AMENDMENT NO. 1 to PATENT LICENSE AGREEMENT
AMENDMENT NO. 1
to
(Originally Dated March 2, 2017)
This AMENDMENT NO. 1 to PATENT LICENSE AGREEMENT entered into between Xxx Xxx and Xxxx Xxx (collectively, “Inventor”), Shongkawh, LLC, a Minnesota limited liability company (“Assignee”), and SecureTech Innovations, Inc., a Wyoming corporation (“Licensee”), (collectively, “Amendment”) is made and effective as of this 13th day of March, 2024.
NOW, THEREFORE, the Parties hereto agree as follows:
1.SECTION 3.1 is amended in its entirety to read as follows:
“Royalty Payment. For the rights granted in this Agreement, and subject to Section 3.3 herein below, Licensee shall pay Licensor a royalty payment of one dollar (US$1.00) per annum.”
2.SECTION 3.2 is amended in its entirety to read as follows:
“Reserved. This section is reserved for future amendment.”
3.SECTION 3.3 is amended in its entirety to read as follows:
“Payment. Payment of royalties shall be made to Licensor not later than the thirtieth (30th) day ("Due Date") after the end of each calendar year to which a royalty payment is earned and due.”
[Signatures on Following Page]
Amendment No. 1 to Patent License Agreement
Shongkawh, LLCPage 1 of 2
SIGNATURES
IN WITNESS WHEREOF, the parties, by their duly authorized representative, have caused this Agreement to be executed on this 13th day of March, 2024.
INVENTOR/LICENSOR:
/s/ Xxx Xxx Xxx Xxx
| INVENTOR/LICENSOR:
/s/ Xxxx Xxx Xxxx Xxx
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ASSIGNEE/LICENSOR:
/s/ Xxx Xxx Xxx Xxx President and Chief Executive Officer Shongkawh, LLC
| LICENSEE:
/s/ Xxx Xxx Xxx Xxx President and Chief Executive Officer Securetech, Inc.
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Amendment No. 1 to Patent License Agreement
Shongkawh, LLCPage 2 of 2
