LICENSING OPTION AGREEMENT
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THIS LICENSING OPTION AGREEMENT (hereinafter this "AGREEMENT") is made and
entered into as of November 12, 2003 (hereinafter "EFFECTIVE DATE"), by and
among XXXXXX XXXXX, an individual residing at 00 Xxxxx Xxxxxxxxx Xxxxx,
Xxxxxxxx, XX 00000 (hereinafter "LICENSOR"), and NUCLEAR SOLUTIONS, INC., a
Nevada corporation (hereinafter "LICENSEE").
SUBJECT MATTER RECITALS
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WHEREAS, LICENSOR is the owner of the rights, title, interest, and
ownership properties in and to certain technologies represented by, United
Stated Patents No's: 5,087,533; 6,118,204; 6,238,812 see attachments(3)
LICENSING OPTION
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1. Licensing Option. LICENSOR hereby grants to LICENSEE a one (1) year
option, commencing on the Effective Date of this Agreement, to acquire a
worldwide, perpetual right and license to all of the rights, title, interest,
and ownership properties in and to the technologies referred to in this
Agreement for use, improvement, and exploitation by LICENSEE without reserve.
2. Right of First Refusal. LICENSOR hereby grants to LICENSEE a right of
first refusal, exclusive to LICENSEE, with reference to the use and exploitation
of the technologies referred to in this Agreement, for a term of Six (6) months
upon expiration of the one (1) year option referred to above in paragraph "1"
(the right of first refusal shall commence one (1) year after the Effective Date
of this Agreement, and shall expire six (6) months after the Effective Date of
this Agreement). If LICENSEE exercises this right of first refusal, LICENSOR is
barred, without exception, from licensing the technologies referred to in this
Agreement to any other party, person, or entity.
3. CONSIDERATION. In consideration for the payment of One Hundred Thousand
shares of Nuclear Solutions, Inc. common stock (100,000) herein acknowledged
LICENSOR grants to LICENSEE both Option and Right of First Refusal herein
identified. Further, it is herein agreed, that LICENSEE shall tender in
consideration for said acquisition of said exclusive/perpetual license herein
stated, for 7% of the after tax income that the company receives based upon the
revenue generated by the said patents, which shall constitute full and
sufficient consideration for the grant of the subject license.
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Xxxxxx Xxxxx
ASSIGNOR
DATED:
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NUCLEAR SOLUTIONS, INC.
ASSIGNEE
DATED:
