VALUE ESCROW AGREEMENTValue Escrow Agreement • November 12th, 2004 • AccelRate Power Systems Inc. • British Columbia
This Agreement is being entered into by the Parties in connection with the issuance of shares in the capital of Accelrate Power Systems Inc. (the "Issuer") in payment of the purchase price for the acquisition of technology from Petrovic in accordance with the terms of a purchase agreement (the "Purchase Agreement") of even date herewith between the Escrow Agent and Petrovic, under TSX Venture Exchange (the "Exchange") Policy 5.3 – Acqusitions and Dispositions of Non-Cash Assets, in substantially the form of escrow agreement prescribed for transactions governed by Exchange Policy 5.4 - Escrow, Vendor Consideration and Resale Restrictions (the Policy).
