall be furnished strictly subject to the confidentiality provision
      of
      this Agreement. 

    

    3.5     
      Confidentiality.
      All information and documents furnished pursuant to Section 3.4 of this
      Agreement shall be deemed and treated as proprietary in nature. Each Investor
      agrees that he shall hold all information received pursuant to or in connection
      with this Agreement in the highest and strictest confidence and shall not reveal
      any such information to any individual who is not one of his agents, attorney
      or
      accountant, and that he will not use any such information obtained for any
      purpose whatsoever other than assisting in his due diligence inquiry precedent
      to the Closing and, if this Agreement is terminated for any reason whatsoever,
      agrees to return to the Company any all tangible embodiments (and all copies)
      thereof which are in his possession. This covenant shall survive the
      consummation or termination of this Agreement. 

    

    3.6     
      Publicity
      and Filings.
      All press releases, shareholder communications, filings with the SEC or other
      governmental agency or body and other information and publicity generated by
      the
      Company regarding this Agreement shall be reviewed and approved by the Investors
      and their counsel before release or dissemination to the public or filing with
      any governmental agency or body whatever. 

    

    3.7     
      Notice
      of Developments.
      Each party hereto will give prompt written notice to the other of any material
      adverse development causing a breach of any of its own representations and
      warranties in Sections 2.1, 2.2 and 2.3 above. No disclosure by any party hereto
      pursuant to this Section 3.7, however, shall be deemed to amend or supplement
      the disclosure statement provided under the terms of this Agreement or to
      prevent or cure any breach of warranty, breach of covenant or
      misrepresentation.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    IV.     
      CONDITIONS
      TO THE CLOSING.

    

    4.1     
      Conditions
      Precedent to Closing by Company.
      The obligation of the Company to consummate the sale and issuance to the
      Investors of shares of Common Stock contemplated by this Agreement are subject
      to satisfaction, or written waiver by the Investors, of the following conditions
      by the Investors at or before the Closing Date:

    

    (a)     
      Representations
      and Warranties True.
      The representations and warranties by Investors shall have been correct on
      and
      as of the Closing Date with the same force and effect (except as expressly
      provided in the Agreement or otherwise approved in writing by the Company)
      as
      though such representations and warranties had been made on and as of the
      Closing Date.

    

    (b)     
      Performance.
      The Investors shall have performed and complied with all terms, covenants,
      agreements and conditions contained in this Agreement that are required to
      be
      performed or complied with by them on or before the Closing. 

    

    (c)     
      Acknowledgment
      of Satisfaction of Indebtedness.
      The Investors shall have executed and delivered to the Company such document
      or
      instrument at the Closing as contemplated pursuant to Sections 1.2(c) and (d)
      above. 

    

    (d)     
      Qualification.
      All authorizations, approvals, or permits, if any, of any governmental authority
      or regulatory body of the United States or of any state that are required in
      connection with the lawful issuance and sale of the shares of Common Stock
      as
      contemplated by this Agreement shall be duly obtained and effective as of the
      Closing. 

    

    4.2     
      Conditions
      to Investor's Obligations.
      The obligations of the Investors under this Agreement are subject to
      satisfaction, or written waiver by the Company, of the following conditions
      by
      the Company at or before the Closing Date:

    

    (a)     
      Representations
      and Warranties True.
      The representations and warranties by the Company in the Agreement shall have
      been correct on and as of the Closing Date with the same force and effect
      (except as expressly provided in the Agreement or otherwise approved in writing
      by the Shareholders) as though such representations and warranties had been
      made
      on and as of the Closing Date.

    

    (b)     
      Performance.
      The Company shall have performed and complied in all material respects with
      all
      terms, covenants, agreements and conditions contained in this Agreement that
      are
      required to be performed or complied with by it on or before the Closing.

    

    (c)     
      Secretary’s
      Certificate.
      The Investors shall have received a certificate, dated the Closing Date and
      signed by the corporate secretary of the Company (or other authorized officer
      or
      representative of the Company), certifying the truth and correctness of the
      resolutions of

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    the
      Board approving the Company entering into this Agreement, the consummation
      of
      the transactions contemplated herein and certifying as to the incumbency of
      the
      officers authorized to execute this Agreement and other related documents and
      instruments. 

     

    (d)     
      Qualifications.
      All authorizations, approvals, or permits, if any, of any governmental authority
      or regulatory body of the United States or of any state that are required in
      connection with the lawful issuance and sale of the shares of Common Stock
      as
      contemplated by this Agreement shall be duly obtained and effective as of the
      Closing. 

    

    (e)     
      Stock
      Certificates.
      The Company shall have delivered to the Investors stock certificates
      representing the shares of Common Stock as set forth in Sections 1.2 above.
      

    

    

    V.       
      TERMINATION.

    

    5.1      
      Termination
      of Agreement.
      This Agreement may be terminated as provided below:

    

    (a)     
      The
      parties hereto may terminate this Agreement by mutual consent at any time prior
      to the Closing Date;

    

    (b)     
      The
      Company may terminate this Agreement by giving written notice to the Investors
      at any time prior to the Closing Date (1) in the event the Investors have
      breached any material representation, warranty, or covenant contained in this
      Agreement in any material respect, the Company has notified the Investors of
      this breach, and the breach has continued without cure for a period of 10 days
      after the notice of breach, or (2) if the Closing shall not have occurred on
      or
      before January 17, 2006 by reason of the failure of any condition precedent
      under Section 4.1 hereof (unless the failure results primarily from the Company
      breaching any representation, warranty, or covenant contained in this
      Agreement); and 

    

    (c)     
      The
      Investors may terminate this Agreement by giving written notice to the Company
      at any time prior to the Closing Date (1) in the event the Company has breached
      any material representation, warranty, or covenant contained in this Agreement
      in any material respect, the Investors have notified the Company of this breach,
      and the breach has continued without cure for a period of 10 days after the
      notice of breach, or (2) if the Closing shall not have occurred on or before
      January 17, 2006 by reason of the failure of any condition precedent under
      Section 4.2 hereof (unless the failure results primarily from the Investors
      breaching any representation, warranty, or covenant contained in this
      Agreement).

    

    5.2     
      Effect
      of Termination.
      If any party hereto terminates this Agreement pursuant to Section 5.1 above,
      all
      rights and obligations of the parties hereunder shall terminate without any
      liability of any party to the other party (except for any liability of any
      Party
      then in breach);

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    provided,
      however, that the confidentiality provisions contained in Section 3.5 above
      shall survive any such termination.

    

    VI.     
      GENERAL
      PROVISIONS.

    

    6.1     
      Entire
      Agreement.
      This Agreement embodies the entire agreement and understanding between the
      parties concerning the subject matter hereof and supersedes any and all prior
      negotiations, understandings or agreements in regard thereto.

    

    6.2     
      Applicable
      Law.
      This Agreement shall be construed in accordance and governed by the laws of
      the
      State of Nevada.

    

    6.3     
      Notices.
      Unless otherwise changed by notice given in accordance with this provision,
      any
      notice or other communications required or permitted herein shall be deemed
      given if delivered personally or sent by certified mail, postage prepaid, return
      receipt requested, addressed to the other parties at the addresses set forth
      above. 

    

    6.4     
      Waiver.
      All rights and remedies under this Agreement are cumulative and are not
      exclusive of any other rights and remedies provided by law. No delay or failure
      in the exercise of any right or remedy arising under this Agreement shall
      operate as a waiver of any subsequent right or remedy subsequently arising
      under
      this Agreement.

    

    6.5     
      Survival
      of Provisions.
      All agreements, representations, covenants and warranties on the part of the
      parties contained herein or in any instrument executed and delivered in
      connection herewith shall survive closing of this Agreement and any
      investigation at any time made with respect thereto.

    

    6.6     
      Expenses.
      Each party will party will bear their own respective costs and expenses in
      connection with the preparation of this Agreement and consummation of the
      transaction contemplated herein.

     

    6.7     
      No
      Finder's and Broker's Fees.
      The parties hereto have not retained the services of any person in connection
      herewith and the parties agree to mutually indemnity and hold each other
      harmless from any and all loss, claims, costs and expenses (including attorney's
      fees) occasioned to the other by reason of the claim of any person to
      compensation arising from the consummation of the transactions provided for
      herein. 

    

    6.8     
      Attorney's
      Fees.
      In the event of litigation for enforcement of the terms of this Agreement or
      to
      enforce any remedy hereunder, the prevailing party shall be entitled to recover
      from the other party any and all costs and expenses, including reasonable
      attorney's fees, as may be incurred.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

    6.9     
      Binding
      Effect. This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective personal representatives, successors and
      assigns.

     

    6.10    
      Headings.
      The section headings contained in this Agreement are inserted for convenience
      only and shall not affect in any way the meaning or interpretation of this
      Agreement.

    

    6.11     Execution
      by Facsimile.
      Facsimile execution of this Agreement by any party is authorized and shall
      be
      binding upon all parties.

     

    6.12     Counterparts.
      This Agreement may be executed in any number of counterparts, each of which
      shall be considered an original hereof.

    

    IN
      WITNESS WHEREOF,
      this Agreement has been executed on the date first above written.

     

     

    
      	 	AMERICHIP INTERNATIONAL, INC.
	 	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	By  	 /s/ Marc Walther
	 	 	
              

            
	 	 	 	Its  	President
	 	 	 	 	
              

            
	 	 	 	 	 
	 	 	 	 	 
	 	INVESTORS
	 	 	 	 	 
	 	 	 	 	 
	 	 /s/ Marc Walther
	 	
              

            
	 	
              Marc
                Walther

            
	 	 
	 	 
	 	 /s/ Edward Rutkowski
	 	
              

            
	 	
              Edward
                Rutkowski

            

    

    
 

    11

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