Document:

ex4-1.htm

    Exhibit
      4.1

     

     

     

    
      	
              LINCOLN
                NATIONAL CORPORATION

            
	
              6.30%
                Senior Note due 2037

            
	 	 	 
	 	 	 
	
              [Registered]

            	 	
              CUSIP
                534187AW9

            
	 	 	
              ISIN
                US534187AW96

            
	
              No.

            	 	
              U.S.
                $

            

    

     

    
      	 	THIS
              SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
              HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY
              OR A
              NOMINEE THEREOF.  THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR
              IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY
              IN
              WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
              THAN
              SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES
              DESCRIBED IN THE INDENTURE.	 
	 	 	 
	 	UNLESS
              THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
              TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED
              BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT,
              AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
              NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
              PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
              BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
              USE
              HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
              AS
              THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
              HEREIN.	 

    

     

     

    Lincoln
      National Corporation, a corporation organized and existing under the laws of
      the
      State of Indiana (hereinafter called the “Company”, which term includes any
      successor corporation under the Indenture hereinafter referred to), for value
      received, hereby promises to pay
      to          , or registered
      assigns, the principal sum
      of                                                ($           )
      on October 9, 2037 and to pay interest thereon from October 9, 2007 or from
      the
      most recent interest payment date to which interest has been paid or duly
      provided 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    for,
      semi-annually in arrears on April 9 and October 9, in each year, commencing
      on
      April 9, 2008 (each, an “Interest Payment Date”), at the rate of 6.30% per
      annum.  The period beginning on October 9, 2007 and ending on but
      excluding the first Interest Payment Date and each successive period beginning
      on and including an Interest Payment Date and ending on but excluding the next
      succeeding Interest Payment Date is herein called an “Interest
      Period”.  If any Interest Payment Date falls on a day which is not a
      Business Day, such Interest Payment Date shall be postponed to the next
      succeeding Business Day. If April 9 or October 9 of any year is not a Business
      Day (with the consequence that the related interest payment shall be made on
      the
      next succeeding Business Day, which shall be the relevant Interest Payment
      Date
      as set forth above), such payment shall be made on such Interest Payment Date
      in
      the amount that would otherwise have been due on April 9 or October 9 and no
      interest on such payment shall accrue for the period from and after April 9
      or
      October 9 to such postponed Interest Payment Date, and the next succeeding
      Interest Period shall begin on the April 9 or October 9 on which such payment
      originally would have been made. If October 9, 2037 shall not be a Business
      Day,
      payment of the principal and interest due on that date need not be made on
      that
      day but may be made on the next day that is a Business Day with the same force
      and effect as if made on October 9, 2037, provided that no interest shall accrue
      for the period from and after October 9, 2037. The interest so payable and
      punctually paid or duly provided for on any Interest Payment Date will, as
      provided in the Indenture, be paid to the person in whose name this Note is
      registered at the close of business on March 25 or September 25 (whether or
      not
      a Business Day) immediately preceding the Interest Payment Date, as applicable
      (each respectively a “Record Date”), subject to certain exceptions as provided
      in the Indenture.  Payment of the principal of, and interest on, this
      Note will be made at the designated office or agency of the Company maintained
      for such purpose in The City of New York, New York in such coin or currency
      of
      the United States of America as at the time of payment is legal tender for
      payment of public and private debt or, at the option of the Company, interest
      so
      payable may be paid by check to the order of said Holder mailed to his address
      appearing on the Security Register.  Any interest not so punctually
      paid or duly provided for shall be payable as provided in the
      Note.  Interest on this Note will be computed on the basis of a
      360-day year of twelve 30-day months.

     

    Reference
      is hereby made to the further provisions of this Note set forth on the reverse
      hereof, which further provisions shall for all purposes have the same effect
      as
      if set forth at this place.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee by
      manual signature, this Note shall not be entitled to any benefit under the
      Indenture or be valid or obligatory for any purpose.

     

    

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    

    

    IN
      WITNESS WHEREOF, Lincoln National Corporation has caused this instrument to
      be
      duly executed under its corporate seal.

     

    

    
      	 	
              LINCOLN
                NATIONAL CORPORATION

               

               

            
	 	
              By:   ______________________________

            
	 	 	
              Name:  

            
	 	 	
              Title:    

            

    

    

    
      	 	 
	 	
              By:   ______________________________

            
	 	 	
              Name:  

            
	 	 	
              Title:    

            
	 	 	 

    

    

    
      	
              Attest:  _________________________

            	 
	
              Name:  

              Title:    

            	 
	 	 	 
	
              Dated:  

            	 	 

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    Dated:  

     

    Trustee’s
      Certificate of Authentication

     

    This
      is
      one of the Securities of the series designated herein and referred to in the
      within-mentioned Indenture.

     

    
      	
               

            	
              THE
                BANK OF NEW YORK, as Trustee

            

    

    

    

    
      	
               

            	
              By:
                ______________________________

            

    

    
      	
               

            	
              Authorized
                Signatory

            

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    [Reverse
      of Note]

     

    LINCOLN
      NATIONAL CORPORATION

     

    6.30%
      Senior Note due 2037

     

    This
      Note
      is one of a duly authorized issue of Securities of the Company of a series
      hereinafter specified, all issued and to be issued under an Indenture dated
      as
      of September 15, 1994, as supplemented by the First Supplemental Indenture
      dated
      as of November 1, 2006 (herein collectively called the “Indenture”), between the
      Company and The Bank of New York, as Trustee (hereinafter the “Trustee”, which
      term includes any successor Trustee under the Indenture), to which Indenture
      and
      all indentures supplemental thereto reference is hereby made for a statement
      of
      the respective rights, limitations of rights, duties and immunities thereunder
      of the Company, the Trustee and the Holder of the Securities and the terms
      upon
      which the Securities are, and are to be, authenticated and
      delivered.  The Securities may be issued in one or more series, the
      terms of which different series may vary as provided in the
      Indenture.  This Note is one of a series of the Securities of the
      Company designated as its 6.30% Senior Note due 2037 (herein called the
“Notes”), limited in aggregate principal amount to
      $            ,
      except as otherwise provided in the Indenture.  The Notes of this
      series are issuable in registered form only in denominations of $2,000 and
      integral multiples of $1,000.

     

    All
      terms
      used in this Note that are defined in the Indenture shall have the meanings
      assigned to them in the Indenture.

     

    The
      Notes
      are redeemable, in whole or in part, at the option of the Company, at any time
      or from time to time, upon mailed notice to the registered address of each
      holder of the Notes at least 30 days but not more than 60 days prior to the
      redemption. The redemption price will be the greater of (i) 100% of the
      principal amount of the Notes to be redeemed and (ii) the make-whole amount,
      plus in each case accrued and unpaid interest to the date of redemption.
“Make-whole amount” means the sum of the present values of the remaining
      scheduled payments on the Notes, discounted to the date of redemption on a
      semi-annual basis (assuming a 360-day year consisting of twelve 30-day months),
      at a rate equal to the sum of the applicable treasury rate plus 25 basis
      points.

     

    “Comparable
      treasury issue” means the U.S. Treasury security selected by a reference
      treasury dealer as having an actual or interpolated maturity comparable to
      the
      remaining term of the Notes called for redemption, that would be utilized,
      at
      the time of selection and in accordance with customary financial practice,
      in
      pricing new issues of corporate debt securities with a term comparable to such
      period.

     

    “Comparable
      treasury price” means, with respect to a redemption date (1) the average of five
      reference treasury dealer quotations for such redemption date, after excluding
      the highest and lowest reference treasury dealer quotations, or (2) if the
      quotation agent obtains fewer than five such reference treasury dealer
      quotations, the average of all such quotations.

     

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

     

    “Quotation
      agent” means the entity appointed by the Company to determine the make-whole
      amount.

     

    “Reference
      treasury dealer” means (1) Goldman, Sachs & Co. and (2) any additional
      primary U.S. government securities dealers in New York City (each, a “primary
      treasury dealer”) selected by the Company and their successors, provided,
      however, that if any of them ceases to be a primary treasury dealer the Company
      will substitute another primary treasury dealer.

     

    “Reference
      treasury dealer quotations” means, with respect to each reference treasury
      dealer and any redemption date, the average, as determined by the quotation
      agent, of the bid and asked prices for the comparable treasury issue (expressed
      in each case as a percentage of its principal amount) quoted in writing to
      the
      quotation agent at 5:00 p.m., New York City time, on the third business day
      preceding such redemption date.

     

    “Remaining
      scheduled payments” means the remaining scheduled payments of principal and
      interest on the Notes called for redemption that would be due after the related
      redemption date but for that redemption. If that redemption date is not an
      interest payment date with respect to the Notes called for redemption, the
      amount of the next succeeding scheduled interest payment on such Notes will
      be
      reduced by the amount of interest accrued to such redemption date.

     

    “Treasury
      rate” means, with respect to any redemption date, the rate per annum equal to
      the semi-annual equivalent yield to maturity (computed as of the third business
      day immediately preceding that redemption date) of the comparable treasury
      issue, assuming a price for the comparable treasury issue (expressed as a
      percentage of its principal amount) equal to the comparable treasury price
      for
      that redemption date.

     

    The
      Company will prepare and mail a notice of redemption to each Holder of Notes
      to
      be redeemed by first-class mail at least 30 and not more than 60 days prior
      to
      the date fixed for redemption. On and after a redemption date, interest will
      cease to accrue on the Notes called for redemption (unless the Company defaults
      in the payment of the redemption price and accrued interest). On or before
      a
      redemption date, the Company will deposit with a paying agent (or the Trustee)
      money sufficient to pay the redemption price of and accrued interest on the
      Notes to be redeemed on that date. If less than all of the Notes are to be
      redeemed, the Notes to be redeemed shall be selected by the Trustee pro rata
      or
      by lot or by a method the Trustee deems to be fair and appropriate.

     

    The
      Notes
      are not entitled to any sinking fund.  If an Event of Default shall
      occur with respect to the Notes, the principal of the Notes may be declared
      due
      and payable in the manner and with the effect provided in the
      Indenture.

     

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

     

    The
      Indenture contains provisions for defeasance at any time of the Notes, upon
      which the Company, at its option, shall be deemed to have been Discharged from
      its obligations with respect to the Notes or shall cease to be under any
      obligation to comply with certain restrictive covenants of the
      Indenture.

     

    Subject
      to certain exceptions, the Indenture or the Notes may be amended or supplemented
      with the consent of the Holders of at least a majority in principal amount
      of
      the Outstanding Securities affected by such amendment or supplement voting
      as
      one class.  Without the consent of any Holder, the Company and the
      Trustee may amend or supplement the Indenture or the Notes to, among other
      things, cure any ambiguity, defect or inconsistency.  Subject to
      certain exceptions, any past default or Event of Default may be waived by the
      Holders of at least a majority in principal amount of the Outstanding Securities
      of any series affected on behalf of the Holders of the Securities of that series
      or the Holders of at least a majority in principal amount of all the Outstanding
      Securities voting as one class.  After the amendment or supplement is
      effective, any such consent or waiver by the Holder of this Note shall be
      conclusive and binding upon such Holder and upon all future Holders of this
      Note
      and of any Note issued upon the transfer hereof or in exchange hereunder or
      in
      lieu hereof whether or not notation of such consent or waiver is made upon
      this
      Note or upon any Note issued upon the transfer hereof or in exchange herefor
      or
      in lieu hereof.

     

    No
      reference herein to the Indenture and no provision of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of, and interest on, this Note at the
      times, place, and rate, and in the coin or currency, herein
      prescribed.

     

    As
      provided in the Indenture and subject to certain limitations therein set forth,
      this Note is transferable on the Security Register of the Company, upon
      surrender of this Note for transfer at the office or agency of the Company
      in
      The City of New York, New York, duly endorsed by, or accompanied by a written
      instrument of transfer in form satisfactory to the Company and the Registrar,
      duly executed by the Holder hereof or his attorney duly authorized in writing,
      and thereupon one or more new Notes, of authorized denominations and for the
      same aggregate principal amount, will be issued to the designated transferee
      or
      transferees.

     

    As
      provided in the Indenture and subject to certain limitations therein set forth,
      this Note is exchangeable for a like aggregate principal amount of Notes of
      different authorized denominations as requested by the Holder surrendering
      the
      same.

     

    No
      service charge will be made for any such transfer or exchange, but the Company
      may require payment of a sum sufficient to cover any tax or other governmental
      charge payable in connection therewith.

     

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

     

    The
      Company, the Trustee and any agent of the Company or the Trustee may treat
      the
      person in whose name this Note is registered as the owner hereof for the purpose
      of receiving payment as herein provided and for all other purposes whether
      or
      not this Note be overdue, and neither the Company, the Trustee nor any agent
      shall be affected by notice to the contrary.

     

    No
      recourse shall be had for the payment of the principal of, or the interest
      on,
      this Note or for any claim based hereon or otherwise in any manner in respect
      hereof, or in respect of the Indenture, against any incorporator, shareholder,
      officer or director, as such, past, present or future, of the Company or of
      any
      predecessor or, except as provided in the Indenture, successor corporation,
      whether by virtue of any constitutional provision or statute or rule of law,
      or
      by the enforcement of any assessment or penalty or in any other manner, all
      such
      liability being expressly waived and released by the acceptance hereof and
      as
      part of the consideration for the issue hereof.

     

     

     

     

     

     -8-Unassociated Document

    

     

    

     

    

    

    EARLY
      WORKS AGREEMENT

    

    

    

    

    This
      agreement, entered into as of the 21st day of
      September
      2007, in Cardiff, United Kingdom / Frankfurt am Main, Germany by
      and

     

    

     

     

    between

     

     

    Flex
      Fuels Energy Limited

    30
      St
      Mary Axe

    London
      EC3A 8EP

    United
      Kingdom

    -
      hereinafter called „FLEX“ -

     

     

    and

     

     

    Lurgi
      Aktiengesellschaft

    Lurgiallee
      5

    D-60295
      Frankfurt am Main

    Germany

    -
      hereinafter called „LURGI“ -

     

     

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

     

    PREAMBLE

     

    Whereas,
      FLEX intends to install an integrated biodiesel production facility with an
      annual capacity of 200,000 tons biodiesel to be located within Cardiff, United
      Kingdom (hereinafter called “Plant”), and

     

    Whereas,
      LURGI has developed and owns a proprietary process for the production of
      biodiesel (hereinafter called “Process”), and

     

    Whereas,
      LURGI has special experience and competence in the design, installation,
      start-up and operation of integrated biodiesel plants applying LURGI’s process,
      and

     

    Whereas,
      FLEX is desirous to adapt LURGI’s process for the installation of its integrated
      biodiesel plant and has therefore requested LURGI to provide the related early
      works services (hereinafter also called „Work“) in such respect,
      and

     

    Whereas,
      LURGI is willing to render such Work.

     

    Now,
      therefore, FLEX and LURGI enter into the following agreement:

     

     

    
      	
              1

            	
              Basis
                and Scope of Work

            

    

     

    
      	
              1.1  

            	
              LURGI
                shall execute the Work as defined in Annex I. LURGI shall base the
                Work
                upon the outline functional specification as per Annex
                II.

            

    

     

    
      	
              1.2  

            	
              LURGI
                shall render additional services at FLEX’s plant site upon request of FLEX
                related to process consultation, supervision of engineering and plant
                construction, start-up assistance, proof of performance guarantees,
                etc.
                subject to terms and conditions as stipulated in Article
                2.2..

            

    

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              2

            	
              Contract
                Price, Daily Rates and Price
                Basis

            

    

     

    
      	
              2.1  

            	
              Agreement
                Price

            

    

     

    
      	
              2.1.1  

            	
              The
                price for the early works services as defined under Article 1.1 above
                amounts to:

            

    

     

     

    EUR
      360,000.00

     

     (in
      words: three hundred and sixty thousand Euro only)

     

    
      	
              2.2  

            	
              Daily
                Rates for Additional Services

            

    

     

    Section
      removed for reasons of commercial confidentially.

     

    
      	
              2.3  

            	
              Price
                Basis

            

    

     

    Section
      removed for reasons of commercial confidentially.

     

    
      	
              2.4

            	
              Taxes,
                Levies

            

    

     

    Section
      removed for reasons of commercial confidentially.

     

    
      	
              2.5

            	
              For
                the avoidance of doubt the liability of FLEX howsoever and wheresoever
                arising under or out of this agreement shall in no circumstances
                exceed
                the said sum of EUR 360,000.00 unless both FLEX and LURGI have agreed
                to
                any new price in writing.

            

    

     

    
      	
              3

            	
              Terms
                of Payment

            

    

     

    Section
      removed for reasons of commercial confidentially.

     

    
      	
              4

            	
              Execution
                Period

            

    

     

    Section
      removed for reasons of commercial confidentially.

     

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              5

            	
              Change
                of Work

            

    

     

    
      	
              5.1  

            	
              Should
                FLEX require engineering work over and above the Work as defined
                in Annex
                I, FLEX shall have the right at any time to order changes in the
                Work.
                Upon FLEX’s respective written request LURGI shall furnish FLEX with a
                written statement specifying:

            

    

     

    
      	
              -  

            	
              LURGI’s
                estimate of the increase in the total cost
                involved;

            

    

     

    
      	
              -  

            	
              any
                effect such changes in LURGI’s work may have on any other provision of
                this agreement;

            

    

     

    
      	
              -  

            	
              such
                other detail as FLEX may require.

            

    

     

     

    
      	
              5.2  

            	
              If
                FLEX agrees to the statement referred to in the change of work
                notification from LURGI, FLEX shall notify LURGI thereof in writing
                within
                7 (seven) working days from receipt of LURGI’s notification whereupon the
                change of work shall be deemed to be incorporated into LURGI’s scope of
                work.

            

    

     

    
      	
              5.3  

            	
              LURGI
                shall not start work that may effect a change in the work and involve
                an
                increase in cost before FLEX has agreed to the aforesaid
                statement.

            

    

     

    
      	
              5.4  

            	
              Payments
                for authorised changes in work shall be made by FLEX within 10 (ten)
                days
                after receipt of corresponding invoice to LURGI’s bank account as stated
                in the invoice.

            

    

     

    
      	
              6

            	
              Warranty
                – Limitation of Liability

            

    

     

    
      	
              6.1  

            	
              Warranty
                for Engineering

            

    

     

    LURGI
      shall perform the early works services in accordance with internationally
      recognised practices and standards.

     

    If,
      nevertheless, LURGI’s work proves to be wholly or partially incorrect, defect or
      incomplete for reasons attributable to LURGI, LURGI’s liability shall be
      limited, to the exclusion of any further rights and remedies of FLEX, to the
      cost-free correction of any defective work. Any action or proceeding based
      on
      LURGI’s failure to perform its obligations hereunder must be brought or
      instituted immediately by FLEX after discovery, at the latest 12 (twelve) months
      from submission of the Work or 18 (eighteen) months after the effective date
      of
      this agreement, in case of delays not attributable to LURGI.

     

    LURGI
      shall perform the early works services with the reasonable skill and care to
      be
      expected of an experienced design and build contractor of works of a similar
      size and nature to the Plant and in accordance with internationally recognized
      practices and standards.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
              6.2  

            	
              Limitation
                of Liability

            

    

     

     

    
      	
              6.2.1  

            	
              LURGI’s
                overall total liability under or in connection with this agreement
                shall
                be limited to a maximum amount of 5 (five) percent of the agreement
                price
                as per Article 2.1.

            

    

     

     

    
      	
              6.2.2  

            	
              LURGI
                shall not be liable under any theory of law whatsoever, whether based
                on
                breach of agreement, strict liability, tort or otherwise, for any
                special,
                incidental, for indirect and/or consequential damage or losses such
                as,
                but not limited to, loss of business opportunities, loss of profit,
                increased cost of construction investment, interest, financing or
                other
                increased or additional cost, no matter what statutory basis such
                claims
                for reimbursement may have.

            

    

     

    
      	
              7

            	
              Force
                Majeure

            

    

     

    Neither
      party hereto shall be held responsible for any delay or failure to perform
      any
      or all of the obligations imposed upon such party caused by occurrences beyond
      the control of the party concerned, including but not limited to acts of God,
      Government regulations, strikes, lockouts or other acts of workmen, fires,
      floods, explosions, riots, war, rebellion and sabotage. The time for
      implementing this agreement shall be extended by a period equivalent to the
      time
      Force Majeure lasts.

     

    The
      party
      affected by the circumstances of Force Majeure shall notify the other party
      of
      the beginning and of the end of Force Majeure immediately by telefax e-mail
      or
      and confirm the e-mail or telefax message by a letter within 15 (fifteen) days.
      In case of non-observance of such notification by the party so affected, the
      party so affected shall not be entitled to make reference to Force
      Majeure.

     

    Should
      such circumstances of Force Majeure last over a period of more than 6 (six)
      months, the parties shall meet and discuss the best way to proceed with the
      execution of this agreement. If an agreement cannot be reached the case then
      shall be submitted to arbitration for final settlement in accordance with the
      stipulations of Article 8.

     

    Payments
      due for services which have already been executed shall not be affected by
      Force
      Majeure.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              8

            	
              Applicable
                Law and Arbitration

            

    

     

    
      	
              8.1  

            	
              The
                legal relations between the parties shall in all respects be governed
                by
                the English law of England and Wales without regard to the principles
                of
                conflicts of laws.

            

    

     

    
      	
              8.2  

            	
              The
                parties will try to settle any disputes amicably. In case they fail
                to
                succeed, the controversies will be finally settled by three arbitrators
                in
                accordance with the Rules of the International Chamber of Commerce,
                Paris/France.

            

    

     

    The
      venue
      of the arbitration shall be Zurich, Switzerland.

     

    Judgement
      upon the award may be entered in any court having jurisdiction, or application
      may be made to such court for a judicial acceptance of the award, as the case
      may be.

     

    The
      arbitration shall be held in the English language.

     

    
      	
              9

            	
              Secrecy

            

    

     

    
      	
              9.1  

            	
              FLEX
                undertakes to keep secret all know-how, experience and information
                concerning LURGI’s process of which it became or becomes aware in
                connection with the installation of the plant or which it develops
                jointly
                with LURGI for a period of 15 (fifteen) years after this agreement
                has
                come into force, and to use them only for the purposes of this agreement
                and not to disclose them to third
                parties.

            

    

     

     

    
      	
              9.2  

            	
              LURGI
                undertakes the same obligation with respect to the secret know-how,
                experience and information of which it became or becomes aware through
                FLEX in connection with the installation of the
                plant.

            

    

     

     

    
      	
              9.3  

            	
              LURGI
                and FLEX agree that they will impose the same secrecy obligation
                on their
                employees to the extent that is legally possible - even for the time
                after
                they have left the company.

            

    

     

     

    
      	
              9.4  

            	
              The
                obligations as per Articles 9.1 and 9.2 shall not apply to such know-how,
                experience and information

            

    

     

    
      	
              -  

            	
              which
                had been known to LURGI or FLEX or were evident before they began
                their
                co-operation; or

            

    

     

    
      	
              -  

            	
              which
                LURGI or FLEX legally received from third parties without any secrecy
                obligation, provided that the third party did not receive this know-how,
                experience and information either directly or indirectly from FLEX
                or
                LURGI; or

            

    

     

    
      	
              -  

            	
              which
                become evident without any action by LURGI or FLEX after they have
                begun
                their co-operation, the necessary evidence shall in this case be
                provided
                by the party having recourse of this clause;
                or

            

    

     

    
      	
              -  

            	
              which
                become generally available in the public domain through technical
                literature, magazines, trade publications,
                etc.

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

     

    
      	
              9.5  

            	
              LURGI
                and FLEX shall be entitled to pass on any know-how, experience and
                information that they have received from the other party under this
                agreement to third parties to the extent that this is necessary for
                LURGI
                or FLEX to install and operate the biodiesel plant and to provide
                their
                supplies and services for the plant. This shall apply also to repairs,
                improvements and modifications that become necessary after the guarantee
                period has expired. LURGI or FLEX shall bind such third parties to
                the
                same extent of secrecy and restricted use of the know-how, experience
                and
                information that they are themselves required to
                observe.

            

    

     

    
      	
              9.6

            	
              Further,
                and without prejudice to the foregoing LURGI agrees that FLEX may
                pass on
                any work (including information which LURGI regard as confidential)
                produced pursuant to the terms of this agreement for the purpose
                of
                getting all necessary planning and environmental permits for the
                Plant and
                for raising finance to construct and operate the
                Plant.

            

    

     

    
      	
              10

            	
              General
                Provisions

            

    

     

    
      	
              10.1  

            	
              This
                agreement constitutes the entire agreement and understanding between
                the
                authorised representatives of the parties and supersede any and all
                written or oral prior agreements and undertakings. No modification,
                amendment or waiver of any of its provisions shall be valid unless
                in
                writing and signed by the parties.

            

    

     

    However
      in signing this agreement the Parties acknowledge that it is the wish of both
      FLEX and LURGI to reach a future agreement for LURGI to provide a full contract
      for the design, procurement, construction and commissioning of the Plant ("the
      Future Contract"). If such a Future Contract does prove to be possible then
      the
      rights and obligations of both Parties under this agreement shall be subsumed
      into the terms of the said Future Contract.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      	
              10.2  

            	
              All
                documents, notices and other communications should be forwarded to
                the
                following addresses:

            

    

     

    
      	
               

            	
              for
                FLEX:

            	
              Flex
                Fuels Energy Limited

               

              Regus
                House

               

              Falcon
                Drive

               

              Cardiff
                CF10 4RU

               

              United
                Kingdom

            

    

     

     

    
      	
               

            	
              for
                LURGI:

            	
              Lurgi
                Aktiengesellschaft

               

              Lurgiallee
                5

               

              D-60295
                Frankfurt am Main

               

              Germany

            

    

     

     

    
      	
              10.3  

            	
              This
                agreement shall become effective
                upon

            

    

     

    
      	
              -  

            	
              execution
                thereof by both parties, and

            

    

     

    
      	
              -  

            	
              receipt
                of the down payment to be made by FLEX to LURGI as per Article 3.1.1
                above, and

            

    

     

     

    
      	
              10.4  

            	
              If
                any term or provision of this agreement proves to be illegal, invalid
                or
                unenforceable the other terms or provisions shall not be affected
                thereby.
                FLEX and LURGI hereto shall endeavour to replace retroactively such
                illegal, invalid or unenforceable terms or provisions by legal, valid
                or
                enforceable terms or provisions which best correspond to their original
                intentions.

            

    

     

    
      	
              10.5  

            	
              FLEX
                shall not assign its contractual rights to any third party, except
                with
                prior written agreement from LURGI.

            

    

     

    
      	
              10.6  

            	
              Except
                for the rights explicitly granted under this agreement, FLEX shall
                have no
                further rights or remedies under this
                agreement.

            

    

     

    
      	
              10.7  

            	
              The
                following Annexes form an integral part to this
                agreement:

            

    

     

    
      	
               

            	
              Annex
                I

            	
              Scope
                of Work

            

    

     

    
      	
               

            	
              Annex
                II

            	
              Outline
                Functional Specification

            

    

     

    
      	
               

            	
              Annex
                III

            	
              LAPPC
                & IPPC

            

    

     

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

     

    
      	
              10.8  

            	
              The
                agreement shall be read as a whole. In case of discrepancy or
                inconsistency between the body of the agreement and the Annex, the
                body of
                the agreement shall prevail.

            

    

     

    
      	
              10.9  

            	
              All
                correspondence and documents shall be made in the English
                language.

            

    

     

    
      	
              10.10  

            	
              This
                agreement is signed in two (2) identical
                copies.

            

    

    
 

     

    In
      witness thereof, FLEX and LURGI hereto have caused this document to be executed
      and signed as follows on the day and date first above written.

     

     

    
      	For
              and on behalf of   	For
              and on behalf of
	 	 
	Flex
              Fuels Energy Limited 	Lurgi
              Aktiengesellschaft
	 	 
	By: 	By:
	 	 
	____________________________	____________________________
	 Iestyn
              Morgan 	Jan-Marc
              Raitz
	 Director 	Area
              Sales Director
	 	 
	____________________________  	 
	Chris
              Gould	____________________________
	Project
              Manager  	Dirk
              Steinigen
	 	Director
              Operations & Engineering
	 	 

    

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

                                                                                         

     

    

     

     

    Annex
      I – Scope of Work

     

     

    Section
      removed for reasons of commercial confidentially.

     

     

    

     

     

    Annex
      II – Outline Functional Specification

     

     

    Section
      removed for reasons of commercial confidentially.

     

     

    

     

     

    Annex
      III – LAPPC & IPPC

     

     

    Section
      removed for reasons of commercial confidentially.

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