Zurich, August 2022

Klepsydra Technologies AG is pleased to announce that a distribution agreement has been signed between Ampex and Klepsydra North America. The agreement consists of:

1. Klepsydra North America hereby grants to the Distributor and the Distributor hereby accepts the non- exclusive right to sell the Products within the Territory under the terms and conditions as set out in this Agreement. (The countries of North America).
2. The Distributor shall purchase the Products from Klepsydra North America and resell them in its own name, at its own risk and for its own account in the Territory. Thus, the Parties agree that the Distributor is neither an agent nor a representative nor an intermediary of Klepsydra North America and shall not contract or incur any liability on behalf of Klepsydra North America.
3. The Distributor shall be entitled to describe itself as “Authorised Distributor” for the Products but shall not bind Klepsydra North America nor Klepsydra Technologies AG in any way.
4. The Distributor undertakes to fulfil its obligations under this Agreement through its owner and CEO Michael J. Carey, and through Rob Trepa, and George Patten, but not delegate the fulfilment of the obligations to others, without advance written approval of Klepsydra North America.
5. The Distributor shall be able to sell products of others too, provided the products are not competing with the Products.

Thanks to Mike Carey, Rob Trepa and Jordan Miller for making this great step forward possible.