Document:

Exhibit 10.10

 

BUSINESS ASSISTANCE AGREEMENT

 

This Business Assistance Agreement (the “Agreement”) is entered into on March 29, 2018, between Toppan Printing Co., Ltd., a company organized under the laws of Japan (“Toppan”), and VTS-Touchsensor Co., Ltd. (formerly known as Toppan Touch Panel Products, Co., Ltd.), a company organized under the laws of Japan (the “Company”). This Agreement is effective from March 26, 2018 (the “Effective Date”). Each of Toppan and the Company is referred to as a “Party”, and together, as the “Parties”.

 

RECITALS

 

A.                                    Toppan operates a business in Japan that develops, manufactures and markets copper touch panel sensors used in touch panel modules and copper PET film used in touch panel sensors (the “Business”).

 

B.                                    Toppan and VIA optronics GmbH, a company organized under the laws of Germany (“VIA”), entered into a Framework Agreement dated November 30, 2017 (the “Framework Agreement”) pursuant to which (i) Toppan will transfer certain assets and liabilities relating to the Business to the Company and (ii) VIA will own 65% of the Company and Toppan will own 35% of the Company.

 

C.                                    In accordance with Section 2.07(a) of the Framework Agreement, the Company desires to procure, and Toppan desires to provide, certain services to support the Business, including administrative and back-office support, procurement support and design and mask support.

 

The Parties hereby agree as follows:

 

1.                                      Term.

 

(a)                                 The term of this Agreement (the “Term”) shall begin on the Effective Date, and shall continue for 3 years unless terminated earlier (i) in writing by the Company on the 30th day after the Company delivers a notice of termination to Toppan in writing or (ii) pursuant to Section 1(b), Section 1(c), or Section 1(d).

 

(b)                                 Either Party may terminate this Agreement immediately upon giving written notice to the other Party if the other Party: (1) becomes insolvent or its liabilities exceeds its assets; (2) suspends payments or any drafts or checks drawn, issued, or undertaken by the other Party are dishonored, (3) becomes subject, voluntarily or involuntarily, to any bankruptcy, civil rehabilitation, corporate reorganization, or other legal procedure for debt restructuring or work-out (out-of-court procedure for its debts); or (4) is dissolved or liquidated or takes any corporate action for such purpose.

 

(c)                                  Either Party may terminate this Agreement immediately upon giving written notice to the other Party if the other Party materially breaches this Agreement and, if such breach is curable, fails to cure such breach within 15 days after the first Party’s written notice of such breach.

 

 

(d)                                 Toppan may terminate this Agreement immediately upon giving written notice to the Company if (i) VIA, alone or in combination with its affiliates, no longer has a majority stake in the Company or the right to appoint a majority of the Company’s board members, or (ii) Toppan no longer holds any shares in the Company.

 

2.                                      Services.

 

(a)                                 Toppan shall perform the services set forth on Schedule 1 (the “Services”) in accordance with the terms contained therein. The Services set forth on Schedule 1 may be altered, from time to time, to expand, reduce or delete Services, to alter the scope of any of the Services, or to modify their frequency (in which case appropriate changes to the section of the Payment of the Work (Cost of Consignment), including the Standard Monthly Fee, may be made) upon mutual consent of the Parties, which consent shall revise Schedule 1 and supersede and replace the Schedule 1 then in effect. The Company shall furnish Toppan with such information and other reasonable assistance as is necessary to enable Toppan to perform the Services.

 

(b)                                 Toppan will use reasonable and good care, skill and diligence to perform the Services, which shall be at minimum at the same level as Toppan provides or would provide to its own firm or to its other affiliates under similar circumstances.

 

3.                                      Staffing. In the provision of Services, Toppan will allocate an appropriate number of staff with appropriate qualifications to perform the Services.

 

4.                                      Fees and Expenses.

 

(a)                                 In consideration for the Services provided by Toppan, the Company shall pay Toppan an amount equal to the aggregate figures listed in “(4) Payment of the work (Cost of consignment) - Standard Monthly Fee” in Schedule 1, subject to the adjustment set forth in Section 5 below (the “Fees”).

 

(b)                                 Toppan may, with the Company’s consent, incur expenses, such as travel expenses, in connection with performance of the Services (the “Expenses”). Toppan shall pay the Expenses in the first instance and the Company shall reimburse Toppan for the Expenses. The Company acknowledges that if it does not grant its consent to Toppan’s incurrence of an expense, Toppan will not be obligated to incur that expense and Toppan will not be deemed to have breached its obligation to perform a Service if the reason Toppan does not perform the Service is attributable to the Company’s failure to consent to an expense that is necessary for Toppan’s performance of the Service.

 

5.                                      Invoicing for Fees and Expenses. Toppan shall calculate the Fees for Services rendered each month, taking into account the proportion of total work hours each Toppan staff spends on the Services (i.e., the Fees for a Toppan staff who spends 80% of his or her work time performing a Service would be that proportion multiplied by the Standard Monthly Fee

 

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corresponding to the Service) will invoice the Company monthly for the Fees for Services rendered and for Expenses incurred through the end of each month. Each invoice shall include sufficient detail to support the Fees and Expenses set forth therein. All invoices will be in Japanese Yen. The Company will pay the invoiced amounts within 60 days of receipt of each invoice. Payments shall be made by wire transfer of immediately available funds to the following account, or such other account as Toppan may designate to the Company in writing:

 

Bank Name: SUMITOMO MITSUI BANKING CORPORATION

Branch Name: Nihonbashi

Branch Bank Address: 2-1-1, Nihonbashimuromachi, Chuo-ku, 
 Tokyo, 103-0022, Japan

SWIFT CODE: SMBCJPJT

Account No: 1025362

Beneficiary name: TOPPAN PRINTING CO., LTD.

Beneficiary address: 1-5-1, Taito, Taito-ku, Tokyo, Japan

 

6.                                      Supply Price. Any supplies obtained from third parties sold by Toppan to the Company in connection with the provision of the Services shall be sold without any mark-up and at the price that Toppan paid for such supplies.

 

7.                                      Books and Records. Toppan shall maintain accurate and complete books of account, documents and records relating to the provision of the Services for a period of five years from the creation of those books, and documents, and records. During the Term, Toppan agrees to provide the Company reasonable access to Toppan’s books and records that it is obligated to maintain pursuant to the previous sentence as necessary to monitor the Services and invoicing therefor.

 

8.                                      Confidentiality. Each Party agrees not to disclose the contents of this Agreement or the other Party’s Confidential Information without the other Party’s advance written consent. “Confidential Information” of a Party means all non-public or sensitive or proprietary information about or of that Party but does not include information (a) that has become publicly known through no breach by either Party of its confidentiality obligations hereunder, (b) that is independently and lawfully developed or obtained by a Party without access to the other Party’s Confidential Information, (c) is or becomes available to a Party on a non-confidential basis from a third Person, on condition that that third Person is not and was not prohibited from disclosing that information, or (d) that was known by or in the possession of a Party before the disclosure of that information to that Party pursuant to this Agreement, on condition that, in the case of each of (a) through (d), the Party seeking to disclose such information has the burden of demonstrating that it is not Confidential Information: provided, however, each Party may disclose such Confidential Information to its affiliates, in each case on a need-to-know basis for the purpose of facilitating the performance of this Agreement, on condition that the disclosing Party cause its affiliates that have received any Confidential Information of the other Party to comply with this provision and that the disclosing Party be responsible for any act by such affiliates that would constitute a breach of this provision had the act been undertaken by the disclosing Party. A Party may disclose Confidential Information of the other Party if required pursuant to applicable law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction, on condition that the Party first make commercially reasonable efforts to provide the other Party

 

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(i) prompt written notice of such requirement so that the other Party may seek, at its sole cost and expense, a protective order or other remedy, and (ii) reasonable assistance, at the other Party’s sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on disclosure.

 

9.                                      Relationship of the Parties. In performing the Services, it is understood and agreed that Toppan will be deemed to be an independent contractor of the Company.

 

10.                               Indemnification.

 

(a)                                 Toppan shall indemnify the Company from and against any loss, liability, damage or expense suffered or incurred as a result of Toppan’s gross negligence or willful misconduct in performing the Services, in accordance to the general principals of applicable contract laws in Japan.

 

(b)                                 WITH THE EXCEPTION OF THE FIRST SENTENCE IN SECTION 2(b), TOPPAN EXPRESSLY DISCLAIMS ALL WARRANTIES CONCERNING THE SERVICES (INCLUDING THE RESULTS OF THE SERVICES); WHETHER EXPRESS OR IMPLIED BY LAW.

 

(c)                                  EXCEPT FOR DAMAGES ARISING FROM EITHER PARTY’S INTENTIONAL MISCONDUCT OR GROSS NEGLIGENCE, TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE, OR ENHANCED DAMAGES WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PRODUCT LIABILITY, OR OTHERWISE (INCLUDING THE ENTRY INTO, PERFORMANCE, OR BREACH OF THIS AGREEMENT). UNDER NO CIRCUMSTANCES WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR DAMAGES IN EXCESS OF THE AMOUNT OF PAYMENTS RECEIVED BY TOPPAN UNDER THIS AGREEMENT.

 

11.                               Communication. All written or oral communication between the Parties related to this Agreement and that involve the participation of a Company officer, director, or employee who does not speak Japanese shall be in the English language. Other communications in connection with this Agreement between Japanese-speaking Toppan personnel and Japanese-speaking Company personnel may be in Japanese if it is efficient to do so and as long as any information exchanged in such communications that is material to the Company’s operations or that should, by its nature, be conveyed to the Company board of directors, is subsequently recorded or conveyed to the Company board in English. All costs and expenses related to any translation or interpretation services required by either Party shall be borne by the Party requiring such translation or interpretation services.

 

12.                               Notices. All notices under this Agreement that are required to be in writing shall be given in writing upon receipt by either registered mail, return receipt requested, by recognized overnight courier, by email, or by such other means as the Parties mutually agree, as follows:

 

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If to Toppan:

 

Toppan Printing Co., Ltd.

Toppan Shibaura Bldg.

3-19-26 Shibaura Minato-ku, Tokyo 108-8539

Email: teruo.ninomiya@toppan.co.jp

kentaro.kitaoka@toppan.co.jp

Attention: Teruo Ninomiya and Kentaro Kitaoka

 

If to the Company:

 

VTS-Touchsensor Products, Co., Ltd.

1101-20, Myohoji-cho, Higashiomi

Shiga, 527-0046, Japan

Email: JWoerle@via-optronics.com

Attention: Dr. Jasmin Wörle

 

With a copy (which will not constitute notice):

 

VIA optronics GmbH

Sieboldstr. 18, 90411 Nurnberg

E-mail: kbickelbacher@via-optronics.com

Attention: Kathrin Bickelbacher

 

Jones Day

Kamiyacho Prime Place

1-17, Toranomon 4-chome

Minato-ku, Tokyo 105-0001, JAPAN

E-mail: mushiiimaionesday.com

Attention: Makiko Ushijima

 

13.                               Headings. The headings in this Agreement are for reference only and do not affect its interpretation.

 

14.                               Entire Agreement. This Agreement, and all related Schedules hereto or Statements of Work delivered hereunder, constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to this subject matter.

 

15.                               Successors and Assigns; Assignment. This Agreement is binding upon and will inure to the benefit of the Parties and their respective successors and permitted assigns. Neither Party shall assign its rights or obligations hereunder without the advance written consent of the other Party, which consent must not be unreasonably withheld or delayed by either Party. No assignment will relieve the assigning Party of any of its obligations hereunder.

 

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16.                               No Third Party Beneficiaries. This Agreement is for the sole benefit of the Parties (and their respective successors and assigns) and nothing herein, express or implied, is intended to or will confer upon any other Person, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

17.                               Amendment and Modification; Waiver. This Agreement may be amended, modified or supplemented only by an agreement in writing signed by each Party. No waiver by either Party of any other provisions hereof will be effective unless explicitly set forth in writing and signed by that Party. No waiver by either Party will be, or will be construed as, a waiver in respect of any failure, breach or default not expressly identified by that written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement will be, or will be construed as, a waiver thereof, nor will any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

18.                               Governing Law. This Agreement shall be governed by and construed in accordance with the laws of Japan without giving effect to any choice or conflict of law provision or rule.

 

19.                               Dispute Resolution. The Parties shall endeavor to resolve any dispute, controversy or difference arising out of, in connection with, or related to this Agreement (a “Dispute”) though good-faith negotiations. If a Dispute is not settled within 20 days after receipt by a Party of a written request for negotiation under this Section 19, the Dispute will be referred for consideration by the Parties’ senior officers. The senior officers will have full authority to settle the Dispute. If the senior officers are unable to resolve the Dispute within 20 days after the receipt by a Party of a written request for consideration of the Dispute by senior officers under this Section 19, the Parties shall submit the Dispute to arbitration in Tokyo in accordance with the Commercial Arbitration Rules of the Japan Commercial Arbitration Association for final settlement. The Parties shall appoint three arbitrators in accordance with the rules and shall conduct the arbitration in English. The decision by the arbitration tribunal will be final and binding on the Parties and may be approved of or entered in (or otherwise be granted enforceability through necessary procedures by) any court having jurisdiction. The Parties consent to the consolidation by the Japan Commercial Arbitration Association of arbitral proceedings initiated under this Agreement with arbitration proceedings initiated under any one or more of the Ancillary Agreements (as defined in the Framework Agreement) (notwithstanding the fact that those agreements may be governed by different laws).

 

20.                               Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email or other means of electronic transmission will be deemed to have the same legal effect as delivery of any original signed copy of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Parties have executed this Business Assistance Agreement on the date first stated above.

 

	
 
    	
TOPPAN PRINTING   CO., LTD.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Teruo Ninomiya
    
	
 
    	
Name: Teruo Ninomiya
    
	
 
    	
 
    
	
 
    	
Title: Senior General   Manager
    

 

 

IN WITNESS WHEREOF, the Parties have executed this Business Assistance Agreement on the date first stated above.

 

	
 
    	
VTS-TOUCHSENSOR   PRODUCTS, CO., LTD.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Dr. Jasmin Wörle
    
	
 
    	
Name: Dr. Jasmin   Wörle
    
	
 
    	
 
    
	
 
    	
Title: Representative   Director
    

 

 

Schedule 1   Consignment Work List Monthly Fee delivery customer’s approval. (TP Technical   Taro Sakamoto company company statement (draft) will be Prepared confirmation   / approval of contents government offices at an appropriate electronic   manifest 7 business days. Before appraisal, appropriate personnel   consideration (compensation) for Response to social security system expenses   for principal environment Performing obligation environment environment in   compliance with laws Department 1) Scope of Work 2) Task 3) Deliverables 4)   Payment of the work (Cost of consignment) 5)Expected Outcomes (e.g. PO issued   financial data provided on xx date,) Proportion (Schedule) Number of   Persons/month Standard Sales/CS Supporting Sales and production control   Preparation of price proposal, creation of quotation for customer submission   Develop customer supply drawing, hold design review meeting Product   arrangement Follow up delivery schedule Shipment arrangement Processing   instructions at the time of complaint Price Proposal, Quotation Design Review   Minutes Payment date response form Shipping instructions Processing in the   factory related to complaint processing 100% 2 persons 979, 276 Replying   price to customer requirements Adjustment for customer’s requested date   Delivery of products as expected Appropriate complaint handling Design   Manufacturing design operation 1) Pattern design 2) CAD 3) Checking Drawing   1) Mask design instruction, customer approval drawing 2) 3) Mask Production   drawing (toppan – mask vendor) 100% ‘33%x3 Persons’ 6 persons 3 persons   5,213,904 551,782 816,008 1). Pattern design according to customer’s request   and get Opening 2T) 2) Instructions for manufacturing masks according to   customers’ requests (Manufacturing design (Shim)) 3) Instructions for   manufacturing masks according to customers’ requests 1) Pattern Design   Takahiro Harada (Manager) Kanae Bani Bi shi (Contract Engineer) Masaaki   Serizawa (Contract Engineer) Muhammad Razin (Contract Engineer) 2)CAD, 3)   Checking Drawing Yasunori Kitagawa Tetsutaro Kawabata Kazuki Shima   Procurement Purchasing service agency 1) Main materials, sub-materials and   equipment procurement 2) Purchasing specification maintenance 3) Vendor   management 4) Repair price negotiation Possible procurement under letterpress   transaction Counterparty on concluding and maintenance Stable procurement   through monitoring Possible procurement under letterpress transaction   conditions (price, delivery date) 100% 2 persons Price negotiation for cost   reduction Reduction of workload of new company Reduction of workload of new   Reduction of workload of new Accounting Accounting / accounting work of the   new company, substitution for inventory calculation work 1) Bookkeeping   business 2) Management of liability outstanding balance 3) Payment approval   work 4) Calculation of valuation of products • work in process 0) Others VTS,   work agreed on letterpress (assuming support for account owning and tax   notice) Based on Japanese GAAP Balance sheet • Profit and loss statement   (draft) (Response and explanation such as confirmation / approval of contents   and audit etc. Responsibility is out of scope) 100% 1 person 1,1478,001 Based   on Japanese GAAP Balance sheet • profit and loss (Response and explanation   such as and audit etc. Responsibility is out of scope) Environment Work   related to environmental improvement 1) Government agency reporting of   notification procedures and annual results (energy, chemicals, industrial   waste) based on environmental laws of the new company 2) Follow-up system for   industrial waste disposal (Support for concluding contract with contractor,   support for electronic manifest operation) 3) Support for continuation of ISO   14001 certification Conduct obligation to comply with government agency   reports on environment Conclusion of contracts for contracting industrial   waste • commissioned operation, electronic manifest operation support   Continuation of ISO 14001 certification 30% 30% 40% 1 person 1person 1 person   197,871 Report notification procedures and yearly results (energy, chemical   substances, industrial waste) based on environmental laws of VTS to time.   Support for concluding contract with contractor for industrial waste   disposal, support for managing Continued ISO 14001 certification, prevention   of environmental accidents General Affairs Administrative work of seconded   employees 1) Labor management (such as attendance management, arrangement of   medical examination etc.) 2) Personnel evaluation, personnel change   correspondence (adjustment of appraisal of regular salary / bonus,   correspondence of personnel change, organization of various in-house   education, etc.) 3) Salary / bonus calculation, payment 4) Social insurance   (health insurance / welfare pension) Employment insurance procedure 5)   Contingency expense, checking of business trip settlement work (general   affairs approval work ... BIT system) 6) Welfare welfare (welfare   association, financial form, Izumi party, lek, various events, etc.) 7)   Payment processing of expenses necessary for the operation of corporate   activities (facility utility fee (gas, electricity & water), pest control   • cleaning & garbage disposal fee, medical examination, postage charge,   uniform cleaning fee etc.), as agreed by the Company 8) Labor Insurance   premium payment support (data provision to social insurance labor office) We   provide time data (overtime work / temporary attendance time) from 1st of the   current month to the end of this month by the next implementing the medical   examination, notify the list of subjects and estimate amount. Adjustment   result of adjustment of personnel evaluation (regular salary revision, bonus   ... twice a year, grading promotion, supervisory appointment and dismissal)   feedback, reflection on salary • bonus amount, notification of personnel   change notification before implementation, notification before implementation   of various In-house training Salary payment to seconded employees is 25th   every month. Present invoiced labor cost to VTS from accounting (in the case   of salary base at the end of the current month, on the basis of labor cost the   eighth business day of the next month) Payment of insurance premium.   Regarding company burden amount, it is presented from accounting, including   in labor cost. Payment is carried out at any time. We present billing   expenses to VTS from accounting. Presentation from company accounting   Presented from accounting by billing amount Provide data to the social   insurance labor office at the annual renewal (June) 100% 1 person 494,680   Realization of a healthy working environment conforming to laws and   regulations. Employee health management. Reflect on the treatment according   to allocation Execution obligation to pay labor Completion obligation of   liquidating Realization of safe and secure work to pay necessary expenses.   Realization of a clean and safe work Realization of a healthy working and   regulations 

    

 

Monthly Fee   sorting customer delivered items and instructed by VTS. VTS, shipping   processing: creation finished products, reporting to VTS carry out the work   from issuance of company and training based on BCP accidents (Note) Either   delegate Department 1) Scope of Work 2) Task 3) Deliverables 4) Payment of   the work (Cost of consignment) 5)Expected Outcomes (e.g. PO issued financial   data provided on xx date,) Proportion (Schedule) Number of Persons/month   Standard Production Control Product shipping business 1) Acceptance / sorting   of products: acceptance of shipped products from the VTS manufacturing   department, sorting of customer delivered items and outsourced processed   items 2) Issuance of product label: the work from issuance and pasting of   packing exterior label required for product (including issuance and pasting   of case mark of products to be shipped to overseas customers) 3) Shipment   processing: creation of shipping processing details of finished products,   reporting to VTS production management, issuance of invoice 4) Packing   /.shipping: work until issuance of a form required for shipping the product   to the shipping company Inventory table Product label Delivery note Packing /   shipping: Issuance of a form required for shipping products 100% 2 persons   1,086,004 Acceptance of shipped products from the VTS manufacturing division,   outsourced processed items. Issue and paste the product label as According to   the Instructions of of shipping processing details of production management   and issuing invoice Follow the instructions of VTS to the form required for   shipment to delivery to the shipping company. Quality Control QMS management   secretariat Management of chemical substances contained in products BCP   Management Office Safety risk assessment secretariat 1) Internal audit   management, auditor training 2) New company OMS launch support 3) Support for   acquisition of ISO 9001 certification 1) Supplier survey, preparation of   report 2) Management of green procurement guidelines 1) Document management,   BCP training to letterpress or consult after April 1) Secretariat of in   -process work risk analysis (publication setup) Internal audit report,   auditor certification Quality manual, upper standard revision ISO 9001   certification Product content survey report Green Procurement Guidelines   Prepare for response in case of emergency Risk assessment table 15% 20% (2%)   5% 2 persons 1 person (1 person) 1 person 349,236 Construction and operation   of the new company’s OMS Acquired 1509001 certification Reduction of workload   of new Continuation of BCM and education Risk reduction of occupational 

    

 

 

AMENDMENT TO

BUSINESS ASSISTANCE AGREEMENT

 

This Amendment to Business Assistance Agreement (this “Amendment”) is dated as of April 1, 2019 (the “Amendment Effective Date”), and is by and between Toppan Printing Co., Ltd., a Japanese corporation with its principal place of business at 3-19-26 Shibaura Minato-ku, Tokyo 108-8539, Japan (“Toppan”), and VTS-Touchsensor Co., Ltd., a Japanese corporation with its principal place of business at1101-20, Myohoji-cho, Higashi-ohmi, Shiga 527-0046 Japan (“VTS”). Defined terms used herein not otherwise defined shall have the meaning ascribed to them in the Agreement (as defined below).

 

RECITALS

 

WHEREAS, the parties entered into BUSINESS ASSISTANCE AGREEMENT dated March 29, 2018 (the “Agreement”).

 

WHEREAS, the parties wish to amend the terms and conditions of the Agreement.

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto agree as follows:

 

1.              Amendment to SCHEDULE 1 Consignment Work List. The parties hereto hereby delete SCHEDULE 1 Consignment Work List in its entirety and replace SCHEDULE 1 Consignment Work List to read as the SCHEDULE 1 Consignment Work List attached hereto.

 

2.              Term and Termination. This Amendment shall take effect on April 1, 2019, and shall terminate on March 31, 2020.

 

3.              All Other Terms Remain in Effect. Except and to the extent modified herein, all terms and conditions of the Agreement shall remain in full force and effect. This Amendment may be executed in any number of counterparts, and delivered via e-mail transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto execute this Amendment as of the Amendment Effective Date.

 

	
Toppan
    	
 
    	
VTS
    
	
 
    	
 
    	
 
    
	
Toppan Printing   Co., Ltd.
    	
 
    	
VTS-Touchsensor   Co., Ltd.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Yoji Tonooka
    	
 
    	
By:
    	
/s/ Dr. Jasmin   Wörle
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
Yoji Tonooka
    	
 
    	
Name:
    	
Dr. Jasmin Wörle
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title
    	
Senior General Manager
    	
 
    	
Title
    	
Representative Director
    

 

1

 

AMENDMENT TO

BUSINESS ASSISTANCE AGREEMENT

 

This Amendment to Business Assistance Agreement (this “Amendment”) is dated as of April 1, 2020 (the “Amendment Effective Date”), and is by and between Toppan Printing Co., Ltd., a Japanese-corporation with its principal place of business at 3-19-26 Shibaura Minato-ku, Tokyo 108-8539, Japan (“Toppan”). and VTS-Touchsensor Co., Ltd., a Japanese corporation with its principal place of business at 1101-20, Myohoji-cho, Higashi-ohmi, Shiga 527-0046 Japan (“VTS”). Defined terms used herein not otherwise defined shall have the meaning ascribed to them in the Agreement (as defined below).

 

RECITALS

 

WHEREAS, the parties entered into BUSINESS ASSISTANCE AGREEMENT dated March 29, 2018 and its first Amendment dated April 1, 2019 (the ‘‘Agreement”).

 

WHEREAS, the parties wish to amend the terms and conditions of the Agreement.

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto agree as follows:

 

1.              Amendment to SCHEDULE 1 Consignment Work List. The parties hereto hereby delete SCHEDULE 1 Consignment Work List in its entirety and replace SCHEDULE 1 Consignment Work List to read as the SCHEDULE 1 Consignment Work List attached hereto.

 

2.              Term and Termination. This Amendment shall take effect on April 1, 2020, and shall terminate on March 25, 2021.

 

3.              All Other Terms Remain in Effect. Except and to the extent modified herein, all terms and conditions of the Agreement shall remain in full force and effect. This Agreement may be delivered by facsimile or electronic (pdf) transmission, and facsimile or electronic (pdf) copies of executed documents shall be binding as originals.

 

IN WITNESS WHEREOF, the parties hereto execute this Amendment as of the Amendment Effective Date.

 

	
Toppan
    	
 
    	
VTS
    
	
 
    	
 
    	
 
    
	
Toppan Printing   Co., Ltd.
    	
 
    	
VTS-Touchsensor   Co., Ltd.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/ Kazunori Katsumura
    	
 
    	
By:
    	
/s/ Mario Bernardo N.   Santos
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
Kazunori Katsumura
    	
 
    	
Name:
    	
Mario Bernardo N.Santos
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title
    	
Senior General Manager
    	
 
    	
Title
    	
Managing Director
    

 

1Exhibit 10.11

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

TRANSFERRED IP PURCHASE AGREEMENT

 

This Transferred IP Purchase Agreement (this “Agreement”) is entered into on March 29, 2018 between VTS-Touchsensor Co., Ltd. (formerly known as Toppan Touch Panel Products, Co., Ltd.), a company organized under the laws of Japan (“Buyer”), and Toppan Printing Co., Ltd., a company organized under the laws of Japan (“Seller”). Each of Buyer and Seller is referred to as a “Party.”

 

RECITALS

 

A.                                    Seller, which owns 35% of Buyer’s outstanding capital, and VIA Optronics GmbH, a company organized under the laws of Germany (“VIA”), which owns 65% of Buyer’s outstanding capital, are party to a Framework Agreement dated November 30, 2017 (the “Framework Agreement”), pursuant to which Seller has agreed to transfer to Buyer the Intellectual Property (this term, and all other terms that are capitalized but not defined in this Agreement, have the meanings set forth in the Framework Agreement) set forth in Exhibit A (the “Transferred IP”).

 

B.                                    The Parties enter into this Agreement to implement the transfer of the Transferred IP from Seller to Buyer in accordance with the Framework Agreement.

 

The Parties hereby agree as follows:

 

ARTICLE I
 TRANSFER OF TRANSFERRED IP; PAYMENT

 

Section 1.1.           Subject to the terms of this Article I, Seller shall sell and transfer the Transferred IP to Buyer in exchange for JPY568,675,000 (the “IP Purchase Price”).

 

Section 1.2.           On the Closing Date, Seller shall sell and transfer the Transferred IP to Buyer and Buyer shall pay JPY369,638,750 (exclusive of consumption tax) (the “Closing Payment”) to the Toppan Account. Buyer shall, in satisfaction of its obligation to make the Closing Payment to the Toppan Account, cause VIA to remit, pursuant to the terms of the shareholder loan agreement between VIA optronics GmbH (“VIA”) and Buyer dated the date hereof, the sum equivalent to the Closing Payment to the Toppan Account on the Closing Date, at the direction of Buyer. Seller confirms, for the avoidance of doubt, that upon the Closing, as between the Parties, Buyer will be the sole and exclusive owner of the Transferred IP and that Buyer will not be entitled to the return of any portion of the IP Purchase Price received by Seller for the reason that the registration of the transfer of the Transferred IP to Buyer has not been completed.

 

Section 1.3.           Buyer shall pay to the Toppan Account the amount of JPY199,036,250 (exclusive of consumption tax) (the “IP Purchase Price Balance”), which is the difference between the IP Purchase Price and the payment to be made pursuant to Section 1.2, in accordance with the following schedule,

 

1

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

	
Amount
    	
 
    	
Payment Due Date
    
	
JPY20,000,000
    	
 
    	
June 30, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
July 31, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
August 31, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
September 30, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
October 31, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
November 30, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
December 31, 2018
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
January 31, 2019
    
	
 
    	
 
    	
 
    
	
JPY20,000,000
    	
 
    	
February 28, 2019
    
	
 
    	
 
    	
 
    
	
JPY19,036,250
    	
 
    	
March 31, 2019
    

 

Interest of 6% per year, calculated on a daily basis from the date the payment was required to be paid to the date of actual payment payments, will be assessed to any late payment.

 

Notwithstanding the foregoing, Buyer may, at its discretion and upon providing 10 days’ prior notice to Seller, prepay any outstanding IP Purchase Price Balance to Seller anytime, including before the above scheduled date(s). Further, in the event that VIA, which is a majority shareholder of Buyer, notifies Seller and Buyer in writing, that VIA wishes to repay such outstanding IP Purchase Price Balance on behalf of Buyer as a third-party payment (daisansha bensai), Buyer shall agree to such repayment and Seller shall accept such repayment by VIA without raising any objection thereto.

 

Section 1.4.           Buyer’s obligation to pay the IP Purchase Price Balance is secured by a security interest in all of Buyer’s equipment and machinery as of the Closing Date in favor of Seller. Promptly after the Closing Date, the Parties shall negotiate in good faith a security agreement covering Buyer’s equipment and machinery. The Parties shall exercise best efforts to agree on and sign the security agreement by April 30, 2018. As soon as practicable after execution of the security agreement, the Parties shall deliver all other documents and take all other actions, in each case, that are necessary to perfect the security interest described in the previous sentence, and Buyer shall pay all costs associated with perfection of the security interests. If Buyer wishes to obtain financing from a bank (including the financing to cover costs associated with recording the Transferred IP set forth in Section 1.6), and if it is necessary for Seller to release its security interest in Buyer’s equipment and machinery for Buyer to obtain such financing, Seller shall release its security interest, and if Buyer does not obtain the bank financing, the security interest will be reinstated. Seller acknowledges that if it enforces its security interests, Seller will be entitled to recover only the amount of the unpaid IP Purchase

 

2

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

Price Balance at the time of such enforcement of Buyer’s assets that are enforced, the value of which will be determined in a commercially reasonable manner.

 

Section 1.5.           The sale and transfer of the Transferred IP to Buyer is conditioned on Buyer’s completion of the payment set forth in Section 1.2.

 

Section 1.6.           Buyer shall at its own cost and expense take all necessary steps to record the transfer of the Transferred IP with the Japan Patent Office and other relevant patent offices and perfect the transfer of the Transferred IP promptly after the Closing. Seller shall provide reasonable assistance to Buyer in this regard (which assistance will require Seller to review promptly and where appropriate, sign documents provided by Buyer to record the transfers, and to instruct its patent agents to cooperate with Buyer and Buyer’s patent agents to facilitate recordation of the transfers). For the avoidance of doubt, during the period from the Closing Date and until the completion of the registration of each such transfer, (i) Seller shall not use the Transferred IP to assert any infringement, misappropriation other similar claim against Buyer in respect of any activity whatsoever by Buyer, and (ii) if there is any response or payment that must be made with a governmental authority in April 2018 to maintain a Transferred Patent and if Buyer does not have standing to take that action but Seller does, Seller shall, if requested by Buyer or VIA, instruct its patent agent to take such action, on condition that (A) if the action is a payment, Buyer provides the amount of payment (including patent agent fees or other similar fees) to Seller before Seller or its patent agent makes the payment, and if Buyer is not able to provide the money in advance for lack of time, Buyer reimburses the payment amount (including patent agent fees or other similar fees) to Seller immediately after Seller or its patent agent has made the payment, and (B) Buyer acknowledges that Seller makes no representation or guarantee whatsoever about the result of actions taken by Seller pursuant to this provision.

 

Section 1.7.           After the Closing, Buyer shall be solely responsible for prosecuting any patent applications included in the Transferred IP. Seller shall provide reasonable assistance to Buyer with respect to ongoing patent applications in exchange for reasonable compensation payable by Buyer as agreed by the Parties.

 

Section 1.8.           Immediately after the respective scheduled payments are made by Buyer to Seller under Section 1.3 above, Seller shall take all necessary actions to eliminate any outstanding registrations with respect to the perfection (if any) with respect to its security interests over the assets of Buyer corresponding to such payments.

 

Section 1.9.           The lease rents and other payment obligations related to the leases such as service fees payable by Buyer under the Facility Lease Agreement (Shiga) and the Facility Lease Agreement (Satte) to be entered between Buyer and Seller after the date hereof shall not become due for the period from March 26, 2018 through March 2019 (the “First-Year Rent”). Buyer will pay the First-Year Rent equally in monthly installments for the subsequent four fiscal years, starting in April 2019, together with the regular rents that become due on a monthly basis as scheduled under such lease agreements. Notwithstanding the previous sentence, before April of each year of the Facility Lease Agreement terms, the Parties shall discuss in good faith whether and to what extent Buyer is able to accelerate the repayment of the First-Year Rent without causing undue harm to its business operations and financial situation, and if the Parties conclude that Buyer is able to accelerate such repayment in light of those factors, Buyer will repay the

 

3

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

First-Year Rent at the accelerated schedule agreed by the Parties. Interest of 4% per year, calculated on a daily basis, will be assessed on each installment of the First -Year Rent from the date such installment should have been paid had Buyer not postponed payment thereof until the date of actual payment. Other than service fees agreed by Buyer and Seller under the Facility Lease Agreements, the rent amount under the Facility Lease Agreements will not be increased by services fees.

 

ARTICLE II
 REPRESENTATIONS AND WARRANTIES; COVENANTS SECTION

 

Section 2.1.           Buyer’s Representations and Warranties.

 

(a)           Organization and Authority. Buyer has full corporate power and authority to enter into this Agreement, to carry out its obligations hereunder, and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Buyer, and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms, except to the extent enforcement may be affected by laws relating to bankruptcy, reorganization, insolvency and creditors’ rights and by the availability of injunctive relief, specific performance and other equitable remedies.

 

(b)           No Conflicts; Consents. The execution, delivery and performance by Buyer of this Agreement and the consummation of the transactions contemplated hereby do not and will not: (i) conflict with or result in a violation or breach of, or default under, any provision of the articles of association or other organizational documents of Buyer or (ii) conflict with or result in a violation or breach of any provision of any applicable law or governmental order applicable to Buyer. No consent, approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Buyer in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

 

Section 2.2.           No Representations and Warranties. Other than as set forth in Section 2.1, neither Party gives any representations or warranties whatsoever under this Agreement and each Party hereby disclaims any and all representations or warranties. The Parties’ sole and exclusive representations or warranties with respect to the Transferred IP are contained in the Framework Agreement.

 

Section 2.3.           Non-Assertion. After the date hereof, Buyer shall not use the Transferred IP to assert any infringement, misappropriation other similar claim against Seller or VIA in respect of any activity whatsoever by Seller and VIA (the “Non-Assertion Undertaking”); provided, however, if Seller ceases to be a shareholder of Buyer upon VIA’s exercise of its right under Section 3.02(a) of the Shareholders’ Agreement dated March 23, 2018 between VIA and Seller (the “Shareholders’ Agreement”), the Non-Assertion Undertaking will no longer apply with respect to Seller. For the avoidance of doubt, this provision will not be construed as a release of the non-compete obligation from Seller and VIA set forth in Section 6.01(a) of the Shareholders’ Agreement.

 

4

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

Section 2.4.           Right of First Offer. If Buyer seeks to transfer any Transferred IP to a third Person, Buyer shall either (i) cause that third Person to agree to the non-assertion undertaking above or (ii) grant to Seller and VIA a right of first offer to purchase the Transferred IP pursuant to terms (including price) reasonably agreeable to Buyer, Seller, and VIA. If Seller or VIA fails to exercise its first refusal right above and does not purchase the Transferred IP within 60 days after the notice from Buyer for such possible sale, Buyer may transfer the Transferred IP to the contemplated third Person.

 

ARTICLE III
 MISCELLANEOUS

 

Section 3.1.           Expenses. Except as otherwise expressly provided herein, all costs and expenses, including, without limitation, fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby will be paid by the Party incurring such costs and expenses.

 

Section 3.2.           Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Party shall, at the request of the other Party, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be required to carry out the provisions hereof and give effect to the transactions contemplated hereby.

 

Section 3.3.           Confidentiality. Each Party agrees not to disclose the contents of this Agreement or the other Party’s Confidential Information without the other Party’s advance written consent. “Confidential Information” of a Party means all non-public or sensitive or proprietary information about that Party but does not include information (a) that has become publicly known through no breach by either Party of its confidentiality obligations hereunder, (b) that is independently and lawfully developed or obtained by a Party without access to the other Party’s Confidential Information, (c) is or becomes available to a Party on a non-confidential basis from a third Person, on condition that that third Person is not and was not prohibited from disclosing that information, or (d) that was known by or in the possession of a Party before the disclosure of that information to that Party pursuant to this Agreement, on condition that, in the case of each of (a) through (d), the Party seeking to disclose such information has the burden of demonstrating that it is not Confidential Information. A Party may disclose Confidential Information of the other. Party if required pursuant to applicable law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction, on condition that (i) the Party first make commercially reasonable efforts to provide the other Party (x) prompt written notice of such requirement so that the other Party may seek, at its sole cost and expense, a protective order or other remedy, and (y) reasonable assistance, at the other Party’s sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on disclosure, and (ii) disclose only the portion of the Confidential Information that it is legally required to disclose. Notwithstanding the foregoing, a Party may disclose Confidential Information to its Affiliates and their officers or employees, on a need-to-know basis (i.e., only to the extent reasonably necessary to facilitate the transactions contemplated under this Agreement and/or the Framework Agreement), on condition that the Party making the disclosure cause its Affiliates that have received any Confidential Information of the other Party to comply

 

5

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

with this provision and that the disclosing Party be responsible for any act by such Affiliates that would constitute a breach of this provision had the act been undertaken by the disclosing Party.

 

Section 3.4.           Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder must be in writing and will be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) on the date sent by e-mail of a PDF document, if sent during the recipient’s normal business hours, and on the next Business Day, if sent after the recipient’s normal business hours, on condition that the communication sent by e-mail is also sent by certified or registered mail, return receipt requested, postage prepaid; or (c) if sent internationally, on the fifth day, and if sent within Japan, on the second day, after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the Parties at the following addresses (or at such other address for a Party of which that Party notifies the other Party in accordance with this Section 3.4):

 

	
if to Buyer:
    	
VTS-Touchsensor   Products, Co., Ltd.
    
	
 
    	
1101-20, Myohoji-cho,   Higashiomi-city,
    
	
 
    	
Shiga, 527-0046, Japan
    
	
 
    	
Email:   JWoerle@via-optronics.com
    
	
 
    	
Attention:   Dr. Jasmin Wade
    
	
 
    	
 
    
	
with a copy to (which will not
    	
 
    
	
constitute notice):
    	
VIA optronics GmbH
    
	
 
    	
Sieboldstr. 18,   90411 Nurnberg
    
	
 
    	
Facsimile:
    
	
 
    	
E-mail: kbickelbacher@via-optronics.com
    
	
 
    	
Attention: Kathrin Bickelbacher
    
	
 
    	
 
    
	
 
    	
Jones Day
    
	
 
    	
Kamiyacho Prime Place
    
	
 
    	
1-17, Toranomon 4-chome
    
	
 
    	
Minato-ku, Tokyo   105-0001, JAPAN
    
	
 
    	
E-mail:   mushiiima@ionesday.com
    
	
 
    	
Attention: Makiko   Ushijima
    
	
 
    	
 
    
	
if to Seller:
    	
Toppan Printing   Co., Ltd.
    
	
 
    	
Toppan Shibaura Bldg.,   3-19-26 Shibaura,
    
	
 
    	
Minato-ku, Tokyo   108-8539
    
	
 
    	
Facsimile:
    
	
 
    	
E-mail:   teruo.ninomiya@toppan.co.jp,
    
	
 
    	
kentaro.kitaoka@toppan.co.jp
    
	
 
    	
Attention: Teruo   Ninomiya and Kentaro Kitaoka
    
	
 
    	
 
    
	
with a copy to (which will not
    	
 
    
	
constitute notice):
    	
southgate (registered   association)
    
	
 
    	
Pacific Square   Kudan-Minami, 7th Fl
    
	
 
    	
2-4-11 Kudan-Minami
    

 

6

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

	
 
    	
Chiyoda-ku, Tokyo   102-0074
    
	
 
    	
E-mail:   emarcks@southgate-law.com
    
	
 
    	
Attention: Eric Marcks
    

 

Section 3.5.           Headings. The headings in this Agreement are for reference only and do not affect its interpretation.

 

Section 3.6.           Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, that invalidity, illegality or unenforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable that term or provision in any other jurisdiction. Upon determination that any term or other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the Parties’ original intent as closely as possible in a mutually acceptable manner so that the transactions contemplated hereby may be consummated as originally contemplated to the greatest extent possible.

 

Section 3.7.           Entire Agreement. This Agreement and the Framework Agreement constitute the sole and entire agreement of the Parties with respect to the subject matter contained herein and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to this subject matter.

 

Section 3.8.           Successors and Assigns; Assignment. This Agreement is binding upon and will inure to the benefit of the parties and their respective successors and permitted assigns. Neither Party shall assign its rights or obligations hereunder without the advance written consent of the other Party, which consent must not be unreasonably withheld or delayed by either Party. No assignment will relieve the assigning Party of any of its obligations hereunder.

 

Section 3.9.           No Third-party Beneficiaries. This Agreement is for the sole benefit of the Parties (and their respective heirs, executors, administrators, successors and assigns) and nothing herein, express or implied, is intended to or will confer upon any other Person, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, with the exception of VIA, which is an intended third-party beneficiary under Section 2.3 and Section 2.4.

 

Section 3.10.        Amendment and Modification; Waiver. This Agreement may be amended, modified or supplemented only by an agreement in writing signed by each Party. No waiver by either Party of any of the provisions hereof will be effective unless explicitly set forth in writing and signed by that Party. No waiver by either Party will be, or will be construed as, a waiver in respect of any failure, breach or default not expressly identified by that written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement will be, or will be construed as, a waiver thereof; nor will any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

7

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

Section 3.11.        Governing Law; Dispute Resolution.

 

(a)           This Agreement is governed by and to be construed in accordance with the laws of Japan without giving effect to any choice or conflict of law provision or rule.

 

(b)           The Parties shall endeavor to resolve any dispute, controversy or difference arising out of, in connection with, or related to this Agreement (a “Dispute”) through good-faith negotiations. If a Dispute is not settled within 20 days after the receipt by a Party of a written request for negotiation under this Section 3.11(b), the Dispute will be referred for consideration by the Parties’ senior officers. The senior officers will have full authority to settle the Dispute.

 

(c)           If the senior officers are unable to resolve the Dispute within 20 days after the receipt by a Party of a written request for consideration of the Dispute by senior officers under Section 3.11(b), the Parties shall submit the Dispute to arbitration in Tokyo in accordance with the Commercial Arbitration Rules of the Japan Commercial Arbitration Association for final settlement. The Parties shall appoint three arbitrators in accordance with the rules and shall conduct the arbitration in English. The decision by the arbitration tribunal will be final and binding on the Parties and may be approved of or entered in (or otherwise be granted enforceability through necessary procedures by) any court having jurisdiction. The Parties consent to consolidation by the Japan Commercial Arbitration Association of arbitral proceedings initiated under this Agreement with arbitration proceedings initiated under the Framework Agreement.

 

Section 3.12.        Attorneys’ Fees. If any action at law or in equity is necessary to enforce or interpret the terms of the Agreement, the prevailing Party will be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which that Party may be entitled.

 

Section 3.13.        Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission will be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

8

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

IN WITNESS WHEREOF, the Parties execute this Transferred IP Purchase Agreement on the date stated in the introductory clause.

 

	
 
    	
Toppan Printing   Co., Ltd.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Teruo Ninomiya
    
	
 
    	
 
    	
Name:
    	
Teruo Ninomiya
    
	
 
    	
 
    	
Title:
    	
Senior General Manager
    
					

 

[Signature Page to Transferred IP Purchase Agreement]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

IN WITNESS WHEREOF, the Parties execute this Transferred IP Purchase Agreement on the date stated in the introductory clause.

 

	
 
    	
VTS-Touchsensor   Products, Co., Ltd.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Dr. Jasmin   Wörle
    
	
 
    	
 
    	
Name:
    	
Dr. Jasmin Wörle
    
	
 
    	
 
    	
Title:
    	
Representative Director
    
					

 

[Signature Page to Transferred IP Purchase Agreement]

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

 

EXHIBIT A
 TRANSFERRED IP

 

[***]

 

A-1

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