Stephen D. Podd - Page 8

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          walls of the container.  As designed, it constitutes a liquid               
          impervious liner useful in the transportation of raw animal skins.          
               Mr. Podd filed a patent application for the hideliner with the         
          U.S. Patent and Trademark Office on August 1, 1978.  On February 5,         
          1980, the U.S. Patent and Trademark Office issued United States             
          Patent No. 4,186,845 (the '845 patent) covering the hideliner               
               On May 21, 1980, Mr. Podd licensed to Powertex the exclusive           
          right to manufacture, market, and sell the hideliner.  The terms of         
          the agreement granted Powertex an exclusive 6-year license in               
          exchange for royalties of 5 percent during the initial six-year term        
          of the license and 7 � percent during any extensions of the license.        
          The license agreement was renewed on November 30, 1985, for an              
          additional 6-year term.                                                     
               C.  The Sea Bulk Liner                                                 
               On October 26, 1970, and February 9, 1972, Bert A. Bodenheimer,        
          an employee of Sea-Land, filed patent applications for what would           
          eventually come to be known as the Sea Bulk container liner system.         
          United States patent numbers 3,696,952 and 3,868,042 (collectively,         
          the Sea Bulk patents) were issued on October 10, 1972, and February         
          25, 1975, respectively, as a result of these applications.  These           
          patents were subsequently assigned to Sea-Land by Mr. Bodenheimer.          
          The Sea Bulk liner system was designed for use in shipping products         
          in dry bulk form and also protects products against contamination           
          and seepage during transport.                                               

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