Translation from the German into the English Language
Exhibit 6.21
Page 1 of 2
Loan Contract
Mrs. ▇▇▇▇▇ Witkewitz
Schreckenweg 1
85658 Egmating
hereafter referred as the Lender
and the
iQ BATTERY Research & Development GmbH
▇▇▇▇▇▇▇▇▇▇▇▇▇. ▇
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
hereafter referred to as the Borrower
Sec. 1
Loan
The Lender has extended to the Borrower a loan in amount of DM 60,000.00 on
27.12.1996 from sale of business shares of nominal value DM 6,000.00.
Sec. 2
Interest
The loan carries annual interest of 3% above the existing bank rate of the
German Bundesbank. The interest is to be payable annually by January 31 of the
following year for the past calendar year.
Sec. 3
Termination
The loan may be terminated within six months after quarter of a calendar year,
however not earlier than December 31, 1998.
The Lender has right for termination only when in the relations between the
Borrower and the Lender disadvantageous circumstances were created, which upon
assessment of general business conditions justify termination. The termination
requires a written notice.
Page 2 of 2
Sec. 5
Premature Repayment
The Borrower is entitled to premature repayment of the loan at any time.
Munich, 28.12.96
. . . . . . . . . . . . . . . . . . . . . . . . .
Place, date Signature ▇▇▇▇▇ Witkewitz
Munich, 28.12.96
. . . . . . . . . . . . . . . . . . . . . . . . .
Place, date Signature iQ BATTERY