March 2, 2012Letter of Intent • March 16th, 2012 • Save the World Air Inc • Motor vehicle parts & accessories • California
This letter of intent (“LOI”) is entered into by and between Save the World Air, Inc. (“STWA”) and LG Partners, LLC (“LGP”). STWA and LGP are sometimes referred to herein as the “Parties” and individually as a “Party.” The Parties enter into this LOI for the purpose of setting forth their mutual expressions of interest regarding their intent to proceed with the consideration and evaluation of transactions by which STWA would sub-license or otherwise sell or grant to LGP certain rights or products, which are based on STWA’s proprietary technology, known as Applied Oil Technology (the “AOT Technology”). This LOI supersedes and replaces in its entirety that certain “Pro Forma Agreement,” between the Parties, dated February 29, 2012.
