EXHIBIT 10(iii)
ASSIGNMENT AGREEMENT
This ASSIGNMENT AGREEMENT (this "Agreement") is made as of the 3rd day of
April, 2001, by and among Aluminum-Power, Inc. (hereinafter "Aluminum-Power" or
"Assignor") and Trimol Group, Inc. (the "Assignee").
W I T N E S S E T H:
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WHEREAS, Sagem and Aluminum-Power entered into that certain Cooperation
Agreement (the "Cooperation Agreement"), dated December 8, 2000, whereby
Aluminum-Power and Sagem agreed to cooperate in the development of an
Aluminum-air fuel cell that will serve as the power source for Sagem's cellular
phones.; and
WHEREAS, the Cooperation Agreement provides that neither party may transfer
or assign the Cooperation Agreement without the prior written consent of the
other; and
WHEREAS, Aluminum-Power has requested from Sagem and Sagem has agreed to
consent to the assignment of the Cooperation Agreement from Aluminum-Power to
Assignee;
NOW THEREFORE, for and in consideration of one dollar ($1.00) and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Aluminum-Power and Assignee do hereby agree as follows:
1. Aluminum-Power hereby sells, assigns and conveys to Assignee all of
Aluminum-Power's rights, title and interest in and to the Cooperation Agreement.
2. Assignee hereby assumes and agrees to perform all of Assignor's
obligations under the Cooperation Agreement.
3. This Agreement may be executed in any number of counterparts, each of
which shall be an original, but such counterparts together shall constitute one
and the same agreement.
4. The terms and provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective permitted
successors, heirs and permitted assigns.
IN WITNESS WHEREOF, this Agreement is executed by the parties as of the
date hereinabove first set forth.
ALUMINUM-POWER, INC.
/s/ Xxxx Xxxxxxxxx
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Name: Xxxx Xxxxxxxxx
Title: VP Sales
TRIMOL GROUP, INC.
/s/ Xxxxxxxxx Xxxxxx 4/3/01
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Name: Xxxxxxxxx Xxxxxx
Title: President
