NeuroPhysics Corporation and Shirley Research CorporationContract Development and Exclusive Licensing Agreement • March 4th, 2009
We entered into a Contract Development and Exclusive Licensing Agreement with NeuroPhysics Corporation as of September 18, 2006. The agreement provided us with feasibility research, contract development and consulting services and certain ownership and licensing rights, subject to the rights of the United States Federal government, to intellectual property and technical knowledge associated with several novel near-infrared spectroscopy, or “NIRS”, and imaging technologies and products under development at NeuroPhysics. We paid an initial license fee of $1,000,000. We terminated this agreement in February 2009, except for various provisions regarding our ownership of the technology related to the potential new products. In February 2009, we entered into a similar agreement with Shirley Research Corporation and Hugh F. Stoddart and Hugh A. Stoddart, formerly of NeuroPhysics Corporation, and have agreed to pay monthly development and consulting fees of $15,000 a month during the term of t
CONTRACT DEVELOPMENT AND EXCLUSIVE LICENSING AGREEMENTContract Development and Exclusive Licensing Agreement • September 20th, 2006 • Somanetics Corp • Electromedical & electrotherapeutic apparatus • Michigan
THIS CONTRACT DEVELOPMENT AND EXCLUSIVE LICENSING AGREEMENT (“Agreement”) is made as of September 18, 2006, among Somanetics Corporation (the “Company”), NeuroPhysics Corporation (“NPC”), Hugh F. Stoddart (“HFS”) and Hugh A. Stoddart (“HAS”, and together with NPC and HFS, the “Consultants”).
