[SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA LOGO]
SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA
MODIFICATION TO THE CONTRIBUTION AGREEMENT
MODIFICATION NUMBER: M1
THIS MODIFICATION TO THE CONTRIBUTION AGREEMENT ("The Modification") is made in
triplicate this 6 day of April, 2004 (the "Effective Date") between Canada
Foundation for Sustainable Development Technology, a corporation without share
capital incorporated under the Canada Corporations Act Canada (Canada) and
continued under the Canada Foundation for Sustainable Development Technology Act
(Canada) (hereinafter referred to as "SDTC") and West Lorne BioOil Co-Generation
Limited Partnership a Limited Partnership formed under the laws of Ontario,
Canada (hereinafter referred to as the "Lead Contractor").
WHEREAS SDTC is a not for profit foundation constituted for the purpose of
fostering the development and adoption of technologies that contribute to a
sustainable development technology infrastructure in Canada by contributing to
the rapid development, demonstraion and pre-commercialization of technological
solutions which address climate change and air quality: and
WHEREAS SDTC has entered into an agreement (the "Funding Agreement") with Her
Majesty the Queen in Right of Canada represented by the Minister of Natural
Resources and the Minister of the Environment dated March 26, 2001
WHEREAS SDTC and the Lead Contractor have entered into a Contribution through
which SDTC will provide a funding contribution for the Lead Contractor to
perform the project entitled "The Erie Flooring BioOil Cogeneration Plant" as
described in the Contribution Agreement which has been assigned the contract
number SDTC-2002-B-448. This Modification will be titled SDTC-2002-B-448-MI
The Contribution Agreement is hereby modified to incorporate the following
change(s)
1. On page 5, the "Master Consortium Agreement" should be defined as:
"... among Dynamotive Energy Systems Corporation,Erie Flooring & Wood Products,
Magellan Aerospace Limited, Ontario Power Generation Inc. and West Lorne Biooil
Co-Generation Limited Partnership."
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SDTC-2002-B-448 CONFIDENTIAL
2
On page five (5) of the Contribution Agreement the Definition of Master
Consortium Agreement is hereby changed from:
"Master Consortium means the agreement dated February 11, 2004 among Dynamotive
Energy Systems Corporation, Satin Finish Hardwood Flooring Limited, Erie
Flooring and Wood Products Ltd. And Magellan Aerospace Corporation.
On page five (5) of the Contribution Agreement the Definition of Master
Consortium Agreement is hereby changed to:
"Master Consortium Agreement" means the agreement dated February 11, 2004 among
Dynamotive Energy Systems Corporation, Erie Flooring & Wood Products, Magellan
Aerospace Limited, Ontario Power Generation Inc, and West Lorne BioOil
Co-Generation Limited Partnership.
IN WITNESS WHEREOF this Modification has been executed by the parties hereto as
of the Effective Date,
Canada Foundation for Sustainable Development
Technology
By:/s/ Greg Graham
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Name: Greg Graham
Title: Vice President, Operations
By:/s/ Victoria Sharp
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Name: Dr. Victoria Sharp
Title: President and CEO
West Lorne BioOil Co-Generation Limited
Partnership, by its general partner,
DynaMotive Canada Inc.
By:/s/ Richard Lin
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Name: Richard Lin
Title: Chairman
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SDTC-2002-B-448 CONFIDENTIAL