EXHIBIT 10.40
74
November 14, 1997
Certified Mail and Facsimile
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▇▇▇▇▇▇ Research Corporation
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Ph.D., President
Dear ▇▇▇▇▇:
SLT hereby exercises its option to cancel the License Agreement, dated May 31,
1994, between ▇▇▇▇▇▇ Research Corporation and SLT. In accordance with Section
5.5, we are enclosing our check for $15,000 to cover the minimum royalties for
October, November and December 1997, and January and February 1998.
We shall look into our files and records and determine whether there are any
items of FRC's property that should be returned.
We are grateful for having had the opportunity to use the technology covered
under the Agreement. We wish you the best of luck in your future endeavors.
Yours very truly,
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
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▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Vice President, Legal & Tax Affairs
enclosure
cc. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
75
