Advisory Agreement for Nuvera Fuel Cells Inc. IPO Between Nuvera Fuel Cells Inc. and Fineurop Soditic S.p.A.
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Nuvera Fuel Cells Inc. has engaged Fineurop Soditic S.p.A. to provide advisory services for its initial public offering (IPO). Fineurop Soditic will receive a monthly retainer of $30,000 for May through July 2000, a success fee of 0.7% of the net IPO proceeds, and reimbursement of expenses up to $15,000 unless otherwise authorized. If the IPO occurs, the retainer will be deducted from the success fee. The agreement expires on July 31, 2001.
EX-10.11 12 0012.txt EXHIBIT 10.11 FINEUROP SODITIC Nuvera Fuel Cells Inc. Acorn Park Cambridge, Massachusetts 02140-2390 U.S.A. Milan, 1 August 2000 Re: Advisory mandate for Nuvera's IPO to Fineurop Soditic S.p.A. ("Fineurop Soditic") Dear Sirs: The present letter is to confirm our understanding concerning Fineurop Soditic's fees with regard to Nuvera Fuel Cells' ("Nuvera") IPO project. o Monthly retainer fee of USD 30,000 related to the period May-June-July 2000, for a total sum of USD 90,000 to be invoiced by September 1st, 2000. o Success fee of 0.7% of the net proceeds cashed by Nuvera from the IPO o Reimbursement of expenses, up to a maximum of USD 15,000. For an aggregate amount of expenses larger than this cap we will need a written specific authorization by Nuvera to raise this cap. In case the IPO takes place the paid retainer fee will be deducted from the amount of the success fee. This mandate will expire after July 31st, 2001 Thank you again for trusting us on this interesting and challenging mandate With our best regards Fineurop Soditic S.p.A. /s/ Eugenio Morpurgo /s/ Carlo Daveri For acceptance Nuvera Fuel Cells Inc. /s/ Anne Troutman
