Document:

Unassociated Document

    
      
        
          

        

      

      EXHIBIT
        10.11

      

        INVENTION
          TRANSFER AGREEMENT

      

    

     

     

    This
      Invention Transfer Agreement (hereinafter: Agreement)
      was entered into by and between

    

    SALCA
      János (residing at 1014 Budapest, Úri u.18. ground floor No. 2;
      mother’s name: JUHÁSZ Mária) and

    

    SALCA
      Viktor (residing at: 1014 Budapest, Úri u.18. ground floor No. 2;
      mother’s name: NAGY Katalin )

    

    (referred
      to hereinafter collectively as Inventors), on the one
      hand, and

    

    VIDATECH
      Technológiai
      Kutató, Fejlesztő és Szolgáltató Korlátolt
      Felelősségű Társaság (head office: 1095 Budapest, Soroksári út
      94-96.; company registration No.: 01-09-870107, registered at the Budapest
      Metropolitan Court as Court of Registration, represented by KUN Dániel Jr.,
      Managing Director; hereinafter: Legal Successor), on
      the other hand,

     

    (referred
      to hereinafter separately as Party and collectively as Parties), at the date
      stated hereinbelow.

     

    Whereas

    

    
      	
               

            	
              ·

            	
              The
                Inventors created an invention to be presumably qualified as patentable
                by
                Pintz & Partners Patent and Trademark Office (Budapest District XII,
                Mártonhegyi út 31.) on the basis of Act XXXIII of 1995 on the Patent
                Protection of Inventions (hereinafter: Patent
                Act) (referred to hereinafter as
                Invention);

            

    

    
      	 	 	 

      	
               

            	
              ·

            	
              The
                Legal Successor is dealing in the utilisation of inventions and
                patents,

            

      	 	 	 

    

    
      	
               

            	
              ·

            	
              Vidatech
                is the fully owned subsidiary (registered in the Republic of Hungary)
                of
                Power of the Dream Ventures, Inc. (a public limited
                company registered in the State of Delaware of the United States
                of
                America, represented by ROZSNYAY Viktor, President and
                CEO);

            

    

    

    the
      Parties agreed this day under the following terms and conditions:

     

    I.
      Definitions used in the Agreement

    

    The
      detailed technical and technological description of the Invention is contained
      in Annex No. 1 to the Agreement. The Parties shall understand by Invention
      the
      equipment named River-Power, to be lowered under the water
      surface and transforming the movement energy of current water into electric
      power.

    

    By
      Documentation the Parties shall understand the detailed technical and
      technological description (execution and manufacturing designs) of the
      Invention, on the basis of which the equipment can be manufactured and the
      receipt of which is acknowledged by the Legal Successor through signing this
      Agreement.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    II.
      Purpose of the Agreement

    

    The
      purpose of this Agreement is for the Inventors to transfer to the Legal
      Successor the exclusive right of utilising and patenting the Invention, with
      the
      aim of the Legal Successor’s patenting the Invention, having it registered as a
      patent in the patent registers and later on manufacturing or having the
      Invention manufactured or utilising it in manufacturing processes in the course
      of the utilisation of a potential patent (hereinafter:
Patent), and, furthermore, the Legal Successor’s
      re-transferring the exclusive right of utilisation to a third party (which
      may
      also be a US public limited company established jointly by the Parties) and
      the
      Parties’ sharing in the fees thus received on a proportionate
      basis.

     

    III.
      Subject matter of the Agreement

    

    Based
      on
      the Agreement the Inventors assign the right of patenting and utilising the
      Invention, thus in the course of the patenting proceeding the Legal Successor
      shall become the exclusive and full legal successor of the Inventors, and the
      patent claim related to the Invention will be due to the Legal Successor, while
      the Legal Successor shall pay a fee against it.

    

    Based
      on
      the Agreement the Inventors undertake the obligation to make their best efforts
      for the purpose of the smooth and ongoing development of the Invention, whose
      costs will be entirely borne by the Legal Successor according to this
      Agreement.

    

    With
      regard to the fact that no employment (or any other similar relation directed
      to
      the performance of work) is or was existing between the Inventors and the Legal
      Successor, the Parties declare that the Invention is no service or employee
      invention on the basis of the relationship existing between the Parties, and,
      consequently, this Agreement is no agreement for invention fee or agreement
      for
      the utilisation of employee invention. The statutory provisions relating to
      service and employee inventions shall not apply to the Parties’ legal relation
      set out in this Agreement.

     

    IV.
      Delivery and receipt of rights

    

    1.
      Extent of the delivered right

    

    By
      the
      execution of this Agreement the patent claim will devolve upon the Legal
      Successor, as legal successor of the Inventors.

    

    By
      the
      execution of this Agreement the Inventors expressly consent to the submission
      of
      the patent application and to the publication of the Invention, nevertheless
      the
      Legal Successor will be exclusively entitled to do such acts.

    

    The
      Agreement is entered into for indefinite time and without any territorial
      restriction, and it shall cover all characteristics of the Invention (and the
      Patent), as solution, all potential claims end every method and extent of
      utilisation.

    

    The
      Inventors shall warrant during the whole term of the Agreement that the
      Invention has been created solely by them and no third party has any right
      relating to the Invention, which prevents or restricts patenting or
      utilisation.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    The
      Inventors warrant also that the Invention is technically feasible and it can
      be
      operated, and they acknowledge that they have handed over to the Legal Successor
      a low-performance prototype for plant trials and measurements, whose appropriate
      operation was made sure by the Legal Successor.

    

    2.
      Exclusivity, transferability

    

    Based
      on
      the express agreement of the Parties the Legal Successor will acquire the
      exclusive right to the patent claim by this Agreement, and in case of the Patent
      being granted the Legal Successor as patentee will be entitled to any kind
      of
      utilisation of the Patent and/or to decision-making thereon with the consent
      of
      the Inventors.

    

    The
      Parties expressly agree that the Legal Successor will not be entitled to
      re-assign the entitlements, embodied and transferred by this Agreement, to
      any
      third party without any further permission or consent, and/or to grant any
      licence of utilisation to any third party. The Legal Successor shall inform
      the
      Inventors on all important decisions and they will make a decision in common
      consent in each case.

    

    3.
      Obligation of supply of information

    

    The
      Inventors shall provide for the Legal Successor all required information related
      to the Invention (thus particularly the information required in the patenting
      proceeding), supply all deeds and documents, inform the Legal Successor on
      any
      relevant rights and important circumstances and disclose the economic, technical
      and organisational know-how and experience related to the implementation of
      the
      Invention.

    

    The
      obligation set out in this Clause shall charge the Investors – in case of the
      transfer of the rights to a third party – towards such third party.

    

    The
      Inventors undertake the obligation to make or obtain the declarations required
      for patenting the invention and for entering the Legal Successor as patentee
      in
      the register kept on patent applications and/or in the patent register, and,
      furthermore, to do all legal acts required for the acquisition of right by
      the
      Legal Successor, and whose performance would not be possible for the Legal
      Successor at all or would only be possible in case of undertaking considerably
      higher difficulties.

    

    4.
      Counter-value, consideration

    

    50%
      of
      all revenues due to the Legal Successor in the course of the utilisation of
      the
      Invention (including the fees payable by third parties, if the Legal Successor
      re-transfers the exclusive right of utilisation or of patent to a third party)
      shall be due to the Inventors, as gross inventor’s fee, i.e. based on the
      express agreement of the Parties the inventor’s fee shall include the amount of
      the payable general turnover tax [VAT] and/or the deductible taxes and other
      public dues.

    

    All
      costs
      related to patenting and utilising the Invention or transferring the relevant
      entitlements (expenditures in material and personal nature, out-of-pocket
      expenses, fees, stamp duties, etc.) shall charge the Legal
      Successor.

    

    Any
      costs
      related to the manufacturing activity, manufacturing processes and sales of
      the
      product connected to the Patent shall be borne jointly by the Parties, i.e.
      in
      case of direct manufacturing and sales (or in case of manufacturing and sales
      with the involvement of subcontractor) it shall not be 50% of the Legal
      Successor’s revenue, but 50%, say fifty percent of the operational result
      derived from this activity for the Legal Successor, which shall be due to the
      Inventors as inventor’s fee.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    The
      Parties jointly agree that the Inventors will receive, as further remuneration,
      50,000 pieces of registered common shares per person from the
      shares of Power of the Dream Ventures, Inc. (PDVI), as public
      limited company, being 100% owner of Vidatech, to a face value of USD
      0.0001 each, which they will be free to sell on the open stock exchange
      market, and which will be set out in the so-called “SB2” document to be
      submitted to the US Securities and Exchange Commission by PDVI. Both the
      Managing Director of Vidatech Kft. and the President and CEO of Power of the
      Dream Ventures, Inc. consent to this Agreement in common understanding, since
      the Inventors designate the Legal Successor as patentee of the Invention, in
      consideration for the shares.

    

    5.
      Performance of payment obligations, payment
      securities

    

    The
      Legal
      Successor shall send the Inventors a written notice (settlement of accounts)
      on
      the amount of the inventor’s fee regulated in Clause IV. 4. above, by the last
      day (inclusive) of each quarter, within 10 (ten) business days following the
      given quarter. The Inventors shall approve the settlement of accounts within
      10
      (ten) business of the receipt, or they may dispute in writing the settlement
      of
      accounts, in the absence of which the settlement of accounts shall be considered
      to have been expressly accepted and approved. The settlement of accounts may
      be
      disputed by the Inventors subsequently exclusively alleging the fact that they
      have been misled in respect of the facts serving as basis for the settlement
      of
      accounts.

    

    6.
      Checking of the business books

    

    The
      Inventors shall be entitled to check the adequacy of the settlement of accounts
      defined in Clause IV. 5. above and to inspect the financial certificates related
      to this Agreement at the head office (premises) of the Inventors.

     

    V.
      Miscellaneous provisions

    

    1.
      Territorial scope of the Agreement

    

    The
      territorial scope of the Agreement shall cover all countries of the Earth
      without any restriction.

    

    2.
      Temporary scope of the Agreement, expiry of the
      Agreement

    

    The
      Parties enter into the Agreement for an indefinite period of time reckoned
      from
      the execution.

    

    3.
      Amendment to the Agreement

    

    Both
      Parties reserve the right to amendment, if such change is advantageous for
      both
      parties

    

     The
      Agreement will cease to exist for the future, if

    

    
      	
               

            	
              ·

            	
              the
                potential Patent itself, i.e. all rights connected to the Patent
                (including the status of patentee) have been sold to a third party
                and the
                Parties have settled accounts with each other on the basis
                thereof.

            

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    3.
      Reasons for termination by notice. Stipulation of the right of termination
      by
      extraordinary notice

    

    The
      Agreement may not be terminated by ordinary notice.

    

    The
      Agreement may be terminated by either Party in writing, by extraordinary notice
      with immediate effect, if the other Party violates the Agreement seriously,
      in
      spite of written warning to the consequences. The Parties shall deem the
      following circumstances to be serious breaches:

    

    
      	
               

            	
              ·

            	
              The
                Inventors do not meet their obligation of warranty defined in Clause
                IV.
                1. of this Agreement in any respect
                whatsoever;

            

    

    

    
      	
               

            	
              ·

            	
              The
                Legal Successor fails to pay the inventor’s fee approved by the Inventors,
                in spite of written notice, within 30 (thirty) days reckoned from
                the
                notice.

            

    

    

    4.
      Stipulation of the applicable law

    

    In
      the
      issues not regulated in the Agreement the Parties shall deem to be compulsory
      for themselves the provisions of Hungarian law, thus particularly the Patent
      Act
      (Act XXXIII of 1995 on the Patent Protection of Inventions) and the Civil
      Code.

    

    5.
      Amicable settlement of legal disputes resulting from the Agreement. Stipulation
      of the jurisdiction of the Court

    

    In
      connection with their potential legal disputes related to the Agreement the
      Parties shall strive at settlement by negotiation. Should this have no result,
      the Parties stipulate already now the exclusive jurisdiction of the [Budapest]
      Metropolitan Court.

    

    6.
      Confidentiality

    

    The
      contracting Parties agree that the facts, data and information having become
      known to them relating to each other in the course of the conclusion and
      performance of the Agreement shall qualify as business secret, and they shall
      handle them confidentially in accordance with the rules relating to business
      secrets. This obligation shall cover the employees, representatives,
      subcontractors, etc. of the Parties and in general all persons, who/which have
      acquired the business secret in the interest of the performance of the
      Agreement, with the collaboration of the given Party.

    

    The
      protection of business secret shall also cover the fact that no one of the
      Parties will be entitled to make accessible for, or to disclose to, any third
      party any information or document related to the Agreement, particularly any
      information, business idea, plan, design or method qualifying as confidential,
      having become known to it on the other Party’s business or marketing activity,
      without the written consent of that other Party.

    

    The
      contracting Parties lay down that also the information obtained without the
      consent of the other Party, with the contribution of a person being in fiduciary
      or business relation with it at the date of or prior to the acquisition of
      the
      secret, shall also qualify as violation of business secret.

    

    The
      provisions for the protection of secrets shall remain in force and effect until
      the elapse of 5 (five) years following the termination of the
      Agreement.

    

    7.
      Notices

    

    Any
      notices related to the Agreement shall be forwarded to the Party concerned
      in
      writing, in registered mail, through hand delivery or via telefax message to
      the
      address defined below or to the address communicated by the other Party for
      this
      purpose in advance in writing.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              If
                to the Inventors:

            	 
	
              Name:
                SALCA János

            	
              Name:
                SALCA Viktor

            
	
              Address:
                1014 Budapest, Úri u.18. Fsz/2.

            	
              Address:
                same

            
	
              E-mail:

            	
              E-mail:
                salvik@t-email.hu

            
	
              Telephone:
                +36-20-328-4137

            	
              Telephone:
                +36-30-37-00-845

            
	
              Telefax:

            	 

    

    

    If
      to the
      Legal Successor:

    Name:
      Vidatech Kft.

    Address:
      1095 Budapest, Soroksári út 94-96.

    E-mail:
      info@powerofthedream.com

    Telephone:
      +36-1-456-6061

    Telefax:
      +36-1-456-6062

     

    The
      Parties shall notify to each other in writing, without delay, any possible
      change in the addresses or in the persons to be notified, specified in this
      Clause, which alteration will not require any amendment to the
      Agreement.

    

    The
      notices shall be deemed to have been served at the following dates: in case
      of
      hand delivery when the consignment is taken over by the recipient; in case
      of
      mailing when the acknowledgement of receipt is signed by the recipient; if
      the
      acknowledgement of receipt is not signed, then on the fifth business day
      following the second attempt of service; in case of communication via telefax
      when confirmation is received at the end of the transmission on successful
      transmission; in case of e-mail message when the sending Party receives a
      confirmation on the receipt of the message.

     

    The
      Parties signed this Agreement approvingly, after having read and interpreted
      it,
      as a deed in full conformity with their will.

     

    Dated
      in
      Budapest, on 24 May 2007

    
      

      

      
        	
                /s/
                  Salca Janos

              	 	
                /s/
                  Daniel Kun, Jr.

              
	
                SALCA
                  János, Inventor

              	 	
                Legal
                  Successor, its representative

              
	 	 	 
	
                /s/
                  Salca Viktor

              	 	
                /s/
                  Viktor Rozsnyay

              
	
                SALCA
                  Viktor, Inventor

              	 	
                on
                  behalf of Power of the Dream Ventures,
                  Inc.

              

      

    

     

     

     6Unassociated Document

    
      

    

    EXHIBIT
      10.12

    

    AMENDMENT
      TO INVENTION TRANSFER AGREEMENT

    

    *
      * * *

    

    AMENDMENT
      TO INVENTION TRANSFER
      AGREEMENT dated as of August 1, 2007 by and among each of VIDATECH Kft,
      a corporation organized under the laws of the Republic of Hungary (hereinafter,
      “Vidatech”); Power of the Dream Ventures, Inc., a Delaware corporation
      (hereinafter, “PDV”); Janos Salca and Viktor Salca, residents of the Republic of
      Hungary (each, unless otherwise specifically identified, an “Inventor and,
      collectively, the “Inventors”).  Each of Vidatech, PDV and the
      Inventors is, unless otherwise specifically identified, a “Party” and,
      collectively, the “Parties.”

    

    RECITALS:

    

    WHEREAS,
the
      Parties
      entered into an Invention Transfer Agreement on May 24, 2007 (the “Invention
      Transfer Agreement”), pursuant to which PDV’s wholly-owned subsidiary, Vidatech,
      obtained from the Inventors an assignment of patent rights in a certain
      hydroelectric energy producing technology based on converting river flow into
      electrical energy with slow-turning generating machines (the “River Power
      Technology”) as well as a right to commercialize the River Power Technology
      domestically and internationally; and

    

    WHEREAS,
in
      exchange
      for the grant of these rights to PDV and Vidatech, the Inventors each received
      50,000 shares of unregistered common stock, $.0001 par value per share, for
      an
      aggregate of 100,000 shares of PDV (hereinafter, the “PDV Shares”) as well as
      the right to share in the revenues generated from the commercialization of
      the
      River Power Technology, all as provided in the Invention Transfer Agreement;
      and

    

    WHEREAS,
the
      Invention
      Transfer Agreement provides, mistakenly, through a cultural and language
      misunderstanding, that the shares are “registered,” but rather the Invention
      Transfer Agreement should have reflected their actual understanding that the
      PDV
      shares were not registered with the U.S. Securities & Exchange Commission
      (“SEC”), but that PDV would have an express obligation to register the PDV
      Shares with the SEC on a Form SB-2 for subsequent resale; and

    

    WHEREAS,
although
      legally satisfying the requirements of Regulation S, as promulgated under the
      Securities Act of 1933, as amended (the “Act”), the Invention Transfer Agreement
      lacked the express requisite representations and warranties necessary for a
      third party to render a legal opinion in connection with the issuance and
      delivery of the PDV Shares to the Inventors; and

    

    WHEREAS,
it
      is the
      Parties intention through the execution and delivery of this Amendment to
      confirm and clarify their prior understanding, although inartfully expressed
      in
      English in the Invention Transfer Agreement, that: (i) the PDV Shares were
      not,
      at the time of the execution and delivery of the Invention Transfer Agreement,
      registered were the SEC, but were being offered and sold to the Inventors
      pursuant to a registration exemption afforded by Regulation S, as promulgated
      under the Act; (ii) provide the express representations and warranties required
      for a third party to render a legal opinion regarding the issuance and delivery
      of the PDV Shares to the Inventors pursuant to Regulation S; and (iii) clarify
      that PDV would expressly undertake to register  the PDV Shares in the
      U.S. on a Form SB-2 for subsequent resale in the U.S.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    NOW,
      THEREFORE, in
      consideration of the premises and the mutual covenants and conditions herein
      contained, IT IS HEREBY AGREED that the Invention Transfer Agreement is herein
      modified as follows:

    

    1.           PDV
      Shares Issued and Sold to
      Inventors.  The Inventors acknowledge
      and agree that the PDV Shares issued and sold to them on May 24, 2007 were
      not
      registered under the Act in the United States, and that the PDV Shares were
      offered and sold to them in reliance upon the registration exemption provided
      by
      Regulation S, as promulgated under the Act.

    

    2.  
PDV
      Undertaking to Register the PDV Shares on a Form SB-2 at its Cost and
      Expense.  PDV confirms its undertaking
      and obligation to file a registration statement for the PDV Shares of the
      Inventors with the SEC on a Form SB-2, the costs and expenses of which
      registration statement shall be borne by PDV.  PDV will do all things
      that are commercially reasonable and within its power to cause the Form SB-2
      to
      be filed and to become effective and to permit the Inventors’ resale of their
      PDV Shares in the U.S. as soon as practicable.

    

    3.           Representations,
      Warranties and Covenants of the
      Inventors.  In connection with their
      purchase of the PDV Shares from PDV as provided in the Invention Transfer
      Agreement, the Inventors hereby, jointly and severally, acknowledge, represent,
      warrant and covenant to PDV and Vidatech that:

     

     (a)           the
      PDV Shares were offered and sold to the Inventors in reliance on the exemptions
      from the registration requirements of the Act provided by the provisions of
      Regulation S as promulgated under the Act, and that the PDV Shares may not
      be
      resold in the United States or to a US Person as defined in Regulation S, except
      pursuant to an effective registration statement or an exemption from the
      registration provisions of the 1933 Act as evidenced by an opinion of counsel
      acceptable to the Company, and that in the absence of an effective registration
      statement covering the PDV Shares or an available exemption from registration
      under the 1933 Act, the PDV Shares must be held indefinitely.  The
      Inventors further acknowledges that neither this Amendment nor the Invention
      Transfer Agreement is intended as a plan or scheme to evade the registration
      requirements of the Act;

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (b)           Each
      of the Inventors is a resident of the Republic of Hungary;

    

    (c)           None
      of the Inventors is a “US Person” as that term is defined in Rule 902 of
      Regulation S, as more fully set forth in Section 4 of this
      Amendment;

    

    (d)           Neither
      of the Inventors is, and on the date that they receive the PDV Shares will
      be,
      an affiliate of the Company;

    

    (e)           that
      all offers and sales of the PDV Shares shall be made in compliance with all
      applicable laws of any applicable jurisdiction and, particularly, in accordance
      with Rules 903 and 904, as applicable, of Regulation S or pursuant to
      registration of the PDV Shares under the Act or pursuant to an exemption from
      registration.  In any case, none of the PDV Shares have been and will
      be offered or sold by the Inventors to, or for the account or benefit of a
      U.S.
      Person or within the United States until after the end of a one year period
      commencing on the date on which this Amendment is accepted by the Company (the
      “Distribution Compliance Period”), except pursuant to an
      effective registration statement as to the PDV Shares or an applicable exemption
      from the registration requirements of the Act.

    

    (f)           The
      PDV Shares have not been offered to the Inventors in the United States and
      the
      decision to purchase the PDV Shares as well as the execution and delivery of
      this Amendment on behalf of the Inventors were not in the United States when
      such decisions were made and this Amendment was executed and
      delivered;

    

    (g)           None
      of the Inventors will engage in any activity for the purpose of, or that could
      reasonably be expected to have the effect of, conditioning the market in the
      United States for any of the PDV Shares; and

    

    (h)           None
      of the Inventors, nor any of their affiliates will directly or indirectly
      maintain any short position, purchase or sell put or call options or otherwise
      engage in any hedging activities in any of the Common Stock of the Company
      until
      after the end of the Distribution Compliance Period, and acknowledges that
      such
      activities are prohibited by Regulation S.”

    

    
      	
            	
              1.

            	
              A
                new Section 8s hereby added to the Agreement, which shall read, in
                its
                entirety, as follows:

            

    

    

    “8           Regulation
      S – Definition of US Person.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Rule
      902 (k)(1): "U.S. person" means:

     

    
      	
            	
              i.

            	
              Any
                natural person resident in the United
                States;

            

    

     

    
      	
            	
              ii.

            	
              Any
                partnership or corporation organized or incorporated under
                the laws of the United States;

            

    

     

    
      	
            	
              iii.

            	
              Any
                estate of which any executor or administrator is a U.S.
                person;

            

    

     

    
      	
            	
              iv.

            	
              Any
                trust of which any trustee is a U.S.
                person;

            

    

     

    
      	
            	
              v.

            	
              Any
                agency or branch of a foreign entity located in the United
                States;

            

    

     

    
      	
            	
              vi.

            	
              Any
                non-discretionary account or similar account (other than
                an estate or trust) held by a dealer or other fiduciary for the benefit
                or
                account of a U.S. person;

            

    

     

    
      	
            	
              vii.

            	
              Any
                discretionary account or similar account (other than an
                estate or trust) held by a dealer or other fiduciary organized,
                incorporated, or (if an individual) resident in the United States;
                and

            

    

     

    
      	
            	
              viii.

            	
              Any
                partnership or corporation
                if:

            

    

     

    
      	
            	
              A.

            	
              Organized
                or incorporated under the laws of any foreign
                jurisdiction; and

            

    

     

    
      	
            	
              B.

            	
              Formed
                by a U.S. person principally for the purpose of
                investing in securities not registered under the Act, unless it is
                organized or incorporated, and owned, by accredited investors (as
                defined
                in Rule 501(a)) who are not natural persons, estates or
                trusts.

            

    

     

     

    Rule
      902(k)(2):  The following are not "U.S. persons":

     

    
      	
            	
              i.

            	
              Any
                discretionary account or similar account (other than an
                estate or trust) held for the benefit or account of a non-U.S. person
                by a
                dealer or other professional fiduciary organized, incorporated, or
                (if an
                individual) resident in the United States;

            

    

     

    
      	
            	
              ii.

            	
              Any
                estate of which any professional fiduciary acting as executor or
                administrator is a U.S. person if:

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    
      	
            	
              A.

            	
              An
                executor or administrator of the estate who is not a U.S. person
                has sole
                or shared investment discretion with respect to the assets of the
                estate;
                and

            

    

     

    
      	
            	
              B.

            	
              The
                estate is governed by foreign law;

            

    

     

    
      	
            	
              iii.

            	
              Any
                trust of which any professional fiduciary acting as
                trustee is a U.S. person, if a trustee who is not a U.S. person has
                sole
                or shared investment discretion with respect to the trust assets,
                and no
                beneficiary of the trust (and no settlor if the trust is revocable)
                is a
                U.S. person;

            

    

     

    
      	
            	
              iv.

            	
              An
                employee benefit plan established and administered in
                accordance with the law of a country other than the United States
                and
                customary practices and documentation of such
                country;

            

    

     

    
      	
            	
              v.

            	
              Any
                agency or branch of a U.S. person located outside the
                United States if:

            

    

     

    
      	
            	
              A.

            	
              The
                agency or branch operates for valid business reasons;
                and

            

    

     

    
      	
            	
              B.

            	
              The
                agency or branch is engaged in the business of insurance or banking
                and is
                subject to substantive insurance or banking regulation, respectively,
                in
                the jurisdiction where located; and

            

    

     

    
      	
            	
              vi.

            	
              The
                International Monetary Fund, the International Bank for
                Reconstruction and Development, the Inter-American Development Bank,
                the
                Asian Development Bank, the African Development Bank, the United
                Nations,
                and their agencies, affiliates and pension plans, and any other similar
                international organizations, their agencies, affiliates and pension
                plans.

            

    

     

    Rule
      902(l):  United States. "United States" means the
      United States of America, its territories and possessions, any State of the
      United States, and the District of Columbia.

    

    
      	
            	
              2.

            	
              Except
                as amended by this Amendment, the remaining terms and provisions
                of the
                Invention Transfer Agreement remain
                unchanged.

            

    

    

    [The
      remainder of this page has been left blank intentionally.  The
      signature of the parties appear on the next succeeding
      page.]

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, each of the Company, Vidatech and the Inventors have
      executed this Amendment, agreeing to be bound by the terms hereof, as of the
      day
      and year first-above written.

    

    
      	 	
              POWER
                OF THE DREAM VENTURES, INC. 

            
	 	 	 
	 	 	 
	 	 	 
	 	
              By

            	    /s/
              Viktor Rozsnyay   
	 	
                   Name:

            	
                  Viktor
                Rozsnyay, President

            

    

     

     

    
      	
               

            	
              VIDATECH
                Kft 

            
	 	 	 
	 	 	 
	 	  
	
               

            	
              
                By

              

            	   
              /s/
              Daniel Kun, Jr.        
	 	
                    Name:

            	
                  Daniel
                Kun, Jr. Managing Director

            

    

    
 

    
      	
               

            	 INVENTORS:
	 	 	  
	 	 	  
	 	 	 
	
            	
                  /s/
                Viktor Salca  

            
	
               

            	
              
                Name:

              

            	    Viktor
              Salca 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
            	
                  /s/
                Janos Salca 

            
	
               

            	
              
                Name:

              

            	    
Janos
              Salca 

    

     

    6

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