Document:

Exhibit 10.68

 

CORNELL UNIVERSITY

 

OFFICE OF SPONSORED PROGRAMS

 

AGREEMENT NO. 38941

 

THIS AGREEMENT
is entered into by and between Advanced Cell Technology, Inc., a
corporation organized under the laws of Delaware (hereinafter referred to as
the “Sponsor”) and Cornell University, a non-profit, educational institution
having corporate powers under the laws of the State of New York (hereinafter
referred to as the “University”).

 

WITNESSETH:

 

WHEREAS, the effort
contemplated by this Agreement is of mutual interest and benefit to the
University and to the Sponsor, will further instructional and/or research
objectives of the University in a manner consistent with its status as a
non-profit, tax-exempt, educational institution, and may derive benefits for
both the Sponsor and the University through inventions, improvements, and/or
discoveries;

 

NOW THEREFORE, in
consideration of the premises and mutual covenants herein contained, the
parties hereto agree to the following:

 

1.             Definitions.

 

1.1.          “Project” shall mean the work funded under
this Agreement as described in Exhibit A hereof.

 

1.2.          “Intellectual Property” shall mean
individually and collectively all inventions, improvements and/or discoveries,
including deliverable software, if any, which are conceived and first reduced
to practice in the performance of the Project.

 

1.3.          “Sponsor Intellectual Property” shall mean
Intellectual Property conceived and first reduced to practice solely by one or
more employees of the Sponsor.

 

1.4.          “University Intellectual Property” shall mean
Intellectual Property conceived and first reduced to practice solely by one or
more employees of the University.

 

1.5.          “Jointly Owned Intellectual Property” shall
mean Intellectual Property conceived and first reduced to practice jointly by
one or more employees of the University and by one or more employees of the
Sponsor.

 

2.             Work. The University agrees to use reasonable efforts to perform the
Project.

 

3.             Key Personnel. The following individuals are identified as
key personnel for the performance of the Project: Jonathan R. Hill,
Principal Investigator

 

 

Agreement
No. 38941

Sponsor: Advanced Cell Technology

 

If
for any reason the Principal Investigator or any other key personnel become unable
to continue the Project the University and Sponsor shall attempt to agree upon
a successor. If the parties are unable to agree upon a successor, this
Agreement shall be terminated in accordance with Article 11., Termination
for Convenience.

 

4.             Period of Performance. The period of performance of this Agreement
will begin the date this Agreement is executed, and will extend for a one-year
period from said date.

 

5.             Reports and Conferences.

 

5.1.          The University shall furnish the Sponsor letter reports at quarterly
intervals during the term of this Agreement, summarizing the work conducted. At
Sponsor’s request, University shall provide Sponsor with all experimental protocols
developed under the Project in sufficient written detail to permit Sponsor’s
personnel to employ such procedures in their own research. The University shall
submit a final written report setting forth the Project accomplishments and
significant findings within ninety (90) days of the expiration of this
Agreement.

 

5.2.          During the term of this Agreement,
representatives of the University will meet with representatives of the Sponsor
at times and places mutually agreed upon to discuss the progress and results,
as well as ongoing plans, or changes therein, of the Project.

 

6.             Costs and Payments.

 

6.1.          It is agreed to and understood by the parties
that the University shall be reimbursed for all costs incurred in connection
with the Project up to the amount of $ 25,480 (the “Project
Cost”) as established by the budget in Exhibit B which is incorporated
herein. It is estimated that the amount designated as the Project Cost is
sufficient to support Project expenses.

 

6.2.          The Sponsor shall not be liable for any
payment in excess of the Project Cost unless this Agreement is modified in
writing. Within ninety (90) days after the termination of this Agreement the
University shall submit a final financial report setting forth costs incurred.
The report shall be accompanied by a check in the amount, if any, of the excess
of funds advanced over costs incurred.

 

6.3.          All checks shall be made payable to Cornell
University and sent to the address specified in Article 18, Notices. Payment shall be made by the Sponsor according to the
following schedule: Quarterly payments ($6,370.) to
begin upon execution of this Agreement with the final payment being made upon
receipt of the final written report.

 

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6.4           University shall use the funds provided
hereunder solely in support of activities by the Principal Investigator in
support of the Project. During the term of this Agreement, University shall not
use funds provided by a commercial entity, other than Sponsor,
to support the Principal Investigator’s activities under this Agreement or
within the scope of the Project if the use of such funds would provide any third
party with any rights in any Intellectual Property.

 

7.             Equipment. Title to any equipment purchased or manufactured in the performance of
the Project shall vest in the University.

 

8.             Use of Name. Neither party shall make use of this
Agreement, or use the name of the other party, nor that of any member of the
other’s staff, in any publicity, advertising, or news release without the prior
written approval of the other party. This shall not include internal documents
available to the public that identify the existence of this agreement.

 

9.             Publications.

 

9.1.          The Sponsor recognizes that under University policy, the University
shall have the right, at its discretion, to release information or to publish
any material resulting from the Project. The University shall furnish the
Sponsor with a copy of any proposed publication thirty (30) days in advance of
the proposed publication date. The Sponsor may request the University to delay release
of such proposed publication for a maximum of an additional thirty (30) days in
order to protect Intellectual Property, or Confidential or Proprietary Data
described therein. Such delay shall not be imposed on the filing of any student
thesis or dissertation.

 

9.2.          The Sponsor will be given full credit and acknowledgment for the
support provided to the University in any publication resulting from the
Project.

 

10.           Intellectual Property.

 

10.1.        All rights and title to University Intellectual Property shall vest in
the University.

 

10.2.        All rights and title to Sponsor Intellectual Property shall vest in the
Sponsor.

 

10.3.        All
rights and title to Jointly
Owned Intellectual Property shall vest jointly in the University and in the
Sponsor.

 

10.4.        University
and Sponsor shall promptly provide a complete written disclosure to each other
of any Intellectual Property. The Sponsor shall, upon reviewing the disclosure,
determine whether to request the University to file and prosecute any patent
application, domestic or foreign, or application for other protection directed
to University Intellectual Property or to Jointly

 

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Owned Intellectual Property described in such disclosure. The Sponsor
shall bear all costs incurred in connection with such preparation, filing,
prosecution, and maintenance of U.S. and foreign applications. The Sponsor
shall cooperate with the University to assure that such applications will
cover, to the best of the Sponsor’s knowledge, all items of commercial interest
and importance. While the University shall be responsible for making decisions
regarding scope and content of applications to be filed and prosecuted, the
Sponsor shall be given an opportunity to review and provide input thereto. The
University shall keep the Sponsor advised as to all developments with respect
to such applications and shall promptly supply to the Sponsor copies of all
papers received and filed in connection with the prosecution thereof in
sufficient time for the Sponsor to comment.

 

10.5.        University
hereby grants Sponsor a first option to obtain a worldwide, royalty-bearing,
exclusive license (with the right to sublicense) under its commercial rights in
any University Intellectual Property and Jointly Owned Intellectual Property
(the “Option Right”). Sponsor may exercise the Option Right with respect to a
particular Intellectual Property by written notice to University not later than
thirty (30) days after the disclosure
to Sponsor of the relevant Intellectual Property (the “Option Period”).”);
provided, however, that, notwithstanding the foregoing, Sponsor may exercise
the Option Right for the invention disclosure entitled “Use of Major
Histocompatibility Complex (MHC) Compatible Pregnancies or Down Regulation of
Trophoblast MHC...” , as described in that certain letter dated June 22,
2000 (Ref. No. CRF D-2647 – Hill et al.) from Richard S. Cahoon, Cornell
Research Foundation, Inc. Vice President and Associate Director Patents and
Technology Marketing, to Dr. Jose B. Cibelli of Advanced Cell Technology, Inc.,
at any time during the term of this Agreement. If Sponsor elects not to
exercise the Option Right, or fails to exercise the Option Right during the
Option Period, University shall be free to license its commercial rights under
the relevant Intellectual Property to any third party. If Sponsor does elect to
exercise the Option Right, University and Sponsor shall negotiate in good faith
a license agreement containing commercially reasonable terms and conditions. If
University and Sponsor are unable to reach agreement within six (6) months
after Sponsor exercised the Option Right (the “Negotiation Period”), University
may offer its commercial rights in the relevant Intellectual Property to any
third parties; provided, however, that for a period of one (1) year after the
Negotiation Period expires, University may only offer such rights to third parties
on terms and conditions that are not more favorable than the last offer made by
University to Sponsor, unless University first provides Sponsor with written
notice of the more favorable offer and Sponsor either (i) declines in
writing to accept the offer or (ii) fails to respond to the offer within
thirty (30) days after receiving such notice.

 

10.6.        Should
Sponsor not elect to pay for protection of University Intellectual Property or
the University’s rights in any Jointly Owned Intellectual Property, Sponsor
shall have no further rights in such Intellectual Property.

 

4

 

10.7.        To the extent that any Intellectual Property has been partially funded
by the federal government, this Agreement and the grant of any rights in such
Intellectual Property is subject to and governed by federal law as set forth in
35 U.S.C. §§ 201-211, and the regulations promulgated there under, as
amended, or any successor statutes or regulations. To the extent that any
Intellectual Property has been partially funded by a non-profit organization or
state or local agency, this Agreement and the grant of any rights in such
Intellectual Property is subject to and governed by the terms and conditions of
the applicable research grant. At the request of Sponsor, University shall make
available to Sponsor the terms and conditions of any research grants that will
partially fund the Project.

 

11.           Termination for Convenience. This Agreement may be terminated at any
time by either party giving the other party at least sixty (60) days written notice
of termination. In the event of termination by the Sponsor, the University will
be reimbursed for all expenses and non-cancelable commitments incurred in accordance
with the terms of this Agreement prior to the date of the termination notice.
In no event shall the liability of the Sponsor exceed the Project Cost.

 

12.           Independent Contractor.

 

12.1.        In the performance of the Project the University shall be deemed to be
an independent contractor and, as such, the University shall not be entitled to
any benefits applicable to employees of the Sponsor.

 

12.2.        Neither party is authorized or empowered to act as an agent for the
other for any purpose and shall not on behalf of the other enter into any
contract, warranty, or representation as to any matter. Neither shall be bound
by the acts or conduct of the other.

 

13.           Insurance.

 

13.1.        The University warrants and represents that the University has adequate
liability insurance, such protection being applicable to officers, employees, and
agents while acting within the scope of their employment by the University, and
that the University has no liability protection for any other person.

 

13.2.        Each party hereby assumes any and all risks of personal injury and
property damage attributable to the negligent acts of that party and the
officers, employees, and agents thereof.

 

14.           Force Majeure. The University shall not be liable for any
failure to perform as required by this Agreement to the extent such failure to perform
is reasonably beyond the University’s control, or by reason of any of the
following: labor disturbances or labor disputes of any kind, accidents, failure
of any governmental

 

5

 

approval
required for full performance, civil disorders or commotions, acts of
aggression, floods, earthquakes, acts of God, energy or other conservation
measures, explosion, failure of utilities, mechanical breakdowns, material
shortages, disease or other such occurrences.

 

15.           Governing Law. This Agreement shall be governed and
construed in accordance with the laws of the State of New York.

 

16.           Assignment. This Agreement shall not be assigned by either party without the
prior written consent of the other party, except that Sponsor may assign this
Agreement to an affiliate or to a successor in connection with the merger,
consolidation, or sale of all or substantially all of its assets or that
portion of its business to which this Agreement relates.

 

17.           Agreement Modification. Any agreement to change the terms of this
Agreement in any way shall be valid only if the change is made in writing and
approved by mutual agreement of authorized representatives of the parties
hereto.

 

18.           Notices. Notices, invoices, communications, and payments hereunder shall be deemed
made if given by registered or certified envelope, postage prepaid and addressed
to the party to receive such notice, invoice, or communication at the address
given below or such other address as may hereafter be designated by notice in
writing.

 

	
  If to the
  Sponsor:

  	
   

  
	
  Contractual:

  	
  Michael D.
  West Ph.D.

  
	
   

  	
  C.E.O.

  
	
   

  	
  Advanced
  Cell Technology, Inc.

  
	
   

  	
  One
  Innovation Drive

  
	
   

  	
  Worcester,
  MA. 01605

  
	
   

  	
  Phone: (508) 756-1212

  
	
   

  	
  Fax: (508) 756-0931

  
	
   

  	
   

  
	
  Technical:

  	
  Jose Cibelli DVM, Ph.D.

  
	
   

  	
  VP
  of Research

  
	
   

  	
  Advanced
  Cell Technology, Inc.

  
	
   

  	
  One
  Innovation Drive

  
	
   

  	
  Worcester, MA. 01605

  
	
   

  	
  Phone: (508) 756-1212

  
	
   

  	
  Fax:
  (508) 756-0931

  
	
   

  	
   

  
	
  If to the
  University:

  Contractual:

  	
  Robin
  L. Cyr

  
	
   

  	
  Sr.
  Grant and Contract Officer

  
	
   

  	
  Office
  of Sponsored Programs

  
	
   

  	
  120
  Day Hall

  
	
   

  	
  Cornell
  University

  

 

6

 

	
   

  	
  Ithaca,
  New York 14853

  
	
   

  	
  Phone:
  (607) 255-1050

  
	
   

  	
  Fax:
  (607) 255-1659

  
	
   

  	
  Email:
  rlc21@cornell.edu

  
	
   

  	
   

  
	
  Payments:

  	
  Cornell University

  
	
   

  	
  Sponsored Funds Accounting

  
	
   

  	
  P.O. Box 22

  
	
   

  	
  Ithaca, NY 14851-0022

  
	
   

  	
   

  
	
  Technical:

  	
  Dr. Jonathan
  R. Hill

  
	
   

  	
  Section of
  Theriogenology

  
	
   

  	
  Department
  of Clinical Sciences (Box 34)

  
	
   

  	
  Veterinary
  Research Tower VRT 7-002

  
	
   

  	
  College
  of Veterinary Medicine

  
	
   

  	
  Cornell University

  
	
   

  	
  Ithaca, NY 14853-6401

  
	
   

  	
  Phone: (607) 253-3091

  
	
   

  	
  Fax:
  (607) 253-3531

  
	
   

  	
  Email:
  jrh35@cornell.edu

  

 

19.           Special
Provisions.

 

Proprietary
or Confidential Data.
The Confidentiality Agreement between the parties dated August 3, 2000, a copy
of which is attached hereto as Exhibit C, shall govern the disclosure of
each party’s proprietary or confidential information in connection with or
during the term of this Agreement.

 

This Agreement is the
complete agreement of the Sponsor and Cornell and supersedes all prior
understandings regarding the Project.

 

IN WITNESS WHEREOF, the
parties have caused these presents to be executed in duplicate on the dates
indicated below.

 

	
  CORNELL
  UNIVERSITY

  	
  ADVANCED
  CELL TECHNOLOGY

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Robin L. Cyr

  	
   

  	
  /s/ Michael D. West

  	
   

  
	
  Robin L. Cyr

  	
  Michael D. West Ph.D.

  
	
  Sr. Grant and Contract
  Officer

  	
  C.E.O.

  
	
   

  	
   

  
	
   

  	
   

  
	
  8/9/00

  	
   

  	
  8-11-00

  	
   

  
	
  Date

  	
  Date

  
	
   

  	
   

  
	
   

  	
   

  

 

7Exhibit 10.69

 

Rafael Fissore

 

SPONSORED RESEARCH AGREEMENT

— INVENTIONS AND MATERIALS —

 

This Agreement, effective as of December 1,
1999 (the “Effective Date”), is between the University of Massachusetts (“University”),
a public institution of higher education of the Commonwealth of Massachusetts,
us represented by its Amherst Campus and Advanced Cell Technology, Inc. (“Sponsor”),
a Delaware corporation.

 

RECITALS

 

WHEREAS, University and Sponsor previously
entered into a Research Collaboration Agreement dated April 16, 1996 (the “Prior
Agreement”), which expired April 15, 1998; and

 

WHEREAS, University and Sponsor have entered
into an Exclusive License Agreement as of April 16, 1996 as
amended on September 1, 1997 under which Sponsor licenses certain inventions
developed under the Prior Agreement; and

 

WHEREAS, University has several new
inventions in the areas of cellular reprogramming and initiation of cellular
growth which were conceived through independent funding which University wishes
to present to Sponsor as an opportunity for further research and development;
and

 

WHEREAS, Sponsor has indicated interest in
funding the research and development of several projects in the areas of cloning technology and cellular reprogramming to
further its interest in understanding the role of stem cell differentiation
into desired tissues as seen in this Sponsored research Agreement (SRA); and

 

WHEREAS, University is willing to perform
research and development for Sponsor under different terms and conditions than
under the Prior Agreement which may lead to the subsequent licensing of new
inventions under a new license agreement;

 

NOW, THEREFORE, University and Sponsor hereby
agree as follows:

 

1. Definitions.

 

1.1 “Confidential Information” means
any confidential or proprietary information furnished by one party (the “Disclosing
Party”) to the other party (the “Receiving Party”) in connection with the
performance of the Research Project, provided that such information is
specifically designated as confidential. Such Confidential Information may
include, without limitation, trade secrets, know-how, inventions, technical
data or specifications, testing methods, and research and development
activities.

 

1.2. “Inventions” means any
potentially patentable invention based on the Research Results which is (i)
conceived during the term of this Agreement by employees of University or
Sponsor, or both, and

 

 

(ii) reduced to practice either during the term of this Agreement or
thereafter within a period of six (6) months.

 

1.3. “Materials” means any tangible
biological, chemical, or physical materials. In the case of biological
materials, the term “Materials” shall also include tangible materials that are
routinely produced through use of the original materials, including, for example,
any progeny derived from a cell line, monoclonal antibodies produced by
hybridoma cells, DNA or RNA replicated from isolated DNA or RNA, recombinant
proteins produced through use of isolated DNA or RNA, and recombinant proteins
isolated from a cell extract or supernatant by non-proprietary affinity
purification methods.

 

l.4. “Patent Rights” means all United
States and foreign patent applications claiming an Invention, including any
divisional, continuation, continuation-in-part (to the extent that the claims
are directed to an Invention), and foreign equivalents thereof, as well as any
patents issued thereon or reissues or reexaminations thereof. “University
Patent Rights” means Patent Rights claiming Inventions that arc conceived
and reduced to practice solely by employees of University, as determined under
the patent laws of the United States, and assigned to University. “Joint
Patent Rights” means Patent Rights claiming Inventions that are conceived
or reduced to practice jointly by employees of University and employees or
consultants of Sponsor, as determined under the patent laws of the United
States, and assigned to University or Sponsor.

 

1.5. “Principal Investigator” means an
employee of University who has primary responsibility for the performance of
the Research Project. The Principal Investigator is identified in Section 2.1.
below.

 

1.6. “Project Materials” means
Materials that are discovered or developed in the performance of the Research
Project.

 

1.7. “Proprietary Materials” means any
proprietary Materials other than Project Materials that are furnished by one
party (the “Supplier”) to the other party (the “Recipient”) in connection with
the performance of the Research Project.

 

1.8. “Research Project” means the
research project described on Exhibit A (“Description of Research
Project”), which University agrees to perform under the terms and conditions of
this Agreement.

 

1.9. “Research Results” means all
data, test results, laboratory notes, techniques, know-how, and any other
research results that arc obtained in the performance of the Research Project.
The term “Research Results” shall not include any Project Materials, patentable
inventions, copyrighted or copyrightable works, trademarks or service marks, or
other intellectual property based on the Research Results. As a matter of
policy, University ordinarily will not assert trade secret protection for
Research Results.

 

1.10. “Technical Representative” means
an individual designated by Sponsor as its principal technical representative
for consultation and communications with University and the Principal Investigator.
The Technical Representative is identified in Section 2.1. below.

 

2

 

2. Performance of Research Project.

 

2.1. Principal Investigator and Technical
Representative. The Principal Investigator shall be Dr. Rafael Fissore. If
Dr. Fissore ceases to serve as Principal Investigator for any reason,
University will promptly notify Sponsor, and University and Sponsor shall use
good faith efforts to identify a mutually acceptable replacement within sixty
(60) days. If a suitable replacement Principal Investigator cannot be identified
within the sixty-day period, Sponsor shall have right to terminate this
Agreement as provided in Section 6.2. The Technical Representative shall be Dr.
Jose B. Cibelli. Sponsor may change its Technical Representative upon thirty
(30) days written notice to University.

 

2.2. Performance of Research Project.
University shall use reasonable efforts to complete the Research Project;
however. University makes no warranties regarding the completion of the
Research Project or the achievement of any particular results. The Principal
Investigator shall direct the Research Project and shall control the manner of
its performance. The Technical Representative may consult informally with the
Principal Investigator, both in person and by telephone, regarding the
performance of the Research Project. The Technical Representative shall have
reasonable access to University facilities where the Research Project is being
conducted, but the exact time and manner of such access shall be determined by
the Principal Investigator.

 

2.3. Records, Materials, and Reports.
The Principal Investigator will prepare and maintain records containing all
Research Results, including laboratory notebooks maintained in accordance with
customary academic practice. During the term of this Agreement, and at the
convenience of the Principal Investigator, the Technical Representative shall
have reasonable access to such research records, and the Principal Investigator
agrees to furnish Sponsor, upon request, with reasonable amounts of any Project
Materials, subject to availability. Within ninety (90) days after the
expiration or termination of this Agreement, the Principal Investigator shall
deliver to Sponsor a final report describing all significant Research Results
in reasonable detail; provided, however, that the Principal Investigator may
extend this ninety-day deadline with the consent of Sponsor, which consent
shall not be unreasonably withheld.

 

3. Contributions of Sponsor.

 

3.1. Contributions to Research Project.
Sponsor shall contribute to the Research Project the financial support,
equipment, personnel, technology, and other resources listed on Exhibit B
(“Sponsor Contributions”). Sponsor may also furnish University and the
Principal Investigator with certain Confidential Information and Proprietary
Materials, which shall remain the property of Sponsor. University and the
Principal Investigator reserve the right to refuse to accept any Confidential
Information or Proprietary Materials offered by Sponsor.

 

3.2. Payments to University. In
consideration of the performance of the Research Project, Sponsor shall make
periodic advance payments to University in the amounts listed on Exhibit B
(“Sponsor Contributions”). Payments should be made in the name of “University
of Massachusetts” and sent to Controller’s Office, 408 Goodell Building,
University of Massachusetts, Amherst, Massachusetts. If this Agreement is
terminated prior to its expiration for any reason other than a material breach
by University (as described in Section 6.3.), then on the effective date of
such termination, Sponsor shall pay University the entire amount of any
uncancellable financial commitments that University intended to pay through Sponsor
Contributions, including without limitation (i) salaries for appointed
employees for the remainder of their term of appointment (e.g., postdoctoral
fellows) and stipends for graduate students and (ii)

 

3

 

University expenses previously incurred for equipment, travel, and
associated indirect costs. Upon the request of Sponsor made within thirty (30)
days after the expiration or termination of this Agreement, University shall
furnish Sponsor with a final accounting of all expenses incurred in connection
with the Research Project and all funds received from Sponsor pursuant to this
Section 3.2., together with a check payable to Sponsor in the amount of any
unexpended and uncommitted funds, failing which University shall retain any
unexpended funds.

 

3.3. Use of Funds. University shall
monitor expenditures, in accordance with its institutional policies, to ensure
that the funds provided by Sponsor arc spent in connection with the performance
of the Research Project.

 

3.4. Ownership of Equipment. Upon
termination or expiration of this Agreement, University shall retain title to
all equipment purchased or fabricated by University with funds provided by
Sponsor.

 

4. Confidential Information, Proprietary
Materials; Publications.

 

4.1. Confidential Information.

 

(a) Designation. Confidential
Information that is disclosed in writing shall be marked with a legend
indicating its confidential status (such as “Confidential” or “Proprietary”).
Confidential Information that is disclosed orally or visually shall be
documented in a written notice prepared by the Disclosing Party and delivered
to the Receiving Party within thirty (30) days of the date of disclosure; such
notice shall summarize the Confidential Information disclosed to the Receiving
Party and reference the time and place of disclosure.

 

(b) Obligations. During the term of
this Agreement and thereafter for a period of five (5) years, the Receiving
Party shall (i) maintain all Confidential Information in strict confidence,
except that the Receiving Party may disclose or permit the disclosure of any
Confidential Information to its directors, officers, employees, consultants,
and advisors who are obligated to maintain the confidential nature of such
Confidential Information and who need to know such Confidential Information for
the performance of the Research Project; (ii) use all Confidential Information
solely for the performance of the Research Project; and (iii) allow its
directors, officers, employees, consultants, and advisors to reproduce the Confidential
Information only to the extent necessary for performance of the Research
Project, with all such reproductions being considered Confidential Information.

 

(c) Exceptions. The obligations of the Receiving Party under
Section 4.l.(b) above shall not apply to the extent that the Receiving Party
can demonstrate that certain Confidential Information (i) was in the public
domain prior to the time of its disclosure under this Agreement; (ii) entered
the public domain after the time of its disclosure under this Agreement through
means other than an unauthorized disclosure resulting from an act or omission
by the Receiving Party; (iii) was independently developed or discovered by the
Receiving Party without use of the Confidential Information; (iv) is or was
disclosed to the Receiving Party at any time, whether prior to or after the
time of its disclosure under this Agreement, by a third party having no
fiduciary relationship with the Disclosing Party and having no obligation of confidentiality
with respect to such Confidential Information; or (v) is required to be
disclosed to comply with applicable laws or regulations, or with a court or
administrative order, provided that the Disclosing

 

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Party receives reasonable prior written notice of such disclosure.

 

(d) Ownership and Return. The
Receiving Party acknowledges that the Disclosing Party (or any third party
entrusting its own information to the Disclosing Party) claims ownership of its
Confidential Information in the possession of the Receiving Party. Upon the
expiration or termination of this Agreement, and at the request of the
Disclosing Party, the Receiving Party shall return to the Disclosing Party all
originals, copies, and summaries of documents, materials, and other tangible
manifestations of Confidential Information in the possession or control of the
Receiving Party, except that the Receiving Party may retain one copy of the
Confidential Information in the possession of its legal counsel solely for the
purpose of monitoring its obligations under this Agreement.

 

4.2. Proprietary Materials.

 

(a) Limited Use and Transfer. The
Recipient shall use Proprietary Materials only for the performance of the
Research Project. The Recipient shall use the Proprietary Materials only in compliance
with all applicable federal, state, and local laws and regulations. The
Recipient shall not use the Proprietary Materials in any  in vivo experiments on human subjects. The
Recipient shall not transfer any Proprietary Materials to any third party
without the prior written consent of the Supplier.

 

(b) Warranty Disclaimer. Any
Proprietary Materials that are furnished to a party pursuant to this Agreement
are provided for experimental purposes and may have hazardous properties. THE
SUPPLIER MAKES NO REPRESENTATIONS, AND EXTENDS NO WARRANTIES OF ANY KIND,
EITHER EXPRESS OR IMPLIED, WITH RESPECT TO ANY PROPRIETARY MATERIALS. THERE ARE
NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE, OR THAT THE USE OF PROPRIETARY MATERIALS WILL NOT INFRINGE ANY PATENT
RIGHTS OR OTHER PROPRIETARY RIGHTS OF A THIRD PARTY.

 

(c)
Ownership and Return. The Recipient acknowledges that the Supplier (or
any third party entrusting its Materials to the Supplier) claims ownership of
its Proprietary Materials in the possession of the Recipient. The Recipient
agrees to cause its employees to execute and deliver any documents of assignment
or conveyance to effectuate the ownership rights of the Supplier in Proprietary
Materials. Upon the expiration or termination of this Agreement, the Recipient
shall at the instruction of Supplier either destroy or return any unused
Proprietary Materials.

 

4.3. Publications. University and its
employees will be free to publicly disclose (through journals, lectures, or
otherwise) the Research Results, provided that the Principal Investigator shall
have provided a copy of the proposed disclosure to Sponsor at least sixty (60)
days prior to the submission of any written publication and at least thirty
(30) days prior to any oral public disclosure (the “Review Period”) to allow Sponsor
to determine whether any Invention or its Confidential Information would be
disclosed. The parties expressly agree that research grant
proposals submitted to federal, state, or local agencies or non-profit
organizations shall not be subject to review under this Section. If Sponsor
reasonably determines that the proposed disclosure would reveal an Invention or
Sponsor Confidential Information, then Sponsor shall notify University and the
Principal Investigator of such determination and its basis prior to the expiration
of the Review Period. With respect to disclosure of an Invention, upon receipt
of timely notice by Sponsor, the Principal Investigator agrees to delay
submission of the written publication or presentation of the oral public
disclosure until one of the following events occurs: (i) Sponsor and

 

5

 

University agree that no patentable Invention exists; (ii) University
or Sponsor files a patent application claiming the relevant Invention pursuant
to Article 5; (iii) Sponsor, University, and Principal Investigator jointly
agree upon deletions that prevent disclosure of any Invention; or (iv) a period
of sixty (60) days elapses commencing with the effective date of notice to
University. With respect to disclosure of Sponsor Confidential Information,
upon receipt of timely notice by Sponsor, the Principal Investigator agrees to
delete such information from any proposed disclosure.

 

5. Intellectual Property.

 

5.1. Assignment of Rights in Inventions
and Project Materials. The Principal Investigator agrees to assign to
University all rights in Inventions and commercial rights in Project Materials.
The Principal Investigator shall certify that every person who may be involved
in the Research Project shall have signed the University Participation
Agreement, which assigns to University all rights in Inventions and commercial
rights in Project Materials. Sponsor represents and warrants that all of its
employees and consultants who may be involved in the Research Project shall
have agreed to assign to Sponsor all rights in Inventions and all commercial
rights in Project Materials.

 

5.2. Ownership of Patent Rights and
Project Materials. In accordance with United States patent law, University
shall have sole ownership of all University Patent Rights and University and
Sponsor shall have joint, undivided ownership of all Joint Patent Rights.
University shall have sole ownership of commercial rights in all Project
Materials not claimed in the Patent Rights; however, if a Project Material incorporates
one or more Sponsor Proprietary Materials, University may not exploit
commercial rights in that Project Material without the written consent of
Sponsor.

 

5.3. Notice of Inventions and Project
Materials. The Principal Investigator shall promptly disclose to University
the conception or reduction to practice of any Invention and the development or
discovery of any commercially valuable Project Material that is not otherwise
disclosed as an Invention. University and Sponsor shall provide prompt written
notice to the other of the internal disclosure by its employees of any
Invention. University and Sponsor shall discuss whether to Obtain Patent Rights
for the Invention and whether such Patent Rights would constitute University
Patent Rights or Joint Patent Rights. University shall provide prompt written
notice to Sponsor of the internal disclosure of any commercially valuable Project
Material that is not otherwise disclosed as an Invention.

 

5.4. Responsibility for Patent Rights.

 

(a) Primary Responsibility with University.
University shall have primary responsibility, at the expense of Sponsor, for
the preparation, filing, prosecution, and maintenance of all University Patent Rights
and Joint Patent Rights, using patent counsel reasonably acceptable to Sponsor
University shall consult with Sponsor as to the preparation, filing,
prosecution, and maintenance of all such Patent Rights reasonably prior to any
deadline or action with the U.S. Patent & Trademark Office or any foreign
patent office and shall furnish Sponsor with copies of all relevant documents
reasonably in advance of such consultation.

 

(b) Secondary Responsibility with Sponsor.
In the event that University desires to abandon any patent or patent
application within the Patent Rights, or if University declines to assume
responsibility for obtaining patent protection for any Invention, University
shall provide Sponsor with reasonable prior

 

6

 

written notice of such intended abandonment or decline of
responsibility, and Sponsor shall have the right, at its expense, to prepare,
file, prosecute, and maintain the relevant Patent Rights.

 

(c) Cooperation. University and
Sponsor shall cooperate fully in the preparation, filing, prosecution, and
maintenance of all University Patent Rights and Joint Patent Rights. Such
cooperation includes, without limitation, (i) promptly executing all papers and
instruments or requiring employees of University or Sponsor to execute such
papers and instruments as reasonable and appropriate so as to enable University
or Sponsor to file, prosecute, and maintain such Patent Rights in any country;
and (ii) promptly informing the other party of matters that may affect the
preparation, filing, prosecution, or maintenance of any such Patent Rights.

 

(d) Payment of Expenses. Within thirty
(30) days after University invoices Sponsor, Sponsor shall reimburse University
for all reasonable patent-related expenses incurred by University pursuant to
Subsection 5.4.(a). University shall have no obligation to reimburse Sponsor
for expenses incurred by Sponsor pursuant to Subsection 5.4.(b). Sponsor may
elect, upon sixty (60) days written notice to University, to cease payment of
the expenses associated with obtaining or maintaining patent protection for one
or more Patent Rights in one or more countries. In such event, Sponsor shall
lose all rights under this Agreement with respect to such Patent Rights in such
countries.

 

5.5. Option for Exclusive License.
University hereby grants Sponsor a first option to obtain a worldwide,
royalty-bearing, exclusive license (with the right to sublicense) under its
commercial rights in any University Patent Rights and Joint Patent Rights and
University Project Materials and Joint Project Materials (the “Option Right”).
Sponsor may exercise the Option Right with respect to a particular Patent Right
or Project Material (if any) by written notice to University together with
payment of Ten Thousand Dollars ($10,000.00) license fee for each invention in
which University claims rights, both of which must be received by University
not later than sixty (60) days after the disclosure to Sponsor of the relevant
Invention (the “Option Period”). If Sponsor elects not to exercise the Option
Right, or fails to exercise the Option Right during the Option Period,
University shall be free to license its commercial rights under the relevant
Patent Right to any third party. If Sponsor does elect to exercise the Option
Right, University and Sponsor shall negotiate in good faith a license agreement
containing commercially reasonable terms and conditions. If University and
Sponsor are unable to reach agreement within six (6) months after Sponsor
exercised the Option Right (the “Negotiation Period”), University may offer its
commercial rights in the relevant Patent Right to any third parties; provided,
however, that for a period of one (1) year after the Negotiation Period
expires, University may only offer such rights to third parties on terms and
conditions that are not more favorable than the last offer made by University
to Sponsor, unless University first provides Sponsor with written notice of the
more favorable offer and Sponsor either (i) declines in writing to accept the
offer or (ii) fails to respond to the offer within thirty (30) days after
receiving such notice.

 

5.6 Use of Research Results and Project
Materials. Each party shall have the unrestricted right to use Research
Results for any purpose and to use Project Materials for internal research (but
not in a commercial product or in connection with a commercial service); provided,
however, that in the case of Sponsor, such use does not infringe any claim of a
patent application or an issued patent included in the University Patent Rights
for which Sponsor has failed to obtain a license as provided in Section 5.5.
above. If Sponsor desires to obtain a license under the commercial rights of
University in any Project Materials, University agrees to discuss the
possibility of granting such a license, provided that such

 

7

 

commercial rights are available for licensing when Sponsor makes its
request.

 

5.7. Copyrightable Works. University
or its employees shall have sole ownership of any copyrighted or copyrightable
works (including reports and publications) that are created by University employees
in the performance of the Research Project. University and the Principal
Investigator hereby grant Sponsor an irrevocable, royalty-free,
nontransferable, non-exclusive right to copy and distribute any research
reports furnished to Sponsor under this Agreement and to prepare, copy, and distribute
derivative works based on these research reports.

 

6. Term and Termination.

 

6.1. Term. This Agreement shall
commence on the Effective Date and shall remain in effect for a period of three
(3) years, unless earlier terminated in accordance with the provisions of this
Agreement.

 

6.2. Loss of Principal Investigator.
If the Principal Investigator leaves University or otherwise terminates his
involvement in the Research Project, and if University and Sponsor fail to
identify a mutually acceptable substitute as provided in Section 2.1., Sponsor
may terminate this Agreement upon sixty (60) days prior written notice to
University.

 

6.3. Termination for Default. In the
event that either party commits a material breach of its obligations under this
Agreement and fails to cure that breach within sixty (60) days after receiving
written notice thereof, the other party may terminate this Agreement
immediately upon written notice to the party in breach.  If the alleged breach involves nonpayment of
any amounts due University under this Agreement, Sponsor shall have only one
opportunity to cure a material breach for which it receives notice as described
above; any subsequent material breach by Sponsor will entitle University to
terminate this Agreement immediately upon written notice to Sponsor, without
the sixty-day cure period.

 

6.4. Force Majeure. Neither party will be
responsible for delays resulting from causes beyond the reasonable control of
such party, including without limitation fire, explosion, flood, war, strike,
or riot, provided that the nonperforming party uses commercially reasonable
efforts to avoid or remove such causes of nonperformance and continues
performance under this Agreement with reasonable dispatch whenever such causes
are removed.

 

6.5. Effect of Termination. The following
provisions shall survive the expiration or termination of this Agreement:
Articles 1, 4, and 7; Sections 2.3. (obligation to deliver final report), 3.2.
(obligation to deliver final accounting), 6.5., 8.2., 8.3., 8.5., 8.14., and
8.15. In addition, the provisions of Article 5 shall survive termination of
this Agreement, as necessary to effectuate the rights of Sponsor, unless
University has terminated this Agreement because of a material breach by
Sponsor pursuant to Section 6.3.

 

7.
Dispute Resolution.

 

7.1. Procedures Mandatory. The parties
agree that any dispute arising out of or relating to this Agreement shall be
resolved solely by means of the procedures set forth in this Article, and that
such procedures constitute legally binding obligations that are an essential
provision of this Agreement; provided, however, that all procedures and
deadlines specified in this Article may be modified by written agreement of the
parties. If either party fails to observe the procedures of this Article, as
modified by their

 

8

 

written agreement, the other party may bring an action for specific
performance in any court of competent jurisdiction.

 

7.2. Dispute Resolution Procedures.

 

(a) Negotiation. In the event of any
dispute arising out of or relating to this Agreement, the affected party shall
notify the other party, and the parties shall attempt in good faith to resolve
the matter within ten (10) days after the date such notice is received by the
other party (the “Notice Date”). Any disputes not resolved by good faith
discussions shall be referred to senior executives of each party, who shall
meet at a mutually acceptable time and location within thirty (30) days after
the Notice Date and attempt to negotiate a settlement.

 

(b) Mediation. If the matter remains
unresolved within sixty (60) days after the Notice Date, or if the senior
executives fail to meet within thirty (30) days after the Notice Date, either
party may initiate mediation upon written notice to the other party, whereupon
both parties shall be obligated to engage in a mediation proceeding under the
then current Center for Public Resources (“CPR”) Model Procedure for Mediation
of Business Disputes, except that specific provisions of this Section shall
override inconsistent provisions of the CPR Model Procedure. The mediator will
be selected from the CPR Panels of Neutrals. If the parties cannot agree upon
the selection of a mediator within ninety (90) days after the Notice Date, then
upon the request of either party, the CPR shall appoint the mediator. The
parties shall attempt to resolve the dispute through mediation until one of the
following occurs: (i) the parties reach a written settlement; (ii) the mediator
notifies the parties in writing that they have reached an impasse; (iii) the
parties agree in writing that they have reached an impasse; or (iv) the parties
have not reached a settlement within one hundred and twenty (120) days after
the Notice Date.

 

(c) Trial Without Jury. If the parties
fail to resolve the dispute through mediation, or if neither party elects to
initiate mediation, each party shall have the right to pursue any other
remedies legally available to resolve the dispute, provided, however, that the
parties expressly waive any right to a jury trial in any legal proceeding under
this Section.

 

73. Preservation of Rights Pending
Resolution.

 

(a) Performance to Continue. Each
party shall continue to perform its obligations under this Agreement pending
final resolution of any dispute arising out or relating to this Agreement;
provided, however, that a party may suspend performance of its obligations
during any period in which the other party fails or refuses to perform its
obligations.

 

(b) Provisional Remedies. Although the
procedures specified in this Article are the sole and exclusive procedures for
the resolution of disputes arising out of relating to this Agreement, either party
may seek a preliminary injunction or other provisional equitable relief if, in
its reasonable judgment, such action is necessary to avoid irreparable harm to
itself or to preserve its rights under this Agreement.

 

(c) Statute of Limitations. The
parties agree that all applicable statutes of limitation and time-based
defenses (such as estoppel and laches) shall be tolled while the procedures set
forth in Subsections 7.2.(a) and 7.2(b) are pending. The parties shall take any
actions necessary to effectuate this result.

 

9

 

8. Miscellaneous.

 

8.1. Compliance with Law and Policies.
Sponsor agrees to comply with applicable law and the policies of University in
the area of technology transfer, as set forth on Exhibit C: The Intellectual Property
Policy, the Policy on Conflicts of Interests Relating to the Intellectual
Property and Commercial Ventures, and the Policy on Faculty Consulting and
Outside Activities. Sponsor shall promptly notify University of any violation
that Sponsor knows or has reason to believe has occurred or is likely to occur.

 

8.2.
Indemnification.

 

(a) Indemnity. Sponsor shall
indemnify, defend, and hold harmless University and its trustees, officers,
faculty, students, employees, and agents and their respective successors, heirs
and assigns (the “Indemnitees”), against any liability, damage, loss, or
expense (including reasonable attorneys fees and expenses of litigation)
incurred by or imposed upon any of the Indemnitees in connection with any
claims, suits, actions, demands or judgments arising out of any theory of
liability (including without limitation actions in the form of tort, warranty,
or strict liability and regardless of whether such action has any factual
basis) relating to this Agreement or concerning any product, process, or
service that is made, used, or sold pursuant to any right or license granted
under this Agreement; provided, however, that such indemnification shall not
apply to any liability, damage, loss, or expense to the extent directly
attributable to (i) the negligent activities or intentional misconduct of the
Indemnitees or (ii) the settlement of a claim, suit, action, or demand by
Indemnitees without the prior written approval of Sponsor.

 

(b) Procedures. The Indemnitees agree
to provide Sponsor with prompt written notice of any claim, suit, action,
demand, or judgment for which indemnification is sought under this Agreement. Sponsor
agrees, at its own expense, to provide attorneys reasonably acceptable to
University to defend against any such claim. The Indemnitees shall cooperate
fully with Sponsor in such defense and will permit Sponsor to conduct and
control such defense and the disposition of such claim, suit, or action (including
all decisions relative to litigation, appeal, and settlement); provided, however,
that any Indemnitee shall have the right to retain its own counsel, at the
expense of Sponsor, if representation of such Indemnitee by the counsel
retained by Sponsor would be inappropriate because of actual or potential differences
in the interests of such Indemnitee and any other party represented by such
counsel. Sponsor agrees to keep University informed of the progress in the
defense and disposition of such claim and to consult with University with
regard to any proposed settlement.

 

8.3. Publicity Restrictions. Sponsor
shall not use the name of University or any of its trustees, officers, faculty,
students, employees, or agents, or any adaptation of such names, or any terms
of this Agreement in any promotional material or other public announcement or
disclosure without the prior written consent of University. The foregoing
notwithstanding, Sponsor shall have the right to disclose such information
without the consent of University in any prospectus, offering memorandum, or
other document or filing required by applicable securities laws or other
applicable law or regulation, provided that Sponsor shall have given University
at least ten (10) days prior written notice of the proposed text for the
purpose of giving University the opportunity to comment on such text.

 

10

 

8.4. Warranty Disclaimer. University
makes no express warranties and disclaims any implied warranties as to any
matter relating to this Agreement, including without limitation the performance
or results of the Research Project; the availability of legal protection for
any Research Results, Project Materials, Inventions, copyrightable works, or any other
work product of the Research Project; or the validity or enforceability of any
Patent Right that may be obtained pursuant to this Agreement. THERE ARE NO
EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE FOR ANY PROJECT MATERIALS OR RESEARCH RESULTS, OR THAT THE USE OF
PROJECT MATERIALS OR RESEARCH RESULTS WILL NOT INFRINGE ANY PATENT RIGHTS OR
OTHER PROPRIETARY RIGHTS OF A THIRD PARTY.

 

8.5. Notice to Other Investigators.
The Principal Investigator shall furnish all investigators involved in the
Research Project, including faculty, staff, students, and post-doctoral
fellows, with written notice of their obligations under Articles 4 and 5 of
this Agreement.

 

8.6. Research Partially Funded by Grants.

 

(a) Federal Government. To the extent
that any Invention has been partially funded by the federal government, this
Agreement and the grant of any rights in such Invention is subject to and governed
by federal law as set forth in 35 U.S.C. 

§§ 201-211, and the regulations promulgated thereunder, as amended, or any
successor statutes or regulations. If any term of this Agreement fails to
conform with such laws and regulations, the relevant term shall be deemed an
invalid provision and modified by the parties pursuant to Section 8.16.

 

(b) Other Organizations. To the extent
that any Invention has been partially funded by a non-profit organization or
state or local agency, this Agreement and the grant of any rights in such Invention
is subject to and governed by the terms and conditions of the applicable
research grant. If any term of this Agreement fails to conform with such terms
and conditions, the relevant term shall be deemed an invalid provision and
modified by the parties pursuant to Section 8.16. At the request of Sponsor, University
shall make available to Sponsor the terms and conditions of any research grants
that will partially fund the Research Project.

 

8.7. Tax-Exempt Status. Sponsor
acknowledges that University, as a public institution of the Commonwealth of
Massachusetts, holds the status of an exempt organization under the United
States Internal Revenue Code. Sponsor also acknowledges that certain facilities
in which the Research Project may be performed were financed through offerings
of tax-exempt bonds. If the Internal Revenue Service determines, or if counsel
to University reasonably determines, that any term of this Agreement jeopardizes
the tax-exempt status of University or the bonds used to finance University
facilities, the relevant term shall be deemed an invalid provision and modified
by the parties pursuant to Section 8.16.

 

8.8. Relationship of Parties. For the
purposes of this Agreement, each party is an independent contractor and not an
agent or employee of the other party. Neither party shall have authority to
make any statements, representations, or commitments of any kind, or to take
any action which shall be binding on the other party, except as may be
explicitly provided for in this Agreement or authorized in writing by the other
party.

 

11

 

8.9. Counterparts. This Agreement may
be executed in one or more counterparts, each of which shall be deemed an
original, and all of which together shall be deemed to be one and the same
instrument.

 

8.10. Headings. All headings are for
convenience only and shall not affect the meaning of any provision of this
Agreement.

 

8.11. Binding Effect. This Agreement
shall be binding upon and inure to the benefit of the parties and their
respective permitted successors and assigns.

 

8.12. Assignment. This Agreement may
not be assigned by either party without the prior written consent of the other
party, except that Sponsor may assign this Agreement to an affiliate or to a
successor in connection with the merger, consolidation, or sale of all or
substantially all of its assets or that portion of its business to which this
Agreement relates.

 

8.13. Amendment and Waiver. This
Agreement may be amended, supplemented, or otherwise modified only by means of
a written instrument signed by both parties. Any waiver of any rights or
failure to act in a specific instance shall relate only to such instance and
shall not be construed as an agreement to waive any rights or fail to act in
any other instance, whether or not similar.

 

8.14. Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts irrespective of any conflicts of law principles.

 

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

 

If to University:

 

University of Massachusetts

Office of Grants & Contracts
Administration

Goodell Building

Amherst, Massachusetts 01003

Attention:      Margaret
Vidrine, Director

 

Tel: (413) 545-0698

Fax: (413) 545-5888

E-Mail: vidrine@resgs.umass.edu

 

If to Sponsor:

 

Advanced Cell Technology, Inc.

One Innovation Drive

Worcester, MA

Attention: Dr. Jose Cibelli, Vice President
of Research

 

12

 

Tel: (508) 756-1212

Fax: (508) 756-0931

E-Mail: jcibelli@advancedcell.com

 

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

 

8.16. Severability. In the event that
any provision of this Agreement shall be held invalid or unenforceable for any
reason, such invalidity or unenforceability shall not affect any other
provision of this Agreement, and the parties shall negotiate in good faith to
modify the Agreement to preserve (to the extent possible) their original
intent. If the parties fail to reach a modified agreement within sixty (60) days
after the relevant provision is held invalid or unenforceable, then the dispute
shall be resolved in accordance with the procedures set forth in Article 7. While
the dispute is pending resolution, this Agreement shall be construed as if such
provision were deleted by agreement of the parties.

 

8.17. Entire Agreement. This Agreement
constitutes the entire agreement between the parties with respect to its
subject matter and supersedes all prior agreements or understandings between
the parties relating to its subject matter.

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their duly authorized representatives as of
the date first written above.

 

	
  UNIVERSITY
  OF MASSACHUSETTS

  AT AMHERST

  	
  ADVANCED
  CELL TECHNOLOGY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Carol P. Sprague

  	
   

  	
  By:

  	
  /s/ Michael D.West

  	
   

  
	
   

  	
  Carol P. Sprague

  	
   

  	
  Michael D.West

  
	
   

  	
  Assoc. Director, Office of
  Grant and

  	
   

  	
  President and CEO

  
	
   

  	
  Administration

  	
   

  
							

 

I hereby acknowledge and agree to the terms
of Articles 4 and 5 and Sections 2.2., 2.3., and 8.5. of this Agreement, and I
reaffirm that I will assign to University all of my right, title, and interest
in any Inventions and Project Materials.

 

	
  ACKNOWLEDGED AND AGREED:

  
	
   

  
	
   

  
	
  /s/ Rafael
  Fissore

  	
   

  
	
  Dr. Rafael Fissore

  
	
  Principal Investigator

  

 

13

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