POLAR MOLECULAR HOLDING CORP
TOTALFINAELF ADDITIVES JOINT MARKETING AGREEMENT
<DOCUMENT>
<TYPE>EX-10.44
<SEQUENCE>6
<FILENAME>dex1044.htm
<DESCRIPTION>TOTALFINAELF ADDITIVES JOINT MARKETING AGREEMENT
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<TITLE>TotalFinaElf Additives Joint Marketing Agreement</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>MARKETING AGREEMENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This Marketing Agreement (this &#147;Agreement&#148;) is made as of this <U>11</U> day of <U>September</U>, 2001 (the &#147;Effective
Date&#148;) between POLAR MOLECULAR CORPORATION, a Delaware corporation having its principal place of business at 4600 S. Ulster Street, Suite 700, Denver, Colorado 80237, USA, (&#147;PMC&#148;), and ELF ANTAR FRANCE, a French corporation having its
principal place of business at 24, cours MICHELET, 92800 PUTEAUX, FRANCE (&#147;ELF&#148;) </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>RECITALS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">A.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">PMC has developed and is currently marketing the Duralt<FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><SUP>&reg;<FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"></FONT></SUP><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"></FONT></FONT> FC additive technology for gasoline and diesel fuel which is designed to reduce octane requirement increase and combustion chamber deposits in gasoline
engines, to act as a substitute for lead in gasoline, and to improve combustion in diesel fuels. The Duralt<FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><SUP>&reg;<FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"></FONT></SUP><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000"></FONT></FONT> FC additive technology, together with all improvements thereto, now existing or hereinafter made or acquired by PMC are herein called the &#147;PMC Additive technology&#148;.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">B.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">ELF has developed gasoline and diesel fuel detergent additives and multipurpose package technology for the global gasoline and diesel fuel market. Such existing ELF additive and
package technology, together with all improvements thereto, now existing or hereinafter made or acquired by ELF are herein called the &#147;ELF Additive Technology&#148;. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">C.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">PMC and ELF desire to share their technology to formulate gasoline and diesel additive packages to address the needs of certain customers who desire a combined technology consisting
of a combination of PMC Additive Technology and the Elf Additive Technology (the &#147;Combined Technology&#148;) and to use their joint efforts to market the Combined Technology to such customers. </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">D.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">To accomplish the foregoing, each of PMC and ELF desire to make available to the other party their respective databases of information regarding the chemical properties and
performance of each of their respective Additive Technology. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>AGREEMENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In consideration of the
foregoing and the mutual promises contained herein, the parties agree as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2"><B>1. PURPOSE OF THE AGREEMENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The parties have identified a set
of potential customers with which the parties have existing relationships that are potential customers for the Combined Additives and have already achieved technical results relative to the Combined Additives. Appendix 1 lists the potential
customers thus far identified by the parties. ELF shall have the initial responsibility, with the participation of PMC, for mixing and testing the Combined Additives in Elf&#146;s research center in Solaize. The &#147;Purposes&#148; of this
Agreement shall refer to each of the purposes and goals set forth in this Section 1 and the other provisions of this Agreement. In order to further the Purposes of this Agreement, PMC hereby agrees to seek support from each of U.S. automakers, U.S.
oil companies, private environmental organizations, the U.S. Environmental Protection Agency, and the California Air Resources Board to demonstrate the benefits of the Combined Additive Technology including octane requirement increase in the U.S.
market. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>2. POTENTIAL CUSTOMERS AND MARKETING EFFORTS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This Agreement shall apply to the marketing and sales efforts of the parties to their respective potential customers with respect to the
Combined Technology. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><U>Potential customers</U>. PMC will be exclusively in charge of the potential customers located in North and South America and ELF will be exclusively in charge of the potential
customers located in Europe, Asia and Africa for the marketing and sales of Combined Technology. Nothing in this Agreement shall limit PMC&#146;s ability to market and sell the PMC Additive Technology (other than as part of the Combined Technology)
or ELF&#146;s ability to market and sell the ELF Additive Technology (other than as part of the Combined Technology) to any customer or potential customer wherever located. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><U>Development</U>. ELF and PMC will share primary responsibility for the development of marketing to their respective potential customers. To this end the parties will make use of
their respective databases, technical information regarding the Additives and their Intellectual Property related to their respective Additives, and each party shall provide the other party with any marketing and technical support reasonably
requested by such other party in furtherance of the marketing plan. Specific laboratory tests including engine bench or road test required by potential customers will be directly paid by the party in charge of the potential customers as mentioned
here above. The parties shall consult with each other on a regular basis concerning the development and implementation of the marketing plan and shall have the primary responsibility to implement each portion of the marketing plan with respect to
each potential customer, and any material modifications thereof, shall be subject to review and approval of each party. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><U>Performance Testing</U>. In order to secure the potential customers&#146; acceptance of the Combined Additives, all performance testing of Additives to be marketed pursuant
hereto will be primarily provided in the ELF research center of Solaize by ELF if the tests are available at the facility. The cost of these tests shall be borne by the Party in charge of the potential customer as here above described and will be
included free of charge to the technical databases relative to the Combined Additive. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><U>Additives Sales.</U> Each party will be totally in charge of its customers inside its respective geographic area as described in Section 2(a) and will manufacture the Combined
Additive in its existing manufacturing plants or contract partner plants. The other party will transfer its respective Additive with the transfer price as described in Appendix 2 (the &#147;Transfer Price&#148;). Remuneration of the other party will
be only based on the sales margin included in the Transfer Price. </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(e)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><U>Supply of additives.</U> Each party shall supply its Additives to the extent necessary to supply other party&#146;s customers and to manufacture the Combined Additives to supply
its customers. The Additives may be supplied directly to the other party or a third party contract manufacturer for blending into the Combined Additives. The additives supplied by each party shall be of the usual and customary commercial quality as
described in Appendix 3. The parties shall mutually agree upon the most economic logistics for supplying additives to the other party, including the shipping terms for delivery, points of delivery, title and risk transfer, insurance, payment,
credit, and other terms and arrangements as necessary to supply each customer in the most economical manner. ELF acknowledges that PMC currently manufactures its Additives using a third party contract manufacturer and the parties shall cooperate to
coordinate the timing, utilization and location of such manufacturing to facilitate most efficiency and economically servicing each potential customer&#146;s needs. PMC also acknowledges that ELF currently manufactures its Additives using a third
party contract manufacturers which is an ELF subsidiary and the parties shall cooperate to coordinate the timing, utilization and location of such manufacturing to facilitate most efficiency and economically servicing each customer&#146;s needs.
</FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>3. COSTS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Except as expressly set forth in this Agreement or as otherwise agreed to by the parties in writing, the parties shall not engage in any form of sharing of costs,
expenses or losses, and unless expressly stated herein, nothing in this Agreement shall require a party to provide reimbursement or financial assistance to the other party. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>4. INTELLECTUAL PROPERTY </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>PMC Intellectual Property and ELF Intellectual Property</U>. During the Term of this Agreement, subject to the terms and conditions hereof, PMC
hereby grants to ELF, and ELF hereby grants to PMC, a non-exclusive, non-transferable right to use PMC Intellectual Property and ELF Intellectual Property, respectively, for mixing of Additives into Combined Additives, and for marketing and sales of
Additives to the customers, it being understood that this right shall automatically be revoked in the event of any non-permitted use that continues for a period of 30 days after the applicable party gives written notice of such non-permitted use to
the offending party. For purposes of this Agreement, &#147;Intellectual Property&#148; shall mean, wherever registered or perfected, any and all (i) trademarks, service marks, trade names, logos, business and product names, slogans, and
registrations and applications for registration thereof; (ii) works in which copyright may be claimed, and registrations and applications for registration thereof; (iii) patents, patent applications, ideas or inventions (whether patentable or not),
processes, designs, formulae, ideas, trade secrets, know how, confidential and technical information, product specifications and other technical, business, financial, customer and product development plans, forecasts, strategies, and confidential
business information; and (iv) intellectual property rights similar to any of the foregoing; that the respective party owns or has a right to pursuant to license, sublicense, agreement, or permission or otherwise. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>Limitation of Rights</U>. Unless as otherwise agreed in writing by the
parties, neither party shall assign, transfer or otherwise permit any person to use the rights granted herein to the Intellectual Property of the other party without the prior written consent of the other party. The parties agree that all goods or
services promoted and/or rendered under either of the PMC Intellectual Property or the ELF Intellectual Property will be of a nature and quality conforming to standards approved by PMC or ELF, respectively, and that PMC and ELF shall have the right
to do all things reasonably necessary to insure the adequacy of the nature and quality of such goods and services. The parties shall use the registered marks of the other party only for the goods and services for which they have been registered and
the unregistered marks and other Intellectual Property of the other party only for the goods, services and locations for which they have been used in accordance with past practice. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>Trademark Benefit</U>. The parties agree that all use of the other party&#146;s marks and other Intellectual
Property, and all goodwill arising from such use, will inure to the benefit of the party owning such marks or Intellectual Property; provided, however, that nothing set forth herein shall diminish the rights of the party owning such marks or
Intellectual Property, and all goodwill arising from such use, in and to such Intellectual Property. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>Ownership of Intellectual Property</U>. Neither party, by virtue of this Agreement or any of its activities hereunder, shall obtain any ownership
interest in or title to the Intellectual Property or Additives (including all Improvements thereto) of the other party. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(e) <U>Enforcement and Protection of Intellectual Property</U>. Each party shall have the sole and exclusive right, with the other party&#146;s reasonable
cooperation, to pursue protection for its Intellectual Property and to enforce its rights in its Additives against third party infringers. The expenses of any such enforcement, including legal proceedings relating thereto, shall be paid by the party
that is asserting such right and any and all recoveries from a lawsuit or settlement shall be the property of such party. Each party agrees to notify the other party promptly of any suspected infringement of the other party&#146;s Intellectual
Property which may come to its attention and further agrees to assist the party that owns the Intellectual Property, at such party&#146;s request, in any lawsuit or any other dispute involving such party&#146;s Intellectual Property. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>5. REPRESENTATIONS AND WARRANTIES OF PMC </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Authority</U>. PMC has the corporate power and authority to execute, deliver and perform its obligations under this
Agreement, and upon execution and delivery by the parties, this Agreement shall constitute the valid and binding agreement of PMC, enforceable in accordance with its terms. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>No Breaches</U>. The execution and delivery&#146; of this Agreement and the consummation of the transactions
contemplated hereunder, shall not result in the breach of, or give rise to cause for termination of any material contract to which PMC is a party, or, to PMC&#146;s knowledge, which otherwise relates to the Additives and services defined in this
Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>PMC Warranties</U>. PMC warrants to ELF that
it shall: (i) conduct its business in a manner that reflects favorably at all times on the parties&#146; Additives or services and the good name, goodwill and reputation of ELF; (ii) avoid deceptive, misleading or unethical practices that are
detrimental to ELF or the parties&#146; Additives or services; (iii) make no false or misleading representations with regard to ELF or the parties&#146; Additives and services; and (iv) not publish or employ or co-operate in the publication or
employment of any misleading or deceptive advertising material. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">(d) <U>PMC Intellectual Property</U>. To the knowledge of PMC, the PMC Intellectual Property does not violate any patent, copyright, trade secret or other proprietary right of any third party and no additional third party permissions or
licenses will be required for the development, manufacture, sale and distribution of the Additives or services using the PMC Intellectual Property; provided, however, that no representation or warranty is made by PMC with respect to Additives or
services that combine the PMC Intellectual Property with other technology or services when the PMC Intellectual Property without such combination would not violate any such right. PMC has the right to grant to ELF the right to use the PMC
Intellectual Property as set forth in Section 4. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(e)
<U>Disclaimer of other Warranties</U>. EXCEPT AS PROVIDED IN THIS SECTION 6, PMC IS NOT MAKING ANY REPRESENTATIONS OR WARRANTY WITH RESPECT TO THE PMC INTELLECTUAL PROPERTY, OR THE PMC ADDITIVES OR ADDITIVES, OR ANY OTHER ADDITIVES DESIGNED OR
MANUFACTURED BY OR FOR PMC FOR SALE PURSUANT THERETO, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(f) <U>Compliance with Laws</U>. PMC (i) has complied with and is in
compliance, in all material respects, with all federal, state and local statutes, laws, ordinances, regulations, rules, judgments, orders and decrees applicable to it and its assets, business and operations and (ii) has not received written notice
of any claim of, and is not otherwise aware of any, default under or violation of any statute, law, ordinance, regulation, rule, judgment, order or decree except for such default or violation, if any, which individually or in the aggregate, does not
and will not materially and adversely affect the property, operations, results of operations, financial condition or prospects of PMC. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>6. REPRESENTATIONS AND WARRANTIES OF ELF </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Authority</U>. ELF has the corporate power and authority to execute, deliver and perform its obligations under this Agreement, and upon execution
and delivery by the parties, this Agreement shall constitute the valid and binding agreement of ELF, enforceable in accordance with its terms. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>No Breaches</U>. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder, shall not result in
the breach of, or give rise to cause for termination of any material contract to which ELF is a party, or, to ELF&#146;s knowledge, which otherwise relates to ELF&#146;s Additives or services or any of ELF&#146;s Intellectual Property relating to
ELF&#146;s Additives or services. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>ELF Warranties</U>. ELF warrants to PMC that it shall: (i) conduct its business in a manner that
reflects favorably at all times on the parties&#146; Additives or services, and the good name, goodwill and reputation of PMC; (ii) avoid deceptive, misleading or unethical practices that are detrimental to PMC or the parties&#146; Additives or
services; (iii) make no false or misleading representations with regard to PMC or the parties&#146; Additives or services; and (iv) not publish or employ or co-operate in the publication or employment of any misleading or deceptive advertising
material. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>ELF Intellectual Property</U>. To the
knowledge of ELF, the ELF Intellectual Property does not violate any patent, copyright, trade secret or other similar proprietary right of any third party and no additional third party permissions or licenses will be required for the development,
manufacture, sale and distribution of the Additives or services using the ELF Intellectual Property; provided, however, that no representation or warranty is made by ELF with respect to Additives or services that combine the ELF Intellectual
Property with other technology or services when the ELF Intellectual Property without such combination would not violate any such right. ELF has the right to grant to PMC the right to use the ELF Intellectual Property as set forth in Section 4.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(e) <U>Disclaimer of other Warranties</U>. EXCEPT AS PROVIDED
IN THIS SECTION 7, ELF IS NOT MAKING ANY REPRESENTATIONS OR WARRANTY WITH RESPECT TO THE ELF INTELLECTUAL PROPERTY, THE ELF ADDITIVES OR ADDITIVES OR ANY OTHER ADDITIVES DESIGNED OR MANUFACTURED BY OR FOR ELF FOR SALE PURSUANT HERETO, EXPRESS OR
IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(f) <U>Compliance with Laws</U>. ELF (i) has complied with and is in compliance, in all material respects, with all federal, state, provincial,
territorial and local statutes, laws, ordinances, regulations, rules, judgments, orders and decrees applicable to it and its assets, business and operations and (ii) has not received written notice of any claim of, and is not otherwise aware of any,
default under or violation of any statute, law, ordinance, regulation, rule, judgment, order or decree except for such default or violation, if any, which individually or in the aggregate, does not and will not materially and adversely affect the
property, operations, results of operations, financial condition or prospects of ELF. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2"><B>7. INDEMNIFICATION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Indemnity</U>. Each
party agrees to defend, indemnify, save and hold harmless the other party its employees, agents, officers, members, managers, directors, shareholders, partners and affiliates, from and against any and all claims, demands, causes of action, or
liability for damages, loss or injuries, including reasonable attorneys&#146; and experts&#146; fees, which arise out of the breach of any representation, warranty, covenant or agreement of such party under this Agreement or from any failure of such
party to perform its obligations under this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b)
<U>Limitation of Damages</U>. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY LOST OR PROSPECTIVE PROFITS OR ANY OTHER SPECIAL, PUNITIVE, EXEMPLARY, CONSEQUENTIAL, INCIDENTAL OR INDIRECT LOSSES OR DAMAGES (IN TORT, CONTACT, OR
OTHERWISE) UNDER OR IN RESPECT OF THIS AGREEMENT OR ANY FAILURE OF PERFORMANCE RELATED HERETO, HOWSOEVER CAUSED, WHETHER OR NOT ARISING FROM THAT PARTY&#146;S SOLE, JOINT OR CONCURRENT NEGLIGENCE, except to the extent that such losses or damages are
payable by a party to a third person in connection with a claim by such third person that is covered by Section 7(a). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>8. TERM AND TERMINATION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Term</U>. Subject to Section 8, unless earlier terminated pursuant to any other provision hereof, the initial term of this Agreement shall be for a
period of time commencing on the Effective Date and terminating on a date that is five (5) years following the Effective Date (the &#147;Initial Term&#148;). After the Initial Term, the Agreement shall be extended automatically for successive three
(3) year periods unless either party gives notice of non-renewal no later than 90 days prior to the termination of the Initial Term or any successive three (3) year period (the Initial Term and any extension thereof, being the &#147;Term&#148;).
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>Continuation of Additive Supply</U>. Notwithstanding a termination of this Agreement as provided
in Section 8(a), this Agreement shall continue in full force and effect with respect to continuing sales of Additives (as the same, together with any improvements, existed at the date of termination pursuant to Section 9(a)) to any customer which
was an active customer being serviced under this Agreement in the year in which the date of such termination occurs. Such extension of this Agreement shall continue for so long as such customer continues purchasing Additives (as limited above) and
such Additive Sales are economic to the parties; provided that such extension shall not exceed 20 years. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>Termination for Breach</U>. Either party may cancel this Agreement at any time, without liability and without prejudice to any other right or claim
arising under this Agreement, if the other party materially breaches this Agreement or fails to perform any of its material obligations under this Agreement. The party seeking to terminate shall give the other party written notice of that
party&#146;s breach and/or non-performance, and the party receiving the notice shall have thirty (30) days to correct the breach. If the breaching party fails to correct the breach within thirty (30) days, the non-breaching party may deliver a
written termination notice (a &#147;Termination Notice&#148;) to the breaching party, indicating a date certain that is no fewer than three (3) business days from the date that the Termination Notice is delivered to the breaching party. The
Agreement shall be deemed to have been terminated as of the date specified by the non-breaching party in the Termination Notice, unless the parties hereto execute a written waiver of the breach or breaches of this Agreement. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>9. SHARING OF INFORMATION AND CONFIDENTIALITY; </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) Pursuant to this Agreement and previous dealings, each party may learn
Confidential Information of the other party, including without limitation information concerning the Additives of the other party. Each party agrees not to disclose to any third party any Confidential Information of the other party, except as
follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(i) to the extent that disclosure to a third party
is required by applicable law or regulation; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(ii) to the
extent disclosure is necessary or advisable, to its employees, contractors, consultants or advisors, or to its affiliates or their employees, consultants or advisors, in each case for the purpose of carrying out their duties hereunder; </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(iii) with respect to disclosures by a party to banks, financial
institutions or agencies, investment advisors employed by a party, or third party lenders, to the extent disclosure is necessary or advisable to seek or obtain financing, or to its independent accountants or legal counsel; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(iv) with respect to disclosures by a party to potential investors in such
party or potential purchasers of such party; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(v) to the
extent reasonably necessary, disclosure to third parties to enforce this Agreement; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT
FACE="Times New Roman" SIZE="2">(vi) to the extent reasonably necessary, disclosures by a party to a contract manufacturer of Additives; or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(vii) as agreed between the Parties; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">provided, however, that in each case of third party disclosure pursuant to (ii), (iii), (iv), (vi) or (vii), the party making the third-party disclosures shall first
require the third party to sign a written confidentiality agreement requiring confidentiality obligations of the third party concerning the disclosed Confidential Information commensurate in scope with the obligations of the parties under this
Section 10, except that further disclosures by the third party of a nature as provided in (iii), (iv), (vi) or (vii) above shall not be permitted. The obligation of each party not to disclose Confidential Information of the other party except as
provided herein shall survive the termination of this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) Each party agrees that it will use the Confidential Information of the other party solely in
furtherance of this Agreement and for the Purposes, and for no other purpose or advantage. Each party agrees that it will not attempt to analyze or otherwise determine the chemical composition of the Additives of the other party and that it will not
manufacture or sell any of the other party&#146;s Additives (i) to any of the potential customers other than as provided in this Agreement or (ii) to any other person. This provision will survive the termination of this Agreement. Notwithstanding
anything herein, Confidential Information concerning third parties, shall cease to be Confidential Information, insofar as it pertains to such third parties, when and to the extent that neither party has any obligations to such third party arising
hereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) For purposes of this Agreement,
&#147;Confidential Information&#148; of a party shall mean all information disclosed by such party to the other party concerning the business, finances and operations of the disclosing party, the disclosing party&#146;s Additives, Intellectual
Property, or the disclosing party&#146;s costs; provided, however, &#147;Confidential Information&#148; shall not include information which is (i) in the public domain or generally known or accessible; (ii) received by the relevant party from a
third person who is not under a duty of confidentiality with respect to such information, (iii) independently developed by the relevant party; or (iv) previously known to the relevant party prior to the disclosure by the other party. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>10. RELATIONSHIP OF PARTIES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) This Agreement shall not be construed as creating any partnership, joint
venture, association or other entity. It is the intent of the parties that the relationship is solely that of parties with contractual commitments to one another as expressly set forth in this Agreement; that their rights and obligations with
respect to one another will be solely those expressed in this Agreement; that neither party shall be the agent of the other for any purpose under this Agreement; and that the liabilities and obligations of the parties incurred in connection with
this Agreement shall be separate. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) The joint marketing
arrangement provided for by this Agreement shall be specifically limited to Additive Sales to the potential customers. Each party and its affiliates shall have the right independently to engage in and receive full benefits from any business activity
including, without limitation, the marketing and sale of its Additives (and any Improvements thereto) to any person other than the potential customers. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>11. GOVERNING LAW </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Governing Law</U>. THIS AGREEMENT AND ANY DOCUMENTS OR AGREEMENTS ANCILLARY HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
SUBSTANTIVE LAWS OF FRANCE WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2"><B>12. DISPUTE RESOLUTION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) I<U>CC
Arbitration</U>. All disputes arising out of or in connection with this Agreement and relating to the parties&#146; rights and obligations in connection with this Agreement, including without limitation the validity of this arbitration agreement and
the arbitrability of the issues submitted to arbitration hereunder, shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (the &#147;Rules&#148;). </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) For all disputes involving a claim in excess of $1,000,000, the
arbitration hereunder shall be by three independent and impartial arbitrators. PMC and ELF shall each appoint one arbitrator within 30 days after the Request for Arbitration has been delivered to the Secretariat and the two arbitrators so appointed
shall select a third arbitrator within 60 days after the Request for Arbitration has been delivered to the Secretariat. In the event that the parties hereto or the arbitrators fail to select arbitrators as required above, the ICC shall select such
arbitrators in accordance herewith. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) For all disputes involving a claim for less than $1,000,000, the arbitration hereunder shall be
conducted by a single independent and impartial arbitrator to be appointed by the ICC. Unless as otherwise required hereunder for a particular dispute, the ICC shall appoint an independent arbitrator that is generally familiar with the gasoline and
refined Additives market and preferably has no fewer than ten years of practical experience in the relevant field of the gasoline and refined Additives market that is implicated by the dispute in issue in accordance herewith. No more than 30 days
after the Request for Arbitration has been delivered to the Secretariat, the ICC shall submit a list of at least five potential arbitrators to each of PMC and ELF. PMC and ELF shall have a period of no more than 15 business days in which to register
objections to any of the proposed arbitrators based upon lack of independence, lack of qualification or any other material factor which would substantially impair such arbitrators effectiveness for the dispute in issue. The ICC shall then consider
such objections, if any, and shall then appoint a sole arbitrator no more than 90 days after the Request for Arbitration has been delivered to the Secretariat. PMC and ELF each hereby agree that such appointment by the ICC shall be final and
binding. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(d) The arbitration shall be conducted in the English
language at a site to be agreed upon by the parties or, if the parties cannot agree, in Denver, Colorado. All disputes arising out of or in connection with this Agreement and relating to the parties&#146; rights and obligations in connection with
this Agreement (including without limitation the validity of this arbitration agreement, the arbitrability of the issues submitted to arbitration hereunder, the existence and validity of the Agreement, and any conflict of laws issues arising in
connection with the Agreement and/or this arbitration agreement) shall be governed by and interpreted in accordance with the laws of France. In addition, where the Rules are silent, the proceedings before the Arbitral Tribunal (as defined in the
Rules) shall be governed by the procedural rules of the courts of France. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2"><B>13. MISCELLANEOUS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Force Majeure</U>.
Other than obligations to make payments hereunder, the fulfillment of any obligation under this Agreement is subject to strikes, lockouts, accidents, fires, floods, or other acts of God, embargoes, government actions, or any other cause beyond the
control of either party; provided that the affected party shall promptly notify the other party of the occurrence of any such event and the affected party shall use its reasonable commercial efforts to overcome the event of force majeure, provided
neither party shall be obligated to settle any labor dispute on terms not satisfactory to such party in its sole discretion. If a party is prevented from fulfilling its obligations under this Agreement because of such a force majeure event for a
period of 120 days or more, the other party may at any time thereafter terminate this Agreement by written notice to the affected party, without any further obligation (except for the obligations surviving termination as provided in Section 13(g)).
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>Compliance with Laws</U>. Each party will comply with
all applicable U.S., French or other laws applicable to their respective activities under this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>Notice</U>. When written notice is required by this Agreement, it shall be sent by certified mail, courier, overnight delivery service, facsimile
or by such other method as will permit the sender to verify delivery, to the addresses set forth below: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">For PMC: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Polar Molecular Corporation </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">4600 S. Ulster
Street, Suite 700 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Denver, Colorado 80237 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2">U.S.A. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Attention: Mark L. Nelson </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Facsimile: 303-804-0908 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">8 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">For ELF: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">ELF ANTAR FRANCE </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Centre de Recherche
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B.P. 22, 69360 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Solaize,
France </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Attention: Alain J. Faure </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">Facsimile: 33-4-78-02-6086 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Written notice may also be sent by
facsimile to the numbers listed above, but such notice shall not be effective unless the sender receives confirmation of receipt of the facsimile. Notice shall be deemed received when actually delivered to the recipient. The addresses and
transmittal numbers set forth above can be changed only by written notice which complies with the requirements of this Section 13(c). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>Assignment</U>. This Agreement, and any rights and obligations hereunder, shall not be transferred, conveyed, assigned or otherwise disposed of in
whole or in part by either party, by operation of law or otherwise, without the prior written consent of the other party. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(e) <U>No Waiver</U>. Any failure of either party to enforce at any time any of the provisions of this Agreement, or any rights or remedies with respect
thereto, or to exercise any election herein provided, shall not constitute a waiver of any such provision, right, remedy or election or in any way affect the validity thereof or of this Agreement. The exercise by either party of any of its rights,
remedies or elections under the terms of this Agreement shall not preclude or prejudice such party&#146;s right to exercise at any other time the same or any other right, remedy or election it may have under this Agreement. The rights of termination
provided herein are in addition to any other right, remedy or election a party may have hereunder or at law or in equity, including the right to sue for breach without terminating this Agreement. In the event of breach of any of the proprietary
rights or interests, the non-breaching party shall be entitled to pursue all appropriate legal and equitable relief and shall be entitled to recover, in addition to any other relief granted, reasonable attorney fees and expenses of litigation. In
the event there is any type of purchase order or other commercial transaction agreement, in the event of conflict, the terms of this Agreement shall prevail. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(f) <U>Entire Agreement: Amendment</U>. This Agreement embodies the entire understanding between the parties with respect to the subject matter hereof and
supersedes any prior or contemporaneous representations or warranties between the parties relating hereto. No modification or amendment to this Agreement or any of its provisions shall be binding unless contained in writing signed by both parties.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(g) <U>Governing Document</U>. The original English version of
this Agreement is the governing version of this Agreement between ELF and PMC. The French translation of this Agreement is intended as a communication aid between ELF and PMC, but does not in any manner replace or supercede the original English
version of this Agreement. Any discrepancies between the original English version of this Agreement and the French translation of this Agreement shall be resolved in favor of the original English version of this Agreement. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(h) <U>Survival</U>. The obligations with respect to intellectual property
ownership under Section 5, the confidentiality obligations under Section 9, the indemnification and the limitation on damages under Section 7 (including the indemnification for any breach of the Agreement occurring prior to the date of termination)
shall survive any termination of this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(i)
<U>Severability</U>. The invalidity or unenforceability of any portion of this Agreement shall not effect the validity or enforceability of the remainder thereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(j) <U>Headings</U>. The headings to the sections of this Agreement are solely for convenience of reference, and they shall
not govern, limit or aid in the interpretation of any terms or provisions of this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">(k) <U>Publicity</U>. The parties will consult with each other and will mutually agree upon any press
releases or public announcements pertaining to the transactions contemplated by this Agreement and shall not issue any press releases or make any such public announcements prior to such consultation and agreement, except as may be required by
applicable law or by obligations pursuant to any agreement with any national securities exchange or automated quotation system, in which case the party proposing to issue such press release or make such public announcement shall use its reasonable
efforts to consult in good faith with the other party before issuing any such press releases or making any such public announcements. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">[Signature Page Follows] </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the undersigned parties have each set their hand to be effective as of the date first
set forth above. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="100%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>POLAR MOLECULAR CORPORATION</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By: /s/ Mark L. Nelson</FONT></P><HR WIDTH="94%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name: Mark L. Nelson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title: President and Chief Executive Officer</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>ELF ANTAR FRANCE</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By: /s/ Alain J. Faure</FONT></P><HR WIDTH="94%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name: Alain J. Faure</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title: General Manager, Total Fina ELF Additives</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">11 </FONT></P>

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