Document:

ex102.htm

CONSULTING SERVICES AGREEMENT

 

THIS AGREEMENT made as of the1st day of January, 2015.

 

BETWEEN:

 

HCi VioCare, a company incorporated under the laws of the State of Nevada, USA, having its registered office at 123 W. Nye Lane, Suite 129, Carson City, NV 89706, U.S.A. (the "Company") of the first part

 

AND

 

MIKULAS DYLOWICZ, an individual with a mailing address of Na Vysine 1878, Ceska Trebova 56002, Czech Republic (the "Consultant")

 

WHEREAS

 

 

	
  

	
A.

	
The Company is a US reporting company carrying on the business of health care services on Prosthetics, Orthotics, Rehabilitation, Diabetes and the research and development of IP opportunities on the above mentioned field.

 

      B.           The Company wishes to retain the Consultant to provide services to the Company as more particularly described in Contract Services, as defined herein;

	
  

	
C.

	
The Consultant has agreed to provide the services and has agreed to act as a consultant to the Company, and its affiliates, in accordance with the provisions of this Agreement.

 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the mutual covenants and agreements hereafter set forth, the parties hereto do hereby covenant and agree as follows:

 

1.      Appointment and Duties

 

1.1    Appointment and Duties. The Company hereby retains the Consultant to render to the Company the services described in the Consulting Services Description attached hereto as Exhibit A (the "Contract Services"). The Consultant shall provide the services personally and shall sub-contract with such other persons as determined by the Consultant to provide the Contract Services.

  

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1.2    Variation. The particulars of the Contract Services may be changed from time to time by mutual written agreement without thereby terminating this Agreement, and, notwithstanding any such change, the Contract Services shall be construed as continued under this Agreement as modified  unless,  and  until,  this  Agreement  is formally terminated in writing or expires.

 

1.3    Independent Contractor. The Consultant shall be an independent contractor and not the servant, employee or agent of the Company. The Consultant shall perform the services and discharge his related duties under the general direction of the proper officers of the Company and shall be subject to the control of the Board of Directors or the senior executives of the Company (“CEO”) in respect of the manner in which he performs the Contract Services or otherwise carries out the instructions and directions it may be given from time to time in relation to the Contract Services. Except as specifically provided in this Agreement, Consultant will not be eligible for, and hereby knowingly and voluntarily waives, any and all employee benefits that Company provides to its common law employees, nor will Company make deductions from payments made to Consultant for taxes, including without limitation, local state or federal sales, use, excise, personal property or other similar taxes or duties, all of which will be Consultant’s responsibility. Consultant shall be solely responsible for and shall make proper and timely payment of any withholding or other taxes, such as the Consultant’s estimated state and federal income taxes and self-employment tax. Consultant agrees to indemnify and hold Company harmless from any liability for, or assessment of, any such taxes imposed on Company by relevant taxing authorities. Consultant will have no authority to enter into contracts that bind Company or create obligations on the part of Company without the prior written authorization of Company.

 

2. TERM

 

Term. The Consultant shall provide the Contract Services in accordance with the provisions of this Agreement during the term commencing on January 1, 2015 (the "Commencement Date") and, except in the case of earlier termination as hereinafter specifically provided for, shall continue for indefinite period. The Term maybe altered to definite period by mutual agreement upon the within terms, or such other terms, as the Company and the Consultant may agree in writing.

 

3. TIME AND PLACE OF SERVICE

 

3.1   Time of Performance. Unless otherwise provided in Contract Services, the Consultant shall perform the Contract Services at such times and during such hours as the proper officers of the Company may request and that are commensurate with prevailing industry standards and practice for the performance of such services in accordance with sound and efficient business practice.

 

3.2    Place of Service. The Consultant acknowledges that in providing services, the Consultant may be required from time to time to travel and provide services elsewhere than at the Consultant’s principal offices, and/or other branch offices as may be established, and the Consultant agrees to such amount of travel away from the principal office of the Consultant as may be reasonably necessary for the purposes of the Company's business and the Company agrees to reimburse all reasonable travel and related expenses incurred by the Consultant in that regard provided that such travel and expenses are pre-approved by the Company.

 

3.3    Reports and Ownership. The Consultant shall from time to time  upon the request of the CEO, or other proper executive officers of the Company, fully inform such officers of the work done and to be done by the Consultant in connection with the provision of the Contract Services in such detail as may be reasonably requested and permit the Company, and its officers, and other representatives, at all reasonable times to inspect, examine, review and copy all findings, data, specifications, drawings, reports, analyses, documents, financial, operating, technical and other information whether complete or incomplete (collectively the "Material") that have been produced, received or acquired by the Consultant, or provided by the Company, or third parties to the Consultant, as a result of this Agreement. All such Material, and any equipment, machinery or other property provided by the Company to the Consultant as a result of this Agreement, shall be the exclusive property of the Company and shall be immediately delivered by the Consultant to the Company, or its representatives, upon giving notice to the Consultant requesting delivery of the Material, equipment, machinery, or other property, whether that notice is given before, upon, or after the expiration or sooner termination of this Agreement.

 

  

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3.4    Conflict of Interest. The Consultant shall refer to the CEO, or the executive officers of the Company, for consideration of all matters and transactions in which the Consultant is, or may intend to be, involved and in respect of which a real, or perceived, conflict of interest between the Consultant and the Company, or another client of the Consultant, and the Company may arise, however remote the possibility, and shall not continue or proceed with such matters, or transactions, until the written approval of the CEO, or the proper executive officers, is obtained. Nothing in this subsection 3.4 is intended to limit in any way the Consultant's fiduciary obligations and duties to the Company which may arise by law or in equity.

 

4.           REMUNERATION AND BENEFITS

 

4.1           Fees.

 

The remuneration to be paid to the Consultant for all services to be rendered by him under  this  Agreement  to  the  Company  shall  be  euro TWO THOUSAND (2,000.00€)  per  month,  payable  in advance on the 1st calendar day of each month by check or wire transfer to such address or bank as provided by the Consultant.

4.2    Expenses. The Company will reimburse the Consultant for all reasonable and documented travel related expenses and business expenses incurred in relation to the Company's business in the performance of the Contract Services. All expenses shall be prior approved by the Company.

 

5.  TERMINATION

 

5.1     Termination by Consultant. The Consultant may terminate this Agreement by giving written notice of termination to the Company if the Company is in material default of any of its obligations under Section 4 hereof and fails to cure such default within thirty (30) days of delivery of a notice of default in writing to the Company from the Consultant. Termination date is considered the last day of the thirty (30) days given written notice (the "Termination Date").

 

5.2     Termination by the Company. The Company may immediately terminate this Agreement and the engagement of a Consultant hereunder if the Consultant is in material default of any of its obligations under this Agreement. Also, the Company may terminate this Agreement at any time without cause, or reason, upon giving sixty (60) days prior notice in writing to the Consultant. Termination date is considered the last day of the sixty (60) days given written notice (the "Termination Date").

 

5.3    Effective of Termination. Subject to section 5.2, upon termination of this Agreement, the Consultant shall be entitled to the Fee, and any other benefits, and any reasonable accrued expenses incurred on behalf of the Company, due to him up to and including the date of termination. No obligation(s) of the Company to the Consultant are further to the ones above mentioned in this sub-clause 5.3 arising from the termination of this Contract as per the provisions of this Clause 5. The termination of the Consultant's engagement under this Agreement shall not end the obligations of the Consultant under Section 6, which obligation shall continue and survive such termination.

 

5.4    Resignation and Surrender of Documents. Upon any termination of this Agreement, including expiration of the Term without renewal in case this Agreement will be altered accordingly, the Consultant shall, unless otherwise requested by the Company, return to the Company, promptly upon the Company’s written request therefore, any equipment, documents, photographs, all books of account, records, reports and any other property containing Confidential Information which were received by Consultant pursuant hereto without retaining copies thereof.

 

  

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6.       CONFIDENTIAL INFORMATION AND RESTRICTIVE COVENANT

 

6.1   Confidential Information. The Consultant understands that Confidential Information received by Consultant in the course of the engagement with the Company is considered by the Company to be confidential in nature and must be treated as such. In consideration for being engaged as a consultant by the Company as aforesaid, Consultant agrees to the covenants herein, and will not, without the express written consent of the Company, use Confidential Information for any purpose other than to provide the consulting services for the benefit of the Company, or for which Consultant is engaged.

 

The Consultant acknowledges the following:

 

	
  

	
(a)      In connection with providing the Contract Services, the Consultant will have access to financial, operating, technical, and other information concerning the Company (which for the purposes of this Section includes subsidiaries and affiliates of the Company) and its business opportunity and assets and which is either; non-public, confidential, or proprietary in nature.   All such information furnished to you by the CEO, or executives of the Company, or any of its officers, consultants, advisors or other representatives, and all analyses, compilations, data, studies, or other  documents made available to you, or its representatives, or prepared by you in connection with providing the Contract Services, are hereinafter collectively referred to as the "Confidential Information".

 

	
  

	
(b)   The Confidential Information includes not only written information but information transferred, or retained, orally, visually, electronically or by any other means.

 

	
  

	
(c)     The Company is a reporting issuer and the Consultant acknowledges that there will be restrictions on the purchase, or sale, of Company securities imposed by applicable United States securities laws and other domestic and foreign laws relating to the possession of material information about a public company which has not previously been made available to the public at large.  The Consultant agrees that neither it, no r its employees, will not sell, pledge, hypothecate or otherwise transfer or dispose of, or offer for sale, or solicit offers to purchase, any securities of the Company while Consultant is in possession of any material non-public information.

 

6.2     Non-Disclosure. In relation to Confidential Information, the Consultant agrees as follows:

 

	
  

	
(a) The Consultant will keep in confidence all Confidential Information.

 

	
  

	
(b)    The Consultant will not, either during the term of the contract with the Company, or at any time thereafter, disclose, or reveal, in any manner whatsoever the Confidential Information to any other person, except as required to carry out the terms of its engagement, or as required by law, nor shall he make any use thereof, directly or indirectly, for any purpose other than the purposes of the Company and the Consultant shall not disclose, or use for any purposes, other than those of the Company, the Confidential Information.  The term "person" as used in this Section 6 shall be interpreted very broadly and shall include without limitation any corporation, company, joint venture, partnership or individual.

 

	
  

	
(c)      In the event that the Consultant's service with the Company is terminated, for any reason whatsoever, Consultant shall return to the Company, promptly upon the Company's written request therefor, any documents, photographs, magnetic tapes, computer disks and other property containing Confidential Information which were received by Consultant pursuant hereto, or prepared by Consultant in the course of providing the Contract Services, without retaining copies hereof.

 

6.3     Public  Domain. The provisions of this Section 6 relating to Confidential Information will not apply to any part of such Confidential Information which the Consultant can clearly demonstrate, to the satisfaction of the Company, is now, or subsequently becomes, part of the public domain through no violation of the provisions hereof or was in the Consultant's lawful possession prior to its disclosure to Consultant by the Company.

 

6.4   Consultant agrees that it will not, without prior written consent of Company, use in advertising, publicity or otherwise, the name of Company or refer to the existence of this Agreement in press releases, advertising, or materials distributed to prospective customers.

 

7.  RELEASE AND INDEMNITY

 

7.1     Release. The Consultant releases and forever discharges the Company from all actions, causes of action, claims and demands, for or by reason of any damage, loss or injury to the person and property of the Consultant or any consequential damage flowing from such damage, loss or injury which may be sustained in respect of any incident during the term of this contract or the performance of services by the Consultant to the Company.

 

  

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7.2     Indemnity. The Consultant shall indemnify and hold harmless the Company, its agents and employees from and against all claims, demands, losses, costs, damages, actions, suits or proceedings by third parties that arise out of, or are attributable to, the Consultant's performance of services under this contract including without limitation Company shall be entitled to specific performance and enforcement of the terms hereof those relating to bodily injury, sickness, disease or death of the Consultant or loss or damage or destruction of property of the Consultant.

The Company agrees to save and hold harmless Consultant from, and against, any and all claims, causes of action, lawsuits, losses, and liability brought or assessed by third parties against the Company, its principals and shareholders, and Consultant arising out of any damage or injury occasioned by or in connection with the Consultant’s performance of the Contract Services, and from and against all liability for costs, fees, and legal expenses in connection herewith, except in the event Consultant should be found guilty of willful misconduct or gross negligence.  Consultant’s liability, if any, shall in no event exceed the amount of professional fees paid to Consultant by the Company for services rendered.

 

Additionally, the Company shall assume all obligations and liability associated with regulatory compliance in all applicable jurisdictions as relate to securities laws and other regulations that shall govern the operation, financing, and corporate governance of the Company. The Consultant shall not be asked to perform any tasks, or duties, that would contravene such regulations.

 

8.  NOTICE

 

Any notice or other writing required, or permitted, to be given hereunder shall be deemed to be sufficiently given if delivered, or if mailed by registered mail, or by e-mail, addressed as follows:

 

In the case of the Company:

 

   Contact – Nikolaos Kardaras

   (+44) 0808 178 4373

   Centrum Offices,

   38 Queen Street, Glasgow,

   UK G1 3DX

 

In the case of the Consultant:

 

Mikulas Dylowicz

Na Vysine 1878,

560 02 Ceska Trebova,

Czech Republic

 

Any such notice given as aforesaid shall be deemed to have been given to the parties hereto if delivered, when delivered, or if mailed, on the date of receipt of such mailing or, if via facsimile, on the date of actual receipt of such e-mail. Any party may from time to time, by notice in writing, change its address for the purpose of this Section.

 

  

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9.       ENTIRE AGREEMENT

 

This Agreement constitutes the entire agreement between the parties with respect to the services of the Consultant to be provided to the Company, and supersedes all prior agreements, representations, understanding and commitments, whether oral or written. This Agreement may not be amended except by way of an instrument in writing executed by both parties.

 

10.     NON-WAIVER

 

Any condoning, excusing or overlooking by the Company of any default, bre ach, or non-observance by the Consultant at any time, or times, in respect of any agreement, proviso, or condition contained in this Agreement shall not operate as a waiver of the Company's rights under this Agreement in respect of any subsequent default, breach or non-observance nor as to defeat or affect in any way the rights of the Company under this Agreement in respect of any subsequent default, breach, or non-observance.

 

11.     HEADINGS

 

The headings to the sections in this Agreement have been inserted as a matter of convenience and are for reference only and in no way define, limit or enlarge the scope or meaning of this Agreement or any provision of it.

 

12.     ILLEGALITY

 

Should any provision, or provisions, of this Agreement be illegal or not enforceabl e, it, or they, shall be considered separate and severable from this Agreement and its remaining provisions shall remain in force and be binding upon the parties as though the provision or provisions had never been included.

 

13.     GOVERNING LAWS

 

This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, U.S.A., without regard to any choice of law or conflict of law provisions thereof.

 

14.     ARBITRATION.

 

Any dispute or claim arising out of, or in connection with, any provision of this Agreement, excluding the Company’s right to seek injunctive relief under Section 6 hereof, will be finally settled by binding arbitration in the county in which the principal executive offices of the Company are located in accordance wi th the rules of the American Arbitration Association.  The parties shall mutually agree on one arbitrator. The arbitrator shall apply Nevada law, without reference to rules of conflicts of law or rules of statutory arbitration, to the resolution of any di spute.  Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary, or interim, equitable relief, or to compel arbitration in accordance with this paragraph, without breach of this arbitration provision.

 

15. SUCCESSORS AND ASSIGNS

 

15.1   This Agreement shall not be assignable by either party; provided, however, that if the Company shall merge into, or consolidate with, or transfer substantially all of its assets to, another corporate, or business entity, this Agreement shall run to the benefit of and may be assigned to the Company's successors resulting from such merger, consolidation or transfer.

 

  

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15.2   Except as otherwise provided in this Agreement, all terms of this Agreement shall be binding upon the respective successors and permitted assigns of the parties hereto and shall enure to the benefit of, and be enforceable by, the parties hereto and their respective successors and permitted assigns.

 

16. ADVICE OF COUNSEL.

 

Each Party acknowledges that, in executing this agreement, such Party has had the opportunity to seek the advice of independent legal counsel, and has read and understood all of the terms and provisions of this agreement.  This Agreement shall not be construed against any Party by reason of the drafting or preparation hereof.

 

17. COUNTERPARTS

 

This Agreement may be signed in one or more counterparts, each of which may be executed and delivered via facsimile with the same validity as if it were a manually executed document.

 

The PARTIES, intending to be contractually bound have executed this Agreement hereof as of the date first written above.

	
The “COMPANY”

 

 

 

 

	  	
The “CONSULTANT”

	  
	
By its:

	  	  	  
	
Name: Nikolaos Kardaras

	  	
Mikulas Dylowicz

	  
	
Title:   Secretary

 

	  	  	  

  

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Exhibit “A”

 

Contract Services Description

 

	
-  

	
Telephone and email investors inquiry responses;

	
-  

	
Dissemination of the Company’s Public information upon request to investors and third parties;

	
-  

	
Maintenance of investors database and circulation of all press releases or other announcements to the membership list; and such other services as may from time to time be required. 

  

8Exhibit 10.1

 

AMENDED
AND RESTATED PROMISSORY NOTE

 

	U.S. $3,000,000                                    	December 30, 2014

 

 

FOR VALUE RECEIVED, EuroSite Power Inc.,
a corporation organized under the laws of Delaware (“Borrower”), 45 First Avenue, Waltham, Massachusetts 02451, agrees
to pay to John Hatsopoulos (“Lender”), 3 Woodcock Lane, Lincoln, Massachusetts 01773, or order, the principal
sum of Three Million U.S. Dollars($3,000,000), after a substantial capital raise, on or before September 19, 2019, or immediately
upon a Change of Control, as such term is defined herein, of Borrower. Prepayment of principal may be made at any time without
penalty. Interest hereon shall accrue from October 3, 2014 at the rate of one point eight five percent (1.85%) per annum.

 

In the event that any amount of principal
hereof, or (to the extent permitted by applicable law) any interest hereon or any other amount payable hereunder is not paid in
full when due (whether as scheduled, on demand, by acceleration or otherwise), Borrower shall pay interest (after as well as before
entry of judgment thereon to the extent permitted by law) on such unpaid amount to Lender, from the date such amount becomes due
until the date such amount is paid in full, payable on demand of Lender at a rate per annum equal at all times to twelve percent
(12%) per annum (the “Default Rate”). Additionally, and without limiting the foregoing, following the occurrence and
during the continuance of any Event of Default (as defined below), at the option of Lender, the interest rate shall be the Default
Rate. Such interest on overdue amounts shall be payable on demand. All computations of interest shall be made on the basis of a
year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the period for
which such interest is payable. Each determination by Lender of any applicable rate of interest, and of any change therein, in
the absence of manifest error shall be conclusive and binding on the parties hereto.

 

Principal payment shall be made in lawful
tender of the United States unconditionally in full without set-off, counterclaim or, to the extent permitted by applicable law,
other defense, all of which rights of Borrower are hereby expressly waived by Borrower. All payments hereunder shall be made to
Lender at his address set forth above (or to such other place as Lender shall designate in a written notice to Borrower), and,
unless Borrower has obtained Lender’s written consent to another form of payment, such payment shall be made by wire transfer
of immediately available funds by no later than 12:00 noon (Boston time) on the due date of the payment, in accordance with Lender’s’
payment instructions.

 

Whenever any payment hereunder shall be
stated to be due, or whenever any interest payment date or any other date specified hereunder would otherwise occur, on a day other
than a Business Day (as defined below), then such payment shall be made, and such interest payment date or other date shall occur,
on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of
interest hereunder. As used herein, “Business Day” means a day (i) other than Saturday or Sunday, and (ii) on which
commercial banks are open for business in Boston, Massachusetts.

 

    	 

    	 

    

 

Upon a Change in Control of the Borrower
the this Note, including any unpaid interest thereon, shall become immediately due and payable. For purposes of this Note, “Change
in Control” means:

 

		(i)	Change in Ownership of Borrower.  The acquisition by any one person, or more than one person acting as a group, not including
the current stockholders of the Borrower of ownership (taking into account the stock ownership attribution rules of § 318(a)
of the Internal Revenue Code of 1986, as amended) of more than fifty percent (50%) of either (a) the then outstanding shares of
common stock of the Borrower or (b) the total combined voting power of the then outstanding voting securities of the Borrower entitled
to vote generally in the election of directors, whether such acquisition occurs by purchase of outstanding stock, issuance of stock
by the Borrower, merger or otherwise; or

		(ii)	Change in Ownership of Substantially All Assets of the Borrower.  All or substantially all of the assets of the Borrower
are sold or otherwise disposed of.  A transfer of the Borrowers’s assets to an “affiliate” of the Borrower
(as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended) shall not constitute a Change in Control
under this Note.

 

Borrower represents and warrants to Lender
that:

 

(i) Organization and Powers. Borrower
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, and has all requisite
power and authority to own its assets and carry on its business and to execute, deliver and perform its obligations under this
Note.

 

(ii) Authorization; No Conflict.
The execution, delivery and performance by Borrower of this Note have been duly authorized by all necessary corporate action of
Borrower and do not and will not (A) contravene the terms of the constitutional documents of Borrower; or (B) result in a breach
of or constitute a default under any material lease, instrument, contract or other agreement to which Borrower is a party or by
which it or its properties may be bound or affected; or (C) violate any provision of any law, rule, regulation, order, judgment,
decree or the like binding on or affecting Borrower.

 

(iii) Binding Obligations. This Note
constitutes the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms.

 

(iv) Consents. No authorization,
consent, approval, license, exemption of, or filing or registration with, any governmental authority or agency, or approval or
consent of any other person or entity is required for the due execution, delivery or performance by Borrower of this Note.

 

    	 

    	 

    

 

Any of the following events which shall
occur shall constitute an “Event of Default”:

 

(a) Payments. Borrower shall fail
to pay when due any amount of principal hereof, or interest hereon or other amount payable hereunder, and such failure shall continue
unremedied for five (5) days.

 

(b) Representations and Warranties.
Any representation or warranty by Borrower under or in connection with this Note shall prove to have been incorrect in any material
respect when made or deemed made.

 

(c) Insolvency. (i) Borrower shall
(A) admit in writing its inability to, or shall fail generally or be generally unable to, pay its debts (including its payrolls)
as such debts become due, (B) make a general assignment for the benefit of creditors, (C) be dissolved, liquidated, wound up or
cease its corporate existence, or (D) commence any voluntary proceeding or case seeking to adjudicate it a bankrupt or insolvent,
or seeking reorganization, arrangement, adjustment, intervention, suspension of payments, or composition of it or its debt under
any law relating to bankruptcy, insolvency, suspension of payments or reorganization or relief of debtors, or seeking appointment
of a receiver, trustee, intervenor or liquidator, or other similar official for it or for any substantial part of its property,
(ii) an involuntary proceeding or case shall be commenced against Borrower seeking any of the foregoing relief and remain undismissed
for a period of 30 days; (iii) an order for relief or other order or adjudication shall be entered against Borrower under any such
bankruptcy, insolvency or similar law; (iv) any receiver, trustee, or other official or person shall be appointed to take possession
of any property of Borrower; or (v) Borrower shall take any corporate action to authorize, or shall consent to, any of the actions
or events set forth above in this paragraph.

 

If any Event of Default shall occur and
be continuing, Lender may, by notice to Borrower, declare the entire unpaid principal amount of this Note, all interest accrued
and unpaid hereon and all other amounts due hereunder to be forthwith due and payable, whereupon the principal hereof, all such
accrued interest and all such other amounts shall become and be forthwith due and payable, without presentment, demand, protest
or further notice of any kind, all of which are hereby expressly waived by Borrower, provided that if an event described in paragraph
(c) above shall occur, the result which would otherwise occur only upon giving of notice by Lender to Borrower as specified above
shall occur automatically, without the giving of any such notice.

 

Borrower agrees to pay on demand the costs
and expenses of Lender, and fees and disbursements of Lender’s counsel, in connection with any Event of Default, the enforcement
or attempted enforcement of, and preservation of any rights or interests under, this Note, and any out-of-court workout or other
refinancing or restructuring or any bankruptcy or insolvency case or proceeding.

 

No single or partial exercise of any power
under this Note shall preclude any other or further exercise of such power or exercise of any other power. No delay or omission
on the part of Lender in exercising any right under this Note shall operate as a waiver of such right or any other right thereunder.

 

    	 

    	 

    

 

All notices and other communications provided
for hereunder shall, unless otherwise stated herein, be in writing and mailed, sent or delivered to the respective parties hereto
at or to their respective addresses set forth herein, or at or to such other address as shall be designated by any party in a written
notice to the other party hereto. All such notices and communications shall be effective (i) if delivered by hand, when delivered;
(ii) if sent by overnight courier service, when delivered; and (iii) if sent by mail, upon the earlier of the date of receipt or
five Business Days after deposit in the mail, first class (or air mail, with respect to communications to be sent to or from the
United States), postage prepaid.

 

This Note shall be binding on Borrower and
its successors and assigns, and shall be binding upon and inure to the benefit of Lender, any future holder of this Note and their
respective successors and assigns. Borrower may not assign or transfer this Note or any of its obligations hereunder without Lender’s
prior written consent.

 

This Note shall be governed by and construed
in accordance with the laws of the Commonwealth of Massachusetts.

 

Borrower hereby (a) submits to the non-exclusive
jurisdiction of the courts of the Commonwealth of Massachusetts and the Federal courts of the United States sitting in the District
of Massachusetts (collectively, the “Massachusetts Courts”), for the purpose of any action or proceeding arising out
of or relating to this Note, (b) irrevocably waives (to the extent permitted by applicable law) any objection which it now or hereafter
may have to the laying of venue of any such action or proceeding brought in any of the Massachusetts Courts, and any objection
on the ground that any such action or proceeding in any Massachusetts Court has been brought in an inconvenient forum, and (c)
agrees that (to the extent permitted by applicable law) a final judgment in any such action or proceeding brought in a Massachusetts
Court shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner permitted by
law.

 

IN WITNESS WHEREOF, Borrower signing below
by its duly authorized legal representative(s) has executed this Note as of the date first above mentioned.

 

 

	EUROSITE POWER INC.                	 	By: JOHN HATSOPOULOS	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Gabriel Parmese          	 	/s/ John Hatsopoulos 	 
	By: Gabriel Parmese, Chief Financial Officer

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