Amendment No. 2 to the SPONSORED RESEARCH AGREEMENT between Universal Display Corporation and The University of Southern California
Exhibit
10.1
Amendment
No. 2
to
the
between
Universal
Display Corporation
and
The
University of Southern California
This
Amendment No. 2 (this “Amendment”) shall
amend and modify, to the extent of any inconsistency, the Sponsored Research
Agreement originally entered into effective as of May 1, 2006, by and between
Universal Display Corporation (“UDC”) and the
University of Southern California (“USC”), as previously
amended (the “Agreement”). This
Amendment shall be deemed effective as of May 1, 2009.
WHEREAS,
USC has subcontracted a portion of the Research under the Agreement to the
University of Michigan (“Michigan”);
and
WHEREAS,
USC, Michigan and UDC desire to continue the Research under the Agreement for an
additional four (4) year period.
1. The
period for performance of the Research is hereby extended for four (4)
additional years, through April 30, 2013. The period from May 1, 2009
through April 30, 2013 shall be referred to as (“Phase 5”) of the
Research.
2. The Work
Plan for Phase 5 of the Research is set forth in Exhibit A attached hereto,
which exhibit is hereby incorporated into the Agreement by
reference.
3. The
Budget for Phase 5 of the Research is set forth in Exhibit B attached hereto,
which exhibit is hereby incorporated into the Agreement by
reference. Unless otherwise agreed in writing, the total annual
amounts due from UDC hereunder for performance of Phase 5 of the Research shall
not exceed the maximum annual budgeted amounts in Exhibit B.
4. Except as
set forth herein, all of the other terms and conditions of the Agreement shall
remain the same and in full force and effect.
IN
WITNESS WHEREOF,
the parties hereto have executed this Agreement by their duly authorized
representatives.
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Universal
Display Corporation
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The
University of Southern California
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By:
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By:
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Name:
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Name:
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Title:
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President
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Title:
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Senior Contracts & Grants Administrator
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Date:
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May 7, 2009
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Date:
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5/4/09
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USC Principal Investigator
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Michigan Principal Investigator
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Date:
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May 1, 2009
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Date:
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May 6, 2009
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