Exhibit 10.17
September 10th, 2002
Westvaco Brand Security
Xxx Xxxx Xxxxx Xxxx
Xxxxxxxx, XX 00000
Attn: Xxx Xxxxxx
Dear Xx. Xxxxxx:
As discussed with both yourself and Xxx Xxxxxx, NoCopi is pleased to offer the
following terms for the extension of your license agreement for NoCopi Security
Technologies. With this addendum, both Westvaco Brand Security and NoCopi
Technologies, Inc. agree to the following:
1. Extend the current agreement through 12/31/2004 (16 months additional time
after current termination date)
2. In exchange for this extension of termination date, Westvaco Brand Security
is to pay NoCopi Technologies, Inc. $35,000 as a prepayment for this
extension.
3. Westvaco Brand Security to pay NoCopi Technologies, Inc. an additional
$35,000 when either of the following occur (which ever occurs first):
a. Westvaco Brand Security will pay NoCopi Technologies, Inc. an additional
$35,000 upon payment from customer(s) when NoCopi technology revenue to
Westvaco Brand Security exceeds $70,000.
b. If 'a' above has not occurred by 9/1/03, Westvaco Brand Security will
pay NoCopi Technologies, Inc. the additional $35,000.
Agreed to this date _______________________________
_________________________________ __________________________________
Westvaco Brand Security NoCopi Technologies, Inc.
