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Finder's Fee Agreement

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Title:

Finder's Fee Agreement

Entities:

iQ Power Technology Inc.; Power Technology, Inc.; Hereford Group Limited

Date:

2002

Size:

Preview shows 1KB of 13KB total

Price:

$33

ID:

#143775

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                             FINDER'S FEE AGREEMENT





BETWEEN:          iQ POWER TECHNOLOGY INC. (the "Issuer")

                  Erlenhof Park

                  Inselkammer Strasse 4

                  D-82008 Unterhaching, Germany



AND:              HEREFORD GROUP LIMITED

                  12th Floor, Ruttonjee House

                  11 Duddell Street

                  Central, Hong Kong (the "Finder")



In  consideration  of the  services  of the  Finder  in  arranging  the  private

placement  of the  Units of the  Issuer at  US$0.50  per Unit  indicated  on the

attached Schedule A (the  "Subscriptions"),  on the Issuer's receipt of the full

purchase  price for, and the  conclusion of the private  placement of, the Units

subscribed  for under the  Subscriptions,  the Issuer agrees to pay the Finder a

fee (the "Finder's Fee') of 10% of the value of the Units placed by the issue of

that number of fully paid and non-assessable shares of the Issuer (the "Shares")

determined by dividing the Finder's Fee by the deemed issue price of US$0.50 per

Share (the "Subscription  Price"). The Finder hereby agrees to accept the Shares

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