Document:

Contribution Agreement

    Exhibit
      10.1

     

    Certain
      portions of this exhibit have been omitted pursuant to Rule 24b-2 and are
      subject to a confidential
      treatment request.

    Copies
      of this exhibit containing the omitted information have been
filed
      separately with the Securities and Exchange Commission.

    The
      omitted portions of this document are marked with a ***.

    
 

    CONTRIBUTION
      AGREEMENT

     

    This
      Contribution Agreement (this “Agreement”) is entered into as of April 24, 2007
      by and between The Sherwin-Williams Company, Inc. an Ohio corporation (“SW”) and
      Altairnano, Inc., a Nevada corporation (“AN”), and Alsher Titania LLC, a
      Delaware limited liability company (“LLC”).

     

    BACKGROUND

     

    LLC
      desires to sell to SW and AN, and SW and AN desire to purchase from LLC,
      membership units of the LLC (the “Units”), with the rights, preferences,
      privileges, restrictions and obligations set forth in LLC’s Limited Liability
      Company Agreement, of even date herewith (the “Operating Agreement”), on the
      terms and conditions set forth herein.

     

    AGREEMENT

     

    Now,
      therefore, in consideration of the foregoing recitals and the mutual promises
      set forth in this Agreement, and other good and valuable consideration, the
      receipt and sufficiency of which are hereby acknowledged, the parties to this
      Agreement agree as follows:

     

    
      	1.            
              	
              AGREEMENT
                TO PURCHASE AND SELL
                UNITS.

            

    

     

    1.1    Agreement
      to Issue Units.
      Subject
      to the terms and conditions of this Agreement, including without limitation
      the
      satisfaction or waiver of the closing conditions set forth in Section 1.4,
      LLC
      shall issue and sell to SW and AN, and SW and AN each agree to accept from
      LLC,
      the number of Units adjacent to each party’s name on the attached Exhibit A in
      consideration for the contribution of assets described in Section
      1.2.

     

    1.2    Contribution
      of Assets.
      Subject
      to the terms and conditions of this Agreement, including without limitation
      the
      satisfaction or waiver of the closing conditions set forth in Section 1.4,
      SW
      and AN shall each convey, transfer, assign, sell and deliver (“Transfer”) to
      LLC, and LLC shall acquire and accept, all of SW’s and AN’s right, title and
      interest in and to the assets described on the attached Exhibit B (for assets
      from SW) and Exhibit C (for assets from AN) (collectively the “Contributed
      Assets”).

     

    1.3    The
      Closing.
      The
      closing (the “Closing”) of the issuance and sale of the Units and the
      contribution of the Contributed Assets will take place at 10:00 A.M. on April
      ____, 2007 at Reno, NV, or at such other place, time and date as the LLC, SW
      and
      AN shall mutually designate. The date of the Closing shall be referred to herein
      as the “Closing Date.”

     

    1.4    Conditions
      to Closing.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (a)    Conditions
      to Obligations of SW and AN.
      The
      obligation of SW and AN to purchase Units pursuant to this Agreement is subject
      to the fulfillment, prior to or at the Closing, of the following
      conditions:

     

    (i)    LLC
      shall
      have delivered to SW and AN certificates from the relevant governmental entity,
      dated the most recent practicable date prior to the Closing, showing that LLC
      is
      organized and in good standing in the jurisdiction of its
      organization.

     

    (ii)    The
      parties shall have received all approvals and actions of or by all governmental
      entities necessary to consummate the transactions contemplated
      hereby.

     

    (iii)    No
      order,
      statute, rule, regulation, executive order, injunction, stay, decree or
      restraining order shall have been enacted, entered, promulgated or enforced
      by
      any governmental entity that prohibits the consummation of the transactions
      contemplated hereby, and no litigation or proceeding seeking such order shall
      be
      pending or threatened.

     

    (iv)    LLC
      shall
      have performed and satisfied each of its obligations under this Agreement
      required to be performed and satisfied by it on or prior to the Closing Date;
      each of the representations and warranties of LLC contained in this Agreement
      shall be true and correct on the Closing Date as though made on the Closing
      Date, except for changes specifically permitted by this Agreement or resulting
      from any transaction to which both SW and AN have expressly consented in writing
      or any transaction specifically contemplated by this Agreement.

     

    (v)    LLC
      has
      authorized and approved the execution and performance of this Agreement, and
      shall have authorized and approved the creation, sale and issuance of the
      Units.

     

    (vi)    LLC
      shall
      have delivered to SW and AN such other documents as each party may reasonably
      request for the purpose of (A) evidencing the satisfaction of any condition
      referred to in this Section or (B) otherwise facilitating the consummation
      or
      performance of any of the transactions contemplated hereby.

     

    (b)    Conditions
      to Obligations of the Company.
      The
      obligation of LLC to consummate the issuance and sale pursuant to this Agreement
      is subject to the fulfillment, prior to or at such Closing, of the following
      conditions:

     

    (i)    The
      parties shall have received all approvals and actions of or by all governmental
      entities necessary to consummate the transactions contemplated
      hereby.

     

    (ii)    No
      order,
      statute, rule, regulation, executive order, injunction, stay, decree or
      restraining order shall have been enacted, entered, promulgated or enforced
      by
      any governmental entity that prohibits the consummation of the transactions
      contemplated hereby, and no litigation or governmental proceeding seeking such
      order shall be pending or threatened.

     

    (iii)    SW
      and AN
      each shall have performed and satisfied each of its obligations under this
      Agreement required to be performed and satisfied by it on or prior to the
      Closing Date; each of the representations and warranties of both SW and AN
      contained in this Agreement shall be true and correct on the Closing Date as
      though made on the Closing Date, except for changes specifically permitted
      by
      this Agreement or resulting from any transaction to which LLC has expressly
      consented in writing or any transaction specifically contemplated by this
      Agreement.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (iv)    SW
      and AN
      each shall have authorized and approved the execution and performance of this
      Agreement and LLC shall have received a certificate to that effect signed on
      behalf of both SW and AN by an authorized officer of each, dated as of the
      Closing Date.

     

    (v)    SW
      and AN
      shall have delivered to LLC such other documents as LLC may reasonably request
      for the purpose of (A) evidencing the satisfaction of any condition referred
      to
      in this Section or (B) otherwise facilitating the consummation or performance
      of
      any of the transactions contemplated hereby.

     

    1.5    Delivery
      At the Closing.

     

    (a)    SW
      and AN
      each shall deliver to LLC (i) fully executed documents of conveyance to effect
      the contribution of the Contributed Assets, in forms that are reasonably
      acceptable to LLC, and (ii) an executed counterpart signature page to the
      Operating Agreement, in the form provided by LLC; and

     

    (b)    LLC
      shall
      deliver to SW and AN each one or more certificates representing the Units to
      be
      purchased at the Closing, registered in such names as SW and AN each
      request.

     

    1.6    Further
      Assurances.
      On and
      after the Closing Date, SW and AN each agree to perform, at LLC’s expense, all
      acts deemed necessary or desirable by LLC to evidence, perfect, obtain,
      maintain, defend and enforce LLC’s title to the Contributed Assets, as well as
      any rights LLC may have by virtue of its ownership of the Contributed Assets.
      Such acts may include, but are not limited to, execution of documents and
      assistance or cooperation in legal proceedings.

     

    
      	2.            
              	
              SW
                REPRESENTATIONS AND WARRANTIES.

            

    

     

    SW
      hereby
      represents and warrants to LLC and AN that the statements in this Section 2
      are
      all true and correct:

     

    2.1    Organization/Power.
      SW is a
      corporation that is duly organized, validly existing and in good standing under
      the laws of Ohio, and possesses all requisite power and authority to own and
      operate its properties and assets and to carry on its business as presently
      conducted and as proposed to be conducted.

     

    2.2    Authorization.
      SW has
      the necessary power and authority to enter into, execute and deliver this
      Agreement and the other related documents and agreements referenced herein
      to be
      executed and delivered by SW in connection with the consummation of the
      transactions contemplated by this Agreement to perform its obligations hereunder
      and thereunder, and to consummate the transactions contemplated hereby and
      thereby. The execution and delivery of this Agreement and related agreements
      and
      the consummation of the transactions contemplated hereby and thereby have been
      duly and validly authorized by all required action on the part of SW (including,
      without limitation, action by any governing body or any holders of equity
      securities of SW, if applicable). This Agreement and related agreements have
      been executed and delivered by SW and constitute legal and binding agreements
      enforceable against SW in accordance with their respective terms, subject,
      as to
      the enforcement of remedies, to applicable bankruptcy, reorganization,
      insolvency, moratorium and similar laws affecting creditors’
rights.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    2.3    Actions
      and Proceedings.
      There
      are no outstanding orders, judgments, injunctions, awards or decrees of any
      court, governmental or regulatory body or arbitration tribunal in any
      jurisdiction against or involving SW with respect to the Contributed Assets.
      There are no actions, suits or claims or legal, administrative or arbitral
      proceedings or, to the best knowledge of SW, investigations pending or, to
      the
      best knowledge of SW, threatened against or involving SW with respect to the
      transactions contemplated by this Agreement. To the best knowledge of SW, there
      is no fact, event or circumstance that may give rise to any suit, action, claim,
      investigation or proceeding that individually or in the aggregate reasonably
      would be expected to have a material adverse effect upon the transactions
      contemplated hereby.

     

    2.4    No
      Conflicts.
      No
      consents, permits, authorizations, orders and approvals from (or any filings
      or
      registrations with) any natural person, firm, partnership, association,
      corporation, company, trust, business trust, governmental entity, or any other
      entity (each, a “Person”), pursuant to applicable law or contracts or other
      agreements with SW, are required in connection with the performance of SW’s
      obligations under this Agreement and the related agreements. The execution,
      delivery and performance of this Agreement and the related agreements by SW
      shall not: (a) result in a violation of any law, rule, ordinance, regulation,
      order, judgment or decree applicable to SW or the Contributed Assets; or (b)
      conflict with or result in a material breach of or default (with or without
      the
      giving of notice, the passage of time or both) under any mortgage, lien, lease,
      license, permit, agreement, contract or instrument to which SW is a party or
      by
      which SW may be bound.

     

    2.5    Title.
      SW has
      good and marketable title to the Contributed Assets, free and clear of all
      mortgages, liens, pledges, charges, security interests, attachments, judgments
      or encumbrances (collectively, “Liens”). By virtue of the deliveries made at the
      Closing, LLC will obtain good and marketable title to the Contributed Assets,
      free and clear of all Liens of any nature whatsoever.

     

    2.6    Securities
      Representations.

     

    (a)    SW
      has
      not been formed for the primary purpose of acquiring the Units, and is
      purchasing the Units for SW’s own account, with the intention of holding the
      Units for investment, with no present intention of dividing, or allowing others
      to participate in, this investment, or of reselling, or otherwise participating
      directly or indirectly in a distribution of, the Units. SW will not, directly
      or
      indirectly, offer, transfer, sell, assign, pledge, hypothecate or otherwise
      dispose of any of the Units (or solicit any offers to buy or otherwise acquire
      any of the Units), except in compliance with the Securities Act of 1933, as
      amended (the “Securities Act”). LLC is not obligated to register the Units under
      the Securities Act or the laws of any other jurisdiction. The Units are subject
      to additional restrictions on transfer set forth in the Operating
      Agreement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b)    SW
      is an
“accredited investor” (as that term is defined in Rule 501 of Regulation D under
      the Securities Act) and by reason of its business and financial experience,
      it
      has such knowledge, sophistication and experience in business and financial
      matters as to be capable of evaluating the merits and risks of the prospective
      investment and is able to bear the economic risk of such investment, including
      the ability to afford holding the Units for an indefinite period or to afford
      a
      complete loss of this investment.

     

    (c)    SW
      understands that no federal or state agency has made any finding or
      determination regarding the fairness of the offering of the Units for
      investment, or any recommendation or endorsement of the offering of the
      Units.

     

    
      	3.            
              	
              AN
                REPRESENTATIONS AND WARRANTIES.

            

    

     

    AN
      hereby
      represents and warrants to LLC and SW that the statements in this Section 3
      are all true and correct:

     

    3.1    Organization/Power.
      AN is a
      corporation that is duly organized, validly existing and in good standing under
      the laws of Nevada, and possesses all requisite power and authority to own
      and
      operate its properties and assets and to carry on its business as presently
      conducted and as proposed to be conducted.

     

    3.2    Authorization.
      AN has
      the necessary power and authority to enter into, execute and deliver this
      Agreement and the other related documents and agreements referenced herein
      to be
      executed and delivered by AN in connection with the consummation of the
      transactions contemplated by this Agreement, to perform its obligations
      hereunder and thereunder, and to consummate the transactions contemplated hereby
      and thereby. The execution and delivery of this Agreement and related agreements
      and the consummation of the transactions contemplated hereby and thereby have
      been duly and validly authorized by all required action on the part of AN
      (including, without limitation, action by any governing body or any holders
      of
      equity securities of AN, if applicable). This Agreement and related agreements
      have been executed and delivered by AN and constitute legal and binding
      agreements enforceable against AN in accordance with their respective terms,
      subject, as to the enforcement of remedies, to applicable bankruptcy,
      reorganization, insolvency, moratorium and similar laws affecting creditors’
rights.

     

    3.3    Actions
      and Proceedings.
      There
      are no outstanding orders, judgments, injunctions, awards or decrees of any
      court, governmental or regulatory body or arbitration tribunal in any
      jurisdiction against or involving AN with respect to the Contributed Assets.
      There are no actions, suits or claims or legal, administrative or arbitral
      proceedings or, to the best knowledge of AN, investigations pending or, to
      the
      best knowledge of AN, threatened against or involving AN with respect to the
      transactions contemplated by this Agreement. To the best knowledge of AN, there
      is no fact, event or circumstance that may give rise to any suit, action, claim,
      investigation or proceeding that individually or in the aggregate reasonably
      would be expected to have a material adverse effect upon the transactions
      contemplated hereby.

     

    3.4    No
      Conflicts.
      No
      consents, permits, authorizations, orders and approvals from (or any filings
      or
      registrations with) any Person, pursuant to applicable law or contracts or
      other
      agreements with AN, are required in connection with the performance of AN’s
      obligations under this Agreement and related agreements. The execution, delivery
      and performance of this Agreement and related agreements by AN shall not: (a)
      result in a violation of any law, rule, ordinance, regulation, order, judgment
      or decree applicable to AN or the Contributed Assets; or (b) conflict with
      or
      result in a material breach of or default (with or without the giving of notice,
      the passage of time or both) under any mortgage, lien, lease, license, permit,
      agreement, contract or instrument to which AN is a party or by which AN may
      be
      bound.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    3.5    Title.
      AN has
      good and marketable title to the Contributed Assets, free and clear of all
      Liens. By virtue of the deliveries made at the Closing, LLC will obtain good
      and
      marketable title to the Contributed Assets, free and clear of all Liens of
      any
      nature whatsoever.

     

    3.6    Securities
      Representations.

     

    (a)    AN
      has
      not been formed for the primary purpose of acquiring the Units, and is
      purchasing the Units for AN’s own account, with the intention of holding the
      Units for investment, with no present intention of dividing, or allowing others
      to participate in, this investment, or of reselling, or otherwise participating
      directly or indirectly in a distribution of, the Units. AN will not, directly
      or
      indirectly, offer, transfer, sell, assign, pledge, hypothecate or otherwise
      dispose of any of the Units (or solicit any offers to buy or otherwise acquire
      any of the Units), except in compliance with the Securities Act. LLC is not
      obligated to register the Units under the Securities Act or the laws of any
      other jurisdiction. The Units are subject to additional restrictions on transfer
      set forth in the Operating Agreement.

     

    (b)    AN
      is an
“accredited investor” (as that term is defined in Rule 501 of Regulation D under
      the Securities Act) and by reason of its business and financial experience,
      it
      has such knowledge, sophistication and experience in business and financial
      matters as to be capable of evaluating the merits and risks of the prospective
      investment and is able to bear the economic risk of such investment, including
      the ability to afford holding the Units for an indefinite period or to afford
      a
      complete loss of this investment.

     

    (c)    AN
      understands that no federal or state agency has made any finding or
      determination regarding the fairness of the offering of the Units for
      investment, or any recommendation or endorsement of the offering of the
      Units

     

    
      	4.            
              	
              LLC
                REPRESENTATIONS AND WARRANTIES.

            

    

     

    LLC
      hereby represents and warrants to both SW and AN that the statements in this
      Section 4 are all true and correct:

     

    4.1    Organization/Power.
      LLC is
      a limited liability company that is duly organized, validly existing and in
      good
      standing under the laws of Delaware, and possesses all requisite power and
      authority to own and operate its properties and assets and to carry on its
      business as presently conducted and as proposed to be conducted.

     

    4.2    Authorization.
      LLC has
      the necessary power and authority to enter into, execute and deliver this
      Agreement and the other related documents and agreements referenced herein
      to be
      executed and delivered by LLC in connection with the consummation of the
      transactions contemplated by this Agreement, to perform its obligations
      hereunder and thereunder, and to consummate the transactions contemplated hereby
      and thereby. The execution and delivery of this Agreement and the related
      agreements and the consummation of the transactions contemplated hereby and
      thereby have been duly and validly authorized by all required action on the
      part
      of LLC (including, without limitation, action by any governing body or any
      holders of equity securities of LLC, if applicable). This Agreement and the
      related agreements have been duly executed and delivered by LLC and constitute
      legal and binding agreements enforceable against LLC in accordance with their
      respective terms, subject, as to the enforcement of remedies, to applicable
      bankruptcy, reorganization, insolvency, moratorium and similar laws affecting
      creditors’ rights.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    4.3    No
      Conflicts.
      No
      consents, permits, authorizations, orders or approvals from (or any filings
      or
      registrations with) any Person, pursuant to applicable law or contracts or
      other
      agreements with LLC, are required in connection with the performance of LLC’s
      obligations under this Agreement and the related agreements. The execution,
      delivery and performance of this Agreement and the related agreements by LLC
      shall not: (a) result in a violation of any law, rule, ordinance, regulation,
      order, judgment or decree applicable to LLC or its properties and assets; or
      (b)
      conflict with or result in a material breach of or default (with or without
      the
      giving of notice, the passage of time or both) under any mortgage, lien, lease,
      license, permit, agreement, contract or instrument to which LLC is a party
      or by
      which LLC may be bound.

     

    4.4    Exempt
      Offering.
      The
      offer, issuance, sale and delivery of the Units, as provided in this Agreement,
      are exempt from the registration and qualification requirements of the
      Securities Act and all applicable state securities laws, and are otherwise
      in
      compliance with such laws. Neither LLC nor any Person acting on its behalf
      has
      taken or will take any action (including, without limitation, any offering
      of
      any securities of the Company under circumstances which would require the
      integration of such offering with the offering of the Units under the Securities
      Act) which might subject the offering, issuance or sale of the Units to the
      registration requirements of the Securities Act.

     

    
      	5.            
              	
              AGREEMENTS
                REGARDING UNITS.
                

            

    

     

    LLC
      and
      SW and AN agree as follows:

     

    5.1    Restrictive
      Legends.
      To the
      extent that LLC issues a certificate representing the Units or any other
      securities issued in respect of the Units upon any equity split, equity
      dividend, recapitalization, merger or similar event, any such certificate shall
      be stamped or otherwise imprinted with a legend substantially in the following
      form:

     

    “The
      securities evidenced by this certificate have not been registered under the
      Securities Act of 1933 or any applicable state law, and no interest therein
      may
      be sold, distributed, assigned, offered, pledged or otherwise transferred unless
      (a) there is an effective registration statement under such Act and applicable
      state securities laws covering any such transaction involving said securities,
      or (b) such transaction is exempt from registration and either this corporation
      receives an opinion of legal counsel to the holder of such securities to that
      effect or this corporation otherwise satisfies itself that such transaction
      is
      exempt from registration.”

     

    5.2    Removal
      of Restrictive Legend.
      The
      legend set forth above shall be removed by LLC from any certificate evidencing
      the Units or any other of LLC’s securities acquired by SW or AN pursuant to this
      Agreement upon delivery to LLC of an opinion by counsel reasonably satisfactory
      to LLC, if requested by LLC, that either: (a) a registration statement under
      the
      Securities Act is at that time in effect with respect to the legended security
      or (b) that such security can be freely transferred in a public sale without
      such a registration statement being in effect and that such transfer shall
      not
      jeopardize the exemption or exemptions from registration pursuant to which
      LLC
      issued the Units.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	6.            
              	
              MISCELLANEOUS.

            

    

     

    6.1    Governing
      Law.
      This
      Agreement shall be governed in all respects by the laws of Delaware without
      regard to provisions regarding choice of laws.

     

    6.2    Survival.
      The
      representations, warranties, covenants and agreements made herein shall survive
      any investigation made by any party hereto and the closing of the transactions
      contemplated hereby.

     

    6.3    Successors
      and Assigns.
      Except
      as otherwise expressly provided in this Agreement, the provisions of this
      Agreement shall inure to the benefit of, and be binding upon, the successors,
      assigns, heirs, executors and administrators of the parties to this Agreement
      whose rights or obligations hereunder are affected by such amendments. This
      Agreement and the rights and obligations in it may not be assigned by any party
      hereto without the written consent of the other parties hereto.

     

    6.4    Entire
      Agreement.
      This
      Agreement and the Schedules and Exhibits to this Agreement, which are hereby
      expressly incorporated in this Agreement, constitute the entire understanding
      and agreement between the parties with regard to the subjects hereof and
      thereof.

     

    6.5    Notices.
      Except
      as may be otherwise provided herein, all notices, requests, waivers and other
      communications made pursuant to this Agreement shall be in writing and shall
      be
      conclusively deemed to have been duly given: (a) when hand delivered to the
      other party; (b) when received if sent by facsimile at the address set forth
      below; or (c) five (5) business days after deposit in the U.S. mail with
      first-class or certified mail receipt requested postage prepaid and addressed
      to
      the other party as set forth below:

     

    If
      to
      SW:

    

    The
      Sherwin-Williams Company

    101
      Prospect Avenue, N.W.

    Cleveland,
      Ohio 44115

    Fax:
      (216) 566-1708

    Attention:
      General Counsel

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    If
      to
      AN:

    

    Altairnano,
      Inc.

    204
      Edison Way

    Reno,
      NV
      89502 

    Fax:
      (775) 858-3731

    Attention:
      Alan Gotcher

    

    If
      to
      LLC:

    

    Alsher
      Titania LLC

    204
      Edison Way

    Reno,
      NV
      89502 

    Fax:
      (775) 856-1619

    Attention:
      Basil Smidt

    

    Each
      person making a communication hereunder by facsimile shall promptly confirm
      receipt by telephone to the person to whom such communication was addressed
      each
      communication made by it by facsimile pursuant hereto, but the absence of such
      confirmation shall not affect the validity of any such communication. A party
      may change or supplement the addresses given above, or designate additional
      addresses, for purposes of this Section 6.5 by giving the other party written
      notice of the new address in the manner set forth above. 

     

    6.6    Amendments
      and Waivers.
      Any
      term of this Agreement may be amended only with the written consent of each
      of
      the parties to this Agreement.

     

    6.7    Delays
      or Omissions.
      No
      delay or omission to exercise any right, power or remedy accruing to LLC or
      SW
      or AN, upon any breach or default of any party hereto under this Agreement,
      shall impair any such right, power or remedy of LLC, or SW or AN, nor shall
      it
      be construed to be a waiver of any such breach or default, or an acquiescence
      therein, or of any similar breach or default thereafter occurring, nor shall
      it
      be construed as a waiver of any other breach or default theretofore or
      thereafter occurring be so construed. Any waiver, permit, consent or approval
      of
      any kind or character on the part of LLC or SW or AN of any breach or default
      under this Agreement or any waiver on the part of LLC or SW or AN of any
      provisions or conditions of this Agreement must be in writing and shall be
      effective only to the extent specifically set forth in such writing. All
      remedies, either under this Agreement or by law or otherwise afforded to LLC
      or
      SW or AN, shall be cumulative and not alternative. 

     

    6.8    Legal
      Fees.
      In the
      event of any action at law, suit in equity or arbitration proceeding in relation
      to this Agreement, any Units, any assets or liabilities described herein, the
      prevailing party, shall be paid by the nonprevailing party a reasonable sum
      for
      attorneys’ fees and expenses incurred by such prevailing party. 

     

    6.9    Finder’s
      Fees.
      Each
      party represents and warrants to the other parties to the Agreement that it
      has
      retained no finder or broker in connection with the transactions contemplated
      by
      this Agreement. 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    6.10    Titles;
      Construction.
      The
      titles of the Sections, paragraphs and subparagraphs of this Agreement are
      for
      convenience of reference only and are not to be considered in construing this
      Agreement. Whenever the words “included,” “includes” or “including” are used in
      this Agreement, they shall be deemed to be followed by the words “without
      limitation.” No rule of construction shall be applied to the disadvantage of a
      party by reason of that party having been responsible for the preparation of
      this Agreement or any part hereof.

     

    6.11    Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      an original, but all of which together shall constitute one instrument.

     

    6.12    Severability.
      In case
      any provision of this Agreement shall be invalid, illegal, or unenforceable,
      the
      validity, legality and enforceability of the remaining provisions of this
      Agreement shall not in any way be affected or impaired thereby, and this
      Agreement shall be construed as if such invalid, illegal or unenforceable
      provision had never been contained herein, but only to the extent that such
      construction is in accord with the intent of the parties as evidenced by this
      Agreement.

     

    6.13    No
      Third-Party Beneficiaries.
      Except
      as expressly set forth herein, nothing in this Agreement shall confer any rights
      upon any person or entity that is not a party, or a successor in interest or
      a
      permitted assignee of a party to this Agreement.

     

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

     

    
      	 	
              THE SHERWIN-WILLIAMS COMPANY

               

               

              By: /s/________________________________

              Name:________________________________

              Title:_________________________________

            
	 	 
	 	 
	 	
              ALTAIRNANO, INC.

               

               

              
                By: /s/________________________________

                Name:________________________________

                Title:_________________________________

              

            
	 	 
	 	 
	 	
              ALSHER TITANIA LLC

               

               

              
                
                  By: /s/________________________________

                  Name:________________________________

                  Title:_________________________________

                

              

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    UNITS

    

     

    
      
        	The Sherwin-Williams Company	*** Units
	 	 
	Altairnano, Inc.	***
                Units

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    Sherwin-Williams
      Company, Inc. Contributed Assets

    

     

    1.    $***
      (to
      be contributed within 5 business days of the date hereof).

    

    2.    That
      certain License Agreement between the LLC and SW dated April 24,
      2007.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      C

    Altairnano,
      Inc. Contributed Assets 

    

     

    1.    The
      list
      of assets attached to this Exhibit C.

     

    2.    That
      certain License Agreement between the LLC and AN dated April 24,
      2007.License Agreement

    Exhibit
      10.2

    

    LICENSE
      AGREEMENT

     

    This
      LICENSE AGREEMENT (“Agreement”)
      is
      entered into as of April 24, 2007 (the “Effective
      Date”)
      by and
      between ALTAIRNANO, INC., a Nevada corporation, having its principal place
      of
      business at 204 Edison Way, Reno, Nevada (“Altairnano”)
      and
      AlSher Titania LLC, a Delaware limited liability company, having its principal
      place of business at 204 Edison Way, Reno, Nevada (“ALSHER”).
      Altairnano and ALSHER may each be referred to herein individually as a
“Party”
and
      collectively as the “Parties.”

    

    RECITALS

    

    A.    Altairnano
      owns proprietary processes for the extraction of Ti values from ilmenite ore
      to
      produce pigment grade TiO2
      and
      other titanium-containing materials;

     

    B.    Altairnano
      and The Sherwin Williams Company (“Sherwin”)
      have
      formed ALSHER to evaluate, design, construct, commission, and operate a venture
      intended to develop the commercial application of recovering and processing
      concentrates into white titanium dioxide pigment and certain other titanium
      containing materials, using the proprietary processes and patents of Altairnano
      and the general process and engineering expertise of Sherwin; and 

     

    C.    In
      connection with the formation and operation of ALSHER, ALSHER desires, and
      Altairnano is willing to grant exclusive licenses in specified fields for its
      proprietary process for extracting titanium values from ore to produce
      TiO2
      and
      converting ore into titanium containing materials, and associated patents,
      on
      the terms and conditions set forth in this Agreement. 

    

    AGREEMENT

    

    In
      consideration of the mutual promises and covenants set
      forth
      below and other good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged, Altairnano
      and ALSHER hereby agree as follows:

    

    SECTION
      1.  DEFINITIONS

     

    1.1    All
      terms
      in this Agreement that are set forth with the first letter capitalized have
      the
      meanings given in Exhibit
      A
      attached
      hereto and incorporated herein by reference. 

     

    1.2    As
      used
      in this Agreement, (i) neutral pronouns and any derivations thereof shall be
      deemed to include the feminine and masculine and all terms used in the singular
      shall be deemed to include the plural and vice versa, as the context may
      require; (ii) the words “hereof”
and
      “hereunder”
and
      other words of similar import refer to this Agreement as a whole, including
      all
      exhibits, as the same may be amended from time to time, and not to any
      subdivision of this Agreement; (iii) the word “including”
is
      not
      intended to be exclusive and means “including without limitation”; (iv) the word
“days”
means
      “calendar days,” unless otherwise stated; and (iv) descriptive headings are
      inserted for convenience of reference only and do not constitute a part of
      and
      shall not be utilized in interpreting this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECTION
      2.  LICENSE
      GRANTS

     

    2.1    Grant
      to ALSHER.
      Subject
      to the terms of this Agreement, Altairnano hereby grants ALSHER an exclusive
      (even as to Altairnano and its Affiliates) license to practice the Licensed
      Intellectual Property during the Term only in the ALSHER Fields; provided,
      however, that if ALSHER does not or cannot fulfill its obligations to supply
      products under the Supply Agreement, either directly or through a sublicense
      in
      accordance with Section 2.4 below, after thirty days prior written notice from
      Altairnano and opportunity to cure, Altairnano or its Affiliates shall identify
      and provide ALSHER with sublicensing opportunities, upon which time ALSHER
      shall
      pursue such sublicensing opportunities and undertake best efforts to enter
      into
      sublicenses under commercially reasonable terms in order to comply with the
      terms of the Supply Agreement.

     

    2.2    Retained
      Rights of Altairnano.
      Without
      limiting the foregoing, no license or sublicense is conferred to ALSHER under
      the Licensed Intellectual Property to (i) develop, use, market, distribute,
      make, have made, sell, offer for sale, have sold, export or import or otherwise
      deal in or with any product or technology outside the ALSHER Fields; or (ii)
      market, distribute, sell, offer for sale, have sold, export or import any
      product or technology in the ALSHER Titanium Materials Field, except exclusively
      to Altairnano pursuant to the terms of the Supply Agreement. For the avoidance
      of doubt, Altairnano shall retain and reserves all rights that are not
      explicitly granted to ALSHER herein, including the sole and exclusive right
      to
      use and exploit Licensed Intellectual Property, including the right to grant
      licenses and sublicenses, exclusively or non-exclusively, to any Third Party
      (including any Affiliate of Altairnano) (a) for any use, purpose or application,
      including research, development, manufacture or commercialization of any
      product, process, item, device, machine or other apparatus, outside the ALSHER
      Fields; and (b) within the ALSHER Titanium Materials Field, other than the
      right
      to manufacture or have manufactured on its behalf in accordance with this
      Agreement, and sell exclusively to Altairnano pursuant to the terms of the
      Supply Agreement, for any use, purpose or application, including research,
      development or commercialization of any product, process, item, device, machine
      or other apparatus. 

     

    2.3    No
      Other Rights; No Implied Licenses.
      Except
      as expressly provided in this Agreement, under no circumstances shall a Party
      hereto, as a result of this Agreement, obtain any ownership interest, license
      or
      other right in any Know-How, patent rights, trademarks, copyrights or other
      proprietary information or intellectual property rights of the other Party
      and
      no rights or licenses with respect to any such intellectual property are granted
      or shall be deemed granted hereunder or in connection herewith except as
      expressly granted and provided in this Agreement.

     

    2.4    Sublicensing.
      ALSHER
      shall have no right to sublicense its rights under the licenses granted in
      Section 2.1 except in accordance with this Section 2.4. ALSHER may sublicense
      its right to practice the Licensed Intellectual Property in the ALSHER Titanium
      Materials Field. Any such sublicense entered into by ALSHER shall be subject
      to
      (i) all
      applicable terms and conditions of this Agreement, and (ii) the execution of
      a
      sublicense with each Third Party that includes provisions substantially similar
      to those herein that are sufficient to enable ALSHER to comply with its
      obligations hereunder and are at least as protective of Altairnano’s rights as
      provided herein.
      The
      execution of a subcontract by ALSHER hereunder shall not relieve ALSHER from,
      or
      diminish, any obligation of ALSHER under this Agreement. ALSHER shall promptly
      furnish Altairnano with a fully signed photocopy of any sublicense hereunder.
      All such sublicenses shall be assignable to Altairnano, and upon expiration
      or
      termination of this Agreement for any reason, all such sublicenses shall be
      assigned to Altairnano.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    SECTION
      3.  INTELLECTUAL
      PROPERTY

     

    3.1    Ownership;
      Modification of Licensed Patents.
      All
      Licensed Intellectual Property, whether or not patentable, shall be the property
      of Altairnano and Altairnano shall be the sole owner of the Licensed
      Intellectual Property. At any time during the Term, ALSHER may elect, upon
      giving written notice to Altairnano, to remove any patent or patent application
      from Exhibit
      B.
      Such
      written notice shall automatically amend Exhibit
      B
      to
      delete the identified patent or patent application and such identified patent
      or
      patent application shall no longer be considered Licensed Patents for any
      purposes of this Agreement. For the avoidance of doubt, upon removal of any
      patent or patent application from Exhibit
      B
      as
      provided in the preceding sentence, ALSHER shall have no further rights, license
      or obligations under or with respect to such removed patent or patent
      application, including under Section 2 or Section 4.2. Altairnano shall
      forthwith make available to ALSHER the Licensed Technology which Altairnano
      is
      at liberty to disclose. Such Licensed Technology furnished by Altairnano shall
      be subject to Section 5 (Confidentiality) and shall be used by ALSHER only
      in
      the ALSHER Fields.

     

    During
      the Term of this Agreement, Altairnano shall make available to ALSHER the
      services of a fully qualified and experienced member of its staff to advise
      ALSHER as to the methods and use of the Licensed Technology. 

     

    3.2    Licensed
      Improvements.
      Altairnano shall exclusively own all Licensed Improvements. ALSHER shall
      promptly disclose to Altairnano in writing the development, making, conception
      or reduction to practice of any Licensed Improvements, and ALSHER shall, and
      does hereby, assign, and shall cause its Affiliates and its and their employees
      and agents, as applicable, to so assign, to Altairnano, all right, title and
      interest in and to any such Licensed Improvements. Assignment and transfer
      of
      all such Licensed Improvements shall occur instantly and automatically upon
      the
      development, making, conception or reduction to practice of such Licensed
      Improvements, as the case may be, and shall not require any further deeds or
      documents to be exchanged between the Parties. All Licensed Improvements shall
      automatically be included within the scope of this Agreement. Any Licensed
      Improvements that are not covered or claimed by a patent or patent application
      and that are not generally known and are necessary for ALSHER to practice the
      Licensed Patents in the ALSHER Fields shall be considered Licensed Technology
      for all purposes of this Agreement. Any patents or patent applications to the
      extent covering Licensed Improvements shall be considered Licensed Patents
      for
      all purposes of this Agreement. For the avoidance of doubt, all Know-How that
      constitute(s) adaptations, advances, alterations, updates, modifications,
      enhancements, variations
      or
      improvements to any of the technology disclosed in any of the Licensed Patents
      shall be owned exclusively by Altairnano whether discovered, conceived, reduced
      to practice or otherwise developed by Altairnano or ALSHER.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3.3    Technology
      Improvements.
      Altairnano shall exclusively own all Technology Improvements. All Know-How
      that
      constitute(s) adaptations, advances, alterations, updates, modifications,
      enhancements, variations
      or
      improvements to any of the technology that is not expressly disclosed in any
      of
      the Licensed Patents shall be owned exclusively by Altairnano. Assignment and
      transfer of all such Technology Improvements shall occur instantly and
      automatically upon the development, making, conception or reduction to practice
      of such Technology Improvements, as the case may be, and shall not require
      any
      further deeds or documents to be exchanged between the Parties. All Technology
      Improvements shall automatically be included within the scope of this Agreement
      and shall be subject to the license set forth herein.

     

    3.4    Compensation
      Related to Assignment of Licensed Improvements.
      In
      consideration for ALSHER's assignment of all right, title and interest in and
      to
      any Licensed Improvements and Technology Improvements to Altairnano, Altairnano
      shall pay ALSHER royalties in the amount of the greater of 5% of Altairnano’s
      net sales price of the Altairnano product derived from the use of either
      Licensed Improvements or Technology Improvements or 10% of the gross margin
      of
      such a product for any use of either Licensed Improvements or Technology
      Improvements (i) outside the ALSHER Fields, and (ii) during the Term. For
      purposes of this section, “net sales price” means the invoiced sales price
      received by Altairnano based on actual sales less freight, trade discounts,
      distribution allowances shown on invoices, returns, taxes, duties or other
      governmental charges levied on or measured by the billing amount.

     

    3.5    Filing,
      Prosecution and Maintenance.
      Altairnano shall have the sole and exclusive right to prepare, file, and
      prosecute all Licensed Patents throughout the world and shall be responsible
      for
      activities related to conducting any interferences, reexaminations, reissues,
      oppositions, or requests for patent term extension relating to such Licensed
      Patents. All costs related to the aforementioned activities shall be shared
      by
      Altairnano and ALSHER, wherein seventy-five percent (75%) of such costs shall
      be
      borne by ALSHER and twenty-five percent (25%) of such costs shall be borne
      by
      Altairnano. 

     

    3.5.1    ALSHER
      shall, at
      the
      reasonable request of Altairnano, sign or have signed any and all documents
      necessary in connection with Altairnano’s filing, prosecution, maintenance,
      extension and enforcement of the Licensed Patents and to take such other actions
      as Altairnano may reasonably request from ALSHER in connection with the Licensed
      Patents, the expense for which shall be allocated in accordance with Section
      3.5.

     

    3.5.2    Altairnano
      shall
      immediately upon the execution of this Agreement
      and the grant of any of the Licensed Patents grant and enter
      with ALSHER into a license agreement in the form
      or
      substantially the form set out in Exhibit C which license
      shall be registered by ALSHER with such Patent Offices
      in the Territory as it considers appropriate. Until the grant of any such
      license so far as may be legally possible
      Altairnano and ALSHER shall have the same rights
      in
      respect of the Patents and be under the same obligations
      to each other in all respects as if the said license had been
      granted.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    3.5.3    Altairnano
      shall keep ALSHER apprised of any material and non-ministerial activities
      related to the Licensed Patents by providing ALSHER with copies of official
      actions, amendments, draft responses and responses with respect to Altairnano’s
      preparation, filing, prosecution and maintenance of the Licensed Patents, and
      Altairnano shall take into account ALSHER’s reasonable comments with respect to
      such activities. Other than considering ALSHER’s reasonable comments, Altairnano
      shall have sole discretion with respect to the preparation, filing, prosecution
      and maintenance of the Licensed Patents. 

     

    3.5.4    If
      Altairnano elects not to file, prosecute, maintain or extend any of the
patents
      that are
      included within the Licensed Patents, then Altairnano
      shall promptly (and in any event not less than sixty (60) calendar days prior
      to
      the deadline for taking appropriate action with respect to such patent)
      notify ALSHER of the
      same
      and
      ALSHER shall then have the right, but not the obligation, to assume the
      responsibility for preparing, filing, prosecuting and maintaining such
      patents
      at ALSHER’s sole expense and using counsel of its choosing. If ALSHER
elects
      to
      file and/or continue prosecution and/or maintenance of any such patent that
      Altairnano elects to discontinue, Altairnano shall execute such documents and
      perform such acts as may be reasonably necessary to permit ALSHER to file,
      prosecute and/or maintain such patent. Altairnano will provide ALSHER reasonable
      cooperation and will make available to ALSHER, at reasonable times and under
      appropriate conditions, access to relevant personnel, records, papers and the
      like in its possession necessary for ALSHER to file or prosecute such patent
      application and/or maintain such patent.
      If
      ALSHER elects
      to
      file and/or continue prosecution and/or maintenance of any such patent that
      Altairnano elects to discontinue, such patent shall remain a Licensed Patent
      for
      purposes of this Agreement.

     

    3.5.5    If
      an
      Event of Bankruptcy occurs relating to Altairnano, and Altairnano has failed,
      within thirty (30) days following the Event of Bankruptcy, to give ALSHER
      reasonably adequate assurances that it (or a third party on its behalf) is
      preparing, filing, prosecuting and maintaining the Licensed Patents, ALSHER
      shall have the right, upon notice in writing to Altairnano, to
      assume
      the responsibility for preparing, filing, prosecuting and maintaining the
      Licensed Patents at ALSHER’s sole expense and using counsel of its choosing.
If
      an
      Event of Bankruptcy occurs relating to Altairnano, and Altairnano has failed,
      within thirty (30) days following the Event of Bankruptcy, to give ALSHER
      reasonably adequate assurances that it (or a third party on its behalf) is
      adequately preserving and protecting the viability of the Licensed Intellectual
      Property, ALSHER
      shall have the right upon
      notice in writing to Altairnano to take all steps as it considers necessary
      in
      the circumstances to preserve and protect the viability of the Licensed
      Intellectual Property including without limitation to create and maintain
      current copies or, if not amenable to copying, descriptions or other appropriate
      embodiments, to the extent feasible, of all documents and records evidencing
      conception or reduction to practice of any invention claimed or disclosed in
      any
      Licensed Intellectual Property. 

     

    3.6    Infringement.
      If
      either Party becomes aware of any activity that such Party believes represents
      an infringement by a Third Party,
      anywhere in the world, of any
      Licensed
      Patents, the Party obtaining such knowledge shall promptly advise the other
      in
      writing of all relevant facts and circumstances pertaining to the potential
      infringement. Altairnano and ALSHER shall thereafter consult and cooperate
      fully
      to determine a course of action, including but not limited to, the commencement
      of legal action to terminate any infringement of the Licensed
      Patents.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    3.6.1    In
      the
      ALSHER TiO2
      Pigment
      Field, ALSHER shall have the first right, but not the obligation, to institute
      and control an action, in its name and at its sole expense, against such Third
      Party for infringement of any Licensed Patents, and Altairnano shall cooperate
      with ALSHER in such action at the expense of ALSHER. If
      ALSHER
      finds it necessary or desirable to join Altairnano as a party to such action,
      Altairnano will execute all papers and perform any other acts as may be
      reasonably required by ALSHER, at the expense of ALSHER. ALSHER
      shall have the right to control, with such cooperation by Altairnano as is
      reasonably required by ALSHER at ALSHER’S expense, any claim by a Third Party
      asserting invalidity of any Licensed Patents. If ALSHER elects not to institute
      and control such action against a Third Party for infringement of any of the
      Licensed Patents, Altairnano shall have the right, but not the obligation,
      to
      institute and control such action at its own expense. Neither Party shall incur
      any liability to the other Party as a consequence of such litigation or any
      unfavorable decision resulting therefrom, including any decision holding any
      of
      the Licensed Patents invalid or unenforceable.

     

    3.6.2    Outside
      of the ALSHER TiO2
      Pigment
      Field, Altairnano shall have the first right, but not the obligation, to
      institute and control an action, in its name and at its sole expense, against
      such Third Party for infringement of any Licensed Patents, and ALSHER shall
      cooperate with Altairnano in such action at the expense of Altairnano.
If
      Altairnano finds it necessary or desirable to join ALSHER as a party to such
      action, ALSHER will execute all papers and perform any other acts as may be
      reasonably required by Altairnano, at the expense of Altairnano. Altairnano
      shall have the right to control, with such cooperation by ALSHER as is
      reasonably required by Altairnano at Altairnano's expense, any claim by a Third
      Party asserting invalidity of any Licensed Patents. If Altairnano elects not
      to
      institute and control such action against a Third Party for infringement of
      any
      of the Licensed Patents, ALSHER shall have the right, but not the obligation,
      to
      institute and control such action at its own expense. Neither Party shall incur
      any liability to the other Party as a consequence of such litigation or any
      unfavorable decision resulting therefrom, including any decision holding any
      of
      the Licensed Patents invalid or unenforceable. 

     

    3.6.3    The
      Party
      initiating and controlling a litigation action against a Third Party infringer
      under Section 3.6.1 or 3.6.2 shall (a) control all aspects of such action,
      including the right to enter into any settlement, consent judgment or other
      voluntary final disposition respecting such action; provided that no settlement
      shall be entered into by such Party without the written consent of the other
      Party if such settlement would materially detrimentally affect the other Party’s
      interests hereunder, (b) bear all costs and attorneys’ fees respecting such
      action, and (c) be entitled to all litigation or settlement recoveries received
      (including without limitation all amounts received under any applicable license
      or sublicense agreement(s) entered into between the Third Party and the Party
      initiating and controlling such action).

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    3.6.4    Notwithstanding
      the foregoing, Altairnano and ALSHER may agree to institute an infringement
      action against a Third Party jointly, in which case the suit shall be brought
      in
      both of their names, the reasonable and documented out-of-pocket costs thereof
      shall be borne equally (50% each) by the Parties and any recovery or settlement
      shall be allocated first to reimburse the Parties for their out-of-pocket costs
      and the remainder shall be shared fifty percent (50%) to Altairnano and fifty
      percent (50%) to ALSHER. Altairnano and ALSHER shall work together to manage
      such joint litigation, with Altairnano having the primary responsibility for
      controlling such suit. ALSHER may, if it so desires, also be represented by
      separate counsel of its own selection, and the fees for such counsel shall
      be
      paid by ALSHER.

     

    3.7    Defense
      and Settlement of Third Party Claims.
      If a
      Third Party asserts that the use or application of the Licensed Intellectual
      Property in the ALSHER Fields infringes or induces or contributes to
      infringement of a patent or other intellectual property right owned by such
      Third Party (“Third
      Party Infringement Action”),
      the
      Party first having notice of a Third Party Infringement Action shall promptly
      notify the other Party in writing. Such written notice shall set forth the
      facts
      of the Third Party Infringement Action in reasonable detail. ALSHER shall have
      the first right, but not the obligation, to control the defense of the Third
      Party Infringement Action in the ALSHER TiO2
      Pigment
      Field at its own expense and, subject to the remainder of this Section 3.7,
      shall have the right to enter into any settlement, consent judgment or other
      voluntary final disposition respecting such Third Party Infringement Action,
      including the right to obtain a license from such Third Party. If ALSHER elects
      not to assume control of the defense of such action, Altairnano shall have
      the
      right, but not the obligation, to control such defense at its own expense and,
      subject to the remainder of this Section 3.7, shall have the right to enter
      into
      any settlement, consent judgment or other voluntary final disposition respecting
      such Third Party Infringement Action, including the right to obtain a license
      from such Third Party. Altairnano shall have the first right, but not the
      obligation, to control the defense of the Third Party Infringement Action
      outside of the ALSHER TiO2
      Pigment
      Field at its own expense and, subject to the remainder of this Section 3.7,
      shall have the right to enter into any settlement, consent judgment or other
      voluntary final disposition respecting such Third Party Infringement Action,
      including the right to obtain a license from such Third Party. If Altairnano
      elects not to assume control of the defense of such action, ALSHER shall have
      the right, but not the obligation, to control such defense at its own expense
      and, subject to the remainder of this Section 3.7, shall have the right to
      enter
      into any settlement, consent judgment or other voluntary final disposition
      respecting such Third Party Infringement Action, including the right to obtain
      a
      license from such Third Party. The
      Party
      not controlling such defense will have the right to be represented in any such
      Third Party Infringement Action at its own expense. The Party controlling such
      defense shall keep the other Party advised of the status of such Third Party
      Infringement Action and shall consider recommendations made by the other Party
      in respect thereto. The Party not controlling such defense will assist and
      cooperate in any such Third Party Infringement Action at the defending Party’s
      reasonable request and expense. If the Party controlling such defense is not
      the
      Party against whom such Third Party Infringement Action was originally brought,
      then the Party controlling such defense shall not agree to the settlement of
      such action without the prior written consent of the other Party.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    SECTION
      4.  CONFIDENTIALITY

     

    4.1    Obligations
      Regarding Confidential Information.
      The
      Receiving Party shall not use any Confidential Information provided by the
      Disclosing Party except as necessary for the Receiving Party to exercise its
      rights or perform its obligations under this Agreement. The Receiving Party
      shall not disclose Confidential Information provided by the Disclosing Party
      to
      others (except to its employees, consultants, agents and Affiliates who
      reasonably require disclosure of such Confidential Information to enable the
      Receiving Party to exercise its rights or perform its obligations hereunder
      and
      who are bound to the Receiving Party by like obligations as to confidentiality
      no less stringent than those set forth herein) without the prior written
      permission of the Disclosing Party. The Receiving Party shall treat all
      Confidential Information with the same degree of care as the Receiving Party
      accords its own information or materials of a similar nature, but in no case
      less than reasonable care. The Receiving Party shall not copy any Confidential
      Information except as necessary to enable the Receiving Party to use
      Confidential Information as permitted hereunder, and shall ensure that each
      such
      copy shall contain and state the same confidential or proprietary notices or
      legends which appear on the original. The Receiving Party shall immediately
      give
      notice to the Disclosing Party of, and shall assist the Disclosing Party in
      remedying, any unauthorized use or disclosure of Confidential Information.
      Neither Party shall communicate any information or materials to the other in
      violation of the proprietary rights of any Third Party.

     

    4.2    Authorized
      Disclosure.
      Notwithstanding the foregoing Section 4.1, the Receiving Party may disclose
      Confidential Information of the Disclosing Party to the extent such disclosure
      is reasonably necessary to comply with applicable governmental laws and
      regulations, court orders or other legal requirements; provided that the
      Receiving Party shall give reasonable advance notice to the Disclosing Party
      of
      such disclosure and shall seek confidential treatment of such Confidential
      Information to the fullest extent possible and/or shall use reasonable efforts
      to cooperate with the Disclosing Party in its efforts to secure confidential
      or
      protective treatment of such Confidential Information. 

     

    4.3    Terms
      of this Agreement.
      Neither
      Party may disclose to any Third Party the terms and conditions of this Agreement
      without the other Party's prior written consent, except:
      (i) as
      required by any court or other governmental body or as otherwise required by
      law; (ii) in connection with the requirements of a public offering or
      securities filing, provided the disclosing
      Party
      shall endeavor to obtain confidential treatment of financial and trade secret
      information contained herein;
      (iii) under appropriate conditions of confidentiality, to subcontractors,
      accountants, legal counsel, banks, existing or potential investors or other
      financing sources and their advisors; or (iv) under appropriate conditions
      of confidentiality, in connection with a merger or acquisition or proposed
      merger or acquisition, or the like. Notwithstanding the foregoing, the
      disclosing Party shall notify the other Party prior to making any disclosure
      under subsections (iii) or (iv) of (a) any detailed terms of this Agreement
      (other than information about the existence or general scope of this Agreement)
      or (b) any copies of this Agreement without redacting, at a minimum, all
      economic terms. 

     

    4.4    Public
      Announcements.
      All
      press releases or other public announcements by either Party relating to this
      Agreement or the subject matter hereof shall be approved in writing in advance
      by each Party, which approval shall not be unreasonably withheld, conditioned
      or
      delayed; provided that this shall not restrict a Party’s obligation to comply
      with applicable legal disclosure obligations (subject to and in accordance
      with
      Section 4.2). 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    4.5    Publications.
      Altairnano acknowledges ALSHER’s interest in publishing information concerning
      Licensed Improvements to obtain recognition within the scientific community
      and
      to advance the state of scientific knowledge. ALSHER recognizes the interest
      of
      Altairnano in obtaining valid patent protection for the Licensed Improvements.
      Not later than forty-five (45) days prior to the first submission for
      publication (in the case of written publications) or to the submission of an
      abstract to the organizers of a forum (in the case of an oral presentation
      to be
      made at the forum) which contains any information concerning Licensed
      Improvements, ALSHER shall submit to Altairnano for review an advance draft
      (for
      written publications) and an abstract (for oral presentation). If, within
      fifteen (15) days of receipt of the advance copy of ALSHER’S proposed written
      publication or abstract of a proposed oral presentation, Altairnano informs
      ALSHER that its proposed publication or presentation reasonably could be
      expected to have a material adverse effect on Altairnano’s ability to file new
      patents based on information concerning Licensed Improvements disclosed therein,
      then ALSHER shall either remove from such publication or abstract, and not
      otherwise present, the information reasonably expected to have a material
      adverse effect on patentability or delay such proposed publication or
      presentation for a period of up to sixty (60) days (or such longer period of
      time as may be agreed upon by the Parties in writing) to allow for preparation
      and filing of patent application(s) based on such information concerning
      Licensed Improvements.

     

    4.6    Return
      of Confidential Information.
      Confidential Information shall remain the property of the Disclosing Party.
      Upon
      expiration or earlier termination of this Agreement, the Receiving Party shall
      immediately cease to use the Disclosing Party’s Confidential Information and, at
      the Disclosing Party’s option, either return to the Disclosing Party or destroy
      all data,
      drawings, memoranda, notes and other written materials (including
      summaries, records, descriptions, modifications, drawings and adaptations that
      have been made from any such materials), together
      with any magnetic media and computer stored information, including any copies
      thereof,
      embodying or containing any of the Disclosing Party’s Confidential Information
      in the possession or control of the Receiving Party or its Affiliates,
      consultants or agents; provided, however, that one (1) copy of such Confidential
      Information may be retained on a confidential basis for archival purposes only.
      Any destruction pursuant to the preceding sentence shall be promptly confirmed
      in writing. The return or destruction of Confidential Information as provided
      herein shall not relieve the Receiving Party of its obligations under this
      Agreement.

     

    4.7    Remedies.
      Each
      Party shall be entitled, in addition to any other right or remedy it may have
      at
      law or in equity, to seek an injunction in any court of competent jurisdiction,
      without the need to post a bond, enjoining or restraining the other Party from
      any violation or threatened violation of this Section 4.

     

    
      
        
        

      

      
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    SECTION
      5.  REPRESENTATIONS
      AND WARRANTIES

     

    5.1    Representations
      and Warranties.
      Each of
      the Parties hereby represents and warrants to the other Party as follows, all
      such representations and warranties being as of the Effective Date of this
      Agreement:

     

    5.1.1    it
      is
      duly organized and validly existing under the laws of its jurisdiction of
      organization, and has full power and authority to enter into this Agreement
      and
      perform its obligations under this Agreement;

     

    5.1.2    it
      has
      taken all action necessary for the lawful execution, delivery and performance
      of
      this Agreement, the person executing this Agreement on its behalf has been
      duly
      authorized to do so by all requisite corporate action, and this Agreement is
      legally binding upon it and enforceable in accordance with its
      terms;

     

    5.1.3    the
      execution, delivery and performance of this Agreement by it do not violate,
      conflict with or constitute a default under any agreement or instrument
      (including its corporate charter or other organizational documents) to which
      it
      is a party or by which it may be bound, or, to its Knowledge, any applicable
      law, regulation or order of any court or other tribunal; and

     

    5.1.4    it
      shall
      and shall cause its permitted subcontractors to, comply with all laws, rules
      and
      regulations applicable to the performance of its obligations hereunder.

     

    5.2    Additional
      Representation and Warranty of Altairnano.
      Altairnano represents and warrants to ALSHER and to Sherwin, as a third party
      beneficiary, that, as of the Effective Date:

     

       5.2.1    it
      has
      the legal and/or beneficial right and interest to grant to ALSHER the licenses
      granted in this Agreement.

     

    5.2.2    the
      details listed in Exhibit B are true, complete and accurate;

     

    5.2.3    to
      Altairnano’s Knowledge, all products and processes which are necessary to
      perform the Licensed Intellectual Property are disclosed in the patents and
      patent applications listed in Exhibit B; 

     

    5.2.4    all
      fees
      due up to the Effective Date for the prosecution and maintenance of the Licensed
      Patents (including any application fees) in the United States, and to
      Altairnano’s Knowledge, in all applicable foreign jurisdictions, have been paid
      in full;

     

    5.2.5    neither
      Altairnano nor any of its Affiliates have Knowledge of any reason why the
      applications forming part of the Licensed Patents should not proceed to
      grant;

     

    5.2.6    none
      of
      the Licensed Patents is the subject of any current or, to Altairnano’s
      Knowledge, threatened, claim, opposition, proceedings or attack in relation
      to
      its validity or revocability or enforceability or as to Altairnano's rights
      of
      ownership thereto or rights to use such (whether such claims are by employees,
      ex-employees or other third parties) or applications for licenses of right
      and
      to Altairnano’s Knowledge, there are no facts or matters which might give rise
      to any such claim, opposition, proceedings or attack;

     

    
      
        
        

      

      
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    5.2.7    neither
      Altairnano nor any of its Affiliates have made or raised, or is involved in,
      any
      oppositions, claims or proceedings challenging the rights of any third party
      to
      obtain registration of any intellectual property rights or the entitlement
      of
      any third party to any registered intellectual property rights or the validity
      or enforceability of any intellectual property rights registered in the name
      of
      a third party relating to the Licensed Intellectual Property in the ALSHER
      Fields;

     

    5.2.8    Except
      as
      described in Section 2.1, neither Altairnano nor any of its Affiliates have
      granted any licenses or permissions allowing any third party to exploit or
      use
      the Licensed Intellectual Property in the ALSHER Fields and no third party
      has
      any option or other right to require that Altairnano or any of its Affiliates
      grant it such license or permission in the ALSHER Fields;

     

    5.2.9    there
      are
      no agreements or arrangements (i) which prevent, restrict or otherwise inhibit
      Altairnano's freedom to use, exploit, license, sub-license, transfer or assign
      the Licensed Intellectual Property for use in the ALSHER Fields or (ii) under
      which Altairnano or any of its Affiliates have granted any third party rights
      in
      (including any rights to obtain an assignment, license or other rights in the
      future or on the happening of any event), or options over, any of the Licensed
      Intellectual Property for use in the ALSHER Fields;

     

    5.2.10   to
      Altairnano’s Knowledge, use of the Licensed Intellectual Property in accordance
      with the terms of this Agreement will not infringe any patent or other
      intellectual property rights of any third party;

     

    5.2.11   the
      Licensed Intellectual Property is free from any charges and encumbrances in
      favor of third parties; and

     

    5.2.12   to
      Altairnano’s Knowledge, no third party is infringing the Licensed Intellectual
      Property.

     

    5.3    Limitations.
      Neither
      Party warrants or represents, and nothing in this Agreement shall be construed
      as a warranty or representation by either Party:

     

    5.3.1    as
      to the
      validity, scope or enforceability of any patent within the Licensed Patents;
      

     

    5.3.2    that
      anything developed, made, used, sold, offered for sale, imported or otherwise
      created, conceived or disposed of under any license granted hereunder is or
      shall be free from infringement or violation of any patent or other intellectual
      property rights of Third Parties; or

     

    5.3.3    that
      either Party will bring or agrees to bring or prosecute actions or suits against
      Third Parties for infringement of any patent within the Licensed
      Patents.

     

    
      
        
        

      

      
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    5.4    No
      Other Representations.
      EXCEPT
      AS EXPRESSLY SET FORTH IN SECTION 5.1 and 5.2, NEITHER ALTAIRNANO NOR ALSHER
      MAKES ANY REPRESENTATION OR EXTENDS ANY WARRANTY OF ANY KIND, WHETHER EXPRESS,
      IMPLIED, STATUTORY OR OTHERWISE, AND EACH PARTY HEREBY DISCLAIMS ALL IMPLIED
      WARRANTIES, INCLUDING WITHOUT LIMITATION ANY WARRANTIES OF MERCHANTABILITY
      OR
      FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT OF THIRD PARTY RIGHTS OR
      TITLE. WITHOUT LIMITING THE FOREGOING AND SUBJECT TO THE EXPRESS PROVISIONS
      OF
      THIS AGREEMENT, ALL LICENSES GRANTED BY ALTAIRNANO ARE GRANTED “AS IS,” AND EACH
      PARTY HEREBY DISCLAIMS ANY REPRESENTATION, WARRANTY OR GUARANTEE THAT THE
      PROCESSING, PRODUCTION OR MANUFACTURE OF WHITE TITANIUM DIOXIDE PIGMENT
      HEREUNDER WILL BE SUCCESSFUL, IN WHOLE OR IN PART.

     

    SECTION
      6.  LIMITATION
      OF LIABILITY

     

    6.1    No
      Indirect Damages.
      NEITHER
      PARTY SHALL HAVE ANY LIABILITY UNDER THIS AGREEMENT FOR ANY INCIDENTAL,
      CONSEQUENTIAL, SPECIAL, PUNITIVE OR INDIRECT DAMAGES OR LIABILITIES, INCLUDING
      WITHOUT LIMITATION SUCH DAMAGES OR LIABILITIES FOR LOSS OF REVENUE, LOSS OF
      BUSINESS, FRUSTRATION OF ECONOMIC OR BUSINESS EXPECTATIONS, LOSS OF PROFITS,
      OR
      COST OF CAPITAL, REGARDLESS OF THE FORM OF THE ACTION, WHETHER IN CONTRACT
      OR
      OTHERWISE, EVEN IF A PARTY HERETO HAS BEEN ADVISED OF THE POSSIBILITY OF
      SUCH DAMAGES. 

     

    SECTION
      7.   TERM
      AND TERMINATION

     

    7.1    Term.
      The
      term of this Agreement (“Term”)
      shall
      commence on the Effective Date and shall remain in effect (a) with respect
      to
      the Licensed Patents, until the earlier of (i) on a country by country basis,
      the last to expire Valid Claim of the Licensed Patents or (ii) the dissolution
      of ALSHER in accordance with the terms of the Limited Liability Company
      Agreement, and (b) with respect to the Licensed Technology, until dissolution
      of ALSHER in accordance with the terms of the Limited Liability Company
      Agreement. 

     

    7.2    Termination
      for Breach. If
      either
      Party (the “Breaching
      Party”)
      materially breaches any of its representations, warranties, covenants or
      obligations under this Agreement, the other Party (the “Non-Breaching
      Party”)
      shall
      have the right, at its sole election, to terminate this Agreement upon providing
      ninety (90) days’ (or forty-five (45) days’ in the case of breach for
      non-payment) written notice to the Breaching Party, such notice specifying
      the
      alleged breach in reasonable detail; provided, however, that if the Breaching
      Party shall cure the breach within the ninety (90) or forty-five (45) day
      period, as applicable, this Agreement shall continue in full force and effect.
      Notwithstanding the foregoing, in the event the Breaching Party disputes in
      good
      faith the existence of a breach under this Agreement, the Non-Breaching Party
      shall not have the right to terminate this Agreement unless and until the
      dispute is resolved in the Non-Breaching Party’s favor (i.e. a final
      determination that the Breaching Party has materially breached this Agreement
      and has failed to cure such breach) through the dispute resolution provisions
      of
      Section 8. All amounts not in dispute shall continue to be timely
      paid.

     

    
      
        
        

      

      
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    7.3    Termination
      for Bankruptcy.
      If
      at any
      time during the Term, an Event of Bankruptcy relating to ALSHER
      occurs,
Altairnano
      shall
      have, in addition to all other legal and equitable rights and remedies available
      hereunder, the option to terminate this Agreement upon thirty (30) days’ written
      notice to ALSHER. Notwithstanding
      the foregoing, the Parties agree that the licenses granted by Altairnano to
      ALSHER under Section 2.1 of this Agreement are, and shall otherwise be deemed
      to
      be, for purposes of 11
      U.S.C.
§365(n) of the United States Bankruptcy Code (the “Code”),
      licenses
      of rights to “intellectual property” as defined under the Code, and that ALSHER,
      as licensee of such intellectual property from Altairnano, shall retain and
      may
      fully exercise all of its rights and elections under the Code. Altairnano shall
      use reasonable efforts during the term of this Agreement to create and maintain
      current copies or, if not amenable to copying, descriptions or other appropriate
      embodiments, to the extent feasible, of all documents and records evidencing
      conception or reduction to practice of any invention claimed or disclosed in
      any
      Licensed Intellectual Property. 

     

    7.4    Mutual
      Agreement.
      The
      Parties may terminate this Agreement, in whole or in part, at any time upon
      mutual written agreement pursuant to the Limited Liability Company
      Agreement.

     

    7.5    Effect
      of Termination.
      The
      Parties rights upon termination of this Agreement shall be set forth in Section
      12.04 of the Limited Liability Company Agreement.

     

    7.6    Accrued
      Obligations, Survival.
      Expiration or termination of this Agreement shall not relieve the Parties of
      any
      obligation accruing before such expiration or termination, including, without
      limitation, the obligation to make payments in connection with activities
      commenced or performed before such expiration or termination. The provisions
      of
      Sections 4.1, 4.2, 5, 7, 8, and 9 and Exhibit
      A
      to the
      extent definitions are embodied in the preceding listed Sections, shall survive
      the expiration or termination of this Agreement. Any expiration or termination
      of this Agreement shall be without prejudice to the rights of either Party
      against the other Party accrued or accruing under this Agreement before
      expiration or termination.

     

    SECTION
      8.  DISPUTE
      RESOLUTION 

     

    8.1    Negotiation.
      The
      Parties shall attempt in good faith to resolve any and all disputes that arise
      between them promptly, voluntarily and amicably. 

     

    SECTION
      9.  GENERAL
      PROVISIONS

     

    9.1    Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware, without reference to conflict of laws rules and provisions.
      Subject to Section 8, each Party hereby irrevocably consents to the exclusive
      jurisdiction and venue of the courts of Delaware in connection with any action
      or proceeding brought by either Party against the other Party arising out of
      or
      relating to this Agreement.

     

    9.2    Notices.
      All
      notices, requests, consent and other communications given or made by a
      Party under this Agreement shall be in writing and shall be deemed given
      (i) three (3) days after mailing when mailed (by registered or certified
      mail, postage paid, only), (ii) on the date sent when made by facsimile
      transmission with confirmation of receipt, or (iii) on the date received
      when delivered in person or by overnight commercial courier.
      All
      notices shall be provided to the address set forth below or such other
      place as such Party may from time to time designate in writing. Each Party
      may alter its address set forth below by notice in writing to the other
      Party.

     

    
      
        
        

      

      
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              Altairnano:

            	
              Altairnano,
                Inc.

              204
                Edison Way

              Reno,
                NV 89502

               

              Fax:
                (775) 858-3731

              Attn:
                Alan Gotcher

            
	 	 
	
              ALSHER:

            	
              AlSher
                Titania, LLC

              204
                Edison WayReno, NV 89502

              Fax:
                (775) 856-1619

              Attn:
                President 

            

    

     

    9.3    Export
      Controls.
      This
      Agreement is made subject to any restrictions concerning the export of materials
      and intellectual property from the United States which may be imposed upon
      or
      related to either Party from time to time by the Government of the United
      States. Without limiting the foregoing, neither Party or
      its
      Affiliates
      will
      export, directly or indirectly, any intellectual property of the other Party
      or
      any product utilizing such intellectual property to any countries for which
      the
      United States Government or any agency thereof at the time of export requires
      an
      export license or other governmental approval, without first obtaining the
      written consent to do so from the Department of Commerce or other agency of
      the
      United States Government when required by applicable statute or
      regulation.

     

    9.4    Force
      Majeure.
      Neither
      Party shall be held liable or responsible to the other Party nor be deemed
      to
      have defaulted under or breached this Agreement for failure or delay in
      fulfilling or performing any term of this Agreement, other than an obligation
      to
      make a payment, when such failure or delay is caused by or results from fire,
      floods, embargoes, government regulations, prohibitions or interventions, war,
      acts of war (whether war be declared or not), insurrections, riots, civil
      commotions, strikes, lockouts, acts of God, or any other cause beyond the
      reasonable control of the affected Party
      and
      without such Party’s fault or negligence; provided that the affected Party
      notifies the unaffected Party as soon as reasonably possible, and resumes
      performance hereunder as soon as reasonably possible following cessation of
      such
      force majeure event.

     

    9.5    Relationship
      between the Parties.
      The
      relationship between the Parties is solely that of independent contractors.
      Neither Party nor its employees, agents or representatives shall be considered
      agents, partners, franchisees, employees, owners, or representatives of the
      other Party, or parties to a joint venture. Neither Party has the authority,
      and
      neither Party shall act or represent itself, directly or by implication, as
      having the authority to bind or create any obligation or liability on behalf
      of
      the other Party. 

     

    
      
        
        

      

      
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    9.6    Partial
      Invalidation of Licensed Patents.
      The
      validity of this Agreement shall not be affected by the fact that one or more
      of
      the Licensed Patents or any claim therein should finally be declared
      invalid. 

     

    9.7    Expenses.
      Except
      as otherwise expressly provided herein, each of the Parties shall pay its own
      fees and expenses, including any legal and accountants’ fees, incurred by it in
      connection with the preparation or performance of this Agreement. 

     

    9.8    Assignment.
      Neither
      Party shall assign or transfer this Agreement, or any rights or obligations
      under this Agreement, without the prior written consent of the other Party,
      and
      any attempt to do so without such consent will be void. Notwithstanding
      anything in this Agreement, however, either Party may, with written notice
      to the other Party but without the other Party’s consent, assign or transfer
      this Agreement and its rights and obligations hereunder to a successor of all
      or
      substantially all of such Party’s assets, stock or business to which this
      Agreement relates (whether by sale, acquisition, merger, operation of law or
      otherwise), so long as such successor shall assume (expressly in writing or
      by operation of law) the performance of all of the terms of this Agreement.
      This Agreement shall be binding upon and inure to the benefit of the Parties
      and
      their respective permitted successors and permitted assigns.

     

    9.9    Severability.
      If one
      or more provisions in this Agreement are ruled entirely or partly invalid or
      unenforceable by any court or governmental authority of competent jurisdiction,
      then: (i) all provisions not ruled to be invalid or unenforceable shall remain
      unaffected; (ii) the effect of such ruling shall be limited to the
      body making the ruling; and (iii) the provision(s) held wholly or
      partly invalid or unenforceable shall be deemed amended, and the Parties shall
      reform the provision(s) to the minimum extent necessary to render them valid
      and
      enforceable in conformity with the Parties’ intent as manifested
      herein.

     

    9.10   Amendment;
      Waiver.
      This
      Agreement may be amended, modified or supplemented only by a writing that
      is signed by duly authorized representatives of both Parties and that
      specifically identifies the provision or provisions of this Agreement being
      amended, modified or supplemented. No term or provision hereof will be
      considered waived by either Party, and no breach excused by either Party,
      unless such waiver or consent is in writing signed on behalf of the Party
      against whom the waiver is asserted. Without limiting the foregoing, no
      consent by either Party to, or waiver of, a breach by either Party, whether
      express or implied, will constitute a consent to, waiver of, or excuse of
      any other, different, or subsequent breach by either Party.

     

    9.11   Representation
      by Legal Counsel.
      Each
      Party represents that it has been represented by legal counsel in connection
      with the negotiation and drafting of this Agreement and acknowledges that it
      has
      participated in the drafting hereof. In interpreting and applying the terms
      and
      provisions of this Agreement, the Parties agree that no presumption
      shall exist or be implied against the Party that drafted such terms and
      provisions.

     

    
      
        
        

      

      
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    9.12    Counterparts;
      Facsimile Signatures.
      This
      Agreement may be executed by original or facsimile signature in
      two counterparts, each of which shall be deemed an original, but both of
      which together shall constitute one and the same instrument. If this
      Agreement is executed in counterparts, no signatory hereto shall be bound
      until both Parties have duly executed or caused to be duly executed (by original
      or facsimile signature) a counterpart of this Agreement. Notwithstanding
      the foregoing, the Parties shall deliver original execution copies of this
      Agreement to one another as soon as practicable following execution
      thereof.

     

    9.13    Entire
      Agreement.
      This
      Agreement, including all exhibits to this Agreement which are hereby
      incorporated herein, constitutes the entire agreement between the Parties
      relating to the subject matter hereof and supersedes all prior or
      simultaneous representations,
      discussions, proposals, negotiations, letters of intent, and
      agreements,
      whether
      oral, written or based on a course of dealing or performance, with respect
      to
      the subject matter hereof. 

     

    9.14    Further
      Actions.
      Each
      Party agrees to execute, acknowledge, and deliver such further instruments
      and
      to do all such other acts, as may be necessary or appropriate to carry out
      the
      purposes and intent of this Agreement.

     

    [Signatures
      on Next Page]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF,
      duly
      authorized representatives of the Parties have duly executed and delivered
      this
      License Agreement on the dates set forth below to be effective as of the
      Effective Date. 

     

    
      	
              ALTAIRNANO,
                INC.

            	
              ALSHER
                TITANIA, LLC

            
	
               

               

              By:
                /s/___________________________________

            	
               

               

              By:
                /s/_______________________________

            
	
              Name:

              Title:
                 

               

              Date:
                April
                24,
                2007                                                           

            	
              Name: 

              Title:
                 

               

              Date:
                April
                24,
                2007                                                  

            

    

     

    
      
        
        

      

      
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    EXHIBIT
      A

    DEFINITIONS

     

    As
      used
      in this Agreement, the following capitalized terms shall have the following
      meanings:

     

    1.1    “Affiliate”
shall
      mean a corporation, partnership, trust or other entity that directly, or
      indirectly through one or more intermediaries, controls, is controlled by or
      is
      under common control with a Party to this Agreement. For such purposes,
“control” or “controlled by” and “under common control with” shall mean the
      possession of the power to direct or cause the direction of the management
      and
      policies of an entity, whether through the ownership of voting stock or
      partnership interest, by contract or otherwise. In the case of a corporation,
      the direct or indirect ownership of more than fifty percent (50%) of its
      outstanding voting shares shall in any event be deemed to confer control, it
      being understood that the direct or indirect ownership of a lesser percentage
      shall not necessarily preclude the existence of control.

     

    1.2    “ALSHER
      Fields”
means
      collectively the ALSHER TiO2
      Pigment
      Field and the ALSHER Titanium Materials Field.

     

    1.3    “ALSHER
      TiO2
      Pigment Field”
shall
      mean all uses and applications of the Licensed Intellectual Property in the
      processing, production, manufacture of, and sale of white titanium dioxide
      pigment.

     

    1.4    “ALSHER
      Titanium Materials Field”
shall
      mean (i) all uses and applications of the Licensed Intellectual Property in
      the
      processing, production, manufacture of, and manufacture of on its behalf, any
      titanium -containing material outside of the ALSHER TiO2
      Pigment
      Field, other than any battery or nano electrode materials (including, without
      limitation, lithium titanates); and (ii) all uses and applications of the
      Licensed Intellectual Property in the sale of any titanium-containing material
      outside of the ALSHER TiO2
      Pigment
      Field, other than any battery or nano electrode materials (including, without
      limitation, lithium titanates), exclusively to Altairnano pursuant to the terms
      of the Supply Agreement. 

     

    1.5    “AHPP”
or
      “Altairnano
      Hydrochloric Pigment Process”
means
      the proprietary process that extracts titanium values from ore to produce
      pigment grade and other high quality TiO2
      and
      other titanium containing materials. Various portions of the AHPP are disclosed
      in the Licensed Patents. The AHPP does not include any product or process
      disclosed in any Altairnano patent or patent application not referenced on
      Exhibit B or any proprietary process related thereto.

     

    1.6    “Agreement”
means
      this License Agreement, together with all exhibits annexed hereto, as the same
      may be modified (in accordance with the terms hereof) and in effect from time
      to
      time.

     

    1.7    “Confidential
      Information”
shall
      mean all Know-How and other non-public and proprietary materials, products,
      processes or information, including, without limitation, information relating
      to
      Licensed Patents, research, development, product plans, experiments, results,
      manufacturing processes, manufacturing and operating costs, products, services,
      customers, markets, software, hardware, marketing, financial, regulatory,
      personnel and other business information and plans, that is, was or are
      disclosed or supplied by a Party (the “Disclosing Party”)
      to the
      other Party (the “Receiving
      Party”)
      in
      connection with this Agreement, and any and all Licensed Improvements or
      Technology Improvements, whether in oral, written, graphic or electronic form
      and whether in existence as of the Effective Date or developed or acquired
      in
      the future. Confidential Information that is disclosed in a writing or other
      tangible medium must be designated in writing, or marked, as confidential or
      proprietary, and Confidential Information that is disclosed orally, visually,
      or
      in other intangible medium, must be confirmed in writing as confidential or
      proprietary within thirty (30) days after the first disclosure to the Receiving
      Party. Notwithstanding the foregoing, Confidential Information shall not include
      any part of the foregoing that:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.7.1    was
      already known to the Receiving Party as evidenced by the Receiving Party’s
      competent, contemporaneous written records, other than any portion of such
      information that was under an obligation of confidentiality at the time of
      its
      disclosure;

     

    1.7.2    was
      generally available to the public or was otherwise part of the public domain
      at
      the time of disclosure of such information to the Receiving Party;

     

    1.7.3    became
      generally available to the public or otherwise becomes part of the public domain
      after disclosure of such information to the Receiving Party, other than by
      breach of this Agreement by the Receiving Party or by anyone to whom the
      Receiving Party disclosed such information;

     

    1.7.4    was
      subsequently lawfully disclosed to the Receiving Party by a Third Party other
      than in breach of a confidentiality obligation of such Third Party to the
      Disclosing Party; or

     

    1.7.5    was
      independently developed or discovered by employees of the Receiving Party who
      had no access to the Confidential Information of the Disclosing Party and did
      not make use of the Confidential Information of the Disclosing Party, as
      demonstrated by competent, contemporaneous written records.

     

    1.8    “Controlled”
shall
      mean the legal authority or right of a Party to grant a license or sublicense
      of
      intellectual property rights to the other Party, without breaching the terms
      of
      any agreement with a Third Party, infringing upon the intellectual property
      rights of a Third Party, or misappropriating the proprietary or trade secret
      information of a Third Party.

     

    1.9    “Event
      of Bankruptcy”
shall
      mean: (a) filing in any court or agency pursuant to any statute or regulation
      of
      any state or country, a petition in bankruptcy or insolvency or for
      reorganization or for an arrangement or for the appointment of a receiver or
      trustee of the Bankrupt Party or of its assets; (b) proposing a written
      agreement of composition or extension of a Bankrupt Party’s debts, (c) being
      served with an involuntary petition against the Bankrupt Party, filed in any
      insolvency proceeding, and such petition shall not be dismissed within sixty
      (60) days after the filing thereof; (d) proposing or being a party to any
      dissolution or liquidation
      when
      insolvent;
      or (e)
      making an assignment for the benefit of creditors.

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

     

    1.10    “Know-How”
shall
      mean inventions, ideas, discoveries, data, instructions, designs, concepts,
      drawings, prototypes, reports, information, processes, methods, techniques,
      materials, principles, computer software, technology, protocols, procedures,
      results, formulae, trade secrets or other know-how, whether or not
      patentable.

     

    1.11    “Knowledge”
      shall,
      in relation to a Party, mean the actual knowledge of a Party’s executive level
      employees, and, in the case of Altairnano, scientific and technical employees
      who have been actively involved in the development of the Licensed Intellectual
      Property. 

     

    1.12    “Licensed Improvements”
shall
      mean all Know-How discovered, conceived, reduced to practice or otherwise
      developed or acquired by ALSHER or its Affiliates or any employees or agents
      of
      ALSHER or its Affiliates that constitute(s) adaptations, advances, alterations,
      updates, modifications, enhancements, variations
      or
      improvements to any of the technology disclosed in any of the Licensed
      Intellectual Property that is dependent upon the underlying Licensed
      Intellectual Property. 

     

    1.13    “Licensed
      Intellectual Property”
shall
      mean
      collectively Licensed Patents and Licensed Technology.

     

    1.14    “Licensed
      Patents”
shall
      mean all
      (a)
      patents and patent applications listed on Exhibit
      B,
      (b) any
      patents issuing from any of the foregoing patent applications, (c) foreign
      counterparts of any of the foregoing, and (d) any patents or patent applications
      that claim or derive any right of priority from any of the patents and patent
      applications listed on Exhibit
      B
      (including any reissues, re-examinations, confirmations, extensions, renewals,
      substitutions, continuations, divisions, patent term extensions, and
      continuation-in-part applications (only to the extent, however, that the
      continuation-in-part applications do not include new matter)), but only to
      the
      extent that all of the claims of such patents and patent applications derive
      such right of priority or are directed to substantially the same subject matter
      as the claims of the patents and patent applications listed on Exhibit
      B.
      

     

    1.15    “Licensed
      Technology”
shall
      mean all Know-How, and other proprietary information, Controlled by Altairnano
      that is (1) in existence as of the Effective Date, and is related to (a) any
      and
      all processes for the conversion of ore into titanium containing materials,
      and
      (b) AHPP and any methods of using the AHPP to produce titanium dioxide pigment
      as disclosed in any of the Licensed Patents as of the Effective Date, (2)
      Licensed Improvements, and (3) Technology Improvements. In addition, if
      Altairnano in its discretion provides to ALSHER any such Know-How or other
      proprietary information that is useful to practice the Licensed Patents in
      the
      ALSHER Fields (whether or not strictly necessary for such purposes and whether
      or not in existence as of or after the Effective Date), then such provided
      and
      useful Know-How and other proprietary information shall be deemed Licensed
      Technology. 

     

    1.16    “Limited
      Liability Agreement”
shall
      mean the Limited Liability Company Agreement entered into between ALSHER,
      Altairnano, and Sherwin dated on or around the date hereof;

     

    1.17    “Supply
      Agreement”
      shall
      mean the Supply Agreement between Altairnano and ALSHER, dated on or around
      the
      date hereof.

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

    

     

    1.18    “Term”
shall
      have
      the
      meaning set forth in Section 7.1

     

    1.19    “Territory”
shall
      mean all the countries in the world.

     

    1.20    “Third
      Party”
shall
      mean any person or entity that is not Altairnano or ALSHER.

     

    1.21    “Technology Improvements”
shall
      mean all Know-How discovered, conceived, reduced to practice or otherwise
      developed or acquired by ALSHER or its Affiliates (except for Altair
      Nanotechnologies, Inc. and any of its direct or indirect subsidiaries) or any
      employees or agents of ALSHER or its Affiliates (except for Altair
      Nanotechnologies, Inc. and any of its direct or indirect subsidiaries) that
      constitute(s) adaptations, advances, alterations, updates, modifications,
      enhancements, variations
      or
      improvements to any of the technology not disclosed in any of the Licensed
      Intellectual Property and that is not dependent upon the underlying Licensed
      Intellectual Property.

     

    1.22    “Valid
      Claim”
      shall
      mean
      a claim
      of any issued, unexpired patent that has not been revoked or held unenforceable
      or invalid by a decision of a court or governmental agency of competent
      jurisdiction from which no appeal can be taken, or with respect to which an
      appeal is not taken within the time allowed for appeal, and that has not been
      disclaimed, denied or admitted to be invalid or unenforceable through reissue,
      disclaimer or otherwise, and that has not been lost through an interference
      proceeding or by abandonment.

     

    1.23    Additional
      Definitions:

     

    
      	
              Defined
                Term

            	
              Section
                in which Defined

            
	
              Breaching
                Party

            	
              7.2

            
	
              Code

            	
              7.3

            
	
              Effective
                Date

            	
              Preamble

            
	
              Altairnano

            	
              Preamble

            
	
              ALSHER

            	
              Preamble

            
	
              Non-Breaching
                Party

            	
              7.2

            
	
              Party,
                Parties

            	
              Preamble

            
	
              Third
                Party Infringement Action

            	
              3.7

            

    

     

    
      
        
        

      

      
        iv

        
          

        

      

      
        
        

      

    

    
 EXHIBIT
      B

    LIST
      OF LICENSED PATENTS

    

    U.S.
      Patents

     

    
      	
              Lead
                Attorney

            	
              Docket
                Number

            	
              Client
                Ref No

            	
              Case
                Type

            	
              SubStatus

            	
              Application
                Number

            	
              Application
                Date

            	
              Patent
                Number

            	
              Issue
                Date

            	
              Title

            	
              Published
                application number

            	
              Application
                publishing date

            	
              Expiration
                date

            
	
              PN

            	
              10225-11

            	
              A1

            	
              Regular

            	
              Issued

            	
              09/500,207

            	
              2/7/2000

            	
              6,375,923

            	
              4/23/2002

            	 	 	 	
              2/7/2020

            
	
              PN

            	
              10225-9

            	
              A2

            	
              Regular

            	
              Issued

            	
              09/503,365

            	
              2/14/2000

            	
              6,440,383

            	
              8/27/2002

            	
              PROCESSING
                AQUEOUS TITANIUM CHLORIDE SOLUTIONS TO ULTRAFINE TITANIUM
                DIOXIDE

            	 	 	
              2/7/2020

            
	
              PN

            	
              10225-10

            	
              A3

            	
              Regular

            	
              Issued

            	
              09/503,636

            	
              2/14/2000

            	
              6,548,039

            	
              4/15/2003

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            	 	 	
              2/7/2020

            
	
              PN

            	
              10225-57

            	
              A28

            	
              Regular

            	
              Pending

            	
              10/712,768

            	
              11/13/2003

            	 	 	
              PROCESS
                TO MAKE RUTILE PIGMENT FROM AQUEOUS TITANIUM SOLUTIONS

            	 	 	 
	
              PN

            	
              10225-96

            	
              A34

            	
              Regular

            	
              Pending

            	 	
              12/10/2004

            	 	 	
              REFRACTORY
                TITANIFERROUS ORES

            	 	 	 
	 	 	 	 	
              Pending

            	
              10/732,864

            	
              12/10/2003

            	 	 	
              METHOD
                FOR PRODUCING STRUCTURES

            	
              US2005/0129923

            	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	
              10/806,698

            	
              03/23/2004

            	 	 	
              PROCESS
                FOR SURFACE MODIFICATIONS OF TiO2
                PARTICLES AND OTHER CERAMIC MATERIALS

            	
              US2005/0214466

            	 	 

    

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

     

    Foreign
      Patents

     

    
      	
              Lead

              Attorney

            	
              Docket
                Number

            	
              Altairnano
                Ref

            	
              Country

            	
              Filing
                Type

            	
              SubStatus

            	
              Application
                Number

            	
              Application
                

              Date

            	
              Patent
                Number

            	
              Issue
                Date

            	
              Title

            
	
              PN

            	
              10225-33

            	
              A1

            	
              European
                Patent Convention

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939873.6

            	
              6/14/2000

            	
              1E+06

            	
              5/12/2004

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-58

            	
              A1

            	
              Finland

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939873.6

            	
              6/14/2000

            	
              1E+06

            	
              5/12/2004

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-61

            	
              A1

            	
              Great
                Britain

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939873.6

            	
              6/14/2000

            	
              1E+06

            	
              5/12/2004

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-59

            	
              A1

            	
              France

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939873.6

            	
              6/14/2000

            	
              1E+06

            	
              5/12/2004

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-60

            	
              A1

            	
              Germany

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939873.6

            	
              6/14/2000

            	
              6E+07

            	
              5/12/2004

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-32

            	
              A1

            	
              Canada

            	
              Patent
                Cooperation Treaty

            	
              Pending

            	
              2377261

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-31

            	
              A1

            	
              Australia

            	
              Patent
                Cooperation Treaty

            	
              Issued

            	
              54887/00

            	
              6/14/2000

            	
              770209

            	
              6/3/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-12

            	
              A1

            	
              Patent
                Cooperation Treaty

            	
              Patent
                Cooperation Treaty

            	
              Completed

            	
              US00/16363

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                TITANIFEROUS ORE TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-28

            	
              A2

            	
              Australia

            	
              Patent
                Cooperation Treaty

            	
              Issued

            	
              19128/01

            	
              6/14/2000

            	
              769225

            	
              5/6/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-30

            	
              A2

            	
              European
                Patent Convention

            	
              PCT/EPC
                Application

            	
              Issued

            	
              982051.5

            	
              6/14/2000

            	
              1E+06

            	
              11/10/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-85

            	
              A2

            	
              Germany

            	
              PCT/EPC
                Application

            	
              Issued

            	
              982051.5

            	
              6/14/2000

            	
              1E+06

            	
              11/10/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

     

    
      	
              Lead

              Attorney

            	
              Docket
                Number

            	
              Altairnano
                Ref

            	
              Country

            	
              Filing
                Type

            	
              SubStatus

            	
              Application
                Number

            	
              Application

              Date

            	
              Patent
                Number

            	
              Issue
                Date

            	
              Title

            
	
              PN

            	
              10225-86

            	
              A2

            	
              Finland

            	
              PCT/EPC
                Application

            	
              Issued

            	
              982051.5

            	
              6/14/2000

            	
              1E+06

            	
              11/10/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-88

            	
              A2

            	
              Great
                Britain

            	
              PCT/EPC
                Application

            	
              Issued

            	
              982051.5

            	
              6/14/2000

            	
              1E+06

            	
              11/10/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-87

            	
              A2

            	
              France

            	
              PCT/EPC
                Application

            	
              Issued

            	
              982051.5

            	
              6/14/2000

            	
              1E+06

            	
              11/10/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-29

            	
              A2

            	
              Canada

            	
              Patent
                Cooperation Treaty

            	
              Pending

            	
              2375623

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO ULTRAFINE TITANIUM DIOXIDE
                PIGMENT

            
	
              PN

            	
              10225-13

            	
              A2

            	
              Patent
                Cooperation Treaty

            	
              Patent
                Cooperation Treaty

            	
              Completed

            	
              US00/16355

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                AQUEOUS TITANIUM CHLORIDE SOLUTIONS TO ULTRAFINE TITANIUM
                DIOXIDE

            
	
              PN

            	
              10225-27

            	
              A3

            	
              European
                Patent Convention

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939870.2

            	
              6/14/2000

            	
              1E+06

            	
              8/18/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-92

            	
              A3

            	
              Finland

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939870.2

            	
              6/14/2000

            	
              1E+06

            	
              8/18/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-93

            	
              A3

            	
              France

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939870.2

            	
              6/14/2000

            	
              1E+06

            	
              8/18/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-94

            	
              A3

            	
              Germany

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939870.2

            	
              6/14/2000

            	
              1E+06

            	
              8/18/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-25

            	
              A3

            	
              Australia

            	
              Patent
                Cooperation Treaty

            	
              Issued

            	
              54886/00

            	
              6/14/2000

            	
              776394

            	
              12/23/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-95

            	
              A3

            	
              Great
                Britain

            	
              PCT/EPC
                Application

            	
              Issued

            	
              939870.2

            	
              6/14/2000

            	
              1E+06

            	
              8/18/2004

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-26

            	
              A3

            	
              Canada

            	
              Patent
                Cooperation Treaty

            	
              Pending

            	
              2377241

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-14

            	
              A3

            	
              Patent
                Cooperation Treaty

            	
              Patent
                Cooperation Treaty

            	
              Completed

            	
              US00/16360

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE PIGMENT

            
	
              PN

            	
              10225-34

            	
              A3

            	
              Japan

            	
              Patent
                Cooperation Treaty

            	
              Published

            	
              2001-516860

            	
              6/14/2000

            	
               

            	
               

            	
              PROCESSING
                AQUEOUS TITANIUM SOLUTIONS TO TITANIUM DIOXIDE
                PIGMENT

            

    

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

    

     

    
      	
              Lead

              Attorney

            	
              Docket
                Number

            	
              Altairnano
                Ref

            	
              Country

            	
              Filing
                Type

            	
              SubStatus

            	
              Application
                Number

            	
              Application

              Date

            	
              Patent
                Number

            	
              Issue
                Date

            	
              Title

            
	
              PN

            	
              10225-97

            	
              A28

            	
              Patent
                Cooperation Treaty

            	
              Patent
                Cooperation Treaty

            	
              Pending

            	
              PCT/US2004/037421

            	
              11/10/2004

            	
               

            	
               

            	
              PROCESS
                TO MAKE RUTILE PIGMENT FROM AQUEOUS TITANIUM SOLUTIONS

            
	
              PN

            	
              10225-101

            	
              A28

            	
              Taiwan

            	
              National

            	
              Pending

            	
              93134709

            	
              11/12/2004

            	
               

            	
               

            	
              PROCESS
                TO MAKE RUTILE PIGMENT FROM AQUEOUS TITANIUM SOLUTIONS

            
	 	 	 	
              Japan

            	 	 	
              2003-507300

            	 	 	 	 

    

    

    

    
      
        
        

      

      
        iv

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    CONFIRMATORY
      PATENT LICENSE

    

    Date:

    

    Parties:

    

    (1)    “The
      Licensor”: ___________________________ having its registered office at
      ____________________.

    

    (2)    “The
      Licensee”:___________________________ having its registered office 
at
      ____________________ 

     

    Recitals:

    

    By
      an
      Agreement (“the Main Agreement”) dated __________ 2007 and made between the
      Licensor and the Licensee, the Licensor agreed for the consideration therein
      contained inter alia to grant to the Licensee a license under the Licensed
      Patents (as that term is defined in the Main Agreement) being this
      License.

    

    Operative
      provisions:

    

    
      
        	1.    	
                IN
                  pursuance of the Main Agreement and for the consideration referred
                  to in
                  the Main Agreement the Licensor hereby grants to the Licensee the
                  exclusive license from the __ day of ____________200_ to use the
                  Licensed
                  Intellectual Property (as defined in the Main Agreement) subject
                  to the
                  provisions of the Main
                  Agreement.

              

      

    

    

    
      
        	2.    	
                SUBJECT
                  as provided in the Main Agreement this License shall determine
                  without
                  notice in the event of the determination for any reason of the
                  Main
                  Agreement.

              

      

    

    

    WITNESS
      of which this Agreement has been executed as a deed and delivered the day and
      year first above written.

     

    EXECUTED
      as a Deed by                     acting
      by:

    [name
      of
      director] and:

    [name
      of
      director/secretary]

    
 

    EXECUTED
      as a Deed by                     acting
      by:

    [name
      of
      director] and:

    [name
      of
      director/secretary]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]