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	[***]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 
 

Exhibit 10.15    
    

 
 

Ikanos/Sasken Project Agreement
  India Design Center    
    

        This Agreement is entered into as of October 30, 2003 ("Effective Date") by and between Ikanos Communications International Inc., a corporation
organized under the laws of California, USA, and having its primary place of business at 47669 Fremont Boulevard, Fremont, CA 94538 (hereafter "Ikanos"), and Sasken Communication
Technologies Ltd., a limited company organized under the laws of India, and having its registered office at No. 139/25, Domlur Layout, Ring Road, Domlur PO, Bangalore—560 071
(hereafter "Sasken"). 

        Whereas,
Ikanos and Sasken currently enjoy a mutually beneficial arrangement whereby Sasken provides certain services to Ikanos; and 

        Whereas
Ikanos desires to initiate and incubate a design center ("Design Center" or "IDC") in India for the purpose of accelerating its product development cycles; and 

        Whereas
Sasken desires to use its expertise as a service provider in areas related to Ikanos' business to facilitate the creation of such a design center; 

        Therefore
the parties desire to explore a mutually beneficial business arrangement between them. 

1.     Purpose.  

	(a)
	Subject
to the terms and conditions set forth in this Agreement, Sasken agrees to provide the services set forth in this Agreement.

	(b)
	Sasken
shall hire and/or assign such personnel to the Design Center project ("Ikanos Project") and maintain the project for a term not to exceed one year from the effective date of
MOU i.e. August 4, 2003 (the "Incubation Period"), at which time certain of the personnel, together with certain infrastructure components, shall be transferred permanently to Ikanos as
specified in Section 4.

 

	2.
	Engineering Resources. The parties intend to allocate human resources towards the completion of the project per the following schedule: 

        Table 1

	Skills
 
	 	Existing Resources on Ikanos Project as on August 4, 2003

("Existing Resources")
	 	Sasken personnel moved from other projects to Ikanos

("Allocated Resources")
	 	Hired specifically by Sasken on behalf of Ikanos

("Hired Resources")

	DSL dev.	 	[***]	 	[***]	 	[***]
	DSL QA	 	[***]	 	[***]	 	[***]
	IC design (5 Design + 5 Verification)	 	[***]	 	[***]	 	[***]
	FPGA bring up	 	[***]	 	[***]	 	[***]
	 	 	
	 	
	 	

	 	Total	 	[***]	 	[***]	 	[***]
	 	 	
	 	
	 	

        The
Existing Resources, Allocated Resources and Hired Resources shall hereinafter be referred to as the "IDC Resources". The initial IDC Resources shall be [***] 

	(a)
	Ikanos
shall participate in the interview process for selection of hired Resources. All personnel decisions (including base salary level) must be approved by Vallabh Kulkarni of
Ikanos for IDC, and in his absence by Anoop Khurana of Ikanos. 

 

	(b)
	Allocated
Resources have been engaged by Sasken by as of August 15, 2003. Any special training necessary in order to qualify a candidate already acceptable to both parties
shall be provided by Ikanos personnel at Sasken's facility in Bangalore at no additional charge.

	(c)
	Ikanos
may request additional resources beyond those stated in the table under Clause 2 at any time during the Agreement. Sasken shall use its best efforts to accommodate any
such request. The terms of this Agreement shall apply in totality to any additional resources that Sasken may provide pursuant to Ikanos' request.

	(d)
	All
IDC Resources will be employees of Sasken during the Incubation Period. Sasken will be responsible for payroll, vacations, festival bonuses etc, and leave policy for the for the
IDC Resources shall be in line with Sasken's internal leave policies.

 

	3.
	Other resources. The parties shall allocate the following resources towards the completion of the project: 

        Table 2

	OTHER RESOURCE TABLE
 

	Item
 
	 	Description of Item
	 	Ownership

	1	 	Cubicles/offices for Engineers with furniture, telephone	 	[***]
	2	 	PCs and work stations	 	[***]
	3	 	EDA software tools	 	[***]
	4	 	Other software licenses as and when required	 	[***]
	5	 	Firewall, VPN, server, storage	 	[***]
	6	 	Communications link equipments + one time charges	 	[***]
	7	 	Quarterly communications charges	 	[***]
	8	 	UPS, generators, telephones	 	[***]
	9	 	Equipment Maintenance charges	 	[***]
	10	 	Lab space of 1000 sq ft	 	[***]
	11	 	Card Entry for IDC members	 	[***]
	12	 	Office space, PCs for Ikanos visiting Engineers (Total of 30 cubicles to be maintained as part of IDC)	 	[***]

	(a)
	Ikanos
shall pay for all the material purchased by Sasken on behalf of Ikanos subject to Ikanos' prior approval; upon payment by Ikanos, such materials shall become assets of Ikanos.

	(b)
	Sasken
shall provide 30 cubicles within a secured area reserved for the Design Center, of which up to twenty four (24) shall be occupied by IDC Resources and six
(6) shall be reserved for visiting Ikanos personnel. Ikanos employees or representatives occupying the reserved cubicles will be entitled to the use of facilities such as Sasken cafeteria and
gym at no extra cost. If the number of IDC Resources goes above 24 and any of the Ikanos reserved cubicles are used by such additional members, Ikanos will pay only for Ikanos reserved cubicles not
used by IDC Resources. 

2

 

4.     Transfer Mechanics.  

        Table 3

	TRANSFERS
 

	Skills
 
	 	Number of Current Sasken Engineers who may be transferred

("Transferred Resources")
	 	Hired Resources
	 	Continuing with Sasken

("Sasken IDC Resources")

	DSL Dev.	 	[***]	 	[***]	 	[***]
	DSL QA	 	[***]	 	[***]	 	[***]
	IC design (5 Design + 5 Verification)	 	[***]	 	[***]	 	[***]
	FPGA bring up	 	[***]	 	[***]	 	[***]
	 	 	
	 	
	 	

	 	Total	 	[***]	 	[***]	 	[***]
	 	 	
	 	
	 	

	(a)
	Upon
conclusion of the Incubation Period but not later than 6 months from the end of the Incubation Period, Ikanos may transfer Hired Resources to Ikanos. Ikanos shall provide
Sasken a prior written notice of at least 3 months if Ikanos elects not to transfer Hired Resources. Provided,

	(i)
	No
such notice may be given by Ikanos prior to May 3, 2004; and

	(ii)
	In
the event that Ikanos notifies Sasken of its intention not to transfer the Hired Resources at anytime after May 3, 2004 and prior to August 3, 2004,
Ikanos shall pay Sasken [***] of the rates mentioned in Clause 5(a) for non-DSL Hired Resources from the date Ikanos notifies Sasken of its intent not to
transfer till August 3, 2004 and [***] of the rates mentioned in Clause 5(a) for non-DSL Hired Resources for the balance of the three (3) month
notice period. 

No
such payments shall be due for any time within the described period where the Hired Resources are working on a billable project (including, but not limited to the Ikanos project) or in any event
after three (3) months from the date Ikanos notifies Sasken of its intent not to transfer the Hired Resources, 

	(b)
	Upon
conclusion of the Incubation Period but not later than [***] from the end of the Incubation Period, Ikanos may transfer Transferred Resources, up to a
maximum number as set forth in the Table 3 above, provided the prior consent of Transferred Resources is obtained in respect of such transfer. Transferred Resources who may be transferred to Ikanos in
accordance with this Section shall become employees of Ikanos, subject to the payment of the required transfer fees by Ikanos as set forth in Section 5 below.

	(c)
	Sasken
and Ikanos shall mutually agree on the specific existing Sasken resources to be transferred to Ikanos (Transferred Resources in Table 3). Subject to the consent of the
identified individuals, Sasken shall transfer the identified resources to Ikanos. The parties agree that Ikanos shall engage and continue to pay, at the rates mentioned in Clause 5(a), as many
IDC Resources as are existing at the time that Ikanos exercises its transfer option until expiry of the Agreement. Each Party agrees to engage at least 11 IDC Resources under this Agreement. Both
parties shall exercise best efforts to ensure that there is no replacement of such personnel due to resignation or any other reason.

	(d)
	If
at any time prior to transfer of resources to Ikanos and after Sasken has met the engineering resource requirements set forth in paragraph 2, Ikanos reduces the number of
IDC Personnel below [***] for reasons other than performance related personnel adjustments, then 

3

 

	(i)
	In
addition to any other amounts payable, Ikanos shall pay Sasken amounts as set out in Clause 5(a) per month in the same proportion to the resource skill ratio
as set out in Table 1, i.e. [***] DSL development and QA engineers to [***] IC Design Engineers, thereafter for the number of IDC
Personnel so reduced, for the remainder of the Incubation Period so long as there are fewer than [***] personnel; and Sasken honors the transfer commitment; or

	(ii)
	Ikanos
shall have no right to require transfer of Transferred Resources under the Agreement. 

5.     Payments.  

	(a)
	Ikanos
shall pay the following monthly per-person rate for the Engineering Resources during the Incubation Period: 

	(i) IC design team:	 	[***] per month;
	(ii) FPGA design team:	 	[***] per month;
	(iii) Software non DSL	 	[***] per month;
	(iv) DSL team:	 	[***] per month
	for team of 1-13, [***] for 14th engineer and onwards up to 18 and [***] for 19th and onwards;

	(b)
	In
addition, for Transferred Resources or any personnel who were assigned to the Design Center project as mutually agreed upon replacements for personnel removed from the Ikanos
Project for performance reasons who are transferred to Ikanos, Ikanos shall pay Sasken the per-person, per month fee set out in Clause 5(a) above, for 12 months in case of
"lead" personnel and 9 months for "non-lead" personnel as per the rates set out Clause 5(a) above. For the purpose of this Clause 5(b), lead personnel shall mean
personnel who are designated as project lead, any equivalent thereof, any higher designation or any other person as may be mutually agreed. All other personnel shall be non-lead personnel.

	(c)
	Other
charges incidental to the Design Center will be payable by Ikanos as follows: 

	(i) Lab area:	 	US [***] per sq/ft per month;
	(ii) IT support:	 	US [***] per person week;
	(iii) Additional cubicles reserved for Ikanos personnel and not utilized by IDC resources (subject to a maximum of 6 cubicles) @ [***] per cubicle/month

	(d)
	At
the end of the Incubation Period, Ikanos may move the operations of the Design Center to a facility other than Sasken. In the event Ikanos so elects to move the operations to
another facility, the rates set out in Clause 5(a) in respect of DSL Design team shall be reduced to [***] for first [***] engineers and
[***] from [***] engineer up to [***] engineer. All other rates shall remain unchanged. In the event that Ikanos moves the
operations of the Design Center to a facility other than Sasken at anytime during the Incubation period, the rates set out in Clause 5(a) shall remain unchanged until the end of the Incubation
Period.

	(e)
	Travel
charges payable by Ikanos for Engineers to visit US is as follows:

	(i)
	For
visits up to [***], Ikanos shall pay monthly per person rate as discussed in 5(a) above, airfare, accommodation and conveyance at actuals as
approved by Ikanos plus $USD [***] per person per day.

	(ii)
	For
visits exceeding eight weeks, Ikanos shall pay airfare, visa charges, a flat rate of US [***] per person month for visits to USA, Euro
[***] per person month for visits to Europe and USD [***] per person month for visits to Canada in lieu of any amounts due 

4

 

under
paragraph 5(a). Rates for visits to countries not covered in the above will be mutually agreed as and when required. 

	(f)
	The
IDC Resources and the Sasken IDC Resources shall be entitled to 15 days of leave per annum of which only 7.5 days shall be billed to Ikanos.

	(g)
	For
the Hired Resources whose agreed compensation package is beyond the Sasken Norms, Sasken shall fix a compensation package that is based on Sasken Norms. The extra amount to he
paid in each case will be split into two equal parts, one part each to be paid by Ikanos and Sasken. Sasken shall pay 20% of its part as Joining Bonus to each such Hired Resource and the remaining 80%
of its part as Retention Bonus at the time of transfer to Ikanos. Ikanos shall pay its part of the extra amount at the time of transfer to Ikanos.

	(h)
	Sasken
shall raise an invoice on the last working day of every month for the amounts due during the month via (i) email to the following addresses: vle@ikanos.com and
ldavies@ikanos.com, and (ii) facsimile to: Attn: Accounts Payable, fax number 510-979-0500. Ikanos shall pay such invoices within 15 days from the date of receipt
of such invoices.

	(i)
	Ikanos
shall be deemed to have accepted an invoice for Services if no written/e-mailed objection is presented within 10 business days from the date of such invoice via
facsimile. If such objection is made, the parties shall make every reasonable effort to settle promptly the dispute concerning the invoice in question. Any delayed payment over 15 days that is
not disputed by Ikanos will cause Ikanos to pay Sasken interest on the outstanding balance from the 16th day @ 1.5% per month.

	(j)
	All
payments shall be made by Ikanos in US Dollars with the following instructions to Ikanos's bankers: 

Pay
to: 

Union
Bank of California International

New York, NY 10047 (USA) 

For:
Union Bank of India, Overseas Branch, Erntakulam.

Account: 91-137349-1121 UID 127188

Swift Code: UBININBBKCH 

For
Final Credit To: 

Sasken
Communication Technologies Limited, Bangalore

Union Bank of India,

Industrial finance Branch, Bangalore

Swift Code: UBININBBIBB 

Sasken
shall keep Ikanos apprised of any changes in the above information. 

6.     Taxes.  

	(a)
	The
effort cost for each Employee and any other costs or expenses includes all currently known taxes, duties, assessments or other charges of any kind related to the performance of
Services or measured by amounts payable to Sasken in any transaction between Ikanos and Sasken under this Agreement, including without limitation any value added taxes and sales taxes.

	(b)
	If
any new tax, duty or assessment of any kind related to the performance of Services arises, the purchase order price will be renegotiated accordingly. 

5

 

7.     Insurance.  

	(a)
	Prior
to commencing any work or service under the Agreement, Sasken shall provide evidence of general liability insurance to Ikanos. The coverage shall not be less $1 million
per occurrence and $2 million in the aggregate.

	(b)
	Prior
to any travel to the US by Sasken employees for a period greater than eight weeks, Sasken shall provide proof of (i) Worker's Compensation insurance, and,
(ii) auto liability insurance. 

8.     Ownership of Intellectual Property Rights.  

	(a)
	Sasken
acknowledges that all work product, including but not limited to notes, records, drawings, copyrightable material, designs, inventions, improvements, developments, discoveries
and trade secrets (collectively, "Work Product") conceived, made or discovered by Sasken, solely or in collaboration with others, in the course of
performing Services under this Agreement, and during the period of this Agreement, that Sasken may be directed to undertake, investigate or experiment with, or which Sasken may become associated with
in work, investigation or experimentation in the line of business of Ikanos in performing the Services hereunder, are the sole property of Ikanos, and shall, to the extent possible, be considered
works made for hire for Ikanos within the meaning of Title 17 of the United States Code.

	(b)
	Sasken
further shall assign (or cause to be assigned) and does hereby assign fully to Ikanos all Work Product and any copyrights, patents, mask work rights or other intellectual
property rights relating thereto.

	(c)
	Sasken
shall assist Ikanos, or its designee, at Ikanos' expense, in every proper way to secure Ikanos' rights in the Work Product and any copyrights, patents, mask work rights or
other intellectual property rights relating thereto in any and all countries, including the disclosure to Ikanos of all pertinent information and data with respect thereto, the execution of all
applications, specifications, oaths, assignments and all other instruments that Ikanos deems necessary in order to apply for and obtain such rights and in order to assign and convey to Ikanos, its
successors, assigns and nominees the sole and exclusive right, title and interest in and to such Work Product, and any copyrights, patents, mask work rights or other intellectual property rights
relating thereto. Sasken further agrees that Sasken's obligation to execute or cause to he executed, when it is in Sasken's power to do so, any such instrument or papers will continue after the
termination of this Agreement.

	(d)
	If
in the course of performing the Services, Sasken incorporates into any Work Product developed hereunder any invention, improvement, development, concept, discovery or other
proprietary information owned by Sasken, Sasken shall inform Ikanos, in writing before incorporating such invention, improvement, development, concept, discovery or other proprietary information into
any Work Product. In the event that Sasken incorporates any such invention, improvement, development, concept, discovery or other proprietary information into the Work Product, the parties shall enter
into a separate license agreement in respect of such invention, improvement, development, concept, discovery or other proprietary information. In the event Sasken incorporates any such invention,
improvement, development, concept, discovery or other proprietary information without Ikanos' prior written consent, then Sasken hereby grants Ikanos a nonexclusive, royalty-free,
perpetual, irrevocable, worldwide license, with rights to sublicense and authorize sublicenses, to use, reproduce, distribute, perform, display, prepare derivative works of, make, have made, sell,
offer to sell and import such item as part of or in connection with such Work Product. Sasken shall not incorporate 

6

 

any
invention, improvement, development, concept, discovery or other proprietary information owned by any third party into any Work Product without Ikanos' prior written permission. 

	(e)
	Where
Ikanos is unable because of Sasken's unavailability, dissolution, mental or physical incapacity, or for any other reason, to secure Sasken's signature to apply for or to pursue
any application for any United States or foreign patents or mask work or copyright registrations covering the Work Product assigned to Ikanos above, then Sasken hereby irrevocably designates and
appoints Ikanos and its duly authorized officers and agents as Sasken's agent and attorney in fact, to act for and in Sasken's behalf and stead to execute and file any such applications and to do all
other lawfully permitted acts to further the prosecution and issuance of patents, copyright and mask work registrations thereon with the same legal force and effect as if executed by Sasken. 

9.     Confidentiality.  

	(a)
	Confidential
Information shall mean any proprietary information, including but not limited to technical data, trade secrets or know-how, software, developments,
inventions, processes, formulas, technology, designs, drawings, engineering, engineering specifications and test specifications, marketing, finances, forecasts, procurement requirements, or other
business plans or information disclosed by one Party to the other either directly or indirectly in writing, orally or by drawings or inspection of parts or equipment. Confidential Information may also
include information disclosed to a disclosing party by third parties. The Party disclosing the information shall be referred to in this Agreement as the "Discloser". The Party receiving such
information shall be referred to as the "Recipient". Confidential Information does not include information which (i) is known to Recipient at the time of disclosure, without confidentiality
restrictions, as evidenced by written records of the Recipient; or (ii) has become publicly known and made generally available through no wrongful act or inaction of the Recipient; or
(iii) has been rightfully received by the Recipient from a third party who is authorized to make such disclosure.

	(b)
	Sasken
shall not, during or subsequent to this Agreement use Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of Ikanos, or
disclose the same to any third party or to Employees, except to those Employees who are required to have the information in order to perform the Services. It is understood that the said Confidential
Information shall remain the sole property of Ikanos. Sasken further agrees to take all reasonable precautions to prevent any unauthorized disclosure and unauthorized use of such Confidential
Information. Without limiting the foregoing, Sasken shall take at least those measures that it takes to protect its own most highly confidential information and shall ensure that its employees who
have access to Confidential Information of the other party have signed a non-use and non-disclosure agreement in content similar to the provisions hereof, prior to any
disclosure of Confidential Information to such employees. Sasken shall not reverse engineer, disassemble or decompile any prototypes, software or other tangible objects which embody Ikanos'
Confidential Information on Intellectual Property.

	(c)
	In
the event of disclosure of Sasken's methodologies, systems, processes, inventions, algorithms, procedures, techniques and work approaches, all of which are proprietary and
confidential to Sasken, the Parties shall enter into a mutual non-disclosure agreement prior to such disclosure.

	(d)
	Neither
party will directly or indirectly disclose to a third party the terms of this Agreement without prior written approval, but either party may disclose the existence of this
Agreement. No such approval is required in the event either party is compelled by law, any court or other governmental body to disclose the terms and conditions of this Agreement. Notwithstanding 

7

 

the
foregoing, each Party may disclose the terms and conditions of this Agreement: (i) to legal counsel of the Parties; (ii) in connection with the requirements of a public offering or
securities filing; (iii) in confidence, to accountants, banks, and financing sources and their advisors; (iv) in confidence, in connection with the enforcement of this Agreement or
rights under this Agreement; (v) to Reserve Bank of India and Software Technology Parks of India or (vi) in confidence, in connection with a merger or acquisition or proposed merger or
acquisition, or the like. 

	(e)
	The
obligations of the Parties under this Section 9 shall survive the termination of this Agreement for a period of 2 years.

	(f)
	Either
party shall upon the termination of this Agreement for any reason, as requested by the other party and at the other party's cost immediately destroy or deliver and cause its
employees to so destroy or deliver to the other party or its order all inputs, including but not limited to all Confidential Information, material, papers, software and hardware provided by one party
to the other. 

10.   Non-Competition.  

	(a)
	Sasken
certifies that it has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement, or that would preclude it from complying with the
provisions hereof, and further certifies that it will not enter into any such conflicting Agreement during the term of this Agreement.

	(b)
	In
view of Sasken's access to Ikanos' Intellectual Property, Confidential Information, trade secrets and proprietary know-how, Sasken further agrees that it will not,
without Ikanos' prior written consent, assign IDC Resources who have had access to Ikanos' Confidential Information or who have worked on the Ikanos Project to work on projects in the field of DSL
technology for a competitor of Ikanos during the term of this Agreement and for a period of six (6) months after the termination of this Agreement. The list of competitors shall be set forth in
Exhibit B hereto, and may be revised by Ikanos once every six months from the Effective Date through the term of the Agreement. Ikanos shall pay Sasken 80% of the rates mentioned in
Clause 5(a) for any Resources who are prevented by Ikanos from taking an assignment according to the terms of this paragraph until such time that the restriction is no longer applicable. This
subsection (e) shall not apply to any Hired Resources in the event that Ikanos does not exercise its transfer option in respect of said Hired Resources. Nothing in the foregoing part of this
clause shall be deemed to restrict Sasken in providing services to third parties so long as Sasken does not breach its obligations under this clause. 

11.   Warranties and Indemnification.  

	(a)
	Sasken
hereby represents and warrants that (i) all Work Product will be the original work of Sasken; (ii) the Work Product will not knowingly infringe the copyright,
patent, trade secret, or any other intellectual property right of any third party; and (iii) Sasken will not incorporate into the Work Product any virus, trap door, worm, or any other device
that is injurious or damaging to software or hardware used in conjunction with the Work Product. This Warranty shall not apply if Sasken complies with any specifications or instructions issued by
Ikanos or if Sasken uses any material provided by Ikanos and the infringement or damage to software would not have occurred but for Sasken's compliance with such instructions or specifications or use
of any material provided by Ikanos. Except for the express warranties above, there are no warranties, express or implied, and specifically there are no implied warranties of merchantability or fitness
for a particular purpose. 

8

 

	(b)
	Sasken
will indemnify and hold Ikanos harmless from and against all claims, losses, liabilities, damages, costs and expenses (including, without limitation, reasonable attorneys' fees
and other expenses of litigation) relating to (i) personal injury or damage to or loss of property arising from Sasken's conduct, or (ii) in the case where Sasken supplies 1P, a claim
that the Work Product infringes any patent, copyright, trade secret, trademark, or other intellectual property right by reason of incorporation into the Work Product any proprietary information owned
by Sasken as stated in Section 8(d). This indemnity shall not apply if Sasken complies with any specifications or instructions issued by Ikanos or if Sasken uses any material provided by Ikanos
and the infringement or damage would not have occurred but for Sasken's compliance with such instructions or specifications or use of any material provided by Ikanos.

	(c)
	Except
for a breach of Section 9 or any liability under Section 11(b)(ii), neither party's liability to the other shall exceed amounts paid under this Agreement.
Liability for a breach under Section 9 (provided Sasken has complied with its duty of reasonable care set forth in paragraph 9(b)) and any liability under Section 11
(b)(ii) shall be limited to $4 million. In no other event shall either party have any liability to the other, or any third party, for any indirect, consequential, incidental or special
damages hereunder including without limitation, damages due to lost profits, loss of anticipated use, or the inability to use technology, under any cause of action or theory of liability (whether
based on warranty, breach of contract, tort (including negligence), product liability, strict liability or any other legal or equitable theory) and whether or not sasken has been advised of the
possibility of such damage. The parties agree and acknowledge that these limitations on potential liabilities were an essential element in setting consideration under and entering into this agreement.

	(d)
	In
the event that Ikanos requires Sasken's employees to utilize any Ikanos material including visiting cards, and any third party, including Ikanos' customers, makes any claim against
Sasken's employees for any misrepresentation by Sasken employees that they are Ikanos' employees, Ikanos shall hold Sasken and its employees harmless against any loss, damage or expense that Sasken
and its employees may incur due to such claim.

	(e)
	Sasken
shall have no liability to Ikanos for those Sasken employees that Ikanos requires to utilize any Ikanos material including visiting cards if' such Sasken employee(s) make(s) a
claim that such Sasken employee(s) is Ikanos' employee(s) on the basis of such material provided to them by Ikanos. Sasken agrees to provide reasonable assistance to Ikanos in obtaining signed
letters, in the form attached hereto as Exhibit A, from such Sasken employees. 

12.   Arbitration.  

	(a)
	The
Parties shall endeavor to settle any dispute or claim arising out of or in connection with this Agreement or the performance, breach or termination thereof, between them by
negotiation.

	(b)
	Any
such disputes or claims outstanding after recourse to the methods suggested in (a) above shall be finally settled by binding arbitration in San Francisco, California under
the Rules of Arbitration of the International Chamber of Commerce by three arbitrators appointed in accordance with said rules. Judgment on the award rendered by the arbitrators may be entered in any
court having jurisdiction thereof. Notwithstanding the foregoing, either party may apply to any court of competent jurisdiction for injunctive relief without breach of this arbitration provision. 

9

 

13.   Term and Termination.  

	(a)
	This
Agreement is valid for a period from the Effective Date mentioned above until August 4, 2005 unless terminated earlier in accordance with this Section. Both parties agree
that this Agreement may be extended as may be mutually agreed upon between the parties in writing.

	(b)
	A
party may terminate any project or the entire Agreement:

	(i)
	Upon
15 days prior written notice in the event the other party materially breaches any provision of this Agreement and fails to remedy the said breach to the
non-defaulting party's reasonable satisfaction within such 15 day period; or

	(ii)
	Immediately
in the event the other party becomes insolvent or is adjudged bankrupt, assigns all or a substantial part of its business or assets for the benefit of
creditors, permits the appointment of a receiver for its business or assets, or otherwise ceases to conduct business in the normal course.

	(c)
	In
the event that anytime prior to exercising its transfer option, Ikanos reduces the number of IDC Personnel to less than 11, for reasons other than performance-related personnel
adjustments, and Ikanos fails to pay Sasken amounts as set out in Clause 4(d)(i), Sasken may terminate the Agreement forthwith.

	(d)
	In
the event of termination due to any of the reasons, in addition to any other amounts payable, Ikanos shall also pay Sasken for Services rendered such amount as calculated on a
pro-rata basis till the date of termination. 

14.   General Provisions.  

	(a)
	If
either party shall be considered in breach of this Agreement or in default of its obligations hereunder because it fails to perform or observe any or all of the terms of this
Agreement resulting directly or indirectly from causes beyond the reasonable control of such party, such as but not limited to, acts of God, Civil or military authority, acts of the public enemy, war,
riots, civil disturbances, insurrections, accidents, explosions, fires, earthquakes, floods, transportation embargoes, epidemics, acts of government, its agencies or officers, or any other legitimate
cause beyond the reasonable control of the parties, the party whose performance is affected or is likely to get effected thereby, shall promptly notify the other party of the occurrence of such cause,
and the time allowed for performance by the affected party will be extended for the duration of such cause. However, if as a consequence of such cause, performance by a party under this Agreement
shall be prevented for a period longer than two (2) months, then the other party shall have the right to terminate this Agreement after a month's notice. The terms of termination under this
condition will be with no liabilities or penalties.

	(b)
	Failure
of either party at any time to require performance of any provisions of this Agreement shall not affect the right to require full performance of the Agreement terms at any
time thereafter, and the waiver by any party of a breach of such provision shall not be taken or held to be a waiver of any subsequent breach or nullification of the effectiveness of such provision.
Except as otherwise provided in this Agreement, any waiver, amendment or other modification of this Agreement will not be effective unless it is in writing and signed by both the parties.

	(c)
	This
agreement will be governed and construed in accordance with the laws of California, USA, without reference to conflict of law principles.

	(d)
	This
Agreement sets forth the entire understanding and agreement of the parties as to the subject matter of this Agreement. It may not be changed orally but only in writing signed by 

10

 

both
parties. The terms of this Agreement will govern all Services undertaken by Sasken for Ikanos and shall supersede any existing terms and conditions given anywhere else in connection with the work
to be performed under this Agreement. 

	(e)
	If'
any provision of this Agreement is held to be invalid or unenforceable for any reason, the remaining provisions will continue in full force without being impaired or invalidated
in any way. Sasken and Ikanos agree to replace any invalid provision with a valid provision that most closely approximates the intent and effect of the invalid provision.

	(f)
	Neither
this Agreement nor any of the rights or obligations of either Party arising under this Agreement may be assigned or transferred without the other's prior written consent;
except that either party may, without the other party's consent, assign this Agreement or any of its rights or delegate any of its duties under this Agreement to any purchaser of all or substantially
all of such party's assets or to any successor by way of merger, consolidation or similar transaction, this Agreement will be binding on and for the benefit of the Parties assigns and representatives.
Any assignment in violation of the foregoing will be null and void.

	(g)
	Titles
or headings to the sections of this Agreement are not part of the terms of this Agreement, but are inserted solely for convenience.

	(h)
	All
notices, requests and other communications under this Agreement must be in writing, and must be mailed by registered or certified mail, postage prepaid and return receipt
requested, or delivered by hand to the party to whom such notice is required or permitted to be given, or sent by e-mail. If mailed, any such notice will be considered to have been given
three (3) business days after it was mailed, as evidenced by the postmark. If delivered by hand, any such notice will be considered to have been given when received by the party to whom the
notice is given, as evidenced by written and dated receipt of the receiving party and if sent by e-mail any such notice shall be deemed received when the receipt acknowledged is received
by the sender.

	(i)
	Notwithstanding
any expiration or termination of this Agreement, the following sections of this Agreement shall survive: Sections 4, 5, 8, 9, 10, 11, 12 13 and 14 and
Exhibit B. All other rights granted hereunder will cease upon expiration or termination,

	(j)
	Ikanos
agrees that during the term of the Agreement and for a period of six months after the expiry or termination of this Agreement, Ikanos shall not directly or indirectly solicit
for employment any Sasken employees. This clause shall not apply in respect of Hired Resources and any Transferred Resources who have agreed to be transferred to Ikanos in accordance with
Section 4(c). 

11

 

        In
witness thereof, the parties have caused this Agreement to be executed by their respective authorized representatives. 

	

 	

 	
 	

 	

 
	Ikanos Communications, Inc.	 	Sasken Communication Technologies Ltd.
	

By:	

/s/  ANOOP SINGH KHURANA      
	
 	

By:	

/s/  NEETA REVANKAR      

	

Name:	

Anoop Singh Khurana
	
 	

Name:	

Neeta Revankar

	

Title:	

V.P. Engr., Ikanos Comm.
	
 	

Title:	

CFO

	

 	

 	
 	

By:	

/s/  RAJIV C. MODY      

	

 	

 	
 	

Name:	

Rajiv C. Mody

	

 	

 	
 	

Title:	

Chairman & CEO

12

 
 
 

EXHIBIT A    
    

 
 

Material Status and Consent Form    
    

        I, the undersigned, hereby acknowledge that under the terms of the India Design Center Project Agreement (the "Agreement") dated October 30, 2003 between
Ikanos Communications and Sasken Communication Technologies Limited certain material, including but not limited to access and identity cards, belonging to Ikanos Communications may be supplied to me
for use in furthering Ikanos' corporate purposes in my capacity as a Sasken employee. 

        I
hereby agree as a condition to receiving such materials that I shall not use such materials to assert any claim, in any venue whatsoever, that my receipt or possession of such
materials constitute an offer of employment by Ikanos or entitles me to any of the benefits thereof. 

	Signed,	 	 
	

 	
 	

 
	

 	
 	

 
	

	
 	

 

13

 
 
 

EXHIBIT B    
    
    List of Ikanos Competitors    
    

Analog
Devices 

Broadcom 

Centillium
Communications 

Conexant 

ElectriPHY 

GlobespanVirata

Huconex

Infineon

Intel

LSI
Logic 

Metalink

Mindspeed

Samsung
Semiconductor 

ST
Microelectronics 

Texas
Instruments 

	[***]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

14

QuickLinks

Exhibit 10.15

Ikanos/Sasken Project Agreement India Design Center

EXHIBIT A

Material Status and Consent Form

EXHIBIT B List of Ikanos CompetitorsEXHIBIT 10.25
                                                                   -------------

                     NATIONAL FINANCIAL COMMUNICATIONS CORP.

                              CONSULTING AGREEMENT

         AGREEMENT made as of the 8th day of June 2004 by and between LOCATEPLUS
Holdings Corporation, maintaining its principal offices at 100 Cummings Center,
Suite 235M, Beverly, MA 01915 (hereinafter referred to as "Client") and National
Financial Communications Corp. DBA/ OTC Financial Network, a Commonwealth of
Massachusetts corporation maintaining its principal offices at 300 Chestnut St,
Suite 200, Needham, MA 02492 (hereinafter referred to as the "Company").

         WITNESSETH:

         WHEREAS, Company is engaged in the business of providing and rendering
public relations and communications services and has knowledge, expertise and
personnel to render the requisite services to Client; and

         WHEREAS, Client is desirous of retaining Company for the purpose of
obtaining public relations and corporate communications services so as to
better, more fully and more effectively deal and communicate with its
shareholders and the investment banking community.

         NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements contained herein, it is agreed as follows:

         I. Engagement of Company. Client herewith engages Company and Company
agrees to render to Client public relations, communications, advisory and
consulting services.

                  A. The consulting services to be provided by the Company shall
include, but are not limited to, the development, implementation and maintenance
of an ongoing program to increase the investment community's awareness of
Client's activities and to stimulate the investment community's interest in
Client. Client acknowledges that Company's ability to relate information
regarding Client's activities is directly related to the information provided by
Client to the Company. The Company agrees to perform the following in
satisfaction of its obligation under the contract

                    i. Develop a national presence with micro-cap institutional
                       investors.
                   ii. Develop and maintain a database of existing and potential
                       investors.
<PAGE>
                  iii. Develop and execute a national campaign to increase
                       shareholder base.
                  iv.  Author and distribute up to 150 press releases with
                       Client provided material.
                  v.   Author and distribute up to 10, shareholder communication
                       correspondence.
                  vi.  Develop a national shareholder appreciation convention
                       series.
                  vii. Manage up to 10 national conventions

                  B.  Client acknowledges that Company will devote such time as
is reasonably necessary to perform the services for Client, having due regard
for Company's commitments and obligations to other businesses for which it
performs consulting services.

         II. Compensation and Expense Reimbursement.

                  A. Client will pay the Company, as compensation for the
services provided for in this Agreement and as reimbursement for expenses
incurred by Company on Client's behalf, in the manner set forth in Schedule A
annexed to this Agreement which Schedule is incorporated herein by reference.

                  B. In addition to the compensation and expense reimbursement
referred to in Section 2(A) above, Company shall be entitled to receive from
Client a "Transaction Fee", as a result of any Transaction (as described below)
between Client and any other company, entity, person, group or persons or other
party which is introduced to, or put in contact with, Client by Company, or by
which Client has been introduced to, or has been put in contact with, by Company
excluding Dutchess Advisors. A "Transaction" shall mean merger, sale of stock,
sale of assets, consolidation or other similar transaction or series or
combination of transactions whereby Client or such other party transfer to the
other, or both transfer to a third entity or person, stock, assets, or any
interest in its business in exchange for stock, assets, securities, cash or
other valuable property or rights, or wherein they make a contribution of
capital or services to a joint venture, commonly owned enterprise or business
opportunity with the other for purposes of future business operations and
opportunities. To be a Transaction covered by this section, the transaction must
occur during the term of this Agreement or the one year period following the
expiration of this Agreement.

                  The calculation of a Transaction Fee shall be based upon the
total value of the consideration, securities, property, business, assets or
other value given, paid, transferred or contributed by, or to, the Client and
shall equal 5% of the dollar value of the Transaction. Such fee shall be paid by
certified funds at the closing of the Transaction. In addition
<PAGE>

for each dollar value transacted, the Company will be awarded one, 3-year
warrant with an exercise price at $.20 per share (B SHARES).

         TERM AND TERMINATION. This Agreement shall be for a period of twelve
months commencing June 8, 2004 and terminating at the completion of all agreed
upon work.

         TREATMENT OF CONFIDENTIAL INFORMATION. Company shall not disclose,
without the consent of Client, any financial and business information concerning
the business, affairs, plans and programs of Client which are delivered by
Client to Company in connection with Company's services hereunder, provided such
information is plainly and prominently marked in writing by Client as being
confidential (the "Confidential Information"). The Company will not be bound by
the foregoing limitation in the event (i) the Confidential Information is
otherwise disseminated and becomes public information or (ii) the Company is
required to disclose the Confidential Informational pursuant to a subpoena or
other judicial order.

         REPRESENTATION BY COMPANY OF OTHER CLIENTS. Client acknowledges and
consents to Company rendering public relations, consulting and/or communications
services to other clients of the Company engaged in the same or similar business
as that of Client.

         INDEMNIFICATION BY CLIENT AS TO INFORMATION PROVIDED TO COMPANY. Client
acknowledges that Company, in the performance of its duties, will be required to
rely upon the accuracy and completeness of information supplied to it by
Client's officers, directors, agents and/or employees. Client agrees to
indemnify, hold harmless and defend Company, its officers, agents and/or
employees from any proceeding or suit which arises out of or is due to the
inaccuracy or incompleteness of any material or information supplied by Client
to Company.

         INDEPENDENT CONTRACTOR. It is expressly agreed that Company is acting
as an independent contractor in performing its services hereunder. Client shall
carry no workers compensation insurance or any health or accident insurance on
Company or consultant's employees. Client shall not pay any contributions to
social security, unemployment insurance, Federal or state withholding taxes nor
provide any other contributions or benefits which might be customary in an
employer-employee relationship.

         NON-ASSIGNMENT. This Agreement shall not be assigned by either party
without the written consent of the other party.

         NOTICES. Any notice to be given by either party to the other hereunder
shall be sufficient if in writing and sent by registered or certified mail,
return receipt requested, addressed
<PAGE>
to such party at the address specified on the first page of this Agreement or
such other address as either party may have given to the other in writing.

         ENTIRE AGREEMENT. The within agreement contains the entire agreement
and understanding between the parties and supersedes all prior negotiations,
agreements and discussions concerning the subject matter hereof.

         MODIFICATION AND WAIVER. This Agreement may not be altered or modified
except by writing signed by each of the respective parties hereof. No breach or
violation of this Agreement shall be waived except in writing executed by the
party granting such waiver.

         LAW TO GOVERN; FORUM FOR DISPUTES. This Agreement shall be governed by
the laws of the Commonwealth of Massachusetts without giving effect to the
principle of conflict of laws. Each party acknowledges to the other that courts
within the City of Boston, Massachusetts shall be the sole and exclusive forum
to adjudicate any disputes arising under this agreement. In the event of
deliquent fees owed to the Company, Client will be responsible for pay for all
fees associated with the collection of these fees.

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

NATIONAL FINANCIAL COMMUNICATIONS CORP.

By:

--------------------------
Geoffrey Eiten, President

Date

LOCATEPLUS Holdings Corporation

By:

--------------------------
Jon Latorella, CEO
Date

SCHEDULE A        PAYMENT FOR SERVICES AND REIMBURSEMENT OF EXPENSES.

<PAGE>

SCHEDULE A

PAYMENT FOR SERVICES
AND REIMBURSEMENT OF EXPENSES

         A. For the services to be rendered and performed by Company during the
term of the Agreement, Client shall pay to Company either the sum of $500,000 in
a one-time cash payment or 4.0 Million restricted shares of Class A Voting
Common payable at the execution of this agreement.

If paid in restricted shares, the Company is entitled to "Piggy Back"
Registration. If at any time the Client shall determine to register any of its
securities under the Securities Act (including pursuant to a demand of any
stockholder of the Company exercising registration rights), other than on Form S
8 or Form S 4 or their then equivalents, the Client shall include in such
registration statement all Registerable Shares Company requests to be registered
therein.

         B. Client shall also reimburse Company for all reasonable and necessary
out-of-pocket expenses incurred in the performance of its duties for Client upon
presentation of statements setting forth in reasonable detail the amount of such
expenses. Company shall not incur any expense for any single item in excess of
$250 either verbally or written except upon the prior approval of the Client.
Company agrees that any travel, entertainment or other expense which it may
incur and which may be referable to more than one of its clients (including
Client) will be prorated among the clients for whom such expense has been
incurred.

National Financial Communications Corp.

By:

----------------------
Geoffrey Eiten, President
Date

LOCATEPLUS.com, Inc.

By:

----------------------
Jon Latorella
Date

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