to the OLED PATENT LICENSE AGREEMENT (originally effective as of April 19, 2005) by and between Samsung SDI Co., Ltd. (“SDI”) and Universal Display Corporation (“UDC”)
Exhibit
10.1
AMENDMENT #1
to
the
(originally
effective as of April 19, 2005)
by and
between
Samsung
SDI Co., Ltd. (“SDI”)
and
Universal
Display Corporation (“UDC”)
This
Amendment #1 shall amend and modify, to the extent of any inconsistency, the
provisions of the above-referenced OLED Patent License Agreement (the
“Agreement”). The effective date of this Amendment #1 is January 1,
2007.
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1.
|
Section
5.3 of the Agreement is hereby amended to change the currency exchange
rate specified therein from “the exchange rate as published in The Wall Street Journal
on the last business day of the [The confidential material contained
herein has been omitted and has been separately filed with the
Commission.] for which payment is being made,” to “the Korea Exchange Bank
(KEB) Basic Rate as last quoted on the final business day of the [The
confidential material contained herein has been omitted and has been
separately filed with the Commission.] with respect to which the relevant
Royalty Report is made; provided, however, that actual payment of the
royalty shall be made within sixty (60) days following the end of each
[The confidential material contained herein has been omitted and has been
separately filed with the Commission.] pursuant to Section
4.4.”
|
|
2.
|
All
other terms and conditions of the Agreement, as previously amended, shall
remain in full force and effect.
|
IN
WITNESS WHEREOF, the parties by their duly authorized representatives have
agreed to this Amendment #1:
| Samsung SDI Co., Ltd. | Universal Display Corporation | |
|
By:
/s/ Xxx Xxx
Chi
|
By:
/s/ Xxxxxx X.
Xxxxxxxx
|
|
|
Name:
Xxx Xxx Chi
|
Name:
Xxxxxx X. Xxxxxxxx
|
|
|
Title:
Executive Vice
President
|
Title:
President
|
|
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Date: July 30th, 2008
|
Date: May 28th,
2008
|
Universal
Display/Samsung SDI Confidential
Page
1
