EXHIBIT 10.15
Agreement dated December 19th, 2000 by and between NOCOPI TECHNOLOGIES, INC., a
corporation organized and existing under the laws of Maryland, with offices at
000 Xxxxx Xxxxxx, Xxxx Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000-0000 ("NOCOPI"), and
WESTVACO BRAND SECURITY INC., a corporation organized and existing under the
laws of Delaware, with offices at Xxx Xxxx Xxxxx Xxxx, Xxxxxxxx, Xxxxxxxxxxx
00000, and its AFFILIATES ("LICENSEE").
1. This Agreement amends a certain License Agreement (the "License Agreement")
between the parties dated as of September 1, 2000.
Section 1.13 is amended to state in its entirely as follows:
Section 1.13 As used here there term "TERRITORY" shall mean the world with
the exclusion of EUROPE as defined in the License Agreement.
Section 4.03 is deleted in its entirely and all payments made to date under
this section shall be returned to LICENSEE.
Sections 7.01 and 7.02.1 are amended to set forth in their entirety are
follows:
7.01 This Agreement shall commence on September 1, 2000 and shall
continue until August 31, 2003 (unless terminated as
hereinafter provided); and thereafter from year to year,
unless and until terminated as provided for in Clause 7.02.1
hereof.
7.02 LICENSEE and NOCOPI shall have the option of terminating this
Agreement in the following circumstances:
7.02.1 After August 31, 2003, by one hundred and twenty (120) days'
notice, in advance and in writing, given by either Party to
the other.
2. If at any time during the term of the License Agreement, NOCOPI becomes able
to grant LICENSEE the exclusive right to market, promote, sell and
manufacture EXCLUSIVE PRODUCTS throughout the world, and the non-exclusive
right to market, promote, sell and manufacture NON-EXCLUSIVE PRODUCTS,
throughout the world, then TERRITORY shall be immediately redefined to
include EUROPE, and NOCOPI will take all necessary actions to confirm such
right.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed by their respective representatives thereunto duly authorized as of the
date first hereinabove written.
NOCOPI TECHNOLOGIES, INC.
per: /s/
-----------------------------------
Xxxxxxx Xxxxxxxxx, M.D.
Chairman
WESTVACO BRAND SECURITY INC.
per: /s/
------------------------------------
Xxxxxxx Xxxx Xxxx
President
