Common use of Charitable Objective Clause in Contracts

Charitable Objective. 4.1 Celator is aware that Princeton is a member of the “Needle-free vaccination via Nanoparticle Aerosols” project which is being funded by the ▇▇▇▇ & ▇▇▇▇▇▇▇ ▇▇▇▇▇ Foundation, through Harvard University. As a member of this project Princeton has agreed to ensure that public health solutions in developing countries, exclusive of the Major Market Countries, are optimized through (i) the broad availability of data and information to the scientific community and (ii) the access to affordable health solutions for the benefit of people most in need within the developing countries (“the Charitable Objective”. The Charitable Objective will be achieved through the following objectives a) reporting of inventions, b) publication of results of work under the grant, c) identification of background technologies and strategy to ensure access, d) strategy to secure if necessary and manage and allocate IP rights and e) potential post project development plans and f) strategies regarding the commercialization and sustainability of the projects anticipated final health solution. Princeton expressly reserves the right to use the Invention, Princeton Patent Rights, Licensed Products, Licensed Methods, Data, and associated information and technology for the achievement of the Charitable Objective as defined in the “Needle Free Vaccination via Nanoparticle Aerosols” project. EXCLUSIVE LICENSE AGREEMENT: Princeton University and Celator Pharmaceuticals