Document:

exv10w34

 

Exhibit 10.34

ASSIGNMENT OF PATENT RIGHTS

     This Assignment of Patent Rights (the “Agreement”) is effective as of the 1st day of
September, 2003 (the “Effective Date”), by and between Adrian Menzell, an individual (“Assignor”),
and Save the World Air, Inc., a Nevada corporation with a principal place of business at 5125
Lankershim Blvd., North Hollywood, California 91601 (“Assignee”).

     WHEREAS, Assignor has filed a Provisional Patent Application in Australia entitled,
“Improvements in or Relating to Emission Control Systems” attached hereto as Exhibit A (the
“Provisional Patent Application”);

     WHEREAS, Assignor is the owner of all right, title and interest in and to the patent described
in the Provisional Patent Application and all corresponding U.S. and foreign patents and patent
applications, including, but not limited to, those specified in Schedule A attached hereto
(the “Patent Rights”);

     WHEREAS, Assignor desires to assign and Assignee desires to acquire, the entire and exclusive
right, title and interest in and to the Patent Rights and the underlying inventions described
therein, in Australia, the United States and throughout the world; and

     WHEREAS, Assignor is willing to assign to Assignee all rights, title and interest in and to
the Patent Rights and the underlying inventions described therein in Australia, the United States
and throughout the world, subject to the terms and conditions of this Agreement.

     NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged
by Assignor, Assignor hereby irrevocably assigns, transfers and conveys to Assignee, and Assignee
hereby accepts, all of Assignor’s right, title and interest throughout the world in and to the
Patent Rights, the underlying inventions described therein and all existing and future design
modifications and improvements thereon, and any and all patent applications whether U.S. or foreign
that are or may be granted therefrom including without limitation any extensions, continuations,
continuations-in-part, divisions, reissues, reexaminations, and renewals thereof, or other
equivalents thereof, and further, all rights and privileges pertaining to the Patent Rights and any
and all patent applications thereof whether U.S. or foreign that are or may be granted therefrom
including, without limitation, the right, if any, to sue or bring other actions for past, present
and future infringement thereof.

     Assignor further assigns to and empowers Assignee, its successors, assigns or nominees, all
rights to make applications for patents or other farms of protection for said inventions, design
modifications and improvements and to prosecute such applications as well as to claim and receive
the benefit of the right of priority provided by the International Convention for the Protection of
Industrial Property, as amended, or by any convention which may henceforth be substituted for it,
and the right to invoke and claim such right of priority without further written or oral
authorization.

     Assignor further agrees that Assignor will, with out charge to Assignee, but at Assignee’s
expense (a) cooperate with Assignee in the prosecution of U.S. patent applications and foreign
counterparts on the invention and any design modifications and improvements; b) execute,

 

 

verify, acknowledge and deliver all such further papers, including patent applications and
instruments of transfer; and (c) perform such other acts as Assignee lawfully may request to
obtain, maintain, defend or enforce patent applications and patents for the inventions, design
modifications and improvements in any and all countries, and to vest title thereto in Assignee, or
Assignee’s successors and assigns.

     In the event that Assignee is unable for any reason whatsoever to secure Assignor’s signature
to any document it is entitled to under the preceding paragraph, Assignor hereby irrevocably
designates and appoints Assignee and its duly authorized officers and agents, as his agents and
attorneys-in-fact to act for and on his behalf and instead of him, to execute and file any such
document and to do all other lawfully permitted acts to further the purposes of the foregoing with
the same legal force and effect as if executed by Assignee.

     Assignee shall reimburse Assignor for all costs and expenses (including legal fees) incurred
by Assignor in preparing and filing the Provisional Patent Application up to US$10,000.00. Assignee
shall also make a one-time issuance to Assignor of 20,000 shares of the Company’s common stock,
which shall be issued to Assignor after he has filed the Provisional Patent Application. Assignee
shall further pay a royalty fee of $US0.25 per unit, or product within the scope of the Patent
Rights (“Unit”), sold. Royalties due under this agreement shall be payable quarterly on a
country-by-country basis until (i) the expiration of the last-to-expire issued patent included
within the Patent Rights that has not been held invalid in a final decision of a court of competent
jurisdiction, and that has not been disclaimed or admitted to be invalid or unenforceable through
reissue or otherwise, covering such Unit in such country or (ii) if no such patent has issued in a
country, until the tenth anniversary of the first commercial sale of a Unit in such country.
Assignee shall keep and maintain complete and accurate records of the transactions for the purpose
of determining the royalty amounts payable under this Agreement. Such books and records shall be
kept at the principal place of Assignee’s business for at least five (5) years following the end of
the calendar quarter to which they pertain and will he made available to Assignor, or its
representative, for inspection during ordinary business hours, no more than once every twelve (12)
months. If any such examination shall disclose any deficiency of five percent (5%) or more,
Assignee shall pay, in addition to such deficiency, the reasonable costs of such examination.

     Notwithstanding any provision to the contrary herein, Assignee shall promptly provide notice
to Assignor of each country for which Assignee intends to file patent applications corresponding to
the Patent Rights, but in no event less than ninety (90) days prior to the expiration of the
deadline for filing such applications under applicable international law, If
Assignee does not intend to file patent applications. Assignor may elect, at its sole cost and
expense, to have Assignee file patent applications in any such country for which Assignee does not
intend to file patent applications, provided that Assignor provides prior notice to Assignee no
later than sixty (60) days prior to the filing deadline and advances the attorneys’ fees, costs and
expenses of such filings anticipated by Assignee. In such event, Assignee will provide to Assignor
a non-exclusive, non-transferable license under the Patent Rights to manufacture, market and sell
products that embody the inventions described in the Patent Rights for those countries, subject to
customary restrictions regarding quality assurance, trademark use, protection against gray market
sales, and patent marking provisions of the intellectual property laws of the applicable countries
in which the products are manufactured, distributed or sold.

 

 

Assignor may not sublicense the rights granted in this Agreement. In the event that Assignee
abandons the patent applications, the Patent Rights may revert back to Assignor upon Assignor’s
reimbursement of Assignee’s costs and expenses (including legal fees) incurred in connection with
the patent applications. Assignee agrees to use reasonable commercial efforts to diligently file
patent applications, unless pursuit and protection of the patent applications may infringe on other
patents or be disputed, or Assignee determines, in its sole discretion, that the products cannot
feasibly be manufactured, marketed or sold.

     Except as expressly provided herein, each party agrees not to disclose any terms of this
Agreement to any third party without the consent of the other party; provided,
disclosures may be made as required by securities or other applicable laws, or to actual or
prospective corporate partners, or to a party’s accountants, attorneys and other professional
advisors.

     The parties further agree that, upon execution of this Agreement, the Consulting Agreement,
attached hereto as Exhibit B and incorporated herein by reference, shall be the controlling
agreement between the parties.

     This Agreement shall be governed by and enforced in accordance with the laws of the State
of California and the United States of America, without giving effect to any
conflicts of law principles.

     This Agreement shall be binding on, and shall inure to the benefit of, the parties hereto and
their respective successors and assigns.

     Each party represents that it has taken all necessary action to authorize the execution and
delivery of this Agreement.

     This Agreement may be executed in any number of counterparts, each of which shall be deemed to
be an original, and all such counterparts when taken together shall be deemed to be but one and the
same instrument.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective duly authorized officers, as of the Effective Date.

	 	 	 	 	 
	ADRIAN MENZELL:

	 	SAVE THE WORLD AIR, INC.:
	 
	 	 	 	 
	/s/ ADRIAN MENZELL

	 	By:
	 	/s/ EUGENE E. EICHLER
	 

	 	 	 	 
	

	 	Title: Chief Operating Officer
	

	 	Date: February 24, 2004

 

 

On this 24th day of February, 2004, before me appeared Eugene Eichler and
Adrian Menzell, the person who signed this instrument, who acknowledged that he/she signed it as a free act on
his/her own behalf or on behalf of the Assignor with authority to do so.

	 	 	 	 	 	 	 	 	 
	State of California

County of Los Angeles

	 	)

)

)
	 	
ss.
	 	[PRISICILLA HARRIET DEVORE

Commission # 1279247

Notary Public – California

Los Angeles County

My Comm. Expires Oct. 30, 2004]

/s/ Priscilla Harriet Devore

	 	 
	

	 	 	 	 	 	 	 	 

 

 

Exhibit A

Provisional Patent Application

 

 

Exhibit B

Consulting Agreement

[agreement not entered
into]

 

 

Schedule A

List of Patent Applications for Menzell Patentexv10w35

 

EXHIBIT 10.35

GLOBAL DEED OF ASSIGNMENT

BETWEEN Adrian Menzell

27 Park Avenue, Broadbeach, 4218, Queensland, Australia

(the “Assignor”)

	AND   	SAVE THE WORLD AIR, INC.

A Nevada Corporation of 5125 Lankershim Blvd., North Hollywood, California 91601 USA

(the “Assignee”)

RECITALS

	A.  	The Assignor is the inventor of Improvements in or Relating to Emission Control Systems (the
“Invention”) forms of which are described in Australian Patent Applications

	 	 	 	 	 
	Appn No.	 	Title	 	Filed
	2003902450

	 	Improvements in or Relating to Emission Control Systems
	 	20May03
	2003904515

	 	Improvements in or Relating to Emission Control Systems
	 	21Aug03
	2003904811

	 	Improvements in or Relating to Emission Control Systems
	 	4Sep03
	2004900084

	 	Improvements in or Relating to Emission Control Systems
	 	8Jan04
	2004900192

	 	Improvements in or Relating to Emission Control Systems
	 	16Jan04
	2004903000

	 	Inline Exhaust Device to Improve Efficiency of a
Catalytic Converter
	 	4Jun04

     (the “Applications”).

	B.  	The Assignor has agreed to assign to the Assignee and the Assignee desires to take assignment
of any and all the rights, title and interest of the Assignor in and to the Invention and the
Applications on a world wide basis.

THIS DEED WITNESSES

	1.  	The Assignor assigns to the Assignee all rights, title and interest in and to the Invention
and the Applications including, but without limitation:

	 	(a)  	all rights, title and interest in and to any Patent or Patents
which may be granted on the Invention and/or the Applications in any and all
countries in the world including, but without limitation, the U.S.A.,
Australia, Europe, Japan, Canada and China, including rights to sue in
respect of any infringement of any such Patent or Patents from the date
when the Applications becomes or became open for public inspection, for the full term of any such Patent or

 

 

	 	   	Patents together with any extension of the term of any such Patent or Patents
as may be granted;
	 
	 	(b)  	all rights and powers such as subsist at the date of this Deed,
to make one or more further applications for Letter Patent or other form of
protection in the name of the Assignee in any country, region or part of the
world including, but without limitation, the USA, Australia, Europe, Japan,
Canada, China, and for an International patent application(s) in respect of the
Invention, and all rights, title and interest in and to any Letters Patent or
other form of protection to mature from any such applications for the full term
thereof together with any extension of term of any such Patent or Patents or
any other form of protection as may be granted.
	 
	 	(c)  	All other rights including copyright.

	2.  	The Assignor agrees to cooperate and do all things necessary and to sign, execute and deliver
all necessary documents, forms and papers to be produced or obtained by the Assignee in
connection with any applications for Letters Patent or other form of protection for the
subject matter of the Invention, in Australia or elsewhere, but at the cost of the Assignee.

EXECUTED as a DEED. on the 26th day of June 2004

	 	 	 	 	 
	 	 	 
	SIGNED	/s/ Adrian Menzell
 	 
	 	Adrian Menzell    	 
	Witness	 	 
	 

	 	 	 	 	 
	SIGNED	 	 
	SAVE THE WORLD AIR, INC.
	                                 /s/ Eugene E. Eichler
 	 
	 	Eugene E. Eichler 	 
	Witness

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