Fuel Doctor Holdings, Inc. entered into an agency agreement with IMPEX Holding Co. Ltd. (Agent) pursuant to which the Agent will have the exclusive right and license to sell, market and distribute the company's fuel saving component which reduces the utilization of fuel known as Fuel Doctor to potential clients in Italy, France, Spain, Greece and Poland . The exclusivity of the Agreement is subject to the Agent meeting certain minimum purchase orders requirements during the Term of the Agreement. Agreement shall have an initial term commencing on the Effective Date and ending on December 31, 2017 unless terminated (i) by either party upon a material breach of the Agreement (ii) By the Company upon a change of ownership of the Agent or (iii) by mutual written agreement of the parties. The Agent shall have the option to extend the term for an additional five-year term upon delivery of written notice to Company no earlier than 180 days or later than 90 days prior to the expiration of the Term and the option shall be based on satisfying, among other things.