Document:

Patent Rights Agreement

 EXHIBIT 10.14 
 PATENT RIGHTS AGREEMENT 
 This PATENT RIGHTS AGREEMENT (this
“Agreement”) is entered into, as of the Effective Date (defined below), by and among Digimarc Corporation, an Oregon corporation, with an address at 9405 SW Gemini Drive, Beaverton, OR 97008
(“Licensor”), and IV Digital Multimedia Inventions, LLC, a Delaware limited liability company, with an address at 2711 Centerville Road, Suite 400, Wilmington, DE 19808
(“Licensee”). The parties hereby agree as follows: 
  

	1.	Background 

 1.1 Licensor and Licensee
have entered into a patent license agreement, which is dated of even date herewith (“Patent License Agreement”), pursuant to which Licensor has agreed, subject to the terms of the Patent License Agreement, to license
exclusively to Licensee certain patents. 
 1.2 Licensor and Licensee desire to provide one another with additional rights with respect to the
Licensed Patents, all as further described below. This Agreement will be of no force or effect unless the Closing has occurred under the Patent License Agreement. 
  

	2.	Certain Definitions 

“Acquisition Transaction” has the meaning set forth in subsection 3.3. 
 “Effective Date” means the later of the date set forth on the signature page of this Agreement or the date of the simultaneous Closings under the Patent License
Agreement and the other Transaction Agreements. 
 “Licensed Patents” means Patents licensed to Licensee under the
Patent License Agreement. 
 “Litigation Notice” means a written notice from Licensee to Licensor specifying a Patent
with respect to which Licensee, at the time of such notice, believes there is a possibility of commencement of litigation against a third party within a reasonable time following the date of such notice. 

“Option” has the meaning set forth in subsection 3.1. 
 “Option Notice” has the meaning set forth in subsection 3.2. 

“Optioned Patents” means the Licensed Patents for which Licensee has exercised the Option. 

“Option Price” has the meaning set forth in subsection 3.1. 
 “Patent License Agreement” has the meaning set forth in subsection 1.1. 

“Put Patents” means the Licensed Patents for which Licensor has exercised the Put Right. 

“Put Notice” has the meaning set forth in subsection 4.2(b). 

 “Put Price” has the meaning set forth in subsection 4.1. 

“Put Right” has the meaning set forth in subsection 4.1. 
 “Security Interest” has the meaning set forth in subsection 5.1. 
 In
addition, the terms “Closing”, “Existing Encumbrances”, “Patents”, “Profit Participation” and “Transaction Agreements”, as well as any other capitalized terms defined in the Patent License Agreement
and not defined herein, shall have the meanings assigned to such terms in the Patent License Agreement. 
  

	3.	Option 

 3.1 Grant of Option.
Licensor hereby grants Licensee an exclusive option (the “Option”) to purchase the entire right, title and interest to all or any number of patents and/or patent applications identified as Licensed Patents, subject to:
(i) the rights previously granted to Licensee under the Patent License Agreement and (ii) the licenses set forth in Schedule 7.5 of the Patent License Agreement and the Grant Back License Agreement, for a purchase price of
One Thousand U.S. Dollars (US $1,000) (the “Option Price”) for each patent or patent application, subject to and in accordance with the terms and conditions set forth in this Section 3. 

3.2 Exercise of Option. The Option may be exercised by Licensee sending to Licensor a written notice of exercise (the “Option
Notice”). The Option Notice will include an identification of the particular patents and/or patent applications for which the Option is being exercised. Within twenty (20) business days following receipt of an Option Notice, the
Licensor will enter into a Patent Purchase Agreement with Licensee for the relevant Optioned Patents in the form agreed by the parties pursuant to subsection 3.6 below. 
 The closing of each purchase of Optioned Patents shall be conditioned upon payment in full of the Option Price to Licensor for such Optioned Patents. 

The assignment to Licensee of any Optioned Patents pursuant to this Section 3 will not affect Licensor’s rights to receive Profit Participation
with respect to such Optioned Patents, which rights shall continue in accordance with the terms of the Patent License Agreement. 
 3.3
Notice and Opportunity to Exercise in Event of Acquisition of Licensor. Licensor hereby agrees that, in the event it enters into a definitive agreement providing for a merger of Licensor with or into any third party, a tender offer for, or
the purchase of, a majority of the outstanding shares of stock of Licensor, the purchase of all or substantially all of the assets of Licensor, or any similar transaction (an “Acquisition Transaction”),
(a) Licensor will provide written notice to Licensee of such event at least forty-five (45) days prior to the closing of such Acquisition Transaction other than an Acquisition Transfer involving a tender offer, and twenty
(20) business days prior to the closing of an Acquisition Transaction involving a tender offer, and (b) Licensee shall have thirty (30) days following receipt of such notice to elect whether or not to deliver an Option Notice, and if
Licensee delivers an Option Notice during such time period, Licensor and Licensee will enter into a Patent Purchase Agreement, in the form agreed by the parties pursuant to subsection 3.6 below, with respect to the Optioned Patents

  
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referenced in the Option Notice and will close such purchase transaction, prior to the closing of such Acquisition Transaction. 
 3.4 No Obligation to Exercise. Licensee is under no obligation to exercise the Option. Licensee may exercise the Option for one or any number of Licensed Patents. The Option may be exercised by
Licensee an unlimited number of times, and Licensee may, in its sole discretion and at any time, exercise, terminate (subject to subsection 3.5), or refuse to take any action with respect to the Option. 

3.5 Termination of Option. Other than termination of this Agreement under subsection 8.4, the Option will terminate only upon written notice of
termination from the Licensee, and will not terminate or expire for any other reason. 
 3.6 Form of Patent Purchase Agreement. Within
twenty (20) days following the Effective Date, the parties will negotiate in good faith and agree to a form of Patent Purchase Agreement that (a) is consistent with Licensee’s standard form agreement for acquisition of patents and
patent applications, and (b) reflects the applicable terms and conditions from the Patent License Agreement. 
  

	4.	Put Right 

 4.1 Grant of Put
Right. Licensee hereby grants Licensor the right to put to the Licensee the entire right, title and interest to all or any number of patents within the Licensed Patents (the “Put Right”), subject to:
(i) the rights previously granted to Licensee under the Patent License Agreement and (ii) the licenses specifically set forth in Schedule 7.5 of the Patent License Agreement and the Grant Back License Agreement,
for a sale price to Licensee of One Thousand U.S. Dollars (US $1,000) (the “Put Price”) for each patent, subject to and in accordance with the terms and conditions set forth in this Section 4. 

 4.2 Exercise of Put Right. 
 (a) Exercise of Put Right. Licensor may exercise the Put Right only (i) following receipt by Licensor of a Litigation Notice from Licensee, (ii) in the event that Licensor receives a
written notice from one of its customers (including existing patent licensees of Licensor) that Licensee has produced claim charts for particular Licensed Patents with respect to products or services of the customer, or (iii) in the event that
Licensor learns that it has been named by a third party as a party in a declaratory judgment involving any of the Licensed Patents as a direct result of Licensee’s threatened or actual commencement of any action or proceeding against such third
party for infringement of the Licensed Patents. 
 Notwithstanding anything to the contrary herein, in no event may Licensor exercise the Put
Right with respect to any Licensed Patents that are involved in any threatened or actual action or proceeding other than either an action or proceeding that is commenced by Licensee or an action or proceeding that directly relates to an action or
proceeding threatened or commenced by Licensee with respect to infringement of the Licensed Patents. 
 Any exercise of the Put Right will be
limited to the particular Licensed Patents that are relevant to the applicable event described in (i), (ii) or (iii) above. 

  
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 (b) Put Notice. Licensor may exercise the Put Right pursuant to the foregoing subsection 4.2(a) only
by sending written notice of such exercise to Licensee (the “Put Notice”). The Put Notice will include identification of the particular patent or patents for which the Put Right is being exercised and a description of the
applicable event giving rise to Licensor’s right to exercise the Put Right pursuant to subsection 4.2(a). The Put Notice must be received by Licensee no more than thirty (30) days following the date of the applicable event giving rise to
Licensor’s right to exercise the Put Right. Within twenty (20) business days following Licensee’s receipt of a Put Notice, Licensor and Licensee will enter into a Patent Purchase Agreement for Licensed Patents in the form agreed by
the parties pursuant to subsection 3.6 for the relevant Put Patents. 
 Licensee shall pay the Put Price to Licensor for the relevant Put
Patents within ten (10) business days of the effective date of the Patent Purchase Agreement. 
 The assignment to Licensee of any patents
pursuant to this Section 4 will not affect Licensor’s right to Profit Participation with respect to such patents, which right shall continue in accordance with the terms of the Patent License Agreement. 

4.3 No Obligation to Exercise. Licensor is under no obligation to exercise the Put Right. Licensor may exercise the Put Right for one or any
number of patents, subject to the limitations set forth in subsection 4.2(a). The Put Right may be exercised by Licensor an unlimited number of times, subject to the limitations set forth in subsection 4.2(a), and Licensor may, in its sole
discretion and at any time, terminate or refuse to take any action with respect to the Put Right. 
 4.4 Termination of Put Right. Other
than termination of this Agreement under subsection 8.4, the Put Right will terminate only upon written notice of termination from Licensor, and the Put Right will not terminate or expire for any other reason. 

 

	5.	Security Interest in Each Licensed Patent 

5.1 Security Interest. Subject to the terms of the Patent License Agreement, and subject to the Existing Encumbrances, in order to secure
Licensor’s current and future obligations under the Patent License Agreement, under this Agreement (including, without limitation, Licensor’s obligation to assign to Licensee all right, title and interest to the Option Patents following
exercise of the Option in accordance with the terms of Section 3), and under the escrow agreement that the parties will enter into pursuant to subsection 6.3 below, Licensor hereby grants Licensee, from and after the date of Closing under the
Patent License Agreement, a first priority security interest (each a “Security Interest”) in and to all Licensor’s right, title, and interest in, to and under all of the following, whether now or hereafter existing, or
now owned or hereafter acquired: 
 (a) each of the Licensed Patents; 
 (b) rights to apply in any or all countries of the world for patents, certificates of invention, utility models, industrial design protections, design patent protections, or other governmental grants or
issuances of any type relating to any the Licensed Patents and the inventions and discoveries therein; 

  
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 (c) all causes of action (whether known or unknown or whether currently pending, filed, or otherwise) and
other enforcement rights under, or on account of the Licensed Patents, including, without limitation, all causes of action and other enforcement rights for (i) damages, (ii) injunctive relief, and (iii) any other remedies of any kind,
in each case for past, current, and future infringement; and 
 (d) rights to collect royalties or other payments under or on account of any of
the Licensed Patents or any of the foregoing. 
 Notwithstanding anything to the contrary herein, the parties acknowledge and agree that
Licensor will retain the right (and obligation) to collect any payments that are or become due or owing to Licensor as a result of payment obligations under any of the Existing Encumbrances. 
 5.2 Authorization to File. Licensor hereby irrevocably (so long as this Agreement remains in effect) authorizes Licensee at any time, and from time to time, to file with the U.S. Patent and
Trademark Office or in any other relevant governmental office or jurisdiction, for the purpose of the recording, registering and filing of, or accomplishing any other formality with respect to, the applicable Security Interest, to execute and
deliver any and all agreements, documents, instruments of assignment or other papers necessary or advisable to effect such purpose, with or without signature of Licensor.
 5.3 Further Cooperation. At the reasonable request of Licensee, and provided that Licensee will be responsible for payment of any related filing fees, Licensor will execute and deliver such other
instruments and do and perform such other acts and things as may be reasonably necessary or desirable for effecting completely the consummation of the transactions contemplated in this Section 5, including, without limitation, execution,
acknowledgment and recordation of other such papers, and using reasonable efforts to obtain the same from the respective inventors, as necessary or desirable for fully perfecting and maintaining for Licensee the benefit of the Security Interest for
each applicable Licensed Patent. 
 5.4 Termination. Upon termination of this Agreement in accordance with subsection 8.4, the security
interest granted hereunder shall terminate. 
  

	6.	Licensor Obligation. 

 6.1 No Transfer
or Encumbrance of Licensed Patents. Licensor covenants and agrees that it will not: 
 (a) sell, assign, pledge, hypothecate
or otherwise transfer any or all of the Licensed Patents or any rights relating thereto, other than assignments to Licensee as contemplated under Sections 3 and 4 above; or 
 (b) place on any or all of the Licensed Patents, or grant with respect to any or all of the Licensed Patents, any lien, security interest, adverse claim of title, ownership or right to use, license,
covenant not to sue, claim or other encumbrance except (i) the Security Interest granted to the Licensee under Section 5 above, and (ii) the rights granted pursuant to subsection 2.4 of the Work Agreement to be entered into between
Licensor and Licensee. 

  
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 6.2 Notice of Licensor Liabilities. In the event that, after the Effective Date, Licensor takes on
(or becomes aware of) any indebtedness or financial liabilities or obligations (actual or contingent, but excluding trade payables incurred in the ordinary course of business) representing (either individually or in the aggregate) an obligation in
excess of $1,000,000, Licensor will provide Licensee with written notice thereof within five (5) business days following the date of Licensor’s taking on (or becoming aware of) such indebtedness, liabilities or obligations. In addition, in
the event that Licensor defaults, or becomes aware of any facts or circumstances that cause Licensor to become reasonably likely to default, on any of such indebtedness or other obligations of Licensor, Licensor will provide Licensee with written
notice thereof as soon as practicable, but in no event more than five (5) business days following Licensor’s default or Licensor’s becoming aware of the facts or circumstances that cause Licensor to become reasonably likely to
default, as applicable. 
 6.3 Escrow Agreement. Within twenty (20) days following the Effective Date, the parties will enter into
an escrow agreement with an escrow agent to be mutually agreed upon between the parties, and Licensor will deliver to the escrow agent (a) irrevocable powers of attorney in favor of the escrow agent and/or irrevocable fully executed assignment
documents (in a form approved by Licensee), as agreed upon by the escrow agent, which documents will be sufficient to assign to Licensee all right, title and interest to the Option Patents following any exercise of the Option, at any time, in
accordance with the terms of Section 3, and (b) such other executed documents, files or other items as may be reasonably requested by the escrow agent or Licensee to facilitate any such assignment pursuant to Section 3. 

6.4 License to Certain Additional Patents. Within twenty (20) days following the Effective Date, the parties will negotiate in good faith and
agree to a form of Nonexclusive License Agreement that is derived from the draft previously provided by Licensor to Licensee (with opportunity for Licensee to provide comments on such draft), and which shall apply with respect to the additional
patents and patent rights specified in such draft. 
  

	7.	Representations and Warranties; Disclaimer; Limitation of Liability; Exclusions of Certain Damages 

7.1 Representations, Warranties and Covenants of Licensor. Each of the representations, warranties and covenants of Licensor in the Patent License
Agreement that, by its express terms (e.g. apply to the “Transaction Agreements”) apply to this Agreement, are hereby incorporated by reference into and made a part of this Agreement and are hereby made and given by Licensor. 

7.2 Representations, Warranties and Covenants of Licensee. Each of the representations, warranties and covenants of Licensee in the Patent License
Agreement that, by its express terms (e.g. apply to the “Transaction Agreements”) apply to this Agreement, are hereby incorporated by reference into and made a part of this Agreement and are hereby made and given by Licensee. 

7.3 Disclaimer of Representations and Warranties. EXCEPT AS SET FORTH IN SUBSECTIONS 7.1 AND 7.2 ABOVE, NO PARTY MAKES ANY REPRESENTATION OR
WARRANTY, AND EACH PARTY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, INCLUDING WITHOUT LIMITATION
ANY EXERCISE OF THE PUT RIGHT SET FORTH IN SECTION 4 FOLLOWING 

  
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LICENSEE’S PROVIDING A LITIGATION NOTICE TO LICENSOR, LICENSEE WILL HAVE NO OBLIGATION TO COMMENCE OR CONTINUE ANY LITIGATION WITH RESPECT TO ANY LICENSED PATENTS. 

7.4 Exclusion of Certain Damages. NO PARTY WILL HAVE ANY OBLIGATION OR LIABILITY (WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE) OR
OTHERWISE, AND NOTWITHSTANDING ANY FAULT, NEGLIGENCE (WHETHER ACTIVE, PASSIVE OR IMPUTED), REPRESENTATION, STRICT LIABILITY OR PRODUCT LIABILITY), FOR COVER OR FOR ANY INCIDENTAL, INDIRECT OR CONSEQUENTIAL, MULTIPLIED, PUNITIVE, SPECIAL, OR
EXEMPLARY DAMAGES FOR LOSS OF REVENUE, PROFIT (EXCEPT TO THE EXTENT PROFIT BECOMES DUE AND PAYABLE IN ACCORDANCE WITH SUBSECTION 2.2 OF THE PATENT LICENSE AGREEMENT), SAVINGS OR BUSINESS ARISING FROM OR OTHERWISE RELATED TO THIS AGREEMENT, EVEN IF A
PARTY OR ITS REPRESENTATIVES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE PARTIES ACKNOWLEDGE THAT THESE EXCLUSIONS OF SUCH POTENTIAL DAMAGES WERE AN ESSENTIAL ELEMENT IN SETTING CONSIDERATION UNDER THIS AGREEMENT. 

7.5 Compliance with Laws. Notwithstanding anything contained in this Agreement to the contrary, the obligations of the parties with respect to the
consummation of the transactions contemplated by this Agreement shall be subject to all laws, present and future, of any government having jurisdiction over the parties and this transaction, and to orders, regulations, directions or requests of any
such government. 
  

	8.	Miscellaneous 

 8.1
Confidentiality. This Agreement shall be subject to the confidentiality and related obligations of subsection 11.1 of the Patent License Agreement, which provision is hereby incorporated by reference and made a part of this Agreement.

 8.2 Relationship of Parties. The parties hereto are independent contractors. Nothing in this Agreement will be construed to create a
partnership, joint venture, franchise, fiduciary, employment or agency relationship between the parties. Neither party has any express or implied authority to assume or create any obligations on behalf of the other or to bind the other to any
contract, agreement or undertaking with any third party. 
 8.3 Assignment; Successors. This Agreement can only be assigned by Licensor
or Licensee in conjunction with the assignment of the Patent License Agreement by such party in accordance with subsection 11.3 of such Patent License Agreement. Subject to the preceding sentence, the terms and conditions of this Agreement will
inure to the benefit of Licensor and Licensee, and their respective successors, assigns and other legal representatives, and will be binding upon Licensor and Licensee, and their respective successors, assigns, and other legal representatives.

 8.4 Termination. The term of this Agreement will commence on the Effective Date and will continue for each Licensed Patent unless and
until expiration or termination of the Patent License Agreement in accordance with subsection 11.4 of the Patent License Agreement. 
 8.5
Survival/Effect of Termination. No termination of this Agreement will relieve a breaching party of its obligations arising prior to such termination. 

  
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 In the event of termination of this Agreement, subsection 11.5 of the Patent License Agreement shall apply.

 8.6 Governing Law. Any claim arising under or relating to this Agreement will be governed by the laws of the State of Delaware,
without regard to choice of law principles to the contrary. 
 8.7 Dispute Resolution. This Agreement shall be subject to subsection 11.9
of the Patent License Agreement, which dispute resolution provisions are hereby incorporated by reference into, and made a part of, this Agreement. 
 8.8 Notices. All notices required or permitted to be given hereunder will be in writing, will make reference to this Agreement and will be delivered by hand, or dispatched by prepaid air courier to
the addresses set forth on the initial page of this Agreement. Such notices will be deemed given when received by addressee or, if delivery is not accomplished by reason of some fault of the addressee, when tendered for delivery. Either party may
give written notice of a change of address to the other. After notice of such change has been received, any notice or request will thereafter be given to such party at such changed address. 
 8.9 Severability. If any provision of this Agreement is found to be invalid or unenforceable, then the remainder of this Agreement will have full force and effect, and the invalid provision will be
modified, or partially enforced, to the maximum extent permitted to effectuate the original objective. 
 8.10 Waiver. Failure by either
party to enforce any term of this Agreement will not be deemed a waiver of future enforcement of that or any other term in this Agreement or any other agreement that may be in place between the parties. 

8.11 Miscellaneous. This Agreement, together with the other Transaction Agreements, constitute the entire agreement between the parties with
respect to the subject matter hereof and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions. None of the parties will be bound by any conditions, definitions, warranties, understandings, or
representations with respect to the subject matter hereof other than as expressly provided in this Agreement or the other Transaction Agreements. 
 The section headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement. This Agreement is not intended to confer
any right or benefit on any third party (including, but not limited to, any employee or beneficiary of any party), and no action may be commenced or prosecuted against a party by any third party claiming as a third-party beneficiary of this
Agreement or any of the transactions contemplated by this Agreement. 
 No oral explanation or oral information by either party hereto will
alter the meaning or interpretation of this Agreement. No amendments or modifications will be effective unless in writing signed by authorized representatives of each party. The terms and conditions of this Agreement will prevail notwithstanding any
different, conflicting or additional terms and conditions that may appear on any letter, email or other communication or other writing not expressly incorporated into this Agreement. 

  
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 8.12 Counterparts; Electronic Signature. This Agreement may be executed in counterparts, each of
which will be deemed an original, and all of which together constitute one and the same instrument. Each party will execute and promptly deliver to the other parties a copy of this Agreement bearing the original signature. Prior to such delivery, in
order to expedite the process of entering into this Agreement, the parties acknowledge that a Transmitted Copy of this Agreement will be deemed an original document. “Transmitted Copy” means a copy bearing a signature of a party that is
reproduced or transmitted via email of a .pdf file, photocopy, facsimile, or other process of complete and accurate reproduction and transmission. 
 [The remainder of this page was left blank intentionally] 

  
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 In witness whereof, intending to be legally bound, the parties have executed this Patent
Rights Agreement as of the Effective Date. 
  

			
	LICENSOR:
	
	DIGIMARC CORPORATION
		
	By:	 	/s/ Bruce Davis
		 	Bruce Davis
		 	Chairman and Chief Executive Officer

  

			
	 State of OREGON

		
	 County of:
	 	 
	
	 Signed or attested before me on October 5, 2010
by

  

	
	 Bruce Davis

	
	  
	 Notary Public – State of Oregon

	 My Commission expires:

  

			
	LICENSEE:
	
	IV DIGITAL MULTIMEDIA INVENTIONS, LLC
		
	By:	 	/s/ Vincent Pluvinage
		 	Vincent Pluvinage,
		 	Authorized Person
		
	Date:	 	October 5, 2010

 [Signature Page to
Patent Rights Agreement]Work Agreement

 EXHIBIT 10.15 
 CONFIDENTIAL PORTIONS OMITTED 
 AGREEMENT 

This Agreement (“Agreement”) is entered into as of October 5, 2010 (the “Effective
Date”) by and among Digimarc Corporation, an Oregon corporation, with an address at 9405 SW Gemini Drive, Beaverton, OR 97008 (“Digimarc”), Invention Law Group, P.C. (“ILG”)
and IV Digital Multimedia Inventions, LLC (“DMI” and together with ILG, the “IV Entities”). 
 RECITALS 
 A. Digimarc is granting DMI an exclusive license
(with a right to sublicense) to certain Digimarc patents and patent applications (the “Patents”) pursuant to a Patent License Agreement (the “PLA”), a Patent Rights Agreement (the
“PRA”), a Common Interest Agreement (the “CIA”) and other Transaction Agreements, all of which are being entered into concurrently herewith. 

B. As described more fully in the agreements referenced in Recital A above, the parties have a common financial interest concerning the
Patent Matters. Under this common interest, the parties have agreed to treat their communications and those of their Counsel concerning the Patent Matters as protected by the common interest privilege, subject to the limitations and exceptions in
the CIA. Advancing the Patent Matters requires the exchange of proprietary documents and information, the joint development of legal strategies and the exchange of attorney work product developed by the parties and their respective Counsel.

 C. The IV Entities and Digimarc now wish to enter into this Agreement to provide a framework whereby the IV Entities may
engage Digimarc to provide certainwork of the nature described herein (and included in the definition of Patent Matters in the CIA), with particular engagements to be set forth in SOWs to be executed hereunder. 

NOW, THEREFORE, the parties hereby agree as follows: 
  

	1.	DEFINITIONS 

 Capitalized terms used but
not defined in his Agreement will have the meaning assigned to them in the CIA, the PLA, the PRA or other Transaction Agreements. 

“Confidential Information” means (a) any information, technical data, trade secrets or know-how, including, but not limited
to, analyses, assessments, research and product plans, products, services, markets, developments, inventions, processes, formulas, technology, marketing, finances or other business information disclosed to or made available to Digimarc by the IV
Entities or IV Affiliates in writing, orally, or otherwise, (b) any third parties’ confidential or proprietary information that is subject to a duty by the IV Entities or the IV Affiliates to maintain the confidentiality of such
information, and (c) information related to the ownership or holding of any intellectual property rights, applications for such rights, or other assets reviewed as part of the Work, whether owned by the IV Entities or any of the IV Affiliates.

 “Counsel” means duly licensed in-house or outside attorneys or patent agents as well as their paralegals and agents.

  
  

** CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “Effective Date” means the date set forth as the Effective Date on the
signature page of this Agreement. 
 “Invoices” means the statements that Digimarc submits to the IV Entities in
accordance with subsection 5.1 below. 
 “IV Affiliates” means each entity in whatever country organized,
that controls, is controlled by or is under common control with DMI, including without limitation the IV Entities. The term “control” means possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of an entity, whether through the ownership of voting securities, by contract or otherwise. 
 “SOW”
means a written statement of work substantially in the form set forth on Exhibit A which (a) describes the work that Digimarc will perform, (b) includes the compensation to be paid to Digimarc in
connection with such work, (c) is subject to the terms of this Agreement and (d) becomes effective upon execution by authorized representatives of each of the parties. 

“Term” shall have the meaning ascribed to such term in subsection 7.1. 

“Work” means all work, whether involving the Patents or patents or patent applications owned by IV Affiliates other than the
Patents, that is requested by an IV Entity and performed by Digimarc pursuant to a SOW. 
 “Work Material”
means all notes, records, drawings, designs, inventions, improvements, developments, discoveries, copyrightable material, and trade secrets that are conceived, made or discovered by Digimarc in the course of Digimarc’s performance of
the Work, solely or in collaboration with others, during the term of this Agreement. 
  

	2.	WORK 

 2.1 This Agreement establishes the
basic framework for Digimarc to perform Work and for licensing of pre-existing licensees. 
 2.2 The Work is currently contemplated to include
the following: 
 (a) Patent Prosecution Assistance. Assistance in the prosecution of the Patents, including without
limitation prosecution of pending applications; filing of non-provisional patent applications claiming priority over provisional patent applications; filing of continuations, continuations-in-part and divisional applications; filing of foreign
applications and international and national phase PCT applications; certificates of correction and reissues; and assistance with respect to reexaminations and other matters (the “Prosecution
Assistance”). 
 ILG, not Digimarc, shall, at its sole and independent discretion, determine the effect of
Digimarc’s Prosecution Assistance on ILG’s own actions concerning the Patents. The IV Entities will be under no duty to accept or act upon any Prosecution Assistance provided by Digimarc. All Prosecution Assistance shall be subject to the
IV Entities’ own legal review of Digimarc’s activities, including the patentability of any invention conceived by 

  
  

** CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

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Digimarc and the content of any document to be filed with the United States Patent and Trademark Office (“USPTO”). The IV Entities shall serve as the
representative before the USPTO concerning the prosecution of any of the Patents and the designated recipient of all correspondence from the USPTO concerning the Patents. 

Digimarc shall bill the IV Entities for Group 1 Personnel Prosecution Assistance on an hourly basis according to the hourly rates
set forth on Exhibit B (subject to modification pursuant to subsection 5.2), subject to the monthly fee cap provided in the SOW; provided, however, that the IV Entities may request flat-fee or alternative
billing arrangements subject to agreement by Digimarc. 
 (b) Portfolio Monetization. Certain work relating
in general to monetization of the Patents, including without limitation technology consulting, portfolio mining, identification of evidence of use and assistance with preparation of claim charts, advice regarding industry and technological trends,
valuation services, serving as expert witnesses and other matters. The IV Entities may engage Digimarc for this and other portfolio monetization Work on a project basis from time-to-time. Digimarc shall bill the IV Entities for portfolio
monetization Work performed by the Group 1 Personnel on an hourly basis at the hourly rates set forth on Exhibit B (subject to modification pursuant to subsection 5.2); provided, however, that the IV Entities may request flat-fee or
alternative billing arrangements subject to agreement by Digimarc. 
 (c) Licensing Work. Engagement of Digimarc as a
licensing representative on behalf of one or more of the IV Entities or IV Affiliates. The parties currently envision such Work will be in connection with the potential licensing of clients outside of the IV Entities’ target markets. The terms
of any such engagement will be determined at the time of such engagement and will be as set forth in the applicable SOW. 
 (d) [**]. Digimarc
hereby agrees to [**]. Digimarc hereby agrees that it shall account for all time and expenses incurred for such work [**], and all such time and expenses shall be reflected on the Invoices for such work. However, Digimarc agrees that [**] to the IV
Entities under this Agreement, and Digimarc [**] for the cost of the [**] associated with the work under this subsection. 
 2.3 Digimarc
Group 2 Personnel. Upon request of the IV Entities in connection with the periodic work plan or various SOWs, Digimarc will dedicate Group 2 Personnel resources in a reasonable time, amount and manner in support of the common interest of the
parties. Such resources can be requested in support of the patent prosecution, portfolio monetization, licensing work or other activities under subsection 2.2. Upon such request, Digimarc Group 2 Personnel, including such inventors of the
Patents, engineers and technical experts as may reasonably be required, will be made available [**], subject to modifications pursuant to subsection 5.2. 
 2.4 Licensing of Pre-Existing Licensees of the Patents. 
 (a) The IV Entities hereby grant
Digimarc exclusive authority [**] (the “Pre-Existing Customer Agreements”, and the other party to each such agreement, a “Pre-Existing Digimarc Customer”) upon the [**], or upon [**] such Pre-Existing
Customer Agreement. Digimarc hereby acknowledges and agrees that its authority [**]. 

  
  

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 (b) The IV Entities authorize Digimarc to [**] of Pre-Existing Customer Agreements that [**], and [**] the
IV Entities. Digimarc shall not have any duty to [**] such other [**] with any of the IV Entities. 
 (c) The IV Entities agree not to [**] in
[**] with Digimarc’s authority under this subsection 2.4; provided that this shall not preclude the IV Entities or IV Affiliates from [**] that [**] with such Existing Customer Agreements. 

(d) Each of Digimarc and the IV Entities agrees that, if either a Pre-Existing Digimarc Customer or a prospective licensing customer of the IV Entities
requests [**], Digimarc and the IV Entities will negotiate and work together in good faith to consider such request; provided, however, that this provision shall not obligate either party to [**], at such party’s discretion. 

 

	3.	PROCESS/STATEMENTS OF WORK 

 3.1 ILG, on
behalf of the IV Affiliates, may propose Work to be performed by means of one or more SOWs from time to time. The terms of each SOW shall be subject to mutual agreement between the parties, provided that the billing terms for Work falling within one
of the categories set forth in subsection 2.2 above shall be subject to the provisions of subsection 2.2 that apply to such category. No SOW will be effective unless signed by both ILG and Digimarc. 

3.2 Work performed under this Agreement will be related to factual, technical and legal analyses conducted by attorneys of ILG on behalf of the IV
Entities and/or IV Affiliates, and all direction on Work should be taken only from attorneys of ILG. The Work undertaken by Digimarc shall be subject to attorney-client privilege on behalf of the applicable IV Affiliate, and additionally is part of
and subject to ILG’s attorney work product immunity from production and disclosure. 
 3.3 Except as otherwise agreed upon by the parties
or specified in the SOW, Digimarc will perform the Work at Digimarc’s office, using Digimarc’s own equipment and supplies. Nothing in this Agreement will in any way be construed to characterize Digimarc or its employees as employees,
representatives or agents of any of the IV Entities or IV Affiliates, except as expressly set forth in an SOW in which Digimarc is engaged as a licensing representative on behalf of one or more of the IV Entities or IV Affiliates. 

Digimarc will indemnify and hold harmless the IV Entities, the IV Affiliates, and the directors, officers and employees of each of the IV Entities and IV
Affiliates, from any losses, liabilities, damages, claims, payments, liens, judgments, demands, costs and expenses (including reasonable attorneys’ fees) arising out of (a) a determination by a court or agency that Digimarc or any of its
employees or other agents are employees of any of the IV Entities or IV Affiliates; or (b) any breach of duty owed by Digimarc to a third party. 
 3.4 Digimarc will use all reasonable efforts to avoid any legal or ethical conflict of interest in connection with its performance of the Work. In the event that Digimarc becomes aware of any such
conflict of interest, Digimarc will immediately disclose the conflict to the IV Entities and will use commercially reasonable efforts to resolve the conflict to the IV Entities’ satisfaction. 

  
  

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 3.5 Digimarc will, within ten (10) business days after receiving a request thereto from the IV
Entities, provide a written progress report regarding Digimarc’s performance of the Work to the IV Entities. Each such report shall be deemed to be Work Material. 
 3.6 Within the first calendar quarter following the Effective Date, and at least twice each calendar year, representatives of the IV Entities and Digimarc shall meet to discuss potential new SOWs that may
be entered into during such calendar year. The IV Entities shall use commercially reasonable efforts to provide Digimarc with reasonable notice of any anticipated material changes in the Digimarc resources utilized to perform Work, and any
cancellation of an SOW. Notwithstanding the preceding sentence, however, the IV Entities may direct Digimarc to cease its performance of the Work under any particular SOW upon ten (10) business days’ prior written notice. Unless prohibited
by the IV Entities’ confidentiality obligations, such notice will specify the reasons for the direction to cease performance of the Work under the applicable SOW. 
  

	4.	PERSONNEL 

 4.1 The personnel furnished by
Digimarc to perform Work under each SOW will continue to be employees of Digimarc, and will not for any purpose be considered employees of the IV Entities or of any IV Affiliates. Digimarc will be solely responsible for the payment of the salaries
of its employees and related matters (including the withholding or payment of all federal, state and local income and other payroll taxes), worker’s compensation, disability benefits and all additional legal requirements of like nature
applicable to such personnel. 
 4.2 Digimarc agrees to use commercially reasonable efforts to make available such employees that may be
requested by the IV Entities with reasonable notice for any particular SOW; provided that, except as provided below and in subsection 4.3, Digimarc ultimately retains sole authority in the assignment of its personnel in the performance of Work.
Notwithstanding the preceding sentence, Digimarc may not remove key personnel identified as such for a particular SOW from performance of Work under such SOW after the parties have mutually agreed to such SOW without reasonable prior written notice
to the IV Entities and the IV Entities’ prior written consent, except that the IV Entities’ prior written consent shall not be required if circumstances beyond Digimarc’s reasonable control (but excluding conflicting demands or
priorities within Digimarc’s business) require that such key personnel be removed from performance of Work under such SOW. In the event of any such removal of key personnel by Digimarc, the IV Entities may elect, in their sole discretion, to
either terminate the SOW, or to request particular replacement personnel (which requests Digimarc will use reasonable efforts to accommodate). 

4.3 Notwithstanding the first sentence of subsection 4.2, the IV Entities may require the removal of any Digimarc personnel from the performance of Work
during the course of performing under any SOW, provided that (i) the IV Entities provide Digimarc with five (5) business days prior notice specifying the reasons for the IV Entities’ desire to remove such personnel, and
(ii) Digimarc’s project manager for such SOW has been unable to resolve any specified problems to the IV Entities’ reasonable satisfaction. 
 4.4 Digimarc agrees that it shall not subcontract the performance of any Work under this Agreement without the IV Entities’ prior written consent. 

  
  

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	5.	PAYMENT, MINIMUM FEES, EXPENSES AND TAXES 

5.1 The IV Entities will pay Digimarc the compensation and any expenses set forth in the applicable SOW, subject to any limits set forth in such SOW.
Except as otherwise set forth in the applicable SOW: (i) such compensation shall be billed at the hourly rates set forth on Exhibit B hereto (subject to modifications pursuant to subsection 5.2), and (ii) Digimarc will sign
and submit Invoices to the representative of the IV Entities within thirty (30) calendar days after the end of each calendar month during the Term. 
 Each such Invoice shall detail (a) the Work performed during such month, (b) the fees accrued (if any) pursuant to the SOW during such month, and (c) the expenses incurred (if any) by
Digimarc in such month for which Digimarc is entitled to reimbursement pursuant to the SOW; provided, however, that the IV Entities shall not reimburse Digimarc for any expenses in excess of $2,500 in the aggregate under any particular SOW except as
set forth in the SOW or otherwise pre-approved by the IV Entities’ representative in writing and documented to the IV Entities’ reasonable satisfaction. Digimarc understands that Digimarc is otherwise expected to bear its own costs and
expenses (including travel expenses) except as otherwise specified in the SOW or authorized in this paragraph. 
 Except as otherwise specified
in the applicable SOW, the IV Entities shall pay all undisputed Invoices within thirty (30) days after the representative of the IV Entities receives such Invoices. In the event that the IV Entities fail to make payments more than sixty
(60) days following receipt of an Invoice, upon the request of Digimarc, the IV Entities shall also pay interest on such overdue amount at a rate of [**]% per month (or part thereof), or at such lower rate as may be the maximum rate allowed
under applicable law. All payments under this Agreement shall be in U.S. dollars. 
 5.2 The hourly rates set forth in Exhibit B will remain
valid throughout the remainder of 2010. These hourly rates may be increased no more than once per calendar year, with any such increase to be effective on January 1 of such calendar year. Any such increase shall not exceed the lesser of
(i) the rate of increase determined mutually by Digimarc and the IV Entities based on the report customarily used by Digimarc for average rates of wage and benefits inflation or deflation for similar project work, and (ii) five percent
(5%) above the prior year’s rates. 
 5.3 Digimarc shall be responsible for any tax obligations arising from any payment made to
Digimarc under this Agreement. Digimarc is obligated to report as gross receipts and revenue all compensation received by Digimarc pursuant to this Agreement. 
 5.4 The IV Entities intend to engage Digimarc for a volume of Work, and Digimarc shall be available to perform such Work as specified pursuant to the periodic meetings between the parties held in
accordance with subsection 3.6 and otherwise upon reasonable advance notice from the IV Entities, at a cost run rate of at least $800,000 per twelve-month period following the Effective Date of this Agreement during the Required Term (defined in
subsection 7.1) based on the billing rates set forth on Exhibit B (subject to adjustment as provided in subsection 5.2). 
 The IV Entities
shall pay Digimarc for Work performed by Digimarc under each SOW as provided in subsection 5.1; provided, however, that the IV Entities shall pay Digimarc a 

  
  

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minimum payment (net of any amounts paid under Invoices during such calendar quarter) of $100,000 per calendar quarter at least ten (10) business days prior to the end of each of the first
three calendar quarters per twelve month period during the Required Term. 
 In the event that the IV Entities have made payments under this
Agreement of less than $800,000 during any twelve-month period during the Required Term, the IV Entities shall make a payment equal to $800,000, less the amount of all payments made under this Agreement during such twelve-month period (the
“Year-End Payment”), to Digimarc at least ten (10) business days prior to the end of such twelve-month period. 

In the event that the IV Entities are required to make a Year-End Payment, then the IV Entities shall receive a credit for the amount of the Year-End
Payment that may be applied towards the cost of Work to be performed by Digimarc during the next twelve-month period (or, with respect to a Year-End Period made during the fifth year of the Required Term, for the twelve-month period following the
expiration of the Required Term); provided, however, that such credit shall not exceed $[**] for any given twelve-month period. To the extent that the IV Entities make payments under this Agreement in excess of $800,000 during any twelve-month
period during the Required Term (“Excess Payments”), the $800,000 payment obligation during the immediately subsequent twelve-month period shall be reduced by the amount of such Excess Payments. All amounts paid by the IV
Entities or by an IV Affiliate to Digimarc for any Work shall apply towards the minimum payment obligations provided for above. 
 In the event
that Digimarc fails to comply with Section 6 with respect to Work provided hereunder, and Digimarc fails to remedy (in the IV Entities’ reasonable determination) the failure under this Agreement within the time period specified in
Section 6, then the IV Entities will be entitled to a remedy as determined under subsection 12, where such remedy may include being relieved of all further obligations under this subsection 5.4. 

Unless terminated earlier under this subsection 5.4 or under Section 7, the IV Entities’ obligations under this subsection 5.4 will expire upon
the earlier of (a) the date on which the cumulative total amount paid by the IV Entities and IV Affiliates to Digimarc pursuant to this Agreement exceeds Four Million Dollars ($4,000,000), or (b) the date that is five (5) years after
the Effective Date (the “Required Term”), notwithstanding any extension of the term of this Agreement. 
  

	6.	DIGIMARC’S PERFORMANCE 

 Digimarc (as
an Entity) warrants that the Work provided under this Agreement will substantially conform to the Work described, and the requirements and procedures set forth, in the applicable SOW, and will be performed in a timely and professionally diligent
manner by qualified personnel as measured against the customary industry standards for such Work. In the event the IV Entities are dissatisfied with any Work performed by Digimarc, the IV Entities may elect to provide written notice (which shall
describe the nonconformity in reasonable detail) to Digimarc, in which case Digimarc shall have thirty (30) calendar days after receipt of such notice to correct the nonconformity and provide the revised Work Materials to the IV Entities.

  

	7.	TERM AND TERMINATION 

  
  

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 7.1 The term of this Agreement (the “Term”) will commence on the Effective Date and
will remain in effect for the term of the PLA, unless otherwise terminated in accordance with this Section 7 or unless the term of this Agreement is extended by mutual written agreement of the parties. In the event that the PLA is terminated,
this Agreement shall automatically terminate concurrently with the termination of the PLA. 
 7.2 If either party breaches any of its material
obligations under this Agreement (including without limitation Section 6) and fails to cure such breach within thirty (30) days after notice thereof from the non-breaching party, the non-breaching party will have the right to [**].

 7.3 In the event of an Acquisition Transaction (as defined in the PLA) involving Digimarc, the IV Entities and Digimarc agree to negotiate in
good faith regarding continuation of this Agreement, on the same or modified terms, following the completion of such Acquisition Transaction, provided that the continuation of this Agreement does not, in the reasonable determination of the IV
Entities, present a business or legal conflict for the IV Entities. 
 7.4 In the event that the Patent License Agreement is terminated as a
result of a material breach by Digimarc of such agreement, the IV Entities shall be entitled to terminate this Agreement without further obligation under subsection 5.4. 
 7.5 Upon termination or expiration of this Agreement, all rights and duties of the parties hereunder will cease, except that: 
 (a) In the case of early termination under subsection 7.2 of the work under subsection 2.2, the IV Entities will be obligated to pay all undisputed Invoices, in accordance with Section 5 above, for
Work performed prior to termination; provided, however, that the IV Entities shall have no obligation to pay such outstanding amounts if the IV Entities terminate this Agreement pursuant to subsection 7.2 above for Digimarc’s gross negligence
or willful misconduct in the performance of the Work corresponding to the outstanding amounts. 
 (b) In the case of such early termination for
any other reason, the IV Entities shall not be obligated to pay any of the remaining unpaid Minimum Fees notwithstanding any other provision of this Agreement. 
 (c) Sections 2.4, 8, 9, 10, 11 and 12 will survive any termination or expiration of this Agreement. Subsection 2.4 shall end on the termination or expiration of the Patent License Agreement. 

 

	8.	REPRESENTATIONS 

 8.1 Digimarc represents
and warrants to the IV Entities as follows: 
 (i) Digimarc is an independent entity, and Digimarc’s personnel are not, and will not be
deemed to be, employees or Counsel of any of the IV Entities or IV Affiliates. 
 (ii) Except as otherwise specified in a SOW, Digimarc has the
right to perform the Work at any place or location and at such times as Digimarc may determine. Digimarc is under no ethical or legal restrictions that would prohibit or restrict Digimarc’s right,

  
  

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power and authority to perform the Work. 
 (iii) Digimarc is responsible for paying all
ordinary and necessary expenses of its staff, including, without limitation, insurance premiums. Neither Digimarc nor Digimarc’s staff will require any training from the IV Entities in the professional skills necessary to perform the Work.

 8.2 Each party represents and warrants that it was represented by independent counsel in the creation of this Agreement. 

 

	9.	ATTORNEY-CLIENT RELATIONSHIP DISCLAIMER 

Nothing in this Agreement, or in any other agreement or understanding between the parties, affects the separate and independent representation of each
party by its respective Counsel or creates an attorney-client relationship between the Counsel for a party (or any of that party’s employees) and the other party to this Agreement. 
 The IV Entities acknowledge that Digimarc’s in-house Counsel may not engage in the practice of law on behalf of an entity other than Digimarc and acknowledge that no activities under this Agreement,
or under any other agreement or understanding between the parties, shall be deemed legal representation by Digimarc or Digimarc’s in-house Counsel for the IV Entities. 
 Each party hereby grants the other party and its Counsel the right to communicate with persons represented by each party’s Counsel. 

 

	10.	CONFIDENTIALITY 

 10.1 In addition to the
terms and conditions of the Reciprocal Non-Disclosure Agreement dated July 13, 2009, as amended (“NDA”), which shall continue to apply to the parties hereto, Digimarc will not, during or subsequent to the Term, use Confidential
Information for any purpose whatsoever other than the performance of the Work, and will not disclose Confidential Information to any third party. Confidential Information will remain the sole property of the IV Entities and/or the IV Affiliates, as
applicable. Digimarc will take reasonable precautions to prevent any unauthorized disclosure of Confidential Information. Digimarc will safeguard Confidential Information by not: 
 (a) disclosing to any third party in any way the results of any analysis prepared under this Agreement; 
 (b) marketing to any third party services to analyze any invention disclosures, patents, or patent applications that are analyzed or reviewed as part of the Work; 

(c) preparing for any third party a defensive analysis of the patents reviewed as part of the Work; 

(d) using Confidential Information learned as part of the Work to guide Digimarc’s or a third party’s intellectual property development or
enforcement strategies; 
 (e) disclosing to any standards setting organization any information learned as part of the Work; 

  
  

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 (f) disclosing the IV Entities’ or IV Affiliates’ connections to any of the patents reviewed by
Digimarc in connection with the Work or disclosed to Digimarc by the IV Entities or IV Affiliates; or 
 (g) disclosing or permitting disclosure
of any Confidential Information to any of Digimarc’s employees other than those that have a need to know in order to enable Digimarc to meet its obligations under the applicable SOW. 
 10.2 Digimarc will not improperly use or disclose to the IV Entities and the IV Affiliates any proprietary information or trade secrets of any former or current employer or other person or entity if
Digimarc has an agreement or duty to keep such information confidential, and Digimarc will not bring onto the premises of the IV Entities or IV Affiliates any unpublished document or proprietary information belonging to such employer, person or
entity unless consented to in writing by such employer, person or entity. Digimarc will indemnify and hold harmless the IV Entities and IV Affiliates, their employees, executives, officers, representatives, agents, assigns, and their affiliates from
and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in connection with any violation or claimed violation by Digimarc, the IV Entities or an IV Affiliate of such
third party’s rights. 
 10.3 Digimarc’s confidentiality obligations under this Section 10 shall not apply to the extent that:
(a) the representative for the IV Entities preapproves such disclosure in writing; (b) disclosures are made in confidence to Digimarc’s legal counsel, accountants, banks and financing sources and their advisors solely in connection
with complying with Digimarc’s obligations under this Agreement; or (c) the Confidential Information to be disclosed has become publicly known through no wrongful act of Digimarc. 
 Notwithstanding the foregoing, in the event that Digimarc is required by law or a valid and effective subpoena or order issued by either a court of competent jurisdiction or a governmental body to
disclose any of the Confidential Information, Digimarc shall promptly notify the IV Entities in writing of the existence, terms, and circumstances surrounding such required disclosure so that the IV Entities or IV Affiliates may seek a protective
order or other appropriate relief from the proper authority. Digimarc shall cooperate with the IV Entities and/or the IV Affiliate(s), as applicable, in seeking such order or other relief. If Digimarc is nonetheless required to disclose the
Confidential Information, Digimarc may furnish only that portion of the Confidential Information that is legally required and will exercise all reasonable efforts to obtain reliable assurances that such Confidential Information will be treated
confidentially to the fullest extent possible. 
 10.4 Upon the termination or expiration of this Agreement, or upon the IV Entities’
request, Digimarc will deliver to the IV Entities all of the IV Entities’ and/or IV Affiliates’ property relating to, and all tangible embodiments of, Confidential Information. 

 

	11.	OWNERSHIP OF WORK MATERIAL/INTELLECTUAL PROPERTY RIGHTS 

 11.1 Digimarc acknowledges and agrees that, except as otherwise explicitly set forth in the applicable SOW, all Work Material is the sole property of the IV Entities. To the fullest extent permitted under
law, all Work Material will be deemed “Work for Hire” 

  
  

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under the Copyright Act. To the extent any Work Material is not “Work for Hire,” Digimarc hereby does and will assign (or cause to be assigned) fully to the IV Entities all Work
Material and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. 
 11.2 Except as otherwise
explicitly set forth in the applicable SOW, for Work Material created by Group 2 Personnel in the course of Digimarc’s performance of the Work, the IV Entities grant to Digimarc a fully paid-up, royalty-free, non-exclusive, irrevocable,
nonsublicensable, nontransferable (except as set forth in subsection 12.8) right and license, without geographic limitation, to the Work Material in order (a) to make, have made, use, lease, sell (or license, in the case of software), offer to
sell, import or export any Digimarc Product, (b) to conduct Digimarc’s own research and development activities, and (c) to provide Digimarc Services to third parties. 
 11.3 Digimarc will sign, execute and acknowledge without cost, but at the expense of the IV Entities, such documents, and will perform such acts, as may be reasonably requested by the IV Entities to
perfect the assignments set forth in subsection 11.1 above, or to obtain, enforce or defend intellectual property rights in any and all countries with respect to Work Material. Digimarc shall have no right to prosecute and maintain patent
applications and patents worldwide with respect to the Work Material. 
 11.4 Upon the termination or expiration of this Agreement, or upon the
IV Entities’ request, Digimarc will deliver to the IV Entities all Work Material in Digimarc’s possession or control. For Work Material created by Group 2 Personnel in the course of Digimarc’s performance of the Work, Digimarc shall
also retain duplicates of the same. 
  

	12.	GENERAL 

 12.1 Governing Law. This
Agreement will be governed by the laws of the State of Washington as applied without reference to conflicts of laws principles to the contrary. 

12.2 Dispute Resolution. 
 (a)
Arbitration. Digimarc and the IV Entities agree that any dispute or controversy arising out of, in relation to, or in connection with this Agreement, or the making, interpretation, construction, performance or breach thereof, will be finally
settled by binding arbitration in Seattle, Washington under the then current rules of Judicial Dispute Resolution by three (3) arbitrators appointed in accordance with such rules. Once the arbitrators issue written findings of fact and
conclusions of law, the decision of the arbitrators will be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrators’ decision in any court of competent jurisdiction (provided that the
arbitrators issued written findings of fact and conclusions of law as provided above). Any provision of applicable law notwithstanding, no party will request, and the arbitrators will have no authority to award, punitive or exemplary damages against
any party. The costs of the arbitration, including administrative and arbitrator’s fees, will be shared equally by the parties. Each party will bear the cost of its own attorneys’ fees and expert witness fees. 

(b) Injunctive Relief. Notwithstanding subsection 12.2(a) above, in addition to any other remedies available (including without limitation under
subsection 12.2(a)), in the event of a breach of Sections 10 or 11, the nonbreaching party (or any IV Affiliate 

  
  

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affected by the breach) will be entitled to seek injunctive relief in any court of competent jurisdiction. A breach of Sections 10 or 11 may cause the nonbreaching party and any IV Affiliate
affected by the breach irreparable harm and they may have no adequate remedy at law. Therefore, the breaching party agrees that, in such an event, the nonbreaching party (and any IV Affiliate affected by the breach) would be entitled (in addition to
any and all other remedies) to seek injunctive relief, specific performance, and other equitable remedies without proof of monetary damages or the inadequacy of other remedies. 
 12.3 Notices. Any notice will be given in writing at the address of each party set forth in the first paragraph of this Agreement, or to such other address as either party may substitute by written
notice to the other in accordance with this subsection 12.3, and will be deemed given when delivered or, if delivery is not accomplished by reason or some fault of the addressee, when tendered. 

12.4 Entire Agreement. This Agreement with its Exhibits, together with the CIA, PLA and the PRA, represent the entire agreement concerning the
performance of the Work between Digimarc and the IV Entities and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions. Neither of the parties will be bound by any conditions, definitions,
warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein and/or in the CIA, PLA or PRA. No oral explanation or oral information by either party hereto will alter the meaning or
interpretation of this Agreement. The terms and conditions of this Agreement will prevail notwithstanding any different, conflicting or additional terms and conditions that may appear on any letter, email or other communication or other writing not
expressly incorporated into this Agreement. 
 12.5 No Third Party Beneficiaries. This Agreement is not intended to confer any right or
benefit on any third party (including, but not limited to, any employee or beneficiary of any party), and no action may be commenced or prosecuted against a party by any third party claiming as a third-party beneficiary of this Agreement or any of
the transactions contemplated by this Agreement. 
 12.6 Amendments and Waivers. This Agreement may not be amended or modified except by
an instrument in writing signed by authorized representatives of both parties. Waiver of any term or condition of this Agreement will only be effective if and to the extent documented in a writing signed by the party making or granting such waiver
and will not be construed as a waiver of any subsequent breach or waiver of the same term or condition, or a waiver of any other term or condition, of this Agreement. The failure of any party to enforce any provision hereof will not be construed to
be a waiver of the right of such party thereafter to enforce such provisions. 
 12.7 No Partnership. The parties hereto are independent
contractors. Nothing in this Agreement will be construed to create a partnership, joint venture, franchise, fiduciary, employment or agency relationship between the parties. Digimarc has no right, power or authority (express or implied) to enter
into contract or to create any duty or obligation binding upon the IV Entities or the IV Affiliates. 
 12.8 Assignment. The payment
obligation of IV under subsection 5.4 of this Agreement may not be assigned or transferred by Digimarc without the express written consent of the IV Entities, subject to the “good faith” obligation in subsection 7.3.

  
  

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Digimarc may not assign the remaining terms of this Agreement or its rights hereunder, including by operation of law, without the prior written consent of the IV Entities except in conjunction
with an assignment by Digimarc of the Patent License Agreement and/or its rights thereunder that is permitted by subsection 11.3 of such Patent License Agreement. 
 The IV Entities may assign this Agreement or any or all of its rights and obligations hereunder to any IV Affiliate or to an unaffiliated third party that is managed and controlled by representatives of
the IV Entities; provided, that such assignment shall not release the IV Entities from their payment obligations under this Agreement. 

12.9 Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement will continue in full force and effect without said provision, provided that no such severability will be effective if it materially changes the economic benefit of this Agreement to the IV Entities or Digimarc.

 12.10 Counterparts. This Agreement may be executed in counterpart, each of which will be deemed an original, but both of which
together will constitute one and the same instrument. Each party will execute and promptly deliver to the other parties a copy of this Agreement bearing an original signature. Prior to such delivery, in order to expedite the process of entering into
this Agreement, the parties acknowledge that a Transmitted Copy of this Agreement will be deemed an original document. “Transmitted Copy” means a copy bearing a signature of a party that is reproduced or transmitted via email
of a .pdf file, photocopy, facsimile, or other process of complete and accurate reproduction and transmission. 

  
  

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 In witness whereof, intending to be legally bound, the parties have executed this Agreement
as of the Effective Date. 
 DIGIMARC: 
  

			
	Digimarc Corporation
		
	By:	 	/s/ Bruce Davis
		 	Bruce Davis
		 	Chairman and CEO
	
	Date: October 5, 2010

  

			
	THE IV ENTITIES:
	
	Invention Law Group, P.C.
		
	By:	 	/s/ John Bove
		 	John Bove
		 	President
	
	Date: October 5, 2010

  

			
	IV Digital Multimedia Inventions, LLC 
		
	By:	 	/s/ Vincent Pluvinage
		 	Vincent Pluvinage
		 	Authorized Person
	
	Date: October 5, 2010

[Signature Page to Work Agreement] 

  
  

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 EXHIBIT A 
 STATEMENT OF WORK 
 <<TBD>> 

  
  

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 EXHIBIT B* 
 Hourly Rates for 2010 
 Group 1 Personnel 

Vice President, Intellectual Property $[**] 

Chief Patent Counsel $[**] 
 Senior Intellectual
Property Counsel $[**] 
 Senior Director, Licensing $[**] 
 Intellectual Property Counsel $[**] 
 Attorney $[**] 

Senior Intellectual Property Paralegal $[**] 

Paralegal $[**] 
 Group 2 Personnel

  

									
	Position	  	Cost	 	  	Rate	 
	 Vice President
	  	$	[**]	  	  	$	[**]	  
	 Founder/Inventor
	  	$	[**]	  	  	$	[**]	  
	 Director
	  	$	[**]	  	  	$	[**]	  
	 Program Manager
	  	$	[**]	  	  	$	[**]	  
	 Engineering Manager
	  	$	[**]	  	  	$	[**]	  
	 Engineer – R&D
	  	$	[**]	  	  	$	[**]	  
	 Engineer – Hardware
	  	$	[**]	  	  	$	[**]	  
	 Engineer – Software
	  	$	[**]	  	  	$	[**]	  
	 QA Manager
	  	$	[**]	  	  	$	[**]	  
	 Engineer – QA
	  	$	[**]	  	  	$	[**]	  
	 Technical Writer
	  	$	[**]	  	  	$	[**]	  
	 Product/Other
	  	$	[**]	  	  	$	[**]	  
	 Technical Operator
	  	$	[**]	  	  	$	[**]	  

  

	*	Unless otherwise set forth in a written agreement signed by the parties, executive level assistance will [**] will be made reasonably available to assist for [**] in
support of the Patent License Agreement. 

  
  

** CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00185-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00185-of-00352.parquet"}]]