ASSIGNMENT
Whereas, Xxxxx Xxxxx ("Inventor") is the Owner of certain new proprietary
technology and processes involving an ElectroChem Hydrogen Fuel Reactor
("Invention") and certain Australian and International Patent Applications
covering the Invention and all modifications and improvements related thereto
("Patent Application"); and
Whereas, Inventor has agreed to sell and assign all rights, titles and
interests in the Patent Applications and the Invention and all related good will
associated thereto to Hydro Environmental Resources, Inc., 0000 Xxxxx Xxxx,
Xxxxx 000, Xxxxx, XX 00000-3545 ("Hydro"); and
Whereas, the parties desire to evidence the assignment (Assignment) by
filing this instrument with the Australian and International Patent and
Trademark Offices.
Now, therefore, for $10.00 and other good and valuable consideration, the
receipt, adequacy and sufficiency of which is hereby agreed, accepted and
acknowledged:
1. Inventor hereby sell, assigns, transfers, conveys and delivers unto Hydro
and its successors and assigns ALL rights, titles, and interests in the
Invention and the Patent Application and all improvements, modifications,
and revisions related thereto, together with all extensions, reissues,
reexaminations and all good will associated with any of the foregoing
rights, and ALL such other rights, at law or in equity, including the right
to sue for and recover damages in connection with any past and continuing
infringement thereof.
2. Inventor hereby appoints Hydro and its successors and assigns as its agent
in fact to execute on Inventor's behalf any and all other document,
instruments, assignments, and conveyance documents necessary or advisable
in order to secure, record and enforce the Assignment of the Invention and
the Patent Applications herein made. Inventor hereby agrees to cooperate
and assist Xxxxx to further evidence the Assignment in the Patents in any
manner reasonably requested by Xxxxx.
3. It is the agreed and expressed intent of the parties that Hydro and its
successors and assigns shall own, hold and enjoy, as fully and entirely as
the same would have been owned, held and enjoyed by Inventor, all rights,
titles, interests and entitlements of Inventor in the Invention and the
Patent Application as if no sale or assignment had been made hereunder.
IN WITNESS WHEREOF, the parties have executed and acknowledged this
instrument with all requisite power and authority, intending to be legally bound
hereby for all purposes effective this 16th day of June, 1999.
Hydro Environmental Resources, Inc.
By /s/ XXXXX XXXXX By /s/ XXXX XXXX
_______________________________ ________________________________________
Xxxxx Xxxxx Xxxx Xxxx, President
