PolyMedix – University of Massachusetts Term Sheet December 18, 2003

PolyMedix – University of Massachusetts Term Sheet
December 18, 2003

PolyMedix (PMX) and the University of Massachusetts (UMass) agree to the following terms for subsequent licenses to inventions made from Sponsored Research in the Xxxxxxx Xxx laboratory:

• These terms will apply for 5 years from the date of the signatures below.

• For the total of all inventions PolyMedix licenses under the term of this agreement, which are:

1. The result of PolyMedix’s sponsored research of UMass., the license between PMX and UMass will include:

• 7,500 share in PMX per $100,000 of PMX sponsored/channeled research in Xxxxxxx Xxx’x lab

• Reimbursement to the University of Massachusetts for direct patent costs incurred by the UMass for those patents PMX will license

• Best reasonable efforts to sponsor research in Xx. Xxxxxxx Xxx’x laboratory, either directly from PMX or channeled from other companies which are supported and directed by PMX

• Normal license Terms & Conditions

2. As per the Sponsored Research Agreement, the University of Massachusetts will provide to PolyMedix:

• Copies of data and/or intellectual property generated in Xx. Xxxxxxx Xxx'x laboratory as a result of the research sponsored by PMX. These include the following:

o Any data/intellectual property related to intellectual property which PMX licensed from the University of Pennsylvania, and

o Any new data or new intellectual property relating to antimicrobial compounds generated by Xx. Xxxxxxx Xxx.

• If Xx. Xxxxxxx Xxx leaves the University Massachusetts or he stops doing work in the antimicrobial field before the end of the term of this agreement, this agreement will be terminated at that time.

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Agreed to this 18th day of December 2003.

THE UNIVERSITY OF MASSACHUSETTS	POLYMEDIX, INC.
By: /s/ illegible Date: 1-8-04	By: /s/ Xxxxxxxx Xxxxxxxx Xxxxxxxx Xxxxxxxx President & CEO Date: 1-5-04

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