May 13, 1998
Dominion Capital Pty. Ltd.
0 Xxxxxx Xxxxxx
Xxxxxxxxxx 0000
Xxxxxxxx, Xxxxxxxxx
Attention: Mr. Xxxxx Xxxx, President & Managing Director
Dear Sir:
Re: Addendum to Acquisition Agreement Dated November 24, 1997
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Pursuant to an Acquisition Agreement (the "Agreement") dated November 4, 1996
between Solpower Corporation, formerly Virtual Technologies, Inc., (the "Buyer")
and Dominion Capital Pty. Ltd., (the "Seller") the Buyer acquired the exclusive
sales, distribution, marketing and manufacturing rights for the Solpower
product, SOLTRON(TM) for the United States, Mexico and Canada.
The Buyer and the Seller effective this 13th day of May, 1998 have agreed to an
addendum to the Agreement by adding the following item E to paragraph 1:
E. OFFER, ON A FIRST RIGHT OF REFUSAL BASIS, AN INTEREST IN ALL OTHER
TERRITORIES, EXCEPT JAPAN, WHERE SOLTRON(TM) AND OTHER PRODUCTS
AND SERVICES ARE CURRENTLY BEING COMMERCIALIZED BY THE SELLER, ON
TERMS AND CONDITIONS TO BE NEGOTIATED ON A PRODUCT BY PRODUCT AND
A TERRITORY BY TERRITORY BASIS.
The Buyer and Seller have executed this Amendment Agreement as of the date first
set forth above.
SOLPOWER CORPORATION DOMINION CAPITAL PTY. LTD.
/s/ Xxxxx X. Xxxxx /s/ Xxxxx Xxxx
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By: Xxxxx X. Xxxxx By: Xxxxx Xxxx
President & CEO Chairman & Managing Director
WITNESSED:
By: Xxxx Xxxxxxxx on this 21st day of May, 1998.
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