Document:

Exhibit 10.66

Date: 19th Feb2007, 

Ref: HRD/RECT/01/2007

Mr.
M.
Kalyansunduram,
Hyderabad 

Dear M. Kalyansunduram,

In pursuance to our discussions and
your willingness to offer your services to the Company, we are pleased to offer
an appointment to you in our organization as VICE PRESIDENT, operating out of our
facility at Hyderabad. 

Your annual remuneration along with its
breakup is attached herewith as in Annexure
‘A’ and your employment with the Company
would be governed by the Terms and Conditions referred hereto in Annexure ‘B’. 

Employment per this offer letter is
subject to the accuracy of the information provided by you and the Company
reserves its right to withhold this offer due to the reasons beyond its control
and business contingencies. 

You are requested to report at our
office, situated at 5th Floor, I-labs Building, Plot no: 18, software units layout,
Madhupur, Hyderabad on or before April 16th,2007 at 10.00 am and meet Mr.
Sivaramakrishnan Kalyanaraman Vice President Global HR, for the completion of
your joining formalities, failing which, this offer would automatically stand
withdrawn unless consented to contrary by the Company.

Please sign the duplicate of this
letter of offer and return it to us by Mrach’07 as a token of your acceptance of
this offer and the terms and conditions of your employment with the Company.

As a new employee of Intelligroup, we
look forward to a long and mutually fruitful association with you. 

Yours Sincerely, 

 

Sivaramakrishnan Kalyanaraman,
Vice
President Global HR 

103

Annexure A 

	Name 
    	 	:
      M. Kalyansunduram 

	Designation  		: VICE
      PRESIDENT  

	 
      Base  	  	Monthly
      (Rs.)  	Annual
      (Rs.)  
	  consisting of:  	  	  	  
	  	Basic  	222214  	2666568  
	  	HRA 
    	88885  	1066620  
	  	Conveyance  	  	  
	  	Allowance  	800  	9600  
	  	Medical
      Allowance  	1250  	15000  
	  	Special
      Allowance  	109071  	1308852  
	 	 	 	 
	  Sub Total
      1  	  	422220  	5066640  
	  
	  Retrials  	  	  	  
	  Consisting of:  	  	  	  
	  	PF 
    	26665  	319980  
	  	Gratuity***  	10683  	128196  
	  
	  Other Benefits  	  	  	  
	  Consisting of:  	Food*  	1100  	13200  
	  	Insurance**  	1000  	12000  
	  
	  Sub Total
      2  	  	44448  	533376  
	  
	  Performance Based
      Incentive***  	  	116666  	1399992  
	   
	  Cost to Company
      (CTC)  	  	583334  	7000008  

 

	* 
	Food Allowance will not
      be applicable while availing per diem / Project Allowance. 
  
	**  	Insurance Covers Group
      Personal Accident, Group Life and Hospitalization.  
	***  	As per Gratuity
      Laws.  
	****   You would be eligible for Performance Incentive
      based on your performance vis-à-vis the objectives / tasks assigned to
      you, the performance of your group / function and the organization’s
      performance. The amount shown is indicative of maximum earning potential.
      The performance incentive will be paid on an Half yearly
basis
	CTC
      P.A: 7000008/- (Rupees Seventy Lakh and Eigth only in
      words)

The above are subject to the policies
of the organization, as applicable from time to time. 

Sivaramakrishnan Kalyanaraman,
Vice
President Global HR 

104

Annexure B
TERMS & CONDITIONS OF EMPLOYMENT 

1. Verification & submission
of copies of certificates 

You are required to produce all your
certificates viz. Marks sheets, provisional certificates in support of your
qualifications, experience, and also the relieving letter from your previous
employer in original for our verification at the time of your joining and also
submit one set of certified photocopies of the same for our records. List of the
documents/certificates to be submitted on or before your date of joining are
specified in Annexure ‘C’ herein. In addition, you would also be required to
submit 3 passport size color photographs and a copy of your passport.

In case of your inability to produce
the certificates/copies as mentioned above (excluding resignation acceptance
letter from your previous employer), you are required to submit the same within
one month of your joining the Company, failing which your employment may be
terminated at the discretion of the Company. At the time of joining, it is
mandatory that you should submit your resignation acceptance letter from your
previous employer in the absence of your relieving letter.

2. Probation 

You would be under probation for a
period of Six (6) months from the date of your joining the Company. Your
performance would be closely monitored during the probation period and such
probation period may be shortened / extended depending on your performance and
ability displayed during the probation period. During probation, if your
performance is found to be satisfactory and you have been successful in the
assignments assigned to you, your services may be confirmed.

3. Responsibilities

You would render all reasonable duties
and functions expected of you which would include but not limited to Recruitment
of Operations. During the tenure of your employment with the Company, you will
devote your full time and abilities to the performance of the assignments
assigned to you and agree to comply with Company’s existing and future policies
as may be amended and supplemented from time to time. 

4. Working Hours 

You shall be present in the office
during normal working hours or in shifts as may be communicated to you by your
reporting manager. You may be required to come either early or stay late hours
depending on the business needs and may have to work additional hours on request
of Company’s clients. You shall provide details regarding utilization of your
time by entering the same into Company’s time sheet “ESS” on a daily
basis.

5. Statutory
Deductions 

Company will make necessary statutory
deductions from your gross salary and directly pay on your behalf to the
concerned authorities. In the instance where Company does not make such
deductions, you agree to make such payments to the concerned authorities keeping
the Company informed. 

105

6. Insurance 

You and your family members, as
applicable, will receive Health and Welfare Insurance as per Company’s insurance
scheme. Company reserves its right to terminate its participation in any of the
schemes or substitute another scheme or alter the benefits available to you
under any of the schemes. If the insurance company refuses to provide any
relevant benefits to you under any applicable scheme for any reason, Company
shall not be liable to provide or compensate you for the loss of such benefits.

7. Status Report 

You will provide to the Company from
time to time, with any reports that are deemed necessary, including but not
limited to your work related activities and accomplishments. 

8. Intellectual property Rights

You agree to disclose any invention,
development, process, plan, design, formula, specification(s), or other matter
of work whatsoever created, developed, or discovered by you, either alone or in
concert, in the course of your employment and the same shall be the absolute
property of the Company. Any Intellectual Property Rights and the rights to
inventions arising out of your activities hereunder, or if ownership rights
cannot be transferred under applicable law, any exploitation rights relating
thereto, shall be transferred to the Company in accordance with the applicable
law. You shall assist the Company in perfecting and protecting its Intellectual
Property Rights.

9. Confidentiality 

During your employment with the
Company, you will work honestly, faithfully, diligently and efficiently in the
interest of the Company. You are expected to maintain utmost secrecy with regard
to the affairs of the Company (while during employment and thereafter) and shall
keep confidential any and all information, instruments, documents, strategies,
methodology etc., relating to the Company and or its Clients that may come to
your knowledge as an employee of the Company. In this regard, you may be asked
to execute / sign a Non Disclosure Agreement as may be required by the Company.

10. Code of
Conduct 

You shall conduct yourself in
conformity with the code of conduct of the Company, as in force from time to
time, a copy of which would be provided to you at the time of your joining and
can also be viewed in Company’s intranet. Further, you shall carryout the
instructions in letter & spirit, given by your superiors and shall not
disobey the instructions given. You shall not indulge in any unethical practices
like “go slow” or non-cooperation etc. 

11. Restraints 

A.
Access to Information 

Information is available on need to
know basis for specified groups. The network file server is segregated to allow
individual sectors for projects and units. Access to these are authorized
through access privileges approved by the concerned. 

106

B.
Non disclosure 

You are expected to maintain utmost
secrecy with regard to the affairs of the Company and its business, activities,
strategies, details of its clients etc and shall keep confidential any and all
information, instruments, documents etc., relating to the Company and or its
client(s) that may have come to your knowledge/possession as an Employee of the
Company. 

C. Non Compete 

Your position with the Company calls
for full time employment and you will devote yourself exclusively to the
business of the Company. You will not take up any other work for remuneration
(part time or otherwise) or work on advisory capacity or be interested directly
or indirectly (except as shareholder or debenture holder) in any other trade or
business, during your employment with the Company, without written permission
from the Company. On leaving the services of the Company, you shall not take up
a full-time/part-time employment with any of our customers and associates for a
period of 1 year. You understand and agree that such restriction is reasonable
and in the interest of the Company’s businesses. 

D. Authorization 

Only those authorized under specific
authorization/resolution issued by the Board of Directors of the Company may
sign legal documents, representing the Company. 

E. Smoking 

We owe and assure a smoke free
environment for our employees. Barring some areas, the entire office premises
including conference rooms, lobbies, Cafeteria is declared as “No-Smoking Zone”.

F. Passwords 

Access to our network, development
environment is through individual’s password. For security reasons, it is
essential to maintain confidentiality of the same. If the password is forgotten,
our TSS team is to be contacted to reset and allow you to have a new password.

G.
Security 

Security is an important aspect of
Intelligroup`s communication and office infrastructure. If you wish to work late
or early hours, you are requested to produce your identity card to the security
personnel on demand. 

If there is a need to take some of the
equipments/infrastructure out of the office premises for any official purposes,
you shall obtain the gate pass from the security staff. 

The communication security is
maintained by controlling physical access to computer systems, disabling all
workstation floppy disk drives, pen/flash drives, and a Company-wide awareness
about the need for protection of Intellectual property and sensitive customer
information. For some projects, the Company uses sophisticated data encryption
devices. You may not be allowed to download any files, images, data of the
Company/its clients without specific permission from the concerned.

107

Your work table and storage space is
lockable. Please ensure they are locked when unattended. Duplicate keys are
maintained with the Administration department. One can take a duplicate key
after signing for it for one’s own or team members’ table or storage.

H.
Destroying Papers & Material 

Any official communication, which is
confidential in nature, shall be destroyed / shredded after the purpose is
served and if such document/communication is not required for any repository
purposes. 

I.
Use of Company Resources 

You shall use any and all Company’s
resources only for official purposes. Any misuse or breach committed would call
for necessary disciplinary action including termination of employment with the
Company. 

12. Performance
Review 

Your performance would be reviewed
periodically as per Company’s policies and may advice for any enhancement in
your gross salary and re-designate your position with the Company. Such
enhancement and re-designation would depend on your performance and your ability
to accomplish the given assignments and your justification of your role in the
Company and at Company’s discretion.

13. Statement of
facts 

It must be specifically understood that
this offer is made based on your proficiency in technical/professional skills
you have declared to possess as per the application. In case, at a later date,
any of your statements/particulars furnished are found to be false or
misleading, Company shall have the right to terminate your services forthwith
and you shall be considered to have committed breach of Terms and Conditions of
your employment. 

14. Place of probation &
transfer 

Company shall have the right to decide
the place of your probation and has the right to transfer you to any location,
department, establishment. In such a case, you will be governed by the terms
& conditions of service applicable to the new assignment without any
financial loss. 

15. Personal
Indebtedness 

Company shall not be responsible for
any personal indebtedness or other liabilities incurred by you, during your
employment with the Company. You understand and accept that you shall have no
authority to pledge the credit of the Company to any person or entity without
necessary written authorization from the designated official of the Company.

108

16. Indemnification 

You shall indemnify, defend and hold
Intelligroup Asia Private Limited, its officers, directors, associates and
agents, harmless from any and all claims, causes of action, damages, obligations
or liabilities or any kind or nature arising out of or connected with any act or
omission of yourself during the course of your employment with the Company.

17. Termination
Notice 

Intelligroup is a “at will” employer
and nothing contained herein or in any other agreement shall alter the “at will”
employment relationship that exists between you and the Company. Your
association with the Company is crucial and any severance without notice on your
part would cause irreparable damage to the Company. During the period of your
association with the Company, Company may dispense with your probation/services
as the case may be by giving a written notice of 60 days. However, in the event
of your committing any breach to the terms and conditions of your employment
with the Company or due to business exigencies, your services may be terminated
with immediate effect. In lieu of the notice, Company may pay you two month’s
net salary and you may with a written notice of 60 days terminate your services
with the Company.

18. General 

The waiver by either party of a breach
of any provision of the terms and conditions of employment shall not operate or
be construed as a waiver of any subsequent breach. If any provision of the terms
and conditions herein shall be declared to be illegal or unenforceable for any
reason, the remaining provisions of the terms and conditions shall remain in
full force and effect. The courts at Hyderabad shall have exclusive jurisdiction
over this offer.

The above terms and conditions are
based on Company policies, procedures and other rules currently applicable and
are subject to amendments from time to time. These policies are available in
Intelligroup’s Intranet ‘Connect’ and you are requested to visit the site to get
updated with the changes from time to time. By signing a copy of this offer
letter, you are consenting that you will visit ‘Connect’ and get familiarized
with Company’s policies. You will abide by all other rules and regulations of
the Company as shall be in force, from time to time. 

In all matters, including those not
specifically covered herein, such as traveling, Leave entitlement, etc., you
would be governed by the rules of the Company which are available in the
Company’s Intranet page ‘Connect’.

Any claim by you against the Company
arising out of your employment / termination of employment shall be made in
writing and served upon the Company within one month from the date of your
leaving the Company. Any claim made by you beyond one month shall be waived by
you and shall not effect or bind the Company with respect to such claim.

109

You shall not, without specific
permission from the Company, accept or demand loans, gifts, any other benefits
from the clients of the Company or any person(s) with whom you have official or
business contacts in the context of your activities of the Company. 

_____________________________________________________________________
I have read the above terms and conditions of Employment and
hereby confirm strict adherence to the same. 

Date: March 28, 2007.

Signature: /s/ Kalyan Sundaram
Mahalingam

Place: Hyderabad, India

110f10ksb2007ex10_magnegas.htm

    

     

    EXCLUSIVE
AND ALL ENCOMPASSING LICENSE

    ON
THE MAGNEGAS TECHNOLOGY

    FOR
THE AMERICAN CONTINENT

     

    THIS
AGREEMENT, entered into this 6th
day of April, 2007 , by and between:

     

    HYFU ELS,
INC.

    35246
U.S. Highway 19 North, # 215

    Palm
Harbor, Florida 34684,

    A Florida
corporation hereinafter referred to as "HyFuels, Inc.)

     

    and all
preceding parties collectively referred hereon as "Licensor",

     

    MAGNEGAS
CORPORATION 

    35246 US
Highway 19 North, #311 

    Palm
Harbor, Florida 34684

     

    A public
Delaware company hereinafter referred to as "Licensee".

     

    WITNESSETH

     

    WHEREAS, Santilli has
developed the patented Magnegas Technology as described in details in the web
site http://www.magnegas.com;

     

    WHEREAS, Santini has
irrevocably assigned all existing and future patent applications in the American
Continent to HyFuels, Inc., the Licensee, as also officially recorded in the U.
S. Patent and Trademark Office.

     

    WHEREAS, Santini and
HyFuels, Inc., collectively referred to as the Licensor, are willing to grant to
Licensee an exclusive and all encompassing license on the Magnegas Technology
according to terms and conditions specified hereinafter;

     

    WHEREAS, Licensee desires
to obtain an exclusive and all encompassing license on the Magnegas Technology
for the territory identified hereunder,

     

    THE
PARTIES AGREE TO THE FOLLOWING:

     

        1.
Under the terms and conditions hereinafter stated, Santilli and HyFuels, Inc.,
acting individually and collectively as Licensor hereby grant to Licensee the
exclusive all encompassing license, hereinafter referred to as the "License", as
follows:

     

    1A. the
License is granted on the Magnegas Technology for all possible present and
future use, manufacture, advertisement, promotion and sale of all possible
present and future products, parts, services and all possible
present and future fuels derivable from liquid feedstock via the patented
PlasmaArcFlow Process;

     

    1B. the
License is granted on all existing and future patent and patent applications as
per Schedule "A" attached and is based on the process of liquid feedstock via
the PlasmaArcFlow Process, including all available and future trademarks, domain
names, copyrights, know-how and any other related intellectual
property,

     

     

    
      
         

      

      
        1

        
          
 

      

      
         

      

    

     

     

    1C.the License is granted
in the entire American Continent, including Alaska, Hawaii and the Caribbean
Islands, hereinafter referred to as the "Territory":

     

    ID. the License is granted
with full authority to grant Sublicenses or set up Partnerships without the
authorization by Licensor under the sole condition that said Sublicenses and/or
Partnerships are restricted to operate with the Territory as above
specified.

     

        2. Licensor
and Licensee understands and accept that this License is hereby granted without
any payment of any royalty at all for the duration of all existing and future
patents.

     

        3. In view
of the lack of payment of any royalty, this license is conditioned upon and it
is activated only at the time of the issuance by Licensee to Licensor and/or
assignees of 100,000 shares of Licensee's common stock.

     

        4. No
minimum sales are requested as part of this License.

     

        5. The
License hereby granted is solely assignable following the written and notarized
consent by HyFuels, Inc.

     

        6. Licensee
has the exclusive option, hereinafter referred to as the "Option", to purchase
all patents, all patent applications, all trademarks, all domain names, all
copyrights and all other intellectual property on the Magnegas Technology in the
above identified Territory for the duration of 5 (five) years from the date of
signature of this
License upon the payment of $30,000,000.00
(thirty million U.S. dollars). In the event Licensor receives a bona fide
offer for the purchase of said intellectual rights during said period of five
years from the date of signature of this License, Licensor has the obligation of
communicating said bona fide offer to Licensee, and Licensee has the option, but
not the obligation, of purchasing said intellectual rights. In the event of
inability by Licensee for any reason to exercise said Option and said
intellectual rights are acquired by other parties, this License remains in full
force and effect.

     

        7. Following
the issuance of stock under this License as in Paragraph 3 above, Santini shall
become a scientific consultant of the Licensee under a separate five year
Consulting Agreement at 70% of his time. During such a consultancy with
Licensee, Santilli shall continue to provide scientific and technical assistance
to Licensor at 30% of his time.

     

        8. All
patents, patent applications, trademarks, domain names, and any other
intellectual property developed
by Santilli while acting as a consultant of the Licensee as well as of
the Licensor shall become automatically available to Licensee under this
License, although they shall be the exclusive property of the Licensor for
possible purchase by Licensee in the event the above identified exclusive Option
is exercised.

     

        9. Licensee
and/or Sub-Licensees and/or Partners shall apply to PlasmaArcFlow Recyclers
manufactured under this License a notice stating "Manufactured under Santilli
Patents".

     

        10. Following
the issuance of the stock as per paragraph 3, Licensor shall provide to Licensee
any and all information available on the Magnegas Technology, including any and
all available construction drawings, any and all available technical
information, and any and all available know-how as it may be requested by
Licensee to Santini under the above indicated Consulting
Agreement.

     

        11. Licensee
and Licensor are obliged to keep each other informed of any and all advances,
any and all technical information, and any and all developments on the Magnegas
Technology. In particular, Licensee and Licensor shall exchange copies of all
construction drawings, advertisement and other material pertaining to equipment
and processes under this License. In conformity with

     

    
      
         

      

      
        2

        
          
 

      

      
         

      

    

     

    such a
requirement, Santilli has complete freedom of informing Licensor and Licensee of
all technical development on the Magnegas Technology without any infringement of
any confidentiality that may be implied by the Consulting Agreements between
Santilli and the Licensee as well as the Licensor.

     

        12. All
individuals and parties acting under this License, including but not limiting to
Santilli, Licensor, Licensee, Sub-Licensees and Partners, shall keep all
information on the Magnegas Technology confidential and disclose to other
parties or to the public only the information necessary for
sales promotion and other prudent business practice.

     

        13. Licensee
and/or Sub-Licensees and/or Partners shall keep detailed records and books of
accounts as shall be necessary for the determination of royalties payable
hereunder, and shall furnish copies thereof to Licensor at Licensor's request.
Licensor or his nominee may, at any time during business hours, make such
examinations as it deems necessary to verify such records and books of
account.

     

        14. Licensee
and/or Sub-Licensees and/or Partners shall as soon as possible after receiving
technical information as herein provided begin or cause the manufacture and sale
of The Product and Associated Processes herein licensed and shall throughout the
life of this License exert the best efforts to create, supply and service
throughout the Territory as extensive a market for The Product and Associated
Processes as possible.

     

        15. Licensee
and/or any Sub-Licensees and/or any Partners agree to use their best efforts to
promote the sale of The Product and Associated Processes throughout the
Territory. In the event Licensee and/or Sub-Licensees and/or Partners fail to
utilize its best efforts at marketing The Product and Associated Processes for
365 consecutive days, Licensor shall have
the right to terminate this License by giving Licensee and/or
Sub-Licensees and/or Partners (30) days advance written notice of such
termination. Best efforts, as that term is contemplated in this License, shall
be assumed to have been exerted in the event-the Licensee and/or sun-Licensees
and/or Partners shall achieve by actual sales of The Product and the Associated
Processes.

     

        16. Licensor
provides no warranty of any type, whether explicit or implied, that, at the time
of the signature of this License, there exist no infringements of Licensor's
patents rights anywhere in the Territory. In the event at the time of activation
of this license as per Paragraph 2 above, infringements of Licensor's patent
rights exist, Licensor shall pay all costs of the related litigations and secure
all possible benefits. Licensor has the obligation of communicating to the
Licensee any court judgement resulting from litigation immediately following
their release.

     

        17. Licensor
provides no warranty of any type, whether explicit or implied, that
infringements of Licensor's patents right shall not occur at any future time
during the life of this License. In the event of such possible future
infringements, Licensee and Licensor have no obligation to file lawsuits for the
protection of said
rights, although Licensee or Licensor may individually elect
to file protective lawsuits without the necessary
participation of the other party. Licensor shall not be obligated to defend or
save harmless Licensee and/or Sub-Licensees and/or Partners against any suit,
damage claim, or demand based on actual or alleged infringement of any patent or
trademark or any unfair trade practice resulting from the exercise or use of any
right or license granted hereunder. In
the event that the rights hereunder granted shall be challenged by any
person or company claiming patent infringement by the use thereof, Licensor
shall assist Licensee to its best, including the release of such information
Licensee it deems to be necessary, or to provide the date or dates of discovery
of said invention and techniques, provided that Licensor shall not be obligated
to incur any expense in connection therewith.

     

        18.
In the event that Licensee, and/or Sub-Licensees and/or Partners become aware of
any infringement of any patent under which it is licensed, it shall notify
Licensor and shall be entitled by

     

     

    
      
         

      

      
        3

        
          
 

      

      
         

      

    

     

     

    itself to
take proceedings in the name of and with the approval of Licensor to restrain
such infringement at its own expense and for its own benefit as regards any
damages and costs recovered. Licensor shall be entitled to be represented at
such proceedings by its own counsel, at its own expense.

     

        19.
This License automatically terminates without prior or any notice from Licensor,
upon:

    (i)   
the
bankruptcy or insolvency of Licensee,

    (ii)  
the
filing by Licensee of a petition for bankruptcy,

    (iii) 
the making by Licensee of an assignment of this license for the benefit of
creditors,

    (iv) the
appointment of a receiver of Licensee or of any of its assets which appointment
shall not be vacated within sixty (60) days thereafter, or

    (v) the
filing of any other petition for relief from creditors based upon the alleged
bankruptcy or insolvency of Licensee which shall not be dismissed within sixty
(60) days thereafter.

     

        20.
The termination of this License, by expiration or otherwise, does not release
Licensee and/or Sub-Licensees and/or Partners from any of their obligations
accrued hereunder including the obligations to furnish statements and to pay
compensation with respect to The Product and Associated Processes manufactured
during the term of this agreement, or actually in manufacture upon such date of
termination by Licensee or any of its subsidiaries, or rescind or give rise to
any rights to rescind anything done or any payment made or other consideration
given to either party hereunder prior to the time such termination becomes
effective. In case of any such termination, Licensor shall have the right to
give public notice of such termination in such manner and at such time and
places as it may deem advisable.

     

        21. From and
after the effective date of any termination of this License, Licensee and/or
Sub-Licensees and/or Partners shall have no further rights hereunder except the
provisions with respect to any action commenced prior to the effective date of
such termination until the final disposition thereof.

     

        22. From and
after the effective date of any termination of this License, Licensee shall have
no further rights hereunder and Licensor shall be free to grant a new license to
other parties in the Territory identified in Paragraph 1.

     

        23. Termination
of this License shall not relieve Licensee or Licensor of
their respective obligations to prevent duplication or disclosure of
technical information furnished as provided in the provisions of this
License.

     

        24. The
addresses of
the parties remain those identified at the beginning of
this License and shall remain in effect until each party notifies in
writing all other parties of any change of address.

     

        25. Notices
and written statements required hereunder shall be deemed to have been duly
given upon the mailing thereof, postage paid, to the party entitled thereto at
its above address or at such other address as may from time to time be
designated in writing to the other party.

     

        26. Any
assignment of this License shall provide that neither Licensee nor Licensor
shall be relieved of their respective obligations with respect to the use,
duplication or disclosure of technical information furnished as provided in
paragraph 5
hereof.

     

        27.
This License is executed and delivered with the understanding that it embodies
the entire agreement between the parties and that there are no prior valid
representations, warranties or agreements relating thereto. All parties further
agree that this License supersedes, voids and otherwise replaces any and all
prior agreements, understandings or expectations between the
parties.

     

    
      
         

      

      
        4

        
          
 

      

      
         

      

    

     

        28. This License
shall be construed and the legal relations between the parties determined in
accordance with the laws of the State of Florida. In connection with any
litigation including appellate proceedings arising out of this License, the
prevailing party shall be entitled to recover reasonable attorneys' fees and
costs.

     

        29. This
License is prepared in 6 (six) originals,.

     

        30. This
License is automatically null and void unless signed by all parties on or before
(seven) days from the date of signature of the first party.

     

        31.
All parties accept as
binding the reception by fax of an initialized, signed and notarized
copy, with original

     

    IN
WITNESS WHEREOF.

     

     

     

    /s/Ruggero Maria Santilli                                                     
April 6, 2007

    Ruggero Maria Santilli                                                                 
Date

    as
President of HyFuels, Inc.

     

     

    /s/
Bo
Linton                                                                             
April 6, 2007

    Bo
Linton                                                                                        
Date

    as
President of  Magnegas Corporation

     

     

    
      
         

      

      
        5

        
          
 

      

      
         

      

    

     

    Exclusive
and All Encompassing License

    On
the Magnegas Technology

    Signed
April 6, 2007

     

    Schedule
“A”

     

    As per
the attached Exclusive and All Encompassing License, below is a list of patent
and patent applications included in the license:

     

    U.S.
Patent 6,972,118

    Apparatus
for Processing Hydrogen, Oxygen and Other Gases Issued 12/2005

     

    U.S.
Patent Application S.N. 11/474,687 Novel Plasma-Arc-Flow Apparatus Filed
6/2006

     

    Application
Under Filing

    Novel
Plasma-Arc-Flow Apparatus and Process for Submerged Electric Arcs

     

    6

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