Exhibit No. 10.4
----------------
LOAN AGREEMENT
between
SWISSMETAL
UMS Swiss Metalworks Holding Ltd.
CH-3006 Bern
(hereafter Swissmetal)
and
Memry Corporation
00 Xxxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
(hereafter Memry)
--------------------------------------------------------------------------------
1. From the sale of AMT Memry owes to Swissmetal a compensation payment of
$455,650 due on October 31, 1998.
2. Swissmetal agrees to convert this debt into a loan of the same amount.
3. The loan is to be reimbursed on June 30, 2000 in full.
4. Interest on the loan is 1.25% per month payable monthly within 10 days
after month end.
5. In case the interest payment schedule is not met the balance of the loan
becomes immediately due and repayable within 10 days.
For SWISSMETAL For Memry Corporation
UMS Swiss Metalworks Holding Ltd.
/s/ /s/
------------------------------ -----------------------
