EXHIBIT 10.34
ANSALDO RICERCHE
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Ansaldo Ricerche S.r.l. Order no. M 0286/00 The correspondence regarding the present
Xxxxx Xxxxxxx, 00 document must refer to the complete
00000 Xxxxx XXXXX particulars referred to alongside hereof
Te. 010 6551, Telex 271274 ANSAR 1, Fax 000 000000 and be addressed as specified below.
ANSALDO RICERCHE shall not be liable for
the consequences of any possible
forwarding of the correspondence carried
out contrary to what is specified.
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Tax ID no., VAT no. 03285280107 Date FEB. 13, 1997 to:
C.C.I.A.A. 000000 Xxxxx XX XXXX S.p.A.
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Registered office: Xxxxx 00000 Project XXX XXXXXXX RICERCHE VIA BISTOLFI, 35
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Capital 19,320,000,000 lire Supplier code D6441T 350-9001 20134 MILAN
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IPN FINMECCANICA
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You are granted this order on the conditions contained herein, which nullify and For business correspondence:
replace any other condition contained in the terms of sale. The validity of this
order is contingent on the receipt, within 30 days of date contained herein, of Ansaldo Nuclear Division
your letter of unconditional acceptance as per the attached fax. Xxxxx Xxxxxxx, 00
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Ref. 00 XX XXXX XXXX XXXXXX 00000 Xxxxx XXXXX
Fax 000 0000000
Unit DNU/PNI
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Detailed information For correspondence of a strictly
ORDER NO. DESCRIPTION ISSUE AMOUNT CURRENCY administrative nature, such as invoices,
R TI1000 PEM 45 KW FUEL CELL STACKS 320,000,000 LIRE price revisions, account statements:
Ansaldo PC Divison
Xxx X'Xxxxxxxx, 000
00000 Xxxxx, Xxxxx
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For test & inspection telexes and telegrams
THE FOLLOWING ARE AN INTEGRAL PART OF THE ORDER:
- TEXT OF THE ORDER Ansaldo Nuclear Division
- XXXX DIARY Corso Xxxxxxx, 25
- ATTACHMENTS REFERENCED IN THE TEXT
Unit OUA
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SPECIAL CONDITIONS: PAYMENT: 90 DAYS FROM INVOICE DATE For all other correspondence:
DESTINATION: Xxxxx Xxxxxxx, 00 TRANSPORT:
DELIVERY: Free Genoa Ansaldo Ricerche Srl
CRATING: INCL. (OPTIONAL) Xxxxx Xxxxxxx, 00
00000 Xxxxx XXXXX
Information for Requesting party: Issued by:
ANSALDO only DNT B. AMCHERO G. PAOLO
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Total amount MERCENARO BARTOLOMEO
320,000,000 LIRE Order manager
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ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 2
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PREAMBLE
The European Economic Community (hereinafter COMMUNITY in the contract
documents), represented by the Commission of the European Communities
(hereinafter COMMISSION in the contract documents) and
- ANSALDO RICERCHE S.r.l. (COORDINATOR)
- ANSALDO INDUSTRIA S.p.A.
- XXXXXX GRIESHEIM GmbH
- REGISTRO NAVALE ITALIANO (RINA)
(hereinafter CONTRACTING PARTIES),
signed CONTRACT no. 5074-92-11 EL ISP PC (hereinafter the CONTRACT) concerning
"EOHHPP Phase III O-3: Demonstration Prototype of a Fuel Cell Boat used for
Inland Navigation (hereinafter the PROJECT), in which CONTRACTING PARTIES
undertake to perform the work for the PROJECT.
COORDINATOR has selected the Subcontractor who will supply DE XXXX S.p.A.
(hereinafter DNR) fuel cells; said company, with whom [COORINDATOR] engages in
joint business governed by two agreements dated 05/13/92, has developed a new
technology for solid fuel electrolytic cells.
ART. 1 -- SUBJECT OF THE ORDER
1.1 ANSALDO RICERCHE S.r.l. (ARI) grants DE XXXX S.p.A. (DNR) the order to
supply:
1.1.1 Fuel cell stacks defined in the annexed document "PURCHASE
SPECIFICATION FOR FUEL CELL GENERATION SYSTEM FOR VESSEL EQHHPP"
1.1.2 Installation, start-up, testing & inspection, and operation of the
stacks for a maximum period of 15 working days. Intervention time to
be agreed with reasonable notice.
1.1.3 Replacement parts for regular maintenance during the test period.
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 3
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1.2 GA stacks remain the property of DNR, which will make repairs and/or
replace all parts at its own expense due to construction defects during
the demonstration period (though up to and not later than 06/30/99) and
where said malfunctions are not due to operation of same in a way other
than that set down by DNR in the respective testing & inspection,
maintenance and care manuals.
DNR undertakes to provide technical assistance to ARI for the entire
demonstration period (up to and not later than 06/30/99) at terms and
conditions to be agreed upon between ARI and DNR on a case by case basis.
1.3 ARI undertakes not to analyze the components of the stacks and not to
permit third parties to inspect and/or analyze the components of the
stacks.
1.4 Once the tests are concluded, ARI and DNR shall agree on returning the
stacks to DNR. The stacks will be returned in their current condition and
ARI shall not be responsible for wear and/or deterioration due to the use
of the stacks, unless said wear and deterioration is due to operating the
stacks out of conformity with DNR's instructions in its testing &
inspection, maintenance and care manuals, without prejudice to the terms
of 1.3.
1.5 Any publication of the results, beyond that which is provided in the
CONTRACT, shall be agreed between ARI and DNR.
ART. 2 - CONTRACT DOCUMENTS
2.1 The contract documents are as follows:
2.1.1 PURCHASE SPECIFICATION -- FOR FUEL CELL GENERATION SYSTEM FOR VESSEL
EQHHPP"
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 4
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1.2 doc. PSA/CGF/02 REV. 1 - GENERAL CONDITIONS FOR SUPPLYING SYSTEMS,
EQUIPMENT, MACHINERY AND ASSOCIATED BUSINESS
.2 For any disagreements between the documents listed above, the
interpretation of same must be agreed by ARI and DNR in reasonable terms.
.3 The content of this order shall take precedence over the aforementioned
documents.
.4 Departures from the contract documents must be approved by ANSALDO in
writing under penalty of nullification.
ART. 3 - TERMS OF CONTRACT
.1 The date on which work begins is set down in the order acceptance date.
.2 Supply shall be delivered to the delivery point within 24 working weeks
of the signing date of the order.
ART. 4 - CRATING
The price includes crating.
ART. 5 - DELIVERY
The supply shall be delivered CIF ANSALDO - Genoa (ref. INCOTERMS 1990).
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 5
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ART. 6 - TRANSFER OF OWNERSHIP
N/A
ART. 7 - PENALTIES
1 Delivery dates are final and no delay is permitted without prior written
authorization by ANSALDO.
2 In the event of delays in the contract supply delivery date, after a
grace period of 5 calendar days a penalty of 0.5% of the total order
amount shall be applied for every week or portion thereof of delay.
.2.1 The maximum amount of delay penalties shall be 10% of the final order
amount.
ART. 8 - GUARANTIES
N/A
ART. 9 - INSTALLATION AND TEST ASSISTANCE
The above are included in the services as per Art. 1.
ART. 10 - PRICE
Total flat rate price as indicated in Art. 1. 320,000,000 lire
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 6
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ART. 11 - INVOICING AND PAYMENT METHOD
1.1 The amount as per Art. 4 may be invoiced as incurred, though not prior to
the dates on which the work associated therewith is completed, defined in
Table 1A in the annex.
1.2 Every invoice must contain the following information:
- running/consecutive number
- Community Order number 5074-92-11 ELISP PC
- order number
- name, address, and account number of DNP's reference bank
ART. 12 - PAYMENT
Payments shall be made by direct remittance to the Bank selected by
ANSALDO, within 90 days, end of month, of the receipt of invoice,
provided the conditions to which the installments are subject have
actually been met.
ART. 13 - ACCEPTANCE
As indication of unconditional acceptance, supplier will send to ANSALDO
a letter which complies with the fax specified in the contract documents,
by and no later than 20 days from receipt of this order. Should the
referenced acceptance not be received within the above term, ANSALDO
shall as a precautionary measure stop processing any invoices received,
reserving the right to take action against Supplier for compensation for
any damages incurred.
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 7
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ART. 14 - DECLARATION BY THE CONTRACTING PARTIES
ANSALDO and Supplier declare that the terms ratified in this order
correspond to the agreements concluded in their negotiations. Therefore,
all previous correspondence must be considered superceded.
[stamp]
ANSALDO
Ansaldo Ricerche S.r.l.
/s/
Xxxxxxxx Xxxxxxx
Managing Director
ANSALDO RICERCHE
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order no. N 02486 00 of FEB. 13, 1997 page no. 8
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TABLE 1A
XXXX AND PAYMENT CONDITIONS DIARY
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SUBORDER: N 02486/00 R ORDER / CDR: TI1000 SUPPLIER CODE: 064411 RDA
DESCRIPTION: 45 KW FUEL CELL STACKS REF.:
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QUALITY LEVEL: 1 CURRENCY CODE: ITALIAN LIRE
INITIAL DATE 12/05/96 TYPE OF GOODS: OAB AMOUNT OF SUBORDER
PAYMENT COND.: 90 DAYS AFTER INVOICE REF. [ILLEG.] -- AMOUNT ISSUE OF SERVICE: 320,000,000
ORDERS -- TOTAL AMOUNT: 320,000,000
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DESTINATION: Xxxxx Xxxxxxx, 00 DELIVERY: Free Genoa
TRANSPORT: CRATING: INCLUDED (OPTIONAL)
DOCS. ATTACHED:
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EVENT EVENT SCHEDULE DESCRIPTION OF EVENTS TO BE INVOICED PERCENT AMOUNT COMMENTS
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BEGINNING END
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1 A 02/01/97 ACCEPTANCE OF ORDER 0.2500 80,000,000
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2 C 07/31/97 DELIVERY OF STACKS (24 WORKING WEEKS FROM ACCEPTANCE 0.2500 80,000,000
OF ORDER)
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3 C 01/31/98 SIX MONTHS AFTER DELIVERY OF SUPPLY 0.2500 80,000,000
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4 C 06/30/99 AT END OF DEMONSTRATION CAMPAIGN, BY ISSUE OF THE 0.2500 80,000,000
ACTIVITY COMPLETION REPORT, AND, IN ANY CASE, NO LATER
THAN 06/10/99
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