Modification to Teaming Agreement Between General Atomics and SatCon Technology, Inc. (Extension of Term)

Summary

General Atomics and SatCon Technology, Inc. have agreed to extend the duration of their existing teaming agreement from three years to five years, now ending on February 20, 2008. All other terms and conditions of the original agreement remain unchanged. This modification is effective as of the later date signed by the parties in late September and early October 2003.

EX-10.62 5 a2125104zex-10_62.txt EXHIBIT 10.62 EXHIBIT 10.62 MODIFICATION TO TEAMING AGREEMENT (EXTENSION OF TERM) This Modification to the Teaming Agreement ("Agreement") originally entered into between GENERAL ATOMICS ("GA") and SATCON TECHNOLOGY, INC. ("SatCon") with an effective date of February 20, 2003 extends the term of the Agreement, as it is therein defined, as follows: In order to meet the objectives contained in the Agreement, GA and SatCon desire that the three-year term of the Agreement be extended to five years (until February 20, 2008). All other terms and conditions of the Agreement remain unchanged. IN WITNESS WHEREOF, the parties have caused this modification to the Agreement to be executed in duplicate to be effective as of the later date of signature below. GENERAL ATOMICS SATCON APPLIED TECHNOLOGY, INC. BY: /s/ David I. Roberts BY: /s/ Donald M. Flodin -------------------------------- -------------------------------- TITLE: Senior Vice President TITLE: V.P. and General Manager ----------------------------- ----------------------------- DATE: October 4, 2003 DATE: September 25, 2003 ----------------------------- -----------------------------