Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 32

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 32
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I License Agreement, we are required to pay an annual minimum royalty of $20,000 to RFI. Additionally, we are required to
sell and deliver SPD Emulsions to RFI at our direct cost, without mark-up or overhead, and to sell and deliver to RFI Light Valve
Film or components thereof at our lowest price given to a third party. RFI may re-sell any such products to third parties, for
research and development, proof of concept or other purposes, at a price equal to the purchase price paid by RFI to us for such
products (i. e., with no additional markup), plus shipping, overhead, administrative and related costs.

RFI may terminate the Gauzy/RFI
License Agreement upon 30 days’ notice due to our breach or non-payment. In the event that we have ceased general operations or
ceased work relating to SPD film, RFI’s right to terminate the Gauzy/RFI License Agreement for convenience will be reinstated as
of December 31, 2023, upon 30 days’ notice.

Vision System/RFI License Agreement

In January 2010, Vision Systems
entered into a license agreement with RFI for certain technologies regarding the use of information and patents relating to its Light
Valve technology, or the VS/RFI License Agreement. Pursuant to the VS/RFI License Agreement, as subsequently amended, Vision Systems
was granted a non-exclusive, worldwide, royalty-bearing license to use, make, lease, sell, or otherwise dispose of window products incorporating
Light Valve used in aircrafts, marine vehicles, non-military transportation vehicles and architecture.

Under the terms of the VS/RFI
License Agreement, Vision Systems is obligated to pay RFI 15% of the net selling price of products it sells. The royalty payment is subject
to reductions due to reduced price or return of products but shall be no less than $150,000 for each license year beginning in 2015.
In addition, RFI may terminate the VS/RFI License Agreement (x) upon delivery of 60 to 90 days’ notice, or at least one years’
notice if Vision Systems is producing and selling the licensed products in accordance with the agreement, or (y) upon 30 days’
notice due to Vision System’s breach, non-payment, repeated providing of inaccurate reports or cessation of general operations
or of work related to the licensed products.

Board Appointment to Research Frontiers,