Document:

Unassociated Document

SEPARATION AGREEMENT AND RELEASE

 

	  	
This Separation Agreement and Release (the “Separation Agreement”) is made this 1st day of June, 2012 by and between Inspire MD Ltd. (the “Company”) and OSH-IL, The Israeli Society of Occupational Safety & Health Ltd., Company No. 513308247 (“Consultant”).

	  	  
	  	
WHEREAS, as of May 2005 the Key Person has been engaged by the Company, first as an employee and starting April 1st, 2011 as its President and independent consultant through the Consultant, which is an Israeli corporation wholly controlled by the Key Person, under that certain Consultancy Agreement (the “Agreement”), a copy of which is attached as Exhibit  A hereto;

	  	  
	  	
WHEREAS, Consultant informed the Company of its desire to cease providing the Services and resign from all of its and the Key Person's offices in the Company;

	  	  
	  	
WHEREAS, due to the Consultant's aforesaid desire the parties have mutually agreed to terminate the Agreement effective as of June 1, 2012 (the “Effective Date”) pursuant to the terms and conditions hereto;

	  	  
	  	
WHEREAS, Consultant has agreed to release the Company from any and all claims, rights or demands arising from or related to the Agreement, the relations between the parties or the termination thereof;

	  	  
	  	
NOW THEREFORE, in consideration of the mutual promises made herein, the Consultant and Company hereby agree as follows:

	  	  
	  	
(Capitalized terms used herein and not otherwise defined shall have the respective meaning ascribed to them in the Agreement.)

	  	  
	
1.

	
Termination of Agreement.

	  	  
	
1.1.

	
The parties hereby terminate the Agreement and the engagement between them in mutual consent and effective as of the Effective Date.

	  	  
	
1.2.

	
As part of the termination of the Agreement (i) the Key Person hereby resigns from its offices as the President of the Company and member of its Board of Directors; and (ii) upon the Company's request, the Consultant and Key Person shall take all necessary actions in a timely manner to transfer all the information they possess on the Company to the Company's CEO or other person(s) designated by the Company's CEO, who will assume the Consultant's and Key Person's responsibilities.

 

  

  

  

 

	
2.

	
Release  of  Claims.

	  	  
	
2.1.

	
By signing this Termination Agreement, the Consultant confirms that it has fully received from the Company all the payments and other rights to which it has been entitled from the inception of the Company and until June 1, 2012, including in connection with the Services and the employment of the Key Person by the Company as provided herein and particularly:

 

	  	
2.1.1

	
Consultancy Fee under the Agreement and any previous salary for the period until June 1st, 2012;

	  	  	  
	  	
2.1.2

	
Payment for unused absent days under Section 1.3 of the Agreement;

	  	  	  
	  	
2.1.3

	
Reimbursement of any costs or expenses incurred by the Consultant and/or the Key Person in connection with their engagement with the Company and its mother company;

	  	  	  
	  	
2.1.4

	
Any prior notice for the termination of the Agreement despite anything to the contrary in the Agreement and in any applicable law;

 

	  	
The Consultant and Key Person acknowledge that the payments of the funds and other rights as aforesaid have been in full satisfaction of any obligation of the Company, Inspire GmbH and InspireMD, Inc. (the “Affiliates”) to Consultant and Key Person, including under the Agreement and the Company has no further obligation to the Consultant whatsoever.

	  	  
	
2.2

	
Each of the Consultant and Key Person hereby irrevocable releases and forever discharges the Company, the Affiliates and its officers, directors, employees, managers, agents, investors, shareholders, representatives, predecessor and successor corporations, and assigns (the “Company's Releasees”) from, and agrees not to sue concerning, or, in any manner to institute, prosecute or pursue, any claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, disclosed or undisclosed, liquidated or contingent, that Consultant or Key Person may possess against any of the Company's Releasees arising from any omissions, acts or facts that have occurred up until and including the date hereof including without limitation any and all claims or demands, directly or indirectly, relating to or arising out of the Agreement or Consultant's or Key Person’s relationship with the Company, the termination of the Agreement and that relationship, including without limitation negligent, breach of contract, loss of profits and good will and the existence (which is denied) of labor relations between the parties as of April 1, 2011 until the Effective Date. The release included in this paragraph shall not apply to any cause the Key Person may have against InspireMD Inc. in his capacity as InspireMD Inc.'s shareholder.

 

  

  

  

 

	  	
Subject to any applicable law, the Company hereby and forever releases the Consultant and Key Person (the “Consultant's Releasees”) from, and agrees not to sue concerning, or, in any manner to institute, prosecute or pursue, any claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind known to the Company on the date hereof, liquidated or contingent, that the Company may possess against any of the Consultant's Releasees arising from any omissions, acts or facts that have occurred up until and including the date hereof including without limitation any and all claims or demands, directly or indirectly, relating to or arising out of the Agreement or relationship between the parties, the termination of the Agreement and that relationship, including without limitation negligent, breach of contract, loss of profits and good will.

	  	  
	
2.3.

	
The parties acknowledge and agree that any breach of this Section 2 shall constitute a material breach of the Separation Agreement.

	  	  
	
3.

	
Survival  of  Obligations  and  Return  of  Company's  Property.

	  	  
	
3.1.

	
The termination of the Agreement shall not reveal the Consultant and Key Person from continue fulfilling their obligations under the Agreement which by their nature or as set forth in the Agreement are intended to survive the termination of the Agreement, including Sections 4 (Independent Contractor), 5 (Confidentiality), 6 (Creations and Inventions), 7 (Non-competition and Non-Solicitation), 8 (Miscellaneous) and Annex A (Undertaking) to the Agreement, all of which shall continue to bind the Consultant and Key Person without any change.

	  	  
	
3.2.

	
Consultant shall deliver to the Company on or before the Effective Date, and shall not keep in its possession, recreate or deliver to anyone else, any and all equipment, devices, records, data, notes, marketing materials, reports, e-mail messages, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, reproductions of any aforementioned items, or electronically stored or accessible copies or versions of such items, which were provided to the Consultant or Key Person by the Company or developed or obtained by the Consultant and Key Person in connection with their relation with the Company.

	  	  
	  	
4.   Non-Disparagement

	  	
The parties mutually agree that the terms of the termination of the Agreement are amicable and mutually acceptable and each agree with the other that neither shall malign, defame, blame, or otherwise disparage the other, either publicly or privately regarding the past or future business or personal affairs of the other party, or any other officer, director or employee of such party.

	  	  
	  	
5.   General

	  	  
	
5.1.

	
Save for that certain Consulting Agreement between the Key Person and InspireMD, Inc., dated of even date, this Separation Agreement supersedes and replaces all previous oral and written agreements or communications regarding the termination of the Agreement and the events leading thereto and associated therewith.

 

  

  

  

 

	
5.2.

	
In the event that any provision or any portion of any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision or portion of provision, unless the absence of that provision or portion materially alters the rights and obligations of the signatories under this Separation Agreement.

	  	  
	
5.3.

	
This Separation Agreement may only be amended in writing signed by both parties.

	  	  
	
5.4.

	
This Separation Agreement shall be governed by and construed according to the laws of the State of Israel and any dispute arising under or in connection with this Separation Agreement shall be presented in and determined by the courts of Israel at Tel Aviv, exclusively, to whose sole jurisdiction the parties do hereby submit.

	  	  
	
5.5.

	
All notices, demands or other communications by either party to the other shall be in writing and shall be effective upon personal delivery or if sent by (i) mail seven days after deposited in the mail, first class postage, prepaid, Register or Certified; or (ii) by fax or email 1 business day (Sunday to Thursday) and all such notices given by mail, fax or email shall be sent and addressed as follows until such time as another address or fax number is given by notice pursuant to this provision.

 

 

	If to Company:	 	If to Consultant / Key Person:
	 	 	 
	Inspire Ltd.	 	Bar Giura 8 St., Raanana
	

4 Menorat Hamaor St., Tel Aviv

	 	

 

Israel

	Israel	 	 
	 	 	 
	Attention: Mr. Ofir Paz	 	Attention: Dr. Asher Holzer
	Fax No.: +972-3-6917692	 	Email: asherh@netvision.net.il
	

Email:ofir@inspiremd.com

	 	 

                                                                            

[remainder of page intentionally left blank; signature page to follow]

 

  

  

  

 

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written.

	 	 	 
	 	 	 
	Inspire MD Ltd.	 	OSH-IL, The Israeli Society of Occupational Safety & Health Ltd
	 	 	 
	By:	/s/ Ofir Paz	 	By:  	/s/ Asher Holzer
	 	 	 
	Name:  	Ofir Paz	 	Name:   	Asher Holzer
	 	 	 
	Title:	CEO	 	Title:	 

 

Undertaking

 

I the undersigned, Dr. Asher Holzer, hereby acknowledge that I read and fully understtod the Termination Agreement to which this Undertaking is attached and agree that it shall bind me personally for all matter and purpose as if I was a party thereto.

 

/s/ Asher Holzer

 

Dr. Asher Holzer

 

Date: June 1st, 2012

 

  

  

  

 

EXHIBIT AExhibit 10.05 - February 22, 2012 Exclusive License and Use
Agreement for the United States of America, Canada and Mexico
between Green Ecology and Sunrise Technology

EXCLUSIVE LICENSE AND USE AGREEMENT FOR THE UNITED STATES OF
AMERICA, CANADA AND MEXICO

This Exclusive License and Use Agreement for the United States
of America, Canada and Mexico (thetthis "Agreement") is
made and effective as of February 22,2012 (the "Effective
Date"), between Green Ecology Co., Ltd., a foreign
cmporation with a mailing address of P.O. BOX 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin
Islands, and its shareholders, officers, affiliates, assigns and
licensors, including but not limited to E-Sunscience, Ltd.
(collectively referred to herein as "Licensor"), and
Sunrise Technology, LLC, a Michigan limited liability company
with a resident agent located at 132 North Old Woodward in
Birmingham, Michigan, and its members, managers, affiliates and
assigns (collectively referred to herein as
"Licensee"). Licensor and Licensee are collectively
referred to as the "Parties."

WlTNESSETII:

WHEREAS, Licensor is in the business of developing technology
and manufacturing limited to plastics, surface tar, waste tires
and tar pits pyrolysis facilities utilizing a range of raw
materials in the United States of America, Canada and Mexico, and
has exclusive rights to title and use in products under
protections afforded it by patent, copyright, trademark, service
marks, and other types of confidential and proprietary
information registered with the United States Patent &
Trademark Office or protected under common or statutory law, and
registered through other recognized international patent and
trademark offices. A description and identification of the
intellectual property by patent numbers or descriptions of the
other trademarks, copyrights or service marks subject to this
Agreement, and as defined by the term "Intellectual Property
Rights" in this Agreement, are attached at Exhibit A.

WHEREAS, Licensee desires to use the Intellectual Property
Rights pursuant to an exclusive license for the United States of
America, Canada and Mexico pursuant to the terms of this
Agreement for use in conjunction with its development and
operation of pyrolysis facilities.

WHEREAS, the success of the Parties to this Agreement is
directly affected by the business conduct of the Parties, and
adherence to the terms of this Agreement is a matter of mutual
importance and consequence to Licensee and Licensor.

NOW THEREFORE, in consideration of the mutual promises and
conditions set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows:

1. DEFINITIONS

(a) "Licensor's Confidential Information" shall
mean confidential and/or proprietary information relating to the
Intellectual Property Rights, as defined herein, including the
technology associated with the limited to plastics, surface tar,
waste tires and tar pits Intellectual Property Rights, and
research, development, products, processes, trade secrets,
business plans, customers, finances, and personnel data related
to the business of Licensor.

(b) "Licensee's Confidential Information" shall
mean confidential and/or proprietary information relating to the
research, development, products, processes, trade secrets,
business plans, customers, finances, and personnel data related
to the business of Licensee.

(c) "Derivatives" shall mean to plastics, surface
tar, waste tires and tar pits translation, potation,
modification, correction, addition, extension, upgrade, update,
enhancement, revision, new version, improvement, compilation,
abridgement, or other form in which the Intellectual Property
Rights may be recast, transformed, or adapted, including,
systems, processes or other items which provide.comparable or
enhanced functionality whether or not specifically based on or
derived from such Intellectual Property Rights solely within the
scope of license as set forth in Paragraph 2, below.

(d) "Licensor's Documentation" shall mean any
and all manuals, user guides, product specifications and other
documentation, owned by or licensed to Licensor, relating or
referring to the Licensor's limited to plastics, surface tar,
waste tires and tar pits pyrolysis technology.

(e) "licensor's Rights" shall mean any
Intellectual Property Rights and Derivatives, of licensor in and
to Licensor's copyrights, trademarks, service marks, patents,
work product, documentation, and/or technology.

(f) "Intellectual Propertv Rights" shall mean any
and "Licensor's Rights" aimed at the plastics,
surface tar, waste tires and tar pits Intellectual Property
Rights and Derivatives of Licensor in and to Licensor's
copyrights, trademarks, service marks, patents, work product,
documentation, and/or technology, proprietary, common law, and/or
statutory intellectual property rights, including but not limited
to, patentable materials and patent rights, copyrightable
materials and copyrights, moral right, trade secret rights,
trademark rights, service mark rights, technology, Licensor's
Documentation and any and all other proprietary rights, including
all Derivatives and Third-Party Rights.

(g) "Licensee's Rights" shall mean pyrolysis
rights of Licensee in Licensee's Confidential
Information.

(b) "Territory" shall mean the entire United States
of America, Canada and Mexico, and their respective
territories.

(i) "Third Party Rights" shall mean and all of the
proprietary third party patents, copyrights, and trade secrets
subject to the terms of this Agreement, i.e. intellectual
property associated with pyrolysis, and included as Intellectual
Property Rights relating or referring to Licensor's
technology, as identified in Exhibit B hereto.

2. SCOPE OF LICENSE:

(a) Subject to the terms and conditions set forth in this
Agreement, Licensor hereby grants to Licensee and Licensee hereby
accepts an exclusive, transferable (except as provided in Section
15) license to use the Intellectual Property Rights in the
operation of pyrolysis facilities only during the Term and in the
Territory set forth in this Agreement.

(b) Licensee agrees that this Agreement, and the corresponding
licensing rights, are limited to plastics, surface tar, waste
tires and tar pits.

(c) Licensee agrees that Licensor retains all rights and
contractual relationships for any and all licensing agreements or
any other similar agreements with its cnrrent customers.

3. LICENSEE'S ACKNOWLEDGMENT:

(a) Licensee agrees that the Licensor Rights and Licensor
Confidential Information are proprietary to Licensor and that
Licensor retains all right, title, and interest herein and
thereto, including without limitation all Intellectual Property
Rights therein and therefor, and that Licensee has no rights
therein other than as set forth in this Agreement.

4. EXAMINATION AND APPROVAL:

(a) Licensor is hereby granted the right to examine and
approve the manner in which Licensee implements and uses its
Intellectual Property Rights in the operation of facilities in
which Licensee operates or contracts with for purposes of
operating under the license granted under this Agreement, to
insure proper usage of the Intellectual Property Rights.

(b) Licensor has the right under this Agreement to produce
written notice to Licensee at the address identified herein
within fourteen (14) calendar days after any examination
contemplated under this provision of any unauthorized or improper
use of the Intellectual Property Rights. Licensee shall have a
commercially reasonable period of time to cure the unauthorized
or improper use stated by Licensor. Licensor shall exercise good
faith and fair dealing in assessing Licensee's cure, and in
the event Licensor determines that Licensee has failed to cure it
has the option to terminate this Agreement pursuant to Paragraph
13, below.

5. CONFIDENTIALITY:

(a) Withont prior written consent of the other party, the
Parties agree not to disclose any confidential information of the
other party, as defmed in Paragraph I, and to maintain such
confidential information in strictest confidence, to take all
reasonable precautions to prevent its authorized dissemination
and to n;frain from sharing any or all of the information with
any third party for any reason whatsoever except as required by
court order.

(b) The Parties agree to limit its internal distribution of
the Confidential Information of the other party only on a
"need to know" basis and solely in connection with the
performance of this Agreement, and to take steps to ensure that
the dissemination is so limited. Any and all persons that might
receive Licensor's Confidential Information or Licensee's
Confidential Information shall execute non- disclosure agreements
which degree of duty of care are no less than this Agreement, and
shall produce the executed non-disclosure agreement to the other
party within fourteen (14) days of execution.

(c) Without prior written consent of the other party, the
Parties agree not to use the Confidential Information of the
other party for its own benefit or for the benefit of anyone
other than the providing party, or other than in accordance with
the terms and conditions of this Agreement.

(d) All Licensee Confidential Information remains the property
of Licensee and all Licensor's Confidential Information
remains the property of Licensor, other than as expressly
provided by this Agreement.

(e) Upon written request of the disclosing party, or upon the
expiration or other termination of this Agreement for any reason
whatsoever, the receiving party agrees return to the disclosing
party all such provided Confidential Information, including but
not limited to all copies without retaining any copy thereof.

(f) Licensee agrees to limit access to the Intellectual
Property Rights, and any tangible embodiments thereof shall be
made available only to those individuals identified as
Licensee's Key Personnel in Exhibit C, and such other
employees of Licensee whom Licensor may have approved in writing
(with such approval not being unreasonably withheld) and who
require access to the Intellectual Property Rights and such
tangible embodiments in connection with Licensee's activities
under the exclusive license covering the Territory granted
herein.

(g) The provisions of this Paragraph shall survive the
expiration or other termination of this Agreement.

6. OWNERSHIP. INTELLECTUAL PROPERTY RIGHTS, AND
NON-DISCLOSURE:

(a) Licensor shall retain all rights, title and interest
(including all intellectual property rights) held by it in the
Intellectual Property Rights and Derivatives, except technology
worked on jointly by the Parties, and the Parties shall make
their best efforts to defme what reasonable derivatives based on
plastics, surface tar, waste tires and tar pits technology,
jointly owned by both parties are as well as the scope, and also
negotiate in good faith in writing for any and all matters
concerning reasonable derivatives thereof, including but not
limited to, details of IPRs filing for registration in any
jurisdiction, licensing, marketing such reasonable derivatives
("Jointly Owned Derivatives").

(b) The Parties shall execute a separate agreement related to
any Jointly Owned Derivatives. The technology associated with any
Jointly Owned Derivative plastics, surface tar, waste tires and
tar pits will be share equally by both parties, and the rights,
duties and objectives of Licensor and Licensee in any Jointly
Owned Derivative will he agreed upon in a separate agreement
negotiated in good faith. Any use of the Intellectual Property
Rights in this Agreement or any Jointly Owned Derivative shall
not operate to transfer or convey any Intellectual Property
Rights. above.

(c) This Paragraph is valid only within the scope of license
set forth in Paragraph 2,

(d) Licensee shall not alter or remove any copyright, trade
secret, patent, proprietary and/or other legal notices contained
on or in copies of the Intellectual Property Rights. Licensee
shall reproduce and include any trademark, copyright, trade
secret or proprietary information notices and other legends on
every copy, in whole or in part, of the Intellectual Property
Rights in any form. Licensee shall not decompile, disassemble or
otherwise reverse engineer the Intellectual Property Rights
without Licensor's written consent.

(e) Licensee shall render to Licensor commercially reasonable
assistance in connection with Licensor's enforcement of its
rights in and to the Intellectual Property Rights, including
without limitation using efforts to prevent third parties from
copying or using the Intellectual Property Rights outside the
scope of this Agreement.

(f) Licensee is, and as to Licensor, shall be, the owner of
the right, title and interest, including any and all Intellectual
Property Rights, in and to Licensee's Confidential
Information and Licensee's Rights, in the Territory.

7. TERM:

(a) The exclusive license granted under this Agreement
covering the Territory shall continue in effect for five (5)
years from the Effective Date set forth above. This Agreement
shall expire on February 22, 2017 and renew under the same terms
and conditions under this Agreement for consecutive one-year
periods unless tenninated by either party in writing by or before
October 22, 2016 or earlier tenninated in accordance with the
provisions of Sections 12, 13 and 14 below.

8. LICENSING FEE:

(a) The fee for this exclusive license covering the Territory
will be US $100,000.00 per year, unless Licensee purchases a
minimum of five (5) systems and 180 ton per day in a calendar
year and if this condition occurs, Licensor agrees to release
Licensee of the yearly fee agreed to herein.
(b) The Parties agree that Licensee's 2012 license fee
under this Agreement shall be credited in the amount of
$20,000.00, which reflects the amounts paid by Licensee to
Licensor for the exclusive license covering the Territory. The
balance of US $80,000.00 for calendar year 2012 shall be paid by
or before June I, 2012 only when all payment of orders have been
made in full and received by Licensor in its bank account.

9. LICENSOR'S REPRESENTATIONS AND WARRANTIES:
(a) Licensor is the exclusive owner of the right, title and
interest in and to the Intellectual Property Rights, of limited
to plastics, surface tar, waste tires and tar pits pyrolysis
technology, Derivatives, Licensor's Confidential Information
and Licensor's Rights, and has the authority to 5 execute
this Agreement and to license the exclusive right to the
Intellectual Property Rights to Licensee in the Territory.

(b) Licensor's Rights do not infringe any existing patent,
copyright, trademark, service mark, trade name, trade secret,
patent, or other intellectual property right of any third person,
finn, corporation or other entity in the Territory.

(c) Within the scope of license as set out in Paragraph 2,
Licensor's Rights and Intellectual Property Rights are and
shall be free and clear of any and all encumbrances and/or liens
of any nature whatsoever, other than those identified by Licensor
in Exhibit D of this Agreement, and Licensor has not executed,
nor shall it execute during the Term, an agreement with any
third-party licensing the Intellectual Property Rights,
Licensor's Rights or Licensor's Confidential
Information.

(d) Within the scope of license as set out in Paragraph 2,
Licensor's performance of this Agreement does not conflict
with any other Agreement related to the Intellectual Property
Rights, Licensor's Confidential Information and
Licensor's Rights and, while perfonning this Agreement,
Licensor will not enter into any other Agreement in conflict with
this Agreement or which would impair the ability of Licensor to
perform this Agreement.

10. MUTUALINDEMNIFICATION:
(a) Licensee shall indemnify, defend, and hold harmless
Licensor (and its successors, assigns, agents, employees, and
representatives and licensees, as provided for in this agreement)
from and against all claims, actions, liabilities, and damages,
including incident costs and attorney fees, that may be suffered
by or recoverable from such parties resulting from or arising out
of any breach by Licensee of any of its obligations under this
Agreement or any claim by any party resulting from Licensee's
use of the Licensor's trademark or its business operations,
brought by customers or creditors of other, excluding any claims
for warranties or product liability.

(b) Licensor shall indemnifY, defend, and hold harmless
Licensee (and its successors, assigns, agents, employees,
representatives and licensees, as provided for in this Agreement)
from and against all infringement claims, actions, liabilities,
and damages, including incident costs and attorney fees, that may
be suffered by or recoverable from such parties resulting from or
arising out of any breach by Licensor of any of its obligations
under this Agreement or any claim by any party resulting from
Licensor's representations and warranties under this
Agreement.

(c) Licensor has no liability for any claim of infringing any
patent, copyright, trade secret, trademark or other proprietary
right of any third party based upon: (I) the combination,
operation or use of any services or material with other services
or material not furnished or not suggested I recommended by
Licensor; (2) during the course of carrying out this Agreement,
any, including but not limited to, specific designs,
performances, installments, or operations as instructed by
Licensee; or (3) Licensee's modification .

I L LIMITATION OF WARRANTIES AND LIABILITY:

EXCEPT AS EXPRESSLY STATED IN TIDS AGREEMENT, LICENSOR
WARRANTIES THE EQUIPMENT AND THE PROCESS FUNCTIONALITY FOR ONE
YEAR PROVIDED IT IS INSTALLED AND MAINTAINED PER ITS
RECOMMENDATIONS. LICENSOR WILL NOT WARRANT ITS SYSTEMS IF IT IS
NOT INSTALLED AND OPERATED IN ITS PROCESS RECOMMENDATIONS, AND
SHALL BE AMENDED OR MODIFIED IN WRITING AGREED BY THE
PARTIES.

12. TERMINATION BY LICENSEE:

(a) Licensee shall have the right to terminate this Agreement
at any time on thirty (30) days' notice in writing to
Licensor for Licensor's failure to fulfill any of its
obligations under this Agreement; however, if during the notice
period Licensor remedies its failure, this Agreement shall
continue in effect as it would have done if notice had not been
given.

(b) Any and all agreements signed or technologies sublicensed
by Licensee under this Agreement shall be automatically
terminated accordingly unless otherwise reaffinned or ratified by
Licensor, Licensee is liable to compensate and I or indemnify any
and all damages and /or loss of its customers or sublicensees if
such termination of this Agreement is not attributable to
Licensor.

13. TERMINATION BY LICENSOR:

(a) Licensor may terminate this Agreement on thirty (30)
days' notice in writing to Licensee for Licensee's
failure to fulfill any of its obligations under this Agreement;
however, if during the notice period Licensee remedies its
failure, this Agreement shall continue in effect as it would have
done if notice had not been given.

14. SURVIVALPOST-TERM!NATION:

(a) In the event Licensor or Licensee terminates this
Agreement the confidentiality provision agreed to herein shall
remain in full force and effect mutually between the Parties.

(b) In the event either party is purchased in part or whole,
this Agreement is binding on the surviving entity of either
party.

15. ASSIGNMENT:

(a) Subject to Paragraph (15)(b), Licensee has the right to
assign or otherwise transfer its rights, duties and/or
obligations under this Agreement to any entity in which Licensee,
or its members, maintains title to at least ten-percent (10%) of
the entities common stock or membership units .

(b) Licensee has the right to assign or otherwise transfer its
rights, duties and/or obligations under this Agreement to any
other entity upon obtaining written consent of Licensor, which
shall not be unreasonably withheld. A condition precedent to any
approved assignment or transfer of Licensee's rights, duties
and obligations under this provision is the assignee agreeing in
writing to be bound by the terms and conditions of this
Agreement

(c) Licensee has the right to levy a fee to customers to
subsidize the payment for retaining the exclusive license
covering the Territory under this Agreement

16. GOVERNJNGLAW AND ARBITRATION:

(a) This Agreement shall be deemed to be made and entered into
pursuant to the laws of the State of Michigan and, in the event
of any dispute, shall be governed by and shall be construed and
interpreted in accordance with the laws of the State of
Michigan.

(b) Any controversy or claim between or among the parties,
including but not limited to those arising out of or relating to
this Agreement or any related agreements or instrnments and any
claim based on or arising from an alleged tort, will be
determined by arbitration. The arbitration will be conducted
before one arbitrator in accordance with the Federal Arbitration
Act, 9 USC I et seq., notwithstanding any choice-of-law provision
in this Agreement, and under the Commercial Arbitration Rules of
the American Arbitration Association. The arbitrator will give
effect to statutes of limitation in determining any claim. Any
controversy concerning whether an issue is arbitrable will be
determined by the arbitrator. Judgment on the arbitration award
may be entered in any court having jurisdiction. The institution
and maintenance of an action for judicial relief or pursuit of a
provisional or ancillary remedy will not constitute a waiver of
the right of any party, including the plaintiff, to submit the
controversy or claim to arbitration if any other party contests
such action for judicial relief

17. SEVERABILITY:

(a) The provisions of this Agreement shall be severable, and
if any provision of this Agreement shall be held or declared to
be illegal, invalid, or unenforceable, such illegality,
invalidity, or unenforceability shall not affect any other
provision hereof, and the remainder of this Agreement,
disregarding such invalid portion, shall continue in full force
and effect as though such void provision had not been contained
herein.

18. NATURE OF RELATIONSHIP:

(a) The Parties are for all purposes independent as licensor
and licensee. This Agreement does not constitute and shall not be
construed as constituting a partnership, joint venture, or
franchise or agency relationship. Neither party shall have any
right to obligate or bind the other party in any manner
whatsoever, nor nothing herein contained shall give, or is
intended to give, any rights of any kind to any third
persons.

19. NOTICES:

(a) All notices required under this Agreement will be in
writing, will reference this Agreement, and will be deemed given
when sent by regnlar mail at the addresses identified in the
introductory paragraph, or by facsimile or confirmed electronic
mail at the number or addresses, respectively, identified beneath
the signature of each party to this Agreement.

20. ENTIRE AGREEMENT:

(a) This Agreement constitutes the entire agreement between
the parties concerning the subject matter hereof. The failure of
either party to require performance of any provision of this
Agreement shall not be, construed as a waiver of its right to
insist on performance of that same provision, or any other
provision, at some other time. Any waiver, variation or
amendment, or modification, of any term or condition of this
Agreement shall be effective only if signed by an authorized
representative of both parties hereto. The waiver by either party
of any right created by this Agreement in one or more instances
shall not be construed as a further continuing waiver of such
right or any other right created by this Agreement.

21. RELATIONSHIP OF PARTIES AND LIABILITY
LIMITATIONS:

(a) The parties intend that the relationship between them
created by this Agreement shall be that of independent
contractors and that the relationship shall continue as such
throughout the term of this Agreement and any extension thereof
It is further agreed that nothing contained in this Agreement
shall be construed to constitute either party as a partner,
employee or agent of the other, and no employee or agent of
either party shall be or be deemed to be the employee or agent of
the other.

(b) Neither party shall have the authority to make any
Agreement or commitment, or incur any liability on behalf of the
other party, nor shall either party be liable for any acts,
omissions to act, contracts, commitments, promises or
representations made by the other, except as specifically
authorized in this Agreement or as the parties may hereafter
agree in writing.

[SIGNATURES ON FOLLOWING PAGE]

Licensor Green Ecology /s/Jo Jine Cheng CEO Licensee
Sunrise Technology, LLC /s/John Burns Manager
EXHIBIT A- INTELLECTUAL PROPERTY RIGHTS BEING LICENSED

EXHIBIT B- HOLDERS OF THIRD-PARTY RIGHTS

NONE AS OF EXECUTION

EXHIBIT C- LICENSEE'S KEY PERSONNEL AS OF EFFECTIVE
DATE

Geno Brunton

John Burns

Tom Sykes

Walter Hahne

Mark Rynearson

Buzzy Tiecken

Jon Dyer

Randall Farr

Anthony R. Paesano, Esq.

Sara Qazi

EXHIBIT D- ENCUMBRANCES ON INTELLECTUAL PROPERTY RIGHTS

NONE AS OF EXECUTION

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