DELAWARE
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22-3543611
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(State or other jurisdiction of
Incorporation or organization)
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(I.R.S. Employer
Identification No.)
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Roles/Responsibilities — Comverge SA in its role as Aggregator (as defined in the Agreement) will be responsible for registering, testing, certifying, verifying performance, dispatching, monitoring and settling loads contracted by CSPs in South Africa, where it will follow the rules and market constructs as set up by ESKOM. Comverge SA in its role as a CSP will be responsible for installing metering and communications equipment at Load Providers (as defined in the Agreement), registering and dispatching Load Providers, and recruiting and training Agents (as defined in the Agreement) of the CSP.
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Term/Termination – The Agreement’s starting date is the Contract Date and the completion date is March 31, 2013. In addition, there are additional key dates and conditions to be met during the 16-month pilot program, with termination provisions and termination payouts.
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Limitation of Liability/Security/Indemnification — There are standard limitation of liability and indemnification clauses in the Software License and Support Agreement and the Agreement for each Party. Comverge, Inc. provided a parent guarantee under the Agreement.
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Currency/Applicable Law — Eskom shall pay Comverge in RAND, which is the currency of South Africa. The Agreement is governed under South Africa law.
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Arbitration – The Agreement provides for dispute resolution by arbitration in accordance with the Rules of Conduct of Arbitrations published by the Arbitration Foundation of South Africa.
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Software License and Support Agreement – As part of the Agreement, the Parties also entered into a Software License and Support Agreement that provides for a limited, non-exclusive and non-transferable right to Eskom for use of the IntelliSOURCE 2.0 platform.
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Confidential Treatment – Comverge plans to seek confidential treatment of certain terms of the Agreement, from the Securities and Exchange Commission, including but not limited to, pricing terms and terms relating to its intellectual property.
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Exhibit
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Number
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Description
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99.1
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Press Release, dated December 20, 2011
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Exhibit
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Number
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Description
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99.1
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Press Release, dated December 20, 2011
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This is the first client win since Comverge established its new International subsidiary in March 2011 and represents the nineteenth deployment of Comverge’s IntelliSOURCE platform.
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The Comverge IntelliSOURCE 2.0 platform is the industry’s most advanced, enterprise-class software platform and operating environment that incorporates the insight and control needed to realize the value from a true two-way dialogue between energy providers and consumers.
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This new competitive market for demand response resources will help optimize energy usage in South Africa by creating and fostering new demand response companies within the country.
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The scalability and flexibility of the Comverge IntelliSOURCE 2.0 platform across multiple customer classes will allow Eskom to accurately evaluate the potential for commercial, industrial and residential demand response programs in the country.
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The terms of the contract are for a pilot program scheduled to run through March 31, 2013.
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To support the partnership with Eskom, Comverge will open a new office in Johannesburg, South Africa.
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