EXHIBIT 4.1
LETTER AGREEMENT
FOR
GRANT OF TECHNOLOGY LICENSE
This Agreement, made on October
15 2004, between Solflex Energy Development Corp. ( hereinafter
“ Licensor ”) and Alternet Systems Inc. ( hereinafter
“ Licensee ” ).
WITNESSETH
In consideration of the mutual
promises hereinafter made by each to the other, Licensor and
Licensee agrees as follows
1. GRANT OF LICENSE
The Licensor herby grants the licensee an exclusive license for
North America and South America to sell the licensor’s
proprietary solar panel. The Licensor also grants the Licensee an
Option to complete a merger of both companies, on mutually
agreeable terms, for a period of 12 months from signing of the
License Agreement.
2. PAYMENT TO
LICENSOR
Licensee will pay licensor $1.20 US per watt sold. Licensee will
commit to invest in equity of Solflex:
A). $170,000 currently held in
trust by Solflex, within 14 days of signing License
agreement
B). $330,000 on Nov 15 , 04
towards payment of machine and operation and manufacturing when
delivered to Solflex office in Richmond B.C.
The payment of the above $500,000
will be the consideration for the purchase of a 25% undiluted
voting shares for an equity position in Solfex, and the granting of
the License and Option.
3. PERFORMANCE
Licensee will sell a minimum $1,000,000 in solar panels within 2
years of commencement of commercial production of the Solflex solar
panels, to maintain license in good standing. After
minimum
