Document:

License Agreement, dated August 1, 1996

 CONFIDENTIAL TREATMENT REQUESTED: INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED FROM THIS
DOCUMENT. SUCH OMISSIONS ARE NOTED BY “[**]”. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN SUBMITTED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION. 
  
 Exhibit 10.12 
  
 L IC E N S E    A G R E E M E N T 
  
 This Agreement is made and entered into this 1st day of August, 1996, by and between 
  
 Cambridge Display Technology, Ltd., having a principal place of business at 181a Huntingdon Road, Cambridge CB3 0DJ, United Kingdom (hereinafter referred to as “CDT”) on the one hand, 
  
 and 
  

Philips Electronics N.V., a corporation organized and existing under the laws of the Netherlands, having a principal place of business at Groenewoudseweg 1, 5621 BA
Eindhoven, the Netherlands (hereinafter referred to as “Philips”) on the other hand. 
  
 WITNESSETH 
  
 WHEREAS, Philips and its
Subsidiaries are or intend to be in the business of manufacturing and selling polymer electroluminescent devices; 
  
 WHEREAS, CDT owns or controls several patents and/or patent applications in different countries of the world relating to polymer electroluminescent devices; 

 
 WHEREAS, Philips owns or controls several patents and/or patent applications in different
countries of the world relating to polymer electroluminescent devices; 
  
 WHEREAS, Philips desires to acquire a license under said patents and/or patent applications, and CDT is willing to grant such a license on terms and conditions as described in this Agreement; 
  
 WHEREAS, both CDT and Philips have and expect to continue to have a research and development
effort which will result in further patents relating to polymer electroluminescent devices; 
  
 WHEREAS, each party desires to acquire a license under current and future patents and patent applications of the other party, and 
  
 WHEREAS, each party is willing to extend such a license to the other party, subject to the terms and conditions of this Agreement.

  

 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties agree as
follows: 
  
 Article 1 
  
 As used in this Agreement, the following terms shall have the following meanings: 

 

	1.01	The term “this Agreement” shall mean the present document, including Exhibit A. 

  

	1.02	The term “Subsidiary” shall mean any subsidiary for the time being of either party where the expression “subsidiary” shall have the meaning ascribed to it by
Section 736 of the Companies Act 1985. 

  

	1.03	The term “Patent Rights” shall mean 

  

	 	(1)	patents and patent applications owned and/or the licensing of which is controlled by either Party to this Agreement or any of its Subsidiaries and any and all patents maturing from
such patent applications; 

  

	 	(2)	any and all reissues, renewals and extensions of any of said patents; and 

  

	 	(3)	any and all divisions, continuations and continuations-in-part of said patent applications and all patents issuing thereon. 

  

	 	“Patent	Rights” shall include analogous rights, including utility models. 

  

	1.04	The term “Basic Patent Rights” shall mean CDT’s Patent Rights set forth in Exhibit A. 

  

	1.05	The term “Licensed Patent Rights” of either Party shall mean Patent Rights other than Basic Patent Rights relating to the manufacture, structure and operation of polymer
electroluminescent devices and entitled to receive the benefit of a priority date before January 1, 2001. (Date patent initially filed at 1st Patent office). 

  

	1.06	The term “Products” shall mean complete polymer electroluminescent devices and arrays of such devices in the form of layers or layer structures incorporating at least a
light emitting polymer layer and electrode layers and further optionally incorporating other layers such as for example substrate and supporting layers or protective layers. The term “Products” excludes [**]. 

  

	1.07	The term “Remuneration Products” shall mean Products covered by any claim of the Basic Patent Rights. 

  

 2 

	1.08	The term “Net Sales Value” of Remuneration Products sold by Philips and/or any of its Subsidiaries shall mean the gross invoice price or arms length sales price whichever
is the greater received therefor, less returns and less (to the extent separately stated on such invoice) any normal discounts and allowances actually granted and less any sales, use or other excise taxes and third party shipping charges included in
such invoice price. “Net Sales Value” of Remuneration Products not sold (including those not sold as such but sold by Philips and/or any of its Subsidiaries as components or constituents of other products, or used by Philips and/or any of
its Subsidiaries in its operations, or supplied by Philips and/or any of its Subsidiaries to others for use, or otherwise disposed of) shall mean the standard net selling price of Philips or of the Philips Subsidiary concerned, for such Remuneration
Product (or the nearest equivalent to such Remuneration Product) in effect at the time of such use for quantities of Remuneration Products equal to the quantity so used in the month in which such use occurs or arms length sale price whichever is the
greater. 

  

	1.09	The term “Effective Date” shall mean the date first above appearing on Page 1 of this Agreement. 

  

	1.10	The term “Term of this Agreement” shall mean the period of time running from the Effective Date of this Agreement to the date of expiration of the last expiring patent
included in the Licensed Patent Rights. 

  

	1.11	The term “Term of the Basic Patent Rights” shall mean the period of time running from the Effective Date of this Agreement to the date of expiration of the last expiring
patent included in the Basic Patent Rights. 

  

	1.12	The term “Licensed Year” shall mean the year commencing with the Effective Date hereof and each anniversary year thereafter. 

  

	1.13	The term “Party” or “Parties” shall mean CDT and/or Philips, as the case may be. 

  

	1.14	Plural shall include singular and singular shall include plural unless the context otherwise requires. 

  
 Article 2 
  

	2.01	CDT hereby grants and shall procure that its Subsidiaries shall grant to Philips and its Subsidiaries and Philips hereby accepts on behalf of itself and its Subsidiaries an
indivisible, non-exclusive license under the Basic Patent Rights, without the right to grant sublicenses, to manufacture, to use and to sell or otherwise dispose of Remuneration Products, such licenses to be effective for the Term of this Agreement.

  

 3 

	2.02	CDT hereby grants and shall procure that its Subsidiaries shall grant to Philips and its Subsidiaries and Philips hereby accepts on behalf of itself and its Subsidiaries a
worldwide, indivisible, non-exclusive license under CDT’s Licensed Patent Rights, without the right to grant sublicenses, to manufacture, to use and to sell or otherwise dispose of Products in any and all countries of the world, such licenses
to be effective for the Term of this Agreement. 

  
 The licenses granted in this Article 2.02 shall only apply to Licensed Patent Rights which CDT or its Subsidiaries are free to license to Philips and its Subsidiaries hereunder without CDT or its Subsidiaries having to pay royalties or
other consideration to parties other than their employees. 
  

	2.03	Philips hereby grants and shall procure that its Subsidiaries shall grant to CDT and its Subsidiaries and CDT hereby accepts on behalf of itself and its Subsidiaries a worldwide,
indivisible, non-exclusive license under Philips’ Licensed Patent Rights, without the right to grant sublicenses, to manufacture, to use and to sell or otherwise dispose of Products in any and all countries of the world, such licenses to be
effective for the Term of this Agreement. 

  
 The
licenses granted in this Article 2.03 shall only apply to Licensed Patent Rights which Philips or its Subsidiaries are free to license to CDT and its Subsidiaries hereunder without Philips or its Subsidiaries having to pay royalties or other
consideration to parties other than their employees. 
  

	2.04	The licenses granted in this Article 2 to either Party and its Subsidiaries include a license to have manufactured for it, and to incorporate into Products, materials, foils and
subassemblies of such Products. 

  

	2.05	The Parties shall not assert, nor cause or permit their Subsidiaries to assert, against any customer, direct or indirect, of the other Party, any claim for infringement of Basic or
Licensed Patent Rights by such customer’s use, sale or other disposal of Products obtained directly or indirectly from said other Party, if and to the extent such use, sale or other disposal, if performed by said other Party, would have been
licensed under this Agreement. For Remuneration Products provided by Philips or its Subsidiaries, this undertaking is conditional upon the actual payment of royalties as provided in Article 3. 

  
 Article 3 
  

	3.01	For the license rights granted to Philips and its Subsidiaries under Article 2.01, Philips shall pay to whom CDT designates: 

  

	 	(1)	a non-refundable license fee [**] 

  

 4 

	 	(2)	earned royalties and minimum royalties as recited in Articles 3.02 and 3.03 hereof. 

  

	3.02	As earned royalties, Philips shall pay to CDT the following with respect to all Remuneration Products sold by Philips and its Subsidiaries to third parties or otherwise disposed of
by Philips and its Subsidiaries during the Term of the Basic Patent Rights: 

  

	 	(1)	[**] 

  

	 	(2)	[**] 

  

	3.03	In respect of each Licensed Year during the Term of the Basic Patent Rights [**] of the Effective Date Philips shall pay CDT a minimum royalty of [**] within two (2) months after
the beginning of the said Licensed Year. Any minimum royalty paid by Philips to CDT shall only be creditable against earned royalties in the Licensed Year for which said minimum royalty is due. 

  

	3.04	In the circumstances where both of the following conditions are met: 

  

	 	(1)	Philips or its Subsidiaries manufacture Remuneration Products in a country where CDT has no Basic Patent Rights, and 

  

	 	(2)	such Remuneration Products are sold to a third party in a country where CDT has no Basic Patent Rights, 

  
 then the Parties agree to enter into good faith discussions about a reasonable compensation to CDT, taking into account
CDT’s legitimate business interests and the expected proportion of Remuneration Products that will be imported by the third party into a country where CDT has a Basic Patent Right, where such Remuneration Products may be sold as such or as
components or constituents of other products. Such reasonable compensation will in no case be higher than the compensation agreed upon in Article 3.02. 
  

	3.05	Other than has been provided in Articles 3.01 to 3.04, the licenses under Articles 2.02 and 2.03 are royalty free and no license fee is payable. 

  

	3.06	No royalty shall be due for sales by Philips or its Subsidiaries to CDT or its Subsidiaries. 

  

 5 

 Article 4 
  

	4.01	All royalties and other amounts payable pursuant to Article 3 hereof shall be paid in US Dollars. In case of Net Sales Value paid to Philips in other currency than US Dollars, the
rate of exchange for converting such other currency shall be the telegraphic selling rate of US Dollars in terms of the other currency quoted by Citi Bank New York for payment of current transactions on the last day of the three (3) months calendar
period in respect of which the report according to Article 5 is due. 

  

	4.02	All taxes, duties, fees, imposts or other charges imposed or required to be withheld by any taxing authority in any jurisdiction on the amounts payable by Philips to CDT pursuant to
Article 3 hereof or levied by reason of the execution of this Agreement shall be borne and paid by Philips so that CDT shall receive the amount calculated to be due under Article 3, except to the extent that CDT can offset such taxes, duties, fees,
imposts or charges against its tax liability. Philips shall deliver to CDT the original or a true copy of the receipts covering each of such payments of said taxes, duties, fees, imposts or charges and such other documents as may be required to
claim such offset. 

  
 Article 5 

 
 Not later than the last day of the second (2nd) month following each three (3) months
calendar period subsequent to January 1, 1997, Philips shall furnish to CDT a written report in such detail as CDT reasonably requires of all amounts due and their calculation pursuant to Article 3 for the relevant three (3) months calendar period,
and shall pay CDT all amounts due to CDT. The first such report made by Philips shall also include the Net Sales Value of Remuneration Products sold or otherwise disposed of prior to January 1, 1997. Not later than two (2) months after the
expiration date or other termination of this Agreement, Philips shall furnish to CDT a written report of all amounts due pursuant to Article 3 for the period ending on the expiration or termination date and shall pay CDT all amounts due to CDT.

  
 Such report shall also be accompanied by all the receipts or receipt copies
required by reason of Article 4 hereof showing payment by Philips for the account of CDT of all taxes, duties, fees, imposts or charges required to be withheld by Philips from the amounts paid to CDT during the specified period, and such report
shall separately show such taxes, duties, fees, imposts or charges. 
  

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 Article 6 
  

Philips shall keep and cause its Subsidiaries to keep true and complete books of account containing an accurate record of all data necessary for the determination of
the amount of the royalty payments that shall become due under Article 3 hereof, and shall permit and cause its Subsidiaries to permit CDT, by a duly authorized independent auditor reasonably acceptable to Philips, to examine on a confidential basis
such books or accounts at all reasonable time during normal business hours (but not more than once in any Licensed Year) to such extent as may be necessary to determine the accuracy or inaccuracy of any of the statements to be rendered by Philips
pursuant to Article 5 hereof; provided, however, that the examination with respect to the books of any Licensed Year shall be made within three (3) years after the end of such Licensed Year. Such inspection shall be completed at the own expense of
CDT, provided that if any deficiency exceeding five percent (5%) of the money actually due is found in connection with the computation the cost of such inspection shall be borne by Philips. 
  
 Article 7 
  
 If Philips shall fail to render a statement, make proper payment or deliver a tax receipt or tax receipt copy hereunder when due and such
default shall continue for sixty (60) days after written notice thereof from CDT, or if Philips shall become insolvent, or file a petition in bankruptcy or insolvency or be adjudicated insolvent, CDT may terminate this Agreement and thus the
licenses herein granted upon ten (10) working days prior written notice to Philips. Any such termination shall be without prejudice to any accrued rights of CDT, including without limitation the license fee and minimum royalties under Articles
3.01(1) and 3.03, and all royalties earned prior to such termination. 
  
 Article 8 
  
 Except as otherwise specifically provided herein,
any notice or communication required or permitted hereunder shall be in writing, which shall be deemed to include facsimile provided the same is confirmed by prepaid post, posted within 48 hours of such facsimile, and may be sent by facsimile or by
prepaid registered air mail, addressed to the party concerned at such address as such party shall have notified to the party giving notice in writing for that purpose, failing which at the registered office or principal place of business of the
party receiving the notice. Any payments to be made hereunder by Philips to CDT shall be made in US Dollars and shall be transmitted, unless expressly indicated otherwise by CDT, by wire transfer to CDT’s account with TSB Bank p1c, 6 St.
Andrews Street, Cambridge, CB2 3AX, Sort Code 77-05-18, Account Number 9321 3468, mentioning as title for payment “Royalties LEP’s”. The date of giving of any such notice, receipt, report or other communication, and the date of making
any such payment, provided such payment is received, shall be the date the facsimile or payment was transmitted. The Post Office receipt showing the date of deposit shall be prima facie evidence of these facts in respect of postal transmission.

  

 7 

 Article 9 
  

If under otherwise similar and substantially the same conditions as contained in this Agreement, licenses under Patent Rights referred to and licensed pursuant to this
Agreement should be granted for Remuneration Products to any third party at a royalty rate more favourable than the rate payable by Philips under this Agreement, Philips shall be entitled to have the royalty rate applicable to it modified (subject
to undertaking such terms as are undertaken by such third party and in any event only from the date such royalty and terms apply to such third party) to such extent that the same shall be as favourable as that available to such third party.

  
 Article 10 
  

	10.01	At the option of either Party, the Parties shall discuss in good faith the possibility and the conditions for extending the licenses in this Agreement to [**].

  

	10.02	The Parties hereto agree to engage in good faith discussions to extend the period for including Patent Rights under Licensed Patent Rights until after January 1, 2001, such
discussions to be started at least six (6) months before that date. 

  
 Article 11 
  

	11.01	The licenses herein shall extend, to the extent specified, to the Subsidiaries of the Parties. 

  

	    	Neither Party to this Agreement shall assign or transfer any of its rights or privileges hereunder without the prior written consent of the other Party and without such
authorization or approval of any competent governmental authority as then may be required. 

  

	11.02	In the event either Party or their Subsidiaries’ undertakings, business or assets relating to the manufacture, sale and/or other disposal of Products are divested or are
acquired by any third party or the majority of the issued share capital of either Party or their Subsidiaries is acquired by any third party, the licenses granted hereunder to that Party or its Subsidiaries shall remain limited to its activities
before such event and shall not extend to any operations or activities with which that Party or its Subsidiaries’ activities are or become combined, merged or otherwise grow “unnaturally”. 

  

 8 

 Article 12 
  

	12.01	Either Party or its Subsidiaries may assign or otherwise transfer any of its Patent Rights subject to this Agreement; provided that such transfer and any subsequent transfer (i) is
made subject to the licensing commitments hereunder and (ii) does not cause the other Party to negotiate with or make any payments to any third party. 

  

	12.02	Nothing contained in this Agreement shall be construed as: 

  

	 	(i)	a restriction on the right of either Party or its Subsidiaries to make, use, sell or otherwise dispose of any particular product or products other than Products; or

  

	 	(ii)	a warranty or representation by either Party or its Subsidiaries as to the validity or scope of any Patent Rights licensed hereunder; or 

  

	 	(iii)	a warranty or representation that any manufacture, sale, use or other disposition of Products hereunder will be free from infringement of patent rights or other industrial or
intellectual property rights, under which no licenses have been granted under and pursuant to this Agreement; or 

  

	 	(iv)	an obligation on either Party or any of its Subsidiaries to file any patent application or to secure any patent rights or maintain any patent rights in force; or

  

	 	(v)	an agreement to bring or prosecute actions or suits against outside third parties for infringement or conferring any rights to bring or prosecute actions or suits against third
parties for infringement; or 

  

	 	(vi)	conferring any right to use in advertising, publicity, or otherwise, any trademark, trade name or names, or any contraction, abbreviation or simulation thereof, of either Party or
any of its Subsidiaries, except as otherwise agreed in writing; or 

  

	 	(vii)	conferring by implication, estoppel or otherwise, upon either Party or its Subsidiaries licensed hereunder, any license or other right under any patent rights or other industrial or
intellectual property rights except for the licenses and rights expressly granted hereunder; or 

  

	 	(viii)	an obligation to furnish any technical information or know-how; or 

  

	 	(ix)	requiring CDT to repay or account for any sums actually received or which have become due under this Agreement at the time in question. 

  

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 Article 13 
  

	13.01	This Agreement shall be construed, and the performance thereof shall be enforced, in accordance with the laws of England. 

  

	13.02	All disputes arising out of or in connection with the interpretation or execution of this Agreement during its life or thereafter shall be finally settled according to the Rules of
Conciliation and Arbitration of the International Chamber of Commerce by one arbitrator chosen in accordance with the Rules. The Court of Arbitration shall convene at London, Great Britain, or such other place as the Parties may agree. The award of
the Court of Arbitration shall be final and binding. 

  

	13.03	If any question or matter arises as to the calculation or determination of Net Sales Value (in so far as it depends on the price or “arms length price” of any Remuneration
Products), either Party may refer the matter to an expert for determination. The Parties shall appoint such member of the Institute of Chartered Accountants in England, with relevant experience, as they may agree, or in the absence of agreement as
shall be nominated by the President for the time being of the Institute of Chartered Accountants, who shall decide the matter as soon as reasonably practicable, and in any event within 3 months of his appointment. 

  
 The costs of such appointment shall be borne by the Parties in such
proportion as the expert thinks fit. The Parties shall make available to the expert all such information and documents as he reasonably requires for the purpose of making his determination. The determination of the expert shall be final and binding
on both Parties. 
  

	13.04	The Parties shall keep the detailed terms of this Agreement confidential, and shall not now or hereafter divulge any such detailed terms to any outside third party except:

  

	 	(a)	with the prior written consent of the other Party; or 

  

	 	(b)	to any governmental body having jurisdiction to call therefor; or 

  

	 	(c)	as otherwise may be required by law or legal processes; or 

  

	 	(d)	in confidence to legal counsel or other professional advisers of either Party. 

  

	13.05	The waiver by either Party of a breach or default in any of the provisions of this Agreement by the other Party shall not be construed as a waiver by such Party of any succeeding
breach of the same or other provisions, nor shall any delay or 

  

 10 

	    	omission on the part of either Party to exercise or avail itself of any right, power or privilege that it has or may have hereunder, operate as a waiver of any right, power or
privilege by such Party. 

  

	13.06	This Agreement sets forth the entire agreement and understanding between the Parties hereto as to the subject matter hereof and merges and supersedes any and all prior discussions
between them. 

  
 This Agreement may not be amended
except in a written instrument signed by both Parties. 
  

	13.07	If any term, clause or provision of this Agreement shall be judged to be invalid, the validity of any other term, clause or provision shall not be thereby affected and such invalid
term, clause or provision shall be deemed deleted from this Agreement. 

  

	13.08	CDT and its Subsidiaries shall not be liable for any employee, public or product liability arising out of or based on any exercise by Philips or its Subsidiaries of the license
granted under this Agreement and Philips shall indemnify CDT and its Subsidiaries and hold them harmless against all claims, actions, losses and costs (including reasonable legal costs) pursuant to any claim or action by any third party against CDT
or its Subsidiaries for the same. 

  
 Philips and
its Subsidiaries shall not be liable for any employee, public or product liability arising out of or based on any exercise by CDT or its Subsidiaries of the license granted under this Agreement and CDT shall indemnify Philips and Its Subsidiaries
and hold them harmless against all claims, actions, losses and costs (including reasonable legal costs) pursuant to any claim or action by any third party against Philips or its Subsidiaries for the same. 
  
 The Party relying on such indemnity shall inform the other promptly of any
such claim or action, and the other Party shall, subject to suitable security being given in respect of any liability which the indemnified Party may incur in the proceedings, be entitled to have the conduct of any proceedings or settlement
negotiations. The indemnifying Party shall keep the indemnified Party fully informed and shall not settle the proceedings or incur any liability on the part of the indemnified Party without prior written consent of the indemnified Party, such
consent not to be unreasonably withheld. 
  
 Each Party receives
and holds the indemnity herein as agent and trustee of its Subsidiaries. 
  

	13.09	Each Party agrees to notify the other promptly of any apparent infringement by any third party of any of the rights licensed to it hereunder on becoming aware of the same. However,
any inadvertent failure to observe this obligation shall not, without more, be considered as a material breach of the Agreement. 

  

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	13.10	For a minimum period of ten (10) years from the Effective Date, Philips shall ensure that published technical material relating to Remuneration Products so far as reasonable carries
the notice “Manufactured under licence from CDT” or similar language or a translation thereof. However, any failure to observe this obligation shall not be considered as a material breach of the Agreement. 

  
 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their
duly authorized representatives. 
  

							
	 Cambridge Display Technology, Ltd.
	  	Philips Electronics N.V.
				
	 By:
	 	 /s/ David Fyfe

	  	By:	  	 /s/ E.P. Continho

				
	 Title:
	 	Chief Executive	  	Title:	  	Authorized Signatory
				
	 Date:
	 	12.8.1996	  	Date:	  	12-8-1996

  

 12 

 EXHIBIT A 
  

List of CDT’s Basic Patent Rights 
  

							
	—	  	Australian Patent 626,415	 	 	  	 
				
	—	  	Brazilian Patent Applies 90 06718	 	 	  	 
				
	—	  	Canadian Patent 2,030,785	 	 	  	 
				
	—	  	European Patent 423,283	 	Ratified in	  	Austria
	 	  	 	 	 	  	France
	 	  	 	 	 	  	Great Britain
	 	  	 	 	 	  	Italy
	 	  	 	 	 	  	Liechtenstein
	 	  	 	 	 	  	Netherlands
	 	  	 	 	 	  	Spain
	 	  	 	 	 	  	Sweden
	 	  	 	 	 	  	Switzerland
	—	  	Finnish Patent Application 90 6271	 	 	  	 
				
	—	  	German Patent 69,016,345	 	 	  	 
				
	—	  	Japanese Patent Application 506,028/90	 	 	  	 
				
	—	  	Korean Patent Application 702,649/90	 	 	  	 
				
	—	  	USA Patent 5,247,190	 	 	  	 
				
	—	  	USA Patent 5,399,502	 	 	  	 

  

 13Cross License Agreement, dated November 25, 1999

 CONFIDENTIAL TREATMENT REQUESTED: INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED FROM THIS
DOCUMENT. SUCH OMISSIONS ARE NOTED BY “[**]”. AN UNREDACTED VERSION OF THIS DOCUMENT HAS BEEN SUBMITTED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION. 
  
 Exhibit 10.13 
  
 This Agreement is made the 25th day
of 1999 November 
  
 Between: 
  

	(1)	Cambridge Display Technology Limited of Greenwich House, Madingley Rise, Madingley Road, Cambridge, CB3 OHJ (“CDT”) and 

  

	(2)	Seiko Epson Corporation of 3-3-5 Owa, Suwa-Shi, Nagona-ken 392, Japan (“SEC”) collectively “the parties”. 

  

	1.	Introduction 

  

	1.1	Under the terms of a joint development agreement dated 9 June 1997 (“the JDA”) the parties have co-operated to develop and produce flat panel electronic information
display devices, the technology in respect of which is jointly owned as more particularly described in the JDA (“the Project Technology”). This co-operation is continuing and references below to the Project Technology will be deemed to
include technology which is subsequently developed and which is jointly owned as contemplated by the JDA. 

  

	1.2	The parties have previously agreed that neither of them is entitled to transfer, license or use to manufacture their rights in any jointly owned Project Technology without the prior
consent of the other. 

  

	1.3	Under the terms of the JDA the parties have each granted to the other limited licences to use certain of their respective technologies for the purpose of the project the subject of
the co-operation referred to in clause 1.1 above (“the Project”). 

  

	1.4	This Agreement records the parties’ agreement on the terms and conditions on which each grants to the other its consent to the other using its rights in the Project Technology
commercially and a non-exclusive licence to deal in and use certain of their respective technologies in connection with LEP Display Devices (as defined below). 

  

	2.	Interpretation 

  

	2.1	In this Agreement, unless the context otherwise requires the singular includes the plural and vice versa and: 

  

			
	“LEP”	  	means emitting polymer relating to large molecule organic electroluminescent material;

			
		
	“LEP Display Device”	  	means an electronic device in which light is generated by a LEP to produce a visible representation on display, incorporating where relevant any semi conducting polymer layers, electrode
layers, substrate, supporting or protective layers, the means of driving the display device if this is incorporated as a separate layer or component of a layer contained within the overall display device (e.g. row/column driver. Components on a
substrate not related to driving the display are excluded, e.g. a processor);
		
	“Background Technology”	  	means, in relation to CDT or SEC (as the case may be) the following types of technology (other than Project Technology) which are or will be owned and/or used by a party hereto or by any
Member of its Group:
		
	 	  	(a) any patented technology (including technology the subject of pending patent applications), to the extent that this relates to, or is capable of being used in the development of LEP
material and/or LEP Display Devices (in particular it is recognised that the patented technology included within this definition are:
		
	 	  	(b) patents whose patent claims relate to a LEP material (but not any method of manufacturing LEP material); a LEP display structure; a circuit whose function is to drive a display device; a
method of manufacturing a LEP Display Device; a method of liquidising LEP material for application by ink jet technology and ink jet technology to the extent this is relevant to manufacturing display devices; and
		
	 	  	(c) patents which have been or may be licensed by a party to the other for the purposes of carrying out the Project pursuant to the JDA from time to time); and

  

 2 

			
		
	 	  	(d) any know-how which has been or may be disclosed by either party to the other and may be used in the Project (other than know-how relating to any method of manufacturing LEP
material);
		
	“Group”	  	means, in relation to any company, that company and any other company which, at the relevant time, is that company’s Holding Company or Subsidiary, or the Subsidiary of any such Holding
Company; and “Member” of a Group has a corresponding meaning;
		
	“Holding Company” and “Subsidiary”	  	have the meanings given to those expressions by section 736 of the Companies Act 1985 as amended;
		
	“Manufacturing Costs”	  	means, in relation to an article, all reasonable manufacturing overhead costs incurred in manufacturing the article, including, but not limited to, all reasonably incurred directly
administrative costs, labour expenses (including salaries, fringe benefits and a proportionate share of any labour costs not incurred solely to manufacture the article), depreciation on a straight line basis and maintenance costs of equipment and
machinery, costs of raw materials, supplies, energy costs, taxes and insurance. All calculations shall be made in accordance with US GAAP;
		
	“a Product”	  	any article produced by or for a party containing an LEP Display, Device; and
		
	“Technical Information”	  	means any information concerning or relating to the Project Technology or to the Background Technology disclosed by either party pursuant to this Agreement or the JDA.

  
 and the headings appearing hereinafter
are for the sake of ease of reference only and do not form part of the Agreement. 
  

	3.	Grant of Licences 

  

	3.1	Each of the parties grants, and agrees to grant, to the other, and that party accepts, subject to the terms of this Agreement a non-exclusive licence under the other’s
Background Technology and its consent in relation to the Project Technology to manufacture, have manufactured, use, sell, offer to sell, import, lease or otherwise 

  

 3 

 dispose of LEP Display Devices (including, without limitation, incorporating them into Products but not
manufacture or have manufactured LEP) in any and all countries of the world or a lesser number thereof. This licence shall not, however, extend to any technology owned by an unrelated third party which technology has been or is acquired, licensed,
transferred or can be used by either CDT or SEC and which CDT or SEC as the case may be are prohibited from licensing, sub-licensing or otherwise. However, the licence granted by this clause 3 shall extend to any technology covered by this
Agreement, owned by an unrelated third party which technology has been or is acquired, licensed, transferred or can be used by either CDT or SEC and which CDT or SEC are permitted to make it available whether by license, sub-licence or otherwise
without compensation to that third party. In the event that CDT or SEC are required to pay royalties or any other form of monetary consideration to, or at the direction of the third party in question in order to obtain the right to license the other
party with respect to such third party licence, then CDT or SEC will have the option to take such licence after being notified of such consideration requirement from the other party and having agreed to pay the compensation in question. There is no
obligation on either party being so notified to take such a license if there is a consideration requirement. . 
  

	3.2	In addition to the rights granted to CDT pursuant to clause 3.1 CDT shall also have the right to grant non-exclusive licenses to third parties in respect of the following and
subject to the limitations defined herein namely: 

  

	 	(a)	manufacture, having manufactured, use, sale, offer to sell, import, lease or otherwise to dispose of LEP Display Devices using any or all Project Technology (including, without
limitation, incorporating LEP Display Devices into Products) in any and all countries of the world or a lesser number thereof 

  

	 	(b)	manufacture, having manufactured, use, sale, offer to sell, import, lease or otherwise to dispose of LEP Display Devices using any or all of SEC Background Technology (including,
without limitation, incorporating LEP Display Devices into Products) in any and all countries of the world or a lesser number thereof 

  
 both (a) and (b) being subject to the limitations that: 
  

	 	(i)	Subject to 3.2(b)(ii), CDT shall be entitled to grant a licence to a third party any licence under both (a) and (b) or either (a) or (b) alone provided any such licence includes any
or all of CDT Background Technology 

  

	 	(ii)	In the event that CDT wishes to grant a sub-license to a third party under (b), CDT shall give SEC notice of the name of the third 

  

 4 

 party prior to commencement of the negotiation with it and outline details of any know-how involved. (A)
If the third party has already a license on (b), SEC shall inform CDT of the fact. (B) If the third party is hostile to SEC (e.g. SEC shall be in pending litigation or actual or threatened substantive litigation with the third party), SEC shall be
entitled to withdraw permission to CDT to give a sub-licence to the third party under (b) (SEC acknowledges that it shall not unreasonably withdraw permission to CDT to give a sublicense under (b)). In the event that CDT receives no information from
SEC on (A) or (B) in thirty days following the date of the notice of the name of the third party, CDT shall be entitled to proceed with negotiating and granting the sub-license. However, in the event that neither of the following (1) or (2) is
obtained, both parties shall discuss and determine suitable terms and conditions including the possibility of declining to grant a sub-license to the third party under 3.2(b): 
  

	 	(1)	(where and to the extent that the sub-licensee owns technology of the type included in the above definition of Background Technology and grants a licence of such technology to CDT),
the sub-licensee grants SEC a non-exclusive licence (or CDT obtains the right to grant a sub-licence to SEC with (to the extent that the sub-licensee is then entitled to do so) the same term and the same scope of patent and/or know-how as the scope
of licence CDT grants to the sub-licensee as defined in section 3.2 (b). 

  

	 	(2)	CDT obtains a royalty at [**] of LEP Display Device. 

  

	 	(iii)	no licence granted by CDT under both of (a) and (b) shall include any right for the third party to sub-license the rights granted to them by CDT except to any Member of the
Licensee’s Group 

  

	 	(iv)	any and all licences granted by CDT under either of (a) and (b) shall include confidentiality provisions by virtue of which the confidentiality provisions of this Agreement shall be
maintained, 

  

	3.3	SEC agrees that where CDT has notified it of an intention to negotiate the grant of a license to a third party under clause 3.2(b) SEC shall not (and shall procure that no Member of
its Group shall) negotiate or attempt to negotiate with that third party over the grant of an equivalent license from SEC or any Member or its Group for a period of 12 months from the date of the original notification. However, SEC can negotiate
with such third party after 12 months from the original date of notification from CDT. Further, if there is the situation that SEC 

  

 5 

 (but not CDT) has already a relationship (like business relationship) with the third party at the time of
the original notification and has the possibility to grant a license to the third party on SEC’s Background Technology within 12 months from the notice, SEC and CDT will discuss which party will proceed with the negotiation with the third
party. For the avoidance of doubt SEC does not have any right to sub-license CDT’s Background Technology. 
  

	3.4	For the avoidance of doubt CDT acknowledges and agrees with SEC that the licences granted to it pursuant to clause 3.1 and the right to grant licences pursuant to clause 3.2 do not
relate to SEC’s generic inkjet technology (i.e. CDT’s licenses and any licenses granted by CDT will to the extent they include inkjet technology be limited to inkjet technology in the development and manufacture of LEP Display Devices).

  

	3.5	For the avoidance of doubt CDT and SEC acknowledge and agree that the licences granted pursuant to clause 3.1 and the right to grant licences pursuant to clause 3.2 do not include
TFT (Thin Film Transistor) technology which has been or is acquired or developed at any time by or for SEC to the extent that this is irrelevant to or independent of any application to LEP Display Devices (ie the combination of TFT structure and
LEP). Again for the avoidance of doubt CDT and SEC acknowledge and agree that the licences granted pursuant to clause 3.1 do not include any technology which has been or is acquired or developed at any time by or for CDT to the extent this relates
to any method of manufacturing LEP material. 

  

	3.6	For the avoidance of doubt CDT and SEC acknowledge and agree that the licences granted pursuant to clause 3.1 and the right to grant licences pursuant to clause 3.2 do not include
any patent and/know-how relating to Product itself even in the event that it incorporates a LEP Display Device. 

  

	3.7	At the request of the other party, each party will (and in the case of CDT it will use- its reasonable endeavours, to procure that each of its licensees will) at it own expense do
all things necessary on its part to have itself recorded as a licensee of the Background Technology in any territory anywhere in the world that LEP Display Devices or products containing them are sold by it where this is required or desirable in
accordance with relevant local law. 

  

	3.8	CDT and SEC will negotiate a LEP material supply agreement including the warranty of LEP material supply to SEC by CDT, which includes providing a second-supply source.

  

 6 

	4.	Identification of Patents 

  

	4.1	A representative list of all patents granted and all pending patent applications filed before the date of this Agreement and under which rights are granted by virtue of this
Agreement is set out in Schedule A hereto for both parties’ reference, but it shall not mean to exclude any patents filed before and during the term of this Agreement under which rights are granted by virtue of this Agreement.

  

	5.	Restrictions On Use And Disclosure of Know-How 

  

	5.1	Any and all know-how transferred as a consequence of or in accordance with this Agreement and any licence granted by CDT or SEC under this Agreement shall be used by the transferee
party only in relation to the development and manufacture of LEP Display Devices. 

  

	5.2	Any and all know-how transferred as a consequence of or in accordance with this Agreement and any licence granted by CDT or SEC under this Agreement shall be maintained as
confidential during the term hereof and at all times thereafter with the exception that CDT and SEC shall each be free to disclose to third parties their own know-how associated with their own Background Technology. 

  

	6.	Royalties 

  

	6.1	In consideration of the licences granted to it by CDT, and taking into account the licences granted by it to CDT, SEC agrees to pay CDT 

  

	 	(a)	a non-refundable lump sum [**] 

  

	 	(i)	[**] 

  

	 	(ii)	[**] 

  

	 	(iii)	[**] 

  

	 	(b)	[**] Net Sales Value (as defined below) of all LEP Display Devices using any Background Technology of CDT which devices are sold, rented, leased or otherwise disposed of to a third
party in any way by SEC or any Member of SEC’s Group whether as a distinct unit or as a component part of any Product. 

  

	6.2	Without prejudice to clause 16.4, for the avoidance of doubt any compensation payable under this Agreement, including any part thereof, shall only be due and payable provided that
this Agreement or relevant part thereof is in full force and effect on the date on which the compensation or part thereof becomes payable. 

  

 7 

	6.3	For the purposes of this Agreement the “Net Sales Value” of any LEP Display Device means: 

  

	 	(a)	where the LEP Display Device is sold on an arm’s length basis, the price charged under that sale, calculated as the actual price invoiced to the customer less:

  

	 	(i)	any turnover tax, value added tax or other sales tax; and 

  

	 	(ii)	any packaging, packing, freight, warehousing, carriage and insurance charges to the extent that any of the same are included in the invoice price, and after deduction of any
allowances for lost or damaged merchandise or returns, but without deductions for (or, as the case may be, after adding back) any discounts or rebates granted to the customer on account of promptness of payment; 

  

	 	(b)	where any LEP Display Device is incorporated into any Product or sold or otherwise disposed of other than on an arm’s length basis, (in the first such instance)

  
         [**] 

 
 (in the second instance) 
  
 The price on the first subsequent arm’s length sale (or if no such sale
is made, the price that would have been charged on the first subsequent arm’s length sale) calculated (in either case) in accordance with paragraph (a) above; and 
  

	 	(c)	where: 

  

	 	(i)	the price of any LEP Display Devices is adjusted for any customer or associate company in exchange for commitments from that customer or associate company to purchase any other
goods or services from the seller in question; or 

  

	 	(ii)	the business terms relating to the provision of LEP Display Devices are adjusted to any material degree in a manner which has the same effect as a direct adjustment of price.

  

 8 

 then for the purposes of this Agreement the Net Sales Value shall be deemed to be adjusted to the level
which would apply if such adjustment had not been made and the transaction were made on normal arm’s length commercial terms. 
  

	6.4	A sale will be deemed to have been made, and payments due hereunder for such sale shall accrue, when billed out or shipped to a third party, whichever occurs first.

  

	6.5	In consideration of the licences granted to it by SEC CDT agrees to pay SEC [**]. It is agreed that [**] the minimum royalty CDT may require of such third parties for such licences
shall be [**]. CDT also agrees that where and to the extent that any sub-licensee owns technology of the type included in the above definition of Background Technology and grants a licence of such technology to CDT in return for a sub-licence of the
SEC Background Technology as contemplated by clause 3.2(b)(ii)1, CDT will procure that the sub-licensee grants SEC a non-exclusive licence or CDT obtains the right to grant a sub-licence to SEC, with the same term and the same scope of patent and/or
know-how as the license granted back to CDT. [**] 

  

	6.6	The royalties and other sums payable pursuant to this clause shall be paid as follows: 

  
 within 60 days after each calendar quarter each party shall submit to the other a written report in such detail as the other
reasonably requires showing: 
  

	 	(a)	the quantity of all LEP Display Devices (including LEP Display Devices incorporated in Products) sold by a party or any other Member of its Group during that quarter in respect of
which royalties are payable to the other party; 

  

	 	(b)	the Net Sales Value of such LEP Display Devices (and/or Products incorporating LEP Display Devices); and 

  

 9 

	 	(c)	the amount of the royalties payable hereunder in respect thereof; and (in the case of a report prepared by CDT) the amount of net royalties received by CDT from third parties who
have been granted licenses which include SEC Background Technology. 

  

	6.7	All sums payable pursuant to clause 6.1(b) or clause 6.5 are to be paid within 60 days after the relevant calendar quarter. 

  

	6.8	All sums payable pursuant to this Agreement are exclusive of value added tax or other applicable taxes or duties for which the payor shall be additionally liable and shall be paid
in cleared funds to such bank account as the payee may from time to time nominate, without any set off, deduction or withholding except such amount (if any) of tax as the payor is required to deduct or withhold by law. If the payor is required by
law to make any tax deduction or withholding, the payor shall do all things in its power which may be necessary to enable or assist the payee to claim exemption therefrom under any double taxation or similar agreement from time to time in force and
shall from time to time give the payee proper evidence as to the deduction or withholding and payment over of the tax deducted or withheld. 

  

	6.9	If either party makes any default in payment of any sum due hereunder the amount due shall bear interest, both before and after any judgement, at the rate of 4 per centum above the
base rate of Lloyds Bank plc from time to time from the due date until payment of that amount is made. 

  

	7.	Accounting Records 

  

	7.1	Each party hereto shall maintain complete and accurate books and records in sufficient detail to enable the royalties to be paid hereunder by it to be determined, but each party
hereto shall not be required to keep and maintain such books and records for more than three (3) years after the end of the fiscal year during which transaction giving rise to the royalty calculation hereunder was made or in any event for more than
one (1) year after any termination or expiration of any licence granted under this Agreement and no longer. Each party shall permit such books and records to be examined and audited during normal business hours to the extent necessary to enable the
amount of such royalties payable to the other party hereto to be ascertained, such examination and audit to be made by an auditor appointed by the party requesting such audit and approved by the audited party (either party shall not unreasonably
decline the auditor appointed by the other party) and such examination and audit to be made at the expense of the party requesting such audit unless the audit reveals a 5% or more discrepancy in which case such expense shall be borne by the audited
party. Each party shall seek permission for such examination and audit no more than once each fiscal year. All information obtained by such examination and audit, 

  

 10 

 including, without limitation, sales prices and customers and other confidential business information of
the audited party (except to the extent that such information relates to the payment and verification of royalties due to the auditing party, and such information as is necessary to establish any apparent claim for underaccounting) shall not be made
available to the party requesting such audit and the requesting party shall instruct the auditor that such information is not to be made available to any third party. 
  

	8.	Payment Currency 

  

	8.1	The payment due under clause 6.1(a) shall be paid in US dollars and any other payments due from either party to the other party hereto shall be paid to the receiving party in the
currency of the receiving party’s country, and payments in respect of royalties shall be converted to that currency at the official selling rate prevailing in the paying party’s country for transfers to the receiving party on the last
business day of the reporting period in question. 

  

	9.	Commercial Marketing 

  
 Each party will use all reasonable endeavours to promote and market LEP Display Devices for commercial purposes including that SEC will use, and will use
all reasonable endeavours to procure that any direct or indirect purchaser who intends to resell, manufacture, process or assemble the LEP Display Device or Product in question is placed under an obligation to use in relation to each LEP Display
Device or Product produced under licence as contemplated hereunder such trade marks, design and/or wording in conjunction with at least one of the LEP Display Devices and Products themselves or their associated packaging or advertising or
promotional material whichever is the most practical, as CDT reasonably directs from time to time, such marks, designs or wording being intended generally to indicate such licence and/or designate the LEP Display Device or Product in question as
incorporating LEP Technology. 
  

	10.	Confidentiality 

  

	10.1	Each party hereto shall treat all Technical Information received by it from the other party hereto as confidential and (except as provided by the JDA) shall ensure that the same is
used by it solely for the purpose of manufacture, use, sale, offer to sell, import, lease or other disposal of the LEP Display Devices as herein provided, and shall not disclose (whether in connection with any patent application or for any other
reason whatsoever) any such information or any part thereof to any third party except to the extent as may be strictly necessary for the purposes of having LEP Display Devices manufactured for it. In the case that CDT grants a license to a third
party, SEC’s know-how shall be dealt with in accordance with clause 3.2 and in accordance with this provision. 

  

 11 

	10.2	Nothing herein contained shall be construed as restricting the use of any information by the party receiving the same, or restricting or creating any liability for the disclosure,
communication or use of any Technical Information, which: 

  

	 	(a)	is or becomes public knowledge other than by default of the receiving party; or 

  

	 	(b)	is received from a third party without restriction; or 

  

	 	(c)	is already known to the receiving party at the time of receipt. 

  

	11.	Freedom of Patenting Policy 

  

	11.1	Nothing in this Agreement shall be construed as imposing or implying: 

  

	 	(a)	a warranty or representation that any patent licensed hereunder is valid; or 

  

	 	(b)	an obligation to apply for any patent; or to maintain any patent when granted; or 

  

	 	(c)	an obligation to prosecute any action for infringement of any patent; or 

  

	 	(d)	an obligation to defend any allegation or claim that a patent is invalid; or 

  

	 	(e)	the grant of any licences other than those specifically granted hereunder. 

  

	12.	Continuation of Project 

  

	12.1	Both parties recognise the benefits of continuing to co-operate together to develop and produce new LEP Display Device technology and agree therefore to extend the Project by a
further 2 years from the date of this Agreement and clauses 8 and 9 of the JDA shall be read accordingly. 

  

	13.	Nature of Agreement 

  

	13.1	Each party shall be entitled to perform any of the obligations undertaken by it and to exercise any rights granted to it under this Agreement through any Member of its Group,
provided that any act or omission of any such Member of the Group shall, for all the purposes of this Agreement be deemed to be the act or omission of that party. 

  

	13.2	Subject to clause 13.1 this Agreement is personal to the parties and neither party may assign, mortgage, charge (otherwise than by floating charge) or (except as provided for in
this Agreement) sub-license any of its rights hereunder, or sub-contract or otherwise delegate any of its obligations hereunder, except with the written consent of the other party. 

  

 12 

	13.3	For the avoidance of doubt even if either party assigns a part or all of its Background Technology or Project Technology, the other party shall continue to be entitled to receive a
license of the assigned Background Technology or Project Technology as contemplated in this Agreement. 

  

	13.4	Nothing in this Agreement shall create, or be deemed to create, a partnership, or the relationship of principal and agent, between the parties. 

  

	13.5	Each party warrants to the other that it has the authority to enter into this Agreement. 

  

	13.6	Each party (“indemnitor”) hereby agrees to indemnify and keep indemnified the other (“indemnitee”), its servants and agents from and against all actions, claims,
costs and demands which may be brought or made against the indemnitee and all loss, damage, injury and expenses of any kind suffered by the indemnitee of whatever nature and howsoever arising whether in negligence or otherwise in connection with any
LEP Display Device or Product manufactured by or on behalf of the indemnitor. 

  

	13.7	In the event that it is determined finally as the last resort by competent court, tribunal or patent office that US patent 5247190 or patents/applications corresponding to US
5247190 is invalid, otherwise unenforceable against any party or having no-patentability, then both parties shall discuss, the terms and conditions of this Agreement. 

  

	14.	Approval Of Competent Authorities 

  

	14.1	With the exception only of the Japanese Authorities, CDT shall be solely responsible for determining the need for any notification of this Agreement and any licences granted
hereunder to any competent Authority and for complying with any such requirement for notification, by way of example notification to the European Commission, and for payment of any taxation of this Agreement, by way of example UK Stamp Duty. SEC
shall be solely responsible for determining the need for any notification of this Agreement and any licence granted hereunder to any appropriate Japanese Authority. 

  

	15.	Term 

  

	15.1	Subject to the following clause, this Agreement shall terminate at midnight on 31st December 2010 (“the Term”). At such time as is mutually agreeable, at the
written request of either party hereto to the other party hereto, but in no event less 

  

 13 

 than six (6) months prior to the expiration of this Agreement the parties hereto shall discuss the
possible extension of or the renewal of the term of this Agreement, including the possible amendment of the provisions thereof. 
  

	16.	Termination 

  

	16.1	If either party commits any material default with regard to any of its obligations under this Agreement, then the other party may terminate this Agreement forthwith by giving
written notice to the other party if that other party has failed to remedy the default in question within three months of being given a written notice which specifically refers to this clause; specifies the nature of the default and requires it to
be remedied. For the purposes of this clause a breach of an obligation shall be regarded as being remedied if the party in breach complies with that obligation in all respects other than the time of performance. 

  

	16.2	If either party goes into liquidation or has a receiver appointed of its assets then the other party hereto shall have the right to terminate this Agreement forthwith.

  

	16.3	If either party is assigned or transferred or merged with a third party which is considered by the other party (acting reasonably) to be hostile to it then that other party, shall
have the right to terminate this whole Agreement forthwith. In the event that the other party will not terminate this Agreement, the assigned, transferred or merged party shall at the request of the other party procure that the assignee, transferee
or merging third party as the case may be shall enter a direct covenant with the other party to observe the terms and conditions of this Agreement. 

  

	16.4	Upon the termination of this Agreement for any reason: 

  

	 	(a)	any licence under any Background Technology granted to a party by the other pursuant to the terms of this Agreement prior to such termination (including for the avoidance of doubt
the right for CDT to sub-license) shall continue to full force for the full life of the Background Technology in question under the terms and conditions agreed by both parties through a good faith negotiation; 

  

	 	(b)	the consents/licences granted pursuant to clauses 3.1 and 3.2 in respect of Project Technology shall continue in full force; 

  

	 	(c)	the party who is entitled to terminate this Agreement following the service of a notice pursuant to either section 16.1 or 16.2 shall continue to be entitled to receive a licence of
the other party’s Background Technology acquired or developed at any time whether before or after such termination provided that party shall be obliged to pay royalties and other sums in respect thereof; 

  

 14 

	 	(d)	for the avoidance of doubt: 

  

	 	(i)	all rights restrictions and obligations applicable to the exercise of the consents and licences which survive any termination of this Agreement will continue in full force and
effect; and 

  

	 	(ii)	any sub-licence granted by CDT pursuant to clause 3.2 prior to such termination shall be unaffected by any such termination together with any obligation to pay royalties and other
sums in respect thereof without prejudice for the avoidance of doubt to the continuation in force for its remaining term of any licence or sub-licence, granted to SEC as contemplated by clause 3.2(b)(ii); 

  

	 	(e)	the JDA if it has not already been terminated or expired shall terminate; 

  

	 	(f)	the provisions of clauses 10 and 11 shall continue in force indefinitely, although subject thereto, neither party shall be prevented from using any Technical Information supplied to
it by the other party hereto or the JDA for the purposes of the licences referred to in clause 16.4(a) (b) and (c); and 

  

	 	(g)	subject as provided in this clause 16, and except in respect of any accrued rights, neither party shall be under any further obligation to the other. 

  

	17.	Force majeure 

  

	17.1	Neither party shall be deemed to be in breach of this Agreement, or otherwise be liable to the other, by reason of any delay in performance or non-performance of any of its
obligations under this Agreement to the extent that such delay or non-performance is due to any cause beyond its reasonable control including but not limited to any strike, lockout or other form of industrial action (an “Event of Force
Majeure”). 

  

	17.2	The party affected by the Event of Force Majeure shall immediately give the other party written notification of the nature and extent of the event of force majeure and the parties
shall enter into bona fide discussions with a view to alleviating its effects or to agreeing upon such alternative arrangements as may be fair and reasonable. 

  

 15 

	18.	Notices 

  

	18.1	Any notice to a party under this Agreement shall be in writing signed by or on behalf of the party giving it and shall, unless delivered to a party personally, be left at, or sent
by prepaid first class post, prepaid recorded delivery or facsimile to the address of the party as set out on page 1 of this Agreement or as otherwise notified in writing from time to time. 

  

	18.2	Except as referred to in sub-clause 18.3, a notice shall be deemed to have been served: 

  

	 	(a)	at the time of delivery if delivered personally; 

  

	 	(b)	96 hours after posting; or 

  

	 	(c)	2 hours after transmission if served by facsimile on a business day prior to 3pm or in any other case at 10 am on the business day after the date of despatch.

  

	18.3	If the deemed time of service is not during normal business hours in the country of receipt, the notice shall be deemed served at or, in the case of faxes, 2 hours after the opening
of business on the next business day of that country. 

  

	19.	Further assurance 

  

	19.1	After this Agreement has been signed by both parties, each party shall execute such documents and take such steps as the other party may reasonably require to fulfil the provisions
of and to give to each party the full benefit of this Agreement. 

  

	19.2	In the event that CDT grants to any third party a license with respect to CDT’s Background Technology on terms and conditions more favourable than those granted hereunder to
SEC. CDT shall inform immediately SEC of such licence and SEC shall have the right to receive the more favourable terms and conditions with effect from the date the more favourable licence was granted and subject however to SEC undertaking all the
terms and conditions as are undertaken by the relevant third party. The forgoing right shall not apply: 

  

	 	(a)	where CDT has received a grant of patent rights, a licence or immunity, or other than a monetary consideration for such a licence; 

  

	 	(b)	where the more favourable terms apply by reason of consideration given in settlement of a claim of intellectual property rights infringement involving CDT; or

  

 16 

	 	(c)	where SEC elects to continue its licences on the terms set out in this Agreement. 

  

	20.	Partial Invalidity Of Agreement 

  

	20.1	Any partial invalidity shall be remedied so as to give as nearly the same effect as the invalid clause and the Agreement as a whole shall not be rendered invalid and shall otherwise
continue in full force and effect. 

  

	21.	Governing Law 

  

	21.1	This Agreement shall be interpreted and construed in accordance with the laws of England and the parties agree to submit to the jurisdiction of the English courts.

  

	21.2	Any question arising out of this Agreement as to the construction or effect of any patent or patent application shall be decided in accordance with the laws of the country in which
the patent or patent application in question has been granted or filed or exists. 

  

	21.3	If any question or matter arises as to the calculation or determination of Net Sales Value (insofar as it depends on the price or “arms length price” of any LEP Display
Device), either Party may refer the matter to an expert for determination. The Parties shall appoint such member of the Institute of Chartered Accountants in England and Wales, with relevant experience, as they may agree, or in the absence of
agreement as shall be nominated by the President for the time being of that Institute, who shall decide the matter as soon as reasonably practicable and in any event within three (3) months of his/her appointment. 

  

	21.4	The costs of such appointment shall be borne by the Parties in such proportion as the expert thinks fit. The Parties shall make available to the expert all such information and
documents as he/she reasonably requires for the purpose of making his/her determination. The determination of the expert shall be final and binding on both Parties. 

  
 Schedule A 
  
 The Patent/Patent Applications 
  

 17 

			
	 Signed by
	 	 
		
	 /s/ Daniel R. Chapchal

	 	 25/11/1999

	 Mr. Daniel R. Chapchal
	 	 
	 Chief Executive Office
	 	 
	 Cambridge Display Technology
	 	 
		
	 /s/ Masanori Kawai

	 	 25/11/1999

	 Masanori Kawai
	 	 
	 Managing Director
	 	 
	 Seiko Epson Corporation
	 	 

  
 This agreement is subject to the
further agreement of the text of a side letter relating only to the following: 
  
 Clause 3.2(b)(ii)1 
  
 Clause 3.2(b)(iii) 
  
 Such letter to be agreed within 30 days of the signing of this agreement. The date of the
side letter shall replace the date of the agreement. 
  
 If no such letter is
agreed by the given date this agreement is null & void. 
  

 18

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