ࡱ> g RrMbjbjVV.r<r<>E3     8UD{55"WWW& z{|{|{|{|{|{|{$v{ {  WWT{""" W Wz{"z{""Lr8VzWH+Huf{{0{vbVz VzL=6"s,{{b { + :  LICENSE OPTION AGREEMENT THIS LICENSE OPTION AGREEMENT (this Agreement), dated as of this ___ day of ____________, 20__ (the Effective Date), by and between 鶹AV, a national university corporation duly organized under the laws of Japan, having a principal address at 1-3-2 Kagamiyama, Higashi-Hiroshima City, Hiroshima Pref., 739-8511, Japan (University), and [XYZ Corporation], a corporation duly organized under the laws of ______, having a principal place of business at ___________________, (XYZ). RECITALS University has developed proprietary technology relating to ________________ (the University Technology) and owns and has rights under certain patents, patent applications and know-how in respect of the University Technology in various countries of the world. XYZ has expressed to University its interest in developing and commercializing ______ products based on the University Technology, and XYZ wishes to acquire an option to enter into a technology license agreement for such products utilizing Universitys patent rights and know-how relating to the University Technology. University is willing to grant XYZ such option to enter into such technology license agreement subject to the terms and conditions hereinafter contained. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the Parties agree as follows: Section 1. Definitions and Interpretation Except as otherwise expressly provided herein, terms and expressions defined in Section 1.01 of the Technology License Agreement as hereinafter defined shall have the same meanings when used in this Agreement. In this Agreement, unless the context herein otherwise requires. Confidential Information means any information which is supplied or disclosed by University to XYZ during or in connection with the negotiations and performance of this Agreement prior to or after this Agreement in written form and identified by notice or legend on the face of such written form indicating that the information contained therein is confidential, or any information orally communicated by University or observed by XYZ at the Universitys premises in connection with this Agreement prior to or after this Agreement, provided that within thirty (30) days of such oral disclosure or observation, University sends XYZ a written notice which identifies such information and indicates that it is confidential, and which may include all data, drawings, designs, concepts, specifications, operating experience and techniques, documents or other information of confidential nature, in any form received by XYZ from University at any time, and relating to Universitys products, inventions, technology, software, developments, know-how, improvements, marketing plans or manufacturing processes. Effective Date has the meaning ascribed thereto in the Preamble. Option has the meaning ascribed thereto in Section 2. Option Fee has the meaning ascribed thereto in Section 3. Option Period has the meaning ascribed thereto in Section 2. Party means either University or XYZ, and Parties means collectively University and XYZ Technology License Agreement means the technology license agreement attached hereto. Section 2. Grant of Option Subject to the terms and conditions set forth herein, for a period of ______ (__) months from the Effective Date (the Option Period) during the effective term hereof, University hereby grants to XYZ an option to enter into the Technology License Agreement (the Option). XYZ may exercise the Option at any time during the Option Period upon written notice to University and upon payment of ____________ Japanese Yen (_________), which constitutes the Initial License Fee under Section 3.01 of the Technology License Agreement. The Technology License Agreement shall become effective upon payment of such amount without signature; provided, however, that for the purpose of formality, both Parties shall promptly cause the Technology License Agreement to be executed by their respective duly authorized officers and to be delivered to each other. Section 3. Option Fee In consideration of the Option granted hereunder, XYZ shall pay to University a non-refundable option fee of _____________ Japanese Yen (_________) (the Option Fee), which shall be due and payable within _____ (__) days from the Effective Date. The Option Fee or any part thereof shall not be credited against any Initial License Fee or Running Royalty due and payable under the Technology License Agreement. Section 4. Delayed Interest In the event that any amount due University by XYZ hereunder is not paid when due, XYZ shall pay on demand to University interest on the overdue amount at the Interest Rate from the due date of such amount until the date such overdue amount is paid in full. Section 5. Payment The Option Fee and any other amount payable to University hereunder shall be payable to University in Japanese Yen without any deduction of any remitting bank commission or fee or otherwise at the following bank account of University or any other bank account University notifies XYZ in writing from time to time: Bank Name: Branch Name:__________ Branch Bank Address: Type of Bank Account: _______ account Bank Account Number: _____ Name of the Bank Account holder: _________________ Section 6. Withholding Tax XYZ shall not be entitled to withhold or deduct from the payments due to University hereunder any present or future taxes, levies, imposts, deductions, charges, withholdings or liabilities imposed by any government or any political subdivision or taxing authority thereof in any jurisdiction. The Parties agree that the payments due to University hereunder constitute royalties as that term is defined in Article 12, paragraph 2 of the Convention between Japan and the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (the Treaty) and, as such, are exempt from the US withholding tax under Article 12, paragraph 1 of the Treaty. Pursuant to such exemption, XYZ shall not withhold any tax from any payments due to University hereunder, and University shall not be liable for any withholding taxes involved in this transaction. University shall, in addition to providing a certificate of Japanese residency, complete all forms required for XYZ to obtain such exemption and provide XYZ with such forms. Section 7. Technical Support Upon XYZs request, during the Option Period, University shall at its sole discretion provide XYZ with technical support University considers to be appropriate for assisting XYZ in making its own decision to exercise the Option, and shall at XYZs cost provide materials University considers to be appropriate for assisting XYZ in making such decision and conduct its assessment of the University Technology. Section 8. Confidentiality 8.01. XYZ shall maintain the confidentiality of any Confidential Information learned from, or supplied or disclosed by, University, and shall not disclose, publish or release any Confidential Information to any person other than to those officers or employees of XYZ who have a need to know such Confidential Information, and shall not use any Confidential Information for itself or others for any purpose other than the purpose contemplated herein, unless University agrees otherwise in writing or unless XYZ can demonstrate by competent documentary evidence that the Confidential Information: was already of written record in its files prior to receipt thereof; was already in the public domain prior to receipt thereof or comes into the public domain through no fault or omission attributable to XYZ; is lawfully obtained by XYZ without restrictions to use from a third party who is legally free to disclose the same; or is independently developed by XYZ without the aid, application or use of any Confidential Information, as established by a preponderance of documentary evidence. 8.02. In protecting the Confidential Information, XYZ shall take all necessary precautions and, without limiting the foregoing, the Confidential Information shall be treated in at least the same manner and with the same degree of care as XYZ applies with respect to its own confidential information of like importance, but in no event, shall XYZ take anything less than reasonable care to prevent the disclosure of the Confidential Information. 8.03. XYZ shall not disclose the Confidential Information to any third party except: (i) as required by any competent court, regulatory authority or governmental agency, in which case XYZ shall notify University prior to disclosing the Confidential Information, and identify (a) the Confidential Information to be disclosed, (b) the third party or parties to whom such Confidential Information is to be disclosed, (c) the circumstances that necessitate disclosing such Confidential Information; moreover, in any such case XYZ shall use its best efforts to preserve the confidentiality thereof to the extent possible in compliance with such order including obtaining a protective order; or (ii) with the prior written approval of University, in which case such written approval shall identify (a) the Confidential Information that may be disclosed, (b) the third party or parties to whom such Confidential Information may be disclosed, and (c) the circumstances under which such Confidential Information may be disclosed; if University so approves any such disclosure, such approval shall be strictly construed. 8.04. In the event that XYZ exercises the Option, the confidentiality obligations of XYZ under this Section 8 shall be superseded by Article VI of the Technology License Agreement. In the event that this Agreement expires due to XYZs failure to exercise or abandon the Option or is terminated due to XYZs default hereunder, this Section 8 shall survive fifteen (15) years after such expiration or termination. Section 9. Abandonment or Termination for Convenience At any time after payment of the Option Fee, XYZ shall have the right to abandon the Option or to terminate this Agreement for its convenience during the Option Period. Section 10. Term and Termination 10.01. This Agreement shall become effective on the Effective Date, and shall, unless otherwise earlier terminated by University under Section 10.02 or by XYZ under Section 9, continue in full force and effect until the Initial License Fee has been paid pursuant to Section 2 hereof, whereupon this Agreement shall expire. 10.02. University shall have a right forthwith to terminate this Agreement in any of the following events: if XYZ fails to pay the Option Fee during the Option Period; if XYZ fails to exercise the Option by the end of the Option Period; if XYZ abandons the Option pursuant to Section 9; if XYZ for itself or through any third party contests the validity of any of the Patents included in the University Technology or assists any third party in contesting the validity of any of such Patents, except to the extent that such contest or assistance is not permissible under applicable law; if XYZ becomes insolvent or admits in writing its inability to pay its debts as the same nature or make an assignment for the benefit of creditors; if any proceeding is instituted by or against XYZ seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of XYZ or its debts or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for XYZ or for any substantial part of its property and assets; or if XYZ assigns or attempts to assign this Agreement or any part thereof in violation of Section 11.01. Section 11. Miscellaneous 11.01. This Agreement and the rights granted herein shall be binding upon and inure to the benefit of University, XYZ and their respective permitted successors and assigns. XYZ shall not assign or transfer any of its rights, privileges or obligations hereunder without prior written consent of University. For the purpose of this Agreement, assignment includes (a) any sale or transfer of all or substantially all of the assets of XYZ and (b) any change in the ultimate beneficial control of XYZ, whether by way of merger, consolidation, share transfer or otherwise. Any assignment or transfer in violation of this Section 11.01 shall be null and void ab initio. 11.02. This Agreement does not in any way create a relationship of principal and agent, partnership or joint venture between the Parties. Neither Party shall under any circumstances act as, or represent itself to be, the other Party. 11.03. Any notice, report or other document required or permitted hereunder shall be written in English, and shall be sufficiently given when personally delivered, telecommunicated, electronically mailed, delivered by overnight courier or mailed prepaid first class registered or certified mail and addressed to the Party for whom it is intended at its record address, and such notice shall be effective upon receipt, if delivered personally, telecommunicated, electronically mailed or delivered by overnight courier, or shall be effective five (5) days after it is deposited in the mail, if mailed. The record addresses, facsimile numbers and E-mail addresses of the Parties are set forth below: University: 鶹AV 1-3-2 Kagamiyama Higashi-Hiroshima City Hiroshima Pref., 739-8511 Japan Attention: Fax No.: E-Mail: XYZ: Attention: Fax No.: E-Mail: Either Party, at any time, may change its previous record address, facsimile number or E-mail address by giving written notice of the substitution in accordance with the provision of this Section 11.03. 11.04. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement or portion thereof, or the application thereof to any person or circumstance or in any country contravenes a law of any country (or political subdivision thereof) in which this Agreement is effective or is held to any extent invalid or unenforceable, the remaining provisions of this Agreement (or of such provision) and the application thereof to other persons or circumstances or in other countries shall not be affected thereby, and this Agreement shall be modified with respect to its application in such jurisdiction, but not in jurisdictions where such provision is valid, to conform with such law. 11.05. No modification or amendment hereof shall be valid or binding upon the Parties, unless made in writing and duly executed on behalf of the Parties by their respective duly authorized officers. 11.06. Any failure of either Party to insist upon the strict performance of any provision hereof or to exercise any right or remedy shall not be deemed a waiver of any right or remedy with respect to any existing or subsequent breach or default. 11.07. This Agreement constitutes the entire understanding and agreement of the Parties with respect to the subject matter hereof and supersedes all prior agreements, express or implied, and oral or written. 11.08. This Agreement is to be interpreted and construed in accordance with the laws of Japan without regard to the principles of conflicts of laws. 11.09. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute a single instrument. 11.10. Except for the right of University to apply to a court of competent jurisdiction for a temporary restraining order, a preliminary injunction, or other equitable relief to preserve the status quo or to prevent irreparable harm, or as necessary to prosecute, maintain or defend the Confidential Information, any and all claims, disputes or controversies between the Parties arising under, out of, in relation to or in connection with, this Agreement or a Partys alleged breach of this Agreement, shall be resolved by final and binding arbitration upon the written notice of either Party to the other requesting such arbitration. Such arbitration shall be conducted in Tokyo, Japan. Such arbitration shall be before three (3) arbitrators and conducted under the Rules of Arbitration of the International Chamber of Commerce, unless the Parties mutually agree to use a lesser number of arbitrators. During the pendency of such arbitration, each Party shall pay its own costs and expenses and shall split equally the costs and expenses of the arbitrators and arbitration; provided that the prevailing Party in any such arbitration shall be entitled to recover from the other Party its share of the costs and expenses of the arbitrators. The arbitration shall be conducted in the English language. Any award rendered in such arbitration may be entered and enforced by either Party in any court having jurisdiction. This section shall survive the expiration or termination of this Agreement. 11.11. Neither Party shall issue any press release or other public announcement relating to this Agreement without obtaining the other Party's written approval. 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