EXHIBIT 6.54
EUROPEAN INVESTOR RELATIONS CONSULTING AGREEMENT
SUPPLEMENTAL AGREEMENT #1
September 1, 2001
Between: XXXXXXXXX FINANCE CORP., And: IQ POWER TECHNOLOGY INC.
(the "Consultant") (the "Company")
At: c/o Buser Management, At: x/x Xxxxxxxx Xxxx, Xxxxxxxxxxx
Xxxxxxx. 00, XX-0000 Zurich, Xxxxxxx 0,
Xxxxxxxxxxx D-82008 Unterhaching, Germany
Facsimile: ________________ Facsimile: 011-4989-614483-40
IN CONSIDERATION of the mutual promises and covenants and the terms and
conditions herein and the extraordinary services of the Consultant under the
European Investor Relations Consulting Agreement between them dated May 7, 2001
(the "IR Agreement"), the Company and the Consultant hereby agree to supplement
the IR Agreement, as follows:
Position: The position of the Consultant shall remain as originally
stated in the IR Agreement.
Additional The description of Services shall be amended to include:
Services a. negotiating with Porsche for the purpose of concluding
a letter of intent or formal agreement for the testing
and use of the Company's technology by Porsche; and
b. coordinating the preparation and dissemination to
institutional investors of not less than one in-depth
and independently verified or prepared research report
on the Company.
Term of The provisions of this Supplemental Agreement shall be in
Amendment addition to the IR Agreement, have a term of 4 months, be
deemed to have commenced on September 1, 2001, and
notwithstanding the date of execution. Any termination of
this Supplemental Agreement in accordance with its terms
shall not effect the original terms of the IR Agreement.
Period of The period of services shall remain as originally stated in
Services: the IR Agreement except that the Additional Services
described herein shall be provided as soon as practicable
during the 4 month term of this Supplemental Agreement.
Bonus: In recognition of the extraordinary contributions of the
Consultant to the undertaking of the Company pursuant to the
IR Agreement, the Company hereby awards the Consultant and
agrees to pay an immediate bonus of US$70,000 forthwith
following execution of this Supplemental Agreement.
Compensation: As consideration for the Additional Services of the
Consultant hereunder, the Company shall pay the Consultant
an additional monthly fee of US$25,000 for each calendar
month during the term of this Supplemental Agreement, each
such installment due within 7 days of the end of the
calendar month for which that installment accrued due.
Continued IR Except as supplemented or amended hereby, the terms and
Agreement: conditions of the IR Agreement remain in full force and
effect.
Executed and delivered by and on behalf Executed and delivered by and on
of the Company at Unterhaching, Germany, behalf of the Consultant at _____,
effective _1/09/2001___. effective __01/09/2001__________.
IQ POWER TECHNOLOGY INC. XXXXXXXXX FINANCE CORP.
Per: __/s/Xxxxx Braun_________ Per: _/s/ Xxxx Forrester_________
Xxxxx Xxxxx, President Xxxx Xxxxxxxxx, Director
