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Document Preview Exclusive License Agreement |
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Title: |
Exclusive License Agreement |
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Entities: |
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Date: |
2004 |
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$52 |
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ID: |
#933586 |
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EXCLUSIVE LICENSE AGREEMENT
This Exclusive License Agreement (hereinafter "Agreement") is entered
into by and between Lockheed Martin Corporation a Delaware corporation acting
through its Vought Systems (the "LICENSOR"), having its principal place of
business at P0 Box 650003, Dallas, Texas and OmniCorder Technologies, Inc. (the
"LICENSEE"), a corporation organized under the laws of Delaware and having a
principal place of business at 25 Loop Road, Stony Brook, New York 11790 as of
the 29 day of September 1998 (hereinafter "Effective Date").
WITNESSETH:
WHEREAS, the LICENSOR is the owner of the Subject Technology as defined
below; and
WHEREAS, the LICENSOR is willing to grant to the LICENSEE a royalty
bearing, worldwide, exclusive license to practice the Subject Technology in
certain Fields as defined below on the terms, and subject to the conditions, set
forth herein: and
WHEREAS, LICENSEE desires to obtain said exclusive license to practice
the Subject Technology on said terms and conditions.
NOW, THEREFORE, for and in consideration of the premises and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties hereto expressly agree as follows:
1. DEFINITIONS AS USED HEREIN
1.1 "Subject Technology" shall mean the technology, know-how, methods,
inventions and confidential information related to LICENSOR's Enhanced Quantum
Well Infrared Photodetectors (EQWIPs) which were designed, developed and
invented by LICENSOR as of the Effective Date. The term Subject Technology shall
include U.S. Patent Number 5,539,206 entitled "Enhanced Quantum Well Infrared
Photodetector" by Thomas A. Schimert issued July 23, 1996, and all inventions
described or claimed therein, together with all patent, or like protection on
said inventions that have or may in the future be granted, whether in the United
States of America or any other country, and all substitutions for and divisions,
continuations, continuations-in-part, renewals, reissues, extensions and the
like on said applications and patents. The term Subject Technology shall also
include any improvement technology, know-how, methods, inventions, patent
applications, patents and maskworks made or obtained by LICENSOR in connection
with the EQWIPs, their materials or structure, LICENSOR's ongoing Advanced EQWIP
Project and any LICENSOR follow-on Projects thereto, so long as this Agreement
is in full force and effect. Subject Technology shall not include any
technology, know-how, methods, inventions, patent applications, patents,
maskworks or confidential information developed by any division, subsidiary or
Affiliate of Lockheed Martin Corporation other than Vought Systems.
1.2 "Licensed Products" shall mean and be limited to biomedical equipment that
incorporates or is intended to incorporate one or more EQWIPs or Advanced
EQWIPs, or that in any manner or to any extent incorporates or is intended to
incorporate, utilizes, or is made by the practice of,
<PAGE>
any of the Subject Technology or any technology derived from or based upon any
of the Subject Technology, or that is covered in whole or in part by any patent,
maskwork or equivalent protection that is or becomes part of the Subject
Technology, whether or not the equipment is delivered or sold assembled or in
kit form.
1.3 "Field" shall mean and be limited to biomedical applications of the Subject
Technology.
1.4 "The Parties" shall mean the LICENSEE and the LICENSOR.
1.5 "Affiliate" shall mean any corporation, partnership, joint venture, or other
entity controlled by, controlling or under common control with a Party. Control
means fifty one percent (51%) or more stock or other equity ownership.
1.6 "QED" shall mean Quantum Epitaxial Designs, Inc., having a place of business
at 119 Technology Drive, Bethlehem, PA 18015.
1.7 "Net Sales Revenue" shall mean the gross amount of monies (or the cash
equivalent of other than cash consideration) actually received by LICENSEE for
any Licensed Products that are sold to End-users, less any, credits and
allowances actually granted on account of rejections, returns or billing errors
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