EXHIBIT 10.3
Amendment No. 4
Schedule
This Agreement is effective as of the last date signed below and is by and
between The Regents of the University of California, (hereinafter referred to as
"UNIVERSITY") and Pacific Fuel Cell Corporation, hereinafter referred to as
"SPONSOR".
This Amendment No. 4 revises Agreement No. YANPFC/20020867/02 dated August 21,
2002 and removes section III. as amended March 10, 2003 in Amendment No. 1, May
4, 2004 in Amendment No. 2 and June 10, 2005 in Amendment No. 3, between
UNIVERSITY and SPONSOR and replaces it with the following:
III. Maximum Amount and Payment
UNIVERSITY acknowledges the following payments from SPONSOR: $70,000.00 on
August 21, 2002, $61,266.00 on March 17, 2003 and $50,005.00 in May of 2004
totaling $181,271.00.
The additional two payments totaling $100,481.00 shall be paid as follows:
$50,229.00 to be paid upon execution of this Amendment and $50,252.00 to be
paid on or before January 31, 2007. Additionally the supplemental funding
amount of $35,395.00 shall be paid on or before February 28, 2007.
All other terms and conditions remain unchanged.
IN WITNESS WHEREOF, THE PARTIES HERETO CAUSED THIS Amendment to be executed by
their duty authorized representatives as of the last date and year written
below:
SPONSOR: UNIVERSITY:
PACIFIC FUEL CELL CORPORATION THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
By: s/▇▇▇▇▇▇ Suzuki By: s/▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Signature Signature
Name: ▇▇▇▇▇▇ Suzuki Name: ▇▇▇▇▇▇▇ ▇. Paris
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Title: President Title: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Pr. C&G Officer
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Date: October 9, 2006 Date: 10/13/06
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