July 29, 2008
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OFFICE OF TECHNOLOGY TRANSFER |
▇▇▇▇ ▇▇▇▇▇▇▇ DIRECTOR |
July 29, 2008
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
President
Natcore
Technology, Inc.
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▇▇▇ ▇▇▇▇,
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RE: |
Amendment to the License Agreement between Natcore Technology, Inc., and ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ University (Agreement #▇▇▇ LA 04-4-001) |
Dear ▇▇. ▇▇▇▇▇▇▇:
Per our conversation, this ▇▇▇▇▇▇ confirms our understanding and agreement to amend that certain license agreement dated March 31, 2004, between Natcore Technology, Inc., and ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ University (“License Agreement”) as follows:
Article 9.1 is amended in its entirety to read as follows:
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(a) |
License shall procure and maintain in full force and effect, from the Effective Date of this Amendment through September 30, 2008, commercial general liability insurance of not less than US $3,000,000 (THREE MILLION US DOLLARS) per occurrence and US $3,000,000 (THREE MILLION US DOLLARS) in the aggregate. Such commercial general liability insurance shall provide: (i) product liability coverage; and (ii) broad form contractual liability coverage for Licensee’s indemnification obligations under this Agreement. |
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(b) |
From October 1, 2008, throughout the term of this Agreement, Licensee shall procure and maintain in full force and effect commercial general liability insurance for a minimum amount of US $5,000,000 (FIVE MILLION US DOLLARS) per occurrence and US $5,000,000 (FIVE MILLION US DOLLARS) in the aggregate. Such commercial general liability insurance shall provide: (i) product liability coverage; and (ii) broad form contractual liability coverage for Licensee’s indemnification obligations under this Agreement. Licensee shall maintain such commercial general liability insurance after the expiration or termination of this Agreement during any period in which Licensee continues to make, use, perform or sell a product that was a Rice Licensed Product under this Agreement, and thereafter for a period of five (5) years. |
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(c) |
Licensee’s sublicensees shall procure and maintain in full force and effect, throughout the Term of This Agreement, commercial general liability insurance for |
RICE
UNIVERSITY • OFFICE OF TECHNOLOGY TRANSFER. • MS 705
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PHONE (▇▇▇) ▇▇▇-▇▇▇▇ Fax (▇▇▇) ▇▇▇-▇▇▇▇ E-Mail: ▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇
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a minimum amount of US $5,000,000 (FIVE MILLION US DOLLARS) per occurrence and US $5,000,000 (FIVE MILLION US DOLLARS) in the aggregate. Such commercial general liability insurance shall provide: (i) product liability coverage; and (ii) broad form contractual liability coverage for sublicensee’s indemniifaction obligations under this Agreement. Sublicensees shall maintain such commercial general liability insurance after the expiration or termination of this Agreement during any period in which sublicensee continues to make, use, perform or sell a product that was a Rice Licensed Product under this Agreement, and thereafter for a period of five (5) years. |
All other provisions of the License Agreement shall remain in full force and effect..
Please indicate your agreement to amend the License Agreement as set forth above, effective July 29, 2008, by signing where indicated below and returning a copy to my attention.
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Sincerely, |
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▇▇▇▇ ▇. ▇▇▇▇▇▇▇ |
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Agreed and accepted: |
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ |
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President, |
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Natcore Technology, Inc. |
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