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1
EXHIBIT 10.an
PARTNERSHIP
AGREEMENT
SECTION 1
NAME AND SEAT OF THE
COMPANY
(1) The name of the
Company is
SBS or Industrial
Computers GmbH & Co. KG
(2) The seat of the
Company is Augsburg.
SECTION 2
PURPOSE OF THE
COMPANY
(1) The purpose of the
Company is the development, manufacturing and sale of
electronic
instruments (hard- and software).
(2) The Company may
undertake all activities which are necessary or appropriate
to further the
purpose described above. The Company can establish or
acquire branch
offices or subsidiaries inside or outside of Germany.
SECTION 3
DURATION AND
BUSINESS YEAR
(1) The Company
comes into existence with registration with the commercial
register. The
Company is of unlimited duration.
(2) The business
year starts on July 1st of a calendar year and ends on June
30th of the
following year.
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SECTION 4
GENERAL PARTNER'S
CAPITAL CONTRIBUTION
The general partner
is SBS or Industrial Computers Verwaltungs GmbH in Augsburg,
at present ADMINI 23
(XXIII) Vermogensverwaltungs GmbH, registered with the
commercial register
of Cologne under HRB 30622. It does not pay any capital
contribution and has
no share in capital.
SECTION 5
LIMITED PARTNER'S
CAPITAL CONTRIBUTION
(1) The Company's
capital amounts to DM 100,000.00 (in words: Deutsche Mark one
hundred thousand).
The sole limited partner is SBS Technologies Holding
GmbH with seat in
Augsburg, having a share in capital and a liability
capital of DM
100.000,00; this amount is being registered with the
commercial register.
(2) The limited
partner's capital contribution is covered by its share in the
equity in the
transformed SBS or Industrial Computers GmbH.
The difference
between the amount of the limited partner's equity in the
GmbH (subscribed
capital plus capital reserve and revenue reserve, annual
profit and profit
carried forward minus annual deficit and loss carried
forward) and the
limited partner's capital contribution in the limited
partnership will be
credited to the reserve account of the limited partner
in proportion to its
share in SBS or Industrial Computers GmbH.
SECTION 6
ACCOUNTS
(1) The following
accounts are kept for each shareholder:
- capital account
- reserve account
- current account
(2) The share in
capital of a shareholder shall be entered in the capital
account. The capital
account of a limited partner corresponds to his
liability capital
being registered with the commercial register.
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(3) Capital
contributions - based on this partnership agreement or a partners'
resolution - which
are not entered in the capital account as well as losses
which are allocated
to the shareholder shall be entered in the reserve






