JOINT DEVELOPMENT AGREEMENT BY AND AMONG GLOBAL HEAVY OIL CORPORATION, SCHLUMBERGER TECHNOLOGY CORPORATION AND SCHLUMBERGER HOLDINGS LIMITED DATED APRIL 23, 2009Joint Development Agreement • August 5th, 2009 • Global Resource CORP • Special industry machinery, nec • Delaware
will hold the Intellectual Property related to specified jurisdictions. Exhibit I to this term sheet sets forth an example of the possible structure of the Phase III JV. Business of the Phase III JV (the "Business") The commercial exploitation of Products and Services. Contributions by the Schlumberger Parties (1) All of the Schlumberger Parties' right, title and interest in and to JDA IP. (2) All equipment, machinery, Manufacturing Information, Know-How and other tangible and intangible assets owned by the Schlumberger Parties that are used primarily in furtherance of activities under the JDA. Contributions by GRC (1) All of GRC's right, title and interest in and to JDA IP. (2) All equipment, machinery, Manufacturing Information, Know-How and other tangible and intangible assets owned by GRC that are used primarily in furtherance of activities under the JDA. Board of Directors Each Venture Entity shall have a five member Board of Directors ("Board") appointed as follows: - 3 persons d
