Exhibit 4.1
Agreement between:
Xxxxxx X. X'Xxxxx
And
New World Batteries, Inc
September 20, 2004
I, Xxxxxx Xxxxxxx O'Brien hereby agree that New World Batteries, Inc and
successor companies will have the exclusive use of US patents pending in the
research areas related to magnetic stirring of electrolytes in any kind of
electrochemical cell and any international patents that are granted based on the
US patent(s) for the entire life of the patent(s). This agreement includes
research in progress utilizing the above method for which patents may be filed
in the future.
Except:
In the event that New World Batteries, Inc or its successor companies becomes
insolvent, is wound down, or is unable to carry on business for whatever reason,
all rights to the patents revert to my heirs or myself.
In the event that an acceptable takeover offer for NWB is received and approved
by the board, Dr. Xxxxxx X'Xxxxx agrees to dissolve this agreement and transfer
the ownership of all patents in their entirety as provided for in the takeover
offer.
/s/ Xxxxxx X. O`Brien
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Xxxxxx X. O`Brien
For New World Batteries, Inc
/s/ Xxxxxxx X'Xxxxx
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Xxxxxxx X'Xxxxx, CEO