Document:

Exhibit 10.3

 

ASSIGNMENT OF PATENT RIGHTS

 

This Assignment of Patent Rights (“Patent
Assignment”) is made and entered into this 3rd day of April, 2009 (the “Effective Date”) by and between
Robert Joseph Mears of 12 High Meadow Circle, Wellesley, Massachusetts 02482 (“Assignor”) and Mears Technologies, Inc.,
a corporation organized and existing under the laws of the State of Delaware, and having a usual place of business at 1100 Winter
Street, Suite 4700, Waltham, Massachusetts 02451 (“Assignee”).

 

WHEREAS, Assignor and BTG International Limited,
a company whose registration number in England and Wales is 2664412 and whose registered address is at 10 Fleet Place, Limeburner
Lane, London, EC4M 7SB, England (“BTG”) entered into an Assignment Agreement dated May 14, 2004 (the “Agreement”)
pursuant to which Assignor acquired, upon the terms and conditions set forth in the Agreement, all of BTG’s right, title,
and interest in and to the patents and patent applications (and patents issuing on such applications) listed in Schedule A attached
hereto (collectively, the “Patent Rights”);

 

WHEREAS, BTG consented, upon the terms and conditions
set forth in the Agreement, to the assignment of the Patent Rights by Assignor to RJ Mears, LLC, a limited liability company organized
under the laws of the state of Delaware, and having a usual place of business at 1100 Winter Street, Suite 4700, Waltham, Massachusetts
02451 (“RJ Mears”);

 

WHEREAS, RJ Mears was converted to Assignee
pursuant to that certain Certificate of Conversion to Corporation of RJ Mears, LLC to Mears Technologies, Inc. dated March 14,
2007; and

 

WHEREAS, Assignee now desires to acquire all
right, title, and interest in and to the Patent Rights, and agrees to assume certain obligations set forth in the Agreement;

 

NOW, THEREFORE, in accordance with the foregoing
recitals, and in consideration of the mutual covenants contained herein, Assignor and Assignee, intending to be legally bound,
hereby agree as follows:

 

1.          Assignor
hereby sells, assigns, transfers, and conveys unto Assignee, its successors, assigns, and legal representatives, Assignor’s
entire right, title, and interest in and throughout the United States of America, its territories and all foreign countries,
in and to the invention(s) described and/or claimed in the Patent Rights (the “Inventions”), together with Assignor’s
entire right, title, and interest in and to the Patent Rights and such other patents as may issue thereon or claim priority thereto
under United States law or international convention, including but not limited to non-provisionals, continuations, divisionals,
reissues, reexaminations, extensions, and substitutions of patents and patent applications within the Patent Rights or such other
patents, and any right, title, and interest Assignor may have in applications to which the Patent Rights claim priority; the Inventions
and the Patent Rights to be held and enjoyed by Assignee for its own use and behalf and for its successors, assigns, and legal
representatives to the full end of the term for which said patents may be granted as fully and entirely as the same would have
been held by Assignor had this assignment and sale not been made; and Assignor hereby conveys all of its rights arising under or
pursuant to any and all United States laws and international agreements, treaties, or laws relating to the protection of industrial
property by filing any such applications for patent, including but not limited to any cause(s) of action and damages accruing prior
to this assignment. Assignor hereby acknowledges that this assignment, being of Assignor’s entire right, title, and interest
in and to the Inventions and the Patent Rights, carries with it the right in Assignee to apply for and obtain from competent authorities
in all countries of the world any and all patents by attorneys and agents of Assignee’s selection and the right to procure
the grant of all patents to Assignee in its own name as assignee of Assignor’s entire right, title, and interest therein.

 

    – 1 –

     

    

 

2.          In
consideration for the assignments granted hereunder, Assignee shall, within ninety (90) calendar days after the date of receipt
thereof, pay to each of (i) Assignor, (ii) Adam David Cohen formerly of 43 Princes Court, Cambridge, CB2 1JJ, England, (iii) Stephen
Thomas Warr of 50 Fountains Road, Ipswich, IP2 9ET, England, and (iv) Michael Charles Parker of 2 The Gallop, Sutton, Surrey, SM2
5RU, England (each, individually, an “Inventor”) a royalty, at a rate of ten percent (10%) to each Inventor, on all
revenue, if any, received in respect of the licensing of the Patent Rights (the “Inventor Payments”); provided, however,
that Assignee shall not pay, and shall not be obligated to pay, any Inventor Payments until the payments set forth in paragraph
3 have been satisfied in full. The total amount of all payments properly made by Assignor to Assignee under this Patent Assignment
shall be inclusive of all taxes (including, without limitation, sales and value added taxes), tariff, duty, or assessment levied
or imposed by the government of any jurisdiction in respect of any rights granted hereunder.

 

3.          Prior
to making, or being obligated to make, any of the Inventor Payments set forth in paragraph 2, Assignee shall first pay, within
ninety (90) calendar days after the date of receipt thereof, to BTG a royalty, at a rate of forty percent (40%), on all revenue,
if any, received in respect of the licensing, manufacture, sale, or other commercialization of the Patent Rights, until the aggregate
of all such payments to BTG amounts to the sum of £19,641 (the “BTG Payments”).

 

4.          Assignor
represents and warrants that (i) Assignor is not presently, nor has Assignor ever been, in violation or default of any provision
of the Agreement, (ii) as of the Effective Date of this Patent Assignment, Assignor has not made, and was not obligated to make,
any payments to BTG under clause 4(1) of the Agreement, and (iii) no payments from Assignor to BTG are due within ninety (90) calendar
days from the Effective Date of this Patent Assignment under clause 4(1) of the Agreement.

 

5.          Assignee
agrees to keep proper accounts of its receipts that are the subject of paragraphs 2 and 3 of this Patent Assignment, and that Assignee
will on request produce the same for inspection by Assignor (in the case of the Inventor Payments due under paragraph 2 of this
Patent Assignment) or a duly authorized representative of BTG (in the case of the BTG Payments due under paragraph 3 of this Patent
Assignment) together with any invoices or vouchers relating thereto for the purposes of verification.

 

6.          Assignee
agrees that it will not, without the prior written consent of BTG, assign or otherwise part with possession of its rights in the
Patent Rights (except by way of license thereunder) until the sum of £19,641 has been paid to BTG in satisfaction of the
BTG Payments set forth in paragraph 3.

 

    – 2 –

     

    

 

7.          Assignor
hereby further agrees for himself and his executors and administrators to execute upon request any other lawful documents and likewise
to perform any other lawful acts which may be deemed necessary to secure fully the Patent Rights to Assignee, its successors, assigns,
and legal representatives, as well as to third parties at the request of Assignee, including the execution of documents (including,
without limitation, petitions, specifications, oaths, assignments, disclaimers, declarations, and affidavits) relating to non-provisional,
substitution, continuation, divisional, reissue, reexamination, or corresponding foreign or international patent applications within
the Patent Rights, as requested by Assignee, and generally do everything possible to aid Assignee, its successors, assigns, and
legal representatives to obtain, record, maintain, and enforce full protection for the Inventions in all countries.

 

8.          Assignor
hereby further agrees to provide documentary evidence and statements or testimony in any interference, opposition, reexamination,
reissue, or other proceeding in which any of the Patent Rights may be involved.

 

9.          Assignor
hereby warrants that he has not knowingly conveyed to others any rights in the Patent Rights or the Inventions or any license to
use the same or to make, use, or sell anything embodying or utilizing any of the Inventions, and that Assignor has good right and
clear title to assign the Inventions and the Patent Rights without encumbrance.

 

10.         Assignor
does hereby authorize the Director of the United States Patent & Trademark Office, and the empowered officials of all other
governments whose duty it is to record patents, applications, and title thereto, to record the Patent Rights and title thereto
as the property of Assignee, its successors, assigns, or legal representatives, in accordance with the terms of this Patent Assignment.

 

11.        Assignor
does hereby further authorize and request the Director of the United States Patent and Trademark Office and the empowered officials
of all other governments to issue such Patent Rights or patents as shall be granted upon the Patent Rights, or applications based
thereon, to Assignee, its successors, assigns, or legal representatives.

 

12.        Assignee
and Assignor also agree that multiple copies of this Patent Assignment may be executed, each of which shall be deemed an original,
and each of which shall be valid and binding upon Assignee and Assignor.

 

13.        No modifications
of, or additions to, this Patent Assignment shall have effect unless in writing and properly executed by both Assignor and Assignee,
making specific reference to this Patent Assignment by date, parties, and subject matter. This Patent Assignment and the rights
and obligations of the parties hereunder shall be governed by and construed in accordance with the Patent Laws of the United States
and the laws of the Commonwealth of Massachusetts, without regard to the Commonwealth’s conflict of laws principles.

 

[Remainder of page intentionally left
blank]

 

    – 3 –

     

    

 

IN WITNESS WHEREOF, Assignor and Assignee, through
its duly authorized officer, have caused this Patent Assignment to be executed as of the date first written above.

 

	 	/s/ Robert Joseph Mears
	 	ROBERT JOSEPH MEARS

 

On this 3rd day of April, 2009,
before me, the undersigned Notary Public, personally appeared Robert Joseph Mears, proved to me through satisfactory evidence
of identification, which was/were personally known, to be the person whose name is signed on the preceding or attached document,
and who swore or affirmed to me that the contents of the document are truthful and accurate to the best of his knowledge and belief.

 

	/s/ KEVIN T. McNULTY	 		    (Seal)
	Signature of Notary	 	 
	 	 	 
	My Commission Expires:	 	 
	 	 	 

  

	 	MEARS TECHNOLOGIES, INC.
	 	By:	Steven Levy
	 	Its:	CEO

 

On this 31st day of March,
2009, before me, the undersigned Notary Public, personally appeared Steven Levy, proved to me through satisfactory evidence of
identification, which was/were personally known, to be the person whose name is signed on the preceding or attached document,
and who swore or affirmed to me that the contents of the document are truthful and accurate to the best of his/her knowledge and
belief. The above-indicated individual is duly authorized to execute this document singly on behalf of Assignee and executed this
document of his/her own free will.

 

	/s/ KEVIN T. McNULTY	 	 	    (Seal)
	Signature of Notary	 	 
	 	 	 
	My Commission Expires:	 	 
	 	 	 

  

 

    – 4 –

     

    

 

SCHEDULE A

 

Patent Rights

 

	Country or

Region	 	Application No.	 	Filing Date	 	Patent

    No.	 	Issue Date
	United Kingdom	 	9616598.0	 	August 7, 1996	 	 	 	 
	Europe	 	97935667.2	 	August 7, 1997	 	0917776	 	July 5, 2006
	Japan	 	98/507742	 	August 7,1997	 	 	 	 
	United States of America	 	09/245,217	 	
        August
7, 1997 

(Filing Date of PCT) 

         

        February 5, 1999

        (§371 Date)
	 	 	 	 
	United States of America	 	10/375,006	 	February 28, 2003	 	 	 	 
	United States of America	 	10/134,533	 	April 30, 2002	 	 	 	 
	International (PCT)	 	PCT/GB97/02131	 	August 7, 1997	 	 	 	 
	United Kingdom	 	9419757.1	 	September 30, 1994	 	 	 	 
	Germany	 	69525756.0	 	September 29, 1995	 	0783713	 	March 6, 2002
	Europe	 	95932845.1	 	September 29, 1995	 	0783713	 	March 6, 2002
	France	 	95932845.1	 	September 29, 1995	 	0783713	 	March 6, 2002
	United Kingdom	 	95932845.1	 	September 29, 1995	 	0783713	 	March 6, 2002
	Italy	 	95932845.1	 	September 29, 1995	 	0783713	 	March 6, 2002
	United States of America	 	08/817,876	 	
        September 29, 1995 

(Filing Date of
        PCT)

         

        July 24, 1997

        (§37l Date)
	 	6,141,361	 	October 31, 2000
	International (PCT)	 	PCT/GB95/02326	 	September 29, 1995Exhibit 10.4

 

LICENSE AGREEMENT

 

THIS AGREEMENT (the “Agreement”)
is entered into this 22nd day of December, 2006 (the “Effective Date”), by and among RJ Mears LLC, a Delaware
limited liability company with a principal place of business at 1100 Winter Street, Suite 4700, Waltham, Massachusetts, 02451 (“Mears”),
ASM America, Inc. (“ASM America”), a Delaware corporation with a principal place of business at 3440 East University
Drive, Phoenix, Arizona, 85034, and ASM International, N.V. (“ASM International”), a Netherlands corporation with a principal
place of business at Jan van Eycklaan 10, 3723 BC Bilthoven, Netherlands. ASM America, ASM International and their Affiliates (as
defined below) are collectively referred to as “ASM.” Mears and its Affiliates (as defined below) are collectively referred
to as “Mears.” Mears and ASM are collectively referred to as the “Parties.”

 

WITNESSETH THAT: 

 

WHEREAS, ASM is the owner of certain patent
rights and has the right to grant licenses under said patent rights;

 

WHEREAS, Mears desires to obtain a license
under the patent rights upon the terms and conditions hereinafter set forth.

 

NOW, THEREFORE, ASM and Mears hereby agree as follows:

 

ARTICLE I

    

Definitions

 

As used in this Agreement:

 

“Affiliate” shall mean
any legal entity (such as a corporation, partnership, or limited liability company) that is controlled by a Party. For the purposes
of this definition, the term “control” means (i) beneficial ownership of at least fifty percent (50%) of the voting securities
of a corporation or other business organization with voting securities or (ii) a fifty percent (50%) or greater interest in the
net assets or profits of a partnership or other business organization without voting securities.

 

“Equipment” shall mean
equipment used to manufacture semiconductors and components of equipment used to manufacture semiconductors.

 

“Licensed Product” shall
mean products comprising Permitted Structures that absent the license granted hereunder, would infringe one or more Licensed Claims.

 

“Licensed Process” shall
mean any process of making Permitted Structures that, absent the license granted hereunder, would infringe one or more Licensed
Claims.

 

“Net Revenues” shall
mean gross monetary receipts and the cash equivalent of non-monetary consideration receivable by Mears or any of its affiliates,
calculated in accordance with generally-accepted accounting principles consistently applied from the sale or other disposition
of Licensed Products or the performance of Licensed Processes, including revenue from the sub-licensing of Licensed Claims, in
an arm’s-length transaction, net of all separately stated taxes (other than taxes on income), interest and other finance charges
paid by customers, customs duties and other governmental charges, transportation, insurance and storage charges and refunds and
adjustments actually paid or incurred.

 

“Licensed Claims” shall
mean any and all non-Equipment claims entitled to priority to U.S. Serial No. 09/227,679 and/or 60/070,991, including, without
limitation, non-Equipment claims in U.S. Patent Nos. 6,749,687 and 7,105,055.

 

 

    	 	1	 

     

    

  

“Permitted Structures”
shall mean (i) structures that include multiple sequences of a non-semiconductor layer adjacent a mono-crystalline semiconductor
layer and (ii) structures that include a monolayer of atomic oxygen at an areal density in the range 1013/cm2
to I 015/cm2 between two high quality, single crystal silicon layers for the purpose of achieving enhanced
semiconductor device performance.

 

“Reporting Period” shall
begin on the first day of each calendar half-year and end on the last day of such calendar half-year,

 

“Term” shall mean the
term of this Agreement, which shall commence on the Effective Date and shall remain in effect until the expiration or abandonment
of all issued patents and filed patent applications containing the Licensed Claims, unless earlier terminated in accordance with
the provisions of this Agreement.

 

“Territory” shall mean worldwide.

 

ARTICLE II

 

License Grant 

 

Subject to the terms of this
Agreement, ASM hereby grants to Mears and its Affiliates for the Term a nonexclusive license, with the right to sublicense, under
the Licensed Claims to develop, make, have made, use, sell, offer to sell, lease, and import Licensed Products in the Territory
and to develop and perform Licensed Processes in the Territory. Nothing in this Agreement is intended to grant a license to anyone
to make, use, sell, offer to sell, lease, or import Equipment that infringes any patent owned by ASM.

 

ARTICLE III

 

Royalty

 

With respect to Licensed Products made
and/or Licensed Processes performed using Equipment manufactured or sold by ASM (“ASM Equipment”), Mears agrees to
pay to ASM America a royalty of 21⁄2% of Net Revenues. With respect to Licensed Products made and/or Licenses Processes performed
using Equipment other than ASM Equipment, Mears agrees to pay to ASM America a royalty of 5% of Net Revenues.

 

ARTICLE IV

 

Records, Reports and Payment of Royalty

 

1. Mears shall keep accurate records
in sufficient detail to enable royalties payable hereunder to be determined and shall permit such records to be inspected and copied
once each calendar year during reasonable business hours by ASM’s certified public accountants, in accordance with the principles
and practices normally employed by certified public accountants and upon the giving of reasonable written notice to Mears by ASK.
ASM’s certified public accountants shall only make such inspection as is necessary to verify the amount of royalties payable hereunder
and shall only report to ASM the amount of royalties due and payable under this Agreement.

 

2. Mears agrees to report to ASM not
later than the last day of the calendar month following the end of each calendar half-year during the life of this Agreement in
respect to all royalties due hereunder during the preceding calendar half-year. Each such report shall be accompanied by full payment
of the total royalty due to ASM for such calendar half-year pursuant hereto.

  

 

    	 	2	 

     

    

  

ARTICLE V

 

Assignment and Termination

 

1. The rights and obligations of Mears
hereunder may be assigned together to an Affiliate of Mears, or to any person or business entity which acquires substantially all
of the assets or capital stock of Mears. Otherwise, the rights of Mears hereunder shall not pass to third parties either by act
or deed of Mears or by operation of law.

 

2. Except as is otherwise provided
herein, this Agreement and every one of the terms and conditions thereof shall be available to and binding upon the assigns, legal
representatives and/or successors in business of ASM.

 

3. This Agreement shall
continue in force during its Term.

ARTICLE VI

 

Miscellaneous

 

1. Notice, Any notices required or
permitted under this Agreement shall be in writing, shall specifically refer to this Agreement, and shall be sent by hand, recognized
national overnight courier, confirmed facsimile transmission, confirmed electronic mail, or registered or certified mail, postage
prepaid, return receipt requested, to the following addresses of the parties:

 

	 	If to Mears:	RJ Mears, LLC
	 	 	1100 Winter Street
	 	 	Suite 4700
	 	 	Waltham, MA 02451
	 	 	 
	 	If to ASM:	ASM America, Inc.
	 	 	3440 East University Drive
	 	 	Phoenix, AZ 85034

 

All notices under this Agreement shall be
deemed effective upon receipt. A party may change its contact information immediately upon written notice to the other party in
the manner provided in this section.

 

2. All royalty reports and payments
shall be sent to ASM America at the address appearing above.

 

3. This Agreement may be executed in
counterparts, each of which will be an original but all of which shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the Parties have caused
this Agreement to be signed as an instrument under seal by their duly authorized officers as of the day and year shown below next
to the signatures of the authorized officer of each respective party.

 

	RJ MEARS, LLC	 	ASM AMERICA, INC.
	 	 	 
	By:	/s/ Robert J. Mears	 	By:	/s/ Charles Dean Del Prado
	 	 	 	 	 
	Its:	President	 	Its:	President

 

 

    	 	3	 

     

    

 

	ASM INTERNATIONAL, N.V.	 
	 	 
	By:	/s/ Charles Dean Del Prado	 
	 	 	 
	Its:	Member of the Management Board	 

 

 

 

    	 	4

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