EXHIBIT 10.30
TECHNOLOGY LICENSE CONTRACT
---------------------------
BETWEEN
WUHAN ELECTRIC POWER INSTRUMENT FACTORY
AND
BEIJING HUADIAN ELECTRIC POWER AUTOMATION CORPORATION
ON BEHALF OF
HATHAWAY POWER MONITORING SYSTEMS COMPANY, LTD.
AND
HATHAWAY CORPORATION
June 12, 1995
CONTENTS
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Article Page
- ------- ----
Preliminary Statement........................... 1
1 Definitions..................................... 2
2 Rights and Licenses............................. 3
3 Provision of Know-How and Technical Services.... 4
4 Royalties....................................... 6
5 Warranty........................................ 7
6 Proprietary Rights and Infringement............. 8
7 Accounts and Records/Quality Inspection......... 10
8 Confidentiality................................. 11
9 Taxes........................................... 12
10 Effective Date, Term and Termination............ 12
11 Settlement of Disputes.......................... 14
12 Force Majeure................................... 15
13 Governing Law................................... 15
14 Miscellaneous................................... 16
Signatures...................................... 17
Annex 1 - Contract Products and Specifications
Annex 2 - Technical Documentation
Annex 3 - Confidentiality Agreement
TECHNOLOGY LICENSE CONTRACT
---------------------------
THIS TECHNOLOGY LICENSE CONTRACT ("Contract") is entered into on this 12th day
of June, 1995 by and between WUHAN ELECTRIC POWER INSTRUMENT FACTORY, a Chinese
legal person with its legal address at 2 Qiujiawan, Guangbutun, Wuhan, 430072,
People's Republic of China and BEIJING HUADIAN ELECTRIC POWER AUTOMATION
CORPORATION, a Chinese legal person with its legal address at Jia 17, Xi San
Huan Nan Lu, Beijing, 100073, People's Republic of China on behalf of HATHAWAY
POWER MONITORING SYSTEMS COMPANY, LTD., a Sino-foreign equity joint venture
company (the "Licensee") to be established in Wuhan Municipality, Hubei
Province, the People's Republic of China, and HATHAWAY CORPORATION, a
corporation organized and existing under the laws of the State of Colorado,
U.S.A., with its principal address at 8228 Park Meadows Drive, Littleton,
Colorado, 80124, U.S.A. (the "Licensor").
PRELIMINARY STATEMENT
---------------------
WHEREAS, this Contract is entered into in accordance with Article 7.03 of the
Joint Venture Contract dated June 11, 1995 between Licensor, Wuhan Electric
Power Instrument Factory, and Beijing Huadian Electric Power Automation
Corporation for the establishment of the Licensee (the "Joint Venture
Contract");
WHEREAS, the Licensor wishes to license the Licensee to use the Know-How (as
defined in Article 1.07 below) for the manufacture of the Contract Products (as
defined in Article 1.03 below);
WHEREAS, upon its establishment, the Licensee shall use the Know-How strictly in
accordance with terms and conditions of this Contract.
NOW, THEREFORE, the Parties hereto agree as follows:-
ARTICLE 1. DEFINITIONS
-----------------------
Unless otherwise specified, the terms used in this Contract shall have the
meanings set forth below:
1.01 "Approval Authority" means the Ministry of Foreign Trade and Economic
Cooperation or the authority designated by such Ministry to approve this
Contract.
1.02 "Calendar Quarter" means each three (3) calendar month period commencing
on January 1st, April 1st, July 1st or October 1st of each year during
the Contract Term.
1.03 "Contract Products" means the products identified in Annex 1.
1.04 "Contract Term" means the period commencing on the Effective Date and
expiring ten (10) years thereafter, unless terminated earlier in
accordance with Article 10 of this Contract.
1.05 "Contract Plant" means Licensee's factory at 2 Qiujiawan, Guangbutun,
Wuchang District, Wuhan Municipality, Hubei Province, People's Republic
of China.
1.06 "Effective Date" means the effective date of this Contract as defined in
Article 10.01.
1.07 "Know-How" means the technical knowledge which Licensor owns or controls
as of the Effective Date which Licensor has full legal right to transfer
or disclose to another party, and which is necessary to enable Licensee
to manufacture Contract Products meeting the specifications set forth in
Annex 1.
1.08 "Net Sales" means the total invoice price of the Licensee's sales of the
Contract Products, excluding the following: (i) value added tax or
similar tax items; (ii) cash discounts; (iii) transportation costs and
insurance fees; and (iv) returned Contract Products.
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1.09 "Party" means each of Licensee and Licensor, and "Parties" means both of
Licensee and Licensor.
1.10 "Renminbi" or "RMB(Yen)" shall mean the lawful currency of the People's
Republic of China.
1.11 "Technical Documentation" means the documentation embodying the Know-How,
including engineering drawings, specifications, test procedures,
operating and maintenance manuals, and material lists as set forth in
Annex 2 hereto.
1.12 "Technical Services" means the technical assistance and training to be
provided by Licensor pursuant to Article 3.02 hereof.
1.13 "Territory" means the People's Republic of China.
1.14 "United States Dollars" or "US$" shall mean the lawful currency of the
United States of America.
ARTICLE 2. RIGHTS AND LICENSES
-------------------------------
2.01 Licensor hereby grants to Licensee a non-exclusive and non-transferable
license to use the Know-How for the manufacture of the Contract Products
at the Contract Plant and for the sale of the Contract Products in the
Territory during the Contract Term.
The sale of the Contract Products by the Licensee in the Territory will
be only to Chinese users of the Contract Products and to Chinese owned
contractors that are purchasing the Contract Products for installation
into power generation, transmission and distribution facilities being
constructed by such contractors outside of China.
The Contract Products will be sold to overseas markets once the Licensor
has determined that the quality and price of the Contract Products meet
international
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standards, and upon making such determination, the Licensor will be the
exclusive overseas sales agent for all of the Contract Products.
Notwithstanding the foregoing, the Licensor retains the right to sell its
own products in the Chinese market.
2.02 Licensee expressly acknowledges and agrees that, other than the rights
and licenses granted under this Contract, it does not hereby acquire and
has no right or claim to any other rights in, or to the use of,
trademarks, trade names, utility model rights, design rights, patents,
copyright or other industrial property rights or technical knowledge
owned, used or adopted by Licensor or its affiliates.
ARTICLE 3. PROVISION OF KNOW-HOW AND TECHNICAL SERVICES
--------------------------------------------------------
3.01 (a) Licensor shall ship one (1) set of the Technical Documentation to
Licensee by air courier, C.I.F. Wuhan Airport, within one (1) month
from the Effective Date. Within two (2) working days of shipping the
Technical Documentation, Licensor shall notify Licensee by facsimile
of the flight number and expected arrival date at Wuhan Airport and
shall attach to such notice a copy of the airway bill and the
packing list for each package of Technical Documentation.
(b) All Technical Documentation shall be in the English language.
(c) If the Technical Documentation or any part thereof is lost or
damaged in transit, Licensor at its own expense shall ship
replacement Technical Documentation to Licensee in the manner
provided in sub-paragraphs (a) above within twenty (20) days of
receiving from Licensee written notice of such damage or loss.
(d) Licensor shall provide the source code for the software of the
Contract Products once the Licensor and Licensee both agree that the
Licensee is prepared to control changes made to the source code in
accordance with Licensor's requirements and that the source code is
required by the Licensee
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to prepare and modify the software to meet the requirements of the
Chinese market.
(e) Licensor shall provide, if available, a flow chart reflecting how
the software of the DFR1200 performs.
3.02 (a) As set out in Article 6.04(e) of the Joint Venture Contract,
Licensor shall provide qualified technical personnel to furnish at
the Contract Plant or at Licensor's factory a maximum of fifty (50)
man-days of Technical Services in connection with the manufacture
and sale of the Contract Products. For the purpose of this Article
3.02, a "man-day" shall refer to a period of eight (8) hours.
Licensor shall be deemed to have provided no less than one man-day
of Technical Service per person per calendar day (including Monday
through Sunday) for each day on which its technical personnel are
available and ready in the People's Republic of China to provide
Technical Services hereunder.
(b) The scope of the Technical Services to be furnished pursuant to this
Article 3.02 shall include assistance in the solution of technical
problems arising in the manufacturing process, the operation and
maintenance of the relevant equipment, manufacturing methods and
processes, quality control, inspection and trouble-shooting,
performance testing and the uses of the Contract Products.
(c) Licensor shall send technical personnel to the Contract Plant to
begin furnishing the Technical Services within thirty (30) days of
receiving notice from Licensee that all of the Technical
Documentation have arrived at the Contract Plant. The expenses
incurred in connection with the provision of the Technical Services
shall be borne by Licensor, except that Licensee at its own expense
shall provide Licensor's technical personnel with suitable office
facilities, living accommodations, all meals and local
transportation in China.
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(d) If, during the Contract Term, Licensee requests Licensor to provide
Technical Services in excess of the number of man-days stated in
sub-paragraph (a) above, Licensor shall provide such Technical
Services at a price to be agreed in writing by the Licensor and
Licensee.
ARTICLE 4. ROYALTIES
---------------------
During the term of this Contract, the Licensee shall pay to the Licensor:
4.01 One initial payment of Seventy Thousand United States Dollars (US$70,000)
which will be paid by a set off against the capital contribution which
the Licensor is obliged to provide to the Company under Article 5.03(c)
of the Joint Venture Contract.
4.02 Royalties at the rate of two and seventy-five one-hundredth percent
(2.75%) of Net Sales for Contract Products sold by the Licensee during
each Calendar Quarter starting from January 1, 1997 and ending December
31, 2006, except as provided in Article 4.03, below. The royalties shall
be paid for each Calendar Quarter within thirty (30) days after the end
of such Calendar Quarter.
4.03 No royalties shall be paid on the Contract Products made hereunder by the
Licensee and sold to the Licensor.
4.04 All payments to be made by the Licensee to the Licensor under this
Contract shall be made in United States Dollars by electronic transfer to
such bank account as shall be specified in writing by the Licensor. All
bank charges incurred inside China shall be borne by the Licensee.
4.05 All Net Sales shall be recorded in the currency in which such sales are
made. The royalties are to be calculated in the same currency as the Net
Sales. Total royalties shall be payable in United States Dollars
converted at the median rate of exchange for United States Dollars posted
by the People's Bank of China on the date payment is
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due. The Licensee shall be obliged to do all that is necessary to obtain
any required government approvals within the People's Republic of China
for conversion of Renminbi into United States Dollars sufficient to pay
the royalties and remittance thereof outside the People's Republic of
China. If the Licensee's foreign exchange is not sufficient to remit the
royalties to the Licensor, the Licensor can require the Licensee not to
remit the royalties when they become due and open a separate interest-
bearing Renminbi bank account for such royalties and hold the same on
behalf of the Licensor until such time as the Licensee shall have
sufficient foreign exchange, and thereupon remit the royalties in foreign
exchange together with any interest to the Licensor pursuant to Article
4.04 above.
4.06 The Licensee shall pay the Licensor simple interest at the rate of ten
percent (10%) per annum on all money which is due and payable to the
Licensor hereunder but is unpaid on the due date, except if non-payment
is at the request of the Licensor in accordance with the provisions of
Article 4.05.
ARTICLE 5. WARRANTY
--------------------
5.01 Licensor warrants that as of the Effective Date it will have full legal
right to transfer and disclose the Know-How to Licensee.
5.02 Licensor warrants that the Know-How and Technical Documentation is
complete, accurate, effective and can be used to manufacture Contract
Products meeting the specifications set forth in Annex 1 hereto, provided
that:
(a) Licensee properly performs the activities contemplated under this
Contract to be performed by it, including without limitation the use
and application of the Know-How and the proper operation and
maintenance of the equipment in accordance with the standards set
forth in the relevant Technical Documentation;
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(b) Licensee supplies raw materials meeting the specifications set
forth in the relevant Technical Documentation; and
(c) Licensee maintains in good working order the existing equipment and
facilities at the Contract Plant in accordance with the standards
set forth in the relevant Technical Documentation.
5.03 Licensor warrants that the Technical Services will be provided by well-
trained and qualified technical personnel.
ARTICLE 6. PROPRIETARY RIGHTS AND INFRINGEMENT
-----------------------------------------------
6.01 Licensee acknowledges that Licensor owns or controls and has a
proprietary interest in the Know-How. Licensee hereby agrees that,
without Licensor's prior written consent, it will not do any act or
permit the doing of any act which might prevent, directly or indirectly,
the registration in the People's Republic of China of any patent right
with respect to the Know-How and other Confidential Information, as
defined in Article 8.01.
6.02 Licensor is not aware of any right of a third party which might be
infringed through the exercise of the license granted to Licensee
hereunder, but Licensor does not warrant that any such right of a third
party in fact does not exist, nor shall Licensor be liable to Licensee on
the ground that any such right in fact exists.
6.03 In the event that any suit, action or other proceeding involving any
claim of industrial property infringement shall be threatened or
instituted against Licensee based upon Licensee's permitted use hereunder
of the Know-How, Licensee shall notify Licensor promptly thereof and
shall send to Licensor copies of any such papers which shall have been
served in such suit, action or proceeding. Licensor may, if it so elects,
control the defense of such suit at Licensor's own cost and expense.
Licensee shall have the right to be represented by advisory counsel of
its own selection at its own
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expense, and shall cooperate fully in the defense of any such suit. If
Licensor does not elect to control the defense of such suit, Licensee
shall undertake such control at Licensee's own cost and expense and
Licensor shall have the right to be represented by advisory counsel of
its own selection and at its own expense. At the request of Licensee,
Licensor shall assist Licensee in the defense of such suit at Licensee's
cost and expense.
6.04 Licensee shall, upon obtaining knowledge of any infringement or
threatened infringement of Licensor's rights to the Know-How, immediately
notify Licensor thereof together with all relevant details. Licensor
shall have the right, at its own cost, to prosecute or otherwise stop or
prevent such actual or threatened infringement in the name of both
Licensor and Licensee or either of them, and in each case Licensee shall
render all assistance required by Licensor. All amounts received by
Licensor in connection with any action taken against such infringement
pursuant to this Article shall either be the property of the Licensor, if
the Licensor prosecutes such claim, or the property of the party under
whose name the prosecution is made.
6.05 If Licensor decides not to take any action in respect of any
infringement or threatened infringement, it shall notify the Licensee of
this decision within thirty (30) days after receipt of a written notice
from the Licensee pursuant to Article 6.04 hereof. Upon receipt of
Licensor's written notice of its decision not to take any action, the
Licensee may, at its own discretion and cost, prosecute or otherwise stop
or prevent such actual or threatened infringement in the name of both the
Licensor and the Licensee or either of them. All amounts received by the
Licensee in connection with any action taken against such infringement
pursuant to this Article shall either be the property of both the
Licensor and the Licensee or the property of the party under whose name
the prosecution is made, at the reasonable discretion of Licensor.
6.06 The Licensee shall indemnify the Licensor from any liability for defects
in the Contract Products manufactured by the Licensee.
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6.07 In the event that the Licensee develops any Improvements or
Modifications, the Licensee shall license the Improvements or
Modifications to the Licensor free of charge and with the right of the
Licensor to sublicense such license. As used in this Article 6.07, the
term "Improvements" shall mean all improvements which change the
functions, characteristics or performance of the Contract Products and
the term "Modifications" shall mean all changes to the Contract Products
which do not modify their respective functions and characteristics.
ARTICLE 7. ACCOUNTS AND RECORDS/QUALITY INSPECTION
---------------------------------------------------
7.01 Concurrently with the payment by the Licensee of the royalties owed at
the end of each Calendar Quarter, the Licensee shall transmit to the
Licensor (a) copies of receipts for any taxes withheld from such payments
and (b) a written report of the Net Sales in a form approved by the
Licensor for such Calendar Quarter, giving the names and addresses of all
customers, both the unit and total prices of such Net Sales of the
Contract Products to each such customer, the type of Contract Product
sold and its related channel configurations.
7.02 The Licensee shall keep accurate and complete books and records of all
Contract Products manufactured and sold including the quantities and
invoice prices. The term of this Article 7.02 shall survive the
termination or expiration of this Contract for a period of ten (10)
years.
7.03 The Licensee shall permit the Licensor or its representatives at all
reasonable times to inspect and take copies of or extracts from any
documents in the possession or under the control of the Licensee so as to
enable the Licensor to ascertain the royalties payable by the Licensee
hereunder.
7.04 The Licensee shall be responsible for maintaining the quality standard of
the Contract Products. If at any time Licensor determines that the
Licensee is not fulfilling these obligations, Licensor shall notify the
Licensee of the deficiencies that it believes exist
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and proposed methods for correction. Licensee shall cause the correction
to be made within twenty (20) days after the notification.
7.05 Licensor shall be entitled at any time upon reasonable notice being
given to Licensee to enter the Contract Plant in order to inspect the
manufacture of the Contract Products.
ARTICLE 8. CONFIDENTIALITY
---------------------------
8.01 All Know-How, advice, and other information (together referred to as
"Confidential Information") provided by Licensor pursuant to this
Contract shall be kept strictly confidential by Licensee and shall be
used solely for its own benefit in connection with the manufacture and
sale of the Contract Products.
8.02 Licensee hereby covenants and agrees to keep all Confidential Information
furnished to it confidential and not, without the prior express written
consent of Licensor, to communicate the Confidential Information or allow
the Confidential Information to be communicated to anyone except its own
employees, and then only to such extent as may be necessary for the
proper performance by such employees of their assigned tasks.
8.03 In order to ensure the observance of Articles 8.01 and 8.02 above by the
Licensee's employees, the Licensee shall cause each of its employees with
access to Confidential Information referred to in Article 8.01 and 8.02
above to sign a confidentiality agreement in the form of Annex 3.
8.04 Licensee's obligations under this Article 8 shall survive the expiration
or termination of this Contract and shall continue in effect for a
further period of ten (10) years.
8.05 The obligations of confidentiality, secrecy, non-disclosure and the
restrictions of use contained herein shall not apply to Confidential
Information which the Licensee can
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demonstrate: (i) is available to the public at the time it is disclosed
or thereafter becomes available to the public; (ii) is known to the
Licensee at the time of disclosure; or (iii) properly comes into the
possession of the Licensee from an independent source.
ARTICLE 9. TAXES
-----------------
9.01 All taxes arising in connection with the performance of this Contract
that are imposed on Licensee in accordance with the tax laws of the
People's Republic of China shall be borne by Licensee.
9.02 Except as may otherwise be provided herein, all taxes imposed on
Licensor in accordance with the tax laws of the People's Republic of
China shall be borne by Licensor. In the event that Licensee is obligated
to act as a withholding agent for taxes to be paid by the Licensor to the
Chinese governmental authorities, the Licensee shall maintain complete
records of all amounts withheld along with receipts received from the
Chinese governmental authorities and shall provide copies of such
materials to the Licensor.
9.03 All taxes imposed outside China in connection with payments made to
Licensor under this Contract shall be borne by Licensor.
ARTICLE 10. EFFECTIVE DATE, TERM AND TERMINATION
-------------------------------------------------
10.01 Pursuant to Article 4 of the Regulations of the People's Republic of
China for the Control of Technology Import Contracts, the Effective Date
of this Contract shall be the date when the Approval Authority issues an
approval certificate in respect of this Contract.
10.02 The term of this Contract shall be ten (10) years commencing on the
Effective Date. In the event that one Party desires to renew this
Contract, it shall give written notice
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of such intention to the other Party not later than six (6) months prior
to the expiry of this Contract. In such case, the parties shall discuss
the renewal of this Contract.
10.03 Either Party shall have the right to terminate this Contract prior to the
expiration of the Contract Term under any of the following circumstances:
(a) if the other Party commits a material breach of this Contract and
such breach is not cured within thirty (30) days after written
notice from the other Party to the Party in breach;
(b) if the other Party fails to make any payment required hereunder when
the same becomes due and payable;
(c) if the conditions of Force Majeure prevail for a period in excess of
six (6) months and the Parties have been unable to find an
equitable solution pursuant to Article 12; or
(d) if the other Party becomes bankrupt or is the subject of proceedings
for liquidation or dissolution, or ceases to carry on business or
becomes unable to pay its debts as they become due.
10.04 Termination as set forth above may be effected by the terminating Party
giving the other Party thirty (30) days' prior written notice specifying
the reason for such termination and shall become effective upon the
expiration of such thirty-day period.
10.05 Upon the termination of this Contract under any circumstances, any
royalties accrued, due and payable by one Party to the other Party
hereunder shall be fully paid within one (1) month, all Technical
Documentation shall be returned immediately to Licensor and the Licensee
shall immediately cease manufacturing and selling the Contract Products.
On no account shall such royalties or Technical Documentation be withheld
on the ground of a dispute arising out of or in relation to this Contract
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or as a set-off against any claim for damages sought to be put forward by
the Party liable to pay such moneys or to return the Technical
Documentation.
The terms of this Article 10.05 shall survive the termination of this
Contract.
ARTICLE 11. SETTLEMENT OF DISPUTES
-----------------------------------
11.01 In the event a dispute arises in connection with the interpretation or
implementation of this Contract, the Parties shall attempt in the first
instance to resolve such dispute through friendly consultations. If the
dispute is not resolved in this manner within sixty (60) days after the
commencement of discussions, then any of the Parties may submit the
dispute for arbitration in Singapore for final decision pursuant to the
Arbitration Rules of the United Nations Commission on International Trade
Law. The appointing authority shall be the Singapore International
Arbitration Centre, with instructions that the arbitration be conducted
as follows:
(a) the arbitrators shall refer to both of the Chinese and English
texts of this Contract;
(b) there shall be three (3) arbitrators.
11.02 The arbitration award shall be final and binding on the Parties, and the
Parties agree to be bound thereby and to act accordingly.
11.03 The costs of arbitration shall be borne by the losing Party, unless
otherwise determined by the arbitration award.
11.04 When any dispute occurs and when any dispute is under arbitration, except
for the matters under dispute, the Parties shall continue to exercise
their remaining respective rights, and fulfil their remaining respective
obligations under this Contract.
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ARTICLE 12. FORCE MAJEURE
--------------------------
12.01 "Force Majeure" shall mean any event which is beyond the control of the
Parties to this Contract, and which is unforeseen, or if foreseen,
unavoidable, and which prevents total or partial performance by Party.
Such events shall include but are not limited to any strikes, lockouts,
explosions, shipwrecks, acts of nature or the public enemy, fires, flood,
sabotage, accidents, strikes, wars, riots, interference by military
authorities, insurrections, and any other similar or different
contingency.
12.02 If an event of Force Majeure occurs, to the extent that the contractual
obligations of the Parties to this Contract (except the obligations under
Article 8) cannot be performed as a result of such event, such
contractual obligations shall be suspended during the period of delay
caused by the Force Majeure and shall be automatically extended, without
penalty, for a period equal to such suspension.
12.03 The Party claiming Force Majeure shall promptly inform the other Party in
writing of the occurrence and duration of such Force Majeure. The Party
claiming Force Majeure shall also use all reasonable endeavours to
terminate the Force Majeure.
12.04 In the event of Force Majeure, the Parties shall immediately consult with
each other in order to find an equitable solution and shall use all
reasonable endeavours to minimize the consequences of such Force Majeure.
ARTICLE 13. GOVERNING LAW
--------------------------
13.01 The validity, interpretation and implementation of this Contract shall be
governed by the laws of the State of Colorado.
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ARTICLE 14. MISCELLANEOUS
--------------------------
14.01 Notwithstanding anything to the contrary herein, Licensee agrees to
comply with all governmental restrictions imposed by United States of
America on the re-export, directly or indirectly, of the Know-How, the
Contract Products or other direct products of the Know-How. To the best
of Licensor's knowledge, the licensing or disclosure by Licensor to
Licensee of the Know-How does not violate the laws or regulations of the
United States of America or any agency thereof in effect as of the date
of this Contract. If, however, subsequent to the Effective Date, such
laws or regulations do prohibit or restrict such license or disclosure,
such prohibition or restriction shall constitute an event of Force
Majeure under Chapter 12 hereof.
14.02 This Contract is executed in the English and Chinese languages. Both
language version are equally authentic.
14.03 During the Contract Term, all correspondence between the Parties shall be
in the English language.
14.04 This Contract constitutes the entire agreement between the Parties with
respect to the subject matter hereof and supersedes any prior expression
of intent or understanding relating hereto. This Contract shall not be
modified or amended except by a written agreement signed by all of the
Parties.
14.05 The waiver by a Party of any breach of any obligation owed to it under
this Contract shall not extinguish the obligation or prevent the Party
from later enforcing such obligation.
14.06 All notices given by any of the Parties to the others shall be in writing
and sent by registered airmail, or by cable or telex (copies of which are
to be subsequently forwarded as confirmation by registered airmail), or
by facsimile to the other Party's address as indicated below or any other
address notified in lieu thereof. Notice shall
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be deemed delivered on the fourteenth (14) day after posting or two (2)
days after a cable is sent or on the day after a telex is sent or upon
being sent by facsimile and evidenced by a confirmation report.
To: Hathaway Power Monitoring Systems Company, Ltd.
2 Qiujiawan, Guangbutun,
Wuhan, 430072
People's Republic of China
Attention: General Manager
Facsimile: To Be Provided.
To: Hathaway Corporation
8228 Park Meadows Drive
Littleton, Colorado, 80124
United States of America
Attention: Eugene Prince
Facsimile: 1-303-799-8880
14.07 This Contract may be executed in six (6) or more counterparts, each of
which shall be deemed to be an original, but all of which together shall
constitute one and the same contract.
IN WITNESS WHEREOF, the Parties hereto have caused this Contract to be executed
by their duly authorised representatives as of the date first above written.
HATHAWAY CORPORATION
_______________________________
Name: Eugene Prince
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Title: President and Chief Executive Officer
WUHAN ELECTRIC POWER INSTRUMENT FACTORY FOR AND ON THE BEHALF OF HATHAWAY POWER
MONITORING SYSTEMS COMPANY, LTD.
__________________________
Name: Yuan Jiaqing
Position: Director - Senior Engineer
BEIJING HUADIAN ELECTRIC POWER AUTOMATION CORPORATION FOR AND ON THE BEHALF OF
HATHAWAY POWER MONITORING SYSTEMS COMPANY, LTD.
__________________________
Name: Xu Quankun
Position: General Manager
Ratified by HATHAWAY POWER MONITORING SYSTEMS COMPANY, LTD. after the issuance
of its Business License and at the first meeting of the board of directors.
________________________________
Name:
Title: Chairman of the Board
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