Document:

ex_10-7.htm

    
      

      

    

    
      EXHIBIT
10.7

       

      LOCK-UP
AGREEMENT

       

      This
LOCK-UP AGREEMENT (the “Agreement”) is made
as of the ___ day of _____, 2009, by _______________ (the “Holder”), maintaining
an address at __________________________, in connection with his or its
ownership of shares of CrowdGather, Inc., a Nevada corporation (the “Company”).

       

      WHEREAS,
the Company requires substantial additional funds to effectuate its business
plan; expand its online reach and presence; develop and enhance its
technological capabilities; file, prosecute, defend, and enforce its
intellectual property rights; and hire and retain key employees;

       

      WHEREAS,
the Company has negotiated certain terms with one or more investors, who require
the execution of this Agreement as a condition precedent to their providing
funds to the Company;

       

      WHEREAS,
the holder is willing to enter into this Agreement in connection with such
investment on the terms provided herein;

       

      NOW,
THEREFORE, in consideration of these presents and for such other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, The Holder agrees as follows:

       

      1.           Background.

       

      a.           The
Holder is the beneficial owner of the amount of shares of the Common Stock,
$.001 par value, of the Company (the “Common Stock”)
designated on the signature page hereto.

       

      b.           The
Holder acknowledges that the Company has entered into or will enter into at or
about the date hereof (the “Offering”) one or
more agreements including one or more Subscription Agreements with one or more
subscribers (collectively, the “Subscribers”),
effective as of the date hereof for shares of the Company’s Series A Preferred Stock
(the “Series A Preferred”).  The Holder understands that, as a
condition to closing the Offering, the Subscribers have required, and the
Company has agreed to obtain on behalf of the Subscribers, an agreement from the
Holder to refrain from selling any securities of the Company from the initial
Closing Date1 (as that term is defined in the Subscription Agreements)
until the first anniversary thereof.  The Holder has entered into this
Agreement in order to induce the Subscribers to close the transactions
contemplated by such Subscription Agreements.

       

      2.           Sale
Restriction.

       

      a.           The
Holder hereby agrees that during the Restriction Period, without the consent of
the Required Holders (as that term is defined in the Subscription Agreements),
the Holder will not sell, transfer, or otherwise dispose of any shares of Common
Stock that the Holder owns or has a right to acquire as of the date hereof or
during the Restriction Period, other than in connection with an offer made to
all stockholders of the Company in connection with merger, consolidation, or
similar transaction involving the Company.  The Holder further agrees
that the Company is authorized to and the Company agrees to place “stop orders”
on its books to prevent any transfer of shares of Common Stock or other
securities of the Company held by the Holder in violation of this
Agreement.  The Company agrees to use commercially reasonable efforts
not to allow any transaction inconsistent with this Agreement.

       

      
        
          

        

      

      
        1           The initial Closing Date shall be the
date that not less than $1,000,000 of gross subscription proceeds are
transmitted by wire transfer or otherwise credited to or for the benefit of the
Company and each such Subscriber shall have purchased, and the Company shall
have sold to each such Subscriber, that number of shares of Series A Preferred
as are set forth next to each such Subscriber’s name on its respective
Subscription Agreement at a per-share purchase price $.35.

         

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      b.           Notwithstanding
the foregoing restrictions on transfer, the Holder may, at any time and from
time to time during the Restriction Period, transfer all or a portion of the
shares of Common Stock (i) as bona fide gifts or transfers by will or intestacy
and (ii) to any trust for the direct or indirect benefit of the undersigned or
the immediate family of the Holder, provided that any such transfer shall not
involve a disposition for value; provided, that, in the case of any gift or
transfer described in clauses (i) and (ii), each donee or transferee agrees in
writing to be bound by the terms and conditions contained herein in the same
manner as such terms and conditions apply to the undersigned.

       

      3.           Miscellaneous.

       

      a.           At
any time, and from time to time, after the signing of this Agreement, the Holder
will execute such additional instruments and take such action as may be
reasonably requested by the Subscribers to carry out the intent and purposes of
this Agreement.

       

      b.           This
Agreement shall be governed by and construed in accordance with the laws of the
State of Nevada without regard to principles of conflicts of
laws.  Any action brought by either party against the other concerning
the transactions contemplated by this Agreement shall be brought only in the
state courts of Nevada or in the federal courts located in the state of
Nevada.  The parties to this Agreement hereby irrevocably waive any
objection to jurisdiction and venue of any action instituted hereunder and shall
not assert any defense based on lack of jurisdiction or venue or based upon
forum non
conveniens.  The parties executing this Agreement
and other agreements referred to herein or delivered in connection herewith
agree to submit to the in personam jurisdiction of such courts and hereby
irrevocably waive trial by jury.  The prevailing party shall be
entitled to recover from the other party its reasonable attorney’s fees and
costs.  In the event that any provision of this Agreement or any other
agreement delivered in connection herewith is invalid or unenforceable under any
applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law.  Any such
provision which may prove invalid or unenforceable under any law shall not
affect the validity or enforceability of any other provision of any
agreement.

       

      c.           Notice to the
Company.  All notices, demands, requests, consents, approvals,
and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii)
deposited in the mail, registered or certified, return receipt requested,
postage prepaid, (iii) delivered by reputable air courier service with charges
prepaid, or (iv) transmitted by hand delivery or facsimile, addressed as set
forth below or to such other address as such party shall have specified most
recently by written notice.  Any notice or other communication
required or permitted to be given hereunder shall be deemed effective (a) upon
hand delivery or delivery by facsimile, with accurate confirmation generated by
the transmitting facsimile machine, at the address or number designated below
(if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if
delivered other than on a business day during normal business hours where such
notice is to be received) or (b) on the second business day following the date
of mailing by express courier service, fully prepaid, addressed to such address,
or upon actual receipt of such mailing, whichever shall first occur. The
addresses for such communications shall be:  (i) if to the Company,
to:  CrowdGather, Inc., 20300 Ventura Blvd., Suite 330, Woodland
Hills, California 91364, attention:  Sanjay Sabnani, CEO, with a copy
by facsimile only to:  Baker & Hostetler llp, 600 Anton Blvd.,
Suite 900, Costa Mesa, California 92626, Attention:  Randolf W. Katz,
Esq., facsimile: (714) 754-6611, (ii) if to the Holder, to: the address and
facsimile number indicated on first page of this Lock-up Agreement.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      d.           Notice to the
Holder.  The Holder hereby irrevocably waives personal service
of process and consents to process being served in any suit, action, or
proceeding in connection with this Agreement by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery)
to the Holder at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of
process and notice thereof.  Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by
law.  The Holder irrevocably appoints CrowdGather, Inc., as its true
and lawful agent for service of process upon whom all processes of law and
notices may be served and given in the manner described above; and such service
and notice shall be deemed valid personal service and notice upon the Holder
with the same force and validity as if served upon the Holder.

       

      e.           The
restrictions on transfer described in this Agreement are in addition to and
cumulative with any other restrictions on transfer otherwise agreed to by the
Holder or to which the Holder is subject to by applicable law.

       

      f.           This
Agreement shall be binding upon the Holder, its legal representatives,
successors, and assigns.

       

      g.           This
Agreement may be signed and delivered by facsimile and such facsimile signed and
delivered shall be enforceable.

       

      h.           The
Company agrees not to take any action or allow any act to be taken that would be
inconsistent with this Agreement.

       

      i.           The
Holder acknowledges that this Lock-up Agreement is being entered into for the
benefit of the Subscribers identified in the Subscription Agreements dated
between the date hereof and July 15, 2009, among the Company and the
Subscribers, may be enforced by the Subscribers and may not be amended without
the written consent of Subscribers then-holding a majority of the Series A
Preferred shares issued by the Company in the Offering, which consent may be
withheld, delayed, or denied for any reason or for no reason.

       

      [Signatures
on following page.]

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      IN WITNESS WHEREOF, and
intending to be legally bound hereby, the Holder has executed this Agreement as
of the day and year first above written.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    	 	
                                                            THE
    HOLDER:

                                                          	 
	 	 	 	 
	
                                                             

                                                          	
                                                             

                                                          	 	 
	 	 	Name of the
      Holder	 
	 	 	 	 
	 	 	 	 
	 	 	Number of Shares of
      Common Stock Actually Owned	 
	 	 	 	 
	 	 	 	 
	 	 	

                                                            Number
      of Shares of Common Stock Beneficially Owned, if different than Number of
      Shares Actually Owned (Describe such shares and related instruments on
      next page.)

                                                          	 

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                   

                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              	 	
                                                                                      

                                                                                        THE
      COMPANY:

                                                                                      

                                                                                    	 
	 	 	 	 
	CrowdGather,
      Inc., a Nevada corporation	 	 	 
	
                                                                                       

                                                                                    	
                                                                                      By:

                                                                                    	 	 
	

                                                                                      

                                                                                        Sanjay
      Sabnani, its Chief Executive Officer

                                                                                      

                                                                                    	 	 	 

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
          
          

        

        
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      AMENDMENT
TO LOCK-UP AGREEMENT

       

      This
AMENDMENT TO LOCK-UP AGREEMENT (the “Amendment”) is made
as of the ___ day of _____, 2009, by _______________ (the “Holder”), maintaining
an address at __________________________, in connection with the previously
executed Lock-Up Agreement (the “Lock-Up Agreement”)
relating to shares of CrowdGather, Inc., a Nevada corporation (the “Company”).

       

      WHEREAS,
the Company has negotiated certain terms with one or more investors, which terms
relate to their purchase of debt instruments and warrants for the purchase of
equity of the Company, rather than a purchase of preferred equity of the
Company;

       

      WHEREAS,
the Holder previously executed and delivered to the Company a Lock-Up Agreement
in contemplation of such preferred equity transaction;

       

      NOW,
THEREFORE, in consideration of these presents and for such other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, The Holder agrees as follows:

       

      1.           Amendment.  All references to
“shares of the Company’s Series A Preferred Stock” or “Series A Preferred”
contained in the Lock-Up Agreement shall be deemed to refer to the “Company’s 8%
Secured Straight Convertible Debentures” and all related conforming changes,
e.g., deletion of references to
per share purchase prices, shall also be deemed to be amended
hereby.

       

      2.           Miscellaneous.

       

      a.           All
miscellaneous provisions of the Lock-Up Agreement are incorporated herein as if
set forth in full hereat.

       

      b.           Except
as set forth herein, no other provisions of the Lock-Up Agreement are being
amended hereby.

       

      c.           This
Amendment shall be binding upon the Holder, its legal representatives,
successors, and assigns.

       

      IN WITNESS WHEREOF, and intending to be
legally bound hereby, the Holder has executed this Amendment as of the day and
year first above written.

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	 	
                                                              THE
    HOLDER:

                                                            	 
	 	 	 	 
	
                                                               

                                                            	
                                                               

                                                            	 	 
	 	 	Name of the
      Holder	 
	 	 	 	 
	 	 	 	 
	 	 	Number of Shares of
      Common Stock Actually Owned	 
	 	 	 	 
	 	 	 	 
	 	 	

                                                              Number
      of Shares of Common Stock Beneficially Owned, if different than Number of
      Shares Actually Owned (Describe such shares and related instruments on
      next page.)

                                                            	 

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                     

                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    	 	
                                                                                            

                                                                                              THE
      COMPANY:

                                                                                            

                                                                                          	 
	 	 	 
	 	

                                                                                            CrowdGather,
      Inc., a Nevada corporation

                                                                                          	 
	 	 	 	 
	 	 	 	 
	
                                                                                             

                                                                                          	
                                                                                            By:

                                                                                          	 	 
	

                                                                                            

                                                                                               

                                                                                            

                                                                                          	 	

                                                                                            Sanjay
      Sabnani, its Chief Executive Officer

                                                                                          	 

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

         

      

       

      5ex10_1.htm

Exhibit 10.1

 

Confidential Treatment-Redacted Copy

CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE
BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOUR (4) ASTERISKS [***].

 

RESEARCH AGREEMENT

BY AND BETWEEN

NEW ENERGY SOLAR CORPORATION

AND

THE UNIVERSITY OF SOUTH FLORIDA

 

 

 

THIS RESEARCH AGREEMENT IS MADE AND ENTERED INTO BY AND BETWEEN NEW ENERGY SOLAR COPRORATION (a wholly owned subsidiary of New Energy technologies, Inc.), a corporation having a place of business located at 8875 Hidden River Parkway, Suite 300, Tampa, FL 33637 (“New Energy”),
and the University of South Florida Board of Trustees, a public body corporate ("University"), for support to the project entitled “(Semitransparent Flexible Power Foil (SFPF))”.  For consideration of the mutual promises, covenants, and obligations contained herein, New Energy hereby retains the University to undertake certain
activities described in Attachment 1. The parties agree as follows:

I.  PERIOD OF PERFORMANCE

****

II.  WORK PLAN / PROJECT ADMINISTRATION

The University shall perform the activities described in Attachment 1 and will   comply with all statutory requirements and applicable regulations in the conduct of the project.

The University agrees that such activities will be directed by:

The University Project Director:

Dr. Xiaomei Jiang

University of South Florida

  

1

  

Confidential Treatment-Redacted Copy

PHYSICS DEPARTMENT

4202 E. FOWLER AVENUE

Tampa, FL 33830

(813) 974-7765

(813) 974-5813 (fax)

Jiang, Xiaomei [xjiang@cas.usf.edu]

The University Administrative Contact:

Shanna Hunt

Sponsored Research Administrator

University of South Florida

Division of Sponsored Research

3650 Spectrum Blvd Ste 160

Tampa, FL 33612-9446

(813) 974-7971

(813) 974-4962 (fax)

shunt@research.usf.edu

NEW ENERGY Representatives:

Project Director:

Meetesh V. Patel, Esq.

New Energy Solar Corporation

8875 Hidden River Parkway, Suite 300

Tampa, FL 33637

(800) 213-0689

(866) 266-0419 (fax)

mpatel@newenergytek.com

Administrative Contact:

Meetesh V. Patel, Esq.

New Energy Technologies, Inc.

1050 Connecticut Avenue, NW

10th Floor

Washington, DC 20036

(800) 213-0689

(8660 266-0419 (fax)

mpatel@newenergytek.com

All deliverables/invoices submitted by the University must be approved in writing by New Energy’s Project Director prior to payment by New Energy to the University.

  

2

  

Confidential Treatment-Redacted Copy

III.  ALLOCATION OF FUNDS

New Energy agrees to compensate the University as per Attachment 2, ****. It is further agreed that all invoices should contain an original signature of an authorized official
of the University and should be sent to New Energy’s Project Director for approval (see Article II for the address).  Invoices shall be submitted to New Energy on a monthly basis. Payments shall be remitted to:

University of South Florida

University Controller’s Office

Cashier’s Office

4202 E. Fowler Ave., ADM 147

Tampa, FL  33620

 

IV.  PAYMENT RESPONSIBILITIES

New Energy shall issue payment in U.S. dollars within 30 days after receipt of an acceptable invoice and receipt, inspection, and acceptance of goods and/or services provided in accordance with the terms and conditions of this Agreement.

V.  INDEPENDENT CONTRACTOR

The relationship of the parties is that of mutually independent contractors.  Each party and its officers, employees, agents, subcontractors, or other contractors shall not be deemed by virtue of this Agreement to be the officers, agents, or employees of the other party.  Each party assumes the risk of all liability
arising from its respective activities pursuant to this Agreement and from the acts or omissions of its respective officers, agents, and employees.

VI.  TERMINATION

This Agreement may be canceled by either party upon no less than thirty (30) days written notice, with or without cause; notice shall be delivered by certified mail, return receipt requested, or in person with proof of delivery.  In case of cancellation, only the percent of satisfactory progress actually achieved to the date
of cancellation will be due and payable to the University and University will refund to New Energy any unused funds that it may have in escrow.

In the event that University’s Project Director becomes unable or unwilling to continue the project activities hereunder, and a mutually acceptable substitute is not available, New Energy shall have the option to cancel
this Agreement.

 

VII.  PUBLICITY

Neither party shall use the name of the other party, nor of any employees of the parties, in any publicity, advertising, or news release without the prior written approval of an authorized representative of that party.

  

3

  

Confidential Treatment-Redacted Copy

Under the provisions of Florida Statute 1004.22, the University shall make available, upon request, the title and description of a research project, the name of the researcher, and the amount and source of funding provided for the project.

University acknowledges that New Energy is a wholly owned subsidiary of a corporation having a reporting obligation under the Securities Exchange Act of 1934, as amended, which has or may have certain disclosure and filing obligations
under applicable law, including but not limited to the public announcement and disclosure of this Agreement and the filing of the same with the United States Securities and Exchange Commission; it is acknowledged and agreed that such disclosure and filing shall not be deemed a violation of this Agreement.

 

VIII.  CONFIDENTIALITY

In the course of performing work under this Agreement, it may be necessary for either party to disclose to the other certain confidential and/or proprietary information or data. All such confidential information will be clearly identified in writing as confidential, or if given orally, will be reduced to writing within thirty (30) days.
Each party agrees to hold the other’s confidential information in confidence from date of disclosure until five (5) years from the date such confidential information is either returned to the disclosing party or destroyed as requested by the party. The parties shall take reasonable precautions to avoid disclosure, publication or dissemination of such confidential information and to use such confidential information only in connection with the project. No obligation of confidentiality applies to any information
which was already in the receiving party’s possession prior to its receipt from the disclosing party; becomes publicly known or available through no breach of this Agreement by the receiving party; is acquired by the receiving party from a third party without notice or restrictions of confidentiality; is independently developed by the receiving party’s personnel to whom the providing party’s confidential information had not been disclosed; or is required to be disclosed by law or governmental
regulation, in which case both parties will work together in order to comply with such request.

This Agreement and the contents hereof constitute a confidential business relationship between the parties.  Each party acknowledges that significant damage could be done to the other one should the terms of this Agreement become public knowledge.  Both parties agree that they will not reveal the terms of this Agreement
to any third party (excluding agents, attorneys, representatives and others with whom they have a legal obligation to disclose, including, but not limited to, government agencies and regulatory authorities) except within the restrictive confines of a Confidentiality Agreement, and that they will exercise reasonable precautions to insure that neither they nor their employees or agents shall allow the terms of the Agreement to become public knowledge.

 

IX.  PUBLICATIONS

****

  

4

  

Confidential Treatment-Redacted Copy

X.  INTELLECTUAL PROPERTY

University agrees that the University Project Director will promptly disclose all intellectual property generated during the course of this Agreement to its Division of Patents & Licensing in accordance with the Statement
of Policies and Procedures for Inventions and Works (0-300), and the Division of Patents & Licensing will promptly disclose such intellectual property to New Energy.  Inventorship shall be determined in accordance with U.S. Patent law and ownership shall follow inventorship.  Intellectual property, inventions, improvements and/or discoveries, whether or not patentable or copyrightable, which are conceived and/or made while performing
this project and during the course of this Agreement, covered under Attachment 1 in which there is at least one inventor of University and one inventor of New Energy, whether or not utilized or otherwise incorporated into this project, shall be jointly owned by University and New Energy.

The parties agree that any existing background intellectual property and/or inventions and technologies of New Energy, the University, the University Project Director
or University employees existing prior to the execution of this Agreement are their own separate property, respectively, and are not affected by this Agreement.  Neither party shall acquire any claims to or rights in any background intellectual property and/or technologies in existence prior to the execution date of this Agreement.

XI.  GOVERNING LAW

This Agreement shall be governed and construed in accordance with the laws of the State of New York.

XII.  INSURANCE

University assumes all risk of personal injury and property damage arising from its activities pursuant to this Agreement that are attributable to the negligent acts or omissions of University and its officers, agents, and employees
while acting within the scope of their employment by University.  This statement shall not be construed or interpreted as consent by University to be sued except as provided by Florida law or as a waiver of University’s sovereign immunity beyond that provided in Section 768.28, Florida Statutes.

XIII.  DELEGATION OF AUTHORITY

This Agreement is valid and enforceable only upon being signed by persons authorized to bind the University hereto, and by all persons required by Florida law or University policy to sign an agreement of this nature in order
to bind the University hereto.

XIV.   CONTINUAL UPDATES ON PROGRESS OF RESEARCH

The University Project Director shall provide ongoing written progress reports to New Energy on a monthly basis and a comprehensive written research report due on the final calendar day of each calendar quarter. The University Project Director shall provide to New
Energy information related to experiments and/or new news related to ongoing research that may be disseminated to New Energy’s stakeholders.

  

5

  

Confidential Treatment-Redacted Copy

SIGNATURE PAGE FOLLOWS

IN WITNESS WHEREOF, the parties have caused this Agreement, which includes Attachments 1 and 2, to be executed by their undersigned duly authorized officials.

University of South Florida

Board of Trustees, a public body corporate

	
Reviewed by:
	
SIGNED BY:

	  	  	  	  
	  	  	  	  
	
Dr. Xiaomei Jiang
	
Diego Vazquez, Director

	
University Project Director
	
Division of Sponsored Research

SGS Review:

_________

New Energy Solar Corporation

____________________________

Meetesh V. Patel, Esq.

President

  

6

  

Confidential Treatment-Redacted Copy

ATTACHMENT 1

SCOPE OF WORK

Development of Semitransparent Flexible Power Foil (SFPF) for smart window technology

Research Team:

PI: Dr. X. Jiang

Senior Scientist: Dr. Zhang

Graduate Student: Jason Lewis

University of South Florida

1. Overall Objective

****

2. Background

****

3. Novelty of the SFPF based Solar Array

	
  
	
·
	
****

	
  
	
·
	
****

	
  
	
·
	
****

	
  
	
·
	
****

4. Plan of Work

Stage 1: ****

Goal:

****

Stage 2: ****

Goal:

****

Stage 3: ****

Goal:

 

****

  

7

  

Confidential Treatment-Redacted Copy

Stage 4: ****)

Goal:

****

 

5. Reporting Requirements

Principal Investigator will promptly man an Invention Disclosure Report to New Energy with respect to any new and useful process, machine, manufacture or composition of matter conceived and reduced to practice, during the term of this Agreement in the performance of research associated
with SFPF.

As per Section XIV of this agreement, Principal investigator will furnish monthly progress reports to New Energy on a monthly basis. In addition to the progress reports, as agreed to by New Energy and the Project Director,
the Project Director shall provide New Energy information on experiments or new news related to the ongoing research so that New Energy can keep its shareholders apprised of the progress of the research.

 

ATTACHMENT 2

METHOD OF PAYMENT

[Include here invoicing instructions; invoicing schedule; contact name and address to whom invoices should be mailed; include all reports/deliverables due with the invoices]

****

Payments will be made to the University upon presentation of an Invoice by the Principal based upon the following schedule:

****

Justification for Budget Proposal

1. Direct labor

****

2. Fringe and Benefit

****

3. Travel

****

4. Other direct cost

****

5. Indirect costs.

****

 

 

8

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