EXHIBIT 6.3
AGREEMENT
The Energy Venture Inc. Group of companies( EVI) will give to the Young Poong
Corporation( YP ), a six month option on a license for the use of the EVI
proprietary Nickel Zinc technology on the following terms.
YP will provide AA and AAA battery making parts and materials to EVI for
use in making samples of the technology. EVI will provide samples to YP within
120 days and YP will test the samples and provide the data to EVI. In the event
that YP is interested in the technology, they will complete a manufacturing test
using their existing battery equipment.
If, on or before the six month period is up, YP decides that they wish to buy a
license, EVI agrees to negotiate in good faith to reduce the price by $500,000
US from the standard license price and will negotiate a 3 % royalty that can be
further reduced over time or above particular volumes.
In addition EVI and YP agree to negotiate in good faith for YP to become a
partner with EVI in the manufacturing of these cells or to become a contract
manufacturer. Both parties agree to negotiate in good faith any other terms and
conditions for this agreement and EVI will guarantee that they will offer terms
that are as good or better than any other equivalent license or agreement that
is in effect at that time.
In the event that no license is entered into within eight months of the last
signing date, neither party shall have any further obligation or liability to
the other party under the terms of this agreement.
Signed by X .X. Xx. Date 14 Feb 2000
On Behalf of Young Poong Corporation
Signed by X. X. Xxxxxxxx Date 21 Feb 2000
On Behalf Of Energy Ventures Inc.
