Binding Memorandum of UnderstandingBinding Memorandum of Understanding • April 27th, 2018 • Eviation Aircraft Ltd. • Services-computer integrated systems design
This Binding Memorandum of Understanding (“MOU”) is made and entered into as of February 18, 2018 (the “Effective Date”),by and between Eviation Aircraft Ltd., an Israeli company (the “Company”) and Udi Sheleg of 59 Redington road, London, UK (“Udi”) (the Company and the Investor shall together be referred to herein as the “Parties”).
Technology Evaluation AgreementTechnology Evaluation Agreement • April 27th, 2018 • Eviation Aircraft Ltd. • Services-computer integrated systems design
Siemens develops and manufactures electrical propulsion units for aviation. Customer develops and manufactures aircrafts - in particular an electrically powered 9-seat commuter airplane - for which it wishes to test the electrical propulsion unit from Siemens, with such testing being conducted by Customer under its sole responsibility. Therefore Siemens shall hand an electrical propulsion unit over to customer for a limited period of time to enable Customer to evaluate and test the technology for Customer’s purposes consistent with the agreed-to protocol set forth in this Agreement. Customer shall test the electrical propulsion unit and implement it into a Customer aircraft as described in Annex 1 (hereinafter “Aircraft”) on its own account and risk for non-military testing purposes. Customer shall report to Siemens the testing data.
