Document:

exv10w20

Exhibit 10.20

XT250 Pilot Program Agreement

Between

Pfizer Inc and XStream Systems Inc.

This will confirm the Pilot Program Agreement between Pfizer Inc, a Delaware corporation with
principal offices in New York, NY, of, (hereinafter referred to as Pfizer) as an independent Pilot
Test site for XStream Systems, a Delaware corporation with principal offices in Sebastian, FL
(hereinafter referred to as “Company”), and allow the Company to place their technology in Pfizer’s
Memphis, TN facility to demonstrate the effectiveness of their XT250 Material Identification
System. The pilot period for product research is for 120 days with the possibility of a 60 day
extension starting August 24, 2009 under the following terms and conditions:

	1.	 	Pfizer will provide the Company the adequate resources to successfully complete the agreed
upon goals and objectives of the independent Pilot.
	 
	2.	 	Pfizer will provide the Company adequate and appropriate space for the setup of their pilot
instrument including one heavy duty table.
	 
	3.	 	The Company will provide one XT250 Material Identification System (hereinafter referred to as
the “Unit”), one barcode scanner, one printer, and one UPS system (hereinafter “the
Peripherals”).
	 
	4.	 	Pfizer will allow the Company communication access to the Unit remotely through a
dedicated secure internet connection.
	 
	5.	 	Pfizer will provide employees of the Company reasonable supervised access into the facility
during normal work hours (M-F 8am – 

5pm) for the installation process.
	 
	6.	 	Employees of the Company will follow approved material handling procedures required by Pfizer.
	 
	7.	 	Pfizer will allow the unit to be run 24/7 during the install time period.
	 
	8.	 	After 120 days, or 180 days if Pfizer elects to extend the contract, unless this contract is
terminated earlier, Pfizer will have the option to assume full ownership of the Unit and
Peripherals for a discounted price of $139,900. This sale will include a one year warranty
covering all labor and parts. Upon transference of ownership, this contract will terminate. In
the event of contract termination, Company will remove the Unit and Peripherals at a time of
mutual convenience at no cost to Pfizer.
	 
	9.	 	This contract may be terminated by either party for any reason. Termination notice shall
be in writing. Upon termination the Company shall remove the Unit and peripherals within
ten (10) days.
	 
	10.	 	During the term of this contract, the Company will assume all responsibilities and costs for
maintenance, repair, and servicing of the Unit and the Peripherals.
	 
	11.	 	Pfizer employees will be provided with an awareness training session to cover all
aspects of the technology and operation of the Unit and if necessary, the
Peripherals.
	 
	12.	 	The Company warrants that all permits, licenses, and regulatory approvals applicable to the
Unit have been obtained and are held in good standing. The Company
will be responsible for all
federal, State, and local filings and paperwork necessary to install the Unit at Pfizer’s
facility.
	 
	13.	 	The Unit will be owned by the Company, and Pfizer will not be liable for any damage to
the Unit or its Peripherals incurred, or harm to the Company’s employees while present,
at Pfizer’s facilities.

CONFIDENTIAL

XSTREAM SYSTEMS AND PFIZER AGREEMENT

1

 

	14.	 	There is no obligation or commitment on the part of Pfizer to endorse the Unit or the Company.
	 
	15.	 	The Company will conduct research on substances of importance to Pfizer that are listed on
the attached Exhibit 1 which may be supplemented by Pfizer from time to time within the term
of this Agreement, and develop Material Recognition Software Engine (MRSE) signatures on
substances to be delivered with the unit and additional MRSE signatures on substances of
Pfizer’s choosing, samples of which to be delivered to Pfizer within 60 days of the Unit’s
installation.
	 
	16.	 	Pfizer will provide on loan, access to the initial MRSE substances as soon as possible to
the Company so that these substances may be included in the Pilot.
	 
	17.	 	Neither party may transfer, assign, or sell this agreement may not be transferred, sold or
assigned to any other individual, corporation, partnership or joint venture without the
other’s prior approval, which shall not be unreasonably withheld.
	 
	18.	 	This agreement is being made by each of the parties after each party has had an
opportunity to fully review, analyze, and obtain legal counsel with respect to this
agreement and all of its terms.
	 
	19.	 	The parties acknowledge that nothing in this agreement is intended to create a relationship
other than that of independent contractor (Company) and its customer (Pfizer).
	 
	20.	 	This agreement forms the entire understanding between the parties.
	 
	21.	 	There shall be no change, amendment or modification of any of the terms of this agreement
unless it is reduced in writing and signed by both parties.
	 
	22.	 	This agreement shall be governed by the laws of the State of New York.

	 	 	 	 	 	 	 
	XSTREAM SYSTEMS, INC.	 	PFIZER INC
	 
	 	 	 	 	 	 
	/s/ Patricia A. Earl	 	/s/ Patrick Ford
	 	 	 
	By:

	 	Patricia A. Earl
	 	By:	 	Patrick Ford 
	Title:

	 	V.P. Business Development
	 	Title:
	 	Sr. Director
	Date:

	 	September 8, 2009
	 	Date:
	 	9/8/09

CONFIDENTIAL

XSTREAM SYSTEMS AND PFIZER AGREEMENT

2exv10w21

Exhibit 10.21

LETTER OF INTENT

XSTREAM SYSTEMS AND EASTMAN KODAK COMPANY COLLABORATION AGREEMENT

This Letter of Intent dated September 23, 2009, confirms the intended relationship between XStream
Systems, Inc. (XSI) and Eastman Kodak Company (Kodak) (the “LOI”). Both parties agree to negotiate
the details of the intended collaboration agreement and attachments on or before October 30, 2009
in a definitive agreement signed by both parties. The conditions of this Letter of Intent are to be
kept strictly confidential between XSI and Kodak under a Non-Disclosure Agreement executed by
parties.

This Letter of Intent summarizes the following principles which are not intended to be binding
unless and until the parties execute any definitive Agreement(s) in form and substance satisfactory
to both parties, but which are to form the basis of the negotiation in good faith of such
definitive agreement(s):

	 	1)	 	Kodak and XSI agree to hold a planning meeting in September or in the first two weeks
of October 2009, to develop a plan detailing the following points:

	 	a)	 	List of immediate joint sales prospects with near term potential of purchasing
an integrated Kodak/XSI security solution
	 
	 	b)	 	Areas of responsibility for Kodak and for XSI

	 	2)	 	Both parties to investigate the licensing possibilities of cross marketing products
	 
	 	3)	 	Both parties to investigate the possibility of co-marketing their products to customers
desiring Transit Security Authority (TSA) certification of their own site as a Certified
Cargo Screening Facility.
	 
	 	4)	 	Kodak may provide XSI with Kodak Corporate Engineering contacts that XSI as a
potential resource for new XSI product development
	 
	 	5)	 	Kodak to have the opportunity to visit XSI to observe a setup representative of current
product instrumentation.
	 
	 	6)	 	XSI agrees to execute a definitive agreement to exclusively purchase Kodak product(s)
under terms and conditions to be mutually agreed upon by the parties.

This Letter of Intent sets forth certain non-binding understandings between XSI and Kodak. It
reflects and summarizes the mutual understandings of parties’ discussions to date and does not
constitute a complete statement of or a legally binding agreement with respect to any term

 

 

or condition nor does it impose on either party an enforceable obligation to negotiate towards an
agreement.

This LOI is made under and shall be construed according to the laws, other than choice of law
provisions, of the State of New York.

Neither party makes any representations or warranties, expressed or implied, of any kind including
without limitation, with respect to the accuracy or completeness of any oral or written
information, data or disclosure delivered to the other party. Any representations or warranties
shall be made, if at all, only in definitive written agreements that may be entered into hereafter
with respect to the potential cooperation under discussion.

This LOI may not be modified, amended or waived except by a written instrument duly executed
by both parties.

The exchange of confidential information hereunder will be governed by the terms and conditions of
the Confidential Disclosure Agreement between the parties having an Effective Date of August 3,
2009, and any other confidentiality agreements executed during the term of this LOI between the
parties,.

Without prejudice to the other conditions precedent that the parties may agree to include in any
definitive agreement, it is expressly understood that the definitive agreement(s) shall only become
legally binding and enforceable upon the parties after both parties have obtained the proper
internal signature(s) and approval(s) in that respect and after all necessary governmental,
administrative or any other consent(s), approval(s) or clearance(s) have been obtained. The parties
will use reasonable commercial efforts to negotiate in good faith and, subject to the completion of
successful negotiations, execute the definitive Agreement(s) by October 30, 2009. Notwithstanding
anything in this LOI to the contrary, this LOI shall not be deemed to create any agreement that the
parties will ultimately agree on or execute any definitive agreement(s).

Neither party shall have any obligation to enter into any further agreement with the other party
except as it, in its sole judgment, may deem advisable. It is understood and accepted by and
between the parties that any binding understanding and/or agreement regarding the potential
business relationship between them will be subject to the evaluation of legal compliance issues
and, as the case may be, to approvals of competent authorities internally and/or externally. It is
understood that no patent, copyright, trademark or other proprietary right or license is granted by
this LOI.

Neither of the parties shall assign, or transfer, either in whole or in part, this LOI or any of
its rights, duties or obligations hereunder to any person or entity, without prior express approval
of the other party.

 

 

In the event that any one or more of the provision(s) contained in the LOI be held invalid, illegal
or unenforceable in any respect, the validity, legality and enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired thereby. In such case, the
parties shall negotiate in good faith such amendments to this LOI as may be reasonably required to
overcome such invalid provision(s).

This LOI constitutes the complete and entire understanding and agreement among the parties with
respect to its subject matter and cancels and supersedes any previous understanding or agreement
among them regarding said matter.

Nothing in this LOI shall be deemed to create a partnership or agency between the parties hereto
nor to entitle either of the parties to act on behalf of the other party.

Neither party shall incur any liability by reason of having not realized the cooperation
contemplated by this LOI.

This LOI shall be effective as of the date first written above, and shall continue in effect until
either party gives written notice to the other party of its decision to terminate this LOI which
written notice shall not occur before October 30, 2009. Upon such termination, each party’s
obligations under this LOI shall cease; provided however, that each party’s confidentiality
obligations shall survive termination according to the terms of any relevant confidentiality
agreements.

Please review, sign and date the Letter of Intent to confirm our mutual understandings and return a
signed copy to Patricia A. Earl at p.earl@xstreamsystems.net.

	 	 	 	 	 	 	 
	AGREED TO AND ACCEPTED:	 	 	 	 
	 
	 	 	 	 	 	 
	XSTREAM SYSTEMS, INC.	 	EASTMAN KODAK COMPANY
	 
	 	 	 	 	 	 
	By:

	 	/s/ Patricia A. Earl
	 	By:
	 	/s/ Robert Taylor
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	 V.P. Business Development
	 	Title:
	 	G. M. KODAK SECURITY SOLUTIONS
	 
	 	 	 	 	 	 
	Date:

	 	August 31, 2009
	 	Date:
	 	28 Sept. ’09

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