[HX89040], Agreement, Edison General Electric Co, Thomas Alva Edison, March 1889


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[HX89040], Agreement, Edison General Electric Co, Thomas Alva Edison, March 1889

Editor's Notes

Summary: This is (apparently a draft) agreement made between the Edison General Electric Company and Thomas Edison. They agree that: First Edison will transfer to the General Company any and all improvements in electric lighting until September 1st, 1898, subject to the existing rights of the Edison Electric Light Company. Second In exchange the General Company will give Edison five thousand shares of its capital stock fully paid, of the par value of $500,000. The General Company will also, from time to time as mutually agreed upon, pay Edison sums of money equal to one-fifth of the profit earned by the General Company resulting from Edison's improvements. They will also reimburse Edison for his experimental costs and the costs of obtaining patents. They also set the process of arbitration in case they and Edison cannot agree on the sum of money owed to him. Third The agreement applies only to North and South America. To be signed and sealed by the two parties, witnessed, etc. [name Mentions: Thomas Edison Edison General Electric Company]




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Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University
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