Document:

Exhibit 10.25

 Exhibit 10.25 
  
 CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and,
where applicable, have been marked with an asterisk (“[****]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission. 
  
 FIBER OPTIC PATENT LICENSE 
  
 This Agreement, effective as of the last date signed below (hereinafter,
“Effective Date”) Is made by and between UNITED TECHNOLOGIES CORPORATION, a Delaware corporation, having an office and a place of business at United Technologies Research Center, 411 Silver Lane, East Hartford, Connecticut, USA 06108
(hereinafter, “UTC”) and LUNA INNOVATIONS INCORPORATED, a Delaware corporation, having a place of business at 2851 Commerce Street, Blacksburg, VA 24080 (hereinafter, “LICENSEE”). 
  
 Whereas, UTC owns certain patents relating to measurement systems and
fiber optic devices; and 
  
 Whereas LICENSEE is desirous
of obtaining a license to practice such patents of UTC. 
  
 NOW, THEREFORE, in consideration for mutual promises and covenants contained herein, the Parties hereby agree as follows: 
  
 1. DEFINITIONS 
  
 1.1 “LICENSEE” means the above-mentioned corporation and all its divisions and subsidiaries in which LICENSEE has an ownership or
controlling interest of not less than fifty percent (50%). 
  
 1.2
“Parties” means UTC and LICENSEE jointly, “Party” means either UTC or LICENSEE individually. 
  
 1.3 “Term of this Agreement” means the time from the Effective Date of this Agreement until either the termination or expiration of this
Agreement, whichever occurs first, pursuant to Article 4 herein. 
  
 1.4 “UTC Licensed Patents” means the UTC patents listed in Appendix A of this Agreement including any continuations, divisional, foreign counterparts, reissues, or reexaminations thereof. 
  
 1.5 “Licensed Patents” means UTC Licensed Patents.

  
 1.6 “Licensed Product” means any product
which is covered by one or more claims of a Licensed Patent that has not expired or been abandoned or been finally declared Invalid or unenforceable by a tribunal from which no further appeal can be taken. 
  
 1.7 “Licensed Use” means any permitted use of a Licensed
Product or practice of a method which is covered by one or more claims of a Licensed Patent that has not expired or been abandoned or been finally declared invalid or unenforceable by a tribunal from which no further appeal can be taken. 

 1.8 “Net Invoice Price” means the invoice price after deduction of regular volume and
trade discounts, but before deduction of any other terms, including but not limited to shipping costs, duties, tariffs, sales and similar taxes. In no event shall the Net Invoice Price be less than the invoice price LICENSEE uses when Selling to a
bona fide third party in an arms-length transaction, whether or not the Sale is to a third party or an entity enjoying a specially favored course of dealing with LICENSEE. 
  
 1.9 “Sale” or “Sales” means every disposition of Licensed Product or provision of a
service using a Licensed Product or Licensed Use, including selling, renting, leasing, lending and bartering of an item or service. A Sale is considered to occur when the Licensed Product is delivered or Licensed Use service is provided or when an
invoice is issued, whichever occurs first. A Sale exists irrespective of the collection of any debt. “Sold” or “Sell” have a corresponding meaning. 
  
 1.10 “UTC” as used herein means United Technologies Corporation as defined above and all its non-minority
owned or controlled divisions, subsidiaries, and affiliates, and their successors in interest, including all other entities in which United Technologies Corporation, or its divisions or subsidiaries, have a non-minority ownership or controlling
interest. 
  
 2. LICENSE AND SUB-LICENSE GRANT 

 
 2.1 UTC hereby grants to LICENSEE, a non-exclusive, non-transferable,
worldwide, royalty-bearing license under UTC Licensed Patents to make, have made, use, offer for sale, and sell Licensed Products, without the right to sublicense others. This license, without the right to sublicense, extends to all fields of use
except the field of underground oil, gas, and geothermal (steam) exploration, characterization, and extraction and associated oil and gas extraction and delivery equipment, including but not limited to, oil and gas off-shore pipelines and
platform structures. 
  
 3. LICENSE FEE, ROYALTIES,
REPORTING 
  
 3.1 LICENSEE shall pay to UTC a non-refundable
license fee of [****], due as follows: 
  
 [****] on
the Effective Date of this Agreement; 
  
 [****] on or
before December 1, 2004. 
  
 3.2 No royalties paid in
Section 3.3 below shall count toward the payment of the license fee listed in Section 3.1 and neither expiration nor termination of this Agreement, for any reason, shall alter LICENSEE’S obligation to pay UTC the full license fee
recited in Section 3.1. 
  
 3.3 In addition to the license
fee paid in Section 3.1, LICENSEE shall pay to UTC, during the Term of this Agreement and subsequent thereto as set forth in Section 3.7, a royalty 
  

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 of [****] of Sales by LICENSEE. If a royalty is also payable for Licensed Product under the UTC/CRC Bragg Grating
Patent License previously entered into by the Parties, LICENSEE shall pay under this Agreement [****] of the Net Invoice Price for each of such Licensed Product Sold by LICENSEE. 
  
 Such payment to UTC shall be due at the end of each calendar quarter (hereinafter, “Due Date”, i.e., on
March 31, June 30, Sept. 30, and Dec. 31 of each year, for Sales during the preceding quarter, and shall be paid within [****] calendar days of each Due Date. 
  
 3.4 At the end of every calendar quarter during the Term of this Agreement and subsequent thereto as set forth in
Section 3.7, LICENSEE shall provide a quarterly report to UTC indicating the total royalty due for the preceding quarter and itemizing each Sale by LICENSEE during the preceding quarter (or Sold earlier if not previously reported) and the Net
Invoice Price. Such quarterly report shall be provided within sixty (60) calendar days of the Due Date and shall be provided even if no Sales occur In that quarter, LICENSEE’S failure to provide UTC such quarterly report within sixty
(60) days of the Due Date shall be treated as a material breach of this Agreement. 
  
 3.5 During the Term of this Agreement and for six years thereafter, LICENSEE shall maintain appropriate business records regarding all Sales including the Net invoice Price. Additionally, LICENSEE will allow UTC, at
UTC’s discretion during normal LICENSEE business hours, to conduct or have conducted an audit of LICENSEE’S business records and operation regarding such Sales and will allow copies to be made and extracts taken from such records. The
Parties shall immediately settle any underpayment or overpayment of royalty based on the results of such audit. In the event that such audit reveals an underpayment of more than [****] of the royalty owed in any single quarter, LICENSEE shall
reimburse UTC for the cost of such audit. 
  
 3.6 Any unpaid
balance for any fees and royalties due hereunder from LICENSEE to UTC, after the time required for payment by this Article 3, shall be subject to Interest of [****] per month (30 days) or portion thereof, or the highest rate allowed by law,
whichever is less, from the Due Date until the amount due is fully paid. 
  
 3.7 Within sixty (60) calendar days of the termination or expiration of this Agreement, LICENSEE shall make a final payment to UTC of any outstanding payments owed to UTC during the Term of this Agreement and
shall provide a final report pursuant to Section 3.4 associated with such final payment. 
  
 3.8 All payments due hereunder shall be made in US Dollars. Foreign currency/US dollar exchange rate used to calculate royalties due hereunder shall be an average foreign currency/US dollar exchange rate calculated
from the sum of the foreign currency/US dollar exchange rates published in the New York Wall Street Journal, on the last business day of each of the three months in the calendar quarter for which a payment is due, divided by three (3).

  
 4. TERM, TERMINATION, AND EXPIRATION 
  
 4.1 This Agreement shall become effective on the Effective Date and shall
expire when the last of the Licensed Patents expires or is abandoned. 
  

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 4.2 This Agreement may be terminated prior to expiration under Section 4.1 by: 
  
 4.2.1 mutual written agreement of the parties; or 
  
 4.2.2 by UTC in the event of a failure of LICENSEE to make any payment due
or report within the time required by this Agreement; or 
  
 4.2.3 by UTC in the event of a material breach by LICENSEE of any other term or condition of this Agreement; or 
  
 4.2.4 by UTC in the event of a (i) declaration by a court of competent jurisdiction of the bankruptcy or insolvency of LICENSEE, (ii) filing by
LICENSEE of a voluntary petition to any bankruptcy, insolvency, or other laws of any jurisdiction relating to or affecting enforcement of creditor’s rights, (iii) filing by LICENSEE of any answer to any insolvency petition pursuant to any
reorganization or insolvency law of any jurisdiction that admits the material allegations thereof; (iv) consent by LICENSEE to the filing of such involuntary petition, (v) making by LICENSEE of an assignment of a substantial part of its
property for the benefit of creditors, (vi) application by LICENSEE for, or consent by LICENSEE to the appointment of a receiver or trustee for a substantial part of its property. 
  
 4.3 If UTC intends to terminate this Agreement pursuant to a condition set forth in Sections 4.2.2 or 4.2.3 of this
Agreement, UTC shall notify LICENSEE of such intention by sending written notice to LICENSEE via the applicable Contact Points identified in Article 8 of this Agreement. If such condition is not cured within 30 days from the mailing of such notice,
then UTC may, by written notice to LICENSEE, terminate this Agreement immediately. 
  
 4.4 If UTC intends to terminate this Agreement pursuant to any of the conditions set forth in Section 4.2.4 of this Agreement, UTC may immediately terminate this Agreement by sending written notice thereof to
LICENSEE via the applicable Contact Points identified in Article 8 of this Agreement. 
  
 4.5 Upon expiration of this Agreement as set forth in Section 4.1 or termination of this Agreement under any of the conditions set forth in Section 4.2 of this Agreement, all the licenses, sub-licenses and
rights granted to LICENSEE under this Agreement, including but not limited to the licenses and sub-licenses granted in Sections 2.1 and 2.2 shall be automatically revoked. 
  
 4.6 The following Sections of this Agreement shall survive termination and expiration of this Agreement: 3.1, 3.5-3.7,
5.2-5.4 and 5.6, 
  
 5. WARRANTY, LIABILITY, INDEMNITY

  
 5.1 UTC warrants to LICENSEE that it has the authority to
grant the licenses to LICENSEE herein. 
  
 5.2 LICENSEE, its
successors and assigns, shall defend, indemnify and hold UTC harmless from any claim, demand, lawsuit, loss, cost, expense, obligation, liability, action, 
  

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 proceeding, agreement, contract, judgment, or debt (including court costs and reasonable fees of attorneys and other
professionals) of any nature whatsoever, whether or not well founded in fact or in law, whether in law or equity or otherwise, in connection with or related to use of Licensed Patents by LICENSEE, its customers, sub-contractors, agents, or employees
(collectively, LICENSEE’S Representatives) or in connection with or related to LICENSEE’S or LICENSEE’S Representatives’ manufacture, use, sale or service. 
  
 5.3 LICENSEE, its successors and assigns, shall have no recourse against UTC, whether by way of any suit, demand,
proceeding, claim, or action, whether in law or equity or otherwise, for any loss, liability, damage, expense, debt, judgment, or cost that LICENSEE may suffer or incur at any time, in connection with or related to use by LICENSEE or LICENSEE’S
Representatives of Licensed Patents or LICENSEE’S or LICENSEE’S Representatives’ manufacture, use, sale or service related to the Licensed Patents. 
  
 5.4 THE PARTIES FURTHER AGREE THAT UTC DOES NOT MAKE ANY NOR DOES LICENSEE RECEIVE ANY REPRESENTATION OR WARRANTY OF ANY
KIND WITH RESPECT TO THE ACCURACY, USEFULNESS, NOVELTY, VALIDITY, SCOPE, OR ENFORCEABILITY OF THE LICENSED PATENTS, LICENSED PRODUCTS, OR LICENSED USES, AND THAT UTC EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE WITH RESPECT TO THE LICENSED PATENTS, LICENSED PRODUCTS, OR LICENSED USES. 
  
 5.5 Nothing in this Agreement, or otherwise, shall be construed as: 
  
 5.5.1 granting LICENSEE any right or license under any UTC patent other than those specifically identified as Licensed Patents as set forth herein; or

  
 5.5.2 a warranty or representation by either Party that any
manufacture, sale, lease, or use of any tangible or intangible property covered under this Agreement will be free from infringement of any patents, except for Licensed Patents and only to the extent set forth herein; or 
  
 5.5.3 requiring either Party to defend, enforce, or otherwise assert any
intellectual property right or other cause of action against a third party; or 
  
 5.5.4 requiring either Party to file or prosecute any patent application, to secure any patent, or maintain any patent in force; or 
  
 5.5.5 conferring to anyone by implication, estoppel, or otherwise any license or other right under any patent, except as
expressly provided herein; or 
  
 5.5.6 conferring to anyone any
right to use in any way, any of UTC’s trademarks or trade names or any contraction, abbreviation, or simulation thereof. 
  
 5.6 In no event shall one Party be liable to the other Party for any incidental or consequential damages relating to or arising out of this Agreement.

  

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 5.7 In the event that the Dispute Resolution proceedings in Section 9 of this Agreement or a
proceeding in a court of competent jurisdiction results in a finding/decision that one Party breached this Agreement, the breaching Party, its successors and assigns, shall indemnify the non-breaching Party for any expense(s) the non-breaching party
incurs (including court approved costs and reasonable fees of attorneys and other professionals) in connection with or related to such a Dispute, as defined in Section 9.1 of this Agreement. 
  
 6. DEFENSE OF PATENTS 
  
 6.1 UTC shall have the sole discretion to decide whether to assert or defend
the Licensed Patents. Any assertion or defense of the Licensed Patents shall be at UTC’s sole expense and under UTC’s sole control. If UTC asserts or defends any Licensed Patents for any reason, UTC shall be entitled to retain all damages,
attorney fees, and other costs awarded in its favor as a result of such assertion or defense. 
  
 7. CHOICE OF LAW 
  
 7.1
This Agreement shall be governed by the laws of the State of Connecticut, USA, without regard to the conflicts of law principles of such State. 
  
 8. CONTACT POINTS FOR NOTICES AND PAYMENTS 
  
 8.1 Any notice, request, demand, waiver, consent, approval, or other communication not listed in Section 8.2 herein which is required or permitted to
be given by a Party hereunder shall be given in writing and addressed to the appropriate Party at its address set forth below, or transmitted by Facsimile: 
  
 If to LICENSEE, to; 
  
 Michael Gunther 
 Luna Innovations
Incorporated 
 2851 Commerce Street 
 Blacksburg, VA 24060 
 Fax: [****] 
  

If to UTC, to: 
  
 Intellectual Property Counsel 
 United
Technologies Research Center 
 411 Silver Lane 
 East Hartford, CT 06108 
 FAX: [****] 
  

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 with copy to: 
  

Timothy J. Halter 
 Niro, Scavone,
Haller & Niro 
 181 West Madison Street 
 Suite 4600 
 Chicago, IL 60602 
 FAX: [****] 
  
 8.2 All payments to UTC, if made by wire transfer, shall be to: 
  

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

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

[****] 
  
 unless otherwise directed by UTC. All payments, if by check, and quarterly reports (per Article 3) owed to UTC under this Agreement shall, unless otherwise directed by
UTC, be sent to: 
  
 Niro, Scavone, Mailer & Niro

 181 West Madison Street 
 Suite 4600 
 Chicago, IL 60602 
 ATTN: Timothy J. Haller 
  
 A copy
of such reports shall be sent to: 
  
 United Technologies
Research Center 
 Financial Dept. 
 Manager, Financial Operations 
 MS 129-03 
 411 Silver Lane 
 East Hartford, CT 06108 
  
 and 
  
 Intellectual Property Counsel 
 United
Technologies Research Center 
 411 Silver Lane 
 East Hartford, CT 06108 
  
 9.
DISPUTE RESOLUTION (negotiation, mediation, arbitration) 
  
 9.1 The Parties shall attempt in good faith to resolve any dispute of whatever nature arising out of the making or performance of, or otherwise relating to this Agreement or the breach, termination, enforceability, arbitrability or validity
thereof (hereinafter, “Dispute”), promptly 

  

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by negotiations between the Parties in the normal course of business. If such good faith attempts do not resolve the Dispute, either Party may give the other
party written notice of any such Dispute and request formal negotiations between the Parties. Such written notice shall be sent to the other Party via the applicable Contact Points identified in Article 8 of this Agreement and shall include the
specific provision(s) of this Agreement involved in such Dispute, any facts or arguments in support of the matter, and a specific description of the relief or remedy sought. Within thirty (30) days from the date of mailing of such written
notice, representatives of both Parties, having the authority to settle the Dispute, shall agree to meet at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary, to attempt to resolve the Dispute. If the
Dispute has not been resolved within sixty (60) days from the date of mailing of such written notice or a mutually agreed upon extension thereof, or if the Parties fail to meet within such thirty (30) days or a mutually agreed upon
extension thereof, the Parties shall initiate mediation of the Dispute pursuant to Section 9.2 herein. All negotiations pursuant to this Section 9.1 are deemed confidential and shall be treated as compromise and settlement negotiations for
the purposes of Rule 408 of the Federal Rules of Evidence and any comparable law provision. Either Party may seek a preliminary injunction, attachment or other similar remedy available to it pending the outcome of negotiation, mediation, or
arbitration hereunder, or a suit to compel compliance with this Article 9 dispute resolution process, in a U.S. court of competent jurisdiction. 
  
 9.2 Each Party shall provide the other Party with a written offer of terms of settlement that are acceptable as a minimum, if the Parties are still unable
to resolve such Dispute by negotiation within the time limits set by Section 9.1 the Parties shall, within thirty (30) days thereafter, select a mediator and begin a good faith attempt to settle the Dispute by mediation, to be conducted at
their joint cost. Unless the parties agree otherwise, the mediation shall be conducted in accordance with the Commercial Mediation Rules of the American Arbitration Association (AAA) then in effect by a mediator selected by mutual agreement of the
Parties. If the Parties are unable to agree on a mediator within such thirty (30) days, or a mutually agreed extension thereof, the mediator will be selected by the AAA. Within thirty (30) days after the mediator has been selected, both
Parties and their respective attorneys shall meet with the mediator for one mediation session of at least four hours, it being agreed that each Party representative attending such mediation session shall be senior to the representatives designated
in Section 9.1 herein, with the authority to settle the Dispute. If the Dispute cannot be settled at such mediation session or at any mutually agreed continuation thereof, either Party may give the other Party and the mediator a written notice
declaring the mediation process at an end, in which event the Dispute shall be resolved by arbitration as provided in Section 9.3 herein. 
  
 9.3 Upon completion of mediation pursuant to Section 9.2 herein, if no resolution of the Dispute has been reached, the Parties shall, within thirty
(30) days thereafter, select an arbitrator and begin arbitration proceedings to be conducted in Hartford, Connecticut. Unless the parties agree otherwise, the arbitration shall be conducted in accordance with the applicable Arbitration Rules of
the American Arbitration Association (AAA) then in effect, by a single arbitrator selected by mutual agreement of the Parties. If the Parties are unable to agree on an arbitrator within such thirty (30) days, or a mutually agreed extension
thereof, the arbitrator will be selected by the AAA. The arbitrator shall be an attorney-at-law having at least ten (10) years experience in handling patent license disputes similar to the Dispute hereunder, shall complete arbitration
proceedings within ninety (90) days after appointment, shall provide a written opinion of 

  

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any decision, and shall base such decision on the terms of this Agreement and on applicable law and judicial precedent. The arbitrator may award all costs
and reasonable attorney’s fees to the prevailing party plus applicable interest on any monetary damages. The findings of the arbitrator shall be final, binding, and enforceable as between the Parties and judgment on any award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. 
  
 10. GENERAL PROVISIONS 
  
 10.1 This Agreement
represents the entire understanding between the Parties about the subject matter contained herein and supersedes all prior oral and/or written agreements, communications, and documents between the Parties with respect thereto. 
  
 10.2 No amendment or modification of this Agreement shall be valid or binding
upon the Parties unless made in a writing specifically identifying this Agreement and executed by authorized representatives of both Parties. 
  
 10.3 LICENSEE shall have no right to assign, sell, or otherwise transfer any right or benefit hereunder. 
  
 10.4 Any failure of either Party to exercise a right granted by the terms or
conditions of this Agreement shall not be construed as a waiver of such right or of any other rights under this Agreement by that Party and shall in no way affect that Party’s exercise of such right or any other rights under this Agreement at a
later date. No term or provision hereof shall be deemed waived and no breach consented to unless such waiver or consent shall be in writing and signed by the party claimed to have waived or consented. 
  
 10.5 The provisions of this agreement shall be deemed separable. If any
provision of this Agreement shall be adjudged wholly or partially invalid, illegal, unenforceable or void by an arbitrator appointed under Article 9 or a court or tribunal of competent jurisdiction, such provision shall be deemed modified to the
extent necessary to make it valid, legal, enforceable, or not void, if such modification does not materially alter the intention of the Parties nor substantially impair the value of this Agreement as to any Party. If such provision cannot be so
modified, such provision shall be stricken from this Agreement and the validity, legality, and enforceability of the remaining provisions or parts thereof shall not in any way be affected or impaired. 
  
 10.6 The exercise by a party of its right to terminate this Agreement under
Article 4 hereunder shall not constitute a waiver of any other rights, remedies, or damages available to such party under applicable law. 
  
 10.7 The Parties shall use their best efforts to maintain the terms of this Agreement confidential with access thereto being limited to those with a
“need to know”. 
  
 11. OFFSET CREDITS

  
 11.1 LICENSEE agrees to notify UTC in advance of LICENSEE
becoming involved in any prospective business venture in a foreign country which will make Licensed Products or in any way utilize Licensed Patents, including but not limited to starting a new business 

  

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or expanding an existing business, and agrees to give UTC the right of first refusal to obtain, at no cost, offset credits in such foreign country as a
result of such venture. UTC will reimburse LICENSEE for out-of-pocket expenses of LICENSEE associated with the transfer of such offset credits to UTC. 
  
 BY SIGNING BELOW, the Parties have executed this Agreement by their duly authorized representatives, effective as of the last date signed below.

  

			
	UNITED TECHNOLOGIES CORPORATION
	 United Technologies Research Center

	
	 By: /s/  

	
	 Typed Name:

	
	 Title:

	
	 Date:

	
	LUNA INNOVATIONS
		
	 By:
	 	 /s/  Michael F. Gunther

	
	 Typed Name: Michael F. Gunther

	
	 Title: VP Operations

	
	 Date: September 22, 2003

  

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 CONFIDENTIAL TREATMENT REQUESTED: Certain portion s of this document have been omitted pursuant to a request for
confidential treatment and, where applicable, have been marked with an asterisk (“[****]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

  
 FIBER OPTIC PATENT LICENSE 
  
 APPENDIX A 
  
 NON-EXCLUSIVELY LICENSED PATENTS 
  
 US PATENTS AND FOREIGN COUNTERPARTS 
  

							
	 US Patent No
 (Doc)

	  	 Title

	  	Issued

	  	 Foreign

	 4,761,073
 (R-2909A)
	  	Distributed Spatially Resolving Optical Fiber Strain Gauge	  	08/02/88	  	 EPC PA No. 0192659; France, Germany, UK, Italy Japan PA No. 1885629
 Priority Filing Date: 08/13/84

	 4,806,012
 (R-2909B)
	  	Distributed Spatially Resolving Optical Fiber Strain Gauge	  	01/21/89	  	 EPC PA No. 0192659; France, Germany, UK, Italy Japan PA No. 1885629
 Priority Filing Date: 08/13/84Exhibit 10.26

 Exhibit 10.26 
  
 CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and,
where applicable, have been marked with an asterisk (“[****]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission. 
  
 AMENDED AND RESTATED 
 LICENSE AGREEMENT 
  
 This agreement (“Agreement”) is made by and between Luna Innovations, Inc., a Virginia corporation having an address at 2851 Commerce Street,
Blacksburg, Virginia 24062 (“LICENSEE”) and Virginia Tech Intellectual Properties, Inc., a non-profit organization having an address at 1872 Pratt Drive, Suite 1625, Blacksburg, Virginia 24060 (“VTIP”). 
  
 This Agreement is effective as of March 19, 2004 (“Effective
Date”). 
  
 RECITALS 
  
 WHEREAS, VTIP is the owner by assignment of certain intellectual property
listed in Appendix A, relating to (i) the discovery of a new class of endohedral metallofullerenes utilizing a trimetallic nitride template process, (ii) endohedral metallofullerenes as multi-functional medicinal agents,
(iii) synthesis of the first water-soluble trimetallic nitride endohedral metallofullerols, and (iv) symmetric derivatives; 
  
 WHEREAS, the research was sponsored in part by the Government of the United States of America and as a consequence this license is subject to overriding
obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations; 
  
 WHEREAS, the Inventors (as defined below) are employees of Virginia Polytechnic Institute and State University (“Virginia Tech”), and they are
obligated to assign all of their right, title and interest in the Invention (as defined below) to Virginia Tech; 
  
 WHEREAS, Virginia Tech has assigned all of their right, title and interest in the Invention to VTIP; 
  
 WHEREAS, LICENSEE entered into a Confidential Disclosure Agreement with
VTIP, effective September 7, 1999 (“CDA”), for the purpose of evaluating the Invention; 
  
 WHEREAS, VTIP is desirous that the Invention be developed and utilized to the fullest possible extent so that its benefits can be enjoyed by the general
public; 
  
 WHEREAS, LICENSEE is desirous of obtaining certain
rights from VTIP for commercial development, use, and sale of the Invention, and VTIP is willing to grant such rights; 
  
 WHEREAS, LICENSEE understands that VTIP may publish or otherwise disseminate information concerning the Invention and Technology (as defined below) at any
time and that LICENSEE is paying consideration thereunder for its early access to the Invention and Technology, not continued secrecy therein, subject to Section 5. l(b) and the confidentiality obligations of Section 10.2.; 
  

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 WHEREAS, the parties entered into a License Agreement effective June 26, 2002 (the “License
Agreement”); and 
  
 WHEREAS, the parties desire to amend
certain provisions thereof and to restate such License Agreement in its entirety. 
  
 NOW, THEREFORE, the parties agree: 
  
 ARTICLE 1. DEFINITIONS 
  
 The terms, as defined
herein, shall have the same meanings in both their singular and plural forms. 
  
 1.1 “Affiliate” means any corporation or other business entity (i) in which LICENSEE owns or controls, directly or indirectly, at least fifty-one percent (51%) of the outstanding stock or other
voting rights entitled to elect directors, or (ii) by which LICENSEE is owned or controlled directly or indirectly by at least fifty-one percent (51%) of the outstanding stock or other voting rights entitled to elect directors, or
(iii) under common control with LICENSEE through ownership of at least fifty-one percent (51%) of the outstanding stock or other voting rights entitled to elect directors. 
  
 1.2 “Field” means all fields of human endeavor. 
  
 1.3 “Inventions” shall mean the inventions described in the patents, patent applications and disclosures set forth
on Appendix A. 
  
 1.4 “Inventors” shall mean the
inventors of the Inventions. 
  
 1.5 “Licensed Method”
means any method, the use of which would constitute, but for the license granted to LICENSEE under this Agreement, an infringement of any Valid Claim. 
  
 1.6 “Licensed Product” means any composition or product, produced by the Licensed Method, or one the manufacture, use, sale, offer for sale, or
importation of which would constitute, but for the license granted to LICENSEE under this Agreement, an infringement of any Valid Claim. 
  
 1.7 “Net Sales” means the total of the gross invoice prices of Licensed Products sold by LICENSEE, its Sublicensees, and Affiliates, or any
combination thereof, less the sum of the following actual and customary deductions where applicable and separately listed: cash, trade, or quantity discounts; sales, use, tariff, import/export duties or other excise taxes imposed on particular sales
(except for value-added and income taxes imposed on the sales of Product in foreign countries); transportation charges; or credits to customers because of rejections or returns. 
  
 1.8 “Patent Costs” means all out-of-pocket expenses for the preparation, filing, prosecution, and maintenance of
all United States and foreign patents included in Patent Rights. Patent Costs shall also include reasonable out-of pocket expenses for patentability opinions, inventorship determination, the preparation and prosecution of patent application,
re-examination, re-issue, interference, and opposition activities related to patents or applications in Patent Rights. 
  

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 1.9 “Patent Rights” means any of the following: the U.S. patent applications listed in Appendix
A disclosing and claiming the Invention, filed by Inventors and assigned to VTIP; and continuing applications thereof including divisions, substitutions, and continuations-in-part; any patents issuing on said applications including re-issues,
re-examinations and extensions; and any corresponding foreign applications or patents. 
  
 1.10 “Sponsor Rights” means all the applicable provisions of any license to the United States Government executed by VTIP and the overriding obligations to the Federal Government under 35 U.S.C. §§
200-212 and applicable governmental implementing regulations. 
  
 1.11 “Sublicensee” means a third party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement. 
  
 1.12 “Technology” means the written technical information relating to the Invention which the Inventors provide to LICENSEE prior to the
Effective Date. 
  
 1.13 “Term” means the period of time
beginning on the Effective Date and ending on the expiration date of the longest-lived Patent Rights. 
  
 1.14 “Territory” means worldwide. 
  
 1.15 “Valid Claim” shall mean a claim of an issued and unexpired patent or a claim of a pending patent application within the Patent Rights
which has not been held unpatentable, invalid or unenforceable by a court or other governmental agency of competent jurisdiction and has not been admitted to be invalid or unenforceable through re-issue, re-examination, disclaimer or otherwise;
provided, however, that if the holding of such court or agency is later reversed by a court or agency with overriding authority, the claim shall be reinstated as a Valid Claim with respect to Net Sales made after the date of such reversal.
Notwithstanding the foregoing provisions of this Paragraph 1.15, if a claim of a pending patent application within the Patent Rights has not issued as a claim of an issued patent within the Patent Rights, within four (4) years after the filing
date from which such claim takes priority, such pending claim shall not be a Valid Claim for purposes of this Agreement. 
  
 ARTICLE 2. GRANTS 
  
 2.1 License. Subject to the limitations set forth in this Agreement and Sponsor’s Rights, VTIP hereby grants to LICENSEE, and LICENSEE hereby
accepts, a license under Patent Rights to make, have made, use, sell, offer for sale, and import Licensed Products and to practice Licensed Methods and to use Technology, in the Field within the Territory and during the Term (the “Grant”).
Improvements to Technology that are funded by LICENSEE and which would in the absence of this Agreement infringe Patent Rights are included in the Grant. The license granted herein is exclusive and VTIP shall not grant to third parties a further
license under Patent Rights or to use Technology in the Field, within the Territory and during the Term. 
  

 - 3 of 17 - 

 2.2 Sublicense. 
  

(a) The license granted in Paragraph 2.1 includes the right of LICENSEE to grant sublicenses to third parties during the Term. 
  
 (b) With respect to sublicense granted pursuant to Paragraph 2.2(a), LICENSEE
shall: 
  
 (1) not receive, or agree to receive, anything of
value in lieu of cash as consideration from a third party under a sublicense granted pursuant to Paragraph 2.2(a) (except for research and development funds, milestone payments, scientific benchmark payments and equity investments) without the
express written consent of VTIP; 
  
 (2) to the extent
applicable, include all of the rights of and obligations due to VTIP (and, if applicable, the Sponsor’s Rights) and contained in this Agreement; 
  
 (3) promptly provide VTIP with a copy of each sublicense issued; and 
  
 (4) collect all payments due from Sublicensees and summarize and deliver to VTIP all reports due from Sublicensees.

  
 (c) Upon termination of this Agreement for any reason, VTIP,
at its sole discretion, shall determine whether LICENSEE shall assign to VTIP any and all sublicenses. 
  
 2.3 Reservation of Rights. 
  
 (a) VTIP and Virginia Tech reserve the right to use the Invention, Technology and Patent Rights for educational and research purposes, subject to
Section 5.1(b) and the confidentiality obligations of Section 10.2. 
  
 (b) VTIP and Virginia Tech reserve the right to publish or otherwise disseminate any information about the Invention and Technology at any time; and subject to Section 5.1(b) and the confidentiality obligations
of Section 10.2. 
  
 ARTICLE 3. CONSIDERATION

  
 3.1 Fees and Royalties. As consideration for the license
granted herein to LICENSEE under the Technology and Patent Rights, LICENSEE shall pay to VTIP the fees and royalties set forth in this Article 3. LICENSEE shall pay VTIP: 
  
 (a) a license issue fee of [****] upon execution of this Agreement. 
  
 (b) a license issue fee of [****], payable in [****] equal
installments within 30 days after the LICENSEE has raised in excess of [****] in venture funding, and ending on the fourth anniversary thereof. 
  

 - 4 of 17 - 

 (c) milestone payments in the amounts payable according to the following schedule or events: 

 

			
	For each product	  	 
		
	(1) Phase I Complete	  	[****]
		
	(2) Phase II Complete	  	[****]
		
	(3) Phase III complete/NDA	  	[****]

  
 (d) an earned royalty
of up to [****] of Net Sales on sales of Licensed Products by LICENSEE and/or its Affiliates. 
  
 (e) the applicable percentage (set forth below) of all sublicense fees from Sublicenses enacted during the Period as set forth below that are not earned
royalties irrespective of date of receipt of payment: 
  

			
	 Percentage

	  	 Period

	[****]	  	6/26/04-6/25/05
	[****]	  	6/26/05-6/25/06
	[****]	  	6/26/06-6/25/07
	[****]	  	6/26/07-6/25/08
	[****]	  	6/26/08 and thereafter

  
 (f) on sublicense
royalty payments received by LICENSEE from its Sublicensees on sales of Licensed Product by Sublicensees, [****] of the Net Sales of Sublicensees. 
  
 (g) For the avoidance of doubt, sales by Affiliates of LICENSEE shall be included under the royalty calculation under paragraph (d) above, and shall
not be included in the royalty calculations under paragraphs (e) and (f) even if such Affiliates are Sublicensees of LICENSEE. 
  
 (h) Should LICENSEE be obligated to pay royalties to third parties for certain patent rights in order to manufacture, use or sell the Licensed Products or
to practice the Licensed Methods, the parties agree to renegotiate, in good faith, the provisions of this Section 3.1 so that LICENSEE pays a reasonable aggregate royalty to VTIP and such third parties. 
  
 3.2 Patent Costs. LICENSEE shall reimburse VTIP all past (prior to the
Effective Date) and future (on or after the Effective Date) Patent Costs within thirty (30) days following receipt by LICENSEE of an itemized invoice from VTIP. 
  

 - 5 of 17 - 

 3.3 Due Diligence. 
  
 (a) LICENSEE shall: 
  
 (1) diligently proceed with the development, manufacture and sale of Licensed Products; 
  
 (2) prepare and supply a business plan to VTIP within six (6) months of the Effective Date; 
  
 (3) raise in excess of [****] within five (5) years of the
Effective Date; 
  
 (4) annually spend not less than
[****] for the development of Licensed Products during the first [****] of this Agreement. LICENSEE may, at its sole option, fund the research of any one of the Inventors and credit the amount of such funding actually paid to VTIP against its
obligations under this paragraph; 
  
 (5) use commercially
reasonable efforts to market Licensed Products in the United States within [****] of receiving regulatory approval to market such Licensed Products; 
  
 (6) reasonably fill the market demand for Licensed Products following commencement of marketing at any time during the term of this Agreement;

  
 (7) use commercially reasonable efforts to obtain all
necessary governmental approvals for the manufacture, use and sale of Licensed Products; and 
  
 (8) LICENSEE agrees that wide distribution under a Material Transfer Agreement (as defined below) of research quantities of Licensed Product for non-commercial research and development will add to the potential
commercial value of this license. To this end LICENSEE agrees to distribute research samples under terms and conditions satisfactory to VTIP and to LICENSEE. If such terms and conditions are not agreed upon and in place within 60 days of effective
date then this license is terminated. The Material Transfer Agreement will contain terms and conditions satisfactory to VTIP and to LICENSEE. 
  
 (b) If LICENSEE fails to perform any of its obligations specified in Paragraphs 3.3(a) (l)-(7), then VTIP shall provide written notice to LICENSEE
specifying in reasonable detail the alleged failure, citing a specific paragraph above in such notice. LICENSEE shall have ninety (90) days from the date of receipt of such notice to cure such breach. If, within such ninety-day period LICENSEE
has not cured such breach (if such breach is reasonably capable of cure within such period) or diligently commenced efforts to cure such breach (if such breach is not reasonably capable of cure during such period), then VTIP shall have the right and
option to either terminate this Agreement or change LICENSEE’S exclusive license to a nonexclusive license by providing written notice thereof to LICENSEE. This right, if exercised by VTIP shall supersede the rights granted in Article 2.

  

 - 6 of 17 - 

 ARTICLE 4. REPORTS, RECORDS AND PAYMENTS 
  
 4.1 Reports. 
  
 (a) Progress Reports. 
  
 (1) Beginning January 1, 2005 and ending on the date of first commercial sale of a Licensed Product in the United States, LICENSEE shall submit to
VTIP annual progress reports covering LICENSEE’S (and Affiliate’s and Sublicensee’s) activities to develop and test all Licensed Products and obtain governmental approvals necessary for marketing the same. Such reports shall include a
summary of work completed; summary of work in progress; current schedule of anticipated events or milestones; and market plans for introduction of Licensed Products. 
  
 (b) Royalty Reports. After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to
VTIP annual royalty reports on or before the date that is sixty (60) days after the anniversary date thereof. Each royalty report shall cover LICENSEE’S (and each Affiliate’s and Sublicensee’s) most recently completed calendar
year and shall show: 
  
 (1) the gross sales, deductions as
provided in Paragraph 1.7, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; 
  
 (2) the number of each type of Licensed Product sold; 
  
 (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; 

 
 (4) the method used to calculate the royalties; and 
  
 (5) the exchange rates used. 
  
 If no sales of Licensed Products have been made and no sublicense revenues
have been received by LICENSEE during any reporting period, LICENSEE shall so report. 
  
 4.2 Records and Audits. 
  
 (a)
LICENSEE shall keep, and shall require its Affiliates and Sublicensees to keep accurate and correct records of all Licensed Products manufactured, used, and sold, and sublicense fees received under this Agreement. Such records shall be retained by
LICENSEE for at least three (3) years following a given reporting period. 
  
 (b) All records shall be available during normal business hours for inspection at the expense of VTIP by VTIP’s Internal Audit Department or by a Certified Public Accountant selected by VTIP and in compliance
with the other terms of this Agreement for the sole purpose of verifying reports and payments. Such inspector shall not disclose to VTIP any information other 
  

 - 7 of 17 - 

 than information relating to the accuracy of reports and payments made under this Agreement or other compliance issues.
In the event that any such inspection shows an under-reporting and underpayment in excess of [****] for any twelve (12) month period, then LICENSEE shall pay the cost of the audit as well as any additional sum that would have been
payable to VTIP had the LICENSEE reported correctly, plus an interest charge at a rate of [****] per year. Such interest shall be calculated from the date the correct payment was due to VTIP up to the date when such payment is actually made
by LICENSEE. For underpayment not in excess of [****] for any twelve (12) month period, LICENSEE shall pay the difference within thirty (30) days without interest charge or inspection cost. 
  
 4.3 Payments. 
  
 (a) All fees and royalties due VTIP shall be paid in United States dollars and all checks shall be made payable to Virginia
Tech Intellectual Properties, Inc. When Licensed Products are sold in currencies other than United States dollars, LICENSEE shall first determine the royalty in the currency of the country in which Licensed Products were sold and then convert the
amount into equivalent United States funds, using the average of the exchange rate quoted in The Wall Street Journal during the period that is thirty (30) days prior to the last business day of the applicable reporting period.

  
 (b) Royalty Payments. 
  
 (1) Royalties shall accrue when Licensed Products are invoiced, or if not
invoiced, when delivered to a third party or Affiliate. 
  
 (2)
LICENSEE shall pay earned royalties quarterly on or before February 28, May 31, August 31, and November 30 of each calendar year. Each such payment shall be for earned royalties accrued within LICENSEE’S most
recently completed calendar quarter. 
  
 (3) Royalties earned on
sales occurring or under sublicense granted pursuant to this Agreement in any country outside the United States shall not be reduced by LICENSEE for any taxes, fees, or other charges imposed by the government of such country on the payment of
royalty income, except that all payments made by LICENSEE in fulfillment of VTIP tax liability in any particular country may be credited against earned royalties or fees due VTIP for that country. LICENSEE shall pay all bank charges resulting from
the transfer of such royalty payments. 
  
 (4) If at any time
legal restrictions prevent the prompt remittance of part or all royalties by LICENSEE with respect to any country where a Licensed Product is sold or a sublicense is granted pursuant to this Agreement, LICENSEE shall convert the amount owed to VTIP
into US currency and shall pay VTIP directly from its US sources of fund for as long as the legal restrictions apply. 
  
 (5) LICENSEE shall not collect royalties from, or cause to be paid on, Licensed Products sold to the account of the U.S. Government or any agency thereof
as provided for in the license to the U.S. Government. 
  

 - 8 of 17 - 

 (c) Late Payments. In the event royalty, reimbursement and/or fee payments are not received by VTIP when
due, LICENSEE shall pay to VTIP interest charges at a rate of [****] per year. Such interest shall be calculated from the date payment was due until actually received by VHP. 
  
 ARTICLE 5. PATENT MATTERS 
  
 5.1 Patent Prosecution and Maintenance. 
  
 (a) Provided that LICENSEE has reimbursed VTIP for Patent Costs pursuant to Paragraph 3.2, VTIP shall diligently prosecute and maintain the United States
and, if available, foreign patents, and applications in Patent Rights using counsel of its choice. VTIP shall provide LICENSEE with copies of all relevant documentation relating to such prosecution and LICENSEE shall keep this documentation
confidential. The counsel shall take instructions only from VTIP, and all patents and patent applications in Patent Rights shall be assigned solely to VTIP. Notwithstanding the foregoing, VTIP shall consult with LICENSEE regarding the prosecution of
such patent applications and provide LICENSEE with a reasonable opportunity to review and comment on all proposed submissions to any patent office before submittal, and VTIP shall keep LICENSEE reasonably informed as to the status of such patent
applications. All such comments shall reasonably be conveyed by VTIP to patent counsel. 
  
 (b) VTIP shall cooperate with LICENSEE in seeking such patent protection for the Inventions, and shall not publish, disclose, publicly use or sell the Inventions until it has taken reasonable and appropriate steps,
after seeking comments from LICENSEE, to obtain patent protection for the Inventions in the appropriate jurisdictions. 
  
 (c) VTIP shall consider amending any patent application in Patent Rights to include claims reasonably requested by LICENSEE to protect the products
contemplated to be sold by LICENSEE under this Agreement. 
  
 (d)
LICENSEE shall apply for an extension of the term of any patent in Patent Rights if appropriate under the Drug Price Competition and Patent Term Restoration Act of 1984 and/or European, Japanese and other foreign counterparts of this law. LICENSEE
shall prepare all documents for such application, and VTIP shall execute such documents and to take any other additional action as LICENSEE reasonably requests in connection therewith. 
  
 (e) LICENSEE may elect to terminate its reimbursement obligations with respect to any patent application or patent in Patent
Rights upon three (3) months’ written notice to VTIP. VTIP shall use reasonable efforts to curtail further Patent Costs for such application or patent when such notice of termination is received from LICENSEE. VTIP, in its sole discretion
and at its sole expense, may continue prosecution and maintenance of said application or patent, and LICENSEE shall then have no further license with respect thereto. Non-payment of any portion of Patent Costs with respect to any application or
patent may be deemed by VTIP as an election by LICENSEE to terminate its reimbursement obligations with respect to such application or patent. 
  

 - 9 of 17 - 

 5.2 Patent Infringement. 
  
 (a) If LICENSEE learns of any substantial infringement of Patent Rights, LICENSEE shall so inform VTIP and provide VTIP with
reasonable evidence of the infringement. Neither party shall notify a third party of the infringement of Patent Rights without the consent of the other party. Both parties shall use reasonable efforts and cooperation to terminate infringement
without litigation. 
  
 (b) LICENSEE may request VTIP to take
legal action against such third party for the infringement of Patent Rights. Such request shall be made in writing and shall include reasonable evidence of such infringement and damages to LICENSEE. If the infringing activity has not abated thirty
(30) days following LICENSEE’S request, VTIP shall elect to or not to commence suit on its own account. VTIP shall give notice of its election in writing to LICENSEE by the end of the sixtieth (60th) day after receiving notice of such
request from LICENSEE. LICENSEE may thereafter bring suit for patent infringement at its own expense, if and only if VTIP elects not to commence suit and the infringement occurred in a jurisdiction where LICENSEE has an exclusive license under this
Agreement. If LICENSEE elects to bring suit, VTIP may join that suit at its own expense. 
  
 (c) Recoveries from actions brought pursuant to Paragraph 5.2(b) shall belong to the party bringing suit. Legal actions brought jointly by VTIP and LICENSEE and fully participated in by both shall be at the joint
expense of the parties and all recoveries shall be shared jointly by them in proportion to the share of expense paid by each party. 
  
 (d) Each party shall cooperate with the other in litigation proceedings at the expense of the party bringing suit. Litigation shall be controlled by the
party bringing the suit, except that VTIP may be represented by counsel of its choice in any suit brought by LICENSEE. 
  
 5.3 Patent Marking. LICENSEE shall mark all Licensed Products made, used or sold under the terms of this Agreement, or their containers, in accordance
with the applicable patent marking laws. 
  
 ARTICLE 6.
GOVERNMENTAL MATTERS 
  
 6.1 Governmental Approval or
Registration. If this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental agency, LICENSEE shall assume all legal obligations to do so. LICENSEE shall notify VTIP if
it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. LICENSEE shall make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs
associated with such reporting or approval process. 
  
 6.2 Export
Control Laws. LICENSEE shall observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms
Regulations and the Export Administration Regulations. 
  

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 6.3 Preference for United States Industry. If LICENSEE sells a Licensed Product or Combination Product in
the US, LICENSEE shall manufacture said product substantially in the US. Upon LICENSEE’S written notice to VTIP and LICENSEE’S expense, VTIP shall reasonably assist LICENSEE in seeking an exemption from the foregoing requirement under the
Bayh-Dole Act or other applicable law. 
  
 ARTICLE 7.
TERMINATION OF THE AGREEMENT 
  
 7.1 Termination by VTIP. If
LICENSEE fails to perform or violates any material term of Articles 2 and 3, then VTIP may give written notice of default (“Notice of Default”) to LICENSEE. If LICENSEE fails to cure the default within ninety (90) days of the Notice
of Default (except where a specific cure or cure period are prescribed for a breach or default in which event such cure or cure periods shall control), VTIP may terminate this Agreement and the license granted herein by a second written notice
(“Notice of Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement shall automatically terminate on the effective date of that notice. Termination shall not relieve LICENSEE of its obligation to pay any
fees owed at the time of termination and shall not impair any accrued right of VTIP or LICENSEE. 
  
 7.2 Termination by LICENSEE. 
  
 (a) LICENSEE shall have the right at any time and for any reason to terminate this Agreement upon a sixty (60) day written notice to VTIP. Said
notice shall state LICENSEE’S reason for terminating this Agreement. 
  
 (b) Any termination under Paragraph 7.2(a) shall not relieve LICENSEE or VTIP of any obligation or liability accrued under this Agreement prior to termination or to rescind any payment made to VTIP or action by
LICENSEE or VTIP prior to the time termination becomes effective. Termination shall not affect in any manner any rights of LICENSEE or VTIP arising under this Agreement prior to termination. 
  
 7.3 Survival on Termination. The following Paragraphs and Articles shall
survive the termination or expiration of this Agreement in accordance with their terms: 
  
 (a) Article 4 (REPORTS, RECORDS AND PAYMENTS); 
  
 (b) Paragraph 5.2 (Patent Infringement); 
  
 (c) Paragraph 7.4 (Disposition of Licensed Products on Hand); 
  
 (d) Paragraph 8. l(c) (Limitation of Liability); 
  
 (e) Paragraph 8.2 (Indemnification); 
  

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 (f) Article 9 (USE OF NAMES AND TRADEMARKS); and 
  
 (g) Article 10 (MISCELLANEOUS PROVISIONS). 
  
 7.4 Disposition of Licensed Products on Hand. Upon termination or expiration
of this Agreement, LICENSEE may dispose of all previously made or partially made Licensed Product within a period of one hundred and twenty (120) days of the effective date of such termination or expiration provided that the sale of such
Licensed Product by LICENSEE, its Sublicensees, or Affiliates shall be subject to the terms of this Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement. 
  
 ARTICLE 8. LIMITED WARRANTY AND INDEMNIFICATION 
  
 8.1 Limited Warranty. 
  
 (a) VTIP represents and warrants that (i) it has the lawful right to
grant this license, (ii) it has the power and authority to execute, deliver and perform under this Agreement, (iii) the execution, delivery and performance of this Agreement will not conflict with or cause a default under any other
agreement to which VTIP is a party or by which VTIP is bound, and (iv) VTIP has not received any notice of infringement with respect to the Inventions or the Technology from any third party. 
  
 (b) Except as set forth above, the license granted herein and the associated
Technology are provided “AS IS” and without WARRANTY OF MERCHANTABILITY or WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE or any other warranty, express or implied. Except as set forth above, VTIP makes no representation or warranty that the
Licensed Product, Licensed Method or the use of Patent Rights or Technology will not infringe any other patent or other proprietary rights. 
  
 (c) In no event shall VTIP be liable for any incidental, special or consequential damages resulting from exercise of the license granted herein or the use
of the Invention, Licensed Product, Licensed Method or Technology. 
  
 (d) Nothing in this Agreement shall be construed as: 
  
 (1) a warranty or representation by VTIP as to the validity or scope of any Patent Rights; 
  
 (2) a warranty or representation that anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or shall be free
from infringement of patents of third parties; 
  
 (3) an
obligation to bring or prosecute actions or suits against third parties for patent infringement except as provided in Paragraph 5.2 hereof, 
  

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 (4) conferring by implication, estoppel or otherwise any license or rights under any patents of VTIP
other than Patent Rights as defined in this Agreement, regardless of whether those patents are dominant or subordinate to Patent Rights; 
  
 (5) an obligation to furnish any know-how not provided in Patent Rights and Technology; or 
  
 (6) an obligation to update Technology. 
  
 8.2 Indemnification. 
  
 (a) LICENSEE shall indemnify, hold harmless and defend VTIP, its officers, employees, and agents; the sponsors of the research that led to the Invention;
and the Inventors of the patents and patent applications in Patent Rights and their employers against any and all claims, suits, losses, damage, costs, fees, and expenses resulting from or arising out of exercise of this license or any sublicense.
This indemnification shall include, but not be limited to, any product liability. 
  
 (b) LICENSEE, at its sole cost and expense, shall insure its activities in connection with the work under this Agreement and obtain, keep in force and maintain insurance or an equivalent program of self-insurance as
follows: 
  
 (1) comprehensive or commercial general liability
insurance (contractual liability included) with reasonable coverage limits appropriate for LICENSEE’S commercial activities; and 
  
 (2) the coverage and limits referred to above shall not in any way limit the liability of LICENSEE. 
  
 (c) LICENSEE shall furnish VTIP with certificates of insurance showing
compliance with all requirements. Such certificates shall: (i) provide for thirty (30) day advance written notice to VTIP of any modification; (ii) indicate that VTIP has been endorsed as an additional insured under the coverage
referred to above; and (iii) include a provision that the coverage shall be primary and shall not participate with nor shall be excess over any valid and collectable insurance or program of self-insurance carried or maintained by VTIP.

  
 (d) VTIP shall notify LICENSEE in writing of any claim or suit
brought against VTIP in respect of which VTIP intends to invoke the provisions of this Article. LICENSEE shall keep VTIP informed on a current basis of its defense of any claims under this Article. 
  
 ARTICLE 9. USE OF NAMES AND TRADEMARKS 
  
 9.1 Nothing contained in this Agreement confers any right to use in
advertising, publicity, or other promotional activities any name, trade name, trademark, or other designation of either party hereto (including contraction, abbreviation or simulation of any of the foregoing). Unless required by law, the use by
LICENSEE of the name Virginia Tech Intellectual Properties, Inc. is prohibited, without the express written consent of VTIP. 
  

 - 13 of 17 - 

 9.2 VTIP may disclose to the Inventors the terms and conditions of this Agreement upon their request. If
such disclosure is made, VTIP shall request the Inventors not to disclose such terms and conditions to others pursuant to a non-disclosure agreement reasonably acceptable to LICENSEE. 
  
 9.3 VTIP may acknowledge the existence of this Agreement and the extent of the Grant in Article 2 to third parties, but VTIP
shall not disclose the identity of LICENSEE or the financial terms of this Agreement to third parties, except where VTIP is required by law to do so. 
  
 ARTICLE 10. MISCELLANEOUS PROVISIONS 
  
 10.1 Correspondence. Any notice or payment required to be given to either party under this Agreement shall be deemed to have been properly given and
effective: 
  
 (a) on the date of delivery if delivered in
person, or 
  
 (b) five (5) days after mailing if mailed by
first-class or certified mail, postage paid, to the respective addresses given below, or to such other address as is designated by written notice given to the other party. 
  
 If sent to LICENSEE: 
  
 Luna Innovations, Inc. 
 2851 Commerce Street 
 Blacksburg, VA 24060 
 Attention: Chief Financial Officer 
  
 If sent to VTIP: 
  
 Virginia Tech Intellectual Properties, Inc. 
 1872 Pratt Drive, Suite 1625 
 Blacksburg, VA 24060 
 Attention: Business Manager 
  
 10.2 Secrecy. 
  
 (a) “Confidential Information” shall mean the confidential or proprietary information of a party, including
Technology, relating to the Invention and disclosed by either party to other party during the term of this Agreement, which if disclosed in writing shall be marked “Confidential”, or if first disclosed otherwise, shall within thirty
(30) days of such disclosure be reduced to writing by the disclosing party and sent to the recipient. 
  

 - 14 of 17 - 

 (b) The recipient shall: 
  
 (1) use the Confidential Information for the sole purpose of performing under the terms of this Agreement; 
  
 (2) safeguard Confidential Information against disclosure to others with the
same degree of care as it exercises with its own data of a similar nature, which shall be no less than reasonable care; 
  
 (3) not disclose Confidential Information to others (except to its employees, agents, professional advisers, consultants, potential investors or
acquirers who are bound to the recipient by a like obligation of confidentiality) without the express written permission of the disclosing party, except that the recipient shall not be prevented from using or disclosing any of the Confidential
Information that: 
  
 (i) the recipient can demonstrate by
written records was previously known to it; 
  
 (ii) is now, or
becomes in the future, public knowledge other than through acts or omissions of the recipient; or 
  
 (iii) is lawfully obtained by the recipient from sources independent of the disclosing party; and 
  
 (c) The secrecy obligations of the recipient with respect to Confidential
Information shall continue for a period ending five (5) years from the termination date of this Agreement. 
  
 10.3 Assignability. This Agreement may not be assigned by either party without the prior written consent of the other party, except that LICENSEE may
assign the rights and obligations hereunder in connection with a merger and acquisition transaction or other change in control of LICENSEE. 
  
 10.4 No Waiver. No waiver by either party of any breach or default of any covenant or agreement set forth in this Agreement shall be deemed a waiver as to
any subsequent and/or similar breach or default. 
  
 10.5 Failure
to Perform. In the event of a failure of performance due under this Agreement and if it becomes necessary for either party to undertake legal action against the other on account thereof, then the prevailing party shall be entitled to reasonable
attorneys’ fees in addition to costs and necessary disbursements. 
  
 10.6 Governing Laws. THIS AGREEMENT SHALL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF VIRGINIA, but the scope and validity of any patent or patent application shall be governed by the applicable laws of
the country of the patent or patent application. 
  

 - 15 of 17 - 

 10.7 Force Majeure. A party to this Agreement may be excused from any performance required herein if such
performance is rendered impossible or unfeasible due to any catastrophe or other major event beyond its reasonable control, including, without limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes,
lockouts, or other serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the non-performing party’s obligations herein shall resume. 
  
 10.8 Headings. The headings of the several articles, paragraphs and sections
are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
  
 10.9 Entire Agreement. This Agreement embodies the entire understanding of the parties and supersedes all previous communications, representations or
understandings, either oral or written, between the parties relating to the subject matter hereof. 
  
 10.10 Amendments. No amendment or modification of this Agreement shall be valid or binding on the parties unless made in writing and signed on behalf of
each party. 
  
 10.11 Severability. In the event that any of the
provisions contained in this Agreement is held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as
if the invalid, illegal, or unenforceable provisions had never been contained in it. 
  
 IN WITNESS WHEREOF, both VTIP and LICENSEE have executed this Agreement, in duplicate originals, by their respective and duly authorized officers as of the Effective Date. 
  

									
	 VTIP:
  
	 	 	 	 LICENSEE
  

					
	 By
	 	 /s/ JAMES BLAIR

	 	 	 	 By
	 	 /s/ KENT A. MURPHY

	 	 	 James Blair
	 	 	 	 	 	 Kent A. Murphy

	 	 	 President
	 	 	 	 	 	 President

			
	  
 Date: March 19,
2004
	 	 	 	  
 Date: March 19,
2004

  

 - 16 of 17 - 

 APPENDIX A 
  

			
		
	VTIP # 99.021	  	 “Discovery of a New Class of Endohedral Metallofullerenes Utilizing a Trimetallic Nitride Template Process”
 Patent No: 6,303,760

		
	VTIP # 02.040	  	 “Endohedral Metallofullerenes as Multi-Functional Medicinal Agents”
 US Patent Application 60/368,960
 PCT Application PCT/US03/10137

		
	VTIP #02.002	  	 “Synthesis of the First Water-Soluble Trimetallic Nitride Endohedral Metallofullerols”
 (Disclosure)

		
	VTIP # 02.001	  	 “Symmetric Derivatives”
 US Patent
Application 10/244,747

  
 Appendix A Page 1 of 1 
  

 - 1 of 1 - 

 June 16, 2004 
  
 Keith Jones, Ph.D. 
 Director of Commercialization 
 Virginia Tech Intellectual Properties, Inc. 
 1872 Pratt Drive 
 Suite 1625 
 Blacksburg, VA 24060 
  
 Re:    Amended and Restated License Agreement with Luna Innovations, Inc. 
  
 Dear Keith: 
  
 Reference is hereby made to the Amended and Restated License Agreement between Luna Innovations Incorporated. (“Luna”) and Virginia Tech
Intellectual Properties, Inc. (“VTIP”), effective March 19, 2004 (“License Agreement”). Section 3.3(a)(8) of the License Agreement provides generally that Luna shall distribute research samples of certain materials
under terms and conditions satisfactory to VTIP and to Luna. The License Agreement further provides that if such terms and conditions are not agreed upon and in place within sixty (60) days of its effective date, the license is terminated.

  
 The Material Transfer Agreement attached as Exhibit A
hereto (“MTA”) is hereby agreed to by the parties to this letter agreement as an acceptable form of Material Transfer Agreement pursuant to Section 3.3(a)(8) of the License Agreement. In addition, the parties agree as follows:

  

	 	1.	VTIP acknowledges that the materials to be provided pursuant to the MTA are likely to be scarce and very expensive. As such, VTIP agrees that Luna shall not be obligated to provide
pursuant to such MTA, more than [****], by mass, of such materials that are under the control of Luna and not committed in writing to third parties at any given time. 

  

	 	2.	VTIP further agrees that any recipient of such materials shall be obligated to pay for the materials, as indicated in Section 11 of the MTA. Such price shall, remunerate Luna
for the costs incurred in, manufacturing, shipping and preparing the materials. 

  
 2851 Commerce Street 
 Blacksburg, VA 24060 
 P: 540.552.5128 
 F: 540.951.0760 
 www.lunainnovations.com 

 Keith Jones 
 April 12, 2004 
 Page 2 
  

	 	3.	Luna agrees to make wide distribution of research quantities of Licensed Product for non-commercial research and development (Research Samples) 

  

	 	4.	To this end LICENSEE agrees to make available at [****] samples of Licensed Product that are in inventory. Luna will supply on an annual basis to VTIP a list (herein the
List) of Licensed Product on hand and a price list for Research Samples. The initial List is attached as Exhibit B. 

  

	 	5.	VTIP further agrees that any dissemination of the Licensed Product pursuant to the MTA shall be effected so as not to jeopardize Luna’s relationship with its corporate
partners, joint venturers and other alliance partners (“Corporate Partners”). Should any such Corporate Partners object, in writing, to the distribution of a single compound or closely related group of compounds, contained in Licensed
Product for use in any single field of use, even for research purposes, VTIP agrees to give Luna permission to cease such distribution for the requested field of use promptly. 

  

	 	6.	Not withstanding section 5 Luna agrees to continue to supply research quantities to existing customers. 

  

	 	7.	Orders for Licensed Product will be tracked and reported to VTIP at least annually or on reasonable notice but not more than once a quarter. Order means a written request from a
non-commercial research organization that includes a description of material, quantity, and price; and has a reasonable expectation of receiving payment. All orders will be distributed under the terms of the Material Transfer Agreement attached to
this agreement as Exhibit A 

  
 If the
foregoing terms properly reflect our agreement regarding the matters set forth in this letter agreement, please indicate your agreement with such terms by signing in the space indicated below and returning a duplicate original of this letter
agreement to us. 
  

	
	 Sincerely,

	
	 /S/    KENT A. MURPHY

	 Name: Kent A. Murphy

	 Title: CEO, Luna Innovations

 Keith Jones 
 April 12, 2004 
 Page 3 
  
 Accepted and Agreed to: 
  
 VIRGINIA TECH INTELLECTUAL PROPERTIES, INC. 
  

			
	By:	 	 /s/ JAMES B. BLAIR

	 Name:
	 	 James B. Blair

	 Title:
	 	 President

  
  

 Exhibit A 
  

MATERIAL TRANSFER AGREEMENT 
  
 This Material Transfer Agreement (“Agreement”) effective as of
                    , 200    , is entered into by and between Luna Innovations, Inc., a Delaware corporation
(“Provider”), and
                                        ,
(“Recipient”). 
  
 The Recipient has requested sample(s)
of experimental material(s) for non commercial research purposes in connection with
                                        
                     (“Purpose”). 
  
 The material(s) to be provided are
                     (provide full description of material to be provided)
                     (“Material”), which Material is the exclusive property of Provider. 
  
 Provider’s [Chief Technology Officer] (Name)
                                        ,
will provide Recipient’s                      Scientist,
                     (Name)
                    ,
                                        
(Title)             , with the Material. 
  
 The parties agree to the following terms and conditions for this material transfer: 
  
 1. Ownership and Use of Material; Quantities. The Material is the property of Provider and is to be used by Recipient
solely for non commercial research purposes only in connection with the field of research described in Appendix A and only under the direction of the Recipient’s Scientist. Recipient acknowledges and agrees that only
             (quantity) of Material shall be furnished to Recipient,. 
  
 Restrictions. Recipient shall not transfer received or modified Material to any other party without the prior written consent of Provider.

  
 2. Data; Results. The following data and related information
will be supplied to the Provider’s [Chief Technology Officer] at the end of the investigations or studies:              (identify the testing data/information to be
delivered—ex: report outlining the studies that were done, a summary of the results and its conclusions regarding the performance of the Material)
                                        
            
                                        
        . Provider shall be granted an irrevocable royalty free license to said information. Provider will not disclose these data to a third party without prior approval by the Recipient. 
  
 3. Rreciprocal Obligations. The Recipient agrees to deliver reasonable
quantities of derivatives of Licensed Material to Provider if available, not otherwise encumbered and for reasonable compensation for Provider’s research and development purposes pursuant to a material transfer agreement reasonably satisfactory
to the parties. 
  
 4. Compliance with Law. Any and all
studies conducted utilizing the Material will be conducted in accordance with all applicable laws, rules and regulations. 

 5. Return of Material. Any and all unused Material may be returned to Provider for a full refund.

  
 6. Patent and Other Rights. Subject to any prior
obligations to third parties existing and any rights reserved by the United States Government pursuant to 35 U.S.C. §§ 200 et seq, Recipient hereby grants to Provider an exclusive right of first negotiation for an agreement which would
include a license (with the right to authorize and grant sublicenses), to any inventions and discoveries resulting from Recipient’s use of the Material(herein inventions and discoveries). Provider shall have sixty (60) days from the date
it receives such written description of any particular invention or discovery to evaluate its interest to develop and commercialize such inventions and discoveries. If Provider, within such sixty (60) day period, gives express written notice to
Recipient of Provider’s interest in first negotiating with Recipient regarding such inventions and discoveries, the parties shall negotiate in good faith and attempt to reach mutually acceptable agreement on the terms and conditions on which
Recipient would grant rights to Provider to develop and commercialize such inventions and discoveries. If Provider fails to timely give such written notice, or if the parties fail to reach such mutually acceptable agreement within one hundred twenty
(120) days after Recipient’s receipt of Provider’s notice of intent to negotiate, thereafter Recipient shall grant to Provider a royalty free non exclusive license to any inventions and discoveries resulting from Recipient’s use
of the Material. 
  
 7. Confidentiality. The parties may
have need to disclose confidential information to one another relating to the Material and its use (“Confidential Information”). Information to be subject to this Agreement shall be disclosed in writing and labeled with an appropriate
proprietary legend. When disclosed verbally or visually, the Confidential Information shall be designated as confidential at the time of such disclosure, with subsequent confirmation provided in writing within thirty (30) calendar days
following such disclosure, referencing the date and description of the Confidential Information disclosed with an appropriate proprietary legend affixed thereto. In consideration of the disclosure of Confidential Information, the parties agree as
follows: 
  
 a. Neither party will directly or indirectly divulge
to unauthorized persons any Confidential Information received from the other party pursuant to this Agreement. The receiving party will disclose such information only to its employees or agents with a need to know for the Purpose of this Agreement,
and any employees or agents to whom such information is disclosed shall be informed of the confidential nature of the disclosure and of this Agreement and shall agree, pursuant to an agreement or instrument reasonably acceptable to the disclosing
party, to hold such information in confidence and be bound by this Agreement in the same manner that each party is bound. Each party will exercise the same degree of care as is normally applied to protect their own such information, but in any
event, no less than reasonable care. 
  
 b. Each party may use
Confidential Information only to the extent required to accomplish the Purpose of this Agreement. The receiving party will not copy any Confidential Information of the disclosing party, except as necessary to carry out the Purpose of this Agreement
and shall protect any such copies in accordance with this Agreement. Confidential Information shall not be used for any purpose or in any manner that would constitute a violation of any laws or regulations, including without limitation, the export
control laws of the United States. 

 c. The termination of this Agreement shall not relieve either party of its obligations with respect to
Confidential Information received under this Agreement, and the confidentiality obligations under this Agreement shall survive the termination of this Agreement and continue for a term of Five (5) years from the initial receipt of any
Confidential Information. 
  
 d. All Confidential Information
shall remain the property of the disclosing party. Upon written request of the disclosing party, the receiving party shall immediately return or destroy the Confidential Information supplied by the disclosing party, including any and all copies
thereof and including all analyses, compilations, summaries, studies and other material prepared by such party or its employees and based in whole or in part on, or otherwise containing or reflecting, any of the Confidential Information. 

 
 e. Recipient hereby acknowledges and agrees that in the event of any
breach of this Section 7 by Recipient, including, without limitation, the disclosure of Confidential Information without the prior express written consent of Provider, Provider may suffer irreparable injury, such that no remedy at law will
afford it adequate protection against, or appropriate compensation for, such injury. Accordingly, the Recipient hereby agrees that Provider may be entitled to specific performance of Recipient’s obligations under this Section 7, as well as
such further injunctive relief as may be granted by a court of competent jurisdiction. 
  
 f. Any confidentiality obligation under this Agreement shall not apply to any information, knowledge, data, and/or know-how with respect to which any of the following conditions exist: 
  
 i. If the receiving party can show that such information was already in its
possession at the time of the disclosure; or, 
  
 ii. If the
information disclosed by one party is or becomes publicly known during the term of this Agreement otherwise than through a breach of the receiving party’s obligations under this Agreement; or, 
  
 iii. If the receiving party later receives such information from a third
party who is not under any obligation to keep such information confidential; or, 
  
 iv. If such information is developed by one party independently of any disclosures made under this Agreement, as evidenced by that party’s written records; or 
  
 v. Such disclosure is in response to a valid order of a court of competent
jurisdiction or other governmental body of the United States or any political subdivision thereof, or is otherwise required to be disclosed by law; provided, however, that the receiving party shall first have given prompt written notice to the
disclosing party in order to allow the disclosing party to participate in objecting to production of the information. 

 8. Publication. Recipient will be free to publish results of the research utilizing the Material
after providing Provider with a thirty (30) day period in which to review each publication to identify patentable subject matter and to identify any inadvertent disclosure of Provider’s proprietary information. If necessary to permit the
preparation and filing of U.S. patent applications, the Recipient agrees to grant an additional review period not to exceed sixty (60) days. Any further extension will require subsequent written agreement between the Recipient and Provider.
Recipient agrees to provide appropriate acknowledgment of the source of the Material in all publications. Recipient shall not use the name of the Provider or any contraction or derivative thereof or the name(s) of the Provider’s affiliates or
employees in any advertising, promotional, sales literature, or fundraising documents without prior written consent from Provider. No news release, publicity or other public announcement, either written or oral, regarding the terms and/or the
existence of this Agreement, or performance hereunder, shall be made by Provider or Recipient without the prior written approval of the other party. 
  
 9. No Other Licenses or Rights. Nothing in this Agreement grants any rights, either expressly, by implication, estoppel, or otherwise, to any
license under any invention, patent, or in any know-how of the Provider nor any rights to use the Material or any product or process related thereto or derived therefore for profit making or commercial purposes. If Recipient desires to use Material
and related patents, if any, for profit-making or commercial purposes, Recipient agrees to negotiate in good faith a license with Provider prior to making any profit-making or commercial use. Provider shall have no obligation to grant such license
to Recipient, and may grant exclusive or non-exclusive licenses to others who may be investigating uses of the Material. 
  
 10. Payment. Recipient shall make the following payment to cover the cost of producing the Material and shipping and preparation of the Material:
                     (amount required)
                    . 
  
 11. No Alteration of Rights. The provision of Material to Recipient is understood to alter in no way any rights of the U.S. Government or other
research sponsor or Provider. 
  
 12. Disclaimer of
Warranties. Any Material delivered pursuant to this Agreement is understood to be experimental in nature and may have hazardous properties. PROVIDER MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. THERE
ARE NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER PROPRIETARY RIGHTS. 
  
 13. Limitation of Liability; Indemnity. Recipient assumes all liability for damages that may arise from its use,
storage or disposal of the Material. In no event shall Provider be liable to Recipient for any use of such Material, and Recipient hereby agrees, where not precluded by federal or state law, to defend, indemnify, and hold Provider harmless from any
loss, claim, damage, or liability, of whatsoever kind or nature, which may arise from or in connection with this Agreement or the use, storage or disposal of such Material hereunder. 

 14. Termination. Either party may terminate this Agreement at any time, in which case Recipient
will discontinue within fifteen (15) days its use of the Material until such time as a new agreement between the parties is established. If no agreement is established between the parties, Recipient agrees, upon direction of Provider, to return
any unused portions of the Material to the Provider, or dispose of it in a manner mutually agreeable to both parties. 
  
 15. Entire Agreement. This Agreement represents the entire, complete, and final understanding between the parties on the subject matter herein and
supersedes any previous or other understandings, commitments, or agreements, oral or written. 
  
 16. Assignment. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party, except that Provider may assign its rights and obligations hereunder
in connection with a merger, acquisition or sale of substantially all of its assets or business. 
  
 17. Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall
be an original, but all such counterparts shall together constitute one and the same agreement. 
  
 IN WITNESS WHEREOF, the parties have, through duly authorized representatives, executed this Agreement effective as of the date in the preamble hereof.

  

									
	LUNA INNOVATIONS, INC.	 	 	 	 	 	(Recipient)
					
	 By:
	 	
	 	 	 	 By:
	 	

			
	
	 	 	 	

			
	Name	 	 	 	 Name

			
	
	 	 	 	

			
	Title	 	 	 	 Title

			
	
	 	 	 	

			
	Date	 	 	 	Date

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