This MEMORANDUM OF UNDERSTANDING (MOU) dated 19th July 2002 sets forth the basic understandings between
the Government of Iceland (the Government), represented by the Minister of Industry and Commerce, with offices at Arnarhvoll, Lindargata, 150 Reykjavík,
and
Landsvirkjun (the National Power Company), an independent company owned by the Republic of Iceland, the City of Reykjavík and the Township of Akureyri, with offices at Háaleitisbraut 68, 103 Reykjavík,
and
Alcoa Inc. (Alcoa), a Pennsylvania corporation with a mailing address of 201 Isabella Street, Pittsburgh, Pennsylvania, USA,