ex10_15.htm


    
      

      

    

     

    

      Amendment
No. 1

      to
the

      SPONSORED
RESEARCH AGREEMENT

      between

      Universal
Display Corporation

      and

      The
University of Southern California

      


      This
Amendment No. 1 (this “Amendment”) shall
amend and modify, to the extent of any inconsistency, the Sponsored Research
Agreement entered into effective as of May 1, 2006, by and between Universal
Display Corporation (“UDC”) and the
University of Southern California (“USC”).  This
Amendment is deemed effective as of May 1, 2006.

      


      WHEREAS,
USC has subcontracted a portion of the Research under the Agreement to the
University of Michigan (“Michigan”);
and

      


      WHEREAS,
USC, Michigan and UDC agree to supplement the Research under the Agreement to
include a program entitled “Research on Advanced Organic Thin Film
Electroluminescent Device and Related Applications:  Add-On Task for
Investigation of Curved Focal Planes” (the “Supplemental
Program”), which program is under the ongoing direction of Dr. Stephen R.
Forrest at Michigan.

      


      NOW THEREFORE, each of the parties
hereto, intend to be legally bound, hereby agrees as follows:

      


      1. The
Research under the Agreement is supplemented to include the ongoing Supplemental
Program.  A Work Plan for the Supplemental Program is attached to this
Amendment as Exhibit A-1, which
exhibit is hereby incorporated into the Agreement by reference.

      


      2. UDC shall
pay for actual work performed on the Supplemental Program according to the
attached Work Plan for that program, up to the amounts specified in the
Supplemental Budget attached hereto as Exhibit B-1.  Exhibit B-1 is hereby
incorporated into the Agreement by reference.

      


      3. All of
the other terms and conditions of the Agreement shall remain the same and in
full force and effect.

      


      IN
WITNESS WHEREOF,
the parties hereto have executed this Amendment No. 1 by their duly authorized
representatives.

      


      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Universal
      Display Corp Corporation

                                    	 
      	
                                      The
      University of Southern California

                                    
	 
      	 
      	 
      
	
                                      By:     /s/
      Steven V. Abramson

                                    	 
      	
                                      By:      /s/
      George-Ann Cleary

                                    
	 
      	 
      	 
      
	
                                      Title:  President

                                    	 
      	
                                      Title:   Senior
      Contract & Grant Administrator

                                    
	 
      	 
      	
                                                  Department
      of Contracts and Grants

                                    
	 
      	 
      	 
      
	
                                      Date:  January
      25, 2007

                                    	 
      	
                                      Date:   1/24/2007

                                    
	 
      	 
      	 
      
	
                                      /s/ Stephen
    Forrest

                                    	 
      	
                                      Date:   1/10/07

                                    
	
                                                  Professor
      Stephen R. Forrest

                                    	 
      	 
      
	
                                                  Michigan
      Principal Investigator

                                    	 
      	 
      


                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      


      


      



      
        
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