Lithium Technology Corp. 8-K
Exhibit
10.48
BUSINESS CONSULTANT AGREEMENT
This Business
Consultant Agreement (“Agreement”) is made and
effective this September 25, 2009,
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Steenbergh
Management B.V. (the
“Consultant”), a corporation organized and existing
under the laws of the Netherlands, with its head office located at:
Duin en Daal seweg 38, 2061 AH Bloemendaal, the
Netherlands
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Lithium
Technology Corporation (the “Company”), a corporation
organized and existing under the laws of the State of Delaware,
with its head office located at: 5115 Campus Drive, Plymouth
Meeting, PA 19462, United States.
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WHEREAS, the Company desires to receive certain
consulting services from the Consultant; and
WHEREAS, the Consultant desires to provide those
consulting services to the Company pursuant to the terms of this
Agreement;
NOW, THEREFORE, in consideration of the mutual
covenants set forth herein and intending to be legally bound, the
parties hereto agree as follows:
1. CONSULTATION
SERVICES
The Company
hereby engages the Consultant to perform the following services
(the “Services”) in accordance with the terms and
conditions set forth in this Agreement: The Consultant
will consult with the directors, officers and employees of the
Company concerning matters relating to the management and
organization of the Company, its financial policies, the terms and
conditions of employment of the Company’s employees, and
generally any matter arising out of the business affairs of the
Company. The Services will be performed by Christiaan A.
van den Berg, an employee of the Consultant.
2. TERMS
OF AGREEMENT
This term of
this Agreement will begin on the date hereof and will end on
December 31, 2010. Either party may terminate this
Agreement on 60 days’ notice to the other party in writing,
by certified mail or personal delivery, provided that in the case
of a termination by the Company of such termination of this
Agreement has been approved by a majority of the Directors of the
Company not including Christiaan A. van den Berg. Upon
termination of this Agreement or expiration of the term
hereof: (a) each party shall remain liable to the other
for any breach of this Agreement prior to such expiration or
termination; and (b) the Consultant will be entitled to all amounts
due from the Company under this Agreement up to the date of
termination or expiration. The provisions of Sections 6,
7, 8, 9 and 10 of this Agreement, as well as any other provisions
of this Agreement applicable thereto, shall survive any termination
or expiration of this Agreement.
3. TIME
DEVOTED BY CONSULTANT
It is
anticipated the Consultant will spend approximately eight hours per
week in fulfilling its obligations under this
Agreement. The particular amount of time may vary from
day to day and from week to week. However, the Consultant shall
devote a minimum of 32 hours per month to its duties under
this Agreement.
4. PLACE
WHERE SERVICES WILL BE RENDERED
The Consultant
will perform most Services at a location to be determined in
Consultant’s sole discretion. In addition, the
Consultant will perform Services by telephone and at such other
places as reasonably necessary to perform the Services.
5. PAYMENT
TO CONSULTANT
The Company
will pay the Consultant a flat monthly fee of € 4,167 as
consideration for the Services. The Services will be invoiced
monthly in advance and the Company shall pay the amounts so
invoiced within 15 days of receipt of the invoice. The
Company will also reimburse the Consultant for the reasonable
out-of-pocket expenses incurred by the Consultant in the provision
of the Services. Promptly after the end of each calendar
month, the Consultant will submit an itemized monthly statement
setting the
