Translation from the German into the English Language
Extension of the Contract
Exhibit 6.24
Page 1 of 2
Extension of the Contract
to
Contract Regarding Industrial Protection Rights and Know-How
dated 15.03.1995 between
Mr. H. Xxxxxx Xxxxx, Schrenckweg 1, 85658 Egmating,
Xx. Xxxxx X. Xxxxx, Schopenhauerstr. 33, 85579 Neubiberg, and
the iQ Battery Research & Development GmbH, Inselkammerstr. 4, 82008
Unterhaching.
1.
Messrs. X. Xxxxxx and Xxxxx X. Xxxxx agree that the amount of DM 400,000.00
(Sec. 2 1. as of the above named Contract) is divided in the following
proportion: to Xx. X. Xxxxxx Xxxxx XX 300,000.00 and to Xx. Xxxxx X. Xxxxx XX
100,000.00.
2.
Messrs. X. Xxxxxx and Xxxxx X. Xxxxx and iQ Battery Research & Development GmbH
agree that payments made by iQ Battery Research & Development GmbH on the
existing, at the time of concluding the above named Contract, loan
a. to Mr. H. Xxxxxx Xxxxx
aa. at the Dresdner Bank Berlin (original loan amount approx. DM 170,000.00)
bb. at the Deutsche Bank Berlin (original loan amount approx. DM 90,000.00)
cc. at the BCI Munich (original loan amount approx. DM 15,000.00)
b. to Xx. Xxxxx X. Xxxxx
aa. at the Dresdner Bank Dresden (original loan amount approx. DM 50,000.00)
bb. at the Deutsche Bank Berlin (original loan amount approx. DM 20,000.00)
cc. at the Deutsche Bank Fulda (original loan amount approx. DM 50,000.00)
will reduce the above named demand of Messrs. X. Xxxxxx and Xxxxx X. Xxxxx
against iQ Battery Research & Development GmbH (ss. 2 1. of the above named
Contract).
Page 2 of 2
for the iQ Battery Research & Development:
. . . . . . . . day of 20.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (H. Xxxxxx Xxxxx)
. . . . . . . . day of 01.7.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxx X. Xxxxx)
as former Shareholders of iQ Battery Research & Development GmbH in mutual
acceptance of the above:
. . . . . . . . day of 20.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (H. Xxxxxx Xxxxx)
. . . . . . . . day of 31.7.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxx X. Xxxxx)
as Shareholders of iQ Battery Research & Development GmbH in mutual acceptance
of the above:
. . . . . . . . day of 20.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xx. Xxxxxxx Xxxxx)
. . . . . . . . day of 18.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxx Xxxxx)
. . . . . . . . day of 31.07.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxx X. Xxxxx)
. . . . . . . . day of 18.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxxx Xxxxx)
. . . . . . . . day of 20.9.1996 . . . . . . . . . . . . . . . . . . .
(place) (Xxxxx Wittkewitz)
