Document:

Exhibit 10.2

 

COLLABORATION AGREEMENT

 

This Collaboration Agreement (“Agreement”) is made
and entered into as of August 23, 2017 (“Effective Date”), by and between 3D Nanocolor Corp., a Delaware Corporation,
having its principal place of business at 1110 NE Circle Blvd., Corvallis, OR 97330 USA (“3DN”), and Eastman Chemical Company,
a Delaware corporation having its principal place of business at 200 South Wilcox Drive, Kingsport, Tennessee 37660 USA on its
behalf and on behalf of its wholly owned subsidiaries Solutia Inc. and Southwall Technologies Inc. (hereinafter collectively referred
to as “Eastman”), each of the foregoing individually a “Party” and collectively “Parties”.

 

WITNESSETH:

 

WHEREAS, 3DN has entered into an Intellectual Property Agreement
(the “HP Agreement”) with Hewlett-Packard Development Company, L.P. and HP, Inc. (collectively “HP”) with
an effective date of January 31, 2016, as amended, by which 3DN has the right to exercise an option to purchase certain electrokinetic
display technology and associated patents from HP;

 

WHEREAS, Eastman has expertise in the development and production
of applied films and interlayers for automobile windows and may be interested in licensing rights to such electrokinetic display
technology and associated patents that 3DN may purchase from HP;

 

WHEREAS, 3DN and Eastman desire to jointly develop electrokinetic
films and determine their suitability for commercial use in applied films and interlayers for automobile windows; and

 

WHEREAS, Eastman is interested in having Exclusive Access to
electrokinetic display technology within the Eastman Field during the Term of this Agreement, as well as an Exclusive Option to
purchase an exclusive license within the Eastman Field to certain electrokinetic display technology and associated patents that
3DN may purchase from HP.

 

NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein, the Parties hereto agree as follows:

 

ARTICLE 1 DEFINITIONS

 

As used herein, the following terms shall have the following
meanings:

 

		1.1	“Background IP” means all of the Intellectual
Property, including all information, know-how and knowledge (whether patented or not) owned, possessed, or controlled by a Party
at the Effective Date or that a Party may obtain or develop independently of the activities under this Agreement, in each case
that is necessary to fulfill an obligation under an SOW issued pursuant to this Agreement.

 

		1.2	“Development Period” and/or “Term”
means the period from and after the Effective Date through and including January 31, 2020.

 

		1.3	“Development Program” means the Parties’
activities under this Agreement to develop cicctrokinetic films and methods of producing them and determine their suitability
for commercial use in applied films and interlayers for automobile windows, the specifics of which will be determined and agreed
upon by the Parties and memorialized in an SOW or series of SOWs.

 

		1.4	“Eastman Background IP” means Background IP
owned, possessed, or controlled by Eastman as of the Effective Date.

 

		1.5	“Eastman Field” means applied films and interlayers
for automobile windows.

 

		1.6	“Effective Date” means the date first herein
above appearing in this Agreement and shall be the Effective Date of this Agreement.

 

		1.7	“Exclusive Access” means sole access within
the Eastman Field to electrokinetic technology owned, possessed, or controlled by 3DN. Notwithstanding this Article 1.7, 3DN reserves
the right to provide access to and enter into a license to 3DN Background IP, outside the Eastman Field, with a current or future
3DN investor not in direct competition with Eastman or any of its subsidiaries.

 

		1.8	“Exclusive Option” means the exclusive right
during the Term and either (i) for six months thereafter or (ii) six months after 3DN purchases the below-referenced HP technology
and patents, whichever period ends later, for Eastman to purchase, at commercially reasonable terms negotiated in good faith,
an exclusive license in the Eastman Field from 3DN to certain electrokinetic technology and associated patents. Such exclusive
license will also be subject to any license rights granted by or to HP prior to the purchase, provided such license rights were
granted by or to HP without 3DN knowledge or consent.

 

     

     

    

 

		1.9	“3DN Background IP” means Background IP owned,
possessed or controlled by 3DN as of the Effective Date.

 

		1.10	“Intellectual Property” or “IP”
means intellectual property rights or similar proprietary ownership rights or interests in any jurisdiction including, but not
limited to: trademarks; patents; ideas, inventions, invention disclosures or reports, discoveries or improvements (whether patented
or patentable or not); trade secrets or know-how; copyrights; and any goodwill associated with the foregoing.

 

		1.11	“Invention” or “Inventions” means
any development, idea, invention, article, method, process, technique, discovery or improvement (whether patentable or not) relating
to the Product and manufacturing processes that is conceived or reduced to practice in the course of the Development Program.

 

		1.12	“Joint Invention(s)” means any Invention that
is conceived or reduced to practice jointly by employees, agents or contractors of both Parties during the term of this Agreement.

 

		1.13	“Product(s)” means electrokinetic applied films
or interlayers for automobile windows.

 

		1.14	“Program Fee” means, with respect to the Term,
the total sum of a nonrefundable fee of Three Hundred Fifty Thousand Dollars ($350,000); with a first payment of One Hundred Twenty-Five
Thousand Dollars ($125,000) promptly following execution and delivery of this Agreement by the Parties, a second payment of One
Hundred Twenty-Five Thousand Dollars ($125,000) upon delivery of at least two (2) samples meeting specifications reasonably acceptable
to the Parties, which 3DN acknowledges and agrees will be delivered to Eastman within six (6) months of the Effective Date, and
the remaining One Hundred Thousand Dollars ($100,000) upon the first anniversary of the Effective Date of this Agreement.

 

		1.15	“Project IP” means any Intellectual Property
created in connection with the Development Program, including any services performed under an SOW.

 

		1.16	“Statement
                                         of Work” or “SOW” means a document negotiated and agreed by the Parties
                                         substantially in the form set forth as Exhibit A attached hereto and made
                                         a part hereof.

 

ARTICLE 2 PURPOSE, RESPONSIBILITES &
EXCLUSIVITY

 

		2.1	During the Development Period, each Party agrees to cooperate
and work exclusively with the other Party under the Development Program and each SOW within the Eastman Field and use reasonable
efforts to successfully complete the objectives outlined in the SOW in accordance with the terms and conditions of this Agreement.

 

		2.2	All expenses necessary for the Development Program during
the Development Period shall be borne by the Party incurring the cost for its share of work in the Development Program as stipulated
in Article 2.1.

 

		2.3	Outside of the Development Program, either Party, at its
sole discretion, may:

 

		(A)	Conduct any research or development work in any field whatsoever
independently of the other Party outside the course of performance under the Development Program, whether by itself or in collaboration
with a third party;

 

		(B)	Continue existing commitments or to make new ones; and

 

		(C)	Use, exploit (including via sublicensing), commercialize
or otherwise take advantage of its own Intellectual Property, including Background IP, provided such use is not in contradiction
with the terms of this Agreement.

 

ARTICLE 3 STEERING TEAM

 

		3.1	3DN and Eastman agree to establish a steering team (the
“Steering Team”) to implement this Agreement and serve as the first arbitrator for any disputes arising under, out
of or relating to this Agreement. The Steering Team will include one (1) representative from each of the Parties. The initial
Steering Team is set forth on Exhibit B attached hereto and made a part hereof. The Steering Team will meet regularly, but no
less frequently than quarterly, to monitor and discuss, inter alia, the direction and progress of the Development Program,
any need to alter, change or supplement the direction of the Development Program, coordinate any patent application drafting,
prosecution or maintenance, and the overall success of the Parties’ efforts. Such meetings may be conducted in person, by
video/telephone conference or such other method as the Steering Team deems appropriate.

 

		3.2	If the Steering Team is unable to resolve a dispute referred
to it according to Article 3.1, then the Steering Team will refer the dispute to senior management of 3DN and Eastman for resolution.

 

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		3.3	3DN and Eastman will each appoint a Program Leader who
will be responsible for the day to day operation of activities in furtherance of the Development Program. The Program Leaders
will provide written reports to the Steering Team on a periodic basis, but not less frequently than quarterly. A Party may change
its Program Leader upon notice to the other Party.

 

		3.4	Transmittal of the written reports shall be made through
secure email, registered mail, or other confidentially secure means.

 

ARTICLE 4 INTELLECTUAL PROPERTY & INVENTIONS

 

		4.1	Ownership of Project IP:

 

		(A)	3DN shall continue to own or possess 3DN Background IP
and is free to use it in any field for any purpose.

 

		(B)	All right title and interest in Inventions made solely
by 3DN during the Term of this Agreement shall be owned solely by 3DN with an irrevocable and permanent exclusive license to Eastman
within the Eastman Field, including the right to make and have made.

 

		(C)	Eastman shall continue to own Eastman Background IP and
is free to use it in any field for any purpose.

 

		(D)	All right title and interest in Inventions made solely
by Eastman during the Term of this Agreement shall be owned solely by Eastman with an irrevocable and permanent exclusive license
to 3DN outside the Eastman Field, including the right to make nad have made.

 

		(E)	Joint Invention(s) shall be owned by 3DN, with an irrevocable
and permanent exclusive license ID Eastman within the Eastman Field, including the right to make and have made .

 

		4.2	During the Term of this Agreement, 3DN and Eastman may
exchange, at their exclusive and individual discretion, their respective Background IP. If the Background IP is considered by
a Party to be a trade secret and is maintained as a trade secret, then such Party shall not be obligated to supply such Background
IP to the other Party, unless the use of such trade secret is necessary, in the trade secret owner’s estimation, to achieve
the purposes of the Development Program. If a Party determines that disclosure of a trade secret is necessary for the Development
Program, then that Party will notify the Steering Team for a determination of the appropriate action that the Parties will take
in order to adequately protect the trade secret.

 

		4.3	During the Development Program, each Party grants to the
other Party a worldwide, non-exclusive and royalty-free license in and to its Inventions, Joint Inventions, and Background IP
that may be necessary or useful solely to pursue research and development activities in support of the Development Program.

 

		4.4	Each Party shall, without delay, inform the other Party
in writing of each and every Invention that arises in a Party’s activities in support of the Development Program and, where
appropriate, transmit the specifications and drawings relating thereto.

 

		4.5	If any Invention developed by either 3DN or Eastman is
capable of being patented in any country, the Party owning such Invention shall be entitled to apply for such patent in its own
name and at its own expense.

 

		4.6	If 3DN decides that 3DN will not apply for a patent to
which it is entitled to apply or prosecute or maintain a patent application or patent it owns hereunder, 3DN will promptly notify
Eastman of its decision and offer Eastman the opportunity to own the invention, patent application or patent and pursue patent
coverage or maintain the patent at Eastman’s sole expense. If Eastman decides that Eastman will not apply for a patent to
which it is entitled to apply or prosecute or maintain a patent application or patent it owns hereunder, Eastman will promptly
notify 3DN of its decision and offer 3DN the opportunity to own the invention, patent application or patent and pursue patent
coverage or maintain the patent at 3DN’s sole expense. In all cases, the first Party shall give the other Party all reasonable
assistance and promptly execute all documents required.

 

		4.7	With respect to the prosecution of any patent applications
or patents directed to Inventions, the Parties intend and agree that this Agreement qualifies as a “joint research agreement”
within the meaning of 35 U.S.C. §100(h) of the United States Patent Code, the scope of which is meant to include all aspects
of the Development activities. This designation is provided solely for purposes of 35 U.S.C. §102(c) and is not intended
to alter the scope of this Agreement beyond what is set forth herein. Any Party prosecuting a United States patent or patent application
will include a statement to the foregoing effect consistent with 35 U.S.C. §102(c)(3).

 

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ARTICLE 5 OTHER AGREEMENTS OF THE PARTIES

 

		5.1	3DN hereby grants Exclusive Access to Eastman during the
Term of this Agreement, as such Term may be extended.

 

		5.2	3DN hereby grants the Exclusive Option to Eastman during
the Term of this Agreement, as may be extended.

 

		5.3	Eastman may elect to extend the Term on a year-by-year
basis (“Extension Period”) by providing written notice of such extension to 3DN at least thirty (30) days prior to
expiration of the Term or at least thirty (30) days prior to expiration of an Extension Period if the Parties are in an Extension
Period. If Eastman elects to extend the Term of this Agreement on a year-by-year basis, Eastman shall pay to 3DN additional consideration
in the amount of One Hundred Thousand Dollars ($100,000) per year extended (the “Extension Fee”). Each Extension Fee
shall accompany the written notice of extension.

 

		5.4	3DN hereby represents and warrants to Eastman as follows:

 

		(A)	3DN is a corporation duly organized, validly existing and
in good standing under the laws of the State of Delaware and has all requisite corporate or similar power and authority to own,
lease and operate its assets and to carry on its business as now being conducted.

 

		(B)	3DN has full power and authority (including full corporate
or other entity power and authority) to execute and deliver this Agreement and all related agreements contemplated hereby to which
it is or will be a party and to perform its obligations hereunder and thereunder.

 

		(C)	The execution, delivery and performance by 3DN of this
Agreement and all related agreements contemplated hereby to which it is or will be a party have been duly authorized by 3DN.

 

		(D)	This Agreement constitutes the valid and legally binding
obligation of 3DN, enforceable against 3DN in accordance with its terms and conditions, subject to applicable bankruptcy, insolvency,
moratorium or other similar laws relating to creditors’ rights and general principles of equity.

 

		(E)	Neither the execution and delivery of this Agreement nor
the consummation of the transactions contemplated hereby or thereby (including the related agreements), will (i) conflict with
or result in a breach of the certificate of incorporation or bylaws, or other organizational documents of 3DN, (ii) violate any
law or decree to which 3DN, or its assets or properties are subject, or (iii) conflict with, result in a breach of, constitute
a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify or cancel, or require
any notice under any contract to which 3DN is a party or by which it is bound in respect of 3DN’s business or to which any
of 3DN’s assets is subject. 3DN is not required to give any notice to, make any filing with, or obtain any authorization,
consent or approval of any governmental authority or any other party, including HP, in order for the Parties to consummate the
transactions contemplated by this Agreement or any related agreement.

 

		5.5	Eastman hereby represents and warrants to 3DN as follows:

 

		(A)	Each of Eastman Chemical Company, Solutia Inc., and Southwall
Technologies Inc. is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware
and has all requisite corporate or similar power and authority to own, lease and operate its assets and to carry on its business
as now being conducted.

 

		(B)	Eastman has full power and authority (including full corporate
or other entity power and authority) to execute and deliver this Agreement and all related agreements contemplated hereby to which
it is or will be a party and to perform its obligations hereunder and thereunder.

 

		(C)	The execution, delivery and performance by Eastman of this
Agreement and all related agreements contemplated hereby to which it is or will be a party have been duly authorized by Eastman.

 

		(D)	This Agreement constitutes the valid and legally binding
obligation of Eastman, enforceable against Eastman in accordance with its terms and conditions, subject to applicable bankruptcy,
insolvency, moratorium or other similar laws relating to creditors’ rights and general principles of equity.

 

		(E)	Neither the execution and delivery of this Agreement nor
the consummation of the transactions contemplated hereby or thereby (including the related agreements), will (i) conflict with
or result in a breach of the certificate of incorporation or bylaws, or other organizational documents of Eastman, (ii) violate
any law or decree to which Eastman, or its assets or properties are subject, or (iii) conflict with, result in a breach of constitute
a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify or cancel, or require
any notice under any contract to which Eastman is a party or by which it is bound in respect of Eastman’s business or to
which any of F.astrnan’s assets is subject. Eastman is not required to give any notice to, make any filing with, or obtain
any authorization, consent or approval of any governmental authority or any other party, in order for the Parties to consummate
the transactions contemplated by this Agreement or any related agreement.

 

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		5.6	3DN hereby covenants and further agrees as follows:

 

		(A)	3DN will not enter into any agreements or commitments which
would conflict in any manner with the obligations of 3DN under this Agreement or the rights being granted to Eastman under this
Agreement.

 

		(B)	3DN will not transfer or waive any of its rights under
its agreements with HP, including the HP Agreement, with respect to the rights being granted to Eastman under this Agreement
without Eastman’s prior written consent

 

		(C)	3DN will promptly notify Eastman in the event of any breach
or default by 3DN under its agreements with HP, including the HP Agreement.

 

		(D)	3DN will use reasonable efforts to fulfill its obligations
and discharge all of its liabilities under its agreements with HP, including the HP Agreement and will use reasonable efforts
to ensure that any of its employees who were formerly employed by HP will honor all of their respective obligations to HP.

 

		(E)	3DN will not amend its agreements with HP in any manner
which could adversely affect the rights being granted to Eastman under this Agreement without Eastman’s prior written consent.

 

		(F)	3DN will exercise the Assignment Option (as defined in
the HP Agreement) and pay the remainder of the Purchase Price (as defined in the HP Agreement) upon written notice from Eastman
at any time from and after January 1, 2019, with reimbursement by Eastman of fifty percent (50%) of the remaining Purchase Price.
Such reimbursement by Eastman shall be paid to 3DN within 3 (three) business days of the payment from 3DN to HP.

 

ARTICLE 6 CONFIDENTIALITY

 

		6.1	During the Term of this Agreement and for seven (7) years
thereafter, each Party undertakes to use all documents, data and information of any kind, (collectively “Confidential Information”),
supplied by the other Party under this Agreement only in furtherance of the Development Program and to hold all such Confidential
Information in trust and strict confidence and not to disclose it to any other person or party, except that the Recipient may
disclose the Confidential Information to those of its officers, directors, employees, agents, advisors or consultants who need
access to the Confidential Information to accomplish the objectives of this Agreement and who are bound in writing to confidentiality
with respect to such Confidential Information. Neither Party will reproduce received confidential information or incorporate it
into derivative works, patent applications, or notes unless necessary to achieve the goals of the Development Program.

 

		6.2	With respect to any samples provided, the receiving Party
agrees to (a) hold such samples in confidence, (b) not transmit such samples to any third Party without the prior written consent
of the disclosing Party, and (c) not to sell or use such samples either commercially or for any purpose not specifically contemplated
by this Agreement.

 

		63	A receiving Party owes no duty to the disclosing Party
with respect to information that: a) is known to receiving Party at the Effective Date; b) is or becomes known to the public without
breach of this Agreement by the receiving Party; or c) is disclosed to receiving Party by a third Party having a bona fide right
to disclose it.

 

		6.4	Information shall not be deemed to be within an exception
listed in Article 6.3 above merely because the feature is embraced by more general information deemed to be within the exceptions.
A combination of features of confidential information shall not be considered to be within the exceptions unless the precise combination
itself and its principle of operation are within the exceptions.

 

		6.5	Upon expiration or termination of this Agreement, and upon
request of the disclosing Party, the receiving Party shall return to the disclosing Party all documents and tangible objects containing
or reflecting data and information of any kind, including Background IP, except that the receiving Party may retain one (1) archival
copy for the sole and exclusive purpose of administering its obligations hereunder.

 

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ARTICLE 7 TERM & TERMINATION

 

		7.1	The Term and Development Period of this Agreement may only
be extended by mutual written agreement of the Parties.

 

		7.2	If a Party fails or neglects to keep, observe, or perform
any provisions set forth herein, then the other Party may notify such Party in writing of such breach stating the nature of such
breach. If the failure remains unremedied for ninety (90) days or more from the notification, then the other Party may terminate
this Agreement by giving a written notice of such termination.

 

		7.3	Any and all license rights granted in Article 4.3 shall
cease immediately in the event of expiration or termination of this Agreement pursuant either to Article 7.1 or Article 7.2. A
Party retains the right, however, to use its own Background IP and Inventions that it owns hereunder in any field for any purpose
subject to the licenses surviving hereunder.

 

		7.4	Following termination or expiration of this Agreement,
the Parties’ rights and obligations under the following Articles shall survive and remain in full force and effect: Article
4 with the exception of Article 4.3 as specified above, Article 6, Article 8 and Article 9.

 

ARTICLE 8 NOTICE

 

Any notice hereunder shall be deemed given when sent in writing,
and may be given by personal delivery. registered mail, postage prepaid and return receipt requested at the address first set forth
in this Agreement or at such other address or number as may be provided in written notice by either Party.

 

ARTICLE 9 GOVERNING LAW

 

		9.1	This Agreement shall be governed as to all matters, including
the validity, construction and performance by the laws of the State of Delaware and of the USA, without regard to principles of
conflicts of law that would require the application of the laws of any other jurisdiction.

 

		9.2	The Parties shall first attempt to settle any dispute arising
out of or in connection with this Agreement by amicable consultation between the Parties, including a management representative
of each Party who is empowered to settle the dispute in question. Either Party may notify the other Party about any dispute and
its intention to settle it under this Agreement.

 

		9.3	In no event will either Party to this Agreement he liable
to the other for any indirect, special, incidental, or consequential loss or damage arising out of or in connection with this
Agreement as a result of any breach of contract, tort (including negligence), breach of statutory duty, or otherwise.

 

		9.4	United States sourced technical information provided by
one Party to another Party under this Agreement and direct products of such data may be controlled by the United States Export
Control Regulations. No license, implied license, or other approval for export or re-export, directly or indirectly, of such data
or products is hereunder provided. It is the sole responsibility of a Party receiving such data to comply with whatever requirement
the United States government may make for such export or re-export at the time thereof.

 

ARTICLE 10 MISCELLANEOUS

 

		10.1	Neither this Agreement nor any right or obligation hereunder
shall be assignable in whole or in part, whether by operation of laws, or otherwise by either Party without a prior written consent
of the other Party. In case of any amalgamation or sale of either Party, neither this Agreement nor any right hereunder may be
assigned to the successor of such Party.

 

		10.2	No amendment or supplement hereof shall be effective or
binding on either Party hereto unless reduced to writing and executed by the duly authorized representatives of both Parties hereto.

 

		10.3	Neither Party to this Agreement shall be held responsible
for the damages caused by any delay or failure to perform under this Agreement which is the result of any happenings or events
which could not have been reasonably avoided. Such happenings or events shall include, but not be limited to, fire, flood, explosion,
action of the elements, acts of God, accidents, epidemics, inability to obtain or shortage of material or equipment, riots, or
other civil commotion, war, enemy action, or the acts, demands or requirements of the Government of Austria or the United States.

 

		10.4	This Agreement may be executed in one or more counterparts,
each being an original, and when taken together constitute one and the same instrument. An electronic copy of a signature of the
Agreement shall be effective in all respects.

 

		10.5	Each party warrants that as of the Effective Date it possesses
all rights and full power and authority required to enter into this Agreement, to undertake the rights and obligations set forth
herein, and to perform according to its terms.

 

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IN WITNESS WHEREOF, the Parties have caused this Agreement to
be executed on the day and year first above written.

 

	3D NANOCOLOR CORP.	 	EASTMAN CHEMICAL COMPANY
	 	 	 
	Sign:	/s/ Tim Koch	 	sign:	/s/ Dante Rutstrom
	Name: 	Tim Koch	 	Name: 	Dante Rutstrom
	Title: 	
        CTO

         
	 	Title: 	Vice President, Advanced Materials Technology 
	 	 	 	 	 
	 	8/23/17	 	 	8/23/17

 

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EXHIBIT
A

 

FORM OF STATEMENT OF WORK

 

Statement of Work No. —

 

This SOW No. ___ effective as of [                         ]
(the “SOW Effective Date”), is between 3D Nanocolor Corp. (“3DN”) located at 1110 NE Circle Blvd.,
Corvallis, OR 97330 and Eastman Chemical Company, acting on behalf of itself and its affiliates, located at P.O. Box 431, 200
South Wilcox Drive, Kingsport, TN 37662-5280 (“Eastman”) pursuant to the terms in that certain Collaboration
Agreement (the “Collaboration Agreement”) between the Parties dated [                        ].
This SOW No. is subject to the terms in the Collaboration Agreement except as expressly set forth in this SOW No.        .

 

		1.	Definitions.
                                         Terms defined in the Collaboration Agreement shall have the same meaning when used
                                         in this SOW No.      .

 

		2.	Scope of this SOW.

 

		3.	SOW Schedule and SOW Milestones.

 

		4.	Deliverables.

 

		5.	Project Managers.

 

		●	3D Nanocolor — TBD.

 

		●	Eastman — TBD.

 

		6.	Project Team.

 

		●	3D Nanocolor — TBD.

 

		●	Eastman — TBD.

 

		7.	Steering
                                         Team. [If different from Master Collaboration Agreement]

 

		8.	Development Costs.

 

		9.	Specifications. [if necessary.]

 

		10.	Other Terms. [If necessary.]

 

In Witness Whereof, the Parties have executed this SOW No. as
effective as of the SOW Effective Date.

 

	3D Nanocolor Corp.	 	Eastman Chemical Company
	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Printed Name: 	 	 	Printed Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

     

     

    

 

EXHIBIT B

 

STEERING TEAM

 

<Steering Team>

 

	3D NANOCOLOR CORP.	EASTMAN
	 	 
	 Name:	Name:
	 	 
	 Title:	Title:

 

<Program Leader>

 

	3D NANOCOLOR CORP.	EASTMAN
	 	 
	 Name:	Name:
	 	 
	 Title:	Title:

 

     

     

    

 

First
Amendment to Collaboration Agreement

 

This
First Amendment to Collaboration Agreement (“First Amendment”) is made and entered into as of August 21, 2018, by
and between Crown Electrokinetics Corp., a Delaware corporation having its principal place of business at 1110 NE Circle Blvd.,
Corvallis, OR 97330 and formerly known as 3D Nanocolor Corp. (“Crown”) and Eastman Chemical Company, a Delaware corporation
having its principal place of business at 200 South Wilcox Drive, Kingsport, Tennessee 37660 USA, on its behalf and on behalf
of its wholly owned subsidiaries Solutia Inc. and Southwall Technologies Inc. (hereinafter collectively referred to as “Eastman”);
each of the foregoing individually a “Party” and collectively “Parties”.

 

Whereas,
Crown and Eastman are parties to that certain Collaboration Agreement dated August 23, 2017 (the “Agreement”);

 

Whereas,
on October 6, 2017, 3D Nanocolor Corp. changed its name to Crown Electrokinetics Corp.; and

 

Whereas,
The Parties agree to amend certain terms of the Agreement as more particularly described in this First Amendment.

 

Now
therefore, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

		1.	Amendment
                                         to Section 1.14 of the Agreement. Section 1.14 of the Agreement is hereby deleted
                                         in its entirety and restated to read as follows:

 

1.14
“Program Fee” means, with respect to the Term, the total sum of a nonrefundable fee of Three Hundred Fifty Thousand
Dollars ($350,000); with a first payment of One Hundred Twenty-Five Thousand Dollars ($125,000) promptly following execution and
delivery of this Agreement by the Parties, a second payment of One Hundred Twenty-Five Thousand Dollars ($125,000) on or before
June 2018, and the remaining One Hundred Thousand Dollars ($100,000) upon delivery of at least two (2) samples meeting specifications
reasonably acceptable to the Parties and upon completion of item 4b (line 19 on the ghant chart) included in the Statement of
Work set forth in section 1.16.”

 

		2.	Amendment
                                         to Exhibit A to the Agreement. Exhibit A to the Agreement is hereby
                                         deleted in its entirety and replaced with Exhibit A attached to this First Amendment
                                         and made a part hereof.

 

		3.	Amendment
                                         to Section 1.16 of the Agreement. Section 1.16 of the Agreement, is hereby deleted
                                         in its entirety and restated to read as follows:

 

1.16
“Statement of Work” or “SOW” means a document negotiated and agreed by the Parties in the form signed
by the Parties and set forth as Exhibit A attached hereto and made a part hereof.”

 

		4.	Effect
                                         of First Amendment. The Agreement, as amended by this First Amendment, is hereby
                                         ratified, confirmed and deemed in full force and effect in accordance with its terms.
                                         Each Party
hereby represents to the other Party that such Party has full power and authority to execute and deliver this First Amendment
and this First Amendment represents a valid and binding obligation of such Party enforceable in accordance with its terms.

  

    Page 1 of 3

     

    

 

		5.	Final
                                         Understanding. The Agreement, as amended by this First Amendment, represents the
                                         final understanding between the Parties with respect to the subject matter hereof and
                                         the obligations of each Party hereunder cannot be changed or modified unless by writing
                                         signed by the Parties. There are no promises, agreements, terms, conditions, or obligations
                                         other than those contained herein; and the•Agreement, as amended by this First Amendment
                                         shall supersede all previous communications, representations, or agreements, oral or
                                         written, and courses of dealing between the Parties with respect to the subject matter
                                         hereof.

 

		6.	Governing
                                         Law. This First Amendment shall be governed as to all matters, including the validity,
                                         construction and performance by the laws of the State of Delaware and of the USA, without
                                         regard to principles of conflicts of law that would require the application of the laws
                                         of any other jurisdiction.

 

		7.	Counterparts.
                                         This First Amendment may be executed in one or more counterparts, each of which shall
                                         be deemed an original but together constitute one and the same instrument, with the same
                                         effect as if both of the Parties to this First Amendment had executed the same counterpart.

 

		8.	Electronic
                                         Signatures. Each of the Parties (i) has agreed to permit the use of telecopy or other
                                         electronic signatures in order to expedite the transaction contemplated by this First
                                         Amendment, (ii) intends to be bound by its respective telecopy or other electronic signature,
                                         (iii) is aware that the other will rely on the telecopy or other electronically transmitted
                                         signature, and (iv) acknowledges such reliance and waives any defenses to the enforcement
                                         of this First Amendment and the documents affecting the transaction contemplated by this
                                         First Amendment based on the fact that a signature was sent by telecopy or electronic
                                         transmission only.

 

	CROWN ELECTROKINETICS CORP.	EASTMAN CHEMICAL COMPANY
	 	 	 	 	 
	Sign:	/s/ Tim Koch	 	Sign:	/s/ B. Travis Smith
	Name:	Tim Koch	 	Name:	B. Travis Smith
	Title	CTO	 	Title:	VP & GM

 

    Page 2 of 3

     

    

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit
A

Form
of Statement of Work

 

 

 

 

 

 

 

 

 

 

 

 

    Page 3 of 3

     

    

 

 

Statement
of Work revised August 2018

 

	Partners:	Crown
    Electroldnetics Corp (CEK)
	 	Eastman
    Chemical Company (EMN)

 

		1	Definitions

 

		a.	Glass
                                         laminate: glazing construction where the switchable component is laminated between
                                         two glass panels, including electrical connections to control unit; “Interlayer”
                                         [IL]

 

	 	b.	Applied Window Film:
    glazing construction where the switchable component is applied onto the surface for an existing glass panel, with sufficient
    environmental protection and Installability, and including electrical connections to control unit; “Applied Window Film”
    [AWF]

 

	 	c.	Sheet-to-sheet [S2S]:
    production of samples in small volume from individual sheets (approximately letter-sized or smaller) in a primarily manual
    batch process

 

	 	d.	Roll-to-Roll
    (R2R]: production of samples at higher volume in an automated coater

 

	 	e.	Fitness-for-Use
    [FFU]: ability of a sample to comply with various performance criteria that are derived from the product’s intended
    use. Performance criteria can be regulatory specifications, industry standards, OEM specifications, or proprietary standards

 

	 	f.	Failure
    Mode Effects Analysis [FMEA]

 

		2	Scope
                                         of this SOW

 

	 	a.	Sale-up
                                         of SON technology to an automotive glazing product In the form of

                                                                               

                                                                               

 

		i.	a
                                         glass laminate that meets or exceeds automotive Industry “Fitness For Use”
                                         (FFU) standards and meets acceptance/endorsement from an automotive OEM or a Tier-1 automotive
                                         glazing supplier and/or (?)

 

		ii.	(b)
                                         an automotive post-applied window film that meets Eastman’s internal FFU requirements.

 

		b.	Identify
                                         the preferred initial target market and technical challenge to prioritize glass laminate
                                         or applied film as Initial development target.

 

		3	SOW
                                         Schedule (also see Gantt Chart attached hereto and made a part hereof)

 

		1.	Scale
                                         to 6” wide R2R embossing capability [3DN]

 

		1.1.	Set
                                         up 6” R2R embosser; Consider fit for 24” wide downstream processing for full-cell

 

3DN
to activate mothballed 6” wide 132R embossing tool. Initial output will be sheets for S2S performance validation of functional
cells.

 

Assess
embossing capability for seamless random-length patterns: 3DN to propose technical options, sourcing, and cost Impact. 3DN to
propose timeframe for technical implementation as port of scale-up.

 

Assess
concepts towards compliance with cross-curvature glazing geometries: 3DN to propose technical/materials options and early-stage
assessment methods as part of later-stage FEU refinement.

 

    	 	EASTMAN CONFIDENTIAL	Page 1/6

     

    

 

 

		2.	Performance
                                         validation of 6” wide S2S prototypes—initial & gap analysis [EMN-10]

 

Early
testing of critical FFU parameters on functioning cells of sufficient form factor and from S2S prototyping to determine critical
performance gaps that may guide pre-scale-up material set development needs.

 

	 	3.	Material
    Set Refinement at 6”, S2S scale [CEK] toward R2R, including Adhesive

 

Address
identified performance gaps through modifications of product design and/or material set. Project partners to focus on their respective
field of expertise.

 

Initial
work on S2S, then extend scope towards 6” R2R material set compatibility, and extend scope further towards 24” wide
as hardware capability develops.

 

Anticipate
continuous material set refinement throughout entire program

 

	 	4.	FFU
    / performance validation - refined material set [EMN-I0, especially for structural integrity]

 

Initial
FFU validation with particular focus on structural properties of laminates from initial S2S fabrication at larger sample formats.
Although manufactured R2R, material set should anticipate R2R compatibility.

 

Initial
structural Integrity assessment important to guide embossing pattern and adhesive material development.

 

Assessment
to include cross-curvature compatibility.

 

	 	5.	Identify
    the preferred initial target market and technical challenge to prioritize IL vs. AWF as initial development target including
    value chain / product integration analysis [EMN]

 

EMN
business development to prioritize product format, value chain and channel; choice of IL vs. AWF determines scale-up, product
performance metrics, channel partners, and market implementation path.

 

	 	6.	R2R
    process analysis for adhesive transfer & ink application under EMN control & concept proposal [EMN]

 

		6.1.	Current
                                         capabilities & gaps (assets, environment/quality (cleanroom), Industry standards
                                         compliance) (internal / external)

 

Analyze
process performance needs for R2R process sequence “owned” by EMN (adhesive transfer & Ink application); initial
assumptions largely rely on 3DN S2S

 

manufacturing
flow with conceptual projection towards R2R capability.

 

Assess
current internal and external capabilities at up to 24” width.

 

Gap
analysis between “needs” and “capabilities” identifies focus areas for scale-up engineering. Plan assumes
small/moderate modifications to EMN-internal assets implementable within 4-5 months. Extensive asset performance discrepancies
may delay the R2R scaling plan.

 

		6.2.	Asset
                                         modification analysis & engineering proposal: 6” R2R

 

		6.3.	R2R
                                         Scaling path engineering proposal— 6” to 24” (final automotive product)
                                         6.4, R2R - initial 6” wide adhesive transfer & ink application process implementation

 

R2R
process development based an material properties, including any required asset configuration adjustments, to produce laminate
cells with sufficient structural integrity that allow structural integration Into operable glazing concepts.

 

		6.5.	Initial
                                         R2R 6” wide all-R2R demonstration

 

R211 production of operable prototype
devices

 

    	 	EASTMAN CONFIDENTIAL	Page 2/6

     

    

 

 

		7.	R2R
scaling to 24” width

 

		7.1.	Seamless
Embossing to 12” width (external to EMN —CEK-driven) — initial iteration

 

Assess
embossing capability for seamless random-length patterns: CEK to propose technical options, sourcing, cost impact; confirm technical
demonstration schedule.

 

		7.2.	12”
wide adhesive transfer & ink application process implementation

 

		7.3.	Seamless
Embossing to 24” width (external to EMN —30N-driven) — initial iteration

 

Assess
embossing capability for seamless random-length patterns: 3DN to propose technical options, sourcing, cost impact; confirm technical
demonstration schedule.

 

		7.4.	24”
wide adhesive transfer & ink application process implementation

 

		7.5.	Seamless
Embossing to 24” width (external to EMN — 3DN-driven) — continuous Improvement

 

Anticipate
need for continuous improvement either from cell geometry changes, structural analysis, R2R process constraints or similar insights.

 

		7.6.	24”
wide adhesive transfer & ink application process—material/yield improvement

 

Continuous
material- and process improvement to increase yield and reduce manufacturing cost.

 

	 	8.	Scale-up: R2R 24”
    wide all-R2R demonstration (adhesive transfer & ink application)

 

	 	9.	FFU
validation alongside scale-up

 

		9.1.	FFU validation alongside scale-up

 

FFU
analysis to guide scale-up process development (process & material set).

 

		9.2.	Long-term
durability program for chosen product format (AWF or IL)

 

FFU
analysis toward qualification of a functioning product demonstrator, either AWF (minimum 6 months) or IL (up to 24 months)

 

	 	10.	Installability / glazing
    Integration compatibility analysis & development

 

With
initial functioning prototypes, add necessary product integration functionality at internal small-scale development / prototyping
level (e.g. laminating adhesive for AWF, PV6 & de-air etc. processing for IL)

 

	 	11.	Manufacturability
    readiness review/yield analysis

 

From
internal prototyping work, conduct FMEA to review “go-to-market” and channel partner (e.g. glazing integrator) Issues,
revise economics/business case analysis

 

	 	12.	Kitting
    path of downstream application: singulation, edge sealing, busbar/edge contact (glass laminate and/or applied window film)

 

Develop/demonstrate
on prototype level critical concepts for product configuration and functional integration that can be adapted by channel partners.
Initial work to start with CEK-generate S25 samples, and later with R2R samples from EMN lamination development In 12” and
24” formats

 

    	 	EASTMAN CONFIDENTIAL	Page 3/6

     

    

 

 

 

	 	13.	Involve glazing supplier
or automotive OEM for glazing integration (after 24” demonstration)

 

Involve commercial channel partner for product integration
scale-up, and provide adequate engineering guidance, metrology and FFU analysis, and material/sample supply.

 

	 	14.	Build & show full-size / real-life product demonstrators for OEM adoption

 

Involve commercial channel partner to fabricate
product demonstrator and prepare for automotive OEM model Implementation discussions.

 

		15.	Contract Continuation / Commercialization negotiation and
review

 

		4	Milestones/ Deliverables

 

(unless indicated otherwise, Milestones are achieved when their
listed Deliverables have been completed and accepted. Certain milestones are fixed/calendar-driven per the collaboration agreement,
other milestones capture technical progress goals)

 

	 	ID	 	Target
    Date	 	Deliverables
	 	 	 	 	 	 
	 	a	 	23-Feb-2018 

(actual 30- 

May-2018)	 	
        i. 2 pristine 6“x6” in-glass-laminated prototypes
        with driver.... (see notes)

        ii. Initial cost projection (at projected embossing / printing
        productivity/capacity)

        iii. Adhesive application / ink print readiness analysis

	 	 	 	 	 	 
	 	b	 	15-Jan-2019	 	
        i. Continuous length
        capability demonstration; R2R 6” process demonstration subject to EMN-controlled adhesive & ink application capability
        availability

        ii. Revised cost projection
        (at projected embossing / printing productivity/capacity)

        iii. identify the preferred
        initial target market and technical challenge to prioritize glass laminate or applied film as initial development target

	 	 	 	 	 	 
	 	c	 	23-Aug-2018	 	
        [fixed/calendar-driven Milestone]

        i. lst anniversary

	 	 	 	 	 	 
	 	d	 	01-Jan-2019	 	i. Review of HP IP options/schedule [peed/calendar-driven Milestone]
	 	 	 	 	 	 
	 	e	 	20-Dec-2029	 	
        i. Accelerated durability demonstrated: (electrical, chemical,
        thermal, WOM etc.) Advanced assessment for both proposed use cases— IL & AWF

        ii. 12” and 24” width R2R capability demonstration
        of operational devices

        iii. Singulation & kitting concept demonstration —12”
        width

	 	 	 	 	 	 
	 	f	 	31-Aug-2019	 	
        i. Initial performance FFU check “touch point” with
        automotive OEM

        ii. FFU validation for glazing-integrated devices —advanced
        stage

        iii. Manufacturability readiness & yield analysis assessment
        for 24” width

        iv. Kitting technique developed for 24”

 

    	 	EASTMAN CONFIDENTIAL	Page 4/6

     

    

 

 

	 	g	 	30-Nov-2020	 	
        i. Application integration demonstration — Including kitting
        for true auto glazing format (initial target application, IL or AWF)

        ii. High-yield demonstration R2R cell fabrication

        iii. Thorough accelerated durability demonstrated: x thousand
        cycles (electrical, chemical, thermal, WOM etc.) minus large-area lamination

        iv. Prototype presentation to glazing supplier or automotive
        OEM

	 	 	 	 	 	 
	 	h	 	01-Nov-2019	 	
        [fixed / calendar-driven Milestone]

        i. Review regarding Term extension (30-day notice)

	 	 	 	 	 	 
	 	i	 	31-Dec-2019	 	
        (fixed/calendar-driven Milestone)

        i. 30-Day notice deadline for contract continuation

	 	 	 	 	 	 
	 	j	 	31-Jan-2020	 	
        [fixed / calendar-driven Milestone]

        i. Agreement expires

        ii. Quantity of 10
        true auto glazing integration samples (initial target application, IL or AWF)

 

Table 1: Milestones/Deliverables

 

		5	Project Managers

		a.	Crown Electro-Kinetic: Tim Koch

		b.	Eastman Chemical Co.: C. Stoessel

 

		6	Project Team

		a.	Crown Electro-Kinetic: T. Koch, J. Abbott, A. Jeans, J.
Douvikas

		b.	Eastman Chemical Co.: C. Lester, F. Koran, M. Tran, Y.
Dai, Y. Farrow, R. Wipfier

 

		7	Steering Team [if
                                         different from Master Collaboration Agreement]

		a.	Crown Electra-Kinetic: T. Koch, J. Douvikas

		b.	Eastman Chemical Co: D. Honeycutt, B. King, [tbd]

 

		8	Development Costs

		a.	Crown Electro-Kinetic: [tbd]

		b.	Eastman Chemical Co: [tbd]

		c.	Unless negotiated otherwise, each project partner bears
Its own development cost

 

		9	Specifications [if
                                         necessary]

		a.	Automotive Fitness For Use i. Common

		1.	Switching time:

		a.	Bleach-to-Dark:

		b.	Dark-to-Bleach:

		2.	Intermediate switching states:

		3.	Stability (number of cycles) and degradation range:

		a.	Room Temp:
		b.	+70°C:
		c.	-20°C:

    	 	EASTMAN CONFIDENTIAL	Page 5/6

     

    

 

 

		4.	Color (Target and color box):

		a.	Dark: Ra*/b*

		b.	Bleach:

		i.	Ra*/Rb*

		ii.	Ta*/Tb* 

		5.	Haze (bleach state): <5%

		6.	Electrical (at lm x 1m):

		a.	Operating voltage:

		b.	Max / Peak Voltage:

		c.	Power Consumption —state change:

		d.	Power Consumption —state hold/park:

		7.	Contour / ihtegration compliance:

		a.	Device overall thickness (incl. substrate):

		b.	Cylindrical: bending radius:

		c.	Compound curvature:

		ii.	Glass Laminate

		1.	VLT: dark: bleach:

		iii.	Applied Window Film

		1.	VLT: dark: bleach:

		2.	Scratch resistance:

		3.	Tape Test (adhesion):

		4.	Open Edge Adhesion/delamination test:

 

		10	Other Terms [If
                                         necessary]

 

		11	Acceptance and
                                         Approval

 

	For Crown Etectrokinetics Corp	 	For Eastman Chemical Company
	 	 	 
	Tim Koch	 	B. Travis Smith
	Print Name	 	Print Name 
	 	 	 
	/s/ Tim Koch	 	/s/ B. Travis Smith
	Signature	 	Signature
	 	 	 
	8/22/18	 	8/22/18
	Date	 	Date

 

* * *

 

    	 	EASTMAN CONFIDENTIAL	Page 6/6Exhibit 10.3

 

Agreement

 

This Agreement made and
entered into as of this 15th day of November, 2017 (hereinafter referred to as the “Effective
Date”) by and between, Crown Electrokinetics Corp., a corporation of Delaware, having its principal place of business at 1110
NE Circle Blvd., Corvallis, OR 97330 USA (hereinafter referred to as the “COMPANY”), and Asahi Glass Co., Ltd.,
a corporation of Japan, having its principal place of business at 5-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-8405, Japan
including AGC Business Development Americas, a division of AGC Flat Glass North America, Inc. (collectively hereinafter
referred to as “AGC”),

 

WITNESSETH:

 

WHEREAS, AGC and the COMPANY
wish to evaluate, measure and engage in discussions with the other concerning optical properties and durability of the COMPANY’s
electrokinetic film samples (hereinafter referred to as the “Samples”) for laminated glass for automotive and train (hereinafter
referred to as the “Purpose of this Agreement”), and

 

WHEREAS, in connection with
the Purpose of this Agreement, AGC and the COMPANY envisage that certain disclosure of their confidential information relating
to their respective technologies and businesses will become necessary,

 

NOW, THEREFORE, for and in consideration
of the mutual covenants and agreements herein contained, AGC and the COMPANY hereby covenant and agree as follows:

 

		1.	The COMPANY shall provide two (2) pieces of Samples to AGC in six (6) months from the
                                                                             Effective Date, the specifications of the Samples shall be defined in Attached A and their active area shall be at least four
                                                                             (4) inches by four (4) inches (such Samples hereinafter referred to as the “Samples of Phase 1”).

 

		2.	AGC shall measure optical properties of Samples of Phase 1 in one (1) month from the date AGC
                                                                             receives Samples of Phase 1 provided by the COMPANY.

 

		3.	AGC shall pay to the COMPANY one hundred thousand US dollars (USD 100,000) in total for
                                                                             Samples of Phase 1 within sixty (60) days from the Effective Date. The payment will be made by wire transfer.

 

		4.	In case AGC agrees to measure durability of Samples after the measurement of Samples of Phase
                                                                             1, the COMPANY shall provide twenty (20) pieces of Samples (hereinafter referred to as the “Samples of Phase 2”)
                                                                             to AGC in six (6) months from the date AGC agrees to measure durability of Samples (such date hereinafter referred to as the
                                                                             “Effective Date of Phase 2”). Active area of Samples of Phase 2 shall be at least four (4) inches by four (4)
                                                                             inches and the specifications of the Samples of Phase 2 shall be discussed and determined by AGC and the COMPANY.

 

		5.	AGC shall measure
                                                                                                                                                              durability of Samples of Phase 2 in six (6) months from the date AGC receives Samples of Phase 2 provided by the
                                                                                                                                                              COMPANY.

 

Mutual-1

 

     

     

    

 

		6.	AGC shall pay to the COMPANY two hundred fifty thousand US dollars (USD 250,000) in total
                                                                             for                                                                              Samples of Phase 2 within sixty (60) days
                                                                             from the Effective Date of Phase 2. The payment will be made by wire transfer.

 

		7.	AGC shall provide results of the Purpose of this Agreement
to the COMPANY.

 

		8.	The COMPANY shall update every three (3) months on the
COMPANY’s status of the Purpose of this Agreement to AGC by providing reports and/or teleconference.

 

		9.	The COMPANY shall accept AGC’s visits to the COMPANY’s
facilities.

 

		10.	The COMPANY shall allow Samples to be used and investigated
by AGC in the field of laminated automotive window (hereinafter referred to as the “Field”) and in the Field, the
COMPANY shall not provide Samples to other glass manufacturing companies.

 

		11.	Confidential Information shall mean the fact the parties
hereto work the Purpose of this Agreement, the nature and existence of this Agreement and any information which is related to
the Purpose of this Agreement and:

 

		(a)	disclosed
by the disclosing party to the receiving party in writing (including receipt confirmed facsimiles, e-mails and electronic files,
and memory-disks, hereinafter the same) marked “Confidential”, “Proprietary” or with similar notation,
or

 

		(b)	initially disclosed by the disclosing party to the
receiving party orally, visually or in other intangible form, being identified as confidential at the time of disclosure and a
written summary thereof marked “Confidential”, “Proprietary” or with similar notation is provided to the
receiving party within thirty (30) days from the date of the initial disclosure.

 

		12.	Notwithstanding Section 11, Confidential Information shall
not include any information which the receiving party can establish:

 

		(a)	is generally available to the public as of the date
of this Agreement or becomes generally available to the public through no fault of the receiving party,

 

		(b)	is in the possession of the receiving party prior
to the time of receipt under this Agreement without any obligation of confidentiality,

 

		(a)	is rightfully received by the receiving party from
a third party not in breach of its confidentiality obligations, or

 

		(b)	is developed by the receiving party without reference
to and independently of the Confidential Information.

 

		13.	The receiving party:

 

		(a)	shall
hold Confidential Information in confidence, and not, directly or indirectly, disclose, divulge or leak Confidential Information
to anyone except in accordance with (b) and (c) below,

 

		(b)	may disclose Confidential Information to its employees,
directors or officers, that are directly engaged in and essential for the Purpose of this Agreement; provided, however, that
the receiving party shall be responsible for their compliance with the receiving party’s obligations
set forth in this Agreement,

 

Mutual-2

 

     

     

    

 

		(c)	may disclose Confidential Information if and only
to the extent that such Confidential Information is required to be disclosed by law or by legal order of the diet, government
or court; provided that the receiving party shall immediately notify the disclosing party and exerts all reasonable efforts to
obtain a protective order as if it were its own confidential information, and

 

		(d)	shall not make copies of Confidential Information
except to the extent essential for the Purpose of this Agreement, and when it makes copies in accordance with the foregoing, reproduce
the markings identifying the confidentiality of the original onto the copy.

 

		14.	AGC shall not sell, give, lend or lease the composition
of Samples being designated as confidential. Furthermore, AGC shall allow the Samples to be used only by AGC’s employees,
directors or officers, that are directly engaged in and essential for the Purpose of this Agreement and shall be responsible for
their compliance with the receiving party’s obligations set forth in this Agreement

 

		15.	Notwithstanding anything to the contrary, AGC may disclose
and pass over Confidential Information and the Samples to its subsidiaries, provided AGC binds the subsidiaries to the same degree
as set forth in this Agreement.

 

		16.	Upon the request of the disclosing party, the receiving
party shall return to the disclosing party, all originals and all copies of Confidential Information.

 

		17.	All Confidential Information supplied hereunder shall remain
the sole property of the disclosing party. Nothing herein shall be construed as: (i) granting a right or license, express or implied,
to the receiving party under the disclosing party’s intellectual properties, (ii) granting or implying any indemnification,
for the damages of any kind, sustained by the receiving party or any third party; (iii) granting a warranty of any kind to the
receiving party; (iv) a commitment by .a party to enter into any other agreement with the other party; or (v) creating an obligation
to disclose confidential information. EACH DISCLOSING PARTY HEREBY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
WITHOUT LIMITATION, WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF THIRD PARTY RIGHTS WITH
RESPECT TO CONFIDENTIAL INFORMATION OR SAMPLES.

 

		18.	The receiving party shall notify the disclosing party in
writing accordingly when making any invention or discovery of any idea or concept through the use of Confidential Information
or Samples, and such invention or discovery and the intellectual property right thereon (including the right to apply) (hereinafter
referred to as the “Invention”) shall be owned as follows:

 

		(a)	Invention solely related to the electrokinetic film
and method for producing such electrokinetic film shall be owned by the COMPANY.

 

		(b)	Invention solely related to the laminated glass for
automotive and train with the electrokinetic film and method for producing such laminated glass shall be owned by AGC.

 

		(c)	the ownership of Invention
that falls outside the scope described (a) and (b) above shall be separately discussed and determined between the parties.

 

Mutual-3

 

     

     

    

 

		19.	This Agreement shall become the Effective Date and shall
remain in full effect for three (3) years thereafter.

 

		20.	In the event of any dispute relating to, in connection
with, or arising out of this Agreement, such dispute shall be settled by arbitration under the Commercial Arbitration Rules of
the Singapore International Arbitration Centre by one or three arbitrators appointed in accordance with the said Rules. The place
of arbitration shall be Singapore, and the arbitration shall be held in the English language. The results of such arbitration
shall be final and binding upon the parties. The Parties hereto agree that any violation or threat of violation hereof will result
in irrevocable harm to the disclosing party for which damages would be an inadequate remedy and, therefore, in addition to its
rights and remedies otherwise available at law, including but not limited to the recovery of damages for breach of this Agreement,
the disclosing party shall be entitled to injunctions, to prevent any unauthorized use or disclosure, and to such other and further
equitable relief as the court may deem proper under the circumstances.

 

		21.	This Agreement shall be governed by and construed in accordance
with the laws of Singapore without reference to its rules or principles on the conflict of laws.

 

IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed in duplicate by their duly authorized representatives as of the date first set forth
above:

 

	AGC	 	 	COMPANY	 
	 	 	 	 	 
	BY:	/s/ Atsushi Ichikawa	 	By:	/s/ James Douvikas
	Name:  	Atsushi Ichikawa	 	Name:	JAMES DOUVIKAS
	Title: 	GM Planning Division	 	Title:	CEO
	 	Technology General Division	 	 	 

 

Mutual-4

 

     

     

    

 

Attached A

 

	items	value
	 	 
	color	a*Range 0 to 3,
	 	b* Range: 0 to 8
	 	(D65 Std.)
	size	4 inch (active area)
	 	 
	applied Voltage	DC +/- <40v
	 	 
	transmittance (Tv)	≤3% 	~60%
	 	 
	switch Speed @ - 15C	<30 sec 	<20 sec
	 	@-15C 	@-15C
	 	 
	switch Speed @ 20C	<3 sec	 <2 sec
	 	 
	switch Speed @ 80C	<2 sec 	<1.5 sec
	 	 
	haze	<15%	 <5%
	 	 
	cycle Test	>106

 

 

Mutual-5

 

     

     

    

  

Amendment
to Agreement

 

This
Amendment made and entered into as of this 2nd day of July, 2018, by and between Crown Electrokinetics Corp., a corporation
of Delaware, having its principal place of business at 1110NE Circle Blvd., Corvallis, OR 97330, the U.S.A. (hereinafter referred
to as the “COMPANY”) and AGC Inc., a corporation of Japan, having its principal place of business at 5-1, Marunouchi
1-chome, Chiyoda-ku, Tokyo 100-8405 Japan, including AGC Business Development Americas, a division of AGC Flat Glass North America,
Inc. (collectively hereinafter referred to as “AGC”),

 

WITNESSETH:

 

WHEREAS,
the COMPANY and AGC entered into “Agreement” as of the 15th day of November, 2017 (hereinafter referred to
as “Original Agreement”), under which the COMPANY agreed to provide Samples of Phase 1 (as defined in Original Agreement)
to AGC and in six (6) months from the Effective Date (as defined in Original Agreement; the 15th day of November, 2017),
and

 

WEREAS,
the COMPANY failed to provide those Samples by the day on which the COMPANY agreed to provide the Samples and requested AGC to
extend its due date of the provision of the Samples, and AGC accepted such request,

 

NOW THEREFORE, in consideration of the mutual
covenants and agreements herein contained, the parties hereto agree as follows:

 

Article
1 Amendment to Section 1 of the Original Agreement

The
phrase “in six (6) months from the Effective Date” in Section 1 of the Original Agreement shall be replaced in its entirety
with “by the 30th day of September, 2018”.

 

Article
2 Effective Date

This
Amendment shall retroactively come into effect on the 14th day of May, 2018.

 

Article
3 Full Force and Effect

Except
as otherwise modified herein, all other terms and conditions of the Original Agreement shall remain unchanged.

 

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

 

	COMPANY	 	 	AGC	 
	 	 	 	 	 
	BY:	/s/
    James Douvikas	 	BY:	/s/
    Hiroki Kamiya
	NAME:	James Douvikas	 	NAME: 	Hiroki
    Kamiya
	TITLE:	CEO	 	TITLE:	GM
    Planning Division Technology General Division

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