Document:

Exhibit 10.1

 

AMENDMENT TO THE LICENSE AGREEMENT

 

This AMENDMENT TO THE LICENSE
AGREEMENT (the “Amendment”) is made and entered into by and between STMicroelectronics N.V., a Dutch corporation (“ST”), and APOGEE Technology Inc., a Delaware corporation (“Apogee”).

 

Capitalized
terms used herein shall have the meaning ascribed to them in the License
Agreement, unless otherwise specifically defined otherwise herein.

 

WHEREAS,

 

ST
and Apogee are parties to that certain license agreement dated the 2nd
of February 2001, as amended (the “Agreement”), pursuant to which Apogee has
granted to ST and its Affiliates a license under certain audio amplification
related intellectual property rights, as better described in said Agreement;

 

ST
and Apogee now desire to amend the Agreement in accordance with the provisions
hereof.

 

NOW THEREFORE, in furtherance of the foregoing recitals and for good and valuable
considerations, ST and Apogee hereby agree to amend the License Agreement as
follows:

 

1.     EXCLUSIVITY

 

(a)   DDX Technology: With respect only
to the DDX Technology (as defined in Exhibit 2 to the Agreement), ST hereby
agrees to release Apogee from the exclusivity obligation and covenant
undertaken by Apogee in Section 2.1 of the Agreement

 

The Agreement shall be deemed amended accordingly,
effective as of the effective date of this Amendment.

 

(b)   Full digital Audio Path: Apogee hereby
agrees to release ST from the exclusivity obligation and covenant undertaken by
ST in Section 2.6 of the Agreement, which is hereby cancelled and deleted.

 

The Agreement shall be deemed amended accordingly,
effective as of the effective date of this Amendment.

 

2.     [**********]

 

Apogee
hereby guarantees and shall ensure that, at all applicable times,
[********************] are offered the [***************************
************] for the Licensed Technology [*****************************
******************]. For purposes of the foregoing, [********************
*******] means that Apogee represents, warrants and covenants that the [*************************************************]
for the Licensed

 

Portions of this Exhibit were omitted and have been filed separately
with the Secretary of the Commission pursuant to the Company’s application
requesting confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934.

 

 

Technology provided to [**]
under the Agreement (as amended) are, and shall remain, at all applicable
times, [**************************************
********************************************************] licensing the
Licensed Technology for a
[************************* ****************].

 

3.     ROYALTY SCHEME

 

3.1   Each of the Parties hereby agrees to amend
and modify the royalty scheme and certain related provisions set out in Section
4 of the Agreement, and accordingly:

 

(a)   The provisions stated in Section 4.3 of the
Agreement are hereby replaced and superceded by, and shall now read as follows:

 

“4.3

 

4.3.1 With respect to Products other than power-based
Products: ST shall pay to Apogee a royalty equal to the[********************************]:

 

Royalty =[********************]
%,

 

or

 

[********************************************************];

 

or

 

[*****************************************]

 

The term
[****************************************************** *********************************************************************************************].

 

For
example for non [**********] Products, if the
[***********************], Apogee would receive a royalty of
[*************************************************************].  If the [***************************], Apogee
would receive a minimum royalty of [***************************************],
and if the [*********************************] Apogee would receive a Royalty
of [***************************************].

 

4.3.2 With respect to power-based Products:
ST shall pay to Apogee the following royalty, which shall be calculated on Net
Sales Price of such power-based Products: [***********************************
*******************************], and (ii) [**************** **************]
and thereafter except for the [************
*************************************************************] %.

 

4.3.3 For purposes of the foregoing, “power-based
Products” shall mean Products having a total capability greater than one (1)
watt.”

[End of Section 4.3, as amended]

 

Portions of this Exhibit were omitted and have been filed separately
with the Secretary of the Commission pursuant to the Company’s application
requesting confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934.

 

 

 

(b)   The reports and payments referred to in
Section 4.5 of the Agreement shall be made on a calendar quarter basis, and the
definition of “Quarter” in said Section 4.5 shall be deemed amended accordingly
(i.e., it shall mean: March 31, June 30, September 30, or December 31).

 

(c)   The Provisions in Section 4.7 of the
Agreement [*****************] are hereby deleted and cancelled, and shall be of
no further effect whatsoever.

 

3.2   The Agreement shall be deemed amended accordingly,
effective as of the effective date of this Amendment.

 

4.     [*****************]

 

Each of the Parties hereby agrees to delete the
provisions in the first paragraph of Section 11.2 of the Agreement
[***************************************]. 
However, the
second paragraph of Section 11.2 shall remain in full force and effect, and
accordingly Apogee shall promptly notify ST in writing of any
[******************************************

***************] at least thirty (30) business days before the effective date
of any such [****************]. For the further avoidance of doubt, it is
hereby understood and agreed between the Parties that the provisions in Section
11.1 of the Agreement shall not be affected by the foregoing and shall remain
in full force and effect [**************************************].

 

5.     SCOPE OF THIS AGREEMENT

 

(a)   Each of the Parties hereby expressly agrees
that (i) the provisions in sections 1 and 4 hereof shall enter into force and
become effective retroactively as of the 1st of January 2005, and
(ii) the provisions in sections 2 and 3 hereof shall enter into force and
become effective retroactively as of the 1st of January 2004.

 

(b)   All of the terms and conditions of the
Agreement that are not specifically modified hereby, shall remain unchanged and
of full effect.

 

IN
WITNESS WHEREOF, ST and Apogee have caused this Amendment to be
executed by their duly authorized representatives.

 

	
   

  	
  For APOGEE Technology Inc.

  	
  For STMicroelectronics NV

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Herbert M. Stein

  	
   

  	
  By:

  	
  /s/ Philippe Geyres

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Herbert M. Stein

  	
   

  	
  Name: 

  	
  Philippe Geyres

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Chief Executive Officer

  	
   

  	
  Title:

  	
  Executive Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  May 24, 2005

  	
   

  	
  Date:

  	
  April 25, 2005

  	
   

  
															

 

Portions of this Exhibit were omitted and have been filed separately
with the Secretary of the Commission pursuant to the Company’s application
requesting confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934.Exhibit 10.2

 

PROMISSORY
NOTE

 

	
  $250,000.00

  	
   

  	
  Norwood,
  Massachusetts

  
	
   

  	
   

  	
  May 9,
  2005

  

 

FOR VALUE RECEIVED, Apogee Technology, Inc.,
a Delaware corporation (the “Borrower”‘), hereby promises to pay to David
Spiegel (“Lender”), at such place as the holder of this Note may from time to
time designate in writing, the principal sum of

 

Two hundred fifty
thousand AND 00/100 DOLLARS ($250,000.00)

 

with interest on the outstanding balance thereof from the date hereof
at an annual rate which is equal to six percent (6%) per annum, (such interest
to be paid monthly in arrears).

 

The outstanding principal balance and any
accrued and unpaid interest thereon shall be due and payable UPON DEMAND.

 

Interest shall be calculated on the basis of
a three hundred sixty (360) day year, but interest shall accrue and be payable
on the actual number of days in each month. 
Interest after maturity shall be payable on demand at an annual rate
(the “Default Rate”) which shall be equal to four (4) percentage points
above the rate of interest payable during the term of this Note, compounded
monthly and otherwise payable in the manner hereinabove set forth.

 

This Note may be prepaid in whole or in part
without premium or penalty.

 

The Borrower agrees to pay all costs of suit
and other expenses of collection, including reasonable fees and expenses of
attorneys, in the event that this Note is placed in the hands of any attorney
for collection or suit is brought thereon.

 

The Borrower hereby waives presentment,
protest and demand, notice of protest, demand and dishonor and non-payment of
this Note, and to the extent permitted by law, waives and releases all rights
of redemption, valuation, appraisement, notice of election to mature or to
declare due the whole of the indebtedness evidenced hereby, and to the extent
permitted by law, errors, defects and imperfections in any proceedings
instituted by the holder under the terms of this Note, or providing for any
stay of execution, exemption from civil process, or extension of time for
payment.  Further, Borrower agrees that
its liability hereunder shall remain unimpaired, notwithstanding any extension
of the time of payment or other indulgence granted by the holder, or the
release of all or any part of such security for the liability of any party which
may assume the obligation to make payment of the indebtedness evidenced hereby,
or the performance and the obligations of the Borrower hereof under this
Note.  In no event shall the holder, by
any act of omission or commission, be deemed to waive any of its rights or
remedies hereunder unless such waiver shall be in writing and signed by the
holder, and then only to the extent specifically set forth therein; and a
waiver of any one event shall not be construed as continuing or as a bar to or
waiver of such right or remedy on a subsequent event.  The Borrower further acknowledges that this
Note represents an independent 

 

 

obligation and shall not be
subject to setoff, reduction or deduction on account of any claims,
liabilities, obligations or debts of the holder to the Borrower.

 

If any provisions hereof or the application
thereof to any person or circumstances shall to any extent be invalid or
unenforceable, the remainder hereof, or the application of such provision to
persons, or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby, and each provision hereof shall
be valid and enforced to the fullest extent permitted by law.  If at any time during the term of this Note
or after maturity the effective interest rate hereunder is greater than the
maximum interest rate permitted by applicable law, the interest rate hereunder
shall automatically be such maximum interest rate permitted by applicable law.
This Note is unsecured.

 

As used herein, the word “holder” shall mean
Lender as payee of the Note, or any endorsee of this Note in possession hereof,
or the bearer hereof if this Note is at the time payable to the bearer.

 

This Note, being executed and delivered in
Norwood, Massachusetts, is to be construed according to and governed by the law
of The Commonwealth of Massachusetts.

 

Borrower
represents that this note as well as the execution and delivery thereof has
been 

authorized
by all necessary actions of the borrower.

 

 

EXECUTED as a sealed instrument, as of the day and year first above
written.

 

	
   

  	
  APOGEE TECHNOLOGY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  //s//

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  //s//

  	
   

  
	
   

  	
  David Spiegel

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