Research Econometrics
SUBLEASE AGREEMENT
Xxxxx Xxxxxx Xxxx
Xxxxxxxxx, XX 00000
March 31, 2000
WHEREAS Cyberlux Corporation, a corporation in formation, has expressed its
intention to use certain equipment that are the holdings or property of Research
Econometrics, LLP, this document sets forth the understandings between Research
Econometrics, LLP, the lessee of spaces, owner of all articles of furniture, and
equipment, and Cyberlux, a business in formation, relative to use and enjoyment
of such properties by Cyberlux on a month to month basis, commencing April
1, 2000 and continuing until such use and enjoyment is terminated by either
party on thirty days notice in writing.
The spaces are defined as that particular 12' by 14' office located in the
Northeast corner of the property situated at 00 Xxxxxx Xxxx in the Village of
Pinehurst, North Carolina and adjacent common spaces consisting of restroom
facilities, storage closets and conference room access. Equipment consists of
two telephone units; two calculators; one HP printer, copier, fax; one IBM
typewriter; one IBM computer with CTX color monitor and Logitech keyboards.
Furniture and fixtures consist of two leather executive swivel chairs; two
executive desks; two 2 drawer cabinets; one lateral file cabinet; one xxxxxx
xxxx storage cabinet ; one steel typewriter table; two brass banker's lamps,
two extended halogen task lamps and various desktop appurtenances.
FOR VALUE RECEIVED, Research Econometrics, LLP hereby sublets the spaces
heretofore described with the furniture , fixtures and equipment contained
therein as detailed above for a monthly fee of Six Hundred Fifty Dollars ($650),
such fee to be part of a management support fee billed monthly until June 30,
2000, thereafter as rental only monthly.
Research Econometrics, LLP Cyberlux Organization
By: /s/ X. X. Xxxxx By: /s/ Xxxxxx X. Xxxxx
-------------------- -------------------------
Research Econometrics
March 29, 2000
Xxxxxx X. Xxxxx
Cyberlux Corporation
Xxxx Xxxxxx Xxx 0000
Xxxxxxxxx, XX 00000-0000
Re: Time sheet records, Patent Application
Dear Xx. Xxxxx:
Our billing records reflect time charges for the Provisional Patent entitled
"Electrochemical Portable Power- Plant and Lighting System" of 187.5 hours.
The ledger is annotated for entries which allocate 179 hours to research and 8.5
hours to document preparation. The project, Wilderness Power & Light, was to be
billed at your rate of $175 per hour or $32,812.50 plus expenses.
Your travel expanse charged to the project was $3,410.12, the filing fee was $75
and communications expense to PU AN in Taipei was $287.34. Time and expense
charges total $36,584.96. Should you require further information, please call me
or ism at your convenience.
Personal regards.
Research Econometrics
March 24, 2000
Xxxxxx X. Xxxxx
Xxxx Xxxxxx Xxx 0000
Xxxxxxxxx XX 00000-0000
Re: Charges for services and equipment
Dear Xx. Xxxxx:
Our records indicate that your draw from April, 1999 through February, 2000 that
was charged to "light research and development" including auto expense,
equipment renal, space and utilities was $63,022.94.
The plan to move forward with the incorporation of Cyberlux will the record of
R&D expenses on behalf of the Partnership effective March 31, 2000. Your
allocation through the end of March is $5,730.00 which reflects a total charge
to the Partnership of $68,752.94. I have been advised by Xx. Xxxxxxx that you
will arrange issuance of 750,000 shares of the new corporation's common stock
valued at approximately $.10 per share to reflect investment of funds expended
on behalf of the Partnership
Effective April 1, 2000, the Partnership will xxxx Cyberlux Corporation a flat
fee of $3,850 per month through June 30, 2000. The fee structure accounts for
$2,600 allowance to Xxxxxx X. Xxxxx, $600 auto allowance and $650 in rentals.
Subsequent to June 30, 2000, the Partnership will xxxx Cyberlux Corporation $650
in rentals only.
The foregoing is my understanding of the accounting as dictated in the Partners'
Memorandum of March 22, 2000. Your question relative to the Provisional Patent
charges can be documented from time applications in our projects files. I will
advise you of those notations next week.
Personal regards
Research Econometrics, LLP
/s/
Xxxxxxx Xxxxxxx,
Business Manager
Post Office Box 1381, 000 Xxxxxx Xxxxx Xx. Xxxxx, Xxxxx Xxxxx, XX. 00000
