SEC Contract Filing

Filing Date: 2018-04-17

Document Content:
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<TYPE>EX-10.18
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<FILENAME>ex10-18.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INTERNATIONAL
DISTRIBUTOR AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 32.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
International Distributor Agreement (hereinafter referred to as this &ldquo;Agreement&rdquo;) is entered into and effective as
of the _11th day of _ April, _ 2017_ (hereinafter referred to as the &ldquo;Effective Date&rdquo;) by and between Teledyne CARIS,
Inc., having its principal place of business located at 115 Waggoners Lane, Fredericton New Brunswick E3B 2L4, Canada (hereinafter
referred to as &ldquo;Manufacturer&rdquo;), and e-Marine Co., Ltd. located at #711, Daemyung Valeon, 127, Beobwon-ro, Songpa-gu,
Seoul, 05836, Republic of Korea (hereinafter referred to as &ldquo;Distributor&rdquo;). Manufacturer and Distributor are sometimes
referred to herein individually as a &ldquo;Party&rdquo; and jointly as the &ldquo;Parties&rdquo;.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 32.95pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
consideration of the representations, covenants, and agreements set forth herein, the Parties, intend ing to be legally bound,
hereby agree as follows.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.
<U>Term of Agreement</U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1
This Agreement is effective as of the Effective Date specified above and, unless terminated earlier pursuant to the termination
provisions specified herein, shall expire two (2) years after the Effective Date (hereinafter referred to as the&ldquo;Term&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.<U>
Appointment and Acceptance</U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1
Manufacturer hereby appoints Distributor as its nonexclusive distributor authorised to solicit and accept orders for the specific
products and/or services of Manufacturer set forth in <U>Schedule A. Scope of Services,</U> attached hereto and incorporated by
reference (hereinafter referred to as &ldquo;Products&rdquo;), from any prospective third party customer (hereinafter referred
to as &ldquo;Customer&rdquo;) located in the geographical territory comprised of the country of the Republic of Korea (hereinafter
referred to as the &ldquo;Territory&rdquo;), subject to the restrictions set forth in the Export Controls Section of this Agreement
and <U>Schedule A, Scope of Services,</U> as applicable.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2
Distributor hereby agrees that it shall not actively seek Customers or solicit or accept orders for Products in any geographical
territory other than the authorised Territory as defined above, or in violation of the Export Controls Section of this Agreement
and <U>Schedule A, Scope of Services, </U>as applicable. Manufacturer has the right, from time to time, at its sole discretion,
to change the scope of the Territory upon providing thirty (30) days prior written notice to Distributor. Distributorhereby acknowledges
and agrees that it neither has, nor shall it acquire, any vested or proprietary right or interest with respect to the Territory
or Customers in the Territory.</FONT></P>

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