Daimler AG's origin is in an "Agreement of Mutual Interest" signed on 1 May 1924 between Benz & Cie. (founded 1883 by Karl Benz) and Daimler Motoren Gesellschaft (founded 1890 by Gottlieb Daimler and Wilhelm Maybach). Both companies continued to manufacture their separate automobile and internal combustion engine marques until 28 June 1926, when Benz & Cie. and Daimler-Motoren-Gesellschaft formally merged – becoming Daimler-Benz AG (Aktiengesellschaft) – and agreed that thereafter, all of the factories would use the brand name of "Mercedes-Benz" on their automobiles. The inclusion of the name Mercedes in the new brand name honored the most important model series of DMG automobiles, the Mercedes series, which were designed and built by Wilhelm Maybach. They derived their name from a 1900 engine named after the daughter of Emil Jellinek. Jellinek became one of DMG's directors in 1900, ordered a small number of motor racing cars built to his specifications by Maybach, stipulated that the engine must be named "Daimler-Mercedes", and made the new automobile famous through motorsports. That race car later became known as the "Mercedes 35 hp". The first of the series of production models bearing the name Mercedes had been produced by DMG in 1902. Jellinek left the DMG board of directors in 1909.