Document:

Form of Debenture Purchase Agreement dated as of June 9, 2005

 Exhibit 10.57 
  
 DEBENTURE PURCHASE AGREEMENT 
  
 THIS DEBENTURE PURCHASE AGREEMENT (this “Agreement”), dated as of June 9, 2005, by and among
LITHIUM TECHNOLOGY CORPORATION, a Delaware corporation (the “Company”), and the Buyers listed on Schedule I attached hereto (individually, a “Buyer” or collectively “Buyers”). 
  
 WITNESSETH: 
  
 WHEREAS, the Company and the Buyer(s) are executing and delivering
this Agreement in reliance upon an exemption from securities registration pursuant to Section 4(2) and/or Rule 506 of Regulation D (“Regulation D”) as promulgated by the U.S. Securities and Exchange Commission (the
“SEC”) under the Securities Act of 1933, as amended (the “Securities Act”); 
  
 WHEREAS, the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Buyer(s),
as provided herein, and the Buyer(s) shall purchase up to Two Million Five Hundred Thousand Dollars ($2,500,000) of debentures in the form attached hereto as Annex A (the “Debentures”), which shall be convertible into shares of the
Company’s common stock, par value $0.01 (the “Common Stock”) at $0.05 per share (the “Conversion Price”) (as converted, the “Conversion Shares”) of which $1,200,000 shall be funded on June 9,
2005 (the “First Closing”) and up to $1,300,000 shall be funded at one or more closings within 60 days of the date of this Agreement on such dates and in such amounts as agreed to by the parties (each, a “Subsequent
Closing” and together with the First Closing, the “Closings” or individually each a “Closing”), for a total purchase price of up to Two Million Five Hundred Thousand Dollars ($2,500,000), (the
“Purchase Price”) in the respective amounts set forth opposite each Buyer(s) name on Schedule I (the “Subscription Amount”); and 
  
 NOW, THEREFORE, in consideration of the mutual covenants and other agreements contained in this Agreement the Company
and the Buyer(s) hereby agree as follows: 
  
 1. PURCHASE AND
SALE OF DEBENTURES. 
  
 (a) Purchase of
Debentures. Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at Closing (as defined herein below) and the Company agrees to sell and issue to each
Buyer, severally and not jointly, at the Closing, Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto. Upon execution hereof by a Buyer, the Buyer shall wire transfer the
Subscription Amount set forth opposite his name on Schedule I in same-day funds payable to the Company. 
  
 (b) Closing Date. The First Closing of the purchase and sale of the Debentures shall take place at 10:00 a.m. Eastern Standard Time
on or before June 9, 2005 or such other mutually agreed upon time, subject to notification of satisfaction of the conditions to the First Closing set forth herein and in Sections 5 and 6 below (or such later date as is mutually agreed to by the
Company and the Buyer(s)) (the “First Closing Date”). Each Subsequent Closing shall take place at 10:00 a.m. Eastern Standard Time on or before August 9, 2005 or 

  

 
such other mutually agreed upon time, subject to notification of satisfaction of the conditions to the First Closing set forth herein and in Sections 5 and 6
below (or such later date as is mutually agreed to by the Company and the Buyer(s)) (the “First Closing Date”). Each Closing shall occur at the offices of Gallagher, Briody & Butler, 155 Village Boulevard, 2nd Floor, Princeton, New Jersey 08540, fax: 609-452-0090 (or such other place as is mutually agreed to by the Company and the
Buyer(s)). 
  
 (c) Fees and Expenses. The
Company shall pay the fees and expenses of the Buyers including the fees and expenses of any attorneys, accountants, appraisers, or others engaged by the Buyers in connection with this Agreement and the transactions contemplated hereby. In addition,
the Company shall pay to the Buyers a commitment fee in an amount equal to 3% of the amounts invested by the Buyers on the date of their purchase of the Debentures and a one time structuring fee of $150,000. payable as follows: Upon the execution of
this Agreement the Company shall issue to the Buyer a structuring debenture ( the “Structuring Debenture”) in the amount of $150,000 in the form attached hereto as Annex “B”. The commitment fee and the structuring fee shall be
deemed fully earned as of the date hereof. 
  
 2. BUYER’S
REPRESENTATIONS AND WARRANTIES. 
  
 Each Buyer represents and
warrants, severally and not jointly, that: 
  
 (a) Investment Purpose. Each Buyer is acquiring the Debentures and, upon conversion of Debentures, the Buyer will acquire the Conversion Shares then issuable, for its own account for investment only and not with a view towards, or
for resale in connection with, the public sale or distribution thereof, except pursuant to sales registered or exempted under the Securities Act; provided, however, that by making the representations herein, such Buyer reserves the right to dispose
of the Conversion Shares at any time in accordance with or pursuant to an effective registration statement covering such Conversion Shares or an available exemption under the Securities Act. 
  
 (b) Accredited Investor Status. Each Buyer is an
“Accredited Investor” as that term is defined in Rule 501(a)(3) of Regulation D. 
  
 (c) Reliance on Exemptions. Each Buyer understands that the Debentures are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such Buyer’s compliance with, the representations, warranties,
agreements, acknowledgments and understandings of such Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of such Buyer to acquire such securities. 
  
 (d) Information. Each Buyer and its advisors (and his
or, its counsel), if any, have been furnished with all materials relating to the business, finances and operations of the Company and information he deemed material to making an informed investment decision regarding his purchase of the Debentures
and the Conversion Shares, which have been requested by such Buyer. Each Buyer and its advisors, if any, have been afforded the opportunity to ask questions of the Company and its management. Neither such inquiries nor any other due 

  

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diligence investigations conducted by such Buyer or its advisors, if any, or its representatives shall modify, amend or affect such Buyer’s right to
rely on the Company’s representations and warranties contained in Section 3 below. Each Buyer understands that its investment in the Debentures and the Conversion Shares involves a high degree of risk and each Buyer has the financial
wherewithal to lose its entire investment and understands that it could lose its entire investment. Each Buyer is in a position regarding the Company, which, based upon employment, family relationship or economic bargaining power, enabled and
enables such Buyer to obtain information from the Company in order to evaluate the merits and risks of this investment. Each Buyer has sought such accounting, legal and tax advice, as it has considered necessary to make an informed investment
decision with respect to its acquisition of the Debentures and the Conversion Shares. 
  
 (e) No Governmental Review. Each Buyer understands that no United States federal or state agency or any other government or
governmental agency has passed on or made any recommendation or endorsement of the Debentures or the Conversion Shares, or the fairness or suitability of the investment in the Debentures or the Conversion Shares, nor have such authorities passed
upon or endorsed the merits of the offering of the Debentures or the Conversion Shares. Each Buyer understands and acknowledges that the Company has undertaken and will undertake no efforts to comply with any laws of any jurisdiction outside the
United States relating to the issuance and sale of its securities except as may be provided herein. 
  
 (f) Transfer or Resale. Each Buyer understands that: (i) the Debentures have not been and are not being registered under the
Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder, or (B) such Buyer shall have delivered to the Company an opinion of counsel, in a generally
acceptable form, to the effect that such securities to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration requirements; (ii) any sale of such securities made in reliance on Rule 144
under the Securities Act (or a successor rule thereto) (“Rule 144”) may be made only in accordance with the terms of Rule 144 and further, if Rule 144 is not applicable, any resale of such securities under circumstances in which the
seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the Securities Act) may require compliance with some other exemption under the Securities Act or the rules and regulations of the SEC
thereunder; and (iii) neither the Company nor any other person is under any obligation to register such securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. The
Company reserves the right to place stop transfer instructions against the shares and certificates for the Conversion Shares. 
  
 (g) Legends. Each Buyer understands that the certificates or other instruments representing the Debentures and or the Conversion
Shares shall bear a restrictive legend in substantially the following form (and a stop transfer order may be placed against transfer of such stock certificates): 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN 

  

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ACQUIRED SOLELY FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TOWARD RESALE AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
APPLICABLE STATE SECURITIES LAWS. 
  
 The legend set forth above shall be removed
and the Company within two (2) business days shall issue a certificate without such legend to the holder of the Conversion Shares upon which it is stamped, if, unless otherwise required by state securities laws, (i) in connection with a sale
transaction, provided the Conversion Shares are registered under the Securities Act or (ii) in connection with a sale transaction, after such holder provides the Company with an opinion of counsel, which opinion shall be in form, substance and scope
customary for opinions of counsel in comparable transactions, to the effect that a public sale, assignment or transfer of the Conversion Shares may be made without registration under the Securities Act. 
  
 (h) Authorization, Enforcement. This Agreement and
all related agreements are within Buyer’s corporate power and have been duly and validly authorized, executed and delivered on behalf of such Buyer and is a valid and binding agreement of such Buyer enforceable in accordance with its terms,
except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable
creditors’ rights and remedies. All necessary corporate action has been taken with respect to the Buyer to authorize and approve this Agreement and all the related agreements, and Buyer is under no obligation to obtain any approval, consent, or
other action from any third party in order for Buyer to consummate the transaction contemplated hereby. 
  
 (i) Receipt of Documents. Each Buyer and his or its counsel has received and read in their entirety: (i) this Agreement and each
representation, warranty and covenant set forth herein; (ii) all due diligence and other information necessary to verify the accuracy and completeness of such representations, warranties and covenants; (iii) the Company’s Form 10-KSB for the
year ended December 31, 2004; (iv) the Company’s Form 10-QSB for the quarter ended March 31, 2005; and (v) answers to all questions each Buyer submitted to the Company regarding an investment in the Company; and each Buyer has relied on the
information contained therein and has not been furnished any other documents, literature, memorandum or prospectus. Buyer acknowledges and agrees that the Company’s representations and warranties are limited to exclusively those expressly
stated in this Agreement and exclude any and all statements made in any other business plan, prospectus, projections, memorandum or other document or in any oral communication. 
  
 (j) Due Formation of Corporate and Other Buyers. If the Buyer(s) is a corporation, trust, partnership
or other entity that is not an individual person, it has been formed 

  

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and validly exists and has not been organized for the specific purpose of purchasing the Debentures and is not prohibited from doing so. 
  
 (k) No Legal Advice From the Company. Each Buyer
acknowledges, that it had the opportunity to review this Agreement and the transactions contemplated by this Agreement with his or its own legal counsel and investment and tax advisors. Each Buyer is relying solely on such counsel and advisors and
not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any
jurisdiction. Each Buyer acknowledges that Gallagher, Briody & Butler is counsel to the Company and has not rendered any advice to such Buyer with respect to this investment, the transactions contemplated by this Agreement or the securities laws
of any jurisdiction. 
  
 3. REPRESENTATIONS AND WARRANTIES OF
THE COMPANY. 
  
 The Company represents and warrants to each
of the Buyers that, except as set forth in the SEC Documents (as defined herein): 
  
 (a) Organization and Qualification. The Company and its subsidiaries are corporations duly organized and validly existing in good
standing under the laws of the jurisdiction in which they are incorporated, and have the requisite corporate power to own their properties and to carry on their business as now being conducted. 
  
 (b) Authorization, Enforcement, Compliance with Other
Instruments. (i) The Company has the requisite corporate power and authority to enter into and perform this Agreement and any related agreements, and to issue the Debentures and the Conversion Shares in accordance with the terms hereof and
thereof, (ii) the execution and delivery of this Agreement and any related agreements by the Company and the consummation by it of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Debentures, the
Conversion Shares and the reservation for issuance and the issuance of the Conversion Shares issuable upon conversion or exercise thereof, have been duly authorized by the Company’s Board of Directors and no further consent or authorization is
required by the Company, its Board of Directors or its stockholders, (iii) this Agreement and any related agreements have been duly executed and delivered by the Company, (iv) this Agreement and any related agreements constitute the valid and
binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies. The authorized officer of the Company executing this Agreement and any related agreements knows of no reason why the Company
cannot perform any of the Company’s obligations under such documents. 
  
 (c) Capitalization. The authorized capital stock of the Company consists of 125,000,000 shares of Common Stock, par value $0.01 per share and 100,000 shares of Preferred Stock. As of June 6, 2005, the Company
has 112,978,364 shares of Common Stock and no shares of Preferred Stock issued and outstanding. All of such outstanding shares have been validly issued and are fully paid and nonassessable. 
  

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 (d) Issuance of Securities. The Debentures are duly authorized and, upon issuance
in accordance with the terms hereof, shall be duly issued, fully paid and nonassessable, are free from all taxes, liens and charges with respect to the issue thereof. Upon conversion or exercise in accordance with the Debentures, the Conversion
Shares will be duly issued, fully paid and nonassessable. 
  
 (e) No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby will not (i) result in a violation of the
Certificate of Incorporation, any certificate of designations of any outstanding series of preferred stock of the Company or the By-laws or (ii) conflict with or constitute a default (or an event which with notice or lapse of time or both would
become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries is a party, or result in a violation of any law,
rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and the rules and regulations of The National Association of Securities Dealers Inc.’s OTC Bulletin Board on which the Common Stock is
quoted) applicable to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries is bound or affected. 
  

(f) SEC Documents. LTC’s Form 10-KSB for the year ended December 31, 2004, the Form 10-QSB for the quarter ended March 31,
2005 and all other reports required to be filed by LTC under the Exchange Act since January 1, 2005, were duly filed by LTC, in compliance with the requirements of their respective report forms and complete and correct in all material respects as of
the dates for which the information was furnished, and as of their respective filing dates, contained no untrue statements of material fact nor omitted to state any material fact required to be included therein or necessary in light of the
circumstances under which it was made in order to make the statements made therein not misleading. 
  
 (g) Acknowledgment Regarding Buyer’s Purchase of the Debentures. The Company acknowledges and agrees that the Buyer(s) is
acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that the Buyer(s) is not acting as a financial advisor or fiduciary of the
Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice given by the Buyer(s) or any of their respective representatives or agents in connection with this Agreement and the
transactions contemplated hereby is merely incidental to such Buyer’s purchase of the Debentures or the Conversion Shares. The Company further represents to the Buyer that the Company’s decision to enter into this Agreement has been based
solely on the independent evaluation by the Company and its representatives. 
  
 (h) No General Solicitation. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the
meaning of Regulation D under the Securities Act) in connection with the offer or sale of the Debentures or the Conversion Shares. 
  

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 4. COVENANTS. 
  
 (a) Best Efforts. Each party shall use its best efforts timely to satisfy each of the conditions to
be satisfied by it as provided in Sections 6 and 7 of this Agreement. 
  
 (b) Reporting Status. Until the earlier of (i) the date as of which the Buyer(s) may sell all of the Conversion Shares without restriction pursuant to Rule 144(k) promulgated under the Securities Act (or
successor thereto), or (ii) the date on which (A) the Buyer(s) shall have sold all the Conversion Shares and (B) none of the Debentures are outstanding (the “Registration Period”), the Company shall not terminate its status as an
issuer required to file reports under the Exchange Act even if the Exchange Act or the rules and regulations thereunder would otherwise permit such termination. 
  
 (c) Reservation of Shares. The Company shall take all action reasonably necessary to at all times
have authorized, and reserved for the purpose of issuance, such number of shares of Common Stock as shall be necessary to effect the issuance of the Conversion Shares as of the date the Debentures are convertible into conversion shares. If at any
time the Company does not have available such shares of Common Stock as shall from time to time be sufficient to effect the conversion of all of the Conversion Shares of the Company shall call and hold a special meeting of the shareholders within
ninety (90) days of such occurrence, for the purpose of increasing the number of shares authorized. The Company’s management shall recommend to the shareholders to vote in favor of increasing the number of shares of Common Stock authorized.
Management shall also vote all of its shares in favor of increasing the number of authorized shares of Common Stock. 
  
 (d) Listings or Quotation. The Company shall promptly secure the listing or quotation of the Conversion Shares upon the NASDAQ
National Market, the NASDAQ SmallCorp Market, the American Stock Exchange, the New York Stock Exchange, The National Association of Securities Dealers Inc.’s Over-The-Counter Bulletin Board or other market, if any, upon which shares of Common
Stock are then listed or quoted (subject to official notice of issuance) (each, a “Principal Market”) and shall use its best efforts to maintain, so long as any other shares of Common Stock shall be so listed, such listing of all
Conversion Shares from time to time issuable under the terms of this Agreement. The Company shall maintain the Common Stock’s authorization for quotation on a Principal Market. 
  
 (e) Fees and Expenses. Each of the Company and the Buyer(s) shall pay all costs and expenses incurred
by such party in connection with the negotiation, investigation, preparation, execution and delivery of this Agreement. 
  
 (f) Registration Rights. 
  
 (i) The Company shall use its best efforts to file a registration statement for registration under the Securities Act of the Conversion
Shares no later than July 15, 2005 and shall use its best efforts to have the registration statement declared effective within 90 days of filing. The registration requested pursuant to this section is referred to herein as the
“Registration”. 
  

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 (ii) Assignment of Registration Rights. The right to have the Company register
Conversion Shares pursuant to this Agreement shall be automatically assignable to any transferee of all or any portion of the Debentures or Conversion Shares if: (a) the Buyer agrees in writing with the transferee or assignee to assign such rights,
and a copy of such agreement is furnished to the Company within a reasonable time after such assignment, (b) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of (i) the name and address of
such transferee or assignee, and (ii) the securities with respect to which such registration rights are being transferred or assigned, (c) following such transfer or assignment, the further disposition of such securities by the transferee or
assignee is restricted under the 1933 Act and applicable state securities laws and, (d) at or before the time the Company receives the written notice contemplated by clause (b) of this sentence, the transferee or assignee agrees in writing with the
Company to be bound by all of the provisions contained herein (the foregoing a “Permitted Transferee”). 
  
 (g) Fees and Expenses. Each of the Company and the Buyer(s) shall pay all costs and expenses incurred by such party in connection
with the negotiation, investigation, preparation, execution and delivery of this Agreement. 
  
 5. CONDITIONS TO THE COMPANY’S OBLIGATION TO SELL. 
  
 The obligation of the Company hereunder to issue and sell the Debentures to the Buyer(s) at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following conditions, provided that
these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion: 
  
 (a) Each Buyer shall have executed this Agreement and delivered the same to the Company. 
  
 (b) The Buyer(s) shall have delivered the Purchase Price for
Debentures in respective amounts as set forth next to each Buyer as outlined on Schedule I attached hereto. 
  
 (c) The representations and warranties of the Buyer(s) shall be true and correct in all material respects as of the date when made and as
of the Closing Dates as though made at that time (except for representations and warranties that speak as of a specific date), and the Buyer(s) shall have performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by the Buyer(s) at or prior to the Closing Dates. 
  
 6. CONDITIONS TO THE BUYER’S OBLIGATION TO PURCHASE. 
  

The obligation of the Buyer(s) hereunder to purchase the Debentures at the Closing is subject to the satisfaction, at or before the Closing Date, of
each of the following conditions: 
  
 (a) The
Company shall have executed this Agreement and the Convertible Debenture and delivered the same to the Buyer(s). 
  

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 (b) The Common Stock shall be authorized for quotation on the OTCBB, trading in the
Common Stock shall not have been suspended for any reason and all of the Conversion Shares issuable upon conversion of the Debentures shall be approved the OTCBB. 
  
 (c) The representations and warranties of the Company shall be true and correct in all material respects
(except to the extent that any of such representations and warranties is already qualified as to materiality in Section 3 above, in which case, such representations and warranties shall be true and correct without further qualification) as of the
date when made and as of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date) and the Company shall have performed, satisfied and complied in all material respects with the
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. If requested by the Buyer, the Buyer shall have received a certificate, executed by the
President of the Company, dated as of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by the Buyer including, without limitation an update as of the Closing Date regarding the representation
contained in Section 3(c) above. 
  
 (d) The
Company shall have executed and delivered to the Buyer(s) the Debentures in the respective amounts set forth opposite each Buyer(s) name on Schedule I attached hereto. 
  
 7. INDEMNIFICATION. 
  
 (a) In consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Convertible Debentures and the
Conversion Shares hereunder, and in addition to all of the Company’s other obligations under this Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer(s) and each other holder of the Convertible Debentures and the
Conversion Shares, and all of their officers, directors, employees and agents (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Buyer Indemnitees”)
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for
which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by the Buyer Indemnitees or any of them as a result of, or arising out of, or
relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement or the Convertible Debentures or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of
any covenant, agreement or obligation of the Company contained in this Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and
arising out of or resulting from the execution, delivery, performance or enforcement of this Agreement or any other instrument, document or agreement executed pursuant hereto by any of the Indemnities, any transaction financed or to be financed in
whole or in part, directly or indirectly, with the proceeds of the issuance of the Convertible Debentures or the status of the Buyer or holder of the Convertible Debentures the Conversion Shares, as a Buyer of Convertible Debentures in the Company.
To the extent that the foregoing undertaking 

  

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by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the
Indemnified Liabilities, which is permissible under applicable law. This indemnification shall not apply to any Indemnified Liabilities arising out of the willful or reckless actions or inactions of any Buyer Indemnitee. 
  
 (b) In consideration of the Company’s execution and
delivery of this Agreement, and in addition to all of the Buyer’s other obligations under this Agreement, the Buyer shall defend, protect, indemnify and hold harmless the Company and all of its officers, directors, employees and agents
(including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Company Indemnitees”) from and against any and all Indemnified Liabilities incurred by the
Indemnitees or any of them as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Buyer(s) in this Agreement, instrument or document contemplated hereby or thereby executed
by the Buyer, (b) any breach of any covenant, agreement or obligation of the Buyer(s) contained in this Agreement or any other certificate, instrument or document contemplated hereby or thereby executed by the Buyer, or (c) any cause of action, suit
or claim brought or made against such Company Indemnitee based on material misrepresentations or due to a material breach and arising out of or resulting from the execution, delivery, performance or enforcement of this Agreement or any other
instrument, document or agreement executed pursuant hereto by any of the Company Indemnities. To the extent that the foregoing undertaking by each Buyer may be unenforceable for any reason, each Buyer shall make the maximum contribution to the
payment and satisfaction of each of the Indemnified Liabilities, which is permissible under applicable law. This indemnification shall not apply to any Indemnified Liabilities arising out of the willful or reckless actions or inactions of any Buyer
Indemnitee. 
  
 8. GOVERNING LAW: MISCELLANEOUS.

  
 (a) Governing Law. THIS AGREEMENT
SHALL BE ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO
HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN DELAWARE WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS AGREEMENT, THE AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY. THE PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. THE PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT
EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING. NOTHING HEREIN SHALL AFFECT ANY PARTY’S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. THE PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH
SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER. THE PARTY WHICH DOES NOT PREVAIL IN 

  

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ANY DISPUTE ARISING UNDER THIS AGREEMENT SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING ATTORNEYS’ FEES, INCURRED BY THE PREVAILING PARTY IN
CONNECTION WITH SUCH DISPUTE. 
  
 (b)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the
other party. In the event any signature page is delivered by facsimile transmission, the party using such means of delivery shall cause four (4) additional original executed signature pages to be physically delivered to the other party within five
(5) days of the execution and delivery hereof. 
  
 (c) Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement. 
  
 (d) Severability. If any provision of this Agreement shall be invalid or unenforceable in any
jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.

  
 (e) Entire Agreement, Amendments. This
Agreement supersedes all other prior oral or written agreements between the Buyer(s), the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the instruments referenced
herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor any Buyer makes any representation, warranty, covenant or
undertaking with respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument in writing signed by the party to be charged with enforcement. 
  

 11 

 (f) Notices. Any notices, consents, waivers, or other communications required or
permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (i) upon receipt, when delivered personally; (ii) upon confirmation of receipt, when sent by facsimile; (iii) three (3) days after
being sent by U.S. certified mail, return receipt requested, or (iv) one (1) day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be: 
  

					
	If to the Company, to:	  	Lithium Technology Corporation
	 	  	5115 Campus Drive
	 	  	Plymouth Meeting, PA 19462
	 	  	Attention:	  	John J. McGovern
	 	  	Telephone:	  	(610) 940-6090
	 	  	Facsimile:	  	(610) 940-6091
		
	With a copy to:	  	Gallagher, Briody & Butler
	 	  	Princeton Forrestal Village
	 	  	155 Village Blvd. – Suite 201
	 	  	Princeton, NJ 08540
	 	  	Attention:	  	Thomas P. Gallagher, Esq.
	 	  	Telephone:	  	(609) 452-6000
	 	  	Facsimile:	  	(609) 452-0090

  
 If to the Buyer(s), to
its address and facsimile number on Schedule I, with copies to the Buyer’s counsel as set forth on Schedule I. Each party shall provide five (5) days’ prior written notice to the other party of any change in address or facsimile number.

  
 (g) Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. Neither the Company nor any Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other party hereto. 
  
 (h) No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

  
 (i) Survival. The representations and
warranties of the Company and the Buyer(s) contained in Sections 2 and 3, the agreements and covenants set forth herein, shall survive the Closing for a period of two (2) years following the date on which the Debentures are converted in full. The
Buyer(s) shall be responsible only for its own representations, warranties, agreements and covenants hereunder. 
  
 (j) Publicity. The Company and the Buyer(s) shall have the right to approve, before issuance any press release or any other public
statement with respect to the transactions contemplated hereby made by any party; provided, however, that the Company shall be entitled, without the prior approval of the Buyer(s), to issue any press release or other public disclosure with respect
to such transactions required under applicable securities or other laws or regulations (the Company shall use its best efforts to consult the Buyer(s) in connection with any such press release or other public disclosure prior to its release and
Buyer(s) shall be provided with a copy thereof upon release thereof). 
  
 (k) Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments
and documents, as the other party may reasonably request 

  

 12 

 
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 
  
 (l) Termination. In the event that the Closing shall
not have occurred with respect to the Buyers on or before five (5) business days from the date hereof due to the Company’s or the Buyer’s failure to satisfy the conditions set forth in Sections 5 and 6 above (and the non-breaching
party’s failure to waive such unsatisfied condition(s)), the non-breaching party shall have the option to terminate this Agreement with respect to such breaching party at the close of business on such date without liability of any party to any
other party above. 
  
 (m) No Strict
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. 
  

 13 

 IN WITNESS WHEREOF, the Buyers and the Company have caused this Debenture Purchase
Agreement to be duly executed as of the date first written above. 
  

			
	COMPANY:
	LITHIUM TECHNOLOGY CORPORATION
		
	By:	 	 
	 Name:
	 	John J. McGovern
	 Title:
	 	Chief Financial Officer

  

 14 

 Exhibit 10.58 
  
 SCHEDULE I 
  
 SCHEDULE OF BUYERS 
  

								
	 Name

	  	Signature

	  	Address/Facsimile
Number of Buyer

	  	Amount of
Subscription

	 	  	 	  	 	  	Up to $	2,500,000Consultancy Agreement between GAIA and Dr. Klaus Brandt

 Exhibit 10.58 
  
 Contract for Services 
  
 between 
  
 GAIA Akkumulatorenwerke GmbH 
 Montaniastrasse 17, 99734 Nordhausen, 

represented by its collective shareholders, 
 who are represented by Dr. Hendrikus Harold van Andel 
  
 and 
  
 Dr. Klaus Brandt 
 Malerstrasse 14, 01326 Dresden 
  
 § 1 
 Appointment as managing
director, Term of the contract 
  

	1.	With their decision of April 7, 2005, the shareholders of GAIA Akkumulatorenwerke GmbH (hereinafter referred to as the “company”) appointed Dr. Brandt as an additional
managing director of GAIA Akkumulatorenwerke GmbH. The decision grants Dr. Brandt the right to sole and exclusive representation of the company. 

  

	2.	This service contract takes effect on April 1, 2005 and is valid until December 31, 2007. 

  

	3.	The company and Dr. Brand undertake to enter negotiations no later than six months prior to the termination of the service contract in order to achieve a mutually binding decision
regarding an extension of the contract. The discretion of the corporate bodies to decide on the extension of the appointment and employment contract remains unaffected. 

  
 § 2 
 Duties and obligations 
  

	1.	Dr. Brandt will manage the business of the company in accordance with the laws, the corporate by-laws, the decisions taken at the shareholders’ meetings, the rules of internal
procedure for the management board, the management board’s business distribution plan and this service contract. 

  

 Page 1 of 5 

	2.	Dr. Brandt undertakes to dedicate his entire work efforts as well as his entire expertise and experience to the service of the company. His working hours will depend on the needs of
the company. Assumption of a remunerated or unremunerated secondary employment, of honorary posts and of seats on executive boards, supervisory boards, advisory boards or similar assignments requires prior written approval of the shareholders’
meeting. 

  

	3.	Notwithstanding the overall responsibility of each managing director of the company for all of the concerns of the management board, according to the business distribution plan in
its current version, Dr. Brandt is responsible for the business area assigned to him, in particular for the areas of development, technology, production and sales support. 

  

	4.	Upon termination of his service contract, Dr. Brandt is obligated to resign any offices and secondary employment that he assumed exclusively in the interest of and/or at the request
of the company. 

  

	5.	Should Dr. Brandt receive any royalties or other remuneration from offices in subsidiaries and holding companies of the company and from those in other companies which he has
assumed in the interest and/or at the request of the company, he will pay these to the company. 

  
 § 3 
 Remuneration 
  

	1.	For his work, Dr. Brand will receive an annual salary in the amount of € 170,000.00 (in words: one hundred seventy thousand euros). The salary will be paid in 12 monthly
payments. The payments are due at the end of each month. 

  

	2.	In accordance with the specifications of the incentive program for management executives of Lithium Technology Corporation, the corporate group to which the company belongs, Dr.
Brandt will receive stock options. The number or value of the options to be issued to Dr. Brandt as well as the date of such issuance will be determined separately. 

  

	3.	The salary payment includes overtime as well as work on Sundays and holidays. Furthermore, Dr. Brandt has no claim to compensation for vacation not taken. 

 
 § 4 
 Fringe benefits 
  

	1.	The company will provide Dr. Brandt with a car of the upper mid-size category for professional and private use. Dr. Brandt must pay taxes on the value of the private usage as
non-monetary compensation in addition to those on his remuneration as stipulated in § 3. In the case of termination of this service contract or release from his duties, Dr. Brandt must return the company car without delay.

  

 Page 2 of 5 

	2.	Dr. Brandt will be reimbursed for travel expenses and other expenses incurred in the course of his work on behalf of the company upon submission of the receipts and any other
documentation required by the applicable company guidelines. 

  

	3.	The company will provide accident and disability insurance for Dr. Brandt through the agency of an insurance provider to be selected by the company for the duration of this contract
in the amount which is usual for the company – possibly as part of group accident insurance. Dr. Brandt has the right to name his beneficiaries himself. The insurance policy must be concluded within three months after the contract takes effect.

  

	4.	The company will include Dr. Brandt in the existing directors’ & officers’ insurance for consequential losses and liability insurance. The company is responsible for
the payment of any taxes to which premium payments are subject. 

  

	5.	For the duration of his work in Nordhausen, insofar and so long as he is commuting from his current residence, hotel accommodations will be provided to Dr. Brandt.

  
 § 5 
 Vacation 
  

	1.	Dr. Brandt is entitled to annual vacation of 30 working days, which may also be taken in several shorter periods. 

  

	2.	The vacation periods must be compatible with the operational requirements of the company and coordinated with the other members of the management board. 

  
 § 6 
 Remuneration in the case of illness, accident, and death 
  

	1.	In the case of temporary incapacity to work due to illness or other grounds which are not the fault of Dr. Brandt, remuneration will be paid as stipulated in § 3, Sec. 1 minus
sickness benefit for the duration of six months, not to extend beyond the term of the service contract. Dr. Brandt must offset against his salary any benefits paid by third parties as compensation for loss of earnings due to fault or otherwise
justified liability for the event triggering the incapacity to work. Such offsetting takes place only insofar as compensation for the loss of earnings is actually paid by a third party. 

  

 Page 3 of 5 

	2.	Should Dr. Brandt become permanently unable to work during the term of the service contract, the service contract will expire at the end of the sixth month of ongoing incapacity to
work. In cases of doubt, the permanent incapacity to work will be verified by a medical examiner. 

  

	3.	Should Dr. Brandt die during the term of the service contract, his widow and his legitimate children, insofar as the latter have not completed their 25th year of life, are entitled
as joint and several creditors to full payment of remuneration as specified in § 3, Sec. 1 for the month of his death and the three months following, at the longest until the ordinary termination of the service contract independent of the death
of Dr. Brandt. 

  
 § 7 
 Patents and inventions, etc. 
  

	1.	The laws and regulations on employee inventions apply to any inventions designed by Dr. Brandt during the term of the service contract. 

  

	2.	The company has the exclusive right of utilization for proposals made by Dr. Brandt for technical and organizational improvement without additional remuneration.

  
 § 8 
 Obligation to maintain confidentiality and documentation 
  

	1.	Dr. Brandt is obligated to maintain absolute confidentiality towards third parties with regard to all matters and relationships of the company, its subsidiaries and other companies
belonging to the corporate group to which the company belongs, especially with regard to trade and operational secrets. Legal obligations regarding disclosure remain unaffected. This obligation to maintain confidentiality also applies beyond any
termination of this service contract. 

  

	2.	Upon his departure from the management board of the company, Dr. Brandt must of his own accord and without being requested to do so, return to the company all materials,
certificates, books and records, notes, reports, drafts and any carbon copies or other reproductions of such documentation relating to matters of the company, its subsidiaries or other companies belonging to the corporate group and which are still
in his possession. Upon request of the company, Dr. Brandt must declare in writing that he has completely fulfilled this obligation. Any right of retention with regard to the aforementioned objects is precluded. 

  
 § 9 
 Final provisions 
  

	1.	Changes or supplements to this agreement must be made in writing. There are no oral ancillary agreements. 

  

 Page 4 of 5 

	2.	Should a provision of this contract be or become invalid, the legal validity of the other provisions of this contract remain unaffected. The invalid provision must be replaced by a
legally permissible provision which most closely reflects the economic intent and effect of the invalid one. 

  
 Nordhausen, April 7, 2005 
  

					
	 On behalf of the collective shareholders
of GAIA Akkumulatorenwerke GmbH:
	 	 	 	 
			
	  	 	 	 	  
	Dr. Hendrikus Harold van Andel	 	 	 	Dr. Klaus Brandt

  

 Page 5 of 5

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