License and Services Agreement between Arthur D. Little, Inc. and Epyx Corporation (April 4, 2000)

Contract Categories: Intellectual Property › License Agreements
Summary

Arthur D. Little, Inc. (ADL) and Epyx Corporation entered into an agreement on April 4, 2000, allowing Epyx to use certain premises at ADL's Acorn Park location in Cambridge, MA. Epyx pays a monthly fee based on its staff count for the use of the space and related services. The agreement runs until December 31, 2000, with possible six-month extensions by mutual consent. Either party can terminate the agreement with six months' notice, and special fees apply if Epyx stays beyond the agreed term.

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EX-10.1(A) 2 0002.txt SCHEDULE TO EXHIBIT 10.1 Exhibit 10.1(a) Schedule 3.3 ------------- None Schedule 3.5 ------------ Joint Development Agreement dated September 24, 1999 between Plug Power, LLC and Epyx Joint Development Agreement dated January 12, 2000 between Cellex Power Products, Inc. and Epyx Purchase Order from Plug Power to Epyx dated November 10, 1999 for 10kW Multi- fuel Processor with Supporting Data and Service Joint Venture Agreement dated December 18, 1998 between H Power Corp. and Arthur D. Little, Inc. DOE Contract No. DE-FC02-99EE50580 dated July 21, 1999 issued to Arthur D. Little, Inc., titled Development of Fuel Processor, Durability Demonstration and l0kW Subcontract Agreement dated November 21, 1997 between Plug Power, LLC and Arthur D. Little, Inc. under DOE Contract No. DE-FC02-97EE50472 Subcontract Agreement dated January 17, 2000 between Giner, Inc. and Epyx Purchase Order for Transient Reactor dated February 2000 from Epyx to ZTON- Altamira Corporation Other Non-Material Open Purchase Orders Excluded Contracts: "Design of a 50 kW Stationary PEMFC System" "Design of next generation of PEMFC stacks with clearly superior hydrogen utilization" Schedule 3.6 ------------ None Schedule 3.11 ------------- [Balance Sheet] -------------------------------------------------- EPYX Balance Sheet as of December 31, 1999 -------------------------------------------------- Balances -------- Assets: Current Assets: Cash and Cash Equivalents Accounts Receivable $ 247,239.4 Unbilled Services 156,972.9 Other Current Assets (3,298.7) ------------- Total Current Assets 400,913.6 ------------- Property and Equipment Land Bldgs. & Leasehold Improvements 339.1 Equip., Furniture, & Fixtures 516,296.6 ------------- Property and Equipment 516,635.7 Accumulated Depreciation (140,068.2) ------------- Net Property and Equipment 376,567.5 ------------- Total Assets $ 777,481.0 ============= Liabilities and Stockholders' Equity: Current Liabilities: Accounts Payable $ 1,878.6 Accrued Compensation 31,370.1 Other Accrued Expenses (2,354.5) ------------- Total Current Liabilities 30,894.2 ------------- Intercompany Receivable/Payable 245,913.6 Total Liabilities Stockholders' Equity: Retained Earnings 500,673.3 ------------- Total Liabilities and Stockholders' Equity $ 777,481.0 ============= Schedule 3.15 ------------- MDT Retirement Plan ESOP -- Hired prior to 1-1-99 Investment Plan ADL Medical Plan -- Self funded Harvard Pilgrim HMO -- Insured Tufts HMO -- Insured ADL Dental Plan -- Self funded ADL Long Term Disability Plan -- Self funded Basic Life Insurance -- Insured Portable Optional Term Life Insurance -- Insured Dependent Life Insurance -- Insured Health Care Spending Account -- Self funded Dependent Care Spending Account -- Self funded Pre-tax Deduction Plan -- Self funded Business Travel Accident Insurance -- Insured Excess Contribution Plan Stock Incentive Plan Stock-Based Deferred Incentive Compensation Plan New ADL Stock Option Plan Senior Staff Stock Purchase Plan All of the above plans are maintained and administered by ADL and not by Epyx Schedule 3.16(a) - ---------------- License and Services Agreement between Epyx Corporation and Arthur D. Little, Inc. EXHIBIT 10.12 LICENSE AND SERVICES AGREEMENT BY AND BETWEEN ARTHUR D. LITTLE, INC. AND EPYX CORPORATION THIS LICENSE AND SERVICES AGREEMENT is made as of April 4, 2000, by and between Arthur D. Little, Inc., a Massachusetts corporation ("ADL"), and Epyx Corporation, a Delaware corporation ("Epyx"). 1. GRANT OF LICENSE. ADL hereby grants to Epyx a license to occupy and use, upon the terms and conditions set forth herein, the premises set forth on Exhibit A to this Agreement (the "Licensed Premises"), located in Buildings 15, 32 and 46 (the "Buildings") located in ADL's premises at Acorn Park, Cambridge, MA ("Acorn Park"). The Licensed Premises presently consists of approximately 14,554 rentable square feet but may be increased at the mutual consent of both parties during the Term. Epyx acknowledges that the Licensed Premises occupy only a portion of the Building and that ADL occupies and uses the remaining portions of the Building for its own office, laboratory, research and other purposes. Accordingly, Epyx agrees that it will use the Licensed Premises and the other areas of the Building and Acorn Park to which Epyx has access pursuant to this Agreement, in such a manner as to minimize any interference with the activities of ADL and to recognize and respect the business security and confidentiality needs of ADL. 2. TERM AND EXTENSIONS. 2.1 Term. The term of this Agreement shall commence on April 4, 2000, and shall, if not previously terminated in accordance with the terms hereof, terminate on December 31, 2000 (the "Initial Term"). Upon mutual agreement between Epyx and ADL, this Agreement may be extended for one or more six (6) month periods following the expiration of the Initial Term (each, an "Extension Period") at rates to be negotiated between the parties. If Epyx desires to extend this Agreement, Epyx shall provide written notice to ADL requesting such extension at least three (3) months prior to the expiration of the Initial Term or any Extension Period, as the case may be. If the term of this Agreement shall be extended on any such occasion, all of the terms and conditions of this Agreement not otherwise modified by a written agreement between the parties shall remain in full force and effect during each Extension Period. The Initial Term, together with any Extension Periods, is referred to herein as the "Term." 2.2 Early Termination. Either party may terminate this Agreement at any time with or without cause by giving the other party six (6) months prior written notice, provided that ADL may not terminate this Agreement without cause prior to the expiration of the Initial Term. In addition, this Agreement and Epyx's rights hereunder may be earlier terminated at ADL's option upon the occurrence of any of the events specified in Sections 18 or 19 below, and Epyx shall vacate the Licensed Premises immediately following any such termination. 2.3 Holdover. If, at the end of the Term (or upon any termination of this Agreement in accordance with the provisions hereof), Epyx fails to vacate all or any portion of the Licensed Premises, Epyx's occupancy shall be deemed to be a tenancy from month to month subject to all the terms and conditions thereof and hereof which may be applicable except that the Fees (as defined below) shall be and Epyx shall pay an amount equal to 300% of the amount specified as the last Fee during the Term for each month of occupancy, and ADL's charging of such amount shall in no event constitute a waiver of any other right ADL may have hereunder or at law or in equity. The parties recognize that the intent of this Agreement is to be a short-term obligation and that any holdover by Epyx will cause damages to ADL that will be difficult to calculate and accordingly the parties have agreed on the escalations of holdover fees herein set forth as the best mechanism for insuring Epyx's compliance. 3. LICENSE AND SERVICES FEE. Epyx agrees to pay to ADL, without offset or reduction, a fee (the "Fee") covering the combined license and services provided for herein during the Term. The rate of such Fee shall equal Two Thousand Four Hundred Sixty Dollars ($2,460) per average number of EPYX staff members per month. The average number of EPYX staff members shall be determined at the end of each month by adding the actual number of EPYX staff members on the first day of the month to the actual number of EPYX staff members on the last day of the month, and then dividing the sum by two. Payment for each month shall be made in advance on the first day of each month during the Term and shall be based on the average number of EPYX staff members from the previous month. Epyx shall pay the Fee on a pro-rata basis for any partial calendar month during the Term or any extension thereof. All payments of Fees are to be made at ADL's address set forth herein or at such other place as ADL shall from time to time designate in writing. The Fee shall be increased or decreased each month to reflect the actual average number of staff members per month from time to time. 4. PERMITTED USE. The Licensed Premises are to be used solely in connection with Epyx's operations relating to the development of reformer and 2 fuel cell technology and other uses that are incidental or customarily accessory thereto, such as office, administrative, and storage uses, in each case to the extent permitted by applicable law and consistent with current use, and such other uses as may be consented to by ADL in advance (which consent may be withheld by ADL in its sole and absolute discretion). Epyx agrees to conduct its business in a professional and businesslike manner and in accordance with best safety and operating practices. 5. PREMISES. 5.1 Condition of the Licensed Premises. Epyx accepts the Licensed Premises in their existing condition on the date of commencement of the Term, and acknowledges that the Licensed Premises are in good order and condition and sufficient for the uses intended by Epyx. Epyx agrees that it has had full and adequate opportunity to inspect the Licensed Premises and has done so to its satisfaction. ADL has not made nor has Epyx relied on any representations or warranties, express or implied, as to the condition of the Licensed Premises or their suitability for Epyx's use. 5.2 Common Areas. (a) The Licensed Premises are licensed together with the use for their intended purposes, in common with ADL and all others, including any other tenants and occupants of Acorn Park lawfully entitled thereto, of (i) the common facilities included in the Building between the Licensed Premises and the exterior of the Building; (ii) the parking facilities located in Acorn Park; (iii) the pipes, ducts, conduits, wires and appurtenant equipment serving the Licensed Premises; (iv) the common women's room and men's room in closest proximity to the Licensed Premises and (v) the central reception area in Building 25 of Acorn Park (collectively, the aforementioned areas shall hereinafter be referred to as the "Common Areas"). Such rights in the Common Areas shall always be subject to the right of ADL to designate and change from time to time areas and facilities so to be used and any rules and regulations established by ADL with respect to Acorn Park. Epyx's staff members whose principal office is located on the Licensed Premises also shall be entitled to use ADL's cafeteria facilities. (b) ADL's shipping and receiving facilities shall not constitute part of the Licensed Premises or the Common Areas. As and when shipments for Epyx are presented to ADL, ADL shall promptly notify Epyx, and Epyx shall promptly make available an authorized agent or employee to accept and receive such shipments, and thereafter ADL and Epyx shall cooperate 3 to make arrangements for delivery of such accepted shipments to the Licensed Premises. 5.3 Access and Parking. ADL shall provide reasonable access to the Licensed Premises 24 hours a day seven days a week and shall permit Epyx's staff members and guests to use the roads, sidewalks and parking areas located on ADL's property adjacent to the Licensed Premises. Access into the Building must be in accordance with ADL's security system and policies and procedures. ADL's government security form must be signed by Epyx and all employees who will be occupying the Licensed Premises. All visitors must sign in at the central reception area in Building 25 and be escorted by an Epyx employee at all times. 6. REPAIRS AND MAINTENANCE; DESTRUCTION BY CASUALTY 6.1 ADL Responsibilities. Subject to Sections 6.3 and 18 hereof, during the Term, ADL shall, at its own expense, maintain all structural elements and building systems of the Building (including, without limitation, the foundations and appurtenances thereto, the room, building exterior, framing, and floor slabs, all fixtures and equipment, all pipes, ducts, wiring, and lighting, and all plumbing and utility lines serving the Building, whether located within or outside the Building) in accordance with ADL's current practices. In no event shall ADL be obligated, pursuant to this Agreement, to make any capital or structural repairs or alterations to the Licensed Premises, the Building, or Acorn Park. 6.2 Epyx Responsibilities. During the Term, Epyx shall, at its own expense, maintain the Licensed Premises in good and safe order, condition, and repair, reasonable wear and tear excepted. Without limitation, Epyx shall maintain and use the Licensed Premises in accordance with all applicable laws, including those adopted after the commencement of this Agreement and those related to fire safety and environmental requirements, and all directions, rules and regulations of the proper officers of governmental agencies having jurisdiction over the Licensed Premises, the Building or Acorn Park. 6.3 Destruction by Casualty. If the Licensed Premises are damaged by fire or other casualty, and such damage renders the Licensed Premises substantially untenantable in whole or in part, then: (i) a fair and just part of the Fees shall abate until the damage is repaired to the extent necessary to render the Licensed Premises suitable for the conduct of Epyx's business; and (ii) ADL or Epyx may elect to terminate this Agreement upon thirty (30) days' prior written notice to the other, provided that Epyx may not terminate this Agreement under this Section if ADL has notified 4 Epyx of its intention to repair or restore the Licensed Premises in which event ADL shall have thirty (30) days measured from the date of notice to Epyx to commence repair or restoration to render the Licensed Premises tenantable. In the event of any such untenantability, ADL shall have no obligation or legal liability for its failure to provide alternate space, facilities or services to Epyx. 7. ALTERATIONS AND IMPROVEMENTS. Epyx shall not make any structural or nonstructural alterations, additions or improvements to the Licensed Premises without the prior written consent of ADL, which consent may be withheld by ADL in its sole and absolute discretion. 8. SERVICES, FACILITIES AND EQUIPMENT. Subject to Epyx's compliance with the obligations contained in this Agreement, ADL has also agreed to make available to Epyx certain services, and to authorize Epyx to use certain areas and equipment in or about the Licensed Premises jointly with ADL and others who may be authorized by ADL from time to time, during the term of this Agreement, as set forth in this Section. Epyx should contact Tim White, Director of Facilities, with respect to issues or questions regarding such services and he will direct and coordinate any other assistance which may be required. 8.1 Telephone System. ADL and Epyx acknowledge and agree that a common telephone system serves both the Licensed Premises and ADL's other facilities at Acorn Park. Epyx acknowledges that it must pay the cost of all telephone charges associated with Epyx's use of such telephone system (including the cost of local-calling and long-distance calling services) and that such fees are not included in this Agreement. ADL and Epyx hereby agree that Epyx shall be responsible for maintenance, repair and replacement of the telephone and facsimile sets owned by Epyx and connected to such system, and that ADL shall be responsible for all routine maintenance for such common telephone system serving the Licensed Premises. Epyx hereby agrees that it shall obtain ADL's prior written approval with respect to the installation or attachment to ADL's telephone switch, system or cables. Epyx agrees to pay for any additional system lines or equipment installed on or for its behalf after the date of this Agreement. 8.2 Security, Janitorial and Custodial Services. ADL shall provide routine security, janitorial, custodial and maintenance services to the Licensed Premises to the same general extent that ADL provides such services to the rest of Acorn Park. Such services shall not include receiving or shipping services. Epyx shall keep the Licensed Premises in a clean, orderly and safe condition. Epyx shall be responsible for removing 5 at its own expense and on a regular basis all disposed items other than normal office rubbish. Epyx shall not cause, permit or suffer any overloading of the floors in the Licensed Premises. 8.3 Mail. ADL shall deliver to the Licensed Premises, not less than once per business day, mail for Epyx received in ADL's central mail facility at Acorn Park. 8.4 Utilities. ADL shall provide utilities for the Licensed Premises, including heat, air conditioning, water/sewer and electricity during the same hours they are provided to the other office facilities at Acorn Park, subject to the reasonable availability of such utilities to ADL. ADL's obligations hereunder shall not exceed the capacities of existing connection and distribution equipment and infrastructure to safely carry or conduct said utilities. Epyx shall reimburse ADL for the cost (based upon ADL's actual third-party costs of such utilities) of (i) providing any utilities for the Licensed Premises beyond standard operating hours for Acorn Park (including any utility costs incurred as a result of such request which do not relate directly to the Licensed Premises but which result from providing the requested utilities to the Licensed Premises) and (ii) any such approved excess utility usage. 8.5 Fire and Safety. Epyx shall notify ADL immediately of any fire on the Licensed Premises. At no additional charge during the Term, ADL shall provide the services of its emergency response personnel in connection with any fire emergency reported by Epyx to the same general extent and in the same manner that response under similar circumstances would be provided to Acorn Park. Epyx shall be responsible for maintenance of all fire extinguishers and equipment within the Licensed Premises. ADL shall not under any circumstances provide emergency services in connection with spills of chemical or other hazardous wastes which emergency services shall be provided promptly by Epyx in accordance with all applicable Federal, state and local laws and regulations, and Epyx shall provide notice of any such events to ADL's emergency coordinator immediately. 8.6 Additional Services. In addition to the services described above, ADL shall provide the following services to the extent requested by Epyx: (a) ADL shall provide purchasing services to Epyx to the same general extent that services are provided to the rest of the operations at Acorn Park. Epyx agrees to pay ADL for all purchases made by ADL on 6 Epyx's behalf within ten (10) days following presentation of an invoice by ADL to Epyx for such goods. (b) Epyx shall continue to have access to ADL's computer network and ADL's ISD department shall provide support administration for the network. (c) Epyx shall continue to have access to the resources of ADL's Knowledge Resource Information Center. (d) Epyx and its employees whose principal offices are located on the Licensed Premises shall be entitled to use the services of the ADL Travel Department to the same general extent and in the same manner that such services are provided to ADL's other business operations at Acorn Park. (e) ADL shall provide accounting, tax and related financial and treasury services to Epyx as required by Epyx's business. Such services, shall include assisting Epyx in (i) keeping its books and records; (ii) preparing its financial statements; and (iii) preparing and filing its federal and state tax returns. (f) ADL shall provide contracting and related legal services to Epyx as required by Epyx's business. Epyx shall be billed for any out-of-pocket expenses incurred by ADL in the performance of such services. Invoices for such out-of-pocket expenses shall be payable within thirty days after issuance. 9. HAZARDOUS SUBSTANCES. Epyx shall not bring or create or maintain on the Licensed Premises any hazardous materials or wastes, chemicals or other substances which are subject to regulation by any governmental authority. Epyx shall indemnify ADL for any costs or liabilities incurred by ADL as a result of any breach by Epyx of the foregoing obligation. 10. RULES AND REGULATIONS. 10.1 General. Epyx shall, at its own cost and expense, comply with all applicable laws, ordinances, rules and regulations including those adopted after the commencement of this Agreement of any duly constituted governmental authority relating to the use or occupancy of the Licensed Premises and the activities conducted thereon, Epyx shall obey all of ADL's rules and regulations currently existing or hereafter promulgated 7 from time to time by ADL governing or pertaining to the Building, Acorn Park or their respective tenants and occupants. Epyx shall be responsible for paying in a prompt and appropriate manner all fines, penalties, damages, costs, and fees that may arise out of or be imposed on Epyx or ADL because of Epyx's failure to comply with the provisions of this Section or for contesting any such matters. 10.2 Other Conditions. (a) Epyx agrees not to harm the Licensed Premises or any other part of Acorn Park, or commit or permit waste, or create any nuisance or disturbance, or do any act tending to injure the activities or reputation of Acorn Park or ADL. Epyx shall not use or suffer or permit the use by any person of the Licensed Premises for any purpose other than the Permitted Use or in any manner which violates any of Epyx's governmental authorizations, which is contrary to any applicable law, ordinance, rule or regulation, which could cause injury or damage to any person or property, or which could adversely affect any insurance coverage applicable to the Licensed Premises or the activities conducted on the Licensed Premises. (b) Epyx shall load, unload and transport its supplies, materials and equipment at such times as are reasonably designated by ADL, and shall not obstruct or store any materials or items in the corridors, sidewalks, stairways, elevators, or any other area about or within the Building (except that Epyx may store materials and items in the Licensed Premises other than the Common Areas) or Acorn Park. 11. INDEMNIFICATION. Epyx shall indemnify, hold harmless and defend ADL and its employees, shareholders, directors, officers and affiliates from and against any and all costs, penalties, damages, claims, suits and liabilities (including reasonable attorney's fees) based on or arising out of (i) any breach or default by Epyx of its agreements under this Agreement; (ii) any act or omission of Epyx, its contractors, subcontractors, members, agents, affiliates, consultants, employees or invitees, or the failure of Epyx or such persons to comply with any applicable governmental or ADL laws, rules or regulations including those adopted after the commencement date of this Agreement; (iii) any accident, injury or damage to any person or property occurring in the Licensed Premises or outside of the Licensed Premises but within Acorn Park, where such accident, injury or damage results, or is caused by any act, omission, willful misconduct or 8 negligence of Epyx, its contractors, members, agents, affiliates, consultants, employees or invitees, or anyone claiming by, through or under Epyx (but excluding any loss, liability, expense or damage to the extent caused by the gross negligence or willful misconduct of ADL, its agents, contractors, subcontractors, members, agents, affiliates, consulting, employees or invitees); or (iv) Epyx's use or occupancy of the Licensed Premises (including those arising out of any damage or destruction of the Licensed Premises or ADL's property, any contamination of the Licensed Premises or ADL's property by hazardous substances, or Epyx's failure to remove or dispose of all of its property upon expiration or termination of the Term), except to the extent caused by the gross negligence or willful misconduct of ADL or its agents, servants or employees. 12. INSURANCE. 12.1 Insurance Coverage. Epyx shall carry the following insurance throughout the term of this agreement. a. Commercial general liability insurance in an amount not less than $2,000,000. Such insurance shall be written on an occurrence basis and shall cover bodily or personal injury or death of persons or damage to property on or about the Licensed Premises, including: Contractual Liability; and Fire Damage Legal Liability covering any liabilities assumed under this contract. b. Workers Compensation insurance as required by the laws of the Commonwealth of Massachusetts, and Employers Liability Insurance including occupational disease in an amount not less than $2,000,000. c. All-risk Property Insurance covering the full replacement value of all Epyx's furniture, trade fixtures and other personal property located on the Licensed Premises, against loss or damage or other insurable hazard. 12.2 Compliance. Epyx shall not violate or permit violation of any of the conditions or provisions contained in any of the insurance policies related to the Licensed Premises or ADL's property adjacent to the Licensed Premises. Epyx shall perform and satisfy the requirements of the respective insurance companies so that at all times insurance companies of good standing will be willing to write or continue such policies. Nothing herein shall prevent ADL from carrying additional insurance. 9 12.3 Evidence of Insurance. Prior to commencement of the term of this Agreement, Epyx shall give ADL certificates of insurance policies required hereunder. Each such policy shall require the insurer to give ADL 30 days written notice of any change in such policies, and shall name ADL and Master Lessor as additional insureds. The property insurance policy shall provide that proceeds are first payable to ADL. 12.4 Subrogation. ADL and Epyx hereby agree to waive all rights of subrogation against the other party to the extent that any laws or damage to the Licensed Premises is covered by any property insurance policy, including any deductibles thereunder. 13. EPYX'S FAILURE TO PERFORM. 13.1 Substituted Performance. If Epyx shall at any time fail to make any payment or otherwise to perform any of its obligations as required under this Agreement, ADL, after 10 days notice to Epyx, may (but shall be under no obligation to) make any payment or perform or cause to be performed any act to be performed by Epyx under the terms of this Agreement. ADL may enter the Licensed Premises for any such purpose and may take all such action thereon as may be necessary therefor. 13.2 Reimbursement of Expenditures. All sums paid by ADL pursuant to Section 13.1 hereof, and all costs and expenses incurred by ADL in connection with the performance of any such act, together with interest thereon at the rate of 18% per annum (or such lesser rate as may at the time be the maximum rate permitted by law) from the respective dates of ADL's making of such payment or incurring of each such cost and expense, shall be paid by Epyx to ADL on demand as if the same were additional Fees hereunder (and non-payment of which shall have the consequences of non-payment of Fees). 13.3 Interest on Overdue Fees. All overdue Fees shall bear interest at the rate of 18% per annum (or such lesser rate as may at the time be the maximum rate permitted by law) from the respective payment due dates. Such interest shall be paid by Epyx to ADL on demand as if the same were additional Fees hereunder (and non-payment of which shall have the consequences of non-payment of Fees). 14. MECHANICS' LIENS. Notice is hereby given that ADL shall not be liable for any labor or materials furnished or to be furnished to Epyx, and that no mechanics' or materialmen's liens or other liens for any such labor or materials shall attach to or affect the reversionary or other estate or interest of ADL in and 10 to the Licensed Premises, the Building or Acorn Park. Epyx agrees to indemnify and hold harmless ADL against any and all costs it may suffer on account of the same. 15. ADL'S ACCESS. ADL may at any time enter the Licensed Premises for the purposes of responding to an emergency, repairing the Licensed Premises, inspecting the Licensed Premises or the activities conducted thereon, or for purposes of showing the Licensed Premises to prospective purchasers, lessees, mortgagors or other parties involved or potentially involved in any real estate related transaction relating to the Licensed Premises or Acorn Park in general. ADL may take any action it deems reasonably necessary in order to safeguard the Licensed Premises or ADL's or any other property or the health and safety of any persons. 16. EXPIRATION OF TERM. Epyx, at the expiration of the Term or at any prior termination as herein provided, shall peaceably yield up the Licensed Premises in the same condition and repair as the same were in at the commencement of the Term, reasonable wear and use excepted. Prior to expiration of the Term or within 10 days after any earlier termination of this Agreement (whichever first occurs) Epyx shall remove from the Licensed Premises any personal property and equipment and any items for disposal. Any property, equipment or materials of Epyx not removed from the Licensed Premises as required herein shall, at ADL's sole option (a) become the property of ADL or (b) be deemed abandoned and removed and disposed of by ADL as ADL shall determine, and ADL may charge the cost of such removal and disposal and any repairs or replacements to the Licensed Premises necessitated thereby and any liabilities resulting therefrom to Epyx; provided that Epyx shall retain title to any hazardous substances left on the Licensed Premises. 17. ASSIGNMENT AND SUBLETTING. Epyx shall not under any circumstances be entitled or permitted to transfer, sublet, assign, hypothecate, mortgage, pledge, encumber or otherwise alienate this Agreement or Epyx's interest in and to all or any part of the Licensed Premises, or grant any person any license or permission to use the Licensed Premises. Any attempted transfer, subletting, assignment, hypothecation, encumbrance, license, or other alienation of this Agreement by Epyx shall be void and shall confer no rights on third parties, and shall entitle ADL at its option to terminate this Agreement. 18. EMINENT DOMAIN. 18.1 Total Taking. If the entire Premises shall be taken for public purposes, then this Agreement shall terminate as of the date Epyx is required by law to vacate the premises. 11 18.2 Partial Taking. If a substantial portion of the Licensed Premises shall be taken for public purposes, ADL shall be entitled at its option to terminate this Agreement. If such portion of the Licensed Premises shall be taken as to render the Licensed Premises unsuitable after repair and restoration for the continuance of Epyx's business in substantially the same manner as it was being conducted immediately prior to such taking, then Epyx or ADL upon 30 days' prior written notice shall have the right to terminate this Agreement as of the date Epyx is required by law to vacate such portion of the Licensed Premises. 18.3 Restoration. Subsequent to any taking of a portion of the Licensed Premises, if this Agreement is not terminated by ADL or Epyx in accordance with Section 18.2 hereof, ADL may in its sole and absolute discretion promptly commence restoration of the Licensed Premises to a complete architectural unit as similar as possible to the condition the Licensed Premises were in immediately prior to said taking. During the period of such restoration, the Fees hereunder shall be abated in its entirety, except that to the extent Epyx is able to use the Licensed Premises, the Fees shall be adjusted to reflect such use. 18.4 Proceeds. In the event of any such taking, the condemnation award and all other proceeds thereof shall be payable to ADL, and Epyx shall have absolutely no right or interest in any award. Epyx hereby irrevocably appoints ADL as its attorney in fact for purposes of collecting any such condemnation award or proceeds and of dealing with all governmental authorities with respect hereto. This power of attorney is coupled with an interest and hence is irrevocable. 19. DEFAULT AND TERMINATION OF AGREEMENT. If (a) Epyx fails to pay the Fee within five (5) days after it becomes due; or (b) Epyx fails to perform or comply with any of the other covenants, conditions or obligations of Epyx under this Agreement within ten (10) days after written notice of such default; (c) Epyx is adjudicated a bankrupt, or there is appointed a permanent receiver in insolvency or permanent trustee in bankruptcy of Epyx and the appointment is not vacated within thirty (30) days, or Epyx makes a general assignment for the benefit of creditors or files a voluntary petition for reorganization under applicable bankruptcy laws; or (d) Epyx shall have abandoned the Licensed Premises, then and in each case ADL may, at ADL's option, declare this Agreement terminated and enter the Licensed Premises or any part thereof, either with or without process of law, and expel Epyx or any person or persons occupying the Licensed Premises. 12 20. ADDITIONAL REMEDIES ON DEFAULT. Notwithstanding any termination pursuant to Section 19 above or any entry or reentry by ADL, Epyx agrees to pay, on the days originally fixed herein for the payment thereof, amounts equal to the several installments of Fees and any other amounts due hereunder as they would become due under the terms of this Agreement if it had not been terminated or if ADL had not reentered as aforesaid, and whether the Licensed Premises be re-licensed or remain vacant in whole or in part. In the event the Licensed Premises are re-licensed in whole or in part by ADL, Epyx shall be entitled to a credit in the net amount of Fees received by ADL in re-licensing, after deduction of reasonable expenses incurred in re-licensing the Licensed Premises and in collecting the Fees. Epyx shall also be liable to ADL for all expenses (including reasonable attorneys' fees) incurred by ADL in enforcing its rights under this Agreement in the event of a default by Epyx, and such expenses may be deducted from any credit otherwise due Epyx from ADL. 21. ESTOPPEL CERTIFICATE. Upon not less than fifteen (15) days prior written request, ADL and Epyx agree, each in favor of the other, to execute, acknowledge-and deliver a statement in writing certifying that this Agreement is unmodified and in full force and effect (or, if modified, setting forth the modifications and stating that this Agreement as modified is in full force and effect), and the dates to which the Fees hereunder and other charges have been paid, and any other information reasonably requested. Any such statement delivered pursuant to this Section 21 may be relied upon by any prospective purchaser or mortgagee. 22. SUBORDINATION. This Agreement shall be subject and subordinate to all mortgages and ground or underlying leases existing or hereafter placed upon the Licensed Premises. Epyx hereby acknowledges and agrees that the holder of any such mortgage or the lessor under any such lease shall not thereby become or be liable for the performance of any of ADL's obligations under this Agreement. Epyx agrees that at the request of ADL it will execute, acknowledge and deliver any and all instruments which ADL may require in order to effect such subordination and hereby irrevocably appoints ADL as its attorney-in-fact to execute, acknowledge and deliver all such instruments upon the failure or refusal of Epyx to do so. Epyx shall agree to any amendment (except relating to the Fees, the Term, or the description of the Licensed Premises) reasonably requested by such mortgagee or lessor. 23. CONSENTS. No express or implied consent to or waiver of or failure to insist on performance or observance of any covenant or condition of this Agreement shall be deemed to be a consent to or waiver to any succeeding breach of the same or any other covenant or condition. Except as provided herein, any party may assert its rights and remedies hereunder without any prior or additional 13 notice to the other party. The payment by Epyx and acceptance by ADL of Fees or other payment hereunder or silence by either party as to any breach shall not be construed as waiving any of such party's rights hereunder unless such waiver is in writing. No payment by Epyx or acceptance by ADL of a lesser amount than shall be due hereunder shall be deemed to be anything but payment on account, and the acceptance by ADL of a check for a lesser amount shall not prejudice ADL's right to recover the balance due or to pursue any other remedy which may be available to it. 24. CUMULATIVE RIGHTS. Any and all rights and remedies which either party may have hereunder shall be cumulative, and the exercise of any such rights or remedies shall not bar the exercise of any other right or remedy. 25. NOTICES. Any notice required or permitted to be given hereunder shall be given when in writing and delivered in person or forwarded by overnight or certified or registered mail, return receipt requested, to: ADL: Arthur D. Little, Inc. Acorn Park Cambridge, Massachusetts 02140-2390 Attn: Tim White Epyx: Epyx Corporation Acorn Park Cambridge, Massachusetts 02140-2390 Attn: Chief Operating Officer or such other address as either party may have designated in a written notice to the other. Such notices shall be deemed received on the date of personal delivery or two days following the documented date of appropriate mailing. 26. ENTIRE AGREEMENT. This instrument contains the entire and exclusive agreement between the parties with respect to the Licensed Premises and supersedes and terminates all prior or contemporaneous arrangements, understandings and agreements whether oral or written. This Agreement may not be amended or modified except by a writing executed by both parties. 27. GOVERNING LAW AND SEVERABILITY. This Agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts. In the event any provision of this Agreement shall be determined to be invalid or unenforceable under applicable law, such provision shall insofar as possible be construed or applied in such manner as will permit enforcement; otherwise this Agreement shall be construed as if such provision were not a part hereof. 14 28. BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of all successors and permitted assigns. 29. RECORDING. Epyx and ADL agree that Epyx will not record this Agreement. 30. ADL LIMITS OF LIABILITY. ADL shall not be liable to Epyx, or those claiming under Epyx, for any loss or damage to Epyx or its property in or upon the Licensed Premises or Acorn Park that may be caused by the acts or omissions of tenants or other persons occupying space in Acorn Park, or for any loss or damage resulting to Epyx or its property except for any loss or damage resulting from the gross negligence or willful misconduct of ADL, its agents, contractors and employees, provided, however, that ADL shall have no responsibility or liability for any indirect, incidental or consequential damages relating directly or indirectly to loss of business or other indirect, incidental or consequential damages, damage to computer software and related accessory equipment (including, without limitation, computer tapes, disks, other data in storage media and similar property), equipment, or unusually valuable, rare or exotic materials, works of art, and the like. In no event shall ADL ever be liable to Epyx for indirect, incidental or consequential damages. Except in the case of gross negligence or willful misconduct of ADL, ADL shall be under no responsibility or liability for failure or interruption of any of the services, repairs or replacements or for any action in connection with ADL's provision of any services or utilities to Epyx under this Agreement; and failure or omission on the part of ADL to furnish any of same shall not be construed as an eviction of Epyx, actual or constructive, nor entitle Epyx to an abatement of the Fees described herein, nor render ADL liable in damages, nor release Epyx from prompt fulfillment of any of its covenants under this Agreement. 15 IN WITNESS WHEREOF, the parties have executed this License and Services Agreement as of the date first set forth above. ARTHUR D. LITTLE, INC. By: /s/ Lorenzo C. Lamadrid ------------------------------- Name: Lorenzo C. Lamadrid Title: President & Chief Executive Officer EPYX CORPORATION By: /s/ Mark A. Brodsky ------------------------------- Name: Mark A. Brodsky Title: President 16 Exhibit A --------- Memorandum Date: March 31, 2000 To: Elliot Mark cc: Tim White From: Pat Walsh Loc: 20A/245 Ext: 5902 Subject: Space - EPYX EPYX currently occupies space in Building 15, 32, and the Pilot Plant complex. Below is a summary and cost breakdown: Monthly Yearly Building Sq. Ft. Cost Cost -------- ------- ------- ------ 15 8,261 $30,531.27 $366,375.34 32 4,015 14,838.77 178,065.25 Pilot Plant 2,278 8,419.10 101,029.29 ------ ---------- ----------- Total 14,554 $53,789.14 $645,469.89 Attached are drawings indicating the space assigned to EPYX and the Facilities Space Report. This information is as of March 31, 2000. Please let me know if you need any additional information.
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 1 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15 138 1356 1356 15 139 937 937 15 151A 140 140 01 15 151B 140 70 7930 DEPIETRO R CONS 15 153 100 100 15 153B 70 70 5409 MOSHER PD CONS 15 153C 70 70 15 153D 70 70 630 HAILES RL CONS 15 153E 70 70 15 154 440 440 15 154A 65 65 15 154B 65 65 4370 THOMPSON C CONS 15 154C 65 65 6834 POLLICA DE 15 154D 65 65 6422 CHINTAWAR PS CONS 15 154E 65 65 4265 WILLEY JM 15 154F 65 65 5307 CIOFFI CM CONS 15 154G 62 62 2996 COLE T CONS 15L 101 117 117 8314 MORRISEAU BD CONS 15L 102 121 121 4802 BOYD S CONS
NOTE 01 ##### BLDG 15 ROOM 151B ALSO SHARED WITH UNIT 0946 ########
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 2 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15L 102A 94 94 4035 SYLVESTER RM SUP 15L 103 54 54 932 BLOCK SG CONS 15L 103A 80 80 4880 ROUNDS III R CONS 15L 104 80 SWAVELY 80 15L 105 80 80 8863 DORSON MH CONS 15L 106 80 80 7490 ZHAO J CONS 15L 107 85 85 15L 107A 27 CLOSET 27 15L 108 510 510 15L 109 968 968 15L 110 238 238 15L 111 238 238 15L 112 168 MECH. ROOM 168 15L 113 193 193 15L 114 262 MECH. FOR DRY ROOM 262 15L 115 533 533 15L 117 124 124 865 CROSS III JC CONS 15L 118 117 117 152 MITCHELL WL SENC 15L 119 117 117 5675 BENTLEY JM DIR
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 3 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15L 120 130 65 8053 HAND ML SUP 65 254 MADAN S CONS 32 101 113 113 32 102 113 113 32 103 113 113 186 BARTON L CONS 32 104 174 174 32 105 114 114 32 106 113 113 32 107 114 57 513 RIZZO VG CONS 57 874 RUMSEY JW CONS 32 108 114 114 7465 POLEVAYA O CONS 32 109 114 114 32 110 114 38 8259 BOSCO T CONS 38 4494 GOODWIN M CONS 38 7519 VODUC V SUP 32 111 123 123 335 PRABHU SK CONS 32 119 115 115 6916 WOO P SENC 32 120 174 58 4461 CELONA J SUP 58 6660 HILL SA CONS 58 6446 LANDRY BP SUP 32 121 114 57 1870 KHAN AR CONS 57 4044 LIU H CONS 32 122 114 57 5956 HAGAN MR CONS 57 7374 QI FC CONS
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 4 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- 32 123 114 57 4260 BATAL JD CONS 57 6826 ZHAO J 32 124 113 57 1714 BOWERS BJ CONS 57 362 NORTHROP WF CONS 32 125 114 57 4042 JAMIL A CONS 57 4054 RIVERA A CONS 32 126 114 114 687 NOWICKI BJ CONS 32 127 173 173 32 128 114 114 32 129 114 114 32 130 113 113 32 134 164 164 5689 HAVERTY AH SUP 32 135 605 EPYX DESIGN CENTER 605 32 136A 65 65 32 136B 65 65 32 137 311 EPYX CONFERENCE 311 46 100A 1709 PILOT PLANT 1709 46 200A 297 PILOT PLANT ME22 WILSON G 297 48 100 272 SHED 5 272
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 5 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ********** TOTALS FOR GROUP 194 ********** SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 6 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: UNIT LEADER: SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ########## TOTALS FOR SECTION B924 ########## SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 7 SECTION: SECTION LEADER: UNIT NUMBER: UNIT LEADER: SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ########### GRAND TOTALS FOR COMPANY ########## SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
EPYX Space - Building 15 Total Rentable sq. ft. 8,261 Notes: # 1: 15L/101 thru 15L/107A reflects space for cubicles only (818 sq. ft.) Aisle space has been deducted. Note #2: 15/153 reflects space for offices and cubicles only (380 sq. ft.) Entrance and aisle space has been deducted. [FLOOR PLAN APPEARS HERE] as of 3/31/00 Pat Walsh EPYX Space - Building 32 Total Rentable sq. ft. = 4,015 sq. ft. [FLOOR PLAN APPEARS HERE] Notes: Red background is Credit Union and other shared space. as of 3/31/00 Pat Walsh [PILOT PLANT COMPLEX DRAWING APPEARS HERE] Schedule 3.16(b) ---------------- See attached Schedule 3.16(b) Manufacturing Laboratory Equipment
Model # Social # - --------------------------------------------------------------------------------------------- 1. Wilton Bandsaw 8201 1162687 - --------------------------------------------------------------------------------------------- 2. Bandsaw Welder ###-###-#### 86066 - --------------------------------------------------------------------------------------------- 3. Dremel Disk/Belt Sander 17311 76706 - --------------------------------------------------------------------------------------------- 4. 8 Work Benches - --------------------------------------------------------------------------------------------- 5. 3 Bench Vises - --------------------------------------------------------------------------------------------- 6. Heinrich Alligator Metal Shear 1 - --------------------------------------------------------------------------------------------- 7. 4 Tool Cabinets - --------------------------------------------------------------------------------------------- 8. 2 Parts Cabinets - --------------------------------------------------------------------------------------------- 9. Miller/Driller ###-###-#### 730371 - --------------------------------------------------------------------------------------------- 10. Drill Press - 14" Floor Model 951225 123642 - --------------------------------------------------------------------------------------------- 11. Special Refractory Lathe - --------------------------------------------------------------------------------------------- 12. High-Boy Small Tool Cabinet (craftsman) - --------------------------------------------------------------------------------------------- 13. Steel Top Arc Welding Bench - --------------------------------------------------------------------------------------------- 14. TIG Electric Welder Synchro Wave 250 903056 KH526256 - --------------------------------------------------------------------------------------------- 15. Tool Grinder & Floor Stand E-7 Wl-98 - --------------------------------------------------------------------------------------------- 16. 2200 lb. Portable Floor Stand A 0203AA05122 - --------------------------------------------------------------------------------------------- 17. Misc. Assorted Small Hand Tools - --------------------------------------------------------------------------------------------- 18. Shop Vacuum - Hiele S401I 50573109 - --------------------------------------------------------------------------------------------- 19. Misc. Machine Tool Attachments - --------------------------------------------------------------------------------------------- 20. Misc. Measuring Tools - --------------------------------------------------------------------------------------------- 21. 18x24 Steel Surface Plate - --------------------------------------------------------------------------------------------- 22. 18x24 Granite Precision Surface Plate Grade B 32032 - --------------------------------------------------------------------------------------------- 23. Wilton Disc/Belt Grinder Model Ser. 901019 4200 - --------------------------------------------------------------------------------------------- 24. Drill Sharpener V-190 V-1435A - --------------------------------------------------------------------------------------------- 25. Wire Wheel Bench Grinder 632F W-699 - --------------------------------------------------------------------------------------------- 26. Carboloy Bench Grinder 623E WO-999 - --------------------------------------------------------------------------------------------- 27. 3 Tan Arbor Press (jet) AP-3 333630 - --------------------------------------------------------------------------------------------- 28. Flexible Saaft Die Grinder Series S K970758 - --------------------------------------------------------------------------------------------- 29. Borescope in Case FOI-1 F26285 - --------------------------------------------------------------------------------------------- 30. Small Tig Welder 190 GTS a90152A188109a - --------------------------------------------------------------------------------------------- 31. Parker Tube Bender (2pc) w/attachments 420 2301s / 2236S - --------------------------------------------------------------------------------------------- 32. 6C Cart (analyzers) - --------------------------------------------------------------------------------------------- 33. 2x 12kWe Dynaload Load Cells
EPYX CUSTOM HARDWARE EPYX CONFIDENTIAL
- ------------------------------------------------------------------------------------------------- Fuel Processor Prototype Inventory - ------------------------------------------------------------------------------------------------- Model No. Unit Current PO Resp. Design Date Parts Date (aka Drawing S/N Hardware Release Received H/W No.) Status Ass'd - ------------------------------------------------------------------------------------------------- 50 kWe Ethanol Model A 1 Complete - ------------------------------------------------------------------------------------------------- 2 Complete - ------------------------------------------------------------------------------------------------- 50 kWe Gasoline Model A 8008-101 1 Retired - ------------------------------------------------------------------------------------------------- 2 Complete - ------------------------------------------------------------------------------------------------- 10 kWe Model A 8035-001 1 Complete - ------------------------------------------------------------------------------------------------- 2 Complete - ------------------------------------------------------------------------------------------------- 10 kWe Model B 8037-001 1 Complete In hand - ------------------------------------------------------------------------------------------------- 8037-001 2 Complete In hand - ------------------------------------------------------------------------------------------------- 8037-001 3 Complete In hand - ------------------------------------------------------------------------------------------------- 8037-001 4 Complete Complete - ------------------------------------------------------------------------------------------------- 68191-D1-101 5 Complete G. Block 9/27/99 12/9/99 - ------------------------------------------------------------------------------------------------- 68191-D1-1Ol 6 Complete G. Block 9/27/99 12/27/99 - ------------------------------------------------------------------------------------------------- 68191-D1-101 7 G. Block 9/27/99 due 1/11/00 - ------------------------------------------------------------------------------------------------- 68191-Dl-101 8 G. Block 9/27/99 due 1/14 - ------------------------------------------------------------------------------------------------- 68191-Dl-101 9 G. Block 9/27/99 due 1/14 - ------------------------------------------------------------------------------------------------- 68191-D1-101 10 G. Block 9/27/99 due 2/14 - ------------------------------------------------------------------------------------------------- 68191-D1-101 11 G. Block 9/27/99 due 2/14 - ------------------------------------------------------------------------------------------------- 68191-Dl-101 12 G. Block 9/27/99 due 3/14 - ------------------------------------------------------------------------------------------------- 68191-Dl-101 13 G. Block 9/27/99 due 3/14 - ------------------------------------------------------------------------------------------------- Merchant H2 FPA 5064-001 1 - ------------------------------------------------------------------------------------------------- MiniPox A 93747-00 1 - ------------------------------------------------------------------------------------------------- 2 Minipox B 1-5 - ------------------------------------------------------------------------------------------------- 190 kWth Phase III FPA 8051-001 1 - ------------------------------------------------------------------------------------------------- 8051-001 2 Parts Only - ------------------------------------------------------------------------------------------------- 15 kWth ATP SR FPA ? 1 - ------------------------------------------------------------------------------------------------- 150 kWth MPR 1 - ------------------------------------------------------------------------------------------------- 2 - -------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------- Fuel Processor Prototype Inventory - --------------------------------------------------------------------------------- Date Current Assigned Comments Cat. Location To Loaded - --------------------------------------------------------------------------------- 50 kWe Ethanol Model A Cambridge, UK CCL - --------------------------------------------------------------------------------- Trailer A Storage - --------------------------------------------------------------------------------- 50 kWe Gasoline Model A Autopsy Mat'ls Report - --------------------------------------------------------------------------------- Trailer B5 Storage - --------------------------------------------------------------------------------- 10 kWe Model A Bldg 46 EP Prgm Returned 12/2/99 - --------------------------------------------------------------------------------- Epyx Entrance Marketing - --------------------------------------------------------------------------------- 10 kWe Model B Bldg 46 BTU #1 M. Sheehan - --------------------------------------------------------------------------------- Mfg Lab PPGM M. Sheehan - --------------------------------------------------------------------------------- Mfg Lab BTU #2 Gus/Nathan Mods - --------------------------------------------------------------------------------- 12/15/99 Mfg Lab Renault - --------------------------------------------------------------------------------- 1/5/00 Mfg Lab BTU #3 - --------------------------------------------------------------------------------- Mfg Lab BTU #4 D. Swavely/DMI - ------------------------- --------------------- VW Needs supports - ------------------------- --------------------- SFAA 1A Needs supports - ------------------------- --------------------- BTU #5 D. Swavely/DMI - ------------------------- --------------------- BTU #6 D. Swavely/DMI - ------------------------- --------------------- BTU #7 D. Swavely/DMI - ------------------------- --------------------- ? D. Swavely/DMI - ------------------------- --------------------- ? D. Swavely/DMI - ------------------------- --------------------- Merchant H2 FPA Allentown, PA APCI J. Cross - --------------------------------------------------------------------------------- MiniPox A Epyx Conf Rm Minipox M. Sun - --------------------------------------------------------------------------------- Minipox B Trailer B2 None AL Gray Shells - --------------------------------------------------------------------------------- 190 kWth Phase III FPA Bldg 46 DOE PRDA D. Hottle/B. Nowicki - --------------------------------------------------------------------------------- Trailer A DOE PRDA D. Hottle/B. Nowicki - --------------------------------------------------------------------------------- 15 kWth ATP SR FPA D. Hottle/B. Nowicki - --------------------------------------------------------------------------------- 150 kWth MPR Bldg 46 Comb/Chem Rafey Khan - --------------------------------------------------------------------------------- Trailer A LANL Rafey Khan - ---------------------------------------------------------------------------------
EPYX CONFIDENTIAL
- ------------------------------------------------------------------------------ TGC Prototype Inventory - ------------------------------------------------------------------------------ Model No. (aka Unit Current Design Drawing No.) S/N Hardware Release Status - ------------------------------------------------------------------------------ DOE Phase O (50 kWe) 1-2 - ------------------------------------------------------------------------------ DOE Phase I (10 kWe) N/A 1 - ------------------------------------------------------------------------------ 10 kWe Ngas Model EP 1 - ------------------------------------------------------------------------------ DOE Phase II, 10 kWe 1 Disintegrated - ------------------------------------------------------------------------------ Merchant H2 Thermal Reactor HGTGC-001 1 - ------------------------------------------------------------------------------ Mini TGC 1 - ------------------------------------------------------------------------------ 190 kWth DOE Ph III 34788-D-100 1 - ------------------------------------------------------------------------------ 2 - ------------------------------------------------------------------------------ 10 kWe NGAS TGC Model BTU 93286-16-Dl-100 1 Complete - ------------------------------------------------------------------------------ 2 Complete - ------------------------------------------------------------------------------ 68191-D1-201 3 In Process 11/1/99 - ------------------------------------------------------------------------------ 4 On Order 11/1/99 - ------------------------------------------------------------------------------ 5 On Order 11/1/99 - ------------------------------------------------------------------------------ 6 On Order 11/1/99 - ------------------------------------------------------------------------------ 7 On Order 11/1/99 - ------------------------------------------------------------------------------ 8 On Order 11/1/99 - ------------------------------------------------------------------------------ 10kWe Liquid Fuel Model SFAA 68191-D1-100 1 Complete - ------------------------------------------------------------------------------ 2 Complete - ------------------------------------------------------------------------------ 3 On Order - ------------------------------------------------------------------------------ 4 On Order - ------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------- TGC Prototype Inventory - ---------------------------------------------------------------------------------------------------------- PO Date Parts Date H/W Current Assigned Comments Resp. Received Ass'd Location To - ---------------------------------------------------------------------------------------------------------- DOE Phase O (50 kWe) Trailer B Storage Burner, CC - ---------------------------------------------------------------------------------------------------------- DOE Phase I (10 kWe) Trailer B DOE PRDA Burner, CC, Fuel Vap - ---------------------------------------------------------------------------------------------------------- 10 kWe Ngas Model EP Bldg 46 EP Pgrm Broken - ---------------------------------------------------------------------------------------------------------- DOE Phase II, 10 kWe Mfg Lab DOE PRDA Under Autopsy Disintegrated - ---------------------------------------------------------------------------------------------------------- Merchant H2 Thermal Reactor PA APCI - ---------------------------------------------------------------------------------------------------------- Mini TGC Epyx Conf MiniPox Matt's Design - ---------------------------------------------------------------------------------------------------------- 190 kWth DOE Ph III Bldg 46 DOE PRDA - ---------------------------------------------------------------------------------------------------------- In Process DOE PRDA - ---------------------------------------------------------------------------------------------------------- 10 kWe NGAS TGC Model BTU Bldg 46 BTU #1 D. Hottle/M. Dorson - ---------------------------------------------------------------------------------------------------------- Mfg Lab BTU #2 - ---------------------------------------------------------------------------------------------------------- G. Block 12/27/99 BTU #3 BTU Design Mods/DMI - ---------------------------------------------------------------------------------------------------------- G. Block due 1/14 BTU #4 - ---------------------------------------------------------------------------------------------------------- G. Block due 1/28 BTU #5 - ---------------------------------------------------------------------------------------------------------- G. Block due 2/11 BTU #6 - ---------------------------------------------------------------------------------------------------------- G. Block due 2/25 BTU #7 - ---------------------------------------------------------------------------------------------------------- G. Block due 3/10 BTU #8 - ---------------------------------------------------------------------------------------------------------- 10kWe Liquid Fuel Model SFAA 11/23/99 Mfg Lab PPGM D. Hottle/B. Nowicki - ---------------------------------------------------------------------------------------------------------- 12/22/99 Mfg Lab VW - ---------------------------------------------------------------------------------------------------------- Gunther due 1/24 Renault - ---------------------------------------------------------------------------------------------------------- Gunther due 1/31 SFAA 1A - ----------------------------------------------------------------------------------------------------------
EPYX CONFIDENTIAL
- -------------------------------------------------------------------------------- PrOx Reactor Prototype Inventory - -------------------------------------------------------------------------------- Model No. Unit Current PO resp. Date (aka Drawing S/N Hardware Parts No.) Status Received - -------------------------------------------------------------------------------- 5-Bed Test Reactor N/A 1 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 10 kWe PrOx 1 Reactor Matt's Sketch 1 Complete - -------------------------------------------------------------------------------- PROX1B-001 2 n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 3 Complete n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 4 Complete n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 5 Complete n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 6 Complete n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 7 Complete n/a n/a - -------------------------------------------------------------------------------- PROX1B-001 8 Complete A. Jamil 12/9/99 - -------------------------------------------------------------------------------- PROX1B-001 9 In Process A. Jamil 12/9/99 - -------------------------------------------------------------------------------- 68191-D1-401 10 On Order D. Pichon due 1/14 - -------------------------------------------------------------------------------- 68191-D1-401 11 On Order D. Pichon due 1/14 - -------------------------------------------------------------------------------- 68191-D1-401 12 On Order D. Pichon due 1/28 - -------------------------------------------------------------------------------- 68191-D1-401 13 On Order D. Plchon due 2/11 - -------------------------------------------------------------------------------- 68191-D1-401 14 On Order D. Pichon due 2/25 - -------------------------------------------------------------------------------- 68191-Dl-401 15 On Order D. Pichon due 3/10 - -------------------------------------------------------------------------------- 10 kWe PrOx 2 Reactor 68197-D1-300 1 Complete - -------------------------------------------------------------------------------- 2 Complete - -------------------------------------------------------------------------------- 3 - -------------------------------------------------------------------------------- 68197-D1-301 4 Complete 11/29/99 - -------------------------------------------------------------------------------- 68197-D1-301 5 11/29/99 - -------------------------------------------------------------------------------- 68197-D1-301 6 Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-D1-301 7 Complete Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-D1-301 8 Complete Gunther 12/10199 - -------------------------------------------------------------------------------- 68197-D1-301 9 Complete Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-D1-301 10 Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-Dl-301 11 Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-D1-301 12 Gunther 12/10/99 - -------------------------------------------------------------------------------- 68197-Dl-301 13 Gunther 12/10/99 - -------------------------------------------------------------------------------- 50 kWe PrOx 1 Reactor 34788-D1-301 1 - -------------------------------------------------------------------------------- 2 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 50 kWe PrOx 2 Reactor 34788-D1-401 1 - -------------------------------------------------------------------------------- 2 - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- PrOx Reactor Prototype Inventory - -------------------------------------------------------------------------------- Date Date Current Assigned Comments H/W Cat. Location To Ass'd Loaded - ------------------------------------------------------------------------------------------------- 5-Bed Test Reactor Bldg 46 Storage - ------------------------------------------------------------------------------------------------- 10 kWe PrOx 1 Reactor Bldg 46 MPR Matt's Unit - ------------------------------------------------------------------------------------------------- n/a Mat'ls Lab Renault AJ Design, MSM 9/98 Build - ------------------------------------------------------------------------------------------------- n/a Mfg Lab PPGM AJ Design, MSM 9/98 Build - ------------------------------------------------------------------------------------------------- n/a Bldg 46 MPR AJ Design, MSM 11/98 Build - ------------------------------------------------------------------------------------------------- n/a Bldg 46 BTU #1 AJ Design, MSM 11/98 Build - ------------------------------------------------------------------------------------------------- n/a Mfg Lab BTU #2 AJ Design, SKL 6/99 Build - ------------------------------------------------------------------------------------------------- n/a 12/20/99 BTU land BTU #3 AJ Design, SKL 6/99 Build - ------------------------------------------------------------------------------------------------- 12/23/99 12/27/99 BTU land BTU #4 AJ Design, SKL 11/99 Build - ------------------------------------------------------------------------------------------------- 1/4/00 BTU land VW AJ Design, SKL 11/99 Build - ------------------------------------------------------------------------------------------------- BTU land BTU #5 Dean wil Order, DMI - ------------------------------------------------------------------------------------------------- Mfg Lab SFAA 1A w/o support - ------------------------------------------------------------------------------------------------- BTU land BTU #6 - ------------------------------------------------------------------------------------------------- D. Pollica BTU #7 - ------------------------------------------------------------------------------------------------- ? - ------------------------------------------------------------------------------------------------- ? - ------------------------------------------------------------------------------------------------- 10 kWe PrOx 2 Reactor Bldg 46 BTU #1 Alex, has T/Cs, pipe, 1L - ------------------------------------------------------------------------------------------------- Mfg Lab BTU #2 - ------------------------------------------------------------------------------------------------- Alex Cube Storage - ------------------------------------------------------------------------------------------------- n/a 12/20/99 Bldg 46 PPGM Redesign, thin wal, 1.5L - ------------------------------------------------------------------------------------------------- Alex Cube BTU #3 - ------------------------------------------------------------------------------------------------- Alex Cube BTU #4 - ------------------------------------------------------------------------------------------------- 1/10/00 Mat'ls Lab Renault 2 t/c's & side hangers - ------------------------------------------------------------------------------------------------- 1/10/00 Mat'ls Lab VW 2 t/c's & side hangers - ------------------------------------------------------------------------------------------------- Mat'ls Lab SFAA 1A - ------------------------------------------------------------------------------------------------- Alex Cube BTU #5 - ------------------------------------------------------------------------------------------------- Alex Cube BTU #6 - ------------------------------------------------------------------------------------------------- Alex Cube BTU #7 - ------------------------------------------------------------------------------------------------- ? - ------------------------------------------------------------------------------------------------- 50 kWe PrOx I Reactor Bldg 46 DOE PRDA Alex - ------------------------------------------------------------------------------------------------- Trailer A DOE PRDA - ------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------- 50 kWe PrOx2 Reactor Storage DOE PRDA Alex - ------------------------------------------------------------------------------------------------- Bldg 46 DOE PRDA Mod for 2X volume - -------------------------------------------------------------------------------------------------
EPYX CONFIDENTIAL
- -------------------------------------------------------------------------------- Miscellaneous Reactor Prototype Inventory - -------------------------------------------------------------------------------- Current Model No. (aka Hardware Design Drawing No.) Unit S/N Status Release - -------------------------------------------------------------------------------- DOE Phase III LTS 34788-Dl-201 1 Complete 4/14/99 - -------------------------------------------------------------------------------- 2 Complete 4/14/99 - -------------------------------------------------------------------------------- CDS Reactor Maria's sketch 1 Complete - -------------------------------------------------------------------------------- 68191-D1-451 2 Complete 11/22/99 - -------------------------------------------------------------------------------- 68191-D1-451 3 Complete 11/22/99 - -------------------------------------------------------------------------------- 68191-D1-451 4 Complete 11/22/99 - -------------------------------------------------------------------------------- 68191-D1-451 5 Complete 11/22/99 - -------------------------------------------------------------------------------- 68191-D1-451 6 11/22/99 - ------------------------------------------------------------------------------- 68191-D1-451 7 11/22/99 - -------------------------------------------------------------------------------- Steam Separator SS01-001 1 Complete - -------------------------------------------------------------------------------- SS01-001 2 - -------------------------------------------------------------------------------- SS01-001 3 - -------------------------------------------------------------------------------- SS01-001 4 - -------------------------------------------------------------------------------- SS01-001 5 - -------------------------------------------------------------------------------- SS01-001 6 - -------------------------------------------------------------------------------- SS01-001 7 - -------------------------------------------------------------------------------- Water Separator WS01-001 1 Complete - -------------------------------------------------------------------------------- WS01-001 2 - -------------------------------------------------------------------------------- WS01-001 3 - -------------------------------------------------------------------------------- WS01-001 4 - -------------------------------------------------------------------------------- WS01-001 5 - -------------------------------------------------------------------------------- WS01-001 6 - -------------------------------------------------------------------------------- WS01-001 7 - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------ Miscellaneous Reactor Prototype Inventory - ------------------------------------------------------------------------------------------------ Date Parts Date Assy Current Assigned PO resp. Received Complete Location To Comments - ------------------------------------------------------------------------------------------------ DOE Phase III LTS Mat'ls Lab DOE PRDA A. Jamll - ------------------------------------------------------------------------------------------------ Bldg 46 DOE PRDA - ------------------------------------------------------------------------------------------------ CDS Reactor BTU #1 M. Sun - ------------------------------------------------------------------------------------------------ 11/29/99 - 12/20/99 Bldg 46 BTU #2 A. Rivera - ------------------------------------------------------------------------------------------------ 11/29/99 - 1/6/00 BTU land BTU #8 - ------------------------------------------------------------------------------------------------ Gunther 12/10/99 - 1/6/00 BTU land BTU #3 - ------------------------------------------------------------------------------------------------ Gunther 12/10/99 - 1/6/00 BTU land BTU #4 - ------------------------------------------------------------------------------------------------ Gunther 12/10/99 - BTU land BTU #6 - ------------------------------------------------------------------------------------------------ Gunther 12/10/99 - BTU land BTU #7 - ------------------------------------------------------------------------------------------------ Steam Separator Will PPGM - ------------------------------------------------------------------------------------------------ Will 1/17/00 Renault - ------------------------------------------------------------------------------------------------ Will 1/17/00 VW - ------------------------------------------------------------------------------------------------ Will 1/24/00 SFAA - ------------------------------------------------------------------------------------------------ Will 1/24/00 - ------------------------------------------------------------------------------------------------ Will 2/4/00 - ------------------------------------------------------------------------------------------------ Will 2/4/00 - ------------------------------------------------------------------------------------------------ Water Separator Will PPGM - ------------------------------------------------------------------------------------------------ Will 1/17/00 Renault - ------------------------------------------------------------------------------------------------ Will 1/17/00 VW - ------------------------------------------------------------------------------------------------ Will 1/24/00 SFAA - ------------------------------------------------------------------------------------------------ Will 1/24/00 - ------------------------------------------------------------------------------------------------ Will 2/4/00 - ------------------------------------------------------------------------------------------------ Will 2/4/00 - ------------------------------------------------------------------------------------------------
EPYX CONFIDENTIAL
Heat Exchangers - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Model No.(aka Unit S/N Current Design PO Resp Date Date H/W Current Assigned Comments Drawing No.) Hardware Release Parts Ass'd Location To Status Received - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Superradiator DOE Phase III 1 DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ 2 DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ Modine Phase III 1 DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ 2 DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ Modine Phase IV 1 B. Nowicki 12/9/99 Trailer DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ 2 B. Nowicki 12/9/99 Trailer DOE PRDA - ------------------------------------------------------------------------------------------------------------------------------------ BTU PrOx Intercooler Matt's sketch 1 BTU #1 - ------------------------------------------------------------------------------------------------------------------------------------ Matt's sketch 2 BTU #2 - ------------------------------------------------------------------------------------------------------------------------------------ 68191-D1-651 3 On Order Gus due 1/14 Bldg 46 BTU #3 - ------------------------------------------------------------------------------------------------------------------------------------ 68191-D1-651 4 On Order Gus due 1/14 Mfg Lab BTU #4 - ------------------------------------------------------------------------------------------------------------------------------------ 5 On Order Gus due 1/28 BTU #5 - ------------------------------------------------------------------------------------------------------------------------------------ 6 On Order Gus due 2/11 BTU #6 - ------------------------------------------------------------------------------------------------------------------------------------ 7 On Order Gus due 2/25 BTU #7 - ------------------------------------------------------------------------------------------------------------------------------------ 8 On Order Gus due 3/10 BTU #8 - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------ Epyx Custom Components Summary (Reactors, Heat Exchangers & Miscellaneous) - ------------------------------------------------------------------------------------------------------------------------ Custom Component PrOx LTS Heat Tail Gas Steam Status Fuel Processors Reactors Reactors Exchangers Combustors Separators - ------------------------------------------------------------------------------------------------------------------------ DOE Phase I 5-Bed LTS 1 (3.5 L 50 kWe Fuel 10 kWe Anode 50 kWe Ethanol Test Radial Vaporizer Burner + Auto Existing Hardware Model A Reactor Flow) (8008-008) Catalyst Bo Special - ------------------------------------------------------------------------------------------------------------------------ PrOx 1 50 kWe Gasoline (3.5L 10 kWe Fuel Model A (8008- Radial Vaporizer Natural Gas Existing Hardware 101) Flow) (8037-002) TGC (EP) - ------------------------------------------------------------------------------------------------------------------------ 10 kWe Gasoline Doe Phase 11 Model A (8035- PrOx 2 1O kWe Existing Hardware 001) (Monolith) TGC/CC - ------------------------------------------------------------------------------------------------------------------------ Merchant H2 10 kWe Gasoline Thermal Model B (8037- Reactor Existing Hardware 001) (HGTGC-001) - ------------------------------------------------------------------------------------------------------------------------ Merchant H2 FPA Existing Hardware (5064-001) - ------------------------------------------------------------------------------------------------------------------------ MiniPox A (93747- Existing Hardware 00) MiniPrOx MiniTGC - ------------------------------------------------------------------------------------------------------------------------ Existing Hardware MiniPox B - ------------------------------------------------------------------------------------------------------------------------ 190 kWth PrOx 190 kWth DOE 1(34788-D 190 kWth 190 kWth DOE Phase 111 (8051- 300) & LTS (34788- Phase III TGC New Designs 001) PrOx 2 D-200) (34788-D-100) - ------------------------------------------------------------------------------------------------------------------------ PS-1 New Designs PS-1 FPA PrOx PS-1 LTS PS-1 TGC - ------------------------------------------------------------------------------------------------------------------------
Inventory of EPYX Equipment In Laboratory 15L/109 3/31/00 Quantity Part Company ADL # 2 Hoods for Ventilation Anemostat 1 GC/MS with spare parts Hewlett Packard 140-135 1 Furnace Type 6000 with separate Control Box Thermolyne 3 Gas Detectors (Combustibles, CO, H2) USI 1 Printer Minolta 3 Bubble Generators with appropriate Kit Gillian Sensodyne 2 Corner Slate Top Cabinets containing glassware and GC sampling components 1 Flexible Metal Hose Cambridge Valve and Fittings 2 Small computer stands on wheels 1 5890 Series 11 G.C. Hewlett Packard 3 Carrier Gas Drying Tubes Supelco 5 Cylinder Holders 1 Microreactor Rig with Control Stand EPYX 12 Mass Flowmeters, 1 Pressure Controller, 1 refrigerator, 1 oven Brooks, Cole Parmer, Lindberg 1 Mesoreactor Rig with Control Stand EPYX 7 Mass Flowmeters, 1 Pressure Controller, 1 refrigerator, 1 large oven Brooks, Cole Parmer, Lindberg 2 Toolboxes full of tools 1 861OB G.C. SRI 1 Chrompack Micro G.C. Varian 2 Fuel Cell Test Stands EPYX 1 Big Hydrocarbon Trap R&D separations 4 HPLC Pumps Series III Bodman 1 Mobile Work Bench Kennedy 2 Gray one-shelf Work Bench 33 Calibration Gas Cylinders Matheson and AGA 1 PC Based Data Acquisition and Process Controller (2000) Camile 1 Spare Oven Heating Element Lindberg 1 Vacuum Nilfisk 1 Electric Boiler Chromalox 1 G.C. Work Bench 1 Plastic Cart 1 PH meter Consort 1 Gas Sample Carrier Intrument EPYX 1 Mobile Cart with Part Storage Container full of Rig replacement equipment 2 Large Gray Metal Cabinets
Submitted By: Carlo Cloffi 1 3/31/00
Quantity Part Company ADL # Gas regulators, Electrical and Plastic and Metal Tube Fittings, and a TV 1 Cabinet for Flammable Liquids Model 1962 1 Respirator Storage Container with Several Respirator Global 1 Slide Door Cabinet with Safet Equipment 2 Hazardous Waster Compression Seal Containers 1 Model 14658 Stirre/Hot Plate Cole Parmer 1 Metal Shelf with GC equipment 1 Ultrasonic Cleaner 3/4 Gallon Lab Safety 3 1 Liter Dewar Flasks Naglene 1 Spill Tray, 21"x17"x4" Lab Safety 2 Infinite Divider Boxes with Lab Equipment Lab Safety 1 Lab Rack Scienceware 1 Dual Temperature Controller Omega-Custom 1 Metal two shelf cart 1 Heated Valve Box Valco 1 Metal Safety Can Justrite 1 Plastic Safety Can Justrite 1 Metal Canopy 1 Small cylinder carrier cart hand crafted
Submitted By: Carlo Cioffi 2 Catalyst Lab 3/31/00 Inventory of EPYX Equipment In Laboratory 15L/108
Quantity Part Company ADL # 1 Hood for Ventilation with Cabinets Hamilton 1 large Furnace Lindberg 2 Gas Detectors (CO, H2) USI 1 Printer Minolta 1 Corner Slate Top Cabinets containing GC sampling components and Balance Equipment 2 Six-Cylinder Holders 1 Microreactor Rig with Control Stand EPYX 8 Rotameters, 2 Pressure Regulators, 1 clam-shell oven Cole Parmer, Aircontrol INC. 1 Toolboxes full of tools Allen 1 Chrompack Micro G.C. Varian 2 Syringe Pumps Harvard Apparatus 1 G.C. Work Bench 1 Large Gray Metal Chemical Cabinet 1 Plastic Vent Hood 1 Cabinet for Flammable Liquids 1 Model 1103 Stirrer/Hot Plate Jenway 1 Wood Shell 1 Laboratory Mixer with Controller 2 Auto-transformers Varlac 1 Two-Gas cylinder Cabinet with Vent Matheson 1 EZ-label Printer Casio 1 Slate top Sink with Cabinet 1 Medium Slate top Cabinet with Microreactor rig spare parts 2 Large Slate Top Cabinets Containing Catalyst, Glassware, and Spare Equipment 1 Periodic Table of Elements Elsevier 1 Dry Glass rack Kartell 2 Fischer Burners Fischer Scientific 1 Laboratory Blender Waring 1 Water Ultrasonic Heater FS20 Fischer Scientific 1 Mass Four-Flow Controller and Meter Porter 1 Hydraulic Unit Model # 3912 Carver 1 metal grinder Straub 2 grinder Proctor-Silex 1 scale Metler 2 Dryers
Submitted By: Carlo Cioffi 1 3/31/00
Ouantity Part Company ADL # 1 Nanopure Ultra-Pure Water System Barnstead 1 60" Fan 1 Water/Heater Oven Omega 1 Metal stand 1 Masterflex C/L Cole Parmer 1 Consort P601 Cole Parmer 1 Compaq DeskPro 3865 computer Compaq 143-1954 1 Computer Monitor Compaq 1 Laser Jet Printer Hewlett Packard 143-1527 22 Boxes of Purex Glassware Corning 1 (110gX0.1mg) scale Explorer 1 Portable Scale Ghaus 1 Portable Clam Sheel Oven EPYX 1 Circulator Leeds and Northrup 1 Laser-Particle Analyzer MicroTrac Fra 1 Stirrer Cole Parmer 1 Rs-232/Rs-485 Converter/Repeater Omega 2 large Plastic Tanks Nalgene 1 30/60 Heavy Duty Charger/ 200/300 amp Starter, Charge load tester with 6/12 volts Schumacher 1 Oven/Vacuum Chamber/Pump Model 900 Thermo-Environment 1 Antek 900-s Total Sulfur Analyzer Antek 1 Antek model 734-2 gas sample box Antek 1 Antek model 735 syringe drive Antek 1 Dell computer for Antek system, to be replaced from a laptop Dell 1 HP6890 GC from pilot plant Hewlett Packard 1 HP Vectra Computer for 6890 GC Hewlett Packard
Submitted By: Carlo Cioffi 2 Analytic Equipment (Partial)
- ---------------------------------------------------------------------------------------------------------------------- Type Mfr Model SIN Location Special - ---------------------------------------------------------------------------------------------------------------------- Laser Particle Analyzer Microtrac FRA 15L/108 - ---------------------------------------------------------------------------------------------------------------------- Micro GC Varian CP2003P 941096 15L/108 Dual Channel - ---------------------------------------------------------------------------------------------------------------------- Micro GC Varian CP2003P 941031 15L/109 Dual Channel - ---------------------------------------------------------------------------------------------------------------------- GC Hewlett-Packard 5890 LR47359C 15L/109 w/Methanizer - ---------------------------------------------------------------------------------------------------------------------- GC/MS Hewlett-Packard 6890/5973 US00007467 15L/109 - ---------------------------------------------------------------------------------------------------------------------- Total Sulfur Analyzer Antek 9000S En Route - ---------------------------------------------------------------------------------------------------------------------- GC SRI 8610B N1010 15L/136 w/Methanizer - ---------------------------------------------------------------------------------------------------------------------- CO Analyzer Horiba VIA ###-###-#### 15L/136 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- O2 Analyzer Horiba VIA ###-###-#### 15L/136 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO2 Analyzer Horiba VIA ###-###-#### 15L/136 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- Gas Sampler EPYX Barrett 15L/109 New - ---------------------------------------------------------------------------------------------------------------------- Analytic Balance OHAUS E01140 ###-###-#### 15L/108 110g Max - ---------------------------------------------------------------------------------------------------------------------- GC Hewlett-Packard 6890 Bid 46 w/Methanizer - ---------------------------------------------------------------------------------------------------------------------- Micro GC Hewlett-Packard M200H Bid 46 Dual Channel - ---------------------------------------------------------------------------------------------------------------------- Micro GC Varian CP2003P Bid 46 Dual Channel - ---------------------------------------------------------------------------------------------------------------------- CO Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO2 Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO2 Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- CO Analyzer Horiba VIA-510 Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- THC Horiba VIA-510 Model B Bid T6 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- NOX Horiba CLA-51OSS Model B Bid 46 IR Flow Cell Type - ---------------------------------------------------------------------------------------------------------------------- O2 Analyzer Horiba MPA-520 Model B Bid 46 IR Flow Cell Type - ----------------------------------------------------------------------------------------------------------------------
BLDG. 46 James Cross 03/31/2000 10:12 AM To: William Mitchell/ADLittle@ADLittle cc: Subject: Equipment List- Bldg 46 for Epyx/De Nora bill -- here is list - ------------ Forwarded by James Cross/ADLittle on 03/31/2000 10:12 AM ---------- Pai-Yung Woo 03/13/2000 03:08 PM To: James Cross/ADLittle@ADLittle cc: Hi James, Per your request on Friday of document preparations for De Nora/Epyx business development effort, here is the List of major pieces of equipment and apparatus in Bldg. 46. Please let me know if you need additional informations. P.Y. Epyx Pilot Plant - Reformer/Fuel Cell Technology Development Center (Bldg. 46 at Acorn Park) List of Major Pieces of Equipment and Apparatus (1) Process Air Compressor Type: Rotary Screw Compressor Mfr.: Sullair Corporation, IN Model: ES11 Integral Compressor/Air Dryer Capacity: 40 hp, 163 ACFM, Max. pressure 125 PSI; (2) Utility Air Compressor: Type: Reciprocating Mfr.: SpeedAir Model: 3JR77 Capacity: 7 hp, 17 CFM @90 PSI (3) Natural Gas Compressor: Type: Reciprocating Mfr.: Universal Air Products Corporation, VA Model: UR2.60-15NGB Capacity: 15 hp, 60 SCFM, 200 PSIG (4) Process Chiller: Type: Compressor/refrigeration Mfr.: GC Industries, DE Model: Icewagon 100AC-OD Capacity: 5 hp, 10 tons @50F or 120k Btu/hr. (5) Fuel Delivery Enclosure: Type: Steel and Fire-Rated Mfr.: Safety Storage Inc., CA Model: #15 Capacity: 134 sq-ft (6) Fuel Pumps (gear): Type: Gear Mfr.: Suntec Industries, Inc., IN Model: J6BC-325 Capacity: 43GPH @ 100 PSIG (7) Fuel Pump (vane) Type: Rotary Vane Mfr.: Weldon Pump, OH Model: A2015-A Capacity: 100GPH @75 PSIG @14VDC on gasoline (8) Process Steam Generator: Type: Electric powered Mfr.: Emerson Electric Company, PA Model: CES-048A8F31-483 Capacity: 68kW, 238 lb/hr., saturated, 150 PSIG max. (9) Water Deionizer: Type: Ion-Exchange Mfr.: Barnstead/Thermolyne, IA Model: B-Pure Capacity: 30 GPH, 100 PSIG, 18 Mohm-cm (10) Gas Monitor for Lab Safety (Carbon Monoxide) Type: Solid-state Diffusion Mfr.: US. Industrial Products Co Inc., CA Model: 4200R Capacity: 250 PPM, remote (11) Gas Monitor for Lab Safety (Hydrogen) Type: Solid-state Diffusion Mfr.: U.S. Industrial Products Co Inc., CA Model: 7200R Capacity: 20k PPM, remote (12) On-line Gas Analyzer-(CO) Type: Non-Dispersive Infrared analysis Mfr.: Horiba, CA Model: VIA-510 Capacity: CO, 0 to 50% (13) On-line Gas Analyzer (CO2) Type: Non-Dispersive Infrared analysis Mfr.: Horiba, CA Model: VIA-510 Capacity: CO2, 0 to 20% (14) On-line Gas Analyzer (CO) Type: Non-Dispersive Infrared analysis Mfr.: Horiba, CA Model: VIA-510 Capacity: CO, 0 to 50, 100, 500, 1000 PPM (15) On-line Gas Analyzer (O2) Type: Paramagnetic Mfr.: Horiba, CA Model: MPA-510 Capacity: 0 to 5, 10, 25, 50% (16) On-line Gas Analyzer (NO/NOx) Type: Chemiluminescence method Mfr.: Horiba, CA Model:CLA-510SS Capacity: 0 to 20, 50, 100, 200, 500, 1000, 2000 PPM (17) On-line Gas Analyzer (HC) Type: Flame ionization Mfr.: Horiba, CA Model: FIA-510 Capacity: Total HC (C3H8), 0 to 10, 50, 100, 500, 1000, 5000, 10000 PPM (18) Process Ventilation Canopies (10) 6,000 SCFM, 3,000 SCFM, 3,000 SCFM (19) Electric Power: 300A @480V Total; (20) Space: 3000 sq.ft total; Reformer Lab (Bldg. 46) Equipment List (with price for budgetary Planning) 40 HP air compressor (1) $16,000 180 gallon air tank (1) $1,200 60 gallon air tank (1) $600 N.G. compressor (1) $43,000 S/S after burn chamber (1) $3,500 Fuel enclosure (1) $30,000 Drum fuel delivery system (3) $1,500/ea $4,500 Explosion proof motor (3) $500/ea $1,500 Fuel drum spill skid (8) $350/ea $2,800 Fuel pump motor (4) $150/ea $600 20kW/40kW electric heater and controller (1) $15,000 Process boiler (68kW) (1) $8,000 Process boiler (12kW) (1) $1,600 Process boiler (9kW) (2) $1,400/ea $2,800 Process boiler (20kW) (1) $1,800/ea Boiler feed pump (8) $ 330/ea $2,640 Double head vacuum pump (4) $950/ea $3,800 HEPA vacuum pump (2) $1,200/ea $2,400 CO detector 4200R (8) $930/ea, $7,440 H2 detector 7200R (8) $930/ea $7,440 19" rack for analyzers (5) $1,700/ea $8,500 CO analyzer 1000ppm (3) $9,650/ea $28,950 CO analyzer 50% (3) $7,850/ea $23,550 CO2 analyzer 20% (3) $8,000/ea $24,000 O2 analyzer 100% (1) $9,000/ea NOx analyzer (1) $9,500 HC analyzer (1) $22,000 Sampler (1) $3,500 Process ventilation canopy system (9) $1,350/ea $12,150 Ventilation blower (3) $650/ea $1,950 Dalton blower (1) $300 Blue M oven (1) $5,000 Battery charger (1) $500 Teel 20 gallon tank (1) $500 Patton Fan (1) $200 Lathe insulation cutter (1) $1,500 Chiller (1) $22,000 Refrigerator bath (5) $2,200/ea $11,000 Total $340,720 1 - HP 6890 GC ~ 45K 1 - HP Micro GC ~ 20K - Various Lab Furniture - Cabinets & Parts 1 - VARIAN MICRO GC ~ 20K FUEL CELL TECHNOLOGY ELECTRONICS LAB 15/153 A ------------------------ 1. 3 ELECTRONICS BENCHES - LIST A 2. Leader 730-3D Power Supply 3. BK Model 1686 Power Supply 4. WAHL SOLMAX 7485 Soldering Station 5. MISC. ELECTRONICS STOCK PARTS 6. FLUKE SCOPE METER 7. 3 EA - DIGITAL MULTI METERS 15L/110 Materials Processing Laboratory Inventory January 13, 2000 o Vibco large vibrator SN 10B00206 o Nilfisk GS80 Vacuum Cleaner o Buffalo Vibrator #200 o Thermodyne Type 6000 Furnace, 0 to 2000(degree)F o Blue-M StabilTherm Oven, 0 to 600(degree)FLT-1041R o 13 ft bench with cabinet o 1000 lb. Capacity scale sv13237 o Filter mate air purification system SN98.30.015 o Valley craft drum hoist model #8565B 0599 o Large mop and pail o Seven 55 gallon drums of catalyst o Twelve 30 gallon drums of catalyst o Fifteen 5 gallon drums of catalyst o 10 ft. 55 gallon drum storage platform o Trash Can o Lab Furniture and Fume Hood 15L/138 INVENTORY
4. Date 1/3/2000 5. Submitted by: Mark Hagan 6. Ext.: 6559 Vendor Number: ---------- ------------------------------- ----- ---------------------------- 7. Deliver to (NAME): Mary Lou Haud Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building / Room: 15L/120 9. Ext.: 6517 Extension: --------------------------------------------- ----- -------------------------------- 10. Date Needed: 1/10/2000 C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 93286-01 12. [ ] Gov. Case [ ] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 194 15. Employee No.: 5956 Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable? [ ] Yes [ ] No 17. Is Mat'l Certification required? Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [ ] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [ ] Suggested Source GRAINGER Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. 505546 Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acorn Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [ ] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 1 3 4W520 3W044 Edsal 3001 Gray Cabinet ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ 2 1 7W405 4TV75 48" INDUSTRIAL CABINET ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ 3 1 5U989 7D203 Welded Bin Storage Cabinet ___________________________________________________________________________________________________________________________________ 4 48 2W777 Bins ___________________________________________________________________________________________________________________________________ 5 1624 2W779 Bins ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBER ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
4. Date 1/10/2000 5. Submitted by: Gus Block 6. Ext.: 5412 Vendor Number: ---------- ------------------------------- ----- ---------------------------- 7. Deliver to (NAME): Gus Block Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building / Room: 15L-103 9. Ext.: 5412 Extension: --------------------------------------------- ----- ------------------------------- 10. Date Needed: 1/11/2000 C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 93284-15 12. [ ] Gov. Case [X] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 194 15. Employee No.: 932 Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [X] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [X] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature /s/ Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [X] Suggested Source Craftsman Industrial Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [X] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted ###-###-#### Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acom Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [X] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 1 2 9-WOC3 Written Pipet Bench Vise, 7" opening ___________________________________________________________________________________________________________________________________ 2 2 9-27194 14.4V Portable Electric Drill ___________________________________________________________________________________________________________________________________ 3 1 9-31228 14 pc file set ___________________________________________________________________________________________________________________________________ 4 1 9-38463 8 oz. Ball Pein hammer ___________________________________________________________________________________________________________________________________ 5 1 9-38465 16 oz. Ball Pein hammer ___________________________________________________________________________________________________________________________________ 6 1 9-38466 24 oz. Ball Pein hammer ___________________________________________________________________________________________________________________________________ 7 1 9-MH40100 9" Pry Bar ___________________________________________________________________________________________________________________________________ 8 1 9-MH40102 18" Pry Bar ___________________________________________________________________________________________________________________________________ 9 1 9-39830 Universal Protractor / Level ___________________________________________________________________________________________________________________________________ 10 1 9-94876 Utility knife ___________________________________________________________________________________________________________________________________ 11 1 9-94881 Replacement blades, Pkg. 100 ___________________________________________________________________________________________________________________________________ 12 1 9-KL-15INS Diagonal Pliers ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBER ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
4. Date 1/10/2000 5. Submitted by: Gus Block 6. Ext.: Vendor Number: ---------- ------------------------------- ----- ---------------------------- 7. Deliver to (Name): Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building/Room: 9. Ext.: Extension: --------------------------------------------- ----- ------------------------------- 10. Date Needed: C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case/Account: 12. [ ] Gov. Case [ ] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 15. Employee No.: Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [ ] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [ ] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature /s/ Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [ ] Suggested Source Craftsman Industrial Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acorn Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [X] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 25 1 9-AT6LN Long nose pliers locking 6'1 ___________________________________________________________________________________________________________________________________ 26 1 9-BH10937 Balldriver L-wrench set, Inch ___________________________________________________________________________________________________________________________________ 27 1 9-BH10999 Balldriver L-wrench set, Metric ___________________________________________________________________________________________________________________________________ 28 1 9-4362 10 pc. crowfoot wrench set ___________________________________________________________________________________________________________________________________ 29 1 9-WR1080 1-1/8" crowfoot wrench ___________________________________________________________________________________________________________________________________ 30 1 9-WR1082 1-1/4" crowfoot wrench ___________________________________________________________________________________________________________________________________ 31 2 9-42230 12 pc. wrench set ___________________________________________________________________________________________________________________________________ 32 2 9-44933 1" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ 33 2 9-44935 1-1/16" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ 34 2 9-44936 1-1/8" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ 35 2 9-44937 1-1/4" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBER ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
4. Date 1/10/2000 5. Submitted by: Gus Block 6. Ext.: 5412 Vendor Number: ---------- ------------------------------- ------ ---------------------------- 7. Deliver to (Name): Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building / Room: 9. Ext.: Extension: --------------------------------------------- ----- ------------------------------- 10. Date Needed: C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 12. [ ] Gov. Case [ ] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 15. Employee No.: Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [ ] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [ ] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature /s/ Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [ ] Suggested Source Craftsman Industrial Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acom Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [X] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 36 2 9-44235 1/2" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ 37 2 9-44236 9/16" long pattern comb. wrench ___________________________________________________________________________________________________________________________________ 38 2 9-44263 Extension bar 20" x 3/8" ___________________________________________________________________________________________________________________________________ 39 1 9-34843 3/8" 51 pc Socket set ___________________________________________________________________________________________________________________________________ 40 1 9-4435 Universal joint ___________________________________________________________________________________________________________________________________ 41 1 9-40169 Electronic Display caliper ___________________________________________________________________________________________________________________________________ 42 1 9-3869 6" Comb. square ___________________________________________________________________________________________________________________________________ 43 2 9-LFW9210 10' pocket tape ___________________________________________________________________________________________________________________________________ 44 1 9-67115 115 pc drill set ___________________________________________________________________________________________________________________________________ 45 1 9-65918 6-Drawer Pool Chest ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBER ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
4. Date 1/10/2000 5. Submitted by: Gus Block 6. Ext.: 5412 Vendor Number: ---------- ------------------------------- ----- ---------------------------- 7. Deliver to (Name): Gus Block Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building / Room: 15L/103 9. Ext.: Extension: --------------------------------------------- ----- ------------------------------- 10. Date Needed: C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 12. [ ] Gov. Case [ ] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 15. Employee No.: Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [ ] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [ ] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature /s/ Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [ ] Suggested Source Craftsman Industrial Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted ###-###-#### Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acorn Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [ ] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 46 1 T-65919 Rollaway ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBER ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
Date 1/10/2000 5. Submitted by: Gus Block 6. Ext.: 5412 Vendor Number: ---------- ------------------------------- ----- --------------------- Deliver to (Name): Gus Block Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building / Room: 15L/103 9. Ext.: 5412 Extension: --------------------------------------------- ----- ------------------------------- 10. Date Needed: 1/11/2000 C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 93286-15 12. [ ] Gov. Case [X] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 194 15. Employee No.: 0932 Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [X] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [X] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature /s/ Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [X] Suggested Source McMaster Carr Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted ###-###-#### Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACT'S NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acorn Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [X] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 1 3 8290A31 Ratchet tube cutter ___________________________________________________________________________________________________________________________________ 2 3 8290A32 Ratchet tube cutter ___________________________________________________________________________________________________________________________________ 3 12 8290A33 Extra tube cutter wheels ___________________________________________________________________________________________________________________________________ 4 12 8290A34 Extra tube cutter wheels ___________________________________________________________________________________________________________________________________ 5 3 8910A12 Variable diameter drills ___________________________________________________________________________________________________________________________________ 6 1 60515A3 2 lb. dead blow hammer ___________________________________________________________________________________________________________________________________ 7 1 5682A47 Phillips Round blade screwdriver ___________________________________________________________________________________________________________________________________ 8 1 6970A11 Slotted round blade X-long screwdriver ___________________________________________________________________________________________________________________________________ 9 1 6714T82 Flashlight ___________________________________________________________________________________________________________________________________ 10 2 4075A21 Hacksaw ___________________________________________________________________________________________________________________________________ 11 2 2476A25 Hacksaw blades, 24 tpi ___________________________________________________________________________________________________________________________________ 12 3 7016K71 Standard Reel Retracting Electric Cord ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBERS ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY 3. WHERE FREIGHT CHARGES ARE APPLICABLE, PLEASE PREPAY AND ADD.
4. Date 12/23/1999 5. Submitted by: Gus Block 6. Ext.: 5412 Vendor Number: ---------- ------------------------------- ---- ---------------------------- 7. Deliver to (Name): Gus Block Buyer Name and Number: ------------------------------------------------------------ --------------------- 8. Building/Room: 15L/138 9. Ext.: 5412 Extension: --------------------------------------------- ---- ------------------------------- 10. Date Needed: 1/7/2000 C.E.R. Number: ----------------------------------------------------------------- ---------------------------- 11. Case / Account: 93286-15 12. [ ] Gov. Case [X] Civ. Case Standing Order: [ ] Minority Vendor: [ ] -------- 13. Expense Category No.: 14. Unit No.: 194 15. Employee No.: 0932 Small Business Vendor: [ ] ----- ----- ----- 16. Is substitute acceptable: [ ] Yes [X] No 17. Is Mat'l Certification required Lease/Rental Purchase: [ ] L [ ] R [ ] Yes [X] No Buyer's Confirmation: [ ] Yes [ ] No 18. Approval Signature Follow-up Date: ------------------------------------------------------------ --------------------------- Section Head / Case Leader / Business Manager 19. Vendor Name: Date Received: --------------------------------------------------------- ---------------------------- [X] Suggested Source Global Industrial Equipment Received By: (ADL Recv. Dept) --------------------------------------------------------- ---------------------------- [ ] Mandatory Source Shipped Via: --------------------------------------------------------- ----------------------------- [ ] Vendor Contacted ###-###-#### Date Delivered to Recipient: --------------------------------------------------------- --------------- CONTACTS NAME PHONE NUMBER Accepted By: FAX NUMBER: ----------------------------- (Print/Legible Signature of Recipient ) ____________________________________________________________________________________________________________________________________ PURCHASE ORDER No. 505546 Fax: 800 ###-###-#### Part No. Arthur D. Little INVOICE TO: Arthur D. Little, Inc. 20 Acorn Park, Cambridge, MA USA 02140-2390 . Telephone ###-###-#### . Telefax: 617 ###-###-#### SHIP TO DATE OF ORDER LOCATION [ ] SEE [X] 20 ACORN PARK [ ] NO COPY TO RECEIVING MARKED BELOW CAMBRIDGE, MA 02140-2390 NECESSARY ____________________________________________________________________________________________________________________________________ FOR USE ON GOVERNMENT CONTRACT NUMBER PRIME SUB TO ARRIVE ON OR BEFORE SHIP VIA F.O.B. PPD TERMS SHIP PT. [ ] DESTINATION [ ] ____________________________________________________________________________________________________________________________________ ___________________________________________________________________________ [ ] MASSACHUSETTS SALES/USE TAX STATUS ___________________________________________________________________________ VENDOR REGISTRATION NO. 041549700 ___________________________________________________________________________ [ ] TAXABLE, ADD IF REGISTERED MASS. VENDOR ___________________________________________________________________________ [ ] EXEMPT, FOR RESALE, CERTIFICATE FURNISHED ATTN: [ ] EXEMPT, FOR MFG. USE, CERTIFICATE FURNISHED ___________________________________________________________________________ [ ] EXEMPT, NOT TAXABLE BY MASS. LAW [ ] OTHER ____________________________________________________________________________________________________________________________________ ITEM QUANTITY CATALOG NO. DESCRIPTION PRICE NO. ____________________________________________________________________________________________________________________________________ 1 6 DH 651397 60x36" Basic Bench, Maple top 248.95 3 wks ___________________________________________________________________________________________________________________________________ 2 3 DH 651416 48X24" Bench Return, Maple top 154.95 in store ___________________________________________________________________________________________________________________________________ 3 6 DH 651431 60" Bench Upright 95.95 " ___________________________________________________________________________________________________________________________________ 4 6 DH 651428 60X12" Cantilever Shelf 72.95 " ___________________________________________________________________________________________________________________________________ 5 3 DH 651443 60" Bin Panel Kit, 3 Bin Panels 67.95 3 wks ___________________________________________________________________________________________________________________________________ 6 3 DH 651444 60" Bin Panel, 2 Bin Panels, 1 Steel 63.95 in store ___________________________________________________________________________________________________________________________________ 7 3 DH 651439 48" Electric Strip 47.95 3 wks ___________________________________________________________________________________________________________________________________ 8 3 DH 651436 24" Bench Drawer 51.95 " ___________________________________________________________________________________________________________________________________ 9 3 DH 651438 36" Bench Drawer 55.95 " ___________________________________________________________________________________________________________________________________ 10 6 DH 651455 60X16" Lower Shelf 64.95 in store ___________________________________________________________________________________________________________________________________ 11 2 DH 344853 Production Stool 251.95 7 days ___________________________________________________________________________________________________________________________________ 12 Cont'd p. 1of 2 ___________________________________________________________________________________________________________________________________ THIS ORDER SUBJECT TO CONDITIONS OF SALE ON FACE AND REVERSE SIDE. TOTAL 1. ACKNOWLEDGE THIS ORDER IMMEDIATELY, GIVING PRICE AND FULL DELIVERY INFORMATION. ____________________________________ 2. SHOW ORDER NUMBERS ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE. BUYER'S SIGNATURE ONLY
Please see Changes in Bold EPYX Inventory (194) as of 3/31/00
ASSET LAST FIRST MAKE MODEL 300-2702 Batal John IBM 17" color monitor ###-###-#### Batal John IBM PC300PL ###-###-#### Bentley Jeffrey IBM Thinkpad ###-###-#### Bentley Jeffrey IBM Thinkpad 560E P/MMX ###-###-#### Bentley Jeffrey IBM PC300 PL ###-###-#### Bentley Jeffrey IBM 21" G72 FS color monitor ###-###-#### Bentley Jeffrey IBM Thinkpad ###-###-#### Bentley Jeffrey IBM Thinkpad 600X ###-###-#### Bentley Jeffrey Compaq LTE 5100 pentium ###-###-#### Bentley Jeffrey MAG Innovation 17" color monitor ###-###-#### Block Gus Compaq Deskpro 4000 ###-###-#### Block Gus Compaq Deskpro 4000 ###-###-#### Block Gus Compaq Deskpro 4000 ###-###-#### Block Gus Compaq 15" color monitor ###-###-#### Block Gus IBM Thinkpad ###-###-#### Block Gus IBM Thinkpad ###-###-#### Block Gus Compaq 15" color monitor ###-###-#### Block Gus Compaq 15" color monitor ###-###-#### Block Gus Compaq 15" color monitor 143-4397 Block Stephen AST AST SVGA-l-R ###-###-#### Bowers Brian IBM PC300 PL ###-###-#### Bowers Brian IBM 17" color monitor ###-###-#### Boyd Stephen Compaq 17" color monitor ###-###-#### Boyd Stephen Compaq Deskpro 4000 ###-###-#### Celona John Compaq 17" color monitor ###-###-#### Celona John Compaq Deskpro 4000 ###-###-#### Chintawar Prashant Quantex QP6 PII/300 MHz ###-###-#### Chintawar Prashant Quantex 17" color monitor ###-###-#### Cioffi Carlo Compaq 17" color monitor ###-###-#### Cioffi Carlo IBM PC300PL ###-###-#### Cioffi Carlo IBM 17 color G76
300-2445 Cole Terence IBM PC300 PL ###-###-#### Cole Terence IBM 17" color monitor ###-###-#### Cole Terence Quantex 17" color monitor ###-###-#### Cross James IBM Thinkpad ###-###-#### Cross James IBM Thinkpad 600X ###-###-#### Cross James IBM Thinkpad ###-###-#### Dorson Matthew Quantex QP6 P11/300 MHz ###-###-#### Goodwin Marc IBM PC300PL ###-###-#### Goodwin Marc IBM 17 color ###-###-#### Goodwin Mark IBM Thinkpad 380 ED ###-###-#### Hagan Mark Compaq 15" color monitor ###-###-#### Hagan Mark Compaq Deskpro 6000 ###-###-#### Hagan Mark Compaq Deskpro 6000 ###-###-#### Hailes Rebecca IBM PC300PL ###-###-#### Hailes Rebecca IBM 17 color ###-###-#### Hand Mary Tektronix Phaser 560C color laser ###-###-#### Hand Mary Compaq 17" color monitor ###-###-#### Hand Mary IBM PC300PL ###-###-#### Hansen Wesley IBM Thinkpad ###-###-#### Harvey Richard Compaq Deskpro 4000 ###-###-#### Haverty Alina Compaq Deskpro 4000 ###-###-#### Haverty Alina IBM 17" color monitor ###-###-#### Haverty Alina IBM PC300PL/350 143-1954 He Bo-Xiong Compaq Deskpro 386s ###-###-#### He Bo-Xiong IBM Thinkpad ###-###-#### Hill Steven Compaq 17" color monitor ###-###-#### Hill Steven Compaq Deskpro Pentium 4000 ###-###-#### Jamil Anwar IBM Intellistation MPro ###-###-#### Khan Abdul Apple 17" color monitor ###-###-#### Khan Abdul IBM Thinkpad 365XD ###-###-#### Kottenstette Nicholas Compaq 17" color monitor ###-###-#### Kottenstette Nicholas Compaq Deskpro 590 Pentium ###-###-#### Landry Brian IBM PC300 PL ###-###-#### Landry Brian IBM PC300 PL ###-###-#### Landry Brian IBM PC300 PL ###-###-#### Landry Brian IBM 17" color monitor 143-5547 Lavine KathySue Apple 17" color monitor
300-2594 Liu Helen IBM PC300PL ###-###-#### Liu Helen IBM 17" color monitor 143-1527 Mitchell William Hewlett-Packard HP Laserjet II 143-3203 Mitchell William Radius B/W (Apple) 143-3877 Mitchell William RGB 143-4863 Mitchell William Compaq Deskpro 486 33i 143-5132 Mitchell William Apple RGB Color Display 143-5551 Mitchell William Apple Apple 15" Color ###-###-#### Mitchell William Compaq Deskpro 4000 ###-###-#### Mitchell William Compaq 17" color monitor ###-###-#### Mitchell William IBM PC300 PL ###-###-#### Mitchell William IBM PC300 PL ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM 21" G72 FS color monitor ###-###-#### Mitchell William IBM PC300PL ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM PC300PL ###-###-#### Mitchell William IBM PC300PL ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM PC300PL ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM PC300 PL ###-###-#### Mitchell William IBM 17" color monitor ###-###-#### Mitchell William IBM Thinkpad 600X ###-###-#### Mitchell William Hewlett-Packard Vectra VL7 800- Mitchell William MAG Innovation 17" color monitor 800- Mitchell William MAG Innovation 17" color monitor ###-###-#### Mitchell William IBM ThinkPad 755C ###-###-#### Mitchell William Compaq Compaq 15" Color ###-###-#### Mitchell William Compaq Deskpro 5100 (Pentium) 800-2945 Mitchell William Compaq Compaq 2000 ###-###-#### Mitchell William Compaq 17" color monitor ###-###-#### Mitchell William Apple LaserWriter 16/600 Postscript ###-###-#### Mitchell William MAG Innovation 17" color monitor ###-###-#### Mitchell William Hewlett-Packard Vectra VU ###-###-#### Mitchell William Hewlett-Packard 17" color monitor
800-3766 Mitchell William Hewlett-Packard LaserJet 400OTN ###-###-#### Mitchell William Hewlett-Packard Kayak XA ###-###-#### Mitchell William Hewlett-Packard 17" color monitor ###-###-#### Mitchell William Compaq Deskpro 6000 ###-###-#### Mitchell William Compaq 17" color monitor ###-###-#### Mitchell William Compaq 17" color monitor ###-###-#### Mitchell William Hewlett-Packard Vectra VL7 ###-###-#### Mitchell William Hewlett-Packard Vectra VL7 ###-###-#### Mitchell William IBM Thinkpad ###-###-#### Mitchell William Hewlett-Packard 17" Ergo ###-###-#### Morriseau Brian IBM PC300 PL ###-###-#### Morriseau Brian IBM 17" color monitor ###-###-#### Mosher Paul IBM PC300PL ###-###-#### Mosher Paul IBM 17 color ###-###-#### Mosher Paul Compaq Deskpro 4000 Given to Jason Willey ###-###-#### Northrop William IBM PC300 PL ###-###-#### Northrop William IBM 17" color monitor 143-3632 Nowicki Brian AST SVGA 143-4865 Nowlckl Brian Compaq Deskpro 486 66i ###-###-#### Nowicki Brian Compaq Deskpro 4000 ###-###-#### Nowlckl Brian Compaq 17" color monitor ###-###-#### Nowicki Brian IBM 20" monitor ###-###-#### Nowicki Brian IBM 20" monitor ###-###-#### Nowicki Brian IBM Intellistation MPro ###-###-#### Nowicki Brian IBM Intellistation MPro ###-###-#### Nowicki Brian IBM 17" color monitor ###-###-#### Nowicki Brian IBM 21" ###-###-#### Nowicki Brian Compaq Deskpro Pentium 4000 ###-###-#### Nowicki Brian Compaq 15" color monitor ###-###-#### Nowicki Brian Mag DX 1745 17" color monitor ###-###-#### Nowicki Brian Mag DX 1745 17" color monitor ###-###-#### Nowicki Brian Mag DX 1745 17" color monitor ###-###-#### Polevaya Olga IBM PC300PL ###-###-#### Polevaya Olga IBM 17 color ###-###-#### Polevaya Olga IBM Thinkpad 560 Back to stock for future new hire ###-###-#### Pollica Darryl IBM PC300 PL ###-###-#### Pollica Darryl IBM 17" color monitor
300-2613 Pollica Darryl IBM PC300PL ###-###-#### Prabhu Srinivasa IBM Thinkpad ###-###-#### Prabhu Srinlvasa IBM Thinkpad ###-###-#### Qi Frank IBM PC300 PL ###-###-#### Qi Frank IBM 17" color monitor ###-###-#### Rivera Alejandro IBM 21" G72 FS color monitor ###-###-#### Rivera Alejandro IBM Intellistation MPro ###-###-#### Rizzo Vincent IBM PC300 PL ###-###-#### Rizzo Vincent IBM 17" color monitor ###-###-#### Rizzo Vincent IBM 21" P260 Stealth Black Monitor ###-###-#### Rizzo Vincent IBM Intellistation MPRO Pentium III ###-###-#### Rizzo Vincent IBM 21" P260 stealth black color monitor ###-###-#### Rizzo Vincent IBM Intellistation MPRO Pentium III ###-###-#### Rounds Robert Compaq 17" color monitor ###-###-#### Rounds Robert Compaq Deskpro 4000 ###-###-#### Rumsey Jennifer IBM 17" color monitor ###-###-#### Rumsey Jennifer IBM PC300PL ###-###-#### Sylvester Richard Compaq 17" color monitor ###-###-#### Sylvester Richard Compaq Deskpro 4000 143-4575 Teagan William IBM Thinkpad 720C Transfer to Unit 966- Not In Unit ###-###-#### Thompson Craig Compaq Deskpro 4000 ###-###-#### Thompson Craig IBM PC300PL ###-###-#### Thompson Craig IBM 17" color monitor ###-###-#### UNASSIGNED Compaq Deskpro 6000 ###-###-#### Unassigned AcornPark Compaq Deskpro 4000 LS ###-###-#### Unassigned Unassigned Compaq Armada 4131T ###-###-#### Unassigned Unassigned IBM PC300PL ###-###-#### Unassigned Unassigned IBM 17 color ###-###-#### Unassigned Unassigned IBM Thinkpad 60OX ###-###-#### UNASSIGNED UNASSIGNED Compaq Deskpro 590 (Pentium) 800-3098 UNASSIGNED UNASSIGNED Compaq Armada 1130T ###-###-#### Unassigned Compaq Armada 4131T ###-###-#### UNASSIGNED Compaq Deskpro 4000 ###-###-#### Voduc Vinh IBM Thinkpad ###-###-#### Zhao James Compaq Deskpro 4000 ###-###-#### Zhao James Compaq 17" color monitor ###-###-#### Zhao Jessica IBM Thinkpad 560
NEC Multisync XMz9 Plus V Videoplayer Viewsonic Prof. Svcs. PT813 Monitor Flight Computer (Serial No. #25M1012) H-P LaserJet 4000 printer H-P LaserJet 4000 printer Furniture: Office cubicles Kodak DC 120 Camera Schedule 3.17 ------------- EPYX has limited accounts receivable from ADL for contracts previously identified in Schedule 3.5. Schedule 3.18 ------------- None Schedule 3.19(a) ---------------- See attached Schedule 3.19(a) EPYX Rost For Job Classification and Adjustments
Supervisor Name Name ID No. Hire Date Arthur D. Little Job Title Status Class FT/PT - ---------------- ---------------- ------ --------- ------------------------------ ------ ----- ----- Hand, Mary L Haverly, Alina H 5689 05-May-86 Administrative Assistant A E P Bentley, Jeffrey M Hand, Mary L 8053 28-Mar-77 Business Assistant III A E F Brodsky, Mark Bentley, Jeffrey M. 5675 21-Apr-86 Director A E F Bentley, Jeffrey M Cross III, James C 865 28-Dec-95 Consultant A E F Bentley, Jeffrey M Mitchell, William L 152 06-Mar-95 Senior Consultant A E F Mitchell, William L Landry, Brian P 6446 20-Apr-98 Senior Consultant A E F Chintawar, Prashant Ciotti, Carlo Mario 5307 11-Oct-99 Consultant A E F Chintawar, Prashant Cole, Terence 2996 15-Nov-99 Consultant A E F Chintawar, Prashant Pollica, Darry E 6834 26-May-98 Analyst/RA/Associate A E F Mitchell, William L Goodwin, Marc 4494 24-Jan-00 Consultant A E F Mitchell, William L Morriseau, Brian D 8314 15-Jun-98 Consultant A E F Mitchell, William L Rizzo, Vincent G 513 29-Jun-98 Consultant A E F Mitchell, William L Rounds III, Robert 4880 22-Sep-99 Engineer A E F Mitchell, William L Zhao, Jessica 7490 22-Feb-00 Consultant/Engineer, PSMC A E F Mitchell, William L Hailes, Rebecca 630 20-Mar-00 Consultant A E F Nowicki, Brian J Jamil, Anwar 4042 04-Oct-99 Consultant A E F Nowicki, Brian J Northrop, William F 362 22-Jun-98 Consultant A E F Nowicki, Brian J Rivera, Alejandro 4054 04-Oct-99 Consultant A E F Polveya, Olga Khan, Abdul Raley 1870 10-Aug-98 Consultant A E F Prabhu, Srinivasa Bowers, Brian J 1714 13-Jul-98 Consultant A E F Prabhu, Srinivasa Liu, Holon 4044 11-Oct-99 Consultant A E F Chintawar, Prashani Wiley, Jason 4265 13-Mar-00 new hire A E F Chintawar, Prashani Thompson, Craig 4370 05-Oct-99 Consultant A E F Hagan, Mark Oi, Frank C 7374 04-Jun-98 Consultant A E F Hagan, Mark Zhao, James 6826 31-Jan-00 Manager A E F Mitchell, William L Dorson, Matthew H 8863 09-Mar-98 Consultant A E F Mitchell, William L Noordzij, Bouke 6001 20-Nov-69 Consultant A E F Prabhu, Srinivasa Rumsey, Jennifer W 874 01-Jul-98 Consultant A E F Cross III, James C Chintawar, Prashani 6422 20-Apr-98 Consultant A E F Cross III, James C Haqan, Mark R 5956 28-Jul-97 Consultant A E F Cross III, James C Nowicki, Brian J 607 30-Oct-95 Consultant A E F Cross III, James C Polevaya, Olga 7465 22-Feb-00 Manager, Technology A E F Cross III, James C Woo, Pai-Yung 6916 25-Feb-88 Senior Consultant A E F Mitchell, William L Block, Stephen Gustav 932 22-Jan-96 Consultant A E F Mitchell, William L Prabhu, Srinivasa K 335 03-Nov-97 Consultant A E F Cross III, James C Clawson, Lawrence G 5163 03-Apr-99 Consultant A E F Noordzij, Bouke Boyd, Stephen 4802 24-Jun-99 Lab Tech Group Leader A E F Noordzij, Bouke Sylvester, Richard M 4035 21-Oct-99 Lab Technician A E F Supervisor Name Name New Title Level Date Base Rt US Annual Rt - ---------------- ---------------- ------------------------ ----- --------- ----------- --------- Hand, Mary L Haverly, Alina H Administrative Assistant 01-Jan-01 21.06 32,853.60 Bentley, Jeffrey M Hand, Mary L Business Associate III 01-Apr-00 55,000.00 55,000.00 Brodsky, Mark Bentley, Jeffrey M. Chief Operating Officer 01-Apr-00 150,000.00 150,000.00 Bentley, Jeffrey M Cross III, James C Director, Tech Dev. 01-Apr-00 100,000.00 100,000.00 Bentley, Jeffrey M Mitchell, William L V.P. Engineering 01-Apr-00 130,000.00 130,000.00 Michell, William L Landry, Brian P Engineer 1 01-Apr-00 45,000.00 45,000.00 Chintawar, Prashant Ciotti, Carlo Mario Engineer 2 01-Mar-99 48,000.00 48,000.00 Chintawar, Prashant Cole, Terence Engineer 2 01-Sep-99 56,000.00 56,000.00 Chintawar, Prashant Pollica, Darry E Engineer 2 01-Jun-00 52,000.00 52,000.00 Mitchell, William L Goodwin, Marc Engineer 2 01-Feb-01 52,000.00 52,000.00 Mitchell, William L Morriseau, Brian D Engineer 2 01-Jun-00 61,000.00 61,000.00 Mitchell, William L Rizzo, Vincent G Engineer 2 01-Jul-00 55,000.00 55,000.00 Mitchell, William L Rounds III, Robert Engineer 2 01-Oct-00 61,000.00 61,000.00 Mitchell, William L Zhao, Jessica Engineer 2 01-Mar-01 59,000.00 59,000.00 Mitchell, William L Hailes, Rebecca Engineer 2 01-Apr-01 48,000.00 48,000.00 Nowicki, Brian J Jamil, Anwar Engineer 2 01-Oct-00 50,000.00 50,000.00 Nowicki, Brian J Northrop, William F Engineer 2 01-Jun-00 56,100.00 56,100.00 Nowicki, Brian J Rivera, Alejandro Engineer 2 01-Oct-00 50,000.00 50,000.00 Polveya, Olga Khan, Abdul Raley Engineer 2 01-Aug-00 58,000.00 58,000.00 Prabhu, Srinivasa Bowers, Brian J Engineer 2 01-Jul-00 59,500.00 59,500.00 Prabhu, Srinivasa Liu, Holon Engineer 2 01-Oct-00 60,000.00 60,000.00 Chintawar, Prashani Wiley, Jason Engineer 2 01-Jul-00 53,000.00 53,000.00 Chintawar, Prashani Thompson, Craig Engineer 3 01-Nov-99 66,500.00 66,500.00 Hagan, Mark Oi, Frank C Engineer 3 01-Jun-00 73,500.00 73,500.00 Hagan, Mark Zhao, James Engineer 3 29-Jan-01 75,000.00 75,000.00 Mitchell, William L Dorson, Matthew H Engineer 3 01-Apr-00 66,000.00 66,000.00 Mitchell, William L Noordzij, Bouke Engineer 3 18-Nov-96 61,000.00 61,000.00 Prabhu, Srinivasa Rumsey, Jennifer W Engineer 3 01-Jul-00 61,000.00 61,000.00 Cross III, James C Thompson, Craig Engineering Manager 1 01-Apr-00 61,000.00 61,000.00 Cross III, James C Haqan, Mark R Engineering Manager 1 01-Aug-00 62,000.00 62,000.00 Cross III, James C Nowicki, Brian J Engineering Manager 1 01-Apr-00 72,000.00 72,000.00 Cross III, James C Polevaya, Olga Engineering Manager 1 01-Mar-01 75,000.00 75,000.00 Cross III, James C Woo, Pai-Yung Engineering Manager 1 01-Apr-00 73,150.00 73,150.00 Mitchell, William L Block, Stephen Gustav Engineering Manager 1 01-Apr-00 72,000.00 72,000.00 Mitchell, William L Prabhu, Srinivasa K Engineering Manager 1 01-Apr-00 85,000.00 85,000.00 Cross III, James C Clawson, Lawrence G Principal Engineer 01-Mar-00 113,000.00 113,000.00 Noordzij, Bouke Boyd, Stephen Lab Tech Group Leader 2 01-Feb-01 50,000.00 50,000.00 Noordzij, Bouke Sylvester, Richard M Technician 2 01-Oct-99 45,000.00 45,000.00 Supervisor Salary Position Event IC Name Name Adjustment in Range Target Comments - ---------------- ---------------- ---------- ---------- -------- ------------------------ Hand, Mary L Haverly, Alina H 5% Bentley, Jeffrey M Hand, Mary L 5% Brodsky, Mark Bentley, Jeffrey M. 0% 40% Bentley, Jeffrey M Cross III, James C 120,000.00 -33% 35% Bentley, Jeffrey M Mitchell, William L 140,000.00 -20% 35% Michell, William L Landry, Brian P 17% 10% Chintawar, Prashant Ciotti, Carlo Mario 52,000.00 0% 10% Chintawar, Prashant Cole, Terence 17% 10% Compression noted Chintawar, Prashant Pollica, Darry E 0% 10% Mitchell, William L Goodwin, Marc 0% 10% Mitchell, William L Morriseau, Brian D 39% 10% Mitchell, William L Rizzo, Vincent G 13% 10% Mitchell, William L Rounds III, Robert 39% 10% Mitchell, William L Zhao, Jessica 10% Mitchell, William L Hailes, Rebecca 52,000.00 0% 10% Nowicki, Brian J Jamil, Anwar 52,000.00 0% 10% Nowicki, Brian J Northrop, William F 18% 10% Nowicki, Brian J Rivera, Alejandro 52,000.00 0% 10% Polveya, Olga Khan, Abdul Raley 26% 10% Prabhu, Srinivasa Bowers, Brian J 33% 10% Prabhu, Srinivasa Liu, Holon 35% 10% Chintawar, Prashani Wiley, Jason 4% 10% Chintawar, Prashani Thompson, Craig 22% 15% Hagan, Mark Oi, Frank C 45% 15% Hagan, Mark Zhao, James 9% 15% Reclassified as Engineer Mitchell, William L Dorson, Matthew H 20% 15% Mitchell, William L Noordzij, Bouke 3% 15% Prabhu, Srinivasa Rumsey, Jennifer W 3% 15% Cross III, James C Thompson, Craig 27% 15% Cross III, James C Haqan, Mark R 72,000.00 0% 15% Cross III, James C Nowicki, Brian J 0% 15% Cross III, James C Polevaya, Olga 9% 15% Cross III, James C Woo, Pai-Yung 3% 15% Mitchell, William L Block, Stephen Gustav 0% 15% Mitchell, William L Prabhu, Srinivasa K 39% 15% Cross III, James C Clawson, Lawrence G 54% Noordzij, Bouke Boyd, Stephen 47% Noordzij, Bouke Sylvester, Richard M 18%
Contractors/Convserion Candidates Supervisor Name Name ID No. Hire Date Arthur D. Little Status Class FT/PT - ---------------- ---------------- ------ --------- ------------------------ ------ ----- ----- Nowicki, Brian J Wersinger, Yvonne Contractor Mitchell, William L Hottle, David Contractor Mitchell, William L Swavely, Donald Contractor Mitchell, William L DiPietro, Roger Contractor Mitchell, William L Kleeberg, Gunther Contractor Chintawar, Prashani Hansen, Wesley part time Nowicki, Brian J Smith, Alexis Contractor Mitchell, William L Hardy, Richard Contractor Prabhu, Srinivasa Batal, John Contractor Mitchell, William L Mosher, Paul Contractor Mitchell, William L Hill, Steven Contractor Mitchell, William L Wright, Fred Contractor Mitchell, William L Longo, Nathan Contractor who? Rindone, Michael Contractor Prabhu, Srinivasa Celona, John Contractor Supervisor Name Name New Title Level Review Date Base Rt US Annual Rt - ---------------- ---------------- ------------- ----- ----------- ----------- --------- Nowicki, Brian J Wersinger, Yvonne Designer 1 43 69,440.00 Mitchell, William L Hottle, David Designer 2 68.6 121,680.00 Mitchell, William L Swavely, Donald Designer 2 63 131,040.00 Mitchell, William L DiPietro, Roger Engineer 2 75 166,000.00 Mitchell, William L Kleeberg, Gunther Engineer 2 80 166,400.00 Chintawar, Prashani Hansen, Wesley Engineer 2 18 16,720.00 Nowicki, Brian J Smith, Alexis Engineer 3 49 101,920.00 Mitchell, William L Hardy, Richard Engineer 3 48 99,640.00 Prabhu, Srinivasa Batal, John Engineer 3 60 52,000.00 Mitchell, William L Mosher, Paul Recruiter 60 124,800.00 Mitchell, William L Hill, Steven Technician 1 29 30,160.00 Mitchell, William L Wright, Fred Technician 1 27.63 57,470.40 Mitchell, William L Longo, Nathan Technician 2 65 136,200.00 who? Rindone, Michael Technician 2 46 93,600.00 Prabhu, Srinivasa Celona, John Technician 2 17 17,680.00 Supervisor Salary Position Event IC Name Name Adjustment in Range Target Comments - ---------------- ---------------- ---------- ---------- -------- ------------------------- Nowicki, Brian J Wersinger, Yvonne Epyx conversion candidate Mitchell, William L Hottle, David Epyx conversion candidate Mitchell, William L Swavely, Donald Epyx conversion candidate Mitchell, William L DiPietro, Roger Epyx conversion candidate Mitchell, William L Kleeberg, Gunther Chintawar, Prashani Hansen, Wesley Nowicki, Brian J Smith, Alexis Epyx conversion candidate Mitchell, William L Hardy, Richard Epyx conversion candidate Prabhu, Srinivasa Batal, John Epyx conversion candidate Mitchell, William L Mosher, Paul Mitchell, William L Hill, Steven Epyx conversion candidate Mitchell, William L Wright, Fred Epyx conversion candidate Mitchell, William L Longo, Nathan who? Rindone, Michael Epyx conversion candidate Prabhu, Srinivasa Celona, John Epyx conversion candidate
Schedule 3.19(b) ---------------- ADL has a severance policy for its employees. Schedule 6.3 ------------ Contracts included in Schedule 3.5 in which the contract rights and obligations - ------------------------------------------------------------------------------- are not transferable, but EPYX shall receive the benefits and burdens of such - ----------------------------------------------------------------------------- contracts and agreements: - ------------------------- "DOE Contract No. DE-FC02-99EE50580 dated July 21, 1999 issued to Arthur D. Little, Inc., titled Development of Fuel Processor, Durability Demonstration and lOkW" "Subcontract Agreement dated November 21, 1997 between Plug Power, LLC and Arthur D. Little, Inc. under DOE Contract No. DE-FC02-97EE50472" Excluded Contracts: - ------------------- "Design of a 50 kW Stationary PEMEFC System" "Design of next generation of PEMFC stacks with clearly superior hydrogen utilization" Schedule 4.5 - Material Contracts ------------------ Schedule 4.5 4.5/1 DNFC LIST OF LEASE/TEST AGREEMENTS as of March 30th, 2000
- ---------------------------------------------------------------------------------------------------------------------------------- LEASE EXPIRY DATE CLIENT SCOPE OF SUPPLY SIGNATURE DATE (depends on delivery date) - ---------------------------------------------------------------------------------------------------------------------------------- DLR - Germany Test for 5 kW stack 03/04/96 24/10/99 - ---------------------------------------------------------------------------------------------------------------------------------- ESKOM (S. Africa) Test/Lease for 1.8kW stack 06/08/98 03/06/00 - ---------------------------------------------------------------------------------------------------------------------------------- VOLVO (S) Test/Lease for 1OkW stack 03/06/98 25/06/00 - ---------------------------------------------------------------------------------------------------------------------------------- RENAULT - Direction de la 3x 1OkW FEVER project 2 delivered on 28/10/98 19/6/92 Recherche - France and 1 del. on 28/10/96 - ---------------------------------------------------------------------------------------------------------------------------------- RENAULT - Direction de La Lease of no 1 additional stack tot 10 kW same delivered 2/6/98 02/06/00 Recherche - France condition as lease contract FEVER - ---------------------------------------------------------------------------------------------------------------------------------- RENAULT - Direction de la 1 kW stack delivered to Ecole de Mines delivered Febr. 95 Febr. 97 Recherche - France - ---------------------------------------------------------------------------------------------------------------------------------- TNO - Nederland Test/Lease for 1 kW stack 31/12/96 31/12/98 - ---------------------------------------------------------------------------------------------------------------------------------- ABB - Switzerland Test/Lease for 1.5 kW stack 22/10/98 19/01/01 EVC = 02/11/98 - ---------------------------------------------------------------------------------------------------------------------------------- POWER COMPUTING Test/Lease for 0.84 kW stack 07/08/98 26/09/01 SOLUTION - USA - ---------------------------------------------------------------------------------------------------------------------------------- ESORO AG Lease of 8,3kW stack 25/02/00 3 years from date of supply - ----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------- LEASE CLIENT EXTENSIONS - ------------------------------------------------- DLR - Germany 30/06/00 - ------------------------------------------------- ESKOM (S. Africa) - ------------------------------------------------- VOLVO (S) - ------------------------------------------------- RENAULT - Direction de la 31/07/00 Recherche - France - ------------------------------------------------- RENAULT - Direction de la 31/07/00 Recherche - France - ------------------------------------------------- RENAULT - Direction de la 31/07/00 Recherche - France - ------------------------------------------------- 31/12/99 then TNO - Nederland 31/12/00 - ------------------------------------------------- ABB - Switzerland - ------------------------------------------------- POWER COMPUTING SOLUTION - USA - ------------------------------------------------- ESORO AG - -------------------------------------------------
4.5/1 DNFC LIST OF LEASE/TEST AGREEMENTS, supply of stacks free of charge as of March 30th, 2000 - ----------------------------------------------------------------------------------------------------------------------------- LEASE CLIENT SCOPE OF SUPPLY SIGNATURE DATE EXPIRY DATE EXTENSIONS - ----------------------------------------------------------------------------------------------------------------------------- AIR LIQUIDE - France Ex stack COVAL-6.5kW for test free of charge Addendum of 5/l/99 31/10/99 30/04/00 to MOU of 7/5/98 - ----------------------------------------------------------------------------------------------------------------------------- CNR - Italy Test for prototypal fc stack for direct 23/11/99 01/12/00 methanol - -----------------------------------------------------------------------------------------------------------------------------
Schedule 4.5 4.5/2 DNFC LIST OF SALE AND NON DISCLOSURE AGREEMENTS - As of March 30th, 2000
- ---------------------------------------------------------------------------------------------------------------- CLIENT SCOPE OF SUPPLY SIGNATURE DATE - ---------------------------------------------------------------------------------------------------------------- I HR (D) NO 3 prototypes stack 55kW 01/09/98 - ---------------------------------------------------------------------------------------------------------------- CENTRO RICERCHE. FIAT n 1 stack 5kW 08/06/99 (I) - ---------------------------------------------------------------------------------------------------------------- AIR LIQUIDE n. 1 stack 5 kw (AL) 10/11/99 --------------------------------------------------- (F) 120 kW nominal power stacks (MAN) --------------------------------------------------- n.2 stacks 5kW (CSIRO) --------------------------------------------------- n.1 stack 1 kW ~CSIRO) --------------------------------------------------- n.1 stack 0.35 kW (FANTASSIN) - ---------------------------------------------------------------------------------------------------------------- DLR (D) 0,15kW stack covered by amendment n.2 to 25/11/99 the Agreement of 03/04/96 - ---------------------------------------------------------------------------------------------------------------- DLR (D) 2,2kW stack covered by amendment n.3 to the 04/02/00 Agreement of 03/04/96 - ---------------------------------------------------------------------------------------------------------------- CELLEX Power n. 3 stack, 2 kW total 01/01/00 Prod.(Canada) - ---------------------------------------------------------------------------------------------------------------- FUELCELL PROPULSION INSTITUTE nr.2 FC stacks - l4kW total 04/02/00 - ---------------------------------------------------------------------------------------------------------------- Agreement signed De Nora North America 4,6kW stack for NPS (Sandia National between DNNA and Laboratories) NPS - ----------------------------------------------------------------------------------------------------------------
Schedule 4.5 4.5/3 Ongoing purchase orders for PEM stacks as of March 30th, 2000
- ----------------------------------------------------------------------------------------------------------------------------------- CLIENT SCOPE OF SUPPLY ORDER DATE ORDER VALUE EUROS TYPE - ----------------------------------------------------------------------------------------------------------------------------------- ESORO AO 8,3kW slack 15/03/00 EURO 44.700 44.700 Lease, see Sch. 4.5/1 - ----------------------------------------------------------------------------------------------------------------------------------- Northwest Power Systems - USA 2xO.5kW and 8xlkW stacks 13/03/00 USD 149.000 148.362 Sale b) - ----------------------------------------------------------------------------------------------------------------------------------- Volkswagen AO - Germany n. 4 stacks for a total of 5OkW 31/01/00 EUROS 325.000 325.000 Sale b) - ----------------------------------------------------------------------------------------------------------------------------------- REGIENOV - France n.2 stacks. lkW each 28/01/00 FRF 590,000 89.946 Sale a) - ----------------------------------------------------------------------------------------------------------------------------------- De Nora S.p.A. - Italy Hardware and services for Y2K 23/12/99 ITL 37.700.000 19.470 Sale - ----------------------------------------------------------------------------------------------------------------------------------- Fuelcell Propulsion Institute - USA n. 2 stack for a total of l4kW 22/12/99 USD 96.400 95.987 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- REGIENOV - France 5kW stack 16/12/99 FRF 217.122 33.100 Lease c) - ----------------------------------------------------------------------------------------------------------------------------------- AIR LIQUIDE - France n. 2 stack for a total of 11 kW 01/12/99 EUROS 69.500 69.500 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- DLR - Germany 0, 15 kW stack 24/11/99 EUROS 4.650 4.650 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- DLR - Germany 2,2 kW stack 24/11/99 EUROS 30.960 30.960 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- REGIENOV - France n. 1 MEA 03/11/99 FRP 2.191 334 Sale - ----------------------------------------------------------------------------------------------------------------------------------- Cellex Power Prod. - Canada n. 3 stacks for a total of 2kW 03/11/99 USD 69.000 68.705 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- DE NORA NORTH AMERICA - USA 4,6kW stack for NPS (Sandia National Laboratories) 06/l0/99 USD 34.500 34.352 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- Northwest Power Systems - USA n. 20 stacks (1 free of charge) 30/11/98 (21 stacks), 4,6 kW modified on 27/9/99 (20 USD 365.000 363.437 Sale stacks) - ----------------------------------------------------------------------------------------------------------------------------------- CRF (Centro Ricerche Fiat) - Italy 5kW stack 23/03/99 EUROS 41.316 41.316 Sale see Sch. 4.5/2 - ----------------------------------------------------------------------------------------------------------------------------------- Volkswagen AG - Germany 5kW High temperature stack. Covered by R&D cooperation 04/05/98 ITL 570.000.000 294.380 R&D, see agreement of 14/04/99 Sch 4.5/5 - ----------------------------------------------------------------------------------------------------------------------------------- Exchange votes: - -------------------------------------------------------------------------------------------------------------------- USD - EUROS 1,0043 - -------------------------------------------------------------------------------------------------------------------- FRF - EUROS 6,5595 - -------------------------------------------------------------------------------------------------------------------- ITL - EUROS 1936,27 - --------------------------------------------------------------------------------------------------------------------
Notes: a) Part of the feasibility study contract, under discussion b) Sale Contract under discussion c) Lease contract under discussion Schedule 4.5 4.5/4 DNFC LIST OF SECRECY AGREEMENTS as of March 30th, 2000
- ------------------------------------------------------------------------------------------------------------------------------------ EXPIRY DATE OF SECRECY CLIENT TYPE OF AGREEMENT SIGNATURE DATE OBBLIGATIONS Contact Expiry date - ------------------------------------------------------------------------------------------------------------------------------------ JOHNSON MATTHEY - Great Britain Electrodes test 23/03/93 23/03/03 23/03/03 - ------------------------------------------------------------------------------------------------------------------------------------ ARMINES Ecole des Mines - France Development of mathematical 07/04/94 07/04/09 = fluidodynamic model - ------------------------------------------------------------------------------------------------------------------------------------ TNO - ROYAL NAVY - The Nederlands Fuel Cell technology 06/10/94 06/10/14 06/10/09 - ------------------------------------------------------------------------------------------------------------------------------------ RENAULT - France FEVER Project (3 x 10kW FC stack) 21/11/94 31/12/06 31/07/00 - ------------------------------------------------------------------------------------------------------------------------------------ GORE W.L. - Germany membrane development and testing 03/02/95 02/02/00 02/02/1998 extended up to 2/2/00 - ------------------------------------------------------------------------------------------------------------------------------------ JOHNSON MATTHEY - Great Britain GDE electrodes 23/02/96 23/02/06 23/02/06 - ------------------------------------------------------------------------------------------------------------------------------------ SORAPEC - France Membrane MEA 26/02/96 26/02/07 26/02/97 - ------------------------------------------------------------------------------------------------------------------------------------ Mr. Patrik Grace - France Info on FEVER project 03/06/96 03/06/06 03/06/06 - ------------------------------------------------------------------------------------------------------------------------------------ Du Pont - France MEA and membrane development 02/07/96 02/07/01 02/07/97 and testing - ------------------------------------------------------------------------------------------------------------------------------------ SCANIA CV AB - Sweden, Arthur Membrane fuel cells and 11/09/96 11/09/01 11/09/01 D. Little - Mr. Bentley their application - ------------------------------------------------------------------------------------------------------------------------------------ TNO - The Nederlands bipolar plates - TNO polymer development 15/10/96 15/10/01 15/10/01 - ------------------------------------------------------------------------------------------------------------------------------------ HH ENERGIE - France Non exclusive cooperation on 20/12/96 01/07/09 20/12/99 development of GEN-SET based on FC technology - ------------------------------------------------------------------------------------------------------------------------------------ Etievant Claude - CIEE - France Patent application on H2 generator 05/02/97 05/02/00 - ------------------------------------------------------------------------------------------------------------------------------------ HOECHST (Aventis) - Germany MEA and membrane development 23/04/97 23/04/03 23/04/98 and testing - ------------------------------------------------------------------------------------------------------------------------------------ FuMA-Tech - Germany membrane development/testing 28/01/98 31/12/06 31/12/98 - ------------------------------------------------------------------------------------------------------------------------------------ Air Liquide - France Non Disclosure Agreement before 30/01/98 30/01/10 30/01/00 signature of MOU[Bs - ------------------------------------------------------------------------------------------------------------------------------------ E-TEK - USA on CNR information on Gas 24/02/98 24/02/03 24/02/03 Diffusion Electrodes - ------------------------------------------------------------------------------------------------------------------------------------ VAILLANT - Germany Info on development strategy 15/05/98 15/05/05 15/05/00 - ------------------------------------------------------------------------------------------------------------------------------------ ENI - Italy Secrecy agreement for valuation 01/07/98 01/07/08 01/07/99 for further cooperation - ------------------------------------------------------------------------------------------------------------------------------------ H POWER Corp. - USA for visiting the Company 03/12/98 03/12/06 03/12/01 - ------------------------------------------------------------------------------------------------------------------------------------ International Fuel Cells - USA for visiting the Company 04/12/98 04/12/04 04/12/99 - ------------------------------------------------------------------------------------------------------------------------------------ MIRANE - Mr. Kimoto - Glappone Membrane 07/12/98 07/12/09 07/12/99 - ------------------------------------------------------------------------------------------------------------------------------------ PSA PEUGEOT CITROEN - RENAULT Fuel Cells system and fuel 15/12/98 15/12/04 15/12/99 extended (GIE) - France feedings Phase O to 15/12/2000 - ------------------------------------------------------------------------------------------------------------------------------------ MANNESMANN - Germany Evaluation for possible future cooperation 30/12/98 30/12/11 30/12/01 - ------------------------------------------------------------------------------------------------------------------------------------ NITECH - France Visit c/o NITECH 31/03/99 not defined - ------------------------------------------------------------------------------------------------------------------------------------ GMITROVIC - Australia Production of Hydrogen 14/04/99 14/04/05 14/04/00 - ------------------------------------------------------------------------------------------------------------------------------------ Air Liquide - France Confidentiality Agreement 22/07/99 22/07/04 22/07/00 - ------------------------------------------------------------------------------------------------------------------------------------ NISSAN MOTOR Co. Ltd. - Japan Non Disclosure Agreement for a 29/11/99 29/11/05 29/11/00 joint program incorporating DNFC and NISSAN technology - ------------------------------------------------------------------------------------------------------------------------------------ VEBA OEL, + BUDERUS - Germany FC applications for stationary 08/12/99 08/12/10 08/12/00 power and heat generation - ------------------------------------------------------------------------------------------------------------------------------------ NORTHWEST POWER SYSTEMS - USA Confidentiality Agreement between 17/12/99 17/12/05 17/12/00 NPS - NORFIN - DNFC. Corporate development and other strat. issues - ------------------------------------------------------------------------------------------------------------------------------------ EAGLE PICHER - USA Confidentiality Agreement between 20/12/99 20/12/05 20/12/00 EP - NORFIN - DNFC - ------------------------------------------------------------------------------------------------------------------------------------ ARTHUR D. LITTLE - USA Confidentiality Agreement between 22/12/99 22/12/05 22/12/00 ADL - NORFIN - DNFC - ------------------------------------------------------------------------------------------------------------------------------------ ASAHI GLASS Co. Ltd. - Japan cooperation for a joint evaluation 16/02/00 16/02/05 16/02/02 program of a system incorporating DNFC technology and AOC technology - ------------------------------------------------------------------------------------------------------------------------------------ ELEVISTA BRANDING + COMMUNICATIONS Confidentiality Agreement To 15/03/00 15/03/05 = collect confidential Information relating DNFC to be used to prepare a branding and communication campaign - ------------------------------------------------------------------------------------------------------------------------------------
Schedule 4.5
- ------------------------------------------------------------------------------------------------------------------------------------ EXPIRY DATE EXPIRY DATE OF CLIENT TYPE OF AGREEMENT SIGNATURE SECRECY DATE OBBLIGATIONS - ------------------------------------------------------------------------------------------------------------------------------------ VOLKSWAGEN - Germany Research and development project contract. Development of 31/1/99; 31/5/99; 5kW high temperature stack for automotive applications 14/04/98 31/8/99; 31/12/99 31/08/02 - ------------------------------------------------------------------------------------------------------------------------------------ GORE W.L. - Germany Optimization of membrane for DN stacks. Non exclusive 16/04/00 cooperation for membrane testing. 16/04/97 16/04/01 16/04/03 - ------------------------------------------------------------------------------------------------------------------------------------ AIR LIQUIDE - France Memorandum of understanding for a non-exclusive cooperation for the development of modules based on FC 26/06/98 26/06/01 26/06/11 - ------------------------------------------------------------------------------------------------------------------------------------ 04/03/00; DLR - Germania Supply and testing of DN ELATs 04/03/97 31/12/00 by 31/12/10 mutual agreement - ------------------------------------------------------------------------------------------------------------------------------------
Schedule 4.5
4.5/6 LIST OF SIGNED EUROPEAN PROGRAMS as of March 30th, 2000 - ---------------------------------------------------------------------------------------------------------------------------------- CONTRIBUTION CONTRIBUTION CONTRACTING PARTIES RECEIVED UP UP TO PROJECT TITLE DURATION TOTAL CONTRIBUTION TO 30/03/00 CONTRACT EXPIRY CONTRACT NUMBER (EUROS) (EUROS) (EUROS) - ---------------------------------------------------------------------------------------------------------------------------------- BIOETHANOL FHG.ISE Fraunhofer-Gesellschaft. JOR3-CT97-0174 Universitat Gesamthochschule Duisburg-DNFC 01/12/97-31/05/00 41.987 18.983 - ---------------------------------------------------------------------------------------------------------------------------------- FC-STAT Air Liquide-Schneider Electric-CEA EI 174/97 FR/IT Commissariat a l'Energie Atomique DNFC 01/09/97-31/08/00 560.020 186.046 - ---------------------------------------------------------------------------------------------------------------------------------- FC-BUS Air Liquide-Scania-SAR-Universita di 01/05/96-31/12/00 JOE3-CT96-0043 Genova-DNFC 01/01/99-31/12/00 473.940 225.524 - ---------------------------------------------------------------------------------------------------------------------------------- HIM CNRS LAMMI-Universita di Perugia- BRPR-CT97-0408 University of Strathclyde-ISRIM-SORAPEC- FuMA-Tech-DNFC 01/06/97-30/06/00 106.932 58.676 - ---------------------------------------------------------------------------------------------------------------------------------- HYDRO-GEN GIE PSA PEUGEOT CITROEN-Air Liquide-CEA JOB3-CT-95-0013 Commissariat a l'Energie Atomique-GIE RENAULT-DNFC 01/01/96-30/06/00 925.000 848.947 - ---------------------------------------------------------------------------------------------------------------------------------- NEMECEL SRTI-THOMSON-CSF-DNFC-SOLVAY-GIE PSA JOE3-CT97-0063 PEUGEOT CITROEN 01/12/97-31/12/01 604.500 223.944 - ---------------------------------------------------------------------------------------------------------------------------------- VELAPAC CNIM-AIR LIQUIDE-DNFC 01/01/99-1/07/01 164.000 54.393 TR193/98/FR/IT/FR - ---------------------------------------------------------------------------------------------------------------------------------- PEM-ED 917FSG ERK FUMA-TECH-CNRS.LAMMI-CNR.ITAE-Univ. of 01/04/00-01/04/04 120.00 - 6-CT-199-00025 of Strathclyde-Univ. degli studi di Perugia-EDF-SEFAR AG-IFEO.TE-DNFC - ---------------------------------------------------------------------------------------------------------------------------------- FIRST 916AMS-ERK Alcatel-Air Liquide-FHG.ISE-CIEMAT.CF- 01/03/00-01/04/03 85.500 - 6-CT 1999-000018 DNFC-WUEL.PD-CSIC - ---------------------------------------------------------------------------------------------------------------------------------- Totals (EUROS) 3.081.879 1.616.513 =========================================================================
Schedule 4.5 4.5/7 List of on-going issued purchase orders for raw materials and equipment
- ------------------------------------------------------------------------------------------------------------------------- Order Date number Supplier Description Sale amount - ------------------------------------------------------------------------------------------------------------------------- 19/01/98 990005 STELAR data acquisition system 15.200.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 23/04/99 990007 AVENTIS 80 MEA-HT 21.600 US $ - ------------------------------------------------------------------------------------------------------------------------- 14/05/99 990008 HONEYWELL Updating control system 34.280.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 07/05/99 990009 I.CO.M Gas Manifolds 52.000.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 19/07/99 990017 DNNA electrodes 56.440 US $ - ------------------------------------------------------------------------------------------------------------------------- 19/07/99 990026 DNNA electrodes 112.880 US $ - ------------------------------------------------------------------------------------------------------------------------- 17/09/99 990027 DNNA electrodes 112.880 US $ - ------------------------------------------------------------------------------------------------------------------------- 19/07/99 990036 DNNA electrodes 4.288,5 US $ - ------------------------------------------------------------------------------------------------------------------------- 10/11/99 990052 RENEWABLE ENERGY WORD advertisement 7.000 Lgs. - ------------------------------------------------------------------------------------------------------------------------- 10/05/99 990053 W.L. GORE & ASS. PRIMEA MEA 17.825,95 US $ - ------------------------------------------------------------------------------------------------------------------------- 09/02/00 00/0022 TECNOMECCANICA Die 24.250.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 22/02/00 00/0024 DELCHIMICA SCIENTIFICA GLASSWARE Sprayer nozzle 525.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 28/02/00 00/0026 Amboldi hollow punch 4.822.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 02/03/00 00/0029 SYCON MS Project 98 772.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 08/03/00 00/0032 TECNOMECCANICA Endplates 2.950.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 08/03/00 00/0033 DNNA Catalysts, Carbon cloth, ELAT 11.664,8 US $ - ------------------------------------------------------------------------------------------------------------------------- 08/03/00 00/0034 IKD Electric resistance and Temperature controllers 1.110.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 08/03/00 00/0035 DNNA ELAT Electrodes AUTOMATED PRODUCTION 12.943,3 US $ - ------------------------------------------------------------------------------------------------------------------------- 08/03/00 00/0037 DNNA ELAT Electrodes for PSA/PEUGEOT 240 US $ - ------------------------------------------------------------------------------------------------------------------------- 09/03/00 00/0038 GORE Membrane 11.542,5 US $ - ------------------------------------------------------------------------------------------------------------------------- 14/03/00 00/0039 ING. SALTINI A. & V.L. Snc Insulating mechanical components 480.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 17/03/00 00/0042 AMBOLDI hollow punch 350.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 17/03/00 00/0043 VAILATI Connectors 3.910.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 17/03/00 00/0044 TECNOMECCANICA Assembly equipments details 3.620.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 17/03/00 00/0045 FOPLAST Fuel Cells gaskets 9.800.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 20/03/00 00/0046 KAISER + KRAFT Tools for production site 4.111.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 23/03/00 00/0047 EMPRISE CORP. Heat Wheel 2.000 US $ - ------------------------------------------------------------------------------------------------------------------------- 23/03/00 00/0048 TECNOMECCANICA Mechanical components 800.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 29/03/00 00/0049 LA GALVANO Thermal treatment on current collectors 3.000.000 Lit. - ------------------------------------------------------------------------------------------------------------------------- 29/03/00 00/0050 RAYTECH sheath for tie-rods 757.520 Lit. - -------------------------------------------------------------------------------------------------------------------------
Schedule 4.6 - Intellectual Property --------------------- Agreements entered with the EUROPEAN COMMUNITY represented by the Commission of the European Communities
- ------------------------------------------------------------------------------------------------------------------ Contractors Object Commencement Termination Date - ------------------------------------------------------------------------------------------------------------------ FHG.ISE Fraunhofer- Gesellschaft - Universitat BIOETHANOL 909 FFG - Contract 01/12/1997 31/05/2000 Gesamthochschule Duisburg JOR3CT970174 - - - DN - ------------------------------------------------------------------------------------------------------------------ Air Liquide - Schneider FC STAT 910 AWF Electric - CEA Contract STAT - EI-1 74-97-FR-IT 01/09/1997 31/08/2000 Commissariat a l'Energie Hydrogen recovery for stationary Atomique - DN applications - ------------------------------------------------------------------------------------------------------------------ ANSALDO - DN - NEOPLAN - S.A.R. - Air FC-BUS 906 ASF -E59 NEOPL Liquide - Universita di Contract E90JOE3-CT96-0043 25/04/1996 31/12/2000* Genova - ------------------------------------------------------------------------------------------------------------------ FC-BUS Air Liquide - DN - Neoplan Amendment 1 to FC-BUS 906 ASF Extended to - - SAR - Universita di -E59 NEOPL - Contract 07/04/1998 31/12/2000* Genova E90JOE3-CT96-0043 ANSALDO withdrawal - ------------------------------------------------------------------------------------------------------------------ FC-BUS, Air Liquide - DN - Neoplan Amendment 2 to FC-BUS 906 ASF 31/05/1999 31/12/2000 - - SAR - Universita di -E59 NEOPL - Contract Genova E90JOE3-CT96-0043 Extension of Project to 31/12/2000* - ------------------------------------------------------------------------------------------------------------------ Air Liquide - DN - SAR - FC-BUS - Amendment 3 to 23/07/1999 31/12/2000 Universita di Genova - Contract JOE3CT960043 Scania - ------------------------------------------------------------------------------------------------------------------ CNRS LAMMI - Universita di Perugia - University of HIM 907 MMF - Strathclyde - ISRIM - Contract BRPR-CT97-0408 14/05/1997 30/06/2000 SORAPEC -DN - FuMA- Hybrid Ionomeric Membrane Tech - ------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------- Contractors Object Commencement Termination Date - ----------------------------------------------------------------------------------------------------------------------- CNRS LAMMI - Universita di Perugia - University of HIM 907 MMF Strathclyde - ISRIM - Consortium Agreement for 19/01/1998 30/06/2000 SORAPEC - DN - FuMA- Contract BRPR-CT97-0408 -E65 Tech - Hybrid Ionomeric Membrane - - ----------------------------------------------------------------------------------------------------------------------- GIE PSA Peugeot Citroen - Ansaldo - CEA HYDRO-GEN 905 PVF Commissariat a I'Energie Contract JOD-CT95-0013 06/12/1995 29/12/2000* Atomique - DN - GEE Renault - Solvay - ----------------------------------------------------------------------------------------------------------------------- GEE PSA Peugeot Citroen - HYDRO-GEN 905 PVF CEA Commissariat a Amendment 1 to I'Energie Atomique - DN - Contract JOE3-CT95-0013 29/12/1997 30/06/2000 GIE Renault - Solvay Ansaldo withdrawal Air Liquide Air Liquide takes over task Extension to 30/6/2000* - ----------------------------------------------------------------------------------------------------------------------- SRTI SYSTEM - THOMSON- DN - NEMECELL 908 SPF - SOLVAY - GIE PSA Contract JOE3-CT97-0063 01/12/1997 30/11/2001 Peugeot Citroen (low cost direct methanol) - ----------------------------------------------------------------------------------------------------------------------- SRTI SYSTEM - NEMECEL 908 SPF THOMSON- DN - Amendment 1 to Contract 17/04/1998 01/12/2001 SOLVAY - GIE PSA JOR3CT970063: UPIS substituted Peugeot Citroen by CNRS - ----------------------------------------------------------------------------------------------------------------------- SRTI SYSTEM - NEMECEL 908 SPF THOMSON- DN - Amendment 2 to Contract 11/11/1999 01/12/2001 SOLVAY - GIE PSA JOE3CT970063: SRTL SODETEC Peugeot Citroen and SOGELERG merge in SODETEC - approval by DN - ----------------------------------------------------------------------------------------------------------------------- SRTI SYSTEM - NEMECEL 908 SPF THOMSON-DN- Consortium Agreement for 19/11/1997 01/12/2001 SOLVAY - GEE PSA Contract JOE3CT970063 Peugeot Citroen - ----------------------------------------------------------------------------------------------------------------------- CNIM - DN - AIR VELAPAC 912 CTF LIQUIDE - CONTRACT TR 193/98 01/01/1999 01/08/2001 - ----------------------------------------------------------------------------------------------------------------------- Alcatel -Air Liquide - FHG.ISE - CIEMAT.CF - FIRST 916-AMS - ERK 6-CT-1999- DNFC - WUEL.PD - CSIC 00018 01/03/2000 01/04/2003 - -----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------- Contractors Object Commencement Termination Date - ----------------------------------------------------------------------------------------------------------------- FUMA-TECH - CNRS.LAMMI- PEM-ED 917FSGERK6-CT-1999- CNR-ITAE- - Univ. of 00025 01/04/2000 01/04/2004 Strathclyde - Univ. degli studi di Perugia - EDF - SEFAR AG - IFEO.TE - DNFC - - -----------------------------------------------------------------------------------------------------------------
Association Agreements entered with ENEA (National Agency for Alternative Energy)
- ------------------------------------------------------------------------------------------- Description Date of Termination of Termination of signature contractual Secrecy obligations Obligations - ------------------------------------------------------------------------------------------- Development of fuel cell stack (10 kW) 23/12/1987 22/06/1993 22/10/2008 - ------------------------------------------------------------------------------------------- Development of fuel cell stack for 05/09/1995 31/12/1997 electric transport and hybrid systems - ------------------------------------------------------------------------------------------- Hydrogen Generator - Program : ENEA 3 31/10/1997 30/06/1999 21/03/2007 - -------------------------------------------------------------------------------------------
Schedule 4.11 - Financial Statements -------------------- De Nora Fuel Cells S.p.A. Balance Sheet as at 31.12.99 - ------------------------------------------------------------------------ Assets Lit./ML Euro*000 - ------------------------------------------------------------------------ Intangible fixed assets 102 53 Tangible fixed assets 1.370 708 Long term receivables 25 13 Total fixed assets 1.497 773 Inventory 1.211 625 Trade receivables 2.523 1.303 Trade receivables / Group 76 39 Other debtors 74 38 Cash and bank 36 19 Total current assets 3.920 2.025 Prepaid expenses & accrued income 1 1 Total Assets 5.418 2.798 - ------------------------------------------------------------------------ - ------------------------------------------------------------------------- Net Worth and liabilities Lit./ML Euro*000 - ------------------------------------------------------------------------- Share capital 400 207 Share premium 1.130 584 Legal reserve 48 25 Other reserve 259 134 Result for the period (384) (198) Net Worth 1.453 750 Provisions for liabil.&charges 0 0 Retirement allowance 398 206 Loans from affiliated companies 1.050 542 Long term liabilities 1.448 748 Payments on account 687 355 Trade creditors 861 445 Trade creditors / Group 646 334 Other creditors 174 90 Current liabilities 2.368 1.223 Deferred income & accrued liab. 149 77 Total Net Worth & Liabilities 5.418 2.798 - ------------------------------------------------------------------------- De Nora Fuel Cells S.p.A. Statement of income - ------------------------------------------------------------------------ 1.10.99 - 31.12.99 Lit./ML Euro*000 - ------------------------------------------------------------------------ Sales 205 106 Lease 53 27 Research contributions 202 104 Variation in stocks of finished goods & wip 34 18 Production value 494 255 Cost of raw materials & consumables (306) (158) Service charges (329) (170) Entitlement of minority goods (32) (17) Personnel costs (286) (148) Depreciations and devaluations (78) (40) Variation in stocks of raw materials 246 127 Production costs (785) (405) Operating result (291) (150) Net financial income (charges) (14) (7) Net extraordinary income (charges) (79) (41) Result before income taxes (384) (198) Income taxes 0 0 Result for the year (384) (198) - ------------------------------------------------------------------------ Notes: (*) 1 Euro = 1936,27 Lit. (**) Considered period Oct. 1, 1999 - Dec. 31, 1999. The previous period of the year 1999 was directly at De Nora SpA charge. De Nora Fuel Cells S.p.A. Stato patrimoniale al 31.12.99 - ---------------------------------------------------------------------------- Attivita Lit/ML Euro*000 - ---------------------------------------------------------------------------- Immobilizzioni immateriali 102 53 lmmobilizzazioni materiali 1.370 708 Crediti a lungo termine 25 13 Immobilizzazioni nette 1.497 773 Rimanenze di magazzino 1.211 625 Crediti vs clientela 2.523 1.303 Crediti commerciali vs Gruppo 76 39 Crediti diversi 74 38 Disponibiliti liquide 36 19 Totale attivitit correnti 3.920 2.025 Ratei e risconti 1 1 Totafe Attivitit 5.418 2.798 - ---------------------------------------------------------------------------- - ---------------------------------------------------------------------------- Passivita Lit./ML Euro*000 - ----------------------------------------------------------------------------- Capitale sociale 400 207 Riserva sovrapprezzo 1.130 584 Riserva legale 48 25 Altre riserve 259 134 Risultato di periodo (384) (198) Patrimonio netto 1.453 750 Fondi rischi e oneri 0 0 Fondo TFR 398 206 Norfin spa c/finanziamento 1.050 542 Passivita a lungo termine 1.448 748 Anticipi da clienti 687 355 Debiti vs fomitori 861 445 Debiti commerciali vs Gruppo 646 334 Altri debiti 174 90 Passivita correnti 2.368 1.223 Ratei e riscondi 149 77 Totale Passivita 5.418 2.798 - ----------------------------------------------------------------------------- De Nora Fuel Cells S.p.A. Conto Economico - ----------------------------------------------------------------------------- 1.10.99 - 31.12.99 Lit./ML Euro*000 - ----------------------------------------------------------------------------- Vendite 205 106 Locazioni 53 27 Contributi della ricerca 202 104 Var. rim. prodotti in corso e finiti 34 18 Valore della produzione 494 255 Costo materie prime, sussidiarie e merci (306) (158) Costi per servizi (329) (170) Costi pergodimento beni di terzi (affitti) (32) (17) Costi per il personale (286) (148) Ammortamenti (78) (40) Var. rim. materie prime e sussidiarie 246 127 Costi della produzione (785) (405) Risultato operativo (291) (150) Proventi (oneri) finanziari (14) (7) Proventi (oneri) straordinari (79) (41) Risultato ante imposte (384) (198) Imposte sul reddito 0 0 Risultato netto (384) (198) - ----------------------------------------------------------------------------- Note. (*) 1 Euro = 1936,27 Lit. (**) Periodo: 1 Ott. 1999 - 31 Dic. 1999. Nel periodo precedente l'attivita e in carico a De Nora spa. Schedule 4.13 - Absence of Certain Changes -------------------------- None Schedule 4.15 - Employee Benefit Plans ---------------------- In addition to severance pay, our company add the following annual integration for middle management and management, then: - - to Mr. Antonio Maggiore Lit. 4.000.000 - - to Mr. Michele Tettamanti Lit. 8.000.000 Schedule 4.16(a) - Real Property ------------- - - Milan; Via Bistolfi 35: Offices sqm 103 Laboratory sqm 250 - - Milan: Via Dei Canzi 1: Workshop sqm 140 Schedule 4.16(b) - Personal Property ----------------- Details of equipments and other assets t 31/12/1999 after spin-off
- ------------------------------------------------------------------------------------------------------------------------------------ Accumulated Accumulated Net book Date of depreciation Depreciation value as order Orders Description Supplier Book value at 31/12/98 31/12/99 at 31.12.1999 - ------------------------------------------------------------------------------------------------------------------------------------ Other equipments 19/10/92 921546 Vasca lavaggio ad ultrasuoni Orma 1.150.000 (1.150.000) (1.150.000) 26/10/92 921632 Rack di controllo SEA 9.310.000 (9.310.000) (9.310.000) 04/11/92 921716 Stampo guarniz 225 cm2 pressofuse Italstamp 9.000.000 (9.000.000) (9.000.000) 05/11/92 921722 Stampo bipoferi pressofusi Albertini 44.500.000 (44.500.000) (44.500.000) 11/02/93 930446 Stampo telai umid stack 10 kW Italstamp 11.000.000 (11.000.000) (11.000.000) 29/10/93 933741 Modifica stampo guarniz FC stack 225 cm2 Italstamp 5.000.000 (5.000.000) (5.000.000) 31/03/94 941585 Pompa Viesse 2.134.000 (2.134.000) (2.134.000) 24/05/94 942654 Applicatore Loctite Utensileria Teodosio 1.350.000 (1.350.000) (1.350.000) - ------------------------------------------------------------------------------------------------------------------------------------ Total other equipments 83.444.000 (83.444.000) (83.444.000) - ------------------------------------------------------------------------------------------------------------------------------------ Laboratory equipments 17/03/93 930833 Sonde RH (2), set di calibrazione, trasduttori P (2) Jumo 6.355.000 (6.355.000) (6.355.000) 19/03/93 930861 Indicatore digitali (5) + trasmett P (4) FEM 15.924.195 (15.924.195) (15,924.195) 26/03/93 930971 Cappa di Laboratorio Tecnoservice 14.400.000 (14.400.000) (14.400.000) 31/03/93 931056 PLC MAC 50 S.T.A 33.000.000 (33.000.000) (33.000.000) 20/04/93 931310 Cercafughe Gambetti 3.155.230 (3.155.230) (3.155.230) 07/06/93 932032 Fustellatrice oleodinamica Bombelli 6.100.000 (6.100.000) (6.100.000) 04/11/93 933813 Portastampo per provini + taselli Italstamp 3.000.066 (3.000.066) (3.000.066) 16/11/93 933956 Trasmettitore di Pressione Camille Bauer (4) Camille Bauer 5.928.000 (5.928.000) (5.928.000) 02/02/94 940437 Tensionatori + pompa BLM 9.482.720 (9.482.720) (9.482.720) 23/03/94 941370 Stampo guernizione FC stack 225 cm2 Italstamp 16.896.000 (16.896.000) (16.896.000) 10/05/94 942353 Stampo guarniz umidif stack 225 cm2 Italstamp 23.616.000 (23.616.000) (23.616.000) 23/05/94 942641 Serbatoio con resistenze SEA 4.560.000 (4.560.000) (4.560.000) 25/05/94 942706 Carichi elettronic (5 da 120 W e 1 da 8 kW) Hochert & Hackl 23.932.138 (23.932.138) (23.932.138) 07/06/94 942961 Pannello di decompressione e distribuzione gas Sapio 20.500.000 (20.500.000) (20.500.000) 14/06/94 943066 Strumentaz electtronica impianto B1 MKS 3.477.558 (3.477.558) (3.477.558) 01/07/94 943391 Rack modulari (3) S.E.A. 25.965.000 (25.965.000) (25.965.000) 15/09/94 944155 Apparecchiatura per prove elettriche Italstamp 4.200.000 (4.200.000) (4.200.000) 21/09/94 944244 Trasmettitore di pressione Camille Bauer (2) Camille Bauer 3.120.000 (3.120.000) (3.120.000) 21/09/94 944242 Armadio/pannelli di controllo strumentazione S.E.A. 7.722.000 (7.722.000) (7.722.000) 07/04/95 951549 Stampi guarniz FC x FEVER Italstamp 73.000.000 (73.000.000) (73.000.000) 07/04/95 951551 Stampo per lastre di gomma Italstamp 8.700.000 (8.700.000) (8.700.000) 11/04/95 951596 Stampo guarniz umidif. per FEVER busnelli 35.000.000 (35.000.000) (35.000.000) 28/06/95 952773 Sistema acquisizione dati SEA di Mora Pierangelo 21.707.500 (21.707.500) (21.707.500) 04/07/95 952860 Bagno termostatico Lauda Italscientifica 4.000.000 (4.000.000) (4.400.000) 21/07/95 953173 Tensionatori idraulici BLM SOS 7.866.000 (7.866.000) (7.866.000) 10/07/96 962671 Stampo guarniz FC stack 956 cm2 Italstamp 40.000.000 (29.999.976) (40.000.000) 27/08/96 962701 Dima press. Sorapec Italstamp 3.200.000 (2.399.976) (3.200.000) 27/01/97 970189 Piastre fibra Carbonio Archemide 1.350.000 (506.244) (843.744) 506.258 13/03/97 970835 Bagno termostatico Seneco 2.850.000 (1.068.744) (1.781.244) 1.068.756 14/04/97 971221 Stampo guarnizioni stack 60 cm2 Italstamp 17.000.000 (6.374.988) (10.624.988) 6.375.012 22/04/97 971319 Plastre fibra Carbonio Archemide 1.350.000 (506.223) (843.723) 506.277 16/07/97 972362 Stampo guarnizioni stack 1500 cm2 Italstamp 38.000.000 (14.249.988) (23.749.988) 14.250.012 Scaffalature per deposito Lab, FUEL CELL Scaffaltecnica (041) 2.864.160 (447.525) 2.416.635 19/07/94 943696 1 mobile lavello Arredi tecnici Villa 1.935.150 (1.935.150) (1.935.150) 25/10/99 m. 2 stampi Tecnomeccanica pr 53 30.000.000 (937.500) 29.062.500 30/10/99 Modifica stampo Italstamp ft 103 pr 29 15.000.000 (468.750) 14.531.250 01/11/99 Racorderia Nordival 3.193.963 (99.811) 3.094.152 02/11/99 Masaulom pr 32 1.237.850 (38.683) 1.199.167 05/11/99 Cotelco sri pr 35 5.081.326 (158.791) 4.922.535 08/11/99 Vimec sri pr 39 2.854.400 (89.200) 2.765.200 30/11/99 Amboldi-Fustelfa pr 52 720.000 (22.500) 697.500 30/11/99 Nordival pr 48 135.470 (4.233) 131.237 10/12/99 Acq Stack 1.200.000 (37.500) 1.162.500 ---------------------------------------------------------------- Total laboratory equipments [illegible] (436.648.696) [illegible] 82,688,988 - ------------------------------------------------------------------------------------------------------------------------------------ TOTAL EQUIPMENTS 633.023.726 (522.092.696) (550.334.738) 82,688,988 - ------------------------------------------------------------------------------------------------------------------------------------
t 31/12/1999 after spin-off - ---------------------------------------------------------------------------------------------------------------------------------- Accumulated Accumulated Net book Date of depreciation Depreciation value as order Orders Description Supplier Book value at 31/12/98 31/12/99 at 31.12.1999 - ---------------------------------------------------------------------------------------------------------------------------------- FURNITURE AND PITTINGS 94 1326 Armadi in metallo (2) Ditron Sisteml 1.327.200 (982.128) (1.141.392) 185.808 94 1487 Scrivanie ufficl + cassettiere Mercatre 8.147.250 (6.028.900) (7.006.565) 1.140.686 95 2226 Armadio Mercatre SpA 846.000 (846.000) (846.000) 92 879 n. 7 Sedle c/braccioli ODN Technologies (050) 1.186.000 1.186.000 (1.186.000) 92 903 n. 1 Scrivania + n. 1 Angolo ODN Technologies per scrivania (050) 178.976 178.976 (178.976) 92 905 n. 1 Scrivania ODN Technologies (050) 127.840 127.840 (127.840) 92 890 n. 4 Cassettiere ODN Technologies (050) 818.176 818.176 (818.176) 92 894 n. 1 Armadio a 4 ante 207 x 49.2 ODN Technologies (050) 5.752.800 5.752.800 (5.752.800) n. 4 Antine 44 x 49.2 92 898 n. 1 Mobiletto basso ODN Technologies (050) 204.544 204.544 (204.544) 92 1249 n. 1 Classificatore 4b4 ODN Technologies (050) 51.943 51.943 (51.943) 92 1250 n. 1 Classificatore 4b4 ODN Technologies (050) 58.303 58.303 (58.303) 99 063 S180 DM n. 1 Scrivania noce anegre' Centrufficio Loreto (050) 1.208.996 (72.540) 1.136.456 99 064 DA11060P - Dattilo noce anegre' Centrufficio Loreto (050) 519.646 (519.646) 99 065 1828OGP Contenitore noce anegre' Centrufficio Loreto (050) 839.246 (839.246) 99 064 18280PV Contenitore noce anegre' Centrufficio Loreto (050) 1.009.246 (60.553) 948.693 99 066 Top noce anegre' da cm. 159 Centrufficio Loreto (050) 139.696 (139.696) 99 065 n. 2 poltrene direzionali in Centrufficio Loreto pelle nera (050) 409.996 (409.996) 99 069 n. 8 Sedie FSBIGN 72 Blu' Centrufficio Loreto (050) 723.174 (723.174) - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL FURNITURE AND FITTINGS [illegible] 521.554 [illegible] 3.411.643 - ---------------------------------------------------------------------------------------------------------------------------------- COMPUTER HARDWARE 93 1458 Centralina di controllo portatile S.E.A. (60) 3.550.000 (3.550.000) (3.550.000) 99 076 Stampante SCANJET HP 5200 matric.SG8C11613T SYCON (060) 530.000 (530.000) 99 077 Stampante HP DESKJET metric. ES92H1308V SYCON (060) 650.000 (650.000) 99 027 FAX RICOH metricola U3381100579 SYCON (060) 1.950.000 (195.000) 1.755.000 99 146 DESKPRO EP Pll s/n 8920CCJ72006 (Franchi) SYCON (060) 1.950.000 (195.000) 1.755.000 96 065 BRAVO MS P/75 s/n 501772908 + Monitor + Licenza (Ornelas) SYCON (060) 6.090.000 3.654.000 (4.872.000) 1.218.000 99 144 DESKPRO EP Pll s/n 8920CCJ71832 (Brambilla) SYCON (060) 1.950.000 (195.000) 1.755.000 94 276 ZENITH 450X s/n N50021930 (Lab.FUEL CELLS) SYCON (060) 6.150.000 6.150.000 (6.150.000) 95 149 IBM 466 DX2/T s/n 6P550Z583 (Lab.FUEL CELLS Acq.dali) SYCON (060) 1.739.000 1.739.000 (1.739.000) 94 087 PC CIEMME - matric 951515 (Lab.FUEL CELLS Acq.dali) SYCON (060) 1.750.000 1.750.000 (1.750.000) 96 174 Transformazione 486 matric.951515 in PENTIUM SYCON (060) 1.100.000 659.976 (879.973) 220.027 95 198 BRAVO 270W s/n 125BHP030051 (Lab.FUEL CELLS Acq.dali) SYCON (060) 2.104.190 2.104.190 (2.104.190) 92 386 PC CIEMME P100 - matric 080454 (Magazz. via del Canzi) SYCON (060) 8.700.000 8.700.000 (8.700.000) 96 102 Transformazione 486 matric. 080454 in PENTIUM SYCON (060) 1.100.000 659.976 (879.973) 220.027 99 150 DESKPRO EP Pii s/n 8919CCJ72279 (Mazzuchelli) SYCON (060) 1.950.000 (195.000) 1.755.000 99 145 DESKPRO EP Pii s/n 8919CCJ72279 (Marzupio) SYCON (060) 1.950.000 (195.000) 1.755.000 98 207 DESKPRO P233MX s/n 8825BNT22415 (PLC) SYCON (060) 3.310.000 330.996 (992.970) 2.317.030 93 229 PC CIEMME 486DX (Zinl) s/n 223744 SYCON (060) 3.650.000 3.650.000 (3.650.000) 98 173 Transformazione in PENTIUM s/n 223744 SYCON (060) 1.100.000 659.976 (879.973) 220.027 99 090 DESKPRO EP Pii s/n 8908CCJ74715- (Dal Pezzo) SYCON (060) 2.130.000 (213.000) 1.917.000 97 140 BRAVO LC5133 s/n 11BUR034902 + Monitor + Office (Taverna) SYCON (060) 2.680.000 803.988 (1.339.982) 1.340.018 99 154 ARMADA 1700 - s/n 3J94CND1383C (Maggiore) SYCON (060) 3.700.000 (369.997) 3.330.003 DESKPRO EP Pii s/n 8919CCJ76324 (Torro) SYCON (060) 2.140.000 (213.999) 1.926.001 DESKPRO EP PII s/n 8919CCJ70168 (Fleba) SYCON (060) 2.140.000 (213.999) 1.926.001 30/11/99 ARMADA + SDRAM SYCON PR 51 3.450.000 (86.250) 3.363.750 23/12/99 BORSA PER PORTATILE SYCON PR 78 160.000 (4.000) 158.000 - ---------------------------------------------------------------------------------------------------------------------------------- TOTAL COMPUTER HARDWARE XXXX 27.312.102 XXXXXX 26.928.884 - ---------------------------------------------------------------------------------------------------------------------------------- INDUSTRIAL VEHICLES 21/10/92 92 1596 Carello transpallet (movimentaz bombole) Rotocar 12.500.000 (12.500.000) (12.500.000) --------------------------------------------------------------------------- 12.500.000 (12.500.000) (12.500.000) --------------------------------------------------------------------------- STATIONARY SYSTEMS AND TEST STATION --------------------------------------------------------------------------- [illegible] 3.611.303 1.009.716.495 --------------------------------------------------------------------------- SEE ATTACHED LIST - ---------------------------------------------------------------------------------------------------------------------------------- TOTAL FITINGS, COMPUTERS, OTHER ASSETS 1.117.050.020 15.333.656 (76.992.998) 1.040.057.022 - ----------------------------------------------------------------------------------------------------------------------------------
Producer goods in lease
Fuel Cells with clients Amount as at 31/12/1999 after spin-off - ----------------------------------------------------------------------------------------------------------------------------------- Client name Year of booking Book value Accumulated Deprec Pro-quota Deprec Pro-quota deprec 31/12/1999 Net book value 31.12.1998 as at 30.09.1999 rate 22.5% as at 31/12/99 - ----------------------------------------------------------------------------------------------------------------------------------- RENAULT Fuel cell year 95 8.928.426 8.928.426 0 RENAULT Fuel cell year 96 133.848.750 90.347.904 22.586.976 7.528.992 13.384.878 RENAULT Fuel cell year 96 66.924.375 45.173.952 11.293.488 3.764.496 6.692.439 RENAULT Fuel cell year 98 70.707.752 7.954.620 11.931.930 3.997.311 46.843.891 ANSALDO Fuel cell year 95 327.164.388 327.164.388 0 ANSALDO Fuel cell year 97 281.282.103 94.932.696 47.466.351 15.822.118 123.060.938 TNO INST. ENV. Fuel cell year 97 9.369.400 3.162.168 1.581.084 527.029 4.099.119 ARMINES Fuel cell year 95 44.140.712 41.381.900 2.758.812 0 ENEA Fuel cell year 96 35.843.136 24.194.088 6.048.522 2.016.176 3.584.350 DLR Fuel cell year 96 38.269.860 25.832.136 6.458.031 2.152.680 3.827.013 VOLVO Fuel cell year 98 35.017.907 3.939.504 5.909.265 1.969.757 23.199.381 ------------------------------------------------------------------------------------------------------------------ 1.051.496.809 673.011.782 116.034.459 37.758.560 224.692.008 ------------------------------------------------------------------------------------------------------------------ ABB CORPORATE Fuel cell year 1999 4.314.925 0 364.068 121.357 3.950.857 ESKOM Fuel cell year 1999 7.433.117 0 627.165 209.056 6.805.952 POWER COMP. Fuel cell year 1999 13.263.415 0 1.119.100 373.034 12.144.315 ------------------------------------------------------------------------------------------------------------------ 25.011.457 0 2.110.333 703.447 22.901.124 - ---------------------------------------------------------------------------------------------------------------------------------- TOTAL 1.076.508.266 673.011.782 118.144.792 38.462.007 247.593.132 - ----------------------------------------------------------------------------------------------------------------------------------
Other tangible fixed assets Amount as at 31/12/1999 after spin-off at 31.12.1999 - ------------------------------------------------------------------------------ HIGH POWER TEST STATION FUEL CELL project 911-IDMI 85.267.598 - less pro quota depreciation at 30/9/99 (2.558.025) Invoice of 21/10/99 order 99/33 PR 5 20.060.200 ------------------ 102.769.773 ------------------ STATIONARY FUEL CELL SYSTEMS project 902 DMI 908.000.000 ------------------ 908.000.000 ------------------ TOTAL 1.010.769.773 - ------------------------------------------------------------------------------ Schedule 4.19(a) - A complete list of employees of DNFC ------------------------------------ DE NORA FUEL CELLS S.p.A.
- ------------------------------------------------------------------------------------------------------------------------------------ Gross Annual Date Salary of (Italian Incentive bonus Fringe Working Duration of Surname Name Sex birth Age Lire) (Italian Lire) Benefits Time contract - ------------------------------------------------------------------------------------------------------------------------------------ xxRTI IACOPO M 24/10/1978 21 34.409.200 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxBILLA MASSIMO M 12/02/1953 47 56.999.110 5000.00/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxMEZZO PIETRO M 02/09/1966 33 44.717.400 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxRATE ALESSANDRO M 10/02/1962 38 71.982.512 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxA GIAN PIERO M 06/05/1955 44 58.756.894 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxO ANTONIO M 14/05/1937 62 62.629.322 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxCHI KATIA F 25/05/1970 29 48.287.596 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xDOLFI SABRINA F 06/02/1968 32 42.155.400 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xIORE ANTONIO GIUSEPPE M 12/06/1964 35 70.000.000 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xUPIO GIANPAOLO M 10/02/1951 49 60.027.128 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxUCCHELLI GABRIELE M 03/09/1949 50 61.616.898 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxLAS JACOBO RUBEN M 05/03/1956 43 55.936.944 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxRNA MARINA F 25/08/1970 29 41.702.416 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxAMANTI MICHELE M 25/11/1959 40 100.000.012 up to 20% annual gross salary** Hand-phone Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxxx ANTONINO M 18/12/1972 27 38.102.624 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ XNI FABIO M 17/08/1967 32 43.247.400 500.000/1.500.000* Full-time Open-ended contract - ------------------------------------------------------------------------------------------------------------------------------------ xxxcordance with Corporate Agreement, calculated on productivity, profitability and quality index results xxo system xxxdata are reserved in compliance with Law 675/1996
DE NORA FUEL CELLS S.p.A.
- ------------------------------------------------------------------------------------------------------------------------------------ Medium working Daily Pay Incentive bonus Surname Name Sex Date of birth Age (Italian Lire) (Italian Lire) Fringe Benefits Working Time Duration of contract - ------------------------------------------------------------------------------------------------------------------------------------ A ROBERTO M 370.000 Temporary Until 21/4/2000 - ------------------------------------------------------------------------------------------------------------------------------------ XMANTONIO MICHELE M 370.000 Temporary Until 21/4/2000 - ------------------------------------------------------------------------------------------------------------------------------------ XHO MASSIMO M 370.000 Temporary Until 21/4/2000 - ------------------------------------------------------------------------------------------------------------------------------------ XEGRINO ROBERTO M 370.000 Temporary Until 28/4/2000 - ------------------------------------------------------------------------------------------------------------------------------------
XXe end of temporary contract he will be emploied by De Nora Fuel Cells directly XXt data reserved in compliance with Law 675/1996
- ------------------------------------------------------------------------------------------------------------------------------------ Gross annual Salary Incentive bonus Surname Name Sex Date of birth Age (Italian Lire) (Italian Lire) Fringe Benefits Working Time Duration of contract - ------------------------------------------------------------------------------------------------------------------------------------ XOSSO DOMENICO M 21/10/1961 39 42.699.678 500.000/1.500.000* Temporary** Expiring 30/4/2000 - ------------------------------------------------------------------------------------------------------------------------------------ Dell'Osso is a De Nora S.p.A employee. Actually he is at disposal of De Nora Fuel Cells. Xt data are reserved in compliance with Law 675/1996
DE NORA s.p.a. GRUPPO ORONZIO DE NORA - -------------------------------------------------------------------------------- Spettabile DE NORA FUEL CELLS S.p.A. Via Bistolfi, 35 20134 MILANO Milano, 26 gennaio 2000 A seguito Vostra richiesta odierna, ci dichiariamo disponibili, sentito anche il parere del nostro dipendente, a mettere a Vostra disposizione il Sig. Domenico Dell'Osso alle seguenti condizioni: Durata del prestito: dal 01/02/2000 al 30/04/2000 Tipologia di prestazione effettuata: attivita produttiva Sede di lavoro: Milano - Via Bistolfi, 35 Orario di lavoro: a tempo pieno Corrispettivo del prestito: costo del lavoro da noi sostenuto compreso di oneri contributivi Modalilti del riaddebito: posticipato mensile Risoluzione del contratto: a mezzo comunicazione scritta dal primo del mese successivo alla data della comunicazione Vogliate renderci firmata per accetazione copia della presente. DE NORA S.p.A PER ACCETTAZIONE: /s/ ................... [LOGO] Via Bistolfi, 35-20134 Milano - [LOGO] Tel. (02) 21291 - Telex 310.552 ODENOR I Schedule 4.19(b) - Severance Pay as of 31/12/99 ---------------------------- Lit. 398.473.100 ---------------- EXHIBIT A [LETTERHEAD OF HALE AND DORR LLP] April 4, 2000 DeNora New Energy Investments B.V. DeNora Fuel Cells S.p.a Via Bistolfi 35 20134 Milano, Italy Re: Investment and Exchange Agreement --------------------------------- Ladies and Gentlemen: This opinion is being furnished pursuant to Section 8.1(d) of the Investment and Exchange Agreement, dated as of April 4, 2000, between Arthur D. Little, Inc. ("ADL"), Epyx Corporation ("Epyx"), DeNora Fuel Cells S.p.a. ("DNFC") and DeNora New Energy Investment B.V. ("DN") (the "Investment Agreement"). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to them in the Investment Agreement. We have acted as special counsel to ADL and Epyx (the "ADL Parties") in connection with the Investment Agreement. As such counsel, we have not been engaged to negotiate or prepare the Investment Agreement or any of the other documents referenced therein. However, we have examined and are familiar with and have relied upon the following documents: (a) the Investment Agreement and the Stockholders' Agreement dated of even date herewith between Epyx, ADL, DN and Amerada Hess Corporation (the "Stockholders' Agreement," and together, with the Investment Agreement, the "Transaction Documents"); (b) an Officer's Certificate from ADL, dated as of the date hereof (the "ADL Officer's Certificate"), attesting to ADL's charter and bylaws, certain resolutions adopted by the Board of Directors of ADL, the incumbency of certain officers of ADL, and as to certain other matters; (c) an officer's Certificate from Epyx, dated as of the date hereof (the "Epyx Officer's Certificate"), attesting to Epyx's charter and bylaws, certain resolutions adopted by the Board of Directors and Stockholders of Epyx, the incumbency of certain officers of Epyx, and as to certain other matters; (d) A stock certificate (the "Epyx Certificate") representing 500,000 shares of Epyx Common Stock, registered in the name of DN (the "Epyx Shares"); and (e) such other records of meetings, documents, instruments and certificates (including but not limited to certificates of public officials and officers of the ADL Parties) as we have considered necessary for purposes of this opinion. In our examination of the documents described above, we have assumed the genuineness of all signatures, the legal capacity of all individual signatories, the completeness of all corporate and stock records provided to us, me authenticity of all documents submitted to us as originals, DeNora New Energy Investments B.V. DeNora Fuel Cells S.p.a April 4, 2000 Page 2 the conformity to original documents of all documents submitted to us as copies, and the authenticity of the originals of such latter documents. In rendering this opinion, we have relied, as to all questions of fact material to this opinion, upon certificates of public officials and officers of the ADL Parties and upon the representations and warranties made by the parties to the Transaction Documents in the Transaction Documents. We have not attempted to verify independently such facts, although nothing has come to our attention which has caused us to question the accuracy of such certificates or representations and warranties. Any reference herein to "our knowledge," or to any matter "known to us", "coming to our attention" or "of which we are aware", or any variation of any of the foregoing shall mean the conscious awareness of the attorneys in this firm who have been involved in the preparation of this letter of the existence or absence of any facts which would contradict our opinions or statements set forth below. We have not undertaken any independent investigation to determine the existence or absence of such facts, and no inference as to our knowledge of the existence or absence of such facts should be drawn from the fact of our representation of the ADL Parties. Without limiting the foregoing, we have not conducted a search of any electronic databases or the dockets of any court, administrative or regulatory body, agency or other filing office in any jurisdiction. For purposes of this opinion, we have assumed that the Transaction Documents have been duly authorized, executed and delivered by all parties thereto other than the ADL Parties, and that all such other parties have all requisite power and authority to effect the transactions contemplated by the Transaction Documents. We have also assumed that each Transaction Document is the valid, binding and enforceable obligation of each party thereto other than the ADL Parties. We do not render any opinion as to the application of any federal or state law or regulation to the power, authority or compliance of any party to any of the Transaction Documents other than the ADL Parties. Our opinions set forth below are qualified to the extent that they may be subject to or affected by (i) applicable bankruptcy, insolvency, reorganization, moratorium fraudulent conveyance or similar laws relating to or affecting the rights of creditors generally, (ii) statutory or decisional law concerning recourse by creditors to security in the absence of notice or hearing, and (iii) duties and standards imposed on creditors and parties to contracts, including, without limitation, requirements of good faith, reasonableness and fair dealing. Furthermore, we express no opinion as to the availability of any equitable or specific remedy upon any breach of any of the agreements as to which we are opining herein, or any of the agreements, documents or obligations referred to therein, or to the successful assertion of any equitable defenses, inasmuch as the availability of such remedies or the success of any equitable defense may be subject to the discretion of a court. We are expressing no opinion herein as to the enforceability of Sections 7.1, 7.2, 7.3, 9.1, 9.2, 9.3 or 9.4 of the Investment Agreement. We are expressing no opinion herein as the enforceability of the following Sections of the Stockholders' Agreement: (I) Section 2.1(b) (other than the first sentence thereof); or (II) Sections 2.3, 2.4, 3.3, 4.4 or the last two sentences of Section 5.8. We are expressing no opinion as the enforceability of any provision of any agreement or document as to which we are opining herein which purports to indemnify any person against his, her or its own negligence or intentional misconduct. We are expressing no opinion herein with respect to compliance by any ADL Party with (I) state securities or "blue sky" laws, or with any state or federal securities antifraud laws or (II) with any laws or regulations relating to export of technology, goods, services or intellectual property. We are not DeNora New Energy Investment B.V. DeNora Fuel Cells S.p.a. April 4, 2000 Page 3 expressing any opinion herein as to the title or ownership of any assets by any of the ADL Parties. For purposes of our opinion expressed in paragraph 6 below, insofar as it relates to the full payment for the Epyx Shares, we have assumed that (i) the DNFC shares have been duly and properly transferred by DN to Epyx, free and clear of all liens and encumbrances and (ii) the fair market value of the DNFC shares transferred to Epyx by DN is equal to or greater than the aggregate par value of the Epyx Shares. For purposes of our opinion in paragraph 8 below, we have relied upon representations made by DN in Section 5.4 of the Investment Agreement, and have assumed (without any independent investigation) the accuracy of such representations. We are opining herein solely as to the state laws of the Commonwealth of Massachusetts, the Delaware General Corporation Law statute and the federal laws of the United States of America. To the extent that any other laws govern any of the matters as to which we are opining below, we have assumed, with your permission and without independent investigation, that such laws are identical to the state laws of the Commonwealth of Massachusetts, and we express no opinion as to whether such assumption is reasonable or correct. For purposes of our opinions rendered below, we have assumed that the facts and law governing the future performance by the ADL Parties of their respective obligations under the Transaction Documents will be identical to the facts and law governing their performance on the date of this opinion. Based upon and subject to the foregoing, we are of the opinion that: 1. Each of the ADL Parties has all requisite corporate power and authority to enter into and perform its obligations under the Transaction Documents to which it is a party. 2. The execution, delivery and performance of the Investment Agreement by the ADL Parties have been duly authorized by each of the ADL Parties, and the execution, delivery and performance of the Stockholders' Agreement by the ADL Parties has been duly authorized by the ADL Parties. 3. The Investment Agreement has been duly executed and delivered by each of the ADL Parties, and constitutes the valid and binding obligation of the ADL Parties, enforceable against them in accordance with its terms. The Stockholders' Agreement has been duly executed and delivered by the ADL Parties, and constitutes the valid and binding obligation of the ADL Parties, enforceable against them in accordance with its terms. 4. The execution, delivery and performance of the Transaction Documents by the ADL Parties who are parties thereto does not violate any decree or order of any court or governmental or regulatory agency specifically naming any ADL Party of which we have knowledge. 5. No stamp, registration or other similar taxes or charges are payable under the federal laws of the United States or the state laws of the Commonwealth of DeNora New Energy Investment B.V. DeNora Fuel Cells S.p.a. April 4, 2000 Page 4 Massachusetts in respect of the execution or delivery by the ADL Parties of the Transaction Documents. 6. The Epyx Shares have been duly authorized and validly issued and are fully paid and nonassessable, and the Epyx Certificate represents 500,000 shares of Common Stock of Epyx. 7. The execution and delivery by the ADL Parties of the Transaction Documents, and the consummation by the ADL Parties of the transactions contemplated thereby, do not, to our knowledge, violate the provisions of any Federal or Massachusetts state law, rule or regulation applicable to the ADL Parties. 8. Based in part on the representations of DN in the Investment Agreement, the issuance and sale of the Epyx Shares to DN pursuant to the Investment Agreement are exempt from registration under the Securities Act of 1933, as amended. This opinion is provided to you as a legal opinion only and not as a guaranty or warranty of the matters discussed herein. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions and is rendered as of the date hereof, and we disclaim any obligation to advise you of any change in any of the foregoing sources of law or subsequent developments in law or changes in facts or circumstances which might affect any matters or opinions set forth herein. This opinion is rendered only to you and is solely for your benefit in connection with the transactions contemplated by the Transaction Documents. This opinion may not be relied upon by you for any other purpose, nor may this opinion be provided to, quoted to or relied upon by any other person or entity for any purpose, without our prior written consent. Very truly yours, /s/ Hale and Dorr LLP HALE AND DORR LLP EXHIBIT B [LETTERHEAD OF STUDIO LEGALE] Boston, April 4/th/ 2000 Arthur D. Little Inc. Acorn Park Cambridge, Massachussets 02140-2390 USA Re: Investment and Exchange Agreement --------------------------------- Dear Sirs: This opinion is being furnished pursuant to Section 8.2(d) of the Investment and Exchange Agreement, dated as of April 4, 2000, between Arthur D. Little, Inc. ("ADL"), Epyx Corporation ("Epyx"), DeNora Fuel Cells S.p.a. ("DNFC") and DeNora New Energy Investment B.V. ("DN") (the "Investment Agreement"). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to them in the Investment Agreement. We have acted as legal counsel to DNFC and DN (the "DN Parties") in connection with the Investment Agreement and we have been engaged to negotiate and prepare the Investment Agreement and any of the other documents referenced therein. We have examined and are familiar with and have relied upon the following documents: . the Investment Agreement, the Stockholders' Agreement dated of even date herewith between ADL, DN and Epyx (the "Stockholders' Agreement, and together, with the Investment Agreement, the "Transaction Documents"); . the shareholders' ledger of DNFC (the "DNFC Ledger"), attesting to DNFC's incorporation and capitalization, certain resolutions adopted by the Board of Directors of DNFC; . deed of incorporation dated as of March 14/th/ 2000 and certificate from the Chamber of Commerce and Industries of Amsterdam, dated as of March 30, 2000 (the "DN Corporate Certificates"), attesting to DN's incorporation, Arthur D. Little Inc. April 4, 2000 Page 2 charter and bylaws, certain resolutions adopted by the Board of Managing Directors of DN; . a stock certificate to be completed by DNFC and issued to Epyx and then recorded in the DNFC Ledger (the "DNFC Stock Certificate"); and . such other records of meetings, documents, instruments and certificates (including but not limited to certificates of public officials and officers of the DN Parties) as we have considered necessary for purposes of this opinion. In our examination of the documents described above, we have assumed the genuineness of all signatures, the legal capacity of all individual signatories, the completeness of all corporate and stock records provided to us, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as copies, and the authenticity of the originals of such latter documents. In rendering this opinion, we have relied, as to all questions of fact material to this opinion, upon certificates of public officials and officers of the DN Parties and upon the representations and warranties made by the parties to the Transaction Documents in the Transaction Documents. We have not attempted to verify independently such facts, although nothing has come to our attention which has caused us to question the accuracy of such certificates or representations and warranties. Any reference herein to "our knowledge," or to any matter "known to us", "coming to our attention" or "of which we are aware", or any variation of any of the foregoing shall mean the conscious awareness of the attorneys in this firm who have been involved in the preparation of this letter of the existence or absence of any facts which would contradict our opinions or statements set forth below. We have not undertaken any independent investigation to determine the existence or absence of such facts, and no inference as to our knowledge of the existence or absence of such facts should be drawn from the fact of our representation of the DN Parties. Without limiting the foregoing, we have not conducted a search of any electronic databases or the dockets of any court, administrative or regulatory body, agency or other filing office in any jurisdiction. For purposes of this opinion, we have assumed that the Transaction Documents have been duly authorized, executed and delivered by all parties thereto other than the DN Parties, and that all such other parties have all requisite power and authority to effect the transactions contemplated by the Transaction Documents. We have also assumed that each Transaction Document is the valid, binding and enforceable obligation of each party thereto other than the DN Parties. We do not render any opinion as to the application of any law or regulation to the power, authority or compliance of any party to any of the Transaction Documents other than the DN Parties. Our opinions set forth below are qualified to the extent that they may be subject to or affected by (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws relating to or affecting the rights of creditors generally, (ii) statutory or decisional law concerning recourse by creditors to security in the absence of notice or hearing, and (iii) Arthur D. Little Inc. April 4, 2000 Page 3 duties and standards imposed on creditors and parties to contracts, including, without limitation, requirements of good faith, reasonableness and fair dealing. Furthermore, we express no opinion as to the availability of any equitable or specific remedy upon any breach of any of the agreements as to which we are opining herein, or any of the agreements, documents or obligations referred to therein, or to the successful assertion of any equitable defenses, inasmuch as the availability of such remedies or the success of any equitable defense may be subject to the discretion of a court. We are expressing no opinion herein as to the enforceability of any section of the Transaction Documents under the General Corporation Law of the State of Delaware. We are expressing no opinion as the enforceability of any provision of any agreement or document as to which we are opining herein which purports to indemnify any person against his, her or its own gross negligence or intentional misconduct. We are expressing no opinion herein with respect to compliance by any DN Party with (I) securities or "blue sky" laws, or with any securities antifraud laws or (II) with any laws or regulations relating to export of technology, goods, services or intellectual property. We are not expressing any opinion herein as to the title or ownership of any assets by any of the DN Parties. For purposes of our opinion expressed in paragraph 6 below, insofar as it relates to the full payment for the DNFC Shares, we have assumed that (i) 500,000 newly issued shares of Epyx (the "Epyx Shares") have been duly and properly issued by Epyx and registered in the name of DN, free and clear of all liens and encumbrances and (ii) the fair market value of the Epyx Shares is equal to or greater than the par value of 50% of the common stock of Epyx. We are opining herein solely as to the laws of Italy. To the extent that any other laws govern any of the matters as to which we are opining below, we have assumed, with your permission and without independent investigation, that such laws are identical to the laws of Italy, and we express no opinion as to whether such assumption is reasonable or correct. For purposes of our opinions rendered below, we have assumed that the facts and law governing the future performance by the DN Parties of their respective obligations under the Transaction Documents will be identical to the facts and law governing their performance on the date of this opinion. Based upon and subject to the foregoing, we are of the opinion that: 1. Each of the DN Parties has all requisite corporate power and authority to enter into and perform its obligations under the Transaction Documents to which it is a party. 2. DNFC has all requisite corporate power and authority to issue and delivery the DNFC Stock Certificate to Epyx and to make any entry thereof in the DNFC Ledger. 3. The execution, delivery and performance of the Investment Agreement by the DN Parties have been duly authorized by each of the DN Parties, and the execution, delivery and performance of the Stockholders' Agreement by DN has been duly authorized by DN. 4. The Investment Agreement has been duly executed and delivered by each of the DN Parties, and constitutes the valid and binding obligation of Arthur D. Little Inc. April 4, 2000 Page 4 the DN Parties, enforceable against them in accordance with its terms. The Stockholders' Agreement has been duly executed and delivered by DN, and constitutes the valid and binding obligation of DN, enforceable against it in accordance with its terms. 5. The execution, delivery and performance of the Transaction Documents by the DN Parties who are parties thereto does not violate any decree or order of any court or governmental or regulatory agency specifically naming any DN Party of which we have knowledge. 6. No stamp, registration or other similar taxes or charges are payable under the laws of Italy in respect of the execution or delivery by the DN Parties of the Transaction Documents. 7. The DNFC Shares have been duly authorized and validly issued and are fully paid and nonassessable. The DNFC Stock Certificate, when completed and issued to Epyx, represents 400,000 ordinary shares of Common Stock of DNFC. 8. The execution and delivery by the DN Parties of the Transaction Documents, and the consummation by the DN Parties of the transactions contemplated thereby, do not, to our knowledge, violate the provisions of any law, rule or regulation applicable to the DN Parties. 9. Neither the DN Parties nor any of their assets enjoy any right of immunity from set-off, suit, or execution with respect to their obligations under the Transaction Documents. This opinion is provided to you as a legal opinion only and not as a guaranty or warranty of the matters discussed herein. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions and is rendered as of the date hereof, and we disclaim any obligation to advise you of any change in any of the foregoing sources of law or subsequent developments in law or changes in facts or circumstances which might affect any matters or opinions set forth herein. This opinion is rendered only to you and is solely for your benefit in connection with the transactions contemplated by the Transaction Documents. This opinion may not be relied upon by you for any other purpose, nor may this opinion be provided to, quoted to or relied upon by any other person or entity for any purpose, without our prior written consent. Very truly yours Avv. Giuseppe Cambareri /s/ Giuseppe Cambareri Exhibit C EXHIBIT 10.04 LICENSE AGREEMENT This Agreement is made as of March 31, 2000, by and between EPYX Corporation, a Delaware corporation located at 15 Acorn Park, Cambridge, MA 02140 (hereinafter "EPYX") and Arthur D. Little, Inc., a Massachusetts corporation located at 25 Acorn Park, Cambridge, MA 02140 (hereinafter "ADL"). WITNESSETH WHEREAS, ADL desires to acquire a license from EPYX under certain intellectual property rights owned by EPYX for use solely in certain Fields of Use; and WHEREAS, EPYX desires to grant such license rights to ADL; and NOW, THEREFORE, for and in consideration of the covenants set forth herein and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows: 1. DEFINITIONS. The following capitalized terms, as used in this Agreement, shall have the meanings set forth below. 1.1 "EPYX Intellectual Property Rights" means all intellectual property set forth on the attached Schedule __, exclusive of trademark rights, for which EPYX has the right to grant sublicenses thereunder. 1.2 "Gas-to-Liquids Fuel Processing" means the conversion of substantially gaseous hydrocarbons into products that are substantially liquids at or near ambient conditions such as but not limited to diesel and methanol. 1.3 "Fuel Conversion for I.C. Engines" means the transformation of internal combustion engine fuels into reducing agents such as hydrogen, carbon monoxide, and small hydrocarbons to assist in lean burn operation, cold starting, and emissions control of internal combustion engines. 1.4 "Field of Use" means Gas to Liquids Fuel Processing and Fuel Conversion Devices for I.C. Engines. 2. LICENSE GRANT. EPYX hereby grants to ADL a royalty-free, world-wide, non-exclusive right and license, with the right to sublicense, to make, have made, import, use, offer for sale and/or sell, all products, devices, apparatus and processes covered under EPYX Intellectual Property Rights solely in the Fields of Use. The license rights granted herein shall not be assigned by ADL without the prior written consent of EPYX, which consent shall not be unreasonably withheld. Prior to ADL granting a sublicense hereunder, ADL agrees to obtain the consent of EPYX, such consent not to be unreasonably withheld. 3. CONFIDENTIALITY ADL agrees to keep confidential and exercise reasonable care in preventing disclosure to third parties of all EPYX Intellectual Property Rights that are not otherwise publicly available, (EPYX Confidential Information). All documents containing such information shall be marked "EPYX CONFIDENTIAL". Upon termination of this Agreement all EPYX Confidential Information shall be returned promptly to EPYX. Nevertheless, the obligations contained herein shall survive the termination of the Agreement. The obligations contained in this section shall not apply in the event that the aforesaid Confidential Information is now or shall become available to the public generally other than as a result of a breach of this provision, or becomes available to the receiving party from a third party who owed no obligation of confidentiality to EPYX. In the event that a receiving party concludes that information covered by this provision is no longer confidential, it shall so notify the disclosing party and provide it with evidence of the public nature of the information, but shall continue to maintain the confidentiality of the information for a period of thirty (30) days after the giving of such notice. In the event the disclosing party continues to assert the confidentiality of the information, it shall so notify the receiving party and the parties shall in good faith attempt to reach agreement as to the need for continued confidentiality of the information. 4. TERM AND TERMINATION Unless otherwise agreed by the parties in writing, the term of the licenses granted herein shall be ten (10) years from the effective date of this Agreement. The parties may terminate this Agreement at any time if mutually agreed in writing. The Agreement will terminate upon the happening of any of the following: (a) ADL shall make an assignment for the benefit of creditors, or petition or apply for or arrange for the appointment of a trustee, liquidator or receiver, or commence any proceeding relating to itself under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation or similar law of any jurisdiction, now or hereafter in effect, or otherwise, or shall be adjudicated a bankrupt or insolvent, or (b) any petition or application for the appointment of a trustee, liquidator or receiver is filed against ADL or any proceeding relating to ADL under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation or similar law of any jurisdiction now or hereafter in effect is commenced against ADL and ADL shall indicate its approval thereof, consent thereto, or acquiescence therein, or an order is entered appointing any such trustee, liquidator or receiver, which order is not stayed or removed within ninety (90) days after the date entered. 5. NO REPRESENTATIONS OR WARRANTIES Neither party makes any representation or gives any warranties that the use of EPYX Intellectual Property Rights by ADL will not infringe the rights of any third parties. 6. NOTICES 6.1 EPYX agrees to give ADL notice of any inventions developed by or for EPYX in the Field of Use, subsequent to the effective date of this Agreement, which are the subject of a patent application promptly upon filing of the same. Should ADL desire a license under such patent rights, the parties shall use their best efforts to negotiate mutually acceptable terms. 2 6.2 ADL and EPYX agree, respectively, to give each other prompt notice of any claims by a third party of infringement as a result of any licensed rights under EPYX Intellectual Property Rights and/or ADL Intellectual Property Rights. 6.3 All Notices required hereunder shall be in writing and shall be deemed to have been duly given when (a) delivered by hand; (b) given by facsimile or e-mail (and confirmed by registered mail); or (c) on the third business day after deposit with (i) the United States Postal Service for delivery by Express Mail or equivalent; or (ii) Federal Express or the equivalent, and in all cases addressed as follows: If to EPYX, at: Jeffrey Bentley EPYX Corporation Acorn Park Cambridge, MA 02140 If to ADL, at: Samuel J. Gallo General Counsel Arthur D. Little, Inc. 25 Acorn Park Cambridge, MA 02140 7 MISCELLANEOUS EPYX agrees to take all reasonable steps to prevent the lapse of any patent, patent application, trademark and/or copyright which is the subject EPYX Intellectual Property Rights. 8 ENTIRE AGREEMENT. This Agreement represents the entire understanding between the parties, and supercedes all other agreements, express or implied, between the parties concerning the license granted herein. 9 CHOICE OF LAWS. This license shall be interpreted according to the laws of the Commonwealth of Massachusetts. 3 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. EPYX CORPORATION ARTHUR D. LITTLE, INC. By: /s/ Mark Brodsky By: /s/ John F. Burns ---------------------------- ------------------------------- Name: Mark Brodsky Name: John F. Burns Title: President Title: Chief Financial Officer 4 SCHEDULE 1 ARTHUR D. LITTLE, INC. TO EPYX CORPORATION (HYDROGEN GENERATION TECHNOLOGY)
- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 002 CLOSED PCT UTILITY APPL. Lawrence G. Clawson . Second Written Opinion mailed S/N: PCT/US 97/014, 906 William L. Mitchell 7/7/98 is favorable, indicating (National filings FILED: 8/25/97 Johannes H.J. Thijssen patentability. completed, see 1973 PUBLISHED: 3/5/98, WO98/08771 Jeff Bentley . National filings completed in P 003, 005, 006, TITLE: Method and Apparatus for February of 1999; see 1973 008, 009, and 011) Converting Hydrocarbon Fuel into series below. Hydrogen Gas and Carbon Dioxide . PCT application filed naming NOTE: (This is the international only one Inventor, per equivalent of 1955 P007; i.e., the instructions from legal originally-filed ADL application assistant to ADL. directed to Model A, FIG. 1 and This consequently corrected in two other embodiments FIGS. 2-3) National filings (1973 series). - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 003 CLOSED PROPOSED: U.S. Continuation-In- Lawrence G. Clawson, . New generation reactor (a.k.a (Case No. Part application from USSN 08/703, William Mitchell Model B) drawings provided to 93275-75 & (Subject matter 398 8/26/96. W&W, claims prepared and sent to 6/20/97) incorporated into WORKING Title: Method and W. Mitchell and L. Clawson for Provisional App. Apparatus for Converting Hydrogen review. Discussed at 9/9/98 1955 P 008, then Gas and Carbon Dioxide. meeting regarding proper claim updated into NOTE: (Early MODEL B with distinct scope. . Updated disclosures received and all subject matter incorporated into Provisional - -----------------------------------------------------------------------------------------------------------------------------------
1
- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ omnibus steam reform and POX in same Application (See 1955 P 008) specification for central chamber, now changed to POX filed 05/03/1999. proposed Utility surrounded by S/R chamber) . An omnibus specification of application) system as a whole, sent to B. Nowicki on 12/23/99 for review. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 004 PENDING U.S. UTILITY Lawrence G. Clawson, . Corresponding PCT filed January S/N: 09/006, 727 William Mitchell 13, 1999 (P049); FILED: 1/14/98 Jeff Bentley . Filed as a non-DOE application; TITLE: Hydrogen-producing Reactor James C. Cross, III . Office Action mailed 6/21/1999 with React and Flow in Diverging rejecting all claims; Directions . Subsequent U.S. searching done; NOTE: (Radial Flow Muni-pox) . Response mailed 12/21/99; . Examiner interviewed, Supplemental Reply and Amendment mailed 2/22/00; . Office Action mailed 3/24/00 --- Claims 71 and 72 allowed, Claims 17, 18, 38-41, 60-62 and 73 allowable if rewritten, all other claims rejected; [_]Prepare Reply to rewrite allowable claims, cancel rejected claims; [_]File Continuation Application to pursue rejected claims - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 005 CLOSED WORKING TITLE: Method And Robert Davis . Proposed claims forwarded to R. (Case Nos. Apparatus For Controlling Lawrence G. Clawson, Davis and reviewed with R. 48226 and (Subject matter Multifuel, Hydrogen-producing William Mitchell, Davis at ADL on 9/10/98 53790 & incorporated into Reactor Jennifer Rumsey . Some disclosure to DOE in at 2/15/95) omnibus NOTE: (System Level Application) least February 1995. specification, [_]Have received updated forwarded to B. information from J. Rumsey, in Nowiki on progress of incorporating control into omnibus specification for Model B system, forwarded to B. Nowicki on - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ 1/23/99) 12/23/1999 for review. [_] NOT PROTECTED: Do Not Make Public Disclosure. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 007 PENDING U.S. UTILITY APPLICATION Lawrence G. Clawson, . Application filed 8/26/96; S/N: 08/703,398 William L. Mitchell, . Office Action received FILED: 8/26/96 Jeffrey M. Bentley, 7/30/97, per Examiner CPA FILED: 8/9/99 Johannes H J. Thijssen Supplemental required in view TITLE: Method and Apparatus for of supplement IDS, received by Converting Hydrocarbon Fuel into W&W (all claims rejected); Hydrogen Gas and Carbon Dioxide . Response to Supplemental NOTE: (Three embodiments, Model A Office 8/31/98; reformer, FIG. 1 and two other . Office Action received FIGS. 2-3) 11/09/98 (all claims rejected; . CPA (continuing patent application) filed with preliminary amendment 8/9/99; . Office Action received September 27, 1999; . One face-to-face interview of Examiner and several telephonic interviews with Examiner, indicating potentially allowable subject matter contingent upon declaration of inventor and claim amendments; . Reply filed with Declaration of W. Mitchell on 3/2/00; [_] Awaiting next Office Action - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 008 PENDING U.S. PROVISIONAL William L. Mitchell, . Claims prepared and compared (Memo S/N: 60/132,184 Lawrence G. Clawson, with ADL prior public undated, FILED: 5/3/99 Robert Davis disclosures. Claim scope received TITLE: Apparatus For Reforming Brian Nowicki discussed with J. Bentley at 10/8/97) Hydrocarbon Fuels to Hydrogen Jennifer Rumsey 12/3/97 meeting. and For Cleaning Exhaust From Matthew Dorson . Application includes subject Associated Fuel Cell matter from: 1955 P 003; 1955 P 033, 1955 P 034; 1955 P 035; and, 1955 P 043. [_] Consider if combined or combinable with invention to Hydrodesulfurization Method - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ and Apparatus (See 1955 P 039 Sederquist). . Provisional Application filed May 3, 1999. [_]Received updated disclosure of Model B and TGC with multi functions including preheat fuel to reformer and desulfurization. Omnibus application sent to B. Nowicki on 12/23/99 for review. Does or will include updated disclosure for filing as a utility application. [_]Decision to be made on whether (and to what extent) subject matter is under any DOE contracts. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 009 ACTIVE WORKING TITLE: Adiabatic Prox With Robert Weber, . C. Papile has sent us some Au Catalyst Promoted by Another Christopher Papile, information on the catalyst and Transition Metal Oxide Robert Barrett has incorporated it somewhat into other apparatus disclosures. [_]Need to check with W. Mitchell (or B. Weber) if "single stage" PROX via proprietary catalyst is still contemplated as an invention/direction for commercialization. [_]Also need to get disclosure of method of preparing catalyst. [_]Awaiting further instructions and information. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 012 ACTIVE WORKING TITLE: Combination Nickel William Mitchell . Briefly discussed with W. Catalysts in Steam Reformer Mitchell, L. Clawson and J. Bentley on 9/10/97, a new Ni catalyst combination operating in protype reactor in steam reform stage. [_]If protection is to be sought, W. Mitchell to provide W&W with a timely disclosure of compositions, operation parameters, theories of operation and keys to operational success. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ . Per 1/5/98 meeting, W&W advised that key catalyst is no longer available and prototype merchant devise intended for Air Products will not contain the catalyst combination. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 017 ACTIVE WORKING TITLE: Housing for Radial Gunther Kleeberg . W&W has preliminary drawings Flow Reactor for radial- flow small POX housing, need updated disclosure and instructions to proceed to proposed claims and search. [_] W&W should receive updates as appropriate. [_] Awaiting further instructions and information. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 018 ACTIVE WORKING TITLE: Methods And Compositions Christopher Papile . Disclosure received by W&W, For Protecting Low-temperature Shift proposed claims prepared and Catalyst From Condensed Water After discussed with C. Papile on Shut-down of Reactor 9/9/98. [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 019 PENDING U.S. UTILITY APP. Lawrence G. Clawson, . Divisional from 1955 P 007, S/N: 09/184,618 William L. Mitchell, filed November 2, 1998. FILED: 11/2/98 Jeffrey M. Bentley [_] No action by PTO yet TITLE: Apparatus For Converting Johannes H.J. Hydrocarbon Fuel into Hydrogen Gas and Thijssen Carbon Dioxide NOTE: Divisional of 1955 P007 (Group II, apparatus of FIG. 2) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 020 PENDING U.S. UTILITY APP. Lawrence G. Clawson, . Divisional from 1955 P 007, S/N: 09/184,387 William L. Mitchell, filed November 2, 1998; FILED: 11/2/98 Jeffrey M. Bentley . Response to Office Action TITLE: Method For Converting Johannes H.J. Thijssen rejecting all claims was filed, Hydrocarbon Fuel into Hydrogen Gas and a subsequent replacement and Carbon Dioxide NOTE: Divisional information disclosure and of 1955 P 007 (Group telephone interview with examiner was conducted; . Notice of allowance, 12/11/1999; - ------------------------------------------------------------------------------------------------------------------------------------
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- ---------------------------------------------------------------------------------------------------------------------------------- W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ III, methods associated with FIG. 1, . Issue fee paid 1/7/2000; Model A) . Formal drawings submitted. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 021 PENDING U.S. UTILITY APP. Lawrence G. Clawson, . Divisional from 1955 P S/N: 09/184,615 William L. Mitchell, 007, filed November 2, FILED: 11/2/98 Jeffrey M. Bentley 1998; TITLE: Method For Converting Hydrocarbon Johannes H.J. Thijssen . Response to Office Fuel into Hydrogen Gas and Carbon Dioxide Action (rejecting all NOTE: Divisional of 1955 P 007 (Group IV, claims) mailed methods associated with FIG. 2) 10/21/1999; . Final Office Action dated 1/5/2000, received, rejecting all claims; [_]Appeal, CPA, or Reply with amendments to put in better condition for allowance, due without extension fee by 4/5/2000. Six Month deadline is 6/5/2000. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 022 PENDING U.S. UTILITY APP. Lawrence G. Clawson, . Divisional filed S/N: 09/185,393 William L. Mitchell, November 3, 1998. FILED: 11/3/98 Jeffrey M. Bentley [_]Awaiting action by PTO. TITLE: Apparatus For Converting Johannes H.J. Thijssen Hydrocarbon Fuel into Hydrogen Gas and Carbon Dioxide NOTE: Divisional of 1955 P 007 Apparatus according to FIG. 3) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 023 ACTIVE WORKING TITLE: Method For Preferentially William L. Mitchell, . Proposed claims oxidizing Carbon Monoxide in a Christopher Papile prepared and discussed Hydrogen-rich Reformate Stream with C. Papile on (Continuous Replenishment of Oxygen to 9/9/98. Reformate Stream as it Goes Through Prox [_]Awaiting further Bed) instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 024 ACTIVE WORKING TITLE: Apparatus For William L. Mitchell, . Proposed claims Preferentially-oxidizing Carbon Monoxide Christopher Papile prepared and discussed in a Hydrogen-rich Reformate Stream with C. Papile on (Continuous Replenishment of 9/9/98. [_]Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ Oxygen to Reformate Stream as it Goes Through Prox Bed) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 025 ACTIVE WORKING TITLE: Method and Apparatus For Christopher Papile, . Proposed claims Back-flushing Prox Reactors On-line Pai-Yug Woo prepared and discussed (Subject with C. Papile on matter 9/9/98. included in [_] Need to determine if provisional subject matter is to be application carried forward in 1955 P 026) omnibus specification forwarded to B. Nowicki on 12/23/1999, or in a separate application. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 026 PENDING U.S. PROVISIONAL Christopher Papile, . Proposed claims (Provisional) S/N: 60/132,259 Lawrence G. Clawson, prepared and discussed FILED: 5/3/99 William L. Mitchell, with C. Papile on TITLE: Preferential Oxidative Reactor Frank Qi, 9/9/98. Mark Hagan A provisional application filed May 3, 1999 incorporates this invention. . This has been implemented in the general system concept and incorporated into the omnibus specification to be filed as a Utility App. [_] Draft of omnibus specification sent to B. Nowicki on 12/23/1999 for review. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 027 CLOSED WORKING TITLE: Prox Reactor with Active Christopher Papile, . Proposed claims (Subject Cooling (Tube Boiler) Lawrence G. Clawson prepared and discussed matter with C. Papile on incorporated 9/9/98. into . A provisional 1955 P 026) application (1955 P 026) filed May 3, 1999 incorporates this invention. Status pending. . An omnibus specification for a proposed utility application including this invention has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 028 CLOSED WORKING TITLE: Prox and Low-temperature Lawrence G. Clawson, . Proposed claims (Subject Shift Catalyst Beds With Mark Hagan prepared and discussed matter with C. Papile on 9/9/98. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADERS(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ incorporated Shared Tube Boilers . A provisional into 1955 application (1955 P P 026) 026) filed May 3, 1999 incorporates this invention. . An omnibus specification for a proposed utility application including this invention has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 029 ACTIVE WORKING TITLE: Fluidized Bed Prox Reactor Christopher Papile . Proposed claims (Project With Combined Condenser And Separator prepared and discussed No. 93286- with C. Papile on 01 & 8/3/98 9/9/98. [_] Awaiting further instructions - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 030 ACTIVE WORKING TITLE: Reformer Reactor With Heat Christopher Papile . Proposed claims Transfer Between Prox Liquid Fuel And/or prepared and discussed Water with C. Papile on 9/9/98. [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 031 CLOSED METHOD AND APPARATUS FOR DYNAMIC CONTROL Jennifer Rumsey . Proposed claims (Subject OF OXYGEN TO PROX REACTOR Vincent Rizzo prepared and discussed matter Darryl Pollica with C. Papile on incorporated 9/9/98. into 1955 . Rob Davis input was to P 026) be sought. . Updated disclosure has been received with respect to dynamic control for transients (See also, disclosures by J. Rumsey and C. Papile). . An omnibus specification for a proposed utility application including this subject matter has been sent to B. Nowicki for review on 12/23/ 1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 032 ACTIVE WORKING TITLE: Air-cooled Prox With Christopher Papile . Proposed claims Catalyst Supported on Metal prepared and discussed Substrate/monoliths with C. Papile on 9/9/98. [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 033 CLOSED WORKING TITLE: Reformer With Fuel William L. Mitchell, . Proposed claims (Subject Preheater Tube in Shift Zone Lawrence G. Clawson, prepared and discussed matter with W. Mitchell on incorporated 9/9/98. into . A provisional 1955 P 008) application (1955 P 008) filed May 3, 1999 incorporates this invention. Status, pending. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_]NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ . An omnibus specification for a proposed utility application including this subject matter has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 034 CLOSED WORKING TITLE: Reformer Having William L. Mitchell, . Proposed claims prepared and (Subject matter Central Pox Zone Surrounded by Lawrence G. Clawson, discussed with W. Mitchell on incorporated into Annular Shift Zone and Tube Boiler 9/9/98. 1955 P 008) in The Shift Zone . A provisional application (1955 P 008) filed May 3, 1999 incorporates this invention. . An omnibus specification for a proposed utility application including this subject matter has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 035 CLOSED WORKING TITLE: Reformer With Pox William L. Mitchell, . Proposed claims prepared and (Subject matter Surrounded by Annular Steam Reforming Lawrence G. Clawson, discussed with W. Mitchell on incorporated into Zone and Serpentine Flow Relationship 9/9/98. 1955 P 008) From Pox to The Steam Reforming Zone . A provisional application (1955 P 008) filed May 3, 1999 incorporates this invention. . An omnibus specification for a proposed utility application including this subject matter has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 036 ACTIVE WORKING TITLE: Methods And William L. Mitchell, . Proposed claims prepared and (Memo by C. (Some Subject Compositions For Mixing Air/fuel Lawrence G. Clawson, discussed with W. Mitchell on Read, Ref: Matter, /steam For Pox Reaction in Reformer, Johannes Thijssen, 9/9/98 and a preliminary search "93747 and "Tangential Including Disk And Cup-shaped Pox Carole Read of in-house patent collection 34788-14 & Delivery," Has Reaction Chambers And Reactors conducted to shape claim scope. 7/6/98) been Incorporated Embodying Same [_] Need to consider modification Into 1955 P 007 of claims in view of further by Amendment, disclosure by J. Thijssen and And Some Into C. Greene on 9/9/98. Omnibus [_] Awaiting further instructions on disc shape POX chamber (mini POX) and cup shaped POX. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_]NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ Specification To Be Filed) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 037 CLOSED METHOD AND APPARATUS FOR Christopher Papile . Proposed claims prepared and (Subject Matter DYNAMIC CONTROL OF discussed with C. Papile on Incorporated Into REFORMATE TO A PROX REACTOR 9/9/98. 1955 P 026) . Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 038 ACTIVE WORKING TITLE: Methods And Christopher Papile . Preliminary disclosure made to (Project No. Apparatus For Providing Variable W&W by C. Papile, discussed at 93286-01 & Pox Duty (Flow) 9/9/98 meeting. 8/16/98) [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 039 ACTIVE WORKING TITLE: Methods of Fuel Richard A. Sederquist . Disclosure received, read and (none & Desulfurization For Process Fuel understood by W&W 7/29/98) For Hydrogen Generation And . Need to check whether or not Apparatus For Integration With a this subject matter was Fuel Reformer incorporated by ADL into TGC. [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 040 ACTIVE WORKING TITLE: Transient, Cold Start, Christopher Papile . Disclosure received by W&W (Project No. Volume Conserving, Very . A provisional application (1955 93286-01 & (Some of this Low-temperature Shift Reactor P 026) filed May 3, 1999 8/24/98) subject matter partially incorporates this incorporated into subject matter. 1955 P 026) [_] Some of this subject matter (water cooling jacket) has been incorporated in an omnibus specification for a proposed utility application including this invention has been sent to B. Nowicki for review on 12/23/1999. [_] Need to determine if the remaining subject matter should be added to omnibus specification or separate application. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 042 PENDING U.S. PROVISIONAL APP Prassant Chintawar . Disclosure received, read and S/N: 60/132,183 and Craig Thompson understood by W&W. FILED: 5/3/99 . Provisional application filed May 3, 1999. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ TITLE: Low Temperature Water Gs Shift . An updated disclosure Reactor and updated claims were NOTE: (This is the Pt/Zr catalyst idea filed 10/6/99 as a for water-gas-shift reactions) provisional file no. 1955 P 051. [_] Updated specification and updated claims (beyond 1955 P 051) have been prepared and finally reviewed by inventors. Recent prior art reference has caused need for re-evaluations by W&W of claim scope and spec. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 043 ACTIVE WORKING TITLE: MODEL ABC-Reformer With Richard A. Sederquist . Disclosure received, read (none & Reduced POX Gasification Zone and understood by W&W. 8/3/98) NOTE: (Some Of This . A provisional application Subject Matter (1955 P 008)filed May 3, Appears To Have 1999 incorporates a Been Incorporated portion of this subject Into An Omnibus matter. Specification For [_] An omnibus specification Further Filing As A for a proposed utility Utility Application) application including this subject matter has been sent to B. Nowicki for review on 12/23/1999. [_] Need to determine the extent of which Mr. Sederquist's idea has been incorporated into Model B, i.e., is it Model ABC?) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 044 PENDING U.S. UTILITY APP Lawrence G. Clawson, . Divisional filed November S/N: 09/185,325 William L. Mitchell, 3, 1998; FILED: 11/3/98 Jeffrey M. Bentley . Office Action received TITLE: Method for Converting Hydrocarbon Johannes H.J. Thijssen, 12/17/1999, rejecting all Fuel into Hydrogen Gas and Carbon Dioxide claims (only sections 103 NOTE: Divisional from 1955 P 007 (Method and 112); associated with reformer of FIG. 3) . Examiner interview conducted on 2/3/00; . Reply to Office Action filed 2/3/00. [_] Awaiting next Office Action from PTO. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 045 ACTIVE WORKING TITLE: Hydrogenation of Carbon Christopher Papile . Disclosure received, read (11000-TM-002a Monoxide from Anode Exhaust and understood by W&W. & 9/22/98) [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1946 P 046 ACTIVE REFORMER WITH ROTARY POSITIVE Lawrence G. Clawson . Disclosure received, read (11000-TM-003a DISPOALCEMENT COMBUSTION CHAMBER and understood by W&W. & 9/22/98) [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 047 ACTIVE LOW HEAT LOSS MINI-POX REFORMER WITH (Project No. GURAD HEATING BY ANODE EXHASUT Richard A. Sederquist . Disclosure received, read 93286-01 & and understood by W&W. 8/18/98) [_] Awaiting further instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 048 ACTIVE CYCLIC PROX WITH STEAM GENERATION AND Richard A. Sederquist . Disclosure received, read (Project No. REGENERATABLE METAL OXIDE FOR PRODUCTION and understood by W&W. 93286-01& OXIDANT [_] Awaiting further 9/4/98) instructions. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 049 PENDING PCT UTLITY APP. Lawrence G. Clawson, . Filing requirements S/N: PCT/US 99/00833 William L. Mitchell, completed (from P 004). FILED: 1/13/99 Jeffrey M. Bentley, . Published in 8/99. TITLE: Reactor For Producing Hydrogen James C. Cross III . Requested Examination on From Hydrocarbon Fuels 7/21/1999.
12
- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_] NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ gas-shift Converting Carbon Monoxide and Water . This subject matter has reactions, from in a Reformate Stream and Apparatus been carried forward to 1955 P 042) Therefore. 1955 P 052 for filing as a utility application. FILING RECEIPT TITLE: Low Temperature Water Gas Catalyst and Reactor. WORKING TITLE: Method For Producing Hydrogen From Hydrocarbons Using Water Gas Shift Reaction And Apparatus Therefore - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 052 ACTIVE PROPOSED U.S. UILITY APP. WORKING TITLE: Prashant S. Chintawar . To be filed as utility Process for Converting Carbon Dioxide And Craig Thompson application relying on Water in a Reformate Stream And Mark Hagan the priority of pending NOTE: (This is the Apparatus Therefore provisional applications Pt/Zr catalyst idea (1955 P 042 and 1955 P for water-gas-shift 051) May 3, 1999, and reactions) October 6, 1999, respectively (accordingly filing due by May 3, 2000). . Prepared and reviewed by inventors. [_ ] Updated specification and updated claims (beyond 1955 P 051) have been prepared and finally reviewed by inventors. Recent prior art reference has caused need for re-evaluation by W&W of claim scope and specification Due by May 3, 2000, to rely on earliest priority. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 053 ACTIVE PROPOSED U.S. UILITY APP. WORKING TITLE: Lawrence G. Clawson . To be filed as utility Model B Reformer William L. Mitchell application relying on Jeff Bentley priority of provisional (1955 P 008) due May 3, 2000). [_ ] An omnibus specification for a proposed utility application including this invention has - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_]NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 054 ACTIVE PROPOSED U.S. UILITY APP. WORKING TITLE: To be determined. . To be filed as utility Preferential Oxidation Reactor application relying on priority of provisional (1955 P 026) due May 3, 2000). [_] An omnibus specification for a proposed utility application including this invention has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 055 ACTIVE PROPOSED U.S. UILITY APP. WORKING TITLE: William L. Mitchell, . To be filed as utility Tall Gas Combuster Lawrence G. Clawson, application relying on Brian Nowicki, priority of provisional Matthew Dorson (1955 P 008) due May 3, 2000). [_] An omnibus specification for a proposed utility application including this invention has been sent to B. Nowicki for review on 12/23/1999. - ------------------------------------------------------------------------------------------------------------------------------------ 1955 P 056 ACTIVE PROPOSED U.S. UTILITY WORKING TITLE: Lawrence G. Clawson . To be filed as utility Hydrocarbon Reforming System William L. Mitchell application relying on Matthew Dorson priority of provisional Johannes Thijssen applications (1955 p 008 and Robert Davis 1955 P 026) due 05/03/2000. Christopher Papile [_] An omnibus specification for Jennifer Rumsey a proposed utility Nathan Longo application including this James C. Cross, III invention has been sent to Vicent Rizzo B. Nowicki for review on Gunther Kleeburg 12/23/1999. William Rindone Brian Nowicki Stephen G. Block Maria Sun - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_]NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ Brian Morriseau - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 003 PENDING EPO UTILITY APP. A/N: 97939541.5-2111 Lawrence G. Clawson . Filed with EPO associate LODGED: 2/23/99 William L. Mitchell by 2/26/99. TITLE: M&A For Converting Hydrocarbon Jeffrey M. Bentley . Instructions to proceed Fule Into Hydrogen Gas And Carbon Dioxide Johannes H. J. Thijssen with prosecution of NOTE: (Counterpart to U.S. App., 1955 P. Claims 1-41 sent to 002) associate on 12/13/99. [_] Annuity due 8/25/00. - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 005 PENDING JAPAN UTILITY APP. S/N: 10-511780 Lawrence G. Clawson . Forwarded to Japan LODGED: 2/26/99 William L Mitchell associate for filing by TITLE: M&A For Converting Hydrocarbon Jeffrey M. Bentley 2/26/99. Fuel Into Hydrogen Gas And Carbon Dioxide Johannes H.J. Thijssen [_] Deferred examination due NOTE: (Counterpart to U.S. App., 1955 P 2/26/2006. 002) - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 006 PENDING CANADA UTILITY APP. Lawrence G. Clawson . Forwarded to Canada S/N: 2,265,468 William L. Mitchell associate for filing LODGED: 2/24/99 Jeffrey M. Bentley 2/26/99; TITLE: M&A For Converting Hydrocarbon Johannes H.J. Thijssen . Request for Examination Fuel Into Hydrogen Gas And Carbon Dioxide authorized on 3/30/00; NOTE: (Counterpart to U.S. App., 1955 P [_] Annuity due 8/25/2000. 002) - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 008 PENDING CHINA UTILITY APP. Lawrence G. Clawson . Forwarded to China S/N: 97197471.3 William L. Mitchell associate for filing by LODGED: 2/26/99 Jeffrey M. Bentley 2/26/99. TITLE: M&A For Converting Hydrocarbon Johannes H.J. Thijssen . Examination requested on Fuel Into Hydrogen Gas and Carbon Dioxide 8/26/99. [_] Registration in Hong Kong due 3/15/2000. . Application published 2/26/99. - ------------------------------------------------------------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------------------------------------------------------------ W&W FILE STATUS PROJECT DESCRIPTION OR INVENTOR(S) OR .FILE HISTORY FILE NO. APPLICATION INFORMATION PROJECT LEADER(S) [_]NEXT ACTION (ADL ROI No., Case No., or Project No. & Date of trst provable act) - ------------------------------------------------------------------------------------------------------------------------------------ NOTE: (Counterpart to U.S. App., 1955 P 002) - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 009 PENDING KOREA UTILITY APP. Lawrence g. Clawson . Forwarded to Korea S/N: 99 ###-###-#### William L. Mitchell associate for filing LODGED: 2/26/99 Jeffrey M. Bentley 2/26/99. TITLE: M&A For converting Hydrocarbon Johannes H. J. Thijssen [_] Request for Examination due Fuel Into Hydrogen Gas And Carbon Dioxide 8/25/2000. NOTE: (Counterpart to U.S. App., 1955 P 002) - ------------------------------------------------------------------------------------------------------------------------------------ 1973 P 011 PENDING AUSTRALIA UTILITY APP. Lawrence G. Clawson . Forwarded to Australia S/N: 41610/97 William L. Mitchell associate for filing LODGED: 8/25/97 Jeffrey M. Bentley 2/26/99 TITLE: M&A For Converting Hydrocarbon Johannes H.J. Thijssen [_] Response to Official Fuel Into Hydrogen Gas and Carbon Dioxide Report due 8/04/2000. NOTE: (Counterpart to U.S. App., 1955 P [_] Maintenance fee due 002) 8/25/2002. - ------------------------------------------------------------------------------------------------------------------------------------
16 NuVera Confidential Exhibit D [LOGO OF NUVERA FUEL CELLS] Operating Plan April 1, 2000 - October 1, 2001 April 5, 2000 Private and Confidential Page 1 Table of Contents 1 Executive Summary.................................................................................. 3 1.1 Technology Development and Refinement.............................................................. 3 1.1.1 MicroPower(TM) Market........................................................................... 3 1.1.2 Transportation Market........................................................................... 3 1.1.3 Directed Use of Internal........................................................................ 4 1.1.4 Detailed Development Plans...................................................................... 4 1.2 Production and Testing Plan........................................................................ 4 1.3 Market Strategy.................................................................................... 5 1.3.1 Strategic alliances with Tier 2 and Tier 3 suppliers............................................ 5 1.3.2 MicroPower Market............................................................................... 5 1.3.3 Transportation Market........................................................................... 6 1.4 Marketing Plan...................................................................................... 6 1.5 5 Year Business Plan............................................................................... 6 2 Market Development Plan............................................................................ 7 2.1 Overall NuVera Strategy............................................................................ 7 2.2 Resource Requirements Summary...................................................................... 8 2.3 Overall Market Strategy............................................................................ 9 2.4 Product and Technology Plan: Q1 2000 to Q3 2001.................................................... 11 2.4.1 MicroPower Products............................................................................. 11 2.4.1.1 Market Opportunity Focus...................................................................... 11 2.4.1.2 Overall Objectives - MicroPower Residential Systems........................................... 12 2.4.1.3 Overall Objectives - MicroPower Premium/Portable Systems...................................... 13 2.4.1.4 Overall Objectives Hydrogen Recovery Systems.................................................. 14 2.4.2 Transportation.................................................................................. 15 2.4.2.1 Market Opportunity Focus...................................................................... 16 2.4.2.2 Overall Objectives - Fuel processor........................................................... 16 2.4.2.3 Overall Objectives - Fuel Cell Stack Development.............................................. 17 2.4.3 Technology Development.......................................................................... 18 2.4.3.1 Overall objectives - Fuel processor........................................................... 19 2.4.3.2 Overall Objectives - Fuel Cell Stack Development.............................................. 19 2.4.4 Marketing Plan.................................................................................. 21 2.4.5 Pricing Policy.................................................................................. 22 2.4.6 Sourcing of Strategic Components and Technologies............................................... 23 2.5 Administration and Business Support................................................................ 24 2.5.1 Key Activities-Yr. 2000 Business Support........................................................ 24 2.5.2 Business Support Function Discussion............................................................ 25 2.5.2.1 Finance....................................................................................... 25 2.5.2.2 Human Resources............................................................................... 26 2.5.2.3 Contracting................................................................................... 26 2.5.2.4 Information Technology........................................................................ 26 2.5.2.5 Purchasing and Material Control............................................................... 26 2.5.2.6 Administration and Miscellaneous Support...................................................... 27 2.6 Risks and Risk Management.......................................................................... 28 3 Organizational Integration and Growth Plan......................................................... 29 3.1 Personnel Plan..................................................................................... 29 3.1.1 North America Operations........................................................................ 29 3.1.2 European Operations............................................................................. 29
Page i 3.2 Technology Exchange Program........................................................................ 30 3.3 Facilities and Location............................................................................ 31 3.3.1 North America Operations........................................................................ 31 3.3.2 European Operations............................................................................. 31 4 Financial Overview................................................................................. 32
Page ii NuVera Confidential 1 Executive Summary This strategic overview summary outlines the objectives to be pursued in the 18 months following the Definitive Agreement of constitution of NuVera in order to implement the technological and business mission of the Company with the objective to prepare it for an IPO. Upon approval of this document the selected teams will proceed with the preparation of a 5 year Business Plan. The primary mission of DNE will be the development of multifuel power modules. Power modules are the core technology package that can be further integrated into fuel cell systems for various applications by systems integrators. Power modules cannot be properly conceived without developing system integration expertise: in order to pursue such knowledge, NuVera will also develop and manufacture, within the timeframe, fully integrated fuel cell systems for internal and field demonstration 1.1 Technology Development and Refinement This will be the top priority of the Company in the 18 month period and will focus on the following mission statements: . DEVELOPMENT AND MANUFACTURE WORLD CLASS COMMERCIAL MULTIFUEL FUEL PROCESSORS AND STACKS (HYDROGEN AND REFORMATE OPERATION) FOR MICROPOWER AND MOBILE APPLICATIONS . DEVELOP EXPERTISE FOR INTEGRATION OF FUEL PROCESSORS AND STACKS IN POWER MODULES AND/OR FULLY INTEGRATED UNITS (DIRECTLY OR WITH EXTERNAL TECHNOLOGICAL PARTNERS) In particular, these are the key objectives to be achieved: 1.1.1 MicroPower(TM) Market 1) RESIDENTIAL SECTOR: Design manufacture and test of 100, 5kW - class MicroPower prototype units for residential markets of interest in the near term. 2) PREMIUM/PORTABLE POWER SECTOR: Design manufacture and test approximately ten one kW - class prototype units for portable power applications of interest in the near term. 3) COMMERCIAL/INDUSTRIAL SECTOR: implement system studies, develop stacks and system integration expertise (with selected industrial partners) for applications of hydrogen recovery (industrial cogeneration). System studies will include the commercial building market up to 100 kW. 1.1.2 Transportation Market Develop and demonstrate fuel processors and stacks for mobile applications in the frame of funded projects. Page 3 NuVera Confidential 1.1.3 Directed Use of Internal Funds The technology development in the MicroPower sector (up to 5kW) is considered of main strategic importance for the Company and will be funded by the Company directly or indirectly. Some funding will available from the ongoing projects and commercial sales of stacks, fuel processors, prototype power modules and/or fully integrated prototype systems. All the improvements and demonstrations in the transportation sector will be implemented if funding of 50% or more is available from OEM or government projects (DOE, EU, Governments) and if such developments bring technical advantages to the strategic focus in the MicroPower sector. The objectives will essentially be the "integrated results" of the ongoing projects that DNFC and EPYX have with OEM, car manufacturers or as foreseen by the already ongoing DOE/EU contracts. Particular care will have to be taken in order to fully protect the intellectual property when participating/implementing non-internally funded projects. 1.1.4 Detailed Development Plans Three documents will be available that incorporate the operating guidelines to achieve the strategic objectives outlined above: 1) Technical Development Plan: will detail the development milestones, costs and resources to develop fuel processing units and stacks (hydrogen and reformate operation); 2) MicroPower Plan: will detail the development milestones, costs and resources for system integration and demonstration of alpha units for premium/portable (approximately 1&5kW), residential (approximately 5kW) applications, industrial applications (pure hydrogen operation) and system studies for Commercial Building sector; 3) Transportation Plan: will detail the development milestones for fuel processors and stacks for transportation applications as supported by ongoing and planned privately and publicly funded demonstration projects. It is intended that the development work will be carried our in Boston and in Milan as separate locations with integrated business and technology organizations. In order to facilitate the integrated work of the teams a detailed Organization and Technology Exchange Plan will be jointly developed. 1.2 Production and Testing Plan A detailed production and testing plan will be implemented for the procurement of parts, assembly and testing of the prototype fuel processors, stacks and systems to be produced within the timeframe. An overview of this plan will be included in the 5 year business plan, and will include discussion on the MicroPower systems manufacturing facility. Page 4 NuVera Confidential 1.3 Market Strategy 1.3.1 Strategic alliances with Tier 2 and Tier 3 suppliers In order to implement the technological development plan strategic suppliers/partners in Europe, the U.S, and Far East will be identified and implemented at the Tier 2&3 level. These partnerships will be such that they may be continued at the fuel cell system manufacturing stage: Tier 2 Suppliers: Power electronics developers/supplier Tier 3 Suppliers: Fuel processor suppliers of key components and Stack key component suppliers 1.3.2 MicroPower Market Market sectors: Premium/Portable, Residential - -------------- Supply of fuel cell systems with Partners as follows: . Fully integrated systems to Marketing Partners . Power Modules (fuel processors and stack integrated) and integration expertise (if required) to system integrators/packagers (OEM's in the MicroPower power sector) In principle, no separate supply of fuel processors and /or stacks will be pursued in the MicroPower power sector except where supply will create business advantage (i.e. NPS) or increase technology or manufacturing expertise without reducing the NuVera technology and market development efforts. In all MicroPower markets NuVera will first pursue the use of integrated NuVera fuel cell power systems. Territories: US, Europe, Far East - ----------- Market sector: Commercial/Industrial - ------------- . Supply of hydrogen stacks to selected industrial partners . Market and system integration studies Territories: US, Europe, Far East - ----------- Based on the above, the following actions will be implemented: . Identification and prioritization of portable/residential/industrial power market sectors in the Territories . Identification of potential marketing /packaging/manufacturing Partners in US and Europe . Definition/ implementation of key Partnerships before the IPO . Support to the Technology Development Group: . Definition of system technical specifications/ system performances for major markets . System cost analysis for major markets Page 5 NuVera Confidential . Analysis of Codes and Standards and participation in their development 1.3.3 Transportation Market Market sectors: Light-Duty Vehicles, Heavy-Duty Vehicles, APU's, Non-Road - -------------- Transport Supply to OEM's as follows: . Feasibility studies . Fuel processors and stacks . Fuel processor/stack integration expertise . Following the specifications defined by the OEM's and car manufacturers in the frame of privately/publicly funded projects. Territories: US, Europe, Far East - ----------- 1.4 Marketing Plan The objective will be to create market awareness, establish the position as Fuel Cell Power System Company, and to prepare NuVera for an IPO. This objective will be achieved as follows: . A professional in the communication sector will be identified to guide the Communication Strategy before, during and after the IPO . Preparation of Company promotional material/web site . Attendance at high visibility conferences and Trade Shows . Implementation of the Technology Plans through on site demonstration of fully integrated prototype units . Announcement of upstream/downstream strategic partnerships implemented in the period 1.5 5 Year Business Plan Upon approval of this document, selected teams will proceed with the preparation of a 5 year Business Plan to be used for the IPO. Page 6 NuVera Confidential 2 Market Development Plan 2.1 Overall NuVera Strategy DeNora Fuel Cells and Epyx have separately developed fuel cells and fuel processors for nearly a decade. Both have a worldwide reputation. Epyx has a high profile reputation as an innovator in fuel processing, but customers need to be convinced that Epyx fuel processors can be simply integrated into fuel cell systems in a cost effective manner. DeNora Fuel Cells's fuel cell product has been integrated into hydrogen-based power systems worldwide and DeNora Fuel Cells's reputation for producing quality industrial electrochemical equipment has been successfully transferred to DeNora Fuel Cells Fuel Cells. Both companies have concluded that further market development now clearly demands that we be positioned to develop and produce completely integrated power modules. These integrated power modules would represent the core competence of the company and access to markets will rely in the establishment of partnerships with system integrators and /or marketing partners. In order to seek attention from the various already established market channels, it will be necessary to demonstrate fully integrated systems. The selected strategic sectors where the Company will demonstrate such fully integrated systems are represented in the MicroPower area by the residential and Premium/portable sectors. In the industrial sector, wherever hydrogen is available to be economically recovered as energy, the Company will act as supplier of high-power hydrogen stacks to selected industrial partners. In the commercial sector the Company will implement market and system integration studies. The development of fuel processors in the range of 50kW and above, necessary to follow the above described strategy in the Commercial sector is not currently seen as key strategic focus in the timeframe of the 18 month plan. In the automotive sector, the Company will maintain its leadership position as developer/ supplier of fuel processors and fuel cell stacks. Access to capital via an IPO is clearly achievable given the market response to public fuel cell competing companies. In preparation for the IPO a comprehensive 5 year business plan will be developed during the timeframe. As we establish NuVera, additional resources will be required to accomplish our aggressive business plan and an integrated technology development effort. The major milestones for the next 18 months are focused on the development and demonstration of products for the Stationary MicroPower system market and preparing the company for an IPO. The Technology Development Group will play a critical role in developing state-of-the-art fuel processing reactors and reformate tolerant stacks for the MicroPower market, while the Transportation Group will continue to work in a stepwise fashion with automotive OEM's to further the NuVera working relationships. This process is shown schematically in Figure 2.1. Page 7 NuVera Confidential Figure 2.1. Year 2000/2001 Overall Strategy and Business Milestones Q2 '00 Q3 '00 Q4 '00 Q1 '01 Q2 '01 Q3 '01
MicroPower Generation Ship 100 Prototypes 1st Gen. 2nd Gen. 3000 3rd Gen. 7000 4th Gen. 1000000 System System Hours System Hours System kW-hr Residential Systems (5 kW) Hydrogen Propane 4000 Propane System System Hours System Premium Systems (1kW) 240 kW Stack 4000 60 kW Delivery Hours Industrial Hydrogen Recovery Transportation Customer Laboratory Testing/Vehicle Demonstrations Advanced 1st Gen. Advanced 4000 Advanced Prototype System Prototype Hours Prototype Fuel Processing Deliver Advanced High Performance Prototypes Design 30 kW Prototype Vehicle Fuel Cells Business Milestones Marketing H\\2\\ U.S. & Europe Japan Residential Finalize new Open Launch of Partner Residential Partner & Key Manufacturing/ Manufacturing "NewCo" Partner(s) Suppliers Corporate Site Facility
2.2 Resource Requirements Summary Table 1.1: NuVera' Resource Requirements Summary for the 18 months
- ------------------------------------------------------------------------------------------------------------------------ N. America Currently Required Additional Total 18 Months Available - ------------------------------------------------------------------------------------------------------------------------ Total Staff 58 91 149 - ------------------------------------------------------------------------------------------------------------------------ Office Space m/2/ 1,486 930 2,415 - ------------------------------------------------------------------------------------------------------------------------ Lab space m/2/ 650 1,765 2,415 - ------------------------------------------------------------------------------------------------------------------------ Funding $11.8M $39.4M $51.2M - ------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------ Europe Currently Required Additional Total 18 Months Available - ------------------------------------------------------------------------------------------------------------------------ Total Staff 18 36 54 - ------------------------------------------------------------------------------------------------------------------------ Office Space m/2/ 130 170 300 - ------------------------------------------------------------------------------------------------------------------------ Lab/prod. space m/2/ 380 770 1,150 - ------------------------------------------------------------------------------------------------------------------------ Funding $3.8M $10.9M $14.7M - ------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------ TOTAL Currently Required Additional Total 18 Months Available - ------------------------------------------------------------------------------------------------------------------------ Total Staff 76 127 203 - ------------------------------------------------------------------------------------------------------------------------ Office Space m/2/ 1,616 1,100 2,715 - ------------------------------------------------------------------------------------------------------------------------ Lab/prod. m/2/ 1,030 2,535 3,565 - ------------------------------------------------------------------------------------------------------------------------ Funding $15.6M $50.3M $65.9M - ------------------------------------------------------------------------------------------------------------------------
Page 8 NuVera Confidential 2.3 Overall Market Strategy As shown in Figure 2.2, the fuel cell industry is developing into three tiers of supply to the ultimate OEM customer. NuVera will seek different positions in the value chain in each of the target markets as described below. In all markets, we expect to rely on a common base of Tier 3 component suppliers. For fuel cell stacks, the key electrode supplier is DeNora Fuel Cells North America. Cooperative agreements will be pursued with membrane suppliers worldwide. Additional interactions will be developed with mass manufactures of bipolar plates and gasketing materials. In fuel processing, we have identified many Tier 3 partners such as Coming, Degussa, Eaton, and Siemens, and are finding that with NuVera' guidance, their existing technology can be migrated to new components that meet the unique requirements of compact fuel cell power systems. Wherever possible, the Company will negotiate favored terms of commercial supply and/or alliances from leading Tier 3 suppliers to provide NuVera with access to these components on a preferred basis for early markets. Our joint development agreement with Corning Corporation for advanced fuel processor catalyst supports is an example of this type of agreement. Figure 2.2. Fuel Cell System Value Chain Tier 3 Tier 2 Tier1 Component Sub-System Fuel Cell System Supplier Supplier Supplier --------------- Materials --------------- --------------- Fuel Processing --------------- Systems --------------- --------- Controls --------------- --------------- --------------- System OEM --------------- Fuel Cells Integration Heat Exchangers --------------- --------- --------------- --------------- --------------- --------------- Power Compressors Electronics --------------- --------------- --------------- Membranes Electrodes --------------- For the MicroPower market (residential, premium/portable), NuVera will be directly focused on becoming a Tier 1 integrator. Late in 2000, the Company will include OEM's as the channel to market in the U.S., Europe, and the Far East. In the industrial hydrogen recovery sector, the Company will act as Tier 2 sub supplier of fuel cell stacks to industrial partners for integration into fuel cell power systems for deployment in niche industrial applications where hydrogen is available. For transportation markets, NuVera will continue to work as a fuel cell stacks or fuel processing technology supplier with Tier 1 integrators and automotive OEM's as partners Page 9 NuVera Confidential Figure 2.3 and 2.4 shows all of the NuVera markets, and indicates that in 2000 NuVera will focus on the following sectors: 1. Residential MicroPower fuel cell power systems for world wide markets (with a focus on N. America and Europe) 2. Premium MicroPower fuel cell systems (with a focus on the industrial equipment market) 3. Hydrogen Recovery for industrial applications 4 . Passenger car fuel processors or fuel cells Figure 2.3 NuVera Market Strategy - -------------------------------------------------------------------------------- Market Strategy - -------------------------------------------------------------------------------- Residential Complete Fuel Cell --------------------- Power Systems Premium/portable (with partners) MicroPower ------------------------------------------------------------ System Studies Potentially Leading Commercial to complete power systems ------------------------------------------------------------ Hydrogen Fuel Cell Supplier Recovery - -------------------------------------------------------------------------------- Light Duty Fuel Cell or Fuel Processor Transporation --------------------- Technology Supplier Heavy Duty - -------------------------------------------------------------------------------- Page 10 NuVera Confidential Figure 2.4. Year 2000/2001NuVera Market Focus - -------------------------------------------------------------------------------- Market/Region North America Europe Far East - -------------------------------------------------------------------------------- Residential [_] [_] ---------------- Premium/portable [_] [_] -------------------------------------------------------------- MicroPower Commercial -------------------------------------------------------------- Hydrogen Recovery [X] - -------------------------------------------------------------------------------- Light Duty [X] [X] [X] ---------------- Transportation Heavy Duty - -------------------------------------------------------------------------------- 2.4 Product and Technology Plan: Q1 2000 to Q3 2001 This section describes the actions the Company will take to develop the prototype products, technology and customer relationships needed to support the overall NuVera 18-month operating plan. 2.4.1 MicroPower Products The objective of the NuVera MicroPower business is to create fuel cell system prototype and stacks with near-term market interest. 2.4.1.1 Market Opportunity Focus This market is comprised of applications in the following size ranges: . Premium/Portable MicroPower (500 W to 10 kW): Recreation, RVs, yachts, power hand tools, telecom backup, remote power generation, home backup, portable military field units, remote sensors. This market has attributes of either high allowable cost equipment, high quality power, or both. Page 11 Nuvera Confidential . Residential MicroPower (3 kW to 15 kW): Home power generation, cogeneration (combined heat and power), and backup power. . Commercial MicroPower (up to 50 kW): Commercial distributed generation, cogeneration, microturbine replacement. . Hydrogen Recovery (up to I MW): Pure hydrogen fuel cell systems for use with waste hydrogen streams such as chlor-alkali plants, hydrogen off-gassing from industrial plants, etc. Near-term (2001) applications include uninterruptible power supply (UPS), on- site telecommunications power supply, and other remote power generation systems that compete with engine generators, batteries, micro turbines, and solar technology. Long-term (2005) applications include industrial and consumer electronics and recreational power systems, and grid-based applications such as residential and commercial power supply and cogeneration. 2.4.1.2 Overall Objectives - MicroPower Residential Systems The following key milestones have all been identified as necessary to support NuVera mission to commercialize fuel cell power systems. . Design and build filly integrated fuel cell power systems that operate on widely available fuels. In order to develop practical power generators that achieve the necessary performance characteristics, fuel cell systems must be highly integrated. As a result, it is essential that NuVera design, build and demonstrate optimized fuel cell power systems--not just advanced fuel processing technology or hydrogen fueled fuel cell stacks. As a first step, Epyx fuel processing systems will be connected to currently available DeNora Fuel Cells for prototype testing. Based on the results of these tests, fully integrated, skid packaged prototypes will be built to demonstrate performance using embedded controls. Attention will be paid at this stage to industrial design considerations and creating the look and feel of a thoughtfully designed commercial appliance. . Accumulate thousands of hours of operation on NuVera state-of-the-art fuel processors, fuel cells, and fuel cell power systems. A key performance characteristic of any fuel cell system is durability. DeNora Fuel Cells have already shown superior technical performance in a variety of applications, while Epyx has demonstrated fuel processing systems with outstanding efficiency and low criteria emissions, operating on "strategic" fuels (gasoline for automotive applications, and natural gas and propane for MicroPower applications). DeNora Fuel Cells and Epyx have recently begun durability testing on their respective fuel cell and fuel processor subsystems. As a unified company, NuVera will put a statistically significant number of the integrated MicroPower fuel cell power systems it develops on long-term test as well. Strategic partners who lease NuVera systems will be required to operate the units for a specified and substantial amount of time during the term of their contract. Furthermore, a primary objective of the field test demonstrations planned for 2001 will be to gather durability data under realistic operating conditions. Page 12 Nuvera Confidential By mid-2001, NuVera systems will have achieved 1,OOO,OOO kilowatt-hours on delivered systems. . Pro-actively develop system specifications based on market analysis and code requirements. There are myriad opportunities to develop commercially viable power generating appliances and other products incorporating fuel cells. To date, both DeNora Fuel Cells and Epyx' relationships with potential product developers has essentially been in the role of supplier. As a developer of fully integrated, stand-alone fuel cell power systems, however, NuVera will be in a position to identify promising commercial opportunities based on market analyses and assessments of the capabilities of the systems it develops. The three target market areas are premium, residential, and commercial MicroPower generation in capacities ranging from 500 W to 50 kW. NuVera MicroPower fuel cell power system product specifications will be driven in part by requirements detailed in the codes and standards relevant to the application. A key milestone for 2001 will be appropriate agency certification (i.e., UL approval). Since building construction and other codes lag considerably behind fuel cell technology development, NuVera will actively engage in the formulation of codes and standards. By so doing, the company will have the opportunity to eliminate unnecessary regulatory constraints, emphasize specific technologies or create a niche for certain applications, and educate others participating in the codes development process. . Develop strategic alliances, especially residential system marketing partners in the U.S., Europe and Japan. As a technology development company, NuVera is not in a position to rapidly introduce fuel cell power systems to a mass market. Therefore, NuVera will team with major appliance manufacturers to develop products for MicroPower power generation markets-first in the U.S., followed by Europe and later by Japan. . Establish the test and manufacturing facilities and infrastructure required for building standardized prototypes. By the first quarter of 2001, NuVera will have built, tested and field deployed up to one hundred fully integrated fuel cell power systems. Accomplishing this objective will require significant expansion of the facilities currently available for build and test activities. It will also require the development of internal resources adequate to cope with increasingly complex issues of planning, purchasing, materials handling, inventory and quality control. Building multiple systems also affords the opportunity to significantly reduce fabrication costs by adopting processes suitable only at higher manufacturing volumes. 2.4.1.3 Overall Objectives - MicroPower Premium/Portable Systems . Design and build filly integrated fuel cell power systems that operate on widely available fuels. Both hydrogen and fuel processor power modules in the 1 kW power range will be developed that serve as a "front end" to standardized power electronics units that supply AC output. Page 13 Nuvera Confidential Subsequently, fully integrated systems using the same basic reactor components and reformate-tolerant fuel cells will be developed. These tightly packaged fuel cell power systems will share thermal, air and water management strategies and components, a common control system, and integrated power electronics. Their final design will be determined by their envisioned application; it is likely that different applications will dictate significantly different packaging solutions. The selected partners will help to define system packaging for the various potential applications. . Accumulate thousands of hours of operation on DeNora Fuel Cells Epyx state-of-the-art fuel processors, fuel cells, and fuel cell power systems. By late-2000, NuVera hydrogen and propane premium power units will have achieved 4,000 hours of operation. 2.4.1.4 Overall Objectives Hydrogen Recovery Systems The objective of the DNE hydrogen recovery business is to demonstrate hydrogen stacks at the 60 kW power level and to partner with industrial gas/energy providers to create fuel cell stack sales opportunities with near-term market interest. The following key milestones have been identified as necessary to support NuVera mission: . To develop and fine tune the hydrogen stacks at the 6OkW level In the frame of project funded by the European Commission, NuVera has developed hydrogen stacks prototypes capable to deliver up to 60kW of power. In the course of year 2000 NuVera will deliver 24OkW of high power hydrogen stacks. Such stacks will be demonstrated in an industrial plant where spare hydrogen is available. At laboratory level, NuVera will continue to fine-tune the stack configuration to make it fully functional for industrial assembly and operation in an industrial environment. Such stacks may also be used in the heavy vehicle hydrogen based applications (city buses). . Find an industrial partner for integration of hydrogen stacks and fuel ceil systems commercialization During the year 2000, NuVera will identify an industrial partner that will have system integration expertise and will be strategically positioned in the industrial /energy market . NuVera will offer technical support at stack level in the system integration process and will jointly seek an opportunity to have an industrial site where the stack can begun durability tests in an industrial environment. Page 14 NuVera Confidential Figure 1.4. Year 2000/200l Micro-Power Product Development Milestones [TABLE] BTU = Beta Test Unit 5 k W fuel processor natural gas and propane CTU = 5 k W high-efficiency natural gas fuel system DTU = 1.5-5 k W heavy fuels system ETU = Pre-Commercial Prototype FCPS = Fuel Cell Power System (fuel processor integrated with fuel from partner) LFO = Kerosene 2.4.2 Transportation The overall objective of the Transportation Group is to secure a technology ---------- leadership position in the transportation fuel processing/fuel cell market. ---------- This will enhance the value of the company and help our MicroPower business with appropriate technology transfer. We will achieve this leadership position by using our ongoing government programs for technology development and our commercial programs with major OEM's to create visibility and credibility. We will deliver multiple subsystems or complete systems to the government sponsors and commercial partners this year. A strong interaction with car manufacturers and other Tier I suppliers will be pursued since their capability to mass-produce and reduce component cost (key requirements of a car components) is invaluable to NuVera. Furthermore these relationships will provide us with insight into the technical specifications for the subsystems that can completely fit the requirements of compactness, efficiency, reliability, Page 15 NuVera Confidential recycability of the future car industry. On the other side, the government programs for the development of low polluting devices provide visibility and substantial funding; therefore, the good relations obtained with DOE by Epyx and with EU and ENEA (respectively European Union and Italian agency for energy) by DNFC will be strengthened. 2.4.2.1 Market Opportunity Focus The transportation market opportunities for fuel cell systems are: . Low Dower mobile systems (* 5 kWe): These systems will be used to ---------------------------------- drive small mobile units like scooters, golf carts, utility vehicles etc,. . Auxiliary Power Units (* 15 kWe): These power supplies will be used to -------------------------------- provide auxiliary power to support air conditioning, power steering and other on-board applications for passenger cars, heavy duty busses and trucks. . Automotive Fuel Cell Power System (30-90 kWe): These systems will --------------------------------------------- replace the internal combustion engine in passenger vehicles as lean power systems or as a part of a hybrid strategy. . Heavy Duty Fuel Cell Power Systems (90-250 kWe): These systems will be ----------------------------------------------- used in heavy-duty trucks and buses as the main power source. 2.4.2.2 Overall Objectives - Fuel processor . Design, build and deliver prototype fuel processing systems to OEM's. NuVera will build and deliver 4-520 kWe gasoline fuel processing systems to OEM customers. The objective of t&se programs is to increase our visibility in the automotive industry and demonstrate our expertise in fuel processing to the OEM's. This is a first step towards developing a long-term relationship with these companies. . Plug Power/GM, Toyota, Renault/PSA, Volkswagen, Epyx . Integrate fuel cell power systems and develop system expertise. NuVera will design and build two fuel cell power systems. These programs will enhance our system knowledge and potentially lead to critical intellectual property rights. The ability to operate full systems will help us design better reformers, CO clean up devices and tail gas combustors. In addition, these systems will be used as demonstration units with potential partners or investors. . DOE Program (SFAA) - 10 kWe . DOE Program (PRDA and SFAA)- 50 kWe . Epyx Internal 30-50 kWe . Advance fuel processing technology to the next level. NuVera will design and build the next generation Epyx 50 kWe fuel processing systems. This system will incorporate advances in catalysts, heat exchangers and other system integration improvements that have been achieved over the last two years. It is expected that we will supply one or two of these units to OEM's in addition to our PRDA program deliverable to the Department of Energy. This 50 kWe system will play a very crucial role in enforcing our excellence in fuel processing technology for automotive applications. In addition we will complete the design of another 50 kWe fuel processing system that will incorporate the technology developed in our government programs. . DOE Program and Automotive 50 kWe 6)32278 051 . Phase II Volkswagen and Renault, GM * less than Page 16 Nuvera Confidential . Explore the heavy-duty bus market as a potential market for our systems. Currently we are exploring the possibility of starting a fuel cell bus program with multiple interested companies. In these programs, we will design and build systems or subsystems to be integrated in a fuel cell bus. This program, will provide us the ability to explore the bus market, which eventually may be a near term market for our systems. . Toyota and Robert Wright 2.4.2.3 Overall Objectives - Fuel Cell Stack Development . Design, build and deliver small power prototype fuel cell stack to OEM's. We will deliver 4 - 5 FC stacks in the power range of 5 - 7 kW to be integrated in small electric vehicles and to be tested on laboratory benches. This unit will act as range extender or battery charger of the battery vehicles. These vehicles can be considered "service vehicles" to be used in restricted area such as airports, exhibitions, or "city cars" to be used downtown in European cities. . FIAT 600 electra project for 2 range extender demonstration vehicles . EU project "Velapac" for 2 range extender demonstration vehicles . ENEA project "MURST 5%" for 10 kW stack coupling with FP (contract still to be signed) . Design, build and deliver prototype fuel cell stack for car integration to OEM's. We will deliver two FC stack packages in the range of 30 to 50 kW each to be installed in prototype vehicles where all or at least most of the traction power is coming from hydrogen fuelled stacks. . VW project for 50 kW stack . EU project "Hydro-gen" for 30 kW stack supply to PSA (Peugeot- Citroen) . Design, build and deliver prototype fuel cell stack for bus integration to OEM's. We will deliver two FC stack packages to be installed in prototype buses (pure FC and hybrid configuration will be addressed). Pure hydrogen feeding is foreseen in the two projects. . EU project "FC-BUS" for 60 kW stack supply to Scania . EU project "Berlin Bus" for 120 kW stack supply to Air Liquide and MAN (contract still to be signed) . Design and build a new generation of fuel cell stack hardware. We will design a new stack. This design will take into consideration the requirements of car manufacturers in terms of allowable dimensions, geometrical constraints and electrical parameters to ease power electronics coupling. This new stack configuration will de designed to meet the power density targets. . Today it is a internal activity to be launched in 2nd quarter of Y2000, although funding may be secured from a DOE contract that is currently underway at NuVera. . Improve system knowledge through detailed studies. We are supporting a wide analysis effort for a major automotive OEM. This study will approach the various aspects related to the introduction of fuel cell technology in cars such as development, industrialization, cost analysis, and recycling. This program will give us the opportunity to build strong relations with automotive OEM's. Furthermore in Y2000 a 4-year Italian program should start, in this scenario the development and testing activities of NuVera will be greatly interrelated with Fiat. . PSA/Renault phase 0 project Page 17 NuVera Confidential . Corivarnia Italian program (contract still to be signed) Figure 2.5. Year 2OO0/2001 Transportation Development Milestones [TABLE] SFAA = DOE Advanced Components Program(1999-2000) PRDA = DOE Gasoline Fuel Processor Program (1998-2000) ANL = DOE Argonne National Laboratory 2.4.3 Technology Development The objective of the Technology Development Group (TDG) is to support NuVera business initiatives in the MicroPower and Transportation markets. "Support" means relentless pursuit of innovations which strengthen NuVera's ability to introduce and commercialize products. The necessary innovations will answer to market-driven specifications, which may be grouped into three classes as follows: . Acceptance: if these are not met, products will not meet the fundamental ---------- requirements of the application and cannot be sold . Performance: if these are not met, we retain functionality but lose ----------- competitive edge . Reliability: if these are not met, we lose functionality and credibility ----------- Page 18 NuVera Confidential These groups also provide a convenient means for segmenting the TDG program portfolio. The following table summarizes key system attributes which fall into each specification class: ----------------------------------------------------------------------- Acceptance Performance Reliability ----------------------------------------------------------------------- . Fuel . Efficiency . Feed water quality . Cost . Emissions . Reformate quality . Capacity . Responsiveness . Structural integrity . Size/weight . Startup time . Catalyst stability . Environment . Turndown range . No nitrogen purge ----------------------------------------------------------------------- NuVera will extend the reach of our fuel processing capability by designing and demonstrating next generation systems for MicroPower and transportation markets. These activities are already underway, funded almost entirely by cost-shared government grants. All of our R&D efforts are proven by integration into one or more fuel processing system prototypes. Technology development programs also provide the basis for NuVera to identify and integrate necessary components from Tier 3 suppliers. An overarching goal of these thrusts focused on "value creation" is the embellishment of NuVera's intellectual property portfolio. Accordingly, we have set as a specific goal the filing of fifty patent applications in year 2000 in fuel processing and systems alone. 2.4.3.1 Overall objectives - Fuel processor . Demonstration of an integrated ATR reactor train/heat recovery module, leading to a reduction in thermal losses and higher efficiency, enhanced load responsiveness, faster startup time, and likely lower cost. . Demonstration of >l kW /th/liter H2 production-based power density in ATR system, including integrated heat exchangers, reformer, shift, steam separator, and tail gas burner/heat recovery module, leading to reduced size/weight and lower cost. . Incorporation of novel catalyst substrates into two reaction zones in one device, leading to reduce size/weight, increased efficiency by virtue of reduced pressure drop, faster startup time due to reduced thermal mass, and enhanced structural integrity. . Demonstration of a steam reformer running g on natural gas, to enhanced reformate quality, reduce required stack size/weight, and realize a modest gain in efficiency. . Demonstration of a kerosene fuel processor, to extend fuel capability. 2.4.3.2 Overall Objectives - Fuel cell Stack Development . Demonstration of a CO-tolerant fuel cell stack, specifically exhibiting voltage degradation of less than 10% with respect to pure H2 operation when operating on reformate containing 50 ppm CO, thereby leading to enhanced reliability. . Improvements of hydrogen stack power density and specific power up to 1 kW/kg and 1 kWL . Reduction of stack operating pressure in order to minimize auxiliary power consumption. . Qualification of a selection of stack hardware components (particularly PEM membranes) in term of reliability, performance and compatibility with stack technology. . Achieve target of reliability, lifetime, out of design and unattended operation. Page 19 NuVera Confidential Figure 26. Year 2OOWOOl Technology Development Milestones [TABLE] ATR = Autothermal Reformer. An advanced fuel processor for heavier fuels FP = Fuel Processor SR = Steam Reformer: A high-efficiency fuel processor that operates best on natural gas 2.4.4 Marketing Plan The objective of the Marketing Plan is, to establish DNE as a fuel cell power system company, and increase market awareness to prepare the company for an IPO in 7 to 12 months. Page 20 NuVera Confidential Over the past year, De Nora and Epyx have continued to make dramatic strides in technology; however, this has not turned into marketing opportunities. Also, while several high profile fuel cell companies have marketed their business successes, Neither De Nora nor Epyx was in a position to keep pace. The new business direction of NuVera as a single company will dictate a different marketing message to help shape the brand image of NuVera into that of a fuel cell power system company in the MicroPower market, while maintaining leadership positions as a component supplier to automotive companies. To address the above issues, a three-tiered approach will be employed. First, NuVera will strive to gain awareness in its new direction through conferences, press releases, and partnership announcements. Second, we will continue to push the technology demonstrations and developments in all market segments. Third, towards the time of the IFO, we will begin to announce strategic partnerships at the OEM, manufacturing and Tier III supplier levels. The process is shown schematically in Figure 2.7. Tactical execution of the plan is given below: . Reinvigorate media relations . Attend conferences / trade shows / special events - 43 assumed with exhibits at 5 . Expand internal communications . Update the web site . Update collateral material . Provide on-site support materials Figure 2.7. Year 2000/2001 Marketing Milestones
IPO Q2 2000 Q3 2000 Q3-4 2000 Q1-3 2001 - ------------------------------------------------------------------------------------- TECHNOLOGY ANNOUNCE AWARENESS DEVELOPMENT & STRATEGIC SHOWCASE GENERATION DEMONSTRATION PARTNERSHIIPS PRODUCTS - ------------------------------------------------------------------------------------- . "NewCo" Launch . Marketing Partner(s) . Mfg. Partner . Maintain Awareness . Investor . Build Brand Image . Other partner(s) Announcement . Press release . Residential FCPS . Press release and media . Conferences and media coverage . Deliver First System coverage . Press Releases . Deliver 100th . 50 kWe Auto System . Premium Power System . Events System prototype . Pre-Production Prototypes
2.4.5 Pricing Policy Even though the acquisition of Contracts may help the Company to cover its development expenses, these acquisitions will not be necessarily pursued if not in line with the strategic Page 21 NuVera Confidential technological developments. This general approach is particularly true in the Transportation Sector, where the Company will implement technology development only in the frame of publicly and privately funded projects, and if the outcome such projects will increase the know how of the Company with direct effect to the strategic technological development focus in the MicroPower sectors. On the opposite, in the MicroPower sector, particularly in the fuel cell system prototype demonstration phase, the Company may decide to supply prototypes on a free of charge basis, should this approach reveal itself strategic for the development of technological and market partnerships. As a general rule the competitive fuel cell prototype price scenario will be analyzed and constantly monitored, so that the Company will always be competitive as the market develops. 2.4.6 Sourcing of Strategic Components and Technologies Fuel cell stacks, fuel processors and integrated systems can derive competitive advantage from the use of strategic components. Both DeNora Fuel Cells and Epyx have developed relationships that we expect will create unique fuel cell power systems that are differentiated from NuVera's competitors by the incorporation of technology provided by strategic suppliers. However, dependence on suppliers for critical technology creates business risks such as supply, security, and pricing that must be managed. NuVera will pursue a three pronged strategy for the sourcing of strategic components and technology: 1. Engage suppliers in joint development agreements that leverage the supplier's special expertise to develop specialized components which NuVera will have preferential access. 2. In all cases pursue second sources of supply to manage supply and cost risks. 3. Develop systems for mass manufacturing cost analysis of key components with Tier 3 suppliers. The table below lists critical components that are currently used or are anticipated to be needed for competitive systems: Page 22 NuVera Confidential
- -------------------------------------------------------------------------------------------------------- Component Supplier(s) Status Anticipated actions - -------------------------------------------------------------------------------------------------------- PEM Membrane DuPont DuPont and Gore are both 1. Develop programs with Gore qualified to provide DuPont and Gore for Asahi Glass membranes catalyzed/uncatalyzed Elf Atochem membranes Asahi Chem. 2. Develop Asian membrane Aventis source for Japan market - -------------------------------------------------------------------------------------------------------- Gas Diffusion DeNora NA Sole source Supply agreement with Electrode DN-NA required - -------------------------------------------------------------------------------------------------------- Stack hardware Several Italian sources only Seek to enlarge the components (bipolar Dana Corp. suppliers database on a plates, end plates, Apple Rubber territorial base (i.e. US) gaskets etc) - -------------------------------------------------------------------------------------------------------- Fuel Processing Englehard Many formulations under 1. Sign multiple Joint Catalysts (4 separate DeGussa test. Development Agreements systems) United Cat Joint Development 2. Evaluate use of ETEK as Corning Agreement with Engelhard custom supplier for Epyx Proprietary Formulations designed catalysts - -------------------------------------------------------------------------------------------------------- Air Supply Subsystem Eaton Development program Develop Strategic Valeo under discussion Relationship Allied Signal Vairex Opcon - -------------------------------------------------------------------------------------------------------- Power Conditioning Sat Con Investigation started Develop Strategic Trace Relationship Eaton (Others) - --------------------------------------------------------------------------------------------------------
2.5 Administration and Business Support The objective of the Administration and Business Support group is to develop and manage the infrastructure necessary for the integration of the separate DeNora Fuel Cells and Epyx operations and to provide the support required by the groups in Milan and Cambridge for autonomy from the mother companies. This group will also develop and manage marketing and external relationships 2.5.1 Key Activities-Yr. 2000 Business Support The key milestones for Administration and Business support functions for 2000 are: . Manage the launch and growth of NuVera in accordance with this plan with a particular focus on integration of Milan and Cambridge groups and on increasing autonomy from the mother companies. The following business functions will be required: . Financial reporting and management . Marketing . Human resources and recruiting . Facilities Page 23 NuVera Confidential . Contracting and legal affairs . Guide the creation of systems capability through internal NuVera growth, outsourcing and alliances . Establish a market channel alliance for the US and European MicroPower (residential, portable) and industrial hydrogen recovery fuel cell markets . Establish alliances and/or favored supply arrangements with Tier 3 component suppliers 2.5.2 Business Support Functional Discussion 2.5.2.1 Finance North American Operations Currently ADL Finance Department Staff performs accounting functions for NuVera. Considerations in changing to an NuVera stand-alone financial system include: . Cost to NuVera . Timeliness and relevance of financial reporting to NuVera management and NuVera Board . Establishment of an independently auditable finance function to support future equity transactions . Integration of finance with other ADL support functions used by NuVera (i.e. Accounts Payable support of Purchasing) . Obtaining government approval of rates and methods used in any new accounting system. Finance function costs in the 2000 financial plan assume that ADL Finance will continue to provide all forecasting, accounts payable, accounts receivable, labor accounting and payroll functions for NuVera The Plan includes hiring of a Chief Financial Officer and financial assistant during the second quarter of 2000. European Operations NuVera European Operations will establish an independent Accounting Department to replace the services currently provided by Norfin SpA. Such accounting function will provide: . Timeliness and relevance of financial reporting to NuVera management and NuVera Board . all forecasting, cost control accounts payable, accounts receivables and manage labor accounting and payroll functions . administrative management of EU and government Contracts . Purchasing activity Such Accounting function will provide to US Operation all reporting necessary to achieve a fully integrated accounting policy. Norfin SpA will continue to provide Financial Management and Financial Support for all other concerns such as funding management, preparation and follow up of the IPO. Page 24 NuVera Confidential 2.5.2.2 Human Resources North American Operations Currently, NuVera management of North American Operations handles most HR functions other than recruiting and compensation. ADL currently provides modest (0.1 FTE) (FTE = Full Time Equivalent) Human Resources Management support to assist in HR issues with strategic or legal implications. Due to increased recruiting requirements, we will add a full-time recruiter to our staff this year. Also, ADL HR support will need to increase to 0.5 FTE. The costs of the HR administration services are reflected in the financial plan under ADL Allocations. European Operations The recruitment of new personnel will be effected through the involvement of an external recruiting firm under the supervision of the HR management of DeNora Fuel Cells group. A training campaign will be pursued with the involvement of an external consultant. 2.5.2.3 Contracting North American Operations Commercial contracting is currently provided by ADL. These contracts encompass significant legal liability and Intellectual Property implications. A full time contracts/intellectual property administrator is planned for Q1 2000. Government contracts will continue to be administered by ADL with costs allocated to NuVera as part of the ADL Allocation. European Operations A contract management function will be established within the Business Administration Group of the European Operations, particularly for the implementation and administrative management of Public Contracts. Legal advice will be provided by an external Legal Firm on a consultancy basis. 2.5.2.4 Information Technology Computers, networking and general IT support will continue to be provided by ADL during 2000 or until NuVera relocation with a full time person dedicated to NuVera North America Operations. Costs are included in the 2000 financial plan for establishing a secure network server for NuVera within ADL's network. A separate internal network is already functioning within the European Operations, connected to the main DN Group servers. The IT services are currently provided by DeNora Fuel Cells Group and will continue during year 2000. As part of the Technology Exchange Plan, a common network system will be implemented in order to enhance communication transfer. 2.5.2.5 Purchasing and Material Control Because of the criticality of purchased material to NuVera prototype deliveries, NuVera North American Operations will establish an NuVera Materials Control function (2 FTE's) in Q1 2000. Purchasing will continue to be outsourced to ADL. Page 25 NuVera Confidential The European Operations will have autonomy in the purchasing and material controls. A QA/QC function will be established in the Production Department. The purchasing activity will be independently managed within the Business Administration group. 2.5.2.6 Administration and Miscellaneous Support North American Operations While NuVera remains in its current location, it will be most cost effective to utilize the following ADL support services: . Corporate Travel, . Graphics, . Machine shops, . Facilities maintenance . Technician pool (as required and available). . Safety Office and Medical Surveillance Staff . Purchasing (until a separate purchasing function is established) Costs for these support services are included in the financial plan under ADL Allocation. European Operations As far as the European operations are concerned, the following services will continue to be provided by DeNora Fuel Cells Group: . R&D services (Scientific advice, analytical services, engineering support) . Patent and Licenses (A dedicated resource will be added to the Technology development Group) . Catering . Corporate Travel, . Import Export . General Services (facilities maintenance, etc.) Page 26 NuVera Confidential 2.6 Risks and Risk Management The following table describes the business and technology risks that have been identified by the business planning team. - -------------------------------------------------------------------------------- Risk Mitigating Action (ie solutions) - -------------------------------------------------------------------------------- Technology Risks - -------------------------------------------------------------------------------- Reformate tolerant stacks unavailable Aggressive ETEK/DNNA plan funded by DeNora Benchmark other MEA suppliers - -------------------------------------------------------------------------------- Undesirable catalyst pollutants in Aggressive plan to identify better the fuel processor exit gas catalyst/and reformate gas purifying methods - -------------------------------------------------------------------------------- Standard metallic hardware not fully Implement use of suitable alternative compatible with certain reformate hardware or use of protective compositions coatings - -------------------------------------------------------------------------------- Practical Air System required Eaton Strategic supplier program - -------------------------------------------------------------------------------- Efficient 1 kW fuel processor Hydrogen Systems Solution in parallel (premium power threat) - -------------------------------------------------------------------------------- Low cost CO detector required Working with Engelhard sensors, DCHT, and Epyx/Local Vendor (J. Rumsey) for NDIR - -------------------------------------------------------------------------------- Business Risks - -------------------------------------------------------------------------------- Failure to integrate technology teams Technology Exchange Program to be implemented "Intranet" communication Management action - -------------------------------------------------------------------------------- NuVera systems do not meet market Cost/technology analysis programs cost requirements - -------------------------------------------------------------------------------- Page 27 NuVera Confidential 3 Organizational Integration and Growth Plan 3.1 Personnel Plan 3.1.1 North America Operations In order to support the product and technology developments planned in the year 2000, NuVera staff must be expanded aggressively in all areas, requiring an overall increase in staff levels of greater than 200% by the third quarter of the year. The personnel plan by month is shown in Table 2.1 and is broken out between MicroPower, transportation, and technology development functions. Technology development shows the largest growth at 220%, followed by MicroPower at 121% and transportation at 78%. Table 3.1. Year 2000/2001 Personnel Plan*
- -------------------------------------------------------------------------------------------------------------------- Staffing 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 1-Jan 30-Apr 31-May 30-Jun 31-Jul 31-Aug 30-Sep 31-Oct 30-Nov 31-Dec 30-Sep - -------------------------------------------------------------------------------------------------------------------- FTE's 80.00 100.00 114.00 133.00 149.10 149.10 149.10 149.10 149.10 149.10 - -------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- MicroPower 19.00 23.00 33.00 40.00 56.10 56.10 56.10 56.10 56.10 56.10 - -------------------------------------------------------------------------------------------------------------------- Transportation 15.00 18.00 22.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 - -------------------------------------------------------------------------------------------------------------------- Technology Dev. 40.00 50.00 50.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 - -------------------------------------------------------------------------------------------------------------------- Administrative 6.00 9.00 9.00 13.00 13.00 13.00 13.00 13.00 13.00 13.00 - --------------------------------------------------------------------------------------------------------------------
* Plan shows no growth after IPO - this will be revisited after IPO completion FTE = Fuel Time Equivalent 3.1.2 European Operations In order to support the product and technology developments planned in the year 2000, NuVera staff will be expanded aggressively in all areas, requiring an overall increase in staff levels of greater than 200% by the third quarter of the year. The personnel plan by month is shown in Table 3.2. Table 3.2. Year 2000/2001 Personnel Plan*
- ---------------------------------------------------------------------------------------------------------------------------- Staffing 31-Jan 28-Feb 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 1-Jan 27-Feb 31-Mar 30-Apr 31-May 30-Jun 31-Jul 31-Aug 30-Sep 31-Oct 30-Nov 31-Dec 30-Sep - ---------------------------------------------------------------------------------------------------------------------------- FTE's 18 18 20 25 30 35 35 44 54 54 54 54 - ---------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------- Production 3 3 3 3 4 5 5 5 13 13 13 13 - ---------------------------------------------------------------------------------------------------------------------------- Prog. Mgmt. 2 9 2 3 3 4 4 4 4 4 4 4 - ---------------------------------------------------------------------------------------------------------------------------- Technology 9 9 10 13 17 20 20 27 27 27 27 27 Development - ---------------------------------------------------------------------------------------------------------------------------- Administrative 4 4 5 6 6 6 6 8 10 10 10 10 - ----------------------------------------------------------------------------------------------------------------------------
* Plan shows no growth after IPO - this will be revisited after IPO completion FTE = Fuel Time Equivalent Page 28 NuVera Confidential 3.2 Technology Exchange Program In order to ensure that DeNora Fuel Cells and Epyx are integrated seamlessly into a single company, a detailed technology exchange program is anticipated and is outlined below. Implementation of such a program is required to make NuVera successful in the marketplace. Much of this information currently exists inside of DeNora Fuel Cells and Epyx and is being compiled into a cohesive set of documents. 1. Fuel Processing Manual (Training Manual for NuVera staff and new hires) A. Technology Review B. Technology Details C. Myths of Operation D. Reformate Characterization - contaminants, metals, etc. 2. PEM Manual (Training Manual for NuVera staff and new hires) A. Technology Review B. Technology Details C. Myths of Operation 1) Can we use Aluminum HX components 2) What is the required water quality, etc. D. Reformate Requirements - contaminants, metals, etc. 3. Personnel Exchange Plan 4. Technology Seminar Series (Ongoing Updates) 5. Technical Capabilities A. Personnel Biographies B. Company Qualifications C. Group Missions D. Facilities / Testing Capabilities E. Analytical Equipment F. Prototyping/Manufacturing G. Industrial Design H. ISO 9001 Certification 6. Data/Information Exchange A. Computer Networking B. Meetings/Videoconferences - frequency C. Intranet D. Computer Packages (Drawing, Process, etc.) E. Units (S.I.), Language (English), Paper (A4), SAE/Metric Fittings (SAE) 7. Planned Capital Expenditures for FY 2000/2001 8. Dealing with external vendors/partners - how to approach A. Etek for ELAT's 9. Safety Committee and Standards / Safety training 10. Technical Documentation Process 11. Inventory and Parts tracking methodology Page 29 NuVera Confidential 3.3 Facilities and Location 3.3.1 North America Operations NuVera presently occupies approximately 20,000 square feet of office and laboratory space at Arthur D. Little's Cambridge, Massachusetts's headquarters. During the transition period of 2000, NuVera will continue to occupy the present office and laboratory space at Arthur D. Little. NuVera facilities for 2000 will include office space, specialized laboratories and prototype production areas. Facilities square footage estimates were developed to support the Year 2000 technology and product plans, with no contingency for 2001 requirements. This plan assumes no move from Acorn Park facilities during 2000 and no difference in -- rates between office and lab space. Also, this plan assumes that no leasehold improvements at Acorn Park will be necessary during the year 2000 as NuVera continues to expand. ADL facilities charges used for this plan are: Base Pate: $27.29/sq. ft Fully Loaded Rate: $44.35/sq. ft A contingency reserve of $3.0 million has been added to the financial plan to reflect the costs associated with a complete move from Acorn Park in the year 2001. This contingency includes costs that would be incurred for laboratory replication, leasehold improvement and other moving costs associated with a complete departure from Acorn Park. The NuVera facilities requirements are listed in Tables 2.2 and 2.3 by month. Based on the current business plan, the facilities requirements in 2005 and 2010 will be 11,150 m/2/ and 13,000 m/2/ respectively, without taking manufacturing space into consideration. Table 3.2. Year 2000/2001 Facilities Plan*
- -------------------------------------------------------------------------------------------------------------------------------- 3-Jan 31-Jan 28-Feb 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 1-Jan 30-Jan 27-Feb 31-Mar 30-Apr 31-May 30-Jun 31-Jul 31-Aug 30-Sep 31-Oct 30-Nov 31-Dec 30-Sep - -------------------------------------------------------------------------------------------------------------------------------- Total Footage 2,077 2,917 3,501 4,043 4,235 4,480 4,480 4,773 4,773 4,773 4,773 4,773 4,773 - -------------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- Office m/2/ Space 965 1,585 1,983 2,166 2,265 2,417 2,397 2,432 2,432 2,432 2,432 2,432 2,432 - -------------------------------------------------------------------------------------------------------------------------------- Lab Space m/2/ 721 943 1,128 1,487 1,579 1,672 1,672 1,951 1,951 1,951 1,951 1,951 1,951 - -------------------------------------------------------------------------------------------------------------------------------- Prototype m/2/ Space 390 390 390 390 390 390 390 390 390 390 390 390 390 - --------------------------------------------------------------------------------------------------------------------------------
* Plan shows no growth after IPO - this will be revisited after IPO completion 3.3.2 European Operations Table 3.3. Year 2000/2001 Facilities Plan*
- -------------------------------------------------------------------------------------------------------------------------------- 3-Jan 31-Jan 28-Feb 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 1-Jan 30-Jan 27-Feb 31-Mar 30-Apr 31-May 30-Jun 31-Jul 31-Aug 30-Sep 31-Oct 30-Nov 31-Dec 30-Sep - -------------------------------------------------------------------------------------------------------------------------------- Total Footage 474 474 474 474 474 474 474 474 474 1,397 1,397 1,397 1,397 - -------------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- Office m/2/ Space 121 121 121 121 150 180 210 240 260 279 279 279 279 - -------------------------------------------------------------------------------------------------------------------------------- Lab Space m/2/ 232 232 232 232 232 232 232 232 232 418 418 418 418 - -------------------------------------------------------------------------------------------------------------------------------- Prototype m/2/ Space 121 121 121 121 121 121 121 121 121 700 700 700 700 - --------------------------------------------------------------------------------------------------------------------------------
* Plan shows no growth after IPO - this will be revisited after IPO completion Page 30 NuVera Confidential 4 Financial Overview The complete year 2000 financial plan is attached in Appendix A. Table 4.1. Year 2000 Abbreviated Operating Statement ($ except as noted)
- ---------------------------------------------------------------------------------------------------- Q2 2000 Q3 2000 Q4 2000 Y 2kTotal (S) - ---------------------------------------------------------------------------------------------------- Total Revenue 2,609,198 3,880,156 2,041,257 8,530,610 - ---------------------------------------------------------------------------------------------------- Total Employment Costs (3,023,197) (4,207,391) (4,555,323) (11,785,910) - ---------------------------------------------------------------------------------------------------- Cost Of Sales (3,437,434) (2,656,556) (2,426,430) (8,520,419) - ---------------------------------------------------------------------------------------------------- Total Overhead Expenses (811,349) (932,578) (758,152) (2,502,078) - ---------------------------------------------------------------------------------------------------- Intercompany Expenses (1,035,656) (1,264,086) (1,299,348) (3,599,090) - ---------------------------------------------------------------------------------------------------- Income/(Loss) (5,911,589) (5,393,606) (7,211,146) (18,516,341) - ---------------------------------------------------------------------------------------------------- Capital Expenditures (2,113,700) (803,000) (290,000) (3,206,700) - ---------------------------------------------------------------------------------------------------- Net Cash Flow (8,612,137) (6,118,121) (7,242,440) (21,972,698) - ----------------------------------------------------------------------------------------------------
Total includes Management, Administration and allocated costs Table 4.2. Year 2001 Abbreviated Operation Statement
- ---------------------------------------------------------------------------------------------------- Q1 2001 Q2 2001 Q3 2001 18 Month Total (S) - ---------------------------------------------------------------------------------------------------- Total Revenue 2,285,736 2,548,736 2,235,736 15,600,818 - ---------------------------------------------------------------------------------------------------- Total Employment Costs (4,657,449) (4,785,007) (4,785,007) (26,013,372) - ---------------------------------------------------------------------------------------------------- Cost Of Sales (2,201,107) (1,943,329) (1,861,107) (14,525,962) - ---------------------------------------------------------------------------------------------------- Total Overhead Expenses (720,287) (720,287) (720,287) (4,662,938) - ---------------------------------------------------------------------------------------------------- Intercompany Expenses (1,405,991) (1,420,719) (1,420,752) (7,846,551) - ---------------------------------------------------------------------------------------------------- Income/(Loss) (6,914,215) (6,535,723) (6,825,760) (38,792,039) - ---------------------------------------------------------------------------------------------------- Capital Expenditures (2,934,610) (3,080,000) (2,432,610) (11,653,920) - ---------------------------------------------------------------------------------------------------- Net Cash Flow (10,333,707) (8,907,279) (9,081,707) (50,295,392) - ----------------------------------------------------------------------------------------------------
Table 4.3. Resource Requirements- Year 2000/2001
------------------------------------------------------------------------------------------ TOTAL Currently Required Additional Total 18 Months Available ------------------------------------------------------------------------------------------ Total Staff 76 135 211 ------------------------------------------------------------------------------------------ Office Space m/2/ 1,616 1,100 2,715 ------------------------------------------------------------------------------------------ Lab/prod. m/2/ 1,030 2,535 3,565 ------------------------------------------------------------------------------------------ Funding $ 15.6 M $ 50.3 M $ 65.9 M ------------------------------------------------------------------------------------------
Page 31 NuVera Confidential Appendix A Financial Statement February 1, 2000 January 31, 200l Page 32 Exhibit E EXHIBIT 10.2 STOCKHOLDERS' AGREEMENT This Stockholders' Agreement is made as of April 4, 2000, by and among DeNora New Energy Investments B.V., a company established under the laws of The Netherlands and the parent company of DeNora Fuel Cells, S.p.A. ("DN"), Arthur D. Little, Inc., a Massachusetts corporation ("ADL"), Amerada Hess Corporation, a Delaware corporation ("Hess" and, together with ADL and DN, the "Stockholders"), and Epyx Corporation, a Delaware corporation ("Epyx"). W I T N E S S E T H: WHEREAS, the Stockholders desire to provide for certain matters with respect to their ownership of common stock of New DeNora Epyx Corporation (formerly, Epyx Corporation, "New DeNora Epyx"), as well as for the management and operations of New DeNora Epyx. NOW THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows: ARTICLE I. DEFINITIONS The following capitalized terms, as used in this Agreement, shall have the meanings set forth below. Capitalized terms used herein without definition shall have the meaning ascribed to such terms in that certain Investment and Exchange Agreement dated as of the date hereof by and among DN, DeNora Fuel Cells, S.p.A., ADL and Epyx (the "Investment Agreement"). An "Affiliate" of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. "Board" means the Board of Directors of New DeNora Epyx. "Commission" means the Securities and Exchange Commission. "Common Stock" means the Common Stock, par value $.01 per share, of New DeNora Epyx, issued in accordance with and subject to the terms of the Certificate of Incorporation of New DeNora Epyx, and any other common equity securities now or hereafter issued by New DeNora Epyx, together with any other shares of stock issued or issuable with respect thereto (whether by way of a stock dividend, stock split or in exchange for or upon conversion of such shares or otherwise in connection with a combination of shares, recapitalization, merger, consolidation or other corporate reorganization). 1 "Controlling Person" has the meaning set forth in Section 4.4. "Exchange Act" means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder. "Holder" has the meaning set forth in Section 4.1. "Person" means an individual, a corporation, an association, a partnership, a limited liability company, an estate, a trust, and any other entity or organization, governmental or otherwise. "Registrable Securities" has the meaning set forth in Section 4.2. "Securities Act" means the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder. "Selling Holder" has the meaning set forth in Section 4.4. "Stock" means Common Stock and any other equity securities of New DeNora Epyx. "Transfer" means any direct or indirect offer, transfer, donation, sale, assignment, pledge, hypothecation, grant of a security interest in, conveyance of a beneficial ownership or other right in, or other disposal or attempted disposal of all or any portion of a security or of any rights. "Transferred" means the accomplishment of a Transfer, and "Transferee" means the recipient of a Transfer. ARTICLE II. ELECTION OF DIRECTORS OF NEW DENORA EPYX 2.1 Voting of Shares for Election of Directors of New DeNora Epyx. (a) With respect to each election or removal of members of the Board (including, without limitation, any replacement members), whether at an annual or special meeting of stockholders or by written consent of stockholders, each of the Stockholders agrees to vote its Stock (and any shares of Stock over which it exercises voting control) and to take such other action as may be necessary to fix the number of Directors of New DeNora Epyx at eight (8), as indicated below, and to cause and maintain the nomination and election to the Board and to keep in office as such: (i) four (4) persons designated from time to time by DN (the "DN Directors"); (ii) three (3) persons designated from time to time by ADL (the "ADL Directors"); and (iii) one (1) person designated from time to time by Hess (the "Hess Director"). (b) New DeNora Epyx shall nominate the DN Directors, the Hess Director and the ADL Directors for election to the Board. Each of DN, ADL and Hess further agrees to place at least one of the DN Directors, the Hess Director and one of the ADL Directors on each committee of the Board. The Chairman of the Board shall be nominated by ADL, subject to the approval of DN. The Chief Executive Officer of New DeNora Epyx shall be nominated by ADL, subject to the approval of DN, provided that upon the selection of a Chief Executive Officer, such officer shall become a member of the Board and will be one of the three ADL Directors. 2.2 Vacancies; Removal. Each of the Stockholders agrees to vote its Stock (and any shares of Stock over which it exercises voting control), to the extent required by Section 2.1, in such manner as shall be necessary or appropriate so as to ensure that any vacancy occurring for any reason in the Board shall be filled so as to constitute the Board in accordance with Section 2.1 above. The DN Directors only may be removed by DN, the Hess Director only may be removed by Hess and the ADL Directors only may be removed by ADL, provided that each of DN, Hess and ADL agrees to vote for the removal of any director upon the request of the party which designated such director and for the election to the Board of a substitute director designated by such party. 2.3 Meetings; Expenses. The Board shall hold such number of meetings as shall be determined by the Board. A quorum shall consist of four (4) Directors, at least two of which shall be DN Directors and two of which shall be ADL Directors. Meetings of the Board shall be convened in accordance with the by-laws of New DeNora Epyx (attached hereto as Exhibit A), provided that in any case a Board meeting shall be convened upon written request of at least two (2) Directors, one of which is a DN Director and one of which is an ADL Director. In such case, written notice of such meeting shall be delivered to each of the other Directors at least seven (7) business days prior to the date of the proposed meeting. In the event that the Hess Director is unavailable for any meeting of the Board, Hess shall have the right to designate an alternate Director for any such meeting, and such alternate Director shall have the same rights, duties and obligations as the Hess Director. All Directors shall, subject to reasonable substantiation and documentation be entitled to reimbursement of out-of-pocket expenses incurred in attending each meeting of the Board or any committee thereof or otherwise incurred in performing his or her duties as a director of New DeNora Epyx (including, without limitation, reasonable travel, lodging, meals and communication expenses). 2.4 Deadlock. (a) If the Board, after a reasonable period of discussion at a duly constituted meeting or meetings thereof, is unable to resolve any issue before them, the resolution of which is necessary for the continued operation of the Business in a commercially reasonable manner and/or the Board is unable to agree upon any matter requiring special Board approval pursuant to Section 3.3 below, a Special Meeting of the Board to further consider the issue shall be scheduled and consideration of the matter shall be suspended until such Special Meeting which shall meet within seven (7) days to discuss the matter. (b) If the Board, after a reasonable period of discussion at a Special Meeting called pursuant to Section 2.4(a), are unable to resolve the issue that necessitated such meeting, (i) a subsequent Special Meeting to further consider the issue shall be scheduled, (ii) consideration of the matter shall be suspended until such Special Meeting and (iii) the chief executive officers of DN, Hess and ADL (the "Senior Deadlock Committee") shall meet within twenty (20) days to discuss the matter. At the subsequent Special Meeting to discuss the issue, the Senior Deadlock Committee shall make a report to the Board, and the Board shall adopt any proposal agreed to unanimously by all members of the Senior Deadlock Committee. (c) During any period in which a deadlock continues, the Board shall continue to conduct the Business in good faith and to the best of their abilities consistent with past practices and the then current Operating Plan. ARTICLE III. COVENANTS OF NEW DENORA EPYX 3.1 Financial and Other Information. (a) Accounts and Reports. New DeNora Epyx will maintain a standard system of accounts in accordance with generally accepted accounting principles consistently applied. (b) Annual, Quarterly and Monthly Financial Statements. New DeNora Epyx will deliver to each Stockholder: (i) within ninety (90) days after the end of each fiscal year, financial statements of New DeNora Epyx and its subsidiaries, if any, prepared in reasonable detail and in accordance with generally accepted accounting principles consistently applied, and certified by the principal financial officer of New DeNora Epyx that they are true and accurate in all material respects as of their respective dates, and (ii) copies of all financial statements and reports which New DeNora Epyx shall send to its stockholders or file with the Securities and Exchange Commission or any stock exchange on which any securities of New DeNora Epyx may be listed. New DeNora Epyx also will deliver to each such holder (x) within forty-five (45) days after the end of the first three quarters of each fiscal year, a copy of the consolidated balance sheet of New DeNora Epyx as of the end of such quarter and consolidated statements of income and of cash flows of New DeNora Epyx for the fiscal quarter and for the portion of the fiscal year ending on the last day of such quarter, each of the foregoing balance sheets and statements to set forth in comparative form the corresponding figures for the same period of the prior fiscal year, and (y) within twenty (20) days after the end of each calendar month, a copy of the consolidated balance sheet of New DeNora Epyx as of the end of such month and consolidated statements of income and of cash flows of New DeNora Epyx for such month and for the portion of the fiscal year ending on the last day of such month, each of the foregoing balance sheets and statements to set forth in comparative form the corresponding figures for the same period of the prior fiscal year; provided, however, that such financials may be subject to year-end adjustments and need not contain all footnotes required under generally accepted accounting principles, and to be certified, subject to normal year-end audit adjustments, by the principal financial officer of New DeNora Epyx that they are true and accurate in all material respects as of their respective dates. (c) Operating Plan. The Operating Plan shall be revised at least annually or otherwise as directed by the Board. The adoption of the revised operating plan to supersede the Operating Plan shall be effective as and when approved by the Required Percentage (as defined below) of the Board. (d) Visits and Discussions. New DeNora Epyx will permit each Stockholder and its authorized representatives, at all reasonable times during normal business hours and as often as reasonably requested, to visit and inspect, at the expense of such Stockholder, any of the properties of New DeNora Epyx, including its books and records and lists of security holders, and to make extracts therefrom and to discuss the affairs, finances and accounts of New DeNora Epyx with its officers. (e) Confidentiality. Each Stockholder agrees to treat all non-public information provided to it by New DeNora Epyx, including without limitation all financial and other information provided to any such Stockholder pursuant to this Section 3.1, as confidential and will not convey any such information to any Person (other than such Stockholder's Affiliates, accountants, legal counsel and other similar representatives) without the prior written consent of New DeNora Epyx. The foregoing obligation of confidentiality shall not apply to information (i) which later becomes part of the public domain (other than as a result of a violation of this Section 3.1(e) by any such Stockholder); (ii) which is required to be disclosed to the extent necessary to enforce this Agreement; or (iii) which is required to be disclosed by law or governmental order or regulation, or subpoena or other legal process, provided that such Stockholder notifies New DeNora Epyx as soon as practicable prior to such disclosure, cooperates with New DeNora Epyx to preserve the confidentiality of such information, and uses commercially reasonable efforts to limit any such disclosure to the minimum disclosure necessary to comply with such law or governmental order or regulation, or subpoena or other legal process. 3.2 Dealings with Affiliates and Others. New DeNora Epyx covenants that it shall not, without the prior approval of an absolute majority of the Board, enter into any transaction (including without limitation the purchase, sale, rental or exchange of any property or services, or any loans, advances or guarantees) with any stockholder, director, officer, agent, partner, employee or affiliate of New DeNora Epyx or any of its stockholders, other than upon fair and reasonable terms no less favorable to New DeNora Epyx than would be obtained in a comparable arms-length transaction with any other Person not so affiliated with New DeNora Epyx. 3.3 Actions Requiring Special Board Approval. (a) Without the prior approval of the Required Percentage (as defined below) of the Board, acting by resolution at a duly called regular or special meeting of the Board or acting by written consent, New DeNora Epyx shall not: (i) merge or consolidate New DeNora Epyx with any other Person, or sell, assign, lease or otherwise dispose of or voluntarily part with the control of (whether in one transaction or in a series of transactions) all, or substantially all, of its assets or capital stock (whether now owned or hereinafter acquired) or sell, assign or otherwise dispose of (whether in one transaction or in a series of transactions) any asset or group of assets which is material to the business or operations of New DeNora Epyx, or agree to do any of the foregoing, except for sales or other dispositions of assets in the ordinary course of business; (ii) amend the Certificate of Incorporation or By-laws of New DeNora Epyx; (iii) sell or issue to any Person any capital stock of New DeNora Epyx except pursuant to this Agreement or any approved stock option or other equity participation plan, or agree to do either of the foregoing; (iv) redeem, purchase or otherwise acquire for value any Common Stock or any other capital stock New DeNora Epyx except for repurchases of Common Stock pursuant to the terms of any approved stock option or other equity participation plan within the normal operation of such plan, or agree to do any of the foregoing; (v) declare or pay any dividend on any capital stock of New DeNora Epyx; (vi) liquidate, dissolve or commence proceedings in bankruptcy; (vii) approve the Operating Plan; or (viii) designate the individual to represent New DeNora Epyx in the shareholders meeting of DNFC and the instructions to be granted to such representative to vote at such meeting. (b) For purposes of this Section 3.3, "Required Percentage" shall mean: (i) seventy-five percent (rounded up to the nearest whole number) of the Board as long as the number of directors on the Board is eight (8) or less and (ii) sixty-six and two-thirds percent (rounded up to the nearest whole number) of the Board as long as the number of directors on the Board is nine (9) or more. (c) To the extent that any of the matters listed in Section 3.3(a) also require approval by the stockholders of New DeNora Epyx pursuant to the General Corporation Law of the State of Delaware or any other applicable law, such approval shall require the prior approval of sixty-six and two-thirds percent of the shares of Common Stock then outstanding, acting by resolution at a duly called regular or special meeting of the stockholders of New DeNora Epyx or acting by written consent. 3.4 Access to Public Capital Market. New DeNora Epyx shall use commercially reasonable efforts to access the public capital market no later than December 31, 2000. 3.5 Funding of Operations. The operations of New DeNora Epyx shall be funded in accordance with the provisions of Section 7.4 of the Investment Agreement. ARTICLE IV. REGISTRATION RIGHTS 4.1 "Piggy-Back" Registration Rights. If at any time or times after the Closing Date, New DeNora Epyx shall determine or be required to register any shares of its Common Stock for sale under the Securities Act (whether in connection with a public offering of securities by New DeNora Epyx (a "primary offering"), a public offering of securities by stockholders of New DeNora Epyx (a "secondary offering"), or both, but not in connection with a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 or any other similar rule of the Commission under the Securities Act is applicable), New DeNora Epyx will promptly give written notice (but in no event less than 30 days before the anticipated filing date) thereof to DN, Hess and ADL and any other Person to whom New DeNora Epyx has granted "piggy-back" registration rights with respect to the Common Stock (referred to for purposes of this Article IV collectively as the "Holders" and individually as a "Holder" and such notice shall offer, subject to the terms and conditions hereof, each such Holder the opportunity to register such Registrable Securities (as hereinafter defined) as such Holder may request on the same terms and conditions as the securities proposed to be sold by New DeNora Epyx or any other Holder in such offering. If within 30 days after the delivery of such notice by New DeNora Epyx one or more Holders of Registrable Securities request in a writing delivered to New DeNora Epyx the inclusion of some or all of the Registrable Securities (but not any other securities) held by them in such registration, New DeNora Epyx will use its best efforts to effect the registration under the Securities Act of all such Registrable Securities. In the case of the registration of shares of Common Stock by New DeNora Epyx in connection with an underwritten public offering, (i) New DeNora Epyx shall not be required to include any Registrable Securities in such underwriting unless the Holders thereof accept the terms of the underwriting as agreed upon between New DeNora Epyx and the underwriter or underwriters selected by it, and (ii) if the underwriter(s) determines that marketing factors require a limitation on the number of Registrable Securities to be offered, New DeNora Epyx shall not be required to register Registrable Securities of the Holders in excess of the amount, if any, of shares of the capital stock which the principal underwriter of such underwritten offering shall reasonably and in good faith agree to include in such offering in excess of any amount to be registered for New DeNora Epyx. In the event of any such limitation, the first shares to be included in such registration shall be any shares to be registered for the benefit of New DeNora Epyx and thereafter any shares which any other Holders have requested to be registered shall be included on a pro rata basis, based upon their respective holdings of Registrable Securities. All expenses relating to the registration and offering of Registrable Securities pursuant to this Section 4.1 (including the reasonable fees and expenses of not more than one independent counsel for the Holders) shall be borne by New DeNora Epyx, except that the Holders shall bear underwriting and selling commissions attributable to their Registrable Securities being registered and any transfer taxes on shares being sold by such Holders. 4.2 Registrable Securities. For the purposes of this Article IV, the term "Registrable Securities" and any and all references to Registrable Securities held by any Person shall mean any shares of Common Stock purchased by, or issued to, a Stockholder prior to, at or after the Closing, and shall also mean shares of Common Stock issuable pursuant to the exercise of warrants, options or other convertible or exchangeable security, to the extent then exercisable, notwithstanding that any such warrant, option or other convertible security has not been exercised; provided, however, that any Common Stock that is sold in a registered sale pursuant to an effective registration statement under the Securities Act or pursuant to Rule 144 thereunder, or that may be sold without restriction (including volume limitations) pursuant to Rule 144(k) under the Securities Act (as confirmed by an unqualified opinion of counsel to New DeNora Epyx), shall not be deemed to be Registrable Securities. 4.3 Further Obligations of New DeNora Epyx. Whenever under Section 4.1 New DeNora Epyx is required hereunder to register any Registrable Securities, it agrees that it shall also do the following: (a) Use its best efforts (with due regard to the management of the ongoing business of New DeNora Epyx) diligently to prepare and file with the Commission a registration statement and such amendments and supplements to said registration statement and the prospectus used in connection therewith as may be necessary to keep said registration statement effective and to comply with the provisions of the Securities Act with respect to the sale of securities covered by said registration statement for the lesser of (i) 180 days (or 120 days in the case of registration on Form S-3) or (ii) the period necessary to complete the proposed public offering; (b) Furnish to each selling Holder such copies of each preliminary and final prospectus and such other documents as such Holder may reasonably request to facilitate the public offering of its or his Registrable Securities; (c) Enter into any reasonable underwriting agreement required by the proposed underwriter for the selling Holders, if any, in such form and containing such terms as are customary; provided, however, that no Holder shall be required to make any representations or warranties other than with respect to its title to the Registrable Securities and any written information provided by the Holders to New DeNora Epyx, and if the underwriter requires that representations or warranties be made, New DeNora Epyx shall make all such representations and warranties relating to New DeNora Epyx reasonably required by such underwriter; (d) Use its reasonable best efforts to register or qualify the securities covered by said registration statement under the securities or "blue-sky" laws of such jurisdictions as any selling Holders may reasonably request, provided that New DeNora Epyx shall not be required to register or qualify the securities in any jurisdictions which require it to qualify to do business or subject itself to general service of process therein; (e) Immediately notify each selling Holder, at any time when a prospectus relating to such Holder's Registrable Securities is required to be delivered under the Securities Act, of the happening of any event as a result of which such prospectus contains an untrue statement of a material fact or omits any material fact necessary to make the statements therein not misleading, and, at the request of any such selling Holder, prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading; (f) Cause all such Registrable Securities to be listed on each securities exchange or quoted in each quotation system on which similar securities issued by New DeNora Epyx are then listed or quoted (or, in the case of New DeNora Epyx's initial public offering, such exchange or quotation system as New DeNora Epyx may determine); (g) Otherwise use its best efforts to comply with all applicable rules and regulations of the Commission and make generally available to its security holders, in each case as soon as practicable, but not later than 45 days after the close of the period covered thereby (90 days in case the period covered corresponds to a fiscal year of New DeNora Epyx), an earnings statement of New DeNora Epyx which will satisfy the provisions of Section 9(a) of the Securities Act; (h) Obtain and furnish to each selling Holder, immediately prior to the effectiveness of the registration statement (and, in the case of an underwritten offering, at the time of delivery of any Registrable Securities sold pursuant thereto), a cold comfort letter from New DeNora Epyx's independent public accountants in the same form and covering the same matters as is typically delivered to underwriters and, in the event that an underwriter or underwriters have been retained in connection with such registration, such cold comfort letter to be provided to the selling Holders shall be the same cold comfort letter delivered to such underwriter or underwriters; and (i) Otherwise cooperate with the underwriter or underwriters, the Commission and other regulatory agencies and take all actions and execute and deliver or cause to be executed and delivered all documents necessary to effect the registration of any Registrable Securities under this Article IV. 4.4 Indemnification; Contribution. (a) Incident to any registration statement referred to in this Article IV, and subject to applicable law, New DeNora Epyx will indemnify and hold harmless each underwriter, each Holder who offers or sells any such Registrable Securities in connection with such registration statement (including its partners (including partners of partners and stockholders of such partners), and directors, officers, employees and agents of any of them (a "Selling Holder"), and each person (a "Controlling Person") who controls any of them within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the "Indemnified Persons"), from and against any and all losses, claims, damages, expenses and liabilities, joint or several (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted), to which they, or any of them, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities arise out of or are based on (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement (including any related preliminary or definitive prospectus, or any amendment or supplement to such registration statement or prospectus), (ii) any omission or alleged omission to state in such document a material fact required to be stated in it or necessary to make the statements in it not misleading, or (iii) any violation by New DeNora Epyx of the Securities Act, any state securities or "blue sky" laws or any rule or regulation thereunder in connection with such registration; provided, however, that New DeNora Epyx will not be liable to the extent that such loss, claim, damage, expense or liability arises from and is based on an untrue statement or omission or alleged untrue statement or omission made in reliance on and in conformity with information furnished in writing to New DeNora Epyx by such Indemnified Person expressly for use in such registration statement (in such Person's capacity as a shareholder of New DeNora Epyx and not in its capacity as an officer or director of New DeNora Epyx and which such information relates to such Person's capacity as a shareholder). With respect to such untrue statement or omission or alleged untrue statement or omission in the information furnished in writing to New DeNora Epyx by any Selling Holder expressly for use in such registration statement (in such Person's capacity as a shareholder of New DeNora Epyx and not in its capacity as an officer or director of New DeNora Epyx and which such information relates to such Person's capacity as a shareholder), such Selling Holder will indemnify and hold harmless each underwriter, New DeNora Epyx (including its directors, officers, employees and agents), each other Selling Holder (including its partners (including partners of partners and stockholders of such partners) and directors, officers, employees and agents of any of them), and each person who controls any of them within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages, expenses and liabilities, joint or several, to which they, or any of them, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise to the same extent provided in the immediately preceding sentence. In no event, however, shall the liability of a Selling Holder for indemnification under this Section 4.4(a) in its capacity as such (and not in its capacity as an officer or director of New DeNora Epyx) exceed the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities indemnified against equal to the proportion of the total securities sold under such registration statement which is being sold by such Selling Holder or (ii) the proceeds received by such Selling Holder from its sale of Registrable Securities under such registration statement. (b) If the indemnification provided for in Section 4.4(a) above for any reason is held by a court of competent jurisdiction to be unavailable to an indemnified party in respect of any losses, claims, damages, expenses or liabilities referred to therein, then each indemnifying party under this Section 4.4, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, expenses or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by New DeNora Epyx, the other Selling Holders and the underwriters from the offering of the Registrable Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of New DeNora Epyx, the other Selling Holders and the underwriters in connection with the statements or omissions which resulted in such losses, claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. The relative benefits received by New DeNora Epyx, the Selling Holders and the underwriters shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses) received by New DeNora Epyx and the Selling Holders and the underwriting discount received by the underwriters, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public offering price of the Registrable Securities. The relative fault of New DeNora Epyx, the Selling Holders and the underwriters shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by New DeNora Epyx, the Selling Holders or the underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. New DeNora Epyx, the Selling Holders, and the underwriters agree that it would not be just and equitable if contribution pursuant to this Section 4.4(b) were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In no event, however, shall a Selling Holder be required to contribute any amount under this Section 4.4(b) in excess of the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities indemnified against equal to the proportion of the total Registrable Securities sold under such registration statement which are being sold by such Selling Holder or (ii) the proceeds received by such Selling Holder from its sale of Registrable Securities under such registration statement. No person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not found guilty of such fraudulent misrepresentation. (c) The amount paid by an indemnifying party or payable to an indemnified party as a result of the losses, claims, damages and liabilities referred to in this Section 4.4 shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim, payable as the same are incurred. The indemnification and contribution provided for in this Section 4.4 will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified parties or any officer, director, employee, agent or controlling person of the indemnified parties. 4.5 Rule 144 and 144A Requirements. If New DeNora Epyx becomes subject to the reporting requirements of either Section 13 or 15(d) of the Exchange Act, New DeNora Epyx will use its best efforts thereafter to file with the Commission such information as is specified under either of said Sections for so long as DN, Hess or ADL are Holders of Registrable Securities; and in such event, New DeNora Epyx shall use its best efforts to take all action as may be required as a condition to the availability of Rule 144 or Rule 144A under the Securities Act (or any successor or similar exemptive rules hereafter in effect). New DeNora Epyx shall furnish to each of DN, Hess and ADL upon request a written statement executed by New DeNora Epyx as to the steps it has taken to comply with the current public information requirement of Rule 144 or Rule 144A or such successor rules. 4.6 Market Stand-Off. Each of DN, Hess and ADL agrees, if requested by New DeNora Epyx and an underwriter of Common Stock of New DeNora Epyx (provided that all Holders have been so requested), not to sell or otherwise transfer or dispose of any Common Stock held by it for such period, not to exceed 180 days following the effective date of any registration statement (other than a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 or any other similar rule of the Commission under the Securities Act is applicable) of New DeNora Epyx filed under the Securities Act as New DeNora Epyx or such underwriter shall specify reasonably and in good faith. ARTICLE V. MISCELLANEOUS PROVISIONS 5.1 Restrictions on Transfer. No Stockholder shall Transfer any Stock without the prior written consent, which consent shall not be unreasonably withheld, of the other Stockholders except (i) pursuant to Article IV hereof; (ii) in connection with any pledge to any of such Stockholder's lenders; (iii) ADL may Transfer shares of Common Stock to Hess pursuant to the Investment Agreement between ADL and Hess dated as of March 30, 2000; and (iv) any Stockholder may Transfer, in one or more transactions, up to an aggregate of ten percent (10%) of the outstanding shares of Common Stock, provided that each Transferee is a financial or investment institution which is in good standing with the applicable regulatory authorities and is in compliance with the applicable laws and regulations. Notwithstanding any provision of this Section 5.1 to the contrary, no Stockholder may Transfer any shares of Stock unless the Transferee agrees in writing to be bound by the provisions of this Section 5.1. The provisions of this Section 5.1 shall terminate automatically and will be of no further force and effect upon the closing of an IPO (as defined in Section 5.10 below). In the event that at October 15, 2000, the Stockholders determine that an IPO will not be completed by December 31, 2000 for any reason, the Stockholders agree to renegotiate in good faith the provisions of this Section 5.1. 5.2 Legend on Securities. The Stockholders acknowledge and agree that the following legend shall be typed on each certificate evidencing any of the securities issued hereunder held at any time by the Stockholders: THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT PURSUANT TO (1) A REGISTRATION STATEMENT WITH RESPECT TO SUCH SECURITIES WHICH IS EFFECTIVE UNDER SUCH ACT OR (2) AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES. THESE SECURITIES ARE ALSO SUBJECT TO THE PROVISIONS OF A CERTAIN STOCKHOLDERS' AGREEMENT, DATED AS OF APRIL 4, 2000, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER SET FORTH THEREIN. A COMPLETE AND CORRECT COPY OF SUCH AGREEMENT IS AVAILABLE FOR INSPECTION AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST AND WITHOUT CHARGE. 5.3 Amendment and Waiver. Any party may waive any provision hereof intended solely for its benefit in writing. No failure or delay on the part of any party hereto in exercising any right, power or remedy hereunder shall operate as a waiver thereof. Except as otherwise expressly provided herein, the remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to any party hereto at law or in equity or otherwise. This Agreement may not be amended without the prior written consent of each of the parties hereto. 5.4 Notices. All notices and other communications shall be in writing and shall be deemed given if delivered by hand, sent via facsimile, sent via a reputable nationwide courier service or mailed by registered mail (return receipt requested) to the parties at the following addresses (or at such other address for a party as shall be specified by like notice) and shall be deemed given on the date on which so hand-delivered, the date on which receipt of the facsimile is acknowledged, the next business day following the date on which so sent or on the third business day following the date on which so mailed, as the case may be: If to DN: Herengracht 548 Postbus 990 1000AZ Amsterdam, The Netherlands Attention: Managing Board of Directors Facsimile: +31.20 ###-###-#### with a copy to: Avv. Giuseppe Cambareri Via dei Giardini 10 20121 Milano, Italy Facsimile: +39.02.6555.152 If to ADL: Acorn Park Cambridge, MA 02140 Attention: General Counsel Facsimile: (617) 498-7116 If to Hess: 1185 Avenue of the Americas New York, NY 10036 Attention: General Counsel Facsimile: (212) 536-8241 If to New DeNora Epyx: Acorn Park Cambridge, MA 02140 Attention: Chief Operating Officer Facsimile: (617) 498-6655 5.5 Headings. The Article and Section headings used or contained in this Agreement are for convenience of reference only and shall not affect the construction of this Agreement. 5.6 Counterparts. This Agreement may be executed in one or more counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which together shall be deemed to constitute one and the same agreement. 5.7 Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be in any way impaired thereby, it being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law. 5.8 Entire Agreement. This Agreement and the other agreements contemplated hereby are intended by the parties as a final expression of their agreement and intended to be complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein. This Agreement and the other agreements contemplated hereby (including the exhibits hereto) supersede all prior agreements and understandings between the parties with respect to such subject matter. The Stockholders agree that in the event of any inconsistencies between the by-laws of New DeNora Epyx and the provisions of this Agreement, the latter shall prevail. No amendment to the by-laws of New DeNora Epyx shall be deemed an amendment of this Agreement, in whole or in part, so that no right or obligation of the parties with respect to any matters covered by this Agreement shall be affected thereby. 5.9 Law Governing. This Agreement shall be construed and enforced in accordance with and governed by the laws of The Commonwealth of Massachusetts (without giving effect to principles of conflicts of law). Any controversy, claim or dispute arising out of or relating to this Agreement, the Investment Agreement or any other agreement or instrument delivered in connection therewith shall be submitted to and resolved exclusively by arbitration in accordance with the rules of the American Arbitration Association in effect on the date thereof. Judgment upon the award rendered by the arbitrator(s) in accordance with said rules may be entered and enforced in any court of competent jurisdiction and, for such purpose, each party hereby waives trial by jury in any action relating thereto and consents to the jurisdiction of any Massachusetts court (federal or state). Any such arbitration proceedings shall be held in Boston, Massachusetts. 5.10 Termination upon Initial Public Offering. This Agreement automatically shall, except as provided in the following sentence, automatically terminate and be of no further force or effect upon the closing of an underwritten initial public offering of New DeNora Epyx pursuant to an effective registration statement covering the offer and sale to the public of a number of shares equal to at least ten percent (10%) of the shares of Common Stock outstanding prior to such offering (an "IPO"). Notwithstanding the preceding sentence, Article IV and Sections 3.1(e) and 5.9 hereof shall survive such termination. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. DENORA NEW ENERGY INVESTMENTS B.V. (presently ANDROMA B.V.) By: /s/ Mauro Saponelli --------------------------------- Mauro Saponelli Managing Director EPYX CORPORATION By: /s/ Mark A. Brodsky --------------------------------- Mark A. Brodsky President ARTHUR D. LITTLE, INC. By: /s/ Mark A. Brodsky --------------------------------- Mark A. Brodsky Executive Vice President AMERADA HESS CORPORATION By: /s/ John A. Gartman --------------------------------- Name: John A. Gartman Title: Sr. Vice President Exhibit F EXHIBIT 10.12 LICENSE AND SERVICES AGREEMENT BY AND BETWEEN ARTHUR D. LITTLE, INC. AND EPYX CORPORATION THIS LICENSE AND SERVICES AGREEMENT is made as of April 4, 2000, by and between Arthur D. Little, Inc., a Massachusetts corporation ("ADL"), and Epyx Corporation, a Delaware corporation ("Epyx"). 1. GRANT OF LICENSE. ADL hereby grants to Epyx a license to occupy and use, upon the terms and conditions set forth herein, the premises set forth on Exhibit A to this Agreement (the "Licensed Premises"), located in Buildings 15, 32 and 46 (the "Buildings") located in ADL's premises at Acorn Park, Cambridge, MA ("Acorn Park"). The Licensed Premises presently consists of approximately 14,554 rentable square feet but may be increased at the mutual consent of both parties during the Term. Epyx acknowledges that the Licensed Premises occupy only a portion of the Building and that ADL occupies and uses the remaining portions of the Building for its own office, laboratory, research and other purposes. Accordingly, Epyx agrees that it will use the Licensed Premises and the other areas of the Building and Acorn Park to which Epyx has access pursuant to this Agreement, in such a manner as to minimize any interference with the activities of ADL and to recognize and respect the business security and confidentiality needs of ADL. 2. TERM AND EXTENSIONS. 2.1 Term. The term of this Agreement shall commence on April 4, 2000, and shall, if not previously terminated in accordance with the terms hereof, terminate on December 31, 2000 (the "Initial Term"). Upon mutual agreement between Epyx and ADL, this Agreement may be extended for one or more six (6) month periods following the expiration of the Initial Term (each, an "Extension Period") at rates to be negotiated between the parties. If Epyx desires to extend this Agreement, Epyx shall provide written notice to ADL requesting such extension at least three (3) months prior to the expiration of the Initial Term or any Extension Period, as the case may be. If the term of this Agreement shall be extended on any such occasion, all of the terms and conditions of this Agreement not otherwise modified by a written agreement between the parties shall remain in full force and effect during each Extension Period. The Initial Term, together with any Extension Periods, is referred to herein as the "Term." 2.2 Early Termination. Either party may terminate this Agreement at any time with or without cause by giving the other party six (6) months prior written notice, provided that ADL may not terminate this Agreement without cause prior to the expiration of the Initial Term. In addition, this Agreement and Epyx's rights hereunder may be earlier terminated at ADL's option upon the occurrence of any of the events specified in Sections 18 or 19 below, and Epyx shall vacate the Licensed Premises immediately following any such termination. 2.3 Holdover. If, at the end of the Term (or upon any termination of this Agreement in accordance with the provisions hereof), Epyx fails to vacate all or any portion of the Licensed Premises, Epyx's occupancy shall be deemed to be a tenancy from month to month subject to all the terms and conditions thereof and hereof which may be applicable except that the Fees (as defined below) shall be and Epyx shall pay an amount equal to 300% of the amount specified as the last Fee during the Term for each month of occupancy, and ADL's charging of such amount shall in no event constitute a waiver of any other right ADL may have hereunder or at law or in equity. The parties recognize that the intent of this Agreement is to be a short-term obligation and that any holdover by Epyx will cause damages to ADL that will be difficult to calculate and accordingly the parties have agreed on the escalations of holdover fees herein set forth as the best mechanism for insuring Epyx's compliance. 3. LICENSE AND SERVICES FEE. Epyx agrees to pay to ADL, without offset or reduction, a fee (the "Fee") covering the combined license and services provided for herein during the Term. The rate of such Fee shall equal Two Thousand Four Hundred Sixty Dollars ($2,460) per average number of EPYX staff members per month. The average number of EPYX staff members shall be determined at the end of each month by adding the actual number of EPYX staff members on the first day of the month to the actual number of EPYX staff members on the last day of the month, and then dividing the sum by two. Payment for each month shall be made in advance on the first day of each month during the Term and shall be based on the average number of EPYX staff members from the previous month. Epyx shall pay the Fee on a pro-rata basis for any partial calendar month during the Term or any extension thereof. All payments of Fees are to be made at ADL's address set forth herein or at such other place as ADL shall from time to time designate in writing. The Fee shall be increased or decreased each month to reflect the actual average number of staff members per month from time to time. 4. PERMITTED USE. The Licensed Premises are to be used solely in connection with Epyx's operations relating to the development of reformer and 2 fuel cell technology and other uses that are incidental or customarily accessory thereto, such as office, administrative, and storage uses, in each case to the extent permitted by applicable law and consistent with current use, and such other uses as may be consented to by ADL in advance (which consent may be withheld by ADL in its sole and absolute discretion). Epyx agrees to conduct its business in a professional and businesslike manner and in accordance with best safety and operating practices. 5. PREMISES. 5.1 Condition of the Licensed Premises. Epyx accepts the Licensed Premises in their existing condition on the date of commencement of the Term, and acknowledges that the Licensed Premises are in good order and condition and sufficient for the uses intended by Epyx. Epyx agrees that it has had full and adequate opportunity to inspect the Licensed Premises and has done so to its satisfaction. ADL has not made nor has Epyx relied on any representations or warranties, express or implied, as to the condition of the Licensed Premises or their suitability for Epyx's use. 5.2 Common Areas. (a) The Licensed Premises are licensed together with the use for their intended purposes, in common with ADL and all others, including any other tenants and occupants of Acorn Park lawfully entitled thereto, of (i) the common facilities included in the Building between the Licensed Premises and the exterior of the Building; (ii) the parking facilities located in Acorn Park; (iii) the pipes, ducts, conduits, wires and appurtenant equipment serving the Licensed Premises; (iv) the common women's room and men's room in closest proximity to the Licensed Premises and (v) the central reception area in Building 25 of Acorn Park (collectively, the aforementioned areas shall hereinafter be referred to as the "Common Areas"). Such rights in the Common Areas shall always be subject to the right of ADL to designate and change from time to time areas and facilities so to be used and any rules and regulations established by ADL with respect to Acorn Park. Epyx's staff members whose principal office is located on the Licensed Premises also shall be entitled to use ADL's cafeteria facilities. (b) ADL's shipping and receiving facilities shall not constitute part of the Licensed Premises or the Common Areas. As and when shipments for Epyx are presented to ADL, ADL shall promptly notify Epyx, and Epyx shall promptly make available an authorized agent or employee to accept and receive such shipments, and thereafter ADL and Epyx shall cooperate 3 to make arrangements for delivery of such accepted shipments to the Licensed Premises. 5.3 Access and Parking. ADL shall provide reasonable access to the Licensed Premises 24 hours a day seven days a week and shall permit Epyx's staff members and guests to use the roads, sidewalks and parking areas located on ADL's property adjacent to the Licensed Premises. Access into the Building must be in accordance with ADL's security system and policies and procedures. ADL's government security form must be signed by Epyx and all employees who will be occupying the Licensed Premises. All visitors must sign in at the central reception area in Building 25 and be escorted by an Epyx employee at all times. 6. REPAIRS AND MAINTENANCE; DESTRUCTION BY CASUALTY 6.1 ADL Responsibilities. Subject to Sections 6.3 and 18 hereof, during the Term, ADL shall, at its own expense, maintain all structural elements and building systems of the Building (including, without limitation, the foundations and appurtenances thereto, the room, building exterior, framing, and floor slabs, all fixtures and equipment, all pipes, ducts, wiring, and lighting, and all plumbing and utility lines serving the Building, whether located within or outside the Building) in accordance with ADL's current practices. In no event shall ADL be obligated, pursuant to this Agreement, to make any capital or structural repairs or alterations to the Licensed Premises, the Building, or Acorn Park. 6.2 Epyx Responsibilities. During the Term, Epyx shall, at its own expense, maintain the Licensed Premises in good and safe order, condition, and repair, reasonable wear and tear excepted. Without limitation, Epyx shall maintain and use the Licensed Premises in accordance with all applicable laws, including those adopted after the commencement of this Agreement and those related to fire safety and environmental requirements, and all directions, rules and regulations of the proper officers of governmental agencies having jurisdiction over the Licensed Premises, the Building or Acorn Park. 6.3 Destruction by Casualty. If the Licensed Premises are damaged by fire or other casualty, and such damage renders the Licensed Premises substantially untenantable in whole or in part, then: (i) a fair and just part of the Fees shall abate until the damage is repaired to the extent necessary to render the Licensed Premises suitable for the conduct of Epyx's business; and (ii) ADL or Epyx may elect to terminate this Agreement upon thirty (30) days' prior written notice to the other, provided that Epyx may not terminate this Agreement under this Section if ADL has notified 4 Epyx of its intention to repair or restore the Licensed Premises in which event ADL shall have thirty (30) days measured from the date of notice to Epyx to commence repair or restoration to render the Licensed Premises tenantable. In the event of any such untenantability, ADL shall have no obligation or legal liability for its failure to provide alternate space, facilities or services to Epyx. 7. ALTERATIONS AND IMPROVEMENTS. Epyx shall not make any structural or nonstructural alterations, additions or improvements to the Licensed Premises without the prior written consent of ADL, which consent may be withheld by ADL in its sole and absolute discretion. 8. SERVICES, FACILITIES AND EQUIPMENT. Subject to Epyx's compliance with the obligations contained in this Agreement, ADL has also agreed to make available to Epyx certain services, and to authorize Epyx to use certain areas and equipment in or about the Licensed Premises jointly with ADL and others who may be authorized by ADL from time to time, during the term of this Agreement, as set forth in this Section. Epyx should contact Tim White, Director of Facilities, with respect to issues or questions regarding such services and he will direct and coordinate any other assistance which may be required. 8.1 Telephone System. ADL and Epyx acknowledge and agree that a common telephone system serves both the Licensed Premises and ADL's other facilities at Acorn Park. Epyx acknowledges that it must pay the cost of all telephone charges associated with Epyx's use of such telephone system (including the cost of local-calling and long-distance calling services) and that such fees are not included in this Agreement. ADL and Epyx hereby agree that Epyx shall be responsible for maintenance, repair and replacement of the telephone and facsimile sets owned by Epyx and connected to such system, and that ADL shall be responsible for all routine maintenance for such common telephone system serving the Licensed Premises. Epyx hereby agrees that it shall obtain ADL's prior written approval with respect to the installation or attachment to ADL's telephone switch, system or cables. Epyx agrees to pay for any additional system lines or equipment installed on or for its behalf after the date of this Agreement. 8.2 Security, Janitorial and Custodial Services. ADL shall provide routine security, janitorial, custodial and maintenance services to the Licensed Premises to the same general extent that ADL provides such services to the rest of Acorn Park. Such services shall not include receiving or shipping services. Epyx shall keep the Licensed Premises in a clean, orderly and safe condition. Epyx shall be responsible for removing 5 at its own expense and on a regular basis all disposed items other than normal office rubbish. Epyx shall not cause, permit or suffer any overloading of the floors in the Licensed Premises. 8.3 Mail. ADL shall deliver to the Licensed Premises, not less than once per business day, mail for Epyx received in ADL's central mail facility at Acorn Park. 8.4 Utilities. ADL shall provide utilities for the Licensed Premises, including heat, air conditioning, water/sewer and electricity during the same hours they are provided to the other office facilities at Acorn Park, subject to the reasonable availability of such utilities to ADL. ADL's obligations hereunder shall not exceed the capacities of existing connection and distribution equipment and infrastructure to safely carry or conduct said utilities. Epyx shall reimburse ADL for the cost (based upon ADL's actual third-party costs of such utilities) of (i) providing any utilities for the Licensed Premises beyond standard operating hours for Acorn Park (including any utility costs incurred as a result of such request which do not relate directly to the Licensed Premises but which result from providing the requested utilities to the Licensed Premises) and (ii) any such approved excess utility usage. 8.5 Fire and Safety. Epyx shall notify ADL immediately of any fire on the Licensed Premises. At no additional charge during the Term, ADL shall provide the services of its emergency response personnel in connection with any fire emergency reported by Epyx to the same general extent and in the same manner that response under similar circumstances would be provided to Acorn Park. Epyx shall be responsible for maintenance of all fire extinguishers and equipment within the Licensed Premises. ADL shall not under any circumstances provide emergency services in connection with spills of chemical or other hazardous wastes which emergency services shall be provided promptly by Epyx in accordance with all applicable Federal, state and local laws and regulations, and Epyx shall provide notice of any such events to ADL's emergency coordinator immediately. 8.6 Additional Services. In addition to the services described above, ADL shall provide the following services to the extent requested by Epyx: (a) ADL shall provide purchasing services to Epyx to the same general extent that services are provided to the rest of the operations at Acorn Park. Epyx agrees to pay ADL for all purchases made by ADL on 6 Epyx's behalf within ten (10) days following presentation of an invoice by ADL to Epyx for such goods. (b) Epyx shall continue to have access to ADL's computer network and ADL's ISD department shall provide support administration for the network. (c) Epyx shall continue to have access to the resources of ADL's Knowledge Resource Information Center. (d) Epyx and its employees whose principal offices are located on the Licensed Premises shall be entitled to use the services of the ADL Travel Department to the same general extent and in the same manner that such services are provided to ADL's other business operations at Acorn Park. (e) ADL shall provide accounting, tax and related financial and treasury services to Epyx as required by Epyx's business. Such services, shall include assisting Epyx in (i) keeping its books and records; (ii) preparing its financial statements; and (iii) preparing and filing its federal and state tax returns. (f) ADL shall provide contracting and related legal services to Epyx as required by Epyx's business. Epyx shall be billed for any out-of-pocket expenses incurred by ADL in the performance of such services. Invoices for such out-of-pocket expenses shall be payable within thirty days after issuance. 9. HAZARDOUS SUBSTANCES. Epyx shall not bring or create or maintain on the Licensed Premises any hazardous materials or wastes, chemicals or other substances which are subject to regulation by any governmental authority. Epyx shall indemnify ADL for any costs or liabilities incurred by ADL as a result of any breach by Epyx of the foregoing obligation. 10. RULES AND REGULATIONS. 10.1 General. Epyx shall, at its own cost and expense, comply with all applicable laws, ordinances, rules and regulations including those adopted after the commencement of this Agreement of any duly constituted governmental authority relating to the use or occupancy of the Licensed Premises and the activities conducted thereon, Epyx shall obey all of ADL's rules and regulations currently existing or hereafter promulgated 7 from time to time by ADL governing or pertaining to the Building, Acorn Park or their respective tenants and occupants. Epyx shall be responsible for paying in a prompt and appropriate manner all fines, penalties, damages, costs, and fees that may arise out of or be imposed on Epyx or ADL because of Epyx's failure to comply with the provisions of this Section or for contesting any such matters. 10.2 Other Conditions. (a) Epyx agrees not to harm the Licensed Premises or any other part of Acorn Park, or commit or permit waste, or create any nuisance or disturbance, or do any act tending to injure the activities or reputation of Acorn Park or ADL. Epyx shall not use or suffer or permit the use by any person of the Licensed Premises for any purpose other than the Permitted Use or in any manner which violates any of Epyx's governmental authorizations, which is contrary to any applicable law, ordinance, rule or regulation, which could cause injury or damage to any person or property, or which could adversely affect any insurance coverage applicable to the Licensed Premises or the activities conducted on the Licensed Premises. (b) Epyx shall load, unload and transport its supplies, materials and equipment at such times as are reasonably designated by ADL, and shall not obstruct or store any materials or items in the corridors, sidewalks, stairways, elevators, or any other area about or within the Building (except that Epyx may store materials and items in the Licensed Premises other than the Common Areas) or Acorn Park. 11. INDEMNIFICATION. Epyx shall indemnify, hold harmless and defend ADL and its employees, shareholders, directors, officers and affiliates from and against any and all costs, penalties, damages, claims, suits and liabilities (including reasonable attorney's fees) based on or arising out of (i) any breach or default by Epyx of its agreements under this Agreement; (ii) any act or omission of Epyx, its contractors, subcontractors, members, agents, affiliates, consultants, employees or invitees, or the failure of Epyx or such persons to comply with any applicable governmental or ADL laws, rules or regulations including those adopted after the commencement date of this Agreement; (iii) any accident, injury or damage to any person or property occurring in the Licensed Premises or outside of the Licensed Premises but within Acorn Park, where such accident, injury or damage results, or is caused by any act, omission, willful misconduct or 8 negligence of Epyx, its contractors, members, agents, affiliates, consultants, employees or invitees, or anyone claiming by, through or under Epyx (but excluding any loss, liability, expense or damage to the extent caused by the gross negligence or willful misconduct of ADL, its agents, contractors, subcontractors, members, agents, affiliates, consulting, employees or invitees); or (iv) Epyx's use or occupancy of the Licensed Premises (including those arising out of any damage or destruction of the Licensed Premises or ADL's property, any contamination of the Licensed Premises or ADL's property by hazardous substances, or Epyx's failure to remove or dispose of all of its property upon expiration or termination of the Term), except to the extent caused by the gross negligence or willful misconduct of ADL or its agents, servants or employees. 12. INSURANCE. 12.1 Insurance Coverage. Epyx shall carry the following insurance throughout the term of this agreement. a. Commercial general liability insurance in an amount not less than $2,000,000. Such insurance shall be written on an occurrence basis and shall cover bodily or personal injury or death of persons or damage to property on or about the Licensed Premises, including: Contractual Liability; and Fire Damage Legal Liability covering any liabilities assumed under this contract. b. Workers Compensation insurance as required by the laws of the Commonwealth of Massachusetts, and Employers Liability Insurance including occupational disease in an amount not less than $2,000,000. c. All-risk Property Insurance covering the full replacement value of all Epyx's furniture, trade fixtures and other personal property located on the Licensed Premises, against loss or damage or other insurable hazard. 12.2 Compliance. Epyx shall not violate or permit violation of any of the conditions or provisions contained in any of the insurance policies related to the Licensed Premises or ADL's property adjacent to the Licensed Premises. Epyx shall perform and satisfy the requirements of the respective insurance companies so that at all times insurance companies of good standing will be willing to write or continue such policies. Nothing herein shall prevent ADL from carrying additional insurance. 9 12.3 Evidence of Insurance. Prior to commencement of the term of this Agreement, Epyx shall give ADL certificates of insurance policies required hereunder. Each such policy shall require the insurer to give ADL 30 days written notice of any change in such policies, and shall name ADL and Master Lessor as additional insureds. The property insurance policy shall provide that proceeds are first payable to ADL. 12.4 Subrogation. ADL and Epyx hereby agree to waive all rights of subrogation against the other party to the extent that any laws or damage to the Licensed Premises is covered by any property insurance policy, including any deductibles thereunder. 13. EPYX'S FAILURE TO PERFORM. 13.1 Substituted Performance. If Epyx shall at any time fail to make any payment or otherwise to perform any of its obligations as required under this Agreement, ADL, after 10 days notice to Epyx, may (but shall be under no obligation to) make any payment or perform or cause to be performed any act to be performed by Epyx under the terms of this Agreement. ADL may enter the Licensed Premises for any such purpose and may take all such action thereon as may be necessary therefor. 13.2 Reimbursement of Expenditures. All sums paid by ADL pursuant to Section 13.1 hereof, and all costs and expenses incurred by ADL in connection with the performance of any such act, together with interest thereon at the rate of 18% per annum (or such lesser rate as may at the time be the maximum rate permitted by law) from the respective dates of ADL's making of such payment or incurring of each such cost and expense, shall be paid by Epyx to ADL on demand as if the same were additional Fees hereunder (and non-payment of which shall have the consequences of non-payment of Fees). 13.3 Interest on Overdue Fees. All overdue Fees shall bear interest at the rate of 18% per annum (or such lesser rate as may at the time be the maximum rate permitted by law) from the respective payment due dates. Such interest shall be paid by Epyx to ADL on demand as if the same were additional Fees hereunder (and non-payment of which shall have the consequences of non-payment of Fees). 14. MECHANICS' LIENS. Notice is hereby given that ADL shall not be liable for any labor or materials furnished or to be furnished to Epyx, and that no mechanics' or materialmen's liens or other liens for any such labor or materials shall attach to or affect the reversionary or other estate or interest of ADL in and 10 to the Licensed Premises, the Building or Acorn Park. Epyx agrees to indemnify and hold harmless ADL against any and all costs it may suffer on account of the same. 15. ADL'S ACCESS. ADL may at any time enter the Licensed Premises for the purposes of responding to an emergency, repairing the Licensed Premises, inspecting the Licensed Premises or the activities conducted thereon, or for purposes of showing the Licensed Premises to prospective purchasers, lessees, mortgagors or other parties involved or potentially involved in any real estate related transaction relating to the Licensed Premises or Acorn Park in general. ADL may take any action it deems reasonably necessary in order to safeguard the Licensed Premises or ADL's or any other property or the health and safety of any persons. 16. EXPIRATION OF TERM. Epyx, at the expiration of the Term or at any prior termination as herein provided, shall peaceably yield up the Licensed Premises in the same condition and repair as the same were in at the commencement of the Term, reasonable wear and use excepted. Prior to expiration of the Term or within 10 days after any earlier termination of this Agreement (whichever first occurs) Epyx shall remove from the Licensed Premises any personal property and equipment and any items for disposal. Any property, equipment or materials of Epyx not removed from the Licensed Premises as required herein shall, at ADL's sole option (a) become the property of ADL or (b) be deemed abandoned and removed and disposed of by ADL as ADL shall determine, and ADL may charge the cost of such removal and disposal and any repairs or replacements to the Licensed Premises necessitated thereby and any liabilities resulting therefrom to Epyx; provided that Epyx shall retain title to any hazardous substances left on the Licensed Premises. 17. ASSIGNMENT AND SUBLETTING. Epyx shall not under any circumstances be entitled or permitted to transfer, sublet, assign, hypothecate, mortgage, pledge, encumber or otherwise alienate this Agreement or Epyx's interest in and to all or any part of the Licensed Premises, or grant any person any license or permission to use the Licensed Premises. Any attempted transfer, subletting, assignment, hypothecation, encumbrance, license, or other alienation of this Agreement by Epyx shall be void and shall confer no rights on third parties, and shall entitle ADL at its option to terminate this Agreement. 18. EMINENT DOMAIN. 18.1 Total Taking. If the entire Premises shall be taken for public purposes, then this Agreement shall terminate as of the date Epyx is required by law to vacate the premises. 11 18.2 Partial Taking. If a substantial portion of the Licensed Premises shall be taken for public purposes, ADL shall be entitled at its option to terminate this Agreement. If such portion of the Licensed Premises shall be taken as to render the Licensed Premises unsuitable after repair and restoration for the continuance of Epyx's business in substantially the same manner as it was being conducted immediately prior to such taking, then Epyx or ADL upon 30 days' prior written notice shall have the right to terminate this Agreement as of the date Epyx is required by law to vacate such portion of the Licensed Premises. 18.3 Restoration. Subsequent to any taking of a portion of the Licensed Premises, if this Agreement is not terminated by ADL or Epyx in accordance with Section 18.2 hereof, ADL may in its sole and absolute discretion promptly commence restoration of the Licensed Premises to a complete architectural unit as similar as possible to the condition the Licensed Premises were in immediately prior to said taking. During the period of such restoration, the Fees hereunder shall be abated in its entirety, except that to the extent Epyx is able to use the Licensed Premises, the Fees shall be adjusted to reflect such use. 18.4 Proceeds. In the event of any such taking, the condemnation award and all other proceeds thereof shall be payable to ADL, and Epyx shall have absolutely no right or interest in any award. Epyx hereby irrevocably appoints ADL as its attorney in fact for purposes of collecting any such condemnation award or proceeds and of dealing with all governmental authorities with respect hereto. This power of attorney is coupled with an interest and hence is irrevocable. 19. DEFAULT AND TERMINATION OF AGREEMENT. If (a) Epyx fails to pay the Fee within five (5) days after it becomes due; or (b) Epyx fails to perform or comply with any of the other covenants, conditions or obligations of Epyx under this Agreement within ten (10) days after written notice of such default; (c) Epyx is adjudicated a bankrupt, or there is appointed a permanent receiver in insolvency or permanent trustee in bankruptcy of Epyx and the appointment is not vacated within thirty (30) days, or Epyx makes a general assignment for the benefit of creditors or files a voluntary petition for reorganization under applicable bankruptcy laws; or (d) Epyx shall have abandoned the Licensed Premises, then and in each case ADL may, at ADL's option, declare this Agreement terminated and enter the Licensed Premises or any part thereof, either with or without process of law, and expel Epyx or any person or persons occupying the Licensed Premises. 12 20. ADDITIONAL REMEDIES ON DEFAULT. Notwithstanding any termination pursuant to Section 19 above or any entry or reentry by ADL, Epyx agrees to pay, on the days originally fixed herein for the payment thereof, amounts equal to the several installments of Fees and any other amounts due hereunder as they would become due under the terms of this Agreement if it had not been terminated or if ADL had not reentered as aforesaid, and whether the Licensed Premises be re-licensed or remain vacant in whole or in part. In the event the Licensed Premises are re-licensed in whole or in part by ADL, Epyx shall be entitled to a credit in the net amount of Fees received by ADL in re-licensing, after deduction of reasonable expenses incurred in re-licensing the Licensed Premises and in collecting the Fees. Epyx shall also be liable to ADL for all expenses (including reasonable attorneys' fees) incurred by ADL in enforcing its rights under this Agreement in the event of a default by Epyx, and such expenses may be deducted from any credit otherwise due Epyx from ADL. 21. ESTOPPEL CERTIFICATE. Upon not less than fifteen (15) days prior written request, ADL and Epyx agree, each in favor of the other, to execute, acknowledge-and deliver a statement in writing certifying that this Agreement is unmodified and in full force and effect (or, if modified, setting forth the modifications and stating that this Agreement as modified is in full force and effect), and the dates to which the Fees hereunder and other charges have been paid, and any other information reasonably requested. Any such statement delivered pursuant to this Section 21 may be relied upon by any prospective purchaser or mortgagee. 22. SUBORDINATION. This Agreement shall be subject and subordinate to all mortgages and ground or underlying leases existing or hereafter placed upon the Licensed Premises. Epyx hereby acknowledges and agrees that the holder of any such mortgage or the lessor under any such lease shall not thereby become or be liable for the performance of any of ADL's obligations under this Agreement. Epyx agrees that at the request of ADL it will execute, acknowledge and deliver any and all instruments which ADL may require in order to effect such subordination and hereby irrevocably appoints ADL as its attorney-in-fact to execute, acknowledge and deliver all such instruments upon the failure or refusal of Epyx to do so. Epyx shall agree to any amendment (except relating to the Fees, the Term, or the description of the Licensed Premises) reasonably requested by such mortgagee or lessor. 23. CONSENTS. No express or implied consent to or waiver of or failure to insist on performance or observance of any covenant or condition of this Agreement shall be deemed to be a consent to or waiver to any succeeding breach of the same or any other covenant or condition. Except as provided herein, any party may assert its rights and remedies hereunder without any prior or additional 13 notice to the other party. The payment by Epyx and acceptance by ADL of Fees or other payment hereunder or silence by either party as to any breach shall not be construed as waiving any of such party's rights hereunder unless such waiver is in writing. No payment by Epyx or acceptance by ADL of a lesser amount than shall be due hereunder shall be deemed to be anything but payment on account, and the acceptance by ADL of a check for a lesser amount shall not prejudice ADL's right to recover the balance due or to pursue any other remedy which may be available to it. 24. CUMULATIVE RIGHTS. Any and all rights and remedies which either party may have hereunder shall be cumulative, and the exercise of any such rights or remedies shall not bar the exercise of any other right or remedy. 25. NOTICES. Any notice required or permitted to be given hereunder shall be given when in writing and delivered in person or forwarded by overnight or certified or registered mail, return receipt requested, to: ADL: Arthur D. Little, Inc. Acorn Park Cambridge, Massachusetts 02140-2390 Attn: Tim White Epyx: Epyx Corporation Acorn Park Cambridge, Massachusetts 02140-2390 Attn: Chief Operating Officer or such other address as either party may have designated in a written notice to the other. Such notices shall be deemed received on the date of personal delivery or two days following the documented date of appropriate mailing. 26. ENTIRE AGREEMENT. This instrument contains the entire and exclusive agreement between the parties with respect to the Licensed Premises and supersedes and terminates all prior or contemporaneous arrangements, understandings and agreements whether oral or written. This Agreement may not be amended or modified except by a writing executed by both parties. 27. GOVERNING LAW AND SEVERABILITY. This Agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts. In the event any provision of this Agreement shall be determined to be invalid or unenforceable under applicable law, such provision shall insofar as possible be construed or applied in such manner as will permit enforcement; otherwise this Agreement shall be construed as if such provision were not a part hereof. 14 28. BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of all successors and permitted assigns. 29. RECORDING. Epyx and ADL agree that Epyx will not record this Agreement. 30. ADL LIMITS OF LIABILITY. ADL shall not be liable to Epyx, or those claiming under Epyx, for any loss or damage to Epyx or its property in or upon the Licensed Premises or Acorn Park that may be caused by the acts or omissions of tenants or other persons occupying space in Acorn Park, or for any loss or damage resulting to Epyx or its property except for any loss or damage resulting from the gross negligence or willful misconduct of ADL, its agents, contractors and employees, provided, however, that ADL shall have no responsibility or liability for any indirect, incidental or consequential damages relating directly or indirectly to loss of business or other indirect, incidental or consequential damages, damage to computer software and related accessory equipment (including, without limitation, computer tapes, disks, other data in storage media and similar property), equipment, or unusually valuable, rare or exotic materials, works of art, and the like. In no event shall ADL ever be liable to Epyx for indirect, incidental or consequential damages. Except in the case of gross negligence or willful misconduct of ADL, ADL shall be under no responsibility or liability for failure or interruption of any of the services, repairs or replacements or for any action in connection with ADL's provision of any services or utilities to Epyx under this Agreement; and failure or omission on the part of ADL to furnish any of same shall not be construed as an eviction of Epyx, actual or constructive, nor entitle Epyx to an abatement of the Fees described herein, nor render ADL liable in damages, nor release Epyx from prompt fulfillment of any of its covenants under this Agreement. 15 IN WITNESS WHEREOF, the parties have executed this License and Services Agreement as of the date first set forth above. ARTHUR D. LITTLE, INC. By: /s/ Lorenzo C. Lamadrid ------------------------------- Name: Lorenzo C. Lamadrid Title: President & Chief Executive Officer EPYX CORPORATION By: /s/ Mark A. Brodsky ------------------------------- Name: Mark A. Brodsky Title: President 16 Exhibit A --------- Memorandum Date: March 31, 2000 To: Elliot Mark cc: Tim White From: Pat Walsh Loc: 20A/245 Ext: 5902 Subject: Space - EPYX EPYX currently occupies space in Building 15, 32, and the Pilot Plant complex. Below is a summary and cost breakdown: Monthly Yearly Building Sq. Ft. Cost Cost -------- ------- ------- ------ 15 8,261 $30,531.27 $366,375.34 32 4,015 14,838.77 178,065.25 Pilot Plant 2,278 8,419.10 101,029.29 ------ ---------- ----------- Total 14,554 $53,789.14 $645,469.89 Attached are drawings indicating the space assigned to EPYX and the Facilities Space Report. This information is as of March 31, 2000. Please let me know if you need any additional information.
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 1 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15 138 1356 1356 15 139 937 937 15 151A 140 140 01 15 151B 140 70 7930 DEPIETRO R CONS 15 153 100 100 15 153B 70 70 5409 MOSHER PD CONS 15 153C 70 70 15 153D 70 70 630 HAILES RL CONS 15 153E 70 70 15 154 440 440 15 154A 65 65 15 154B 65 65 4370 THOMPSON C CONS 15 154C 65 65 6834 POLLICA DE 15 154D 65 65 6422 CHINTAWAR PS CONS 15 154E 65 65 4265 WILLEY JM 15 154F 65 65 5307 CIOFFI CM CONS 15 154G 62 62 2996 COLE T CONS 15L 101 117 117 8314 MORRISEAU BD CONS 15L 102 121 121 4802 BOYD S CONS
NOTE 01 ##### BLDG 15 ROOM 151B ALSO SHARED WITH UNIT 0946 ########
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 2 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15L 102A 94 94 4035 SYLVESTER RM SUP 15L 103 54 54 932 BLOCK SG CONS 15L 103A 80 80 4880 ROUNDS III R CONS 15L 104 80 SWAVELY 80 15L 105 80 80 8863 DORSON MH CONS 15L 106 80 80 7490 ZHAO J CONS 15L 107 85 85 15L 107A 27 CLOSET 27 15L 108 510 510 15L 109 968 968 15L 110 238 238 15L 111 238 238 15L 112 168 MECH. ROOM 168 15L 113 193 193 15L 114 262 MECH. FOR DRY ROOM 262 15L 115 533 533 15L 117 124 124 865 CROSS III JC CONS 15L 118 117 117 152 MITCHELL WL SENC 15L 119 117 117 5675 BENTLEY JM DIR
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 3 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- --- ---- ----- ---- ------------- ---- 15L 120 130 65 8053 HAND ML SUP 65 254 MADAN S CONS 32 101 113 113 32 102 113 113 32 103 113 113 186 BARTON L CONS 32 104 174 174 32 105 114 114 32 106 113 113 32 107 114 57 513 RIZZO VG CONS 57 874 RUMSEY JW CONS 32 108 114 114 7465 POLEVAYA O CONS 32 109 114 114 32 110 114 38 8259 BOSCO T CONS 38 4494 GOODWIN M CONS 38 7519 VODUC V SUP 32 111 123 123 335 PRABHU SK CONS 32 119 115 115 6916 WOO P SENC 32 120 174 58 4461 CELONA J SUP 58 6660 HILL SA CONS 58 6446 LANDRY BP SUP 32 121 114 57 1870 KHAN AR CONS 57 4044 LIU H CONS 32 122 114 57 5956 HAGAN MR CONS 57 7374 QI FC CONS
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 4 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- 32 123 114 57 4260 BATAL JD CONS 57 6826 ZHAO J 32 124 113 57 1714 BOWERS BJ CONS 57 362 NORTHROP WF CONS 32 125 114 57 4042 JAMIL A CONS 57 4054 RIVERA A CONS 32 126 114 114 687 NOWICKI BJ CONS 32 127 173 173 32 128 114 114 32 129 114 114 32 130 113 113 32 134 164 164 5689 HAVERTY AH SUP 32 135 605 EPYX DESIGN CENTER 605 32 136A 65 65 32 136B 65 65 32 137 311 EPYX CONFERENCE 311 46 100A 1709 PILOT PLANT 1709 46 200A 297 PILOT PLANT ME22 WILSON G 297 48 100 272 SHED 5 272
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 5 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: 194 UNIT LEADER: BENTLEY SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ********** TOTALS FOR GROUP 194 ********** SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 6 SECTION: EPYX SECTION LEADER: J BENTLEY UNIT NUMBER: UNIT LEADER: SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ########## TOTALS FOR SECTION B924 ########## SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
RUN DATE: 04/03/00 ARTHUR D. LITTLE, INC. REPORT: SPACE200R1 RUN TIME: 09:31:12 SPACE MANAGEMENT PROGRAM: SPACE201 FACILITIES GROUP REPORT PAGE: 7 SECTION: SECTION LEADER: UNIT NUMBER: UNIT LEADER: SPACE HOLDING DETAIL FULL TIME STAFF DATA ------------------------------------------------- ------------------------- EMPL PRS NOTE BLD/ROOM SQ FT WIDTH DEPTH CHARACTERISTICS OFFCE AN HD CONE LIBRY MISC LAB SHOP STRGE NO EMPLOYEE NAME CLS - ---- -------- ----- ----- ----- ------------------ ----- ----- ---- ----- ---- ---- ---- ----- ---- ------------- ---- ########### GRAND TOTALS FOR COMPANY ########## SPACE HOLDING TOTALS OFFCE AN HD CONF LIBRY MISC LAB SHOP STRGE TOTAL STAFF TOTALS SQUARE FEET ###-###-#### 0 0 0 ###-###-#### 27 0 14484 PROF: 0 RA : 0 SEC : 0 CONS : 33 NUMBER ROOMS 70 56 0 0 0 3 10 1 0 SUP : 6 SENC : 2 DIR : 1 MNDR : 0 AVG SQFT/SEC : 0 AVG SQFT/RA : 0 AVG SQFT/CONS: 73 SENM: 0 TECH : 0 AVG SQFT/SENC: 116 AVG SQFT/DIR : 117 AVG SQFT/MNDR: 0 COOP: 0 LTD : 0 AVG SQFT/SENM: 0 AVG SQFT/PROF : 0 AVG SQFT/TECH: 0 DMD : 0 OTHER: 3 AVG SQFT/COOP: 0 AVG SQFT/SUP : 80 AVG SQFT/LTD : 0 ------ AVG SQFT/DMD : 0 AVG SQFT/OTHER: 62 AVG SQFT/EMPL: 322 TOTAL: 45
EPYX Space - Building 15 Total Rentable sq. ft. 8,261 Notes: # 1: 15L/101 thru 15L/107A reflects space for cubicles only (818 sq. ft.) Aisle space has been deducted. Note #2: 15/153 reflects space for offices and cubicles only (380 sq. ft.) Entrance and aisle space has been deducted. [FLOOR PLAN APPEARS HERE] as of 3/31/00 Pat Walsh EPYX Space - Building 32 Total Rentable sq. ft. = 4,015 sq. ft. [FLOOR PLAN APPEARS HERE] Notes: Red background is Credit Union and other shared space. as of 3/31/00 Pat Walsh [PILOT PLANT COMPLEX DRAWING APPEARS HERE]