Exhibit 4.3.1.2
| Atlantic Canada Opportunities Agency | Agence de promotion économique du Canada atlantique |
|
NOV 24 2014
Project No.: 200804 Amendment #5
Metamaterial Technologies Inc. 1 Research Drive Bay 8 Dartmouth, Nova Scotia B2Y 4M9
Attention: Dr. George Palikaras |
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Dear Dr. Palikaras:
Re: Amendment Approved under the Business Development Program
As per your request, the Atlantic Canada Opportunities Agency (“the Agency”) hereby agrees to the following amendment:
Delete article 3.01, 3.02 and 4.02 (c) and replace with the following:
3.01 The Applicant shall repay the Contribution to the Agency in accordance with the revised repayment schedule attached to this offer.
These amounts are calculated to repay the outstanding balance of the Contribution; however, the last installment will be adjusted to include all sums owing.
3.02 The first repayment installment is due and payable on October 1, 2015.
Subsequent repayment installments are due and payable at intervals of the (1) month thereafter until the Contribution shall be fully repaid.
4.02 As a condition of the Agency’s assistance,
Annex 1- Statement of Work, is to be replaced by the attached revised Annex 1 - Statement of Work, dated November 18, 2014.
Revised Annex 1
STATEMENT OF WORK
November 18, 2014
Amendment to Statement of Work / Modification à l’énoncé des travaux
Project Description
This project will assist the Applicant with using state-of-the-art patented technology to develop a transparent thin film based on nanotechnology that is able to block selected frequencies of light. Eligible costs include research salaries and wages, equipment and materials.
Project Location
Halifax, Nova Scotia
Project Costs | $ |
| Financing | $ | |
Special Equipment | $69,000 |
| ACOA BDP Repayable Contribution | $500,000 | |
Salaries/Wages | 300,444 |
| Shareholders’ Injection | 166,667 | |
Consultants | 231,223 |
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Product Development | 66,000 |
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| |
Total Project Costs | $666,667 |
| Total Financing | $666,667 | |
Eligible Costs | Assistance Rate 0.000% |
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Special Equipment | 75% | $69,000 |
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Salaries/Wages | 75% | 300,444 |
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Consultants | 75% | 231,223 |
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Product Development | 75% | 66,000 |
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Total Eligible Costs | $666,667 |
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Expected Results from the Project
The federal government requires that results from projects receiving federal funding be identified. The Agency will thus follow-up on the following expected results identified from your project.
Expected Project Results
The Proponent shall develop one new product (goggles) with its state of the art transparent thin film technology.
Means of Verification
Project final report and product demonstration.
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Client Name: |
| Metamaterial Technologies Inc. | QA File ID: |
| 200804 |
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REPAYMENT SCHEDULE
Client: | Metamaterial Technologies Inc. | Start Date: | 2015/10/01 |
Account Number: | 200804 | End Date: | 2022/09/01 |
Number of Repayments: | 84 |
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Total Repayable: | $500,000.00 |
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Payment # | Due Date | Repayment Type | Amount Due | Amount Paid to Date | Principal Outstanding |
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| $500,000.00 |
421 | 2015/10/01 | Principal | $5,952.00 | -$5,952.00 | $494,048.00 |
422 | 2015/11/01 | Principal | $5,952.00 | -$5,952.00 | $488,096.00 |
423 | 2015/12/01 | Principal | $5,952.00 | -$5,952.00 | $482,144.00 |
424 | 2016/01/01 | Principal | $5,952.00 | -$5,952.00 | $476,192.00 |
425 | 2016/02/01 | Principal | $5,952.00 | -$5,952.00 | $470,240.00 |
426 | 2016/03/01 | Principal | $5,952.00 | -$5,952.00 | $464,288.00 |
427 | 2016/04/01 | Principal | $5,952.00 | -$5,952.00 | $458,336.00 |
428 | 2016/05/01 | Principal | $5,952.00 | -$5,952.00 | $452,384.00 |
429 | 2016/06/01 | Principal | $5,952.00 | -$5,952.00 | $446,432.00 |
430 | 2016/07/01 | Principal | $5,952.00 | -$5,952.00 | $440,480.00 |
431 | 2016/08/01 | Principal | $5,952.00 | -$5,952.00 | $434,528.00 |
432 | 2016/09/01 | Principal | $5,952.00 | -$5,952.00 | $428,576.00 |
433 | 2016/10/01 | Principal | $5,952.00 | -$5,952.00 | $422,624.00 |
434 | 2016/11/01 | Principal | $5,952.00 | -$5,952.00 | $416,672.00 |
435 | 2016/12/01 | Principal | $5,952.00 | -$5,952.00 | $410,720.00 |
436 | 2017/01/01 | Principal | $5,952.00 | -$5,952.00 | $404,768.00 |
437 | 2017/02/01 | Principal | $5,952.00 | -$5,952.00 | $398,816.00 |
438 | 2017/03/01 | Principal | $5,952.00 | -$5,952.00 | $392,864.00 |
439 | 2017/04/01 | Principal | $5,952.00 | -$5,952.00 | $386,912.00 |
440 | 2017/05/01 | Principal | $5,952.00 | -$5,952.00 | $380,960.00 |
441 | 2017/06/01 | Principal | $5,952.00 | -$5,952.00 | $375,008.00 |
442 | 2017/07/01 | Principal | $5,952.00 | -$5,952.00 | $369,056.00 |
443 | 2017/08/01 | Principal | $5,952.00 | -$5,952.00 | $363,104.00 |
444 | 2017/09/01 | Principal | $5,952.00 | -$5,952.00 | $357,152.00 |
445 | 2017/10/01 | Principal | $5,952.00 | -$5,952.00 | $351,200.00 |
446 | 2017/11/01 | Principal | $5,952.00 | -$5,952.00 | $345,248.00 |
447 | 2017/12/01 | Principal | $5,952.00 | -$5,952.00 | $339,296.00 |
448 | 2018/01/01 | Principal | $5,952.00 | -$5,952.00 | $333,344.00 |
449 | 2018/02/01 | Principal | $5,952.00 | -$5,952.00 | $327,392.00 |
450 | 2018/03/01 | Principal | $5,952.00 | -$5,952.00 | $321,440.00 |
451 | 2018/04/01 | Principal | $5,952.00 | -$5,952.00 | $315,488.00 |
452 | 2018/05/01 | Principal | $5,952.00 | -$5,952.00 | $309,536.00 |
453 | 2018/06/01 | Principal | $5,952.00 | -$5,952.00 | $303,584.00 |
454 | 2018/07/01 | Principal | $5,952.00 | -$5,952.00 | $297,632.00 |
455 | 2018/08/01 | Principal | $5,952.00 | -$5,952.00 | $291,680.00 |
456 | 2018/09/01 | Principal | $5,952.00 | -$5,952.00 | $285,728.00 |
457 | 2018/10/01 | Principal | $5,952.00 | -$5,952.00 | $279,776.00 |
458 | 2018/11/01 | Principal | $5,952.00 | -$5,952.00 | $273,824.00 |
459 | 2018/12/01 | Principal | $5,952.00 | -$5,952.00 | $267,872.00 |
460 | 2019/01/01 | Principal | $5,952.00 | -$5,952.00 | $261,920.00 |
2/2
461 | 2019/02/01 | Principal | $5,952.00 | -$5,952.00 | $255,968.00 |
462 | 2019/03/01 | Principal | $5,952.00 | -$5,952.00 | $250,016.00 |
463 | 2019/04/01 | Principal | $5,952.00 | -$5,952.00 | $244,064.00 |
464 | 2019/05/01 | Principal | $5,952.00 | -$5,952.00 | $238,112.00 |
465 | 2019/06/01 | Principal | $5,952.00 | -$5,952.00 | $232,160.00 |
466 | 2019/07/01 | Principal | $5,952.00 | -$5,952.00 | $226,208.00 |
467 | 2019/08/01 | Principal | $5,952.00 | -$5,952.00 | $220,256.00 |
468 | 2019/09/01 | Principal | $5,952.00 | -$5,952.00 | $214,304.00 |
469 | 2019/10/01 | Principal | $5,952.00 | -$5,952.00 | $208,352.00 |
470 | 2019/11/01 | Principal | $5,952.00 | -$5,952.00 | $202,400.00 |
471 | 2019/12/01 | Principal | $5,952.00 | -$5,952.00 | $196,448.00 |
472 | 2020/01/01 | Principal | $5,952.00 | -$5,952.00 | $190,496.00 |
473 | 2020/02/01 | Principal | $5,952.00 | -$5,952.00 | $184,544.00 |
474 | 2020/03/01 | Principal | $5,952.00 | $0.00 | $178,592.00 |
475 | 2020/04/01 | Principal | $5,952.00 | $0.00 | $172,640.00 |
476 | 2020/05/01 | Principal | $5,952.00 | $0.00 | $166,688.00 |
477 | 2020/06/01 | Principal | $5,952.00 | $0.00 | $160,736.00 |
478 | 2020/07/01 | Principal | $5,952.00 | $0.00 | $154,784.00 |
479 | 2020/08/01 | Principal | $5,952.00 | $0.00 | $148,832.00 |
480 | 2020/09/01 | Principal | $5,952.00 | $0.00 | $142,880.00 |
481 | 2020/10/01 | Principal | $5,952.00 | $0.00 | $136,928.00 |
482 | 2020/11/01 | Principal | $5,952.00 | $0.00 | $130,976.00 |
483 | 2020/12/01 | Principal | $5,952.00 | $0.00 | $125,024.00 |
484 | 2021/01/01 | Principal | $5,952.00 | $0.00 | $119,072.00 |
485 | 2021/02/01 | Principal | $5,952.00 | $0.00 | $113,120.00 |
486 | 2021/03/01 | Principal | $5,952.00 | $0.00 | $107,168.00 |
487 | 2021/04/01 | Principal | $5,952.00 | $0.00 | $101,216.00 |
488 | 2021/05/01 | Principal | $5,952.00 | $0.00 | $95,264.00 |
489 | 2021/06/01 | Principal | $5,952.00 | $0.00 | $89,312.00 |
490 | 2021/07/01 | Principal | $5,952.00 | $0.00 | $83,360.00 |
491 | 2021/08/01 | Principal | $5,952.00 | $0.00 | $77,408.00 |
492 | 2021/09/01 | Principal | $5,952.00 | $0.00 | $71,456.00 |
493 | 2021/10/01 | Principal | $5,952.00 | $0.00 | $65,504.00 |
494 | 2021/11/01 | Principal | $5,952.00 | $0.00 | $59,552.00 |
495 | 2021/12/01 | Principal | $5,952.00 | $0.00 | $53,600.00 |
496 | 2022/01/01 | Principal | $5,952.00 | $0.00 | $47,648.00 |
497 | 2022/02/01 | Principal | $5,952.00 | $0.00 | $41,696.00 |
498 | 2022/03/01 | Principal | $5,952.00 | $0.00 | $35,744.00 |
499 | 2022/04/01 | Principal | $5,952.00 | $0.00 | $29,792.00 |
500 | 2022/05/01 | Principal | $5,952.00 | $0.00 | $23,840.00 |
501 | 2022/06/01 | Principal | $5,952.00 | $0.00 | $17,888.00 |
502 | 2022/07/01 | Principal | $5,952.00 | $0.00 | $11,936.00 |
503 | 2022/08/01 | Principal | $5,952.00 | $0.00 | $5,984.00 |
504 | 2022/09/01 | Principal | $5,984.00 | $0.00 | $0.00 |