This Settlement Agreement of Debt to Stock conversion (the “Agreement”) is made and entered effective as of
the ,15 day of December 2006, by and between , Ecoland International, a Nevada corporation (“Maker”) with
corporate office at 4909 West Joshua Boulevard, Suite 1059Chandler, Arizona and Stephen Treanor., an
Individual (“Payee”) with corporate offices at 6 Carriffvale, Dublin Road, Newry Co, Down, N lreland..
C. On December 15, 2006 Ecoland International) signed a Promissory Note with promises to pay
Stephen Treanor. in the amount of ($60,000.00) with interest of 8% until the due date. The note was to be paid
in full on or before December 15, 2007. Total due at this time would be ($72,000,00).
D. December 15, 2007 having past this note is now in Default.
NOW, THEREFORE, in consideration of the foregoing recitals, and the mutual covenants, obligations, and
mutual general release contained herein, the Parties hereby agree as follows:
1. The Parties agree and acknowledge that the foregoing Recitals are true and
2. Liability. The Parties acknowledge that by entering into this Agreement, none
of the Parties are admitting to liability for any claim, including without limitation, those claims that
have been or could have been asserted.
3. Obligations of the Parties and Terms of Settlement. The Parties
agreement that Stephen Treanor an Indivual does hold receivable notes for sixty Thousand
dollars from Ecoland International a Nevada Corporation and Ecoland International does agree
to convert $36,000.00 dollars of said notes Common shares of Ecoland International’s company
stock at $.006 per Share
4. Additional Notes. It is understood by both parties that the additional
notes totaling $36,000,00 plus accrued interest of 8% until paid in full shall remain in place and
continue to be secured by the notes that are now in