AGREEMENT LETTER
Published on January 13, 2009
Temple
University
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Office
of Technology Transfer
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phone
215-204-5732
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1601
North Broad Street
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fax
215-204-7486
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|
|
406
University Services Building (083-45)
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web
www.patents.temple.edu
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Philadelphia,
PA 19122-6099
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Sent Via
E-mail
Confirmation
via UPS
January
9, 2009
Mr. Cecil
Bond Kyte
Chairman
Save the
World Air, Inc.
235
Tennant Avenue, Suite 5
Morgan
Hill, California 95037
Dear Mr.
Kyte:
Temple.
University (Temple) hereby grants to Save the World Air, Inc. (STWA) an
extension to the cure period ("Cure Period") resulting from the Notices of
Breach issued to STWA on November 10, 2008 for the agreements between Temple and
STWA ("Agreements') as defined below:
a) License
Agreement between Temple and STWA effective July 1, 2004 for 'Method and
Apparatus for Treatment of a Fluid' (Temple Agreement Ref.: 443).
b) License
Agreement between Temple and STWA effective February 2, 2007 for 'Method for
Reduction of Crude Oil Viscosity' (Temple Agreement Ref.: 510).
c) License
Agreement between Temple University and Save the World Air, Inc. effective
February 2, 2007 for 'Electric Field Assisted Fuel Injection System' (Temple
Agreement Ref.: 509).
d) Research
Agreement between Temple University and Save the World Air, Inc.
effective February 2, 2007 pertaining to the effect of electric fields on fuel
droplet size and to the effect of electric fields on crude oil viscosity (Temple
Agreement Ref.: 507).
The Cure
Period extension expires on March 31, 2009 and shall be contingent upon the
following payment schedule ("Payment Schedule"):
a) $100,000
received by Temple from STWA on or before January 31, 2009.
b) $100,000
received by Temple from STWA on or before February 28, 2009.
c) $100,000
received by Temple from STWA on or before March 31, 2009.
d) All
payments regarding past due amounts, with the exception of the prescribed
payments, will, be renegotiated on or before March 31, 2009. A penalty
equal to one percent (1%) of the amount due and unpaid on the first day of each
calendar month shall be added to the outstanding amount due.
Temple
University
Mr. Cecil
Bond Kyte
Page
2
January
9, 2009
STWA's
failure to cure the breach during the Cure Period and according to Payment
Schedule shall result in immediate termination of Agreements unless otherwise
agreed upon in writing by both parties.
We look
forward to resolving these matters and continuing our partnership to bring these
important technologies to market. Please contact me at your earliest convenience
with any questions.
Sincerely,
/s/
Stephen G. Nappi
Stephen
G. Nappi
Director
of Technology Transfer Operations TEMPLE UNIVERSITY
Acknowledged
and agreed by:
SAVE THE
WORLD AIR, INC.
/s/
Cecil Bond Kyte
Cecil
Bond Kyte
Chairman
of the Board
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