Document:

EX-10.29

 Exhibit 10.29 

Form with Non-Competition Provision Applicable to Officers 

ZILLOW, INC. 

Confidential Information, Inventions, 

Non-Solicitation, and Non-Competition Agreement 

This Confidential Information, Inventions, Non-Solicitation, and Non-Competition Agreement (the “Agreement”) is entered into and
between me and Zillow, Inc., a Washington corporation, for and on behalf of Zillow, Inc. and its parents, subsidiaries, affiliates, successors, and assigns (collectively, together with Zillow, Inc., the “Company”). In
consideration of my employment with the Company, the compensation paid to me, any stock or stock options which may be granted to me, and other good and valuable consideration, the receipt and sufficiency of which I hereby acknowledge, I agree to the
following terms: 
 Section 1. Definitions 

1.1 “Company” means Zillow, Inc. and its parents, subsidiaries, affiliates, successors, and assigns,
including, but not limited to, Zillow Group, Inc. and Trulia, Inc. 
 1.2 “Competing Business” means
any business whose efforts are in competition with the efforts of the Company, and/or any parent, subsidiary or affiliate of the Company. A Competing Business includes any business whose efforts involve any research and development, products or
services in competition with products or services which are, during the Relationship, either (a) produced, marketed or otherwise commercially exploited by the Company (including any parent, subsidiary, or affiliate) or (b) in actual or
demonstrably anticipated research or development by the Company (including any parent, subsidiary or affiliate). 
 1.3
“Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, business plans, product plans, products, services, customer
lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted during the term of my employment with the Company), market research, works of original authorship, intellectual property
(including, but not limited to, unpublished works and undisclosed patents), photographs, negatives, digital images, software, computer programs, ideas, developments, inventions (whether or not patentable), processes, formulas, technology, designs,
drawings, forecasts, strategies, marketing plans, legal affairs, finances, suppliers, clients, prospects, opportunities, contracts or assets of the Company, or other business information disclosed to me by the Company either directly or indirectly
in writing, orally or by drawings or observation or inspection of parts or equipment. Confidential Information does not include any of the foregoing items that has become publicly known and made 

  
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generally available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved. 

1.4 “Intellectual Property” means any patent, copyright, trade secret, trademark, trade name, service
mark, maskwork, original works of authorship, domain names, inventions, concepts, improvements, processes, methods, Invention, or other protected intellectual property right in any Confidential Information, whether or not patentable or registrable
under copyright or similar laws, that I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the service of the Company. 

1.5 “Invention” means any product, device, technique, know-how, computer program, algorithm, method,
process, procedure, improvement, discovery or invention, whether or not patentable or copyrightable and whether or not reduced to practice, that (a) is within the scope of the Company’s business, research or investigations or results from
or is suggested by any work performed by me for the Company and (b) is created, conceived, reduced to practice, developed, discovered, invented or made by me during the Relationship, whether solely or jointly with others, and whether or not
while engaged in performing work for the Company, except as otherwise provided herein. 
 1.6
“Material” means any product, prototype, model, document, diskette, tape, picture, design, recording, writing or other tangible item which contains or manifests, whether in printed, handwritten, coded, magnetic or
other form, any Confidential Information, Invention or Intellectual Property. 
 1.7 “Person” means
any individual, corporation, partnership, trust, association, governmental authority, educational institution, or other entity. 
 1.8
“Relationship” means the term of my employment with the Company, whether on a full-time, part-time, or consulting basis. 

Section 2. Ownership and Use 
 2.1
Ownership. The Company will be the exclusive owner of all Confidential Information, Inventions, Materials and Intellectual Property. To the extent applicable, all Materials will constitute “works for hire” under applicable copyright
laws. 
 2.2 Duty to the Company. I will promptly disclose to the Company all Confidential Information, Inventions, Materials or
Intellectual Property, as well as any business opportunity which comes to my attention during my Relationship with the Company and which relates to the business of the Company or which arises as a result of my employment with the Company. I will not
take advantage of or divert any such opportunity for the benefit of myself or anyone else either during or after my Relationship with the Company without the prior written consent of the Company. 

  
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 2.3 Assignment of Intellectual Property. I will promptly make full written disclosure to
the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title and interest in and to any Intellectual Property that I may solely or jointly conceive or develop
or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the service of the Company and that (i) are developed using the equipment, supplies, facilities or Confidential Information
of the Company, (ii) result from or are suggested by work performed by me for the Company, or (iii) relate to the Company business or to the actual or demonstrably anticipated research or development of the Company. The Intellectual
Property will be the sole and exclusive property of the Company. I further acknowledge that all original works of authorship that are made by me (solely or jointly with others) within the scope of and during the period of my Relationship with the
Company and that are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act. To the extent that any Intellectual Property is not deemed to be work made for hire, then I will and
hereby do assign all my right, title and interest in such Intellectual Property to the Company, except as provided in Section 2.8. 

2.4 Patent and Copyright Registrations. I agree to assist the Company, or its designee, at the Company’s expense, in every proper
way to secure the Company’s rights in the Intellectual Property and any copyrights, patents, trademarks, domain names or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of
all pertinent information and data with respect thereto and the execution of all applications, specifications, oaths, assignments and other instruments that the Company shall deem necessary in order to apply for and obtain such rights and in order
to assign and convey to the Company and its successors, assigns and nominees the sole and exclusive right, title and interest in and to such Intellectual Property and any copyrights, patents, trademarks, domain names or other intellectual property
rights relating thereto. I further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of my Relationship with the Company. If the Company
is unable because of my mental or physical incapacity or for any other reason to secure my assistance in perfecting the rights transferred in this Agreement, then I hereby irrevocably designate and appoint the Company and its duly authorized
officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent and
copyright, trademark or domain name registrations thereon with the same legal force and effect as if executed by me. The designation and appointment of the Company and its duly authorized officers and agents as my agent and attorney in fact shall be
deemed to be coupled with an interest and therefore irrevocable. 
 2.5 Maintenance of Records. I agree to keep and maintain adequate
and current written records of all inventions and Intellectual Property during the Relationship. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available
to and remain the sole property of 

  
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the Company at all times. I will not contest the validity of any Intellectual Property, or aid or encourage any third party to contest the validity of any Intellectual Property of the Company.

 2.6 Non-Disclosure or Use. Except as required for performance of my work for the Company or as authorized in writing by the
Company, I will not (a) use, disclose, publish or distribute any Confidential Information, Inventions, Materials or Intellectual Property or (b) remove any Materials from the Company’s premises. 

2.7 Intellectual Property Retained and Licensed. I will identify on Exhibit A all original works of authorship, inventions,
developments, improvements, trademarks, designs, domain names, processes, methods and trade secrets that were made by me prior to my Relationship with the Company (collectively referred to as “Prior Intellectual Property”), that
belong to me, that relate to the Company’s proposed business, products or research and development, and that are not assigned to the Company hereunder; or, if no such list is attached, I represent that there is no such Prior Intellectual
Property. If in the course of my Relationship with the Company, I incorporate into Company property any Prior Intellectual Property owned by me or in which I have an interest, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Intellectual Property as part of or in connection with such Company property. 

2.8 Exception to Assignments. I understand that the provisions of this Agreement requiring assignment of Intellectual Property to the
Company do not apply to any intellectual property that (i) I develop entirely on my own time; and (ii) I develop without using Company equipment, supplies, facilities or trade secret information; and (iii) does not result from any
work performed by me for the Company; and (iv) does not relate at the time of conception or reduction to practice to the Company’s current or anticipated business, or to its actual or demonstrably anticipated research or development. Any
such intellectual property will be owned entirely by me, even if developed by me during the time period in which I am in the service of the Company. This satisfies the written notice and other requirements of RCW 49.44.140. I will advise the
Company promptly in writing of any intellectual property that I believe meets the criteria for exclusion set forth herein and is not otherwise disclosed pursuant to Section 2.7 above. 

Section 3. Further Obligations 

3.1 My execution, delivery and performance of this Agreement and the performance of my other obligations and duties to the Company will
not cause any breach, default or violation of any other employment, nondisclosure, confidentiality, consulting or other agreement to which I am a party or by which I may be bound. Attached as Exhibit B is a list of all prior agreements now in
effect under which I have agreed to keep information confidential or not to compete or solicit employees of any Person. 
 3.2 I will
not use in performance of my work for the Company or disclose to the Company any trade secret, confidential or proprietary information of any prior employer or other Person if and to the extent that such use or disclosure may cause a breach, default
or 

  
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violation of any obligation or duty that I owe to such other Person (e.g., under any agreement or applicable law). My compliance with this paragraph will not prohibit, restrict or impair the
performance of my work, obligations and duties to the Company. 
 3.3 I recognize that the Company has received and in the future
will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree to hold all such
confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s agreement with
such third party. 
 Section 4. Restrictive Covenants 

4.1 Employee Non-Solicitation. In consideration for my employment with the Company and other valuable consideration, I agree that during
the period of my Relationship with the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, solicit the employment of any person who shall then be employed by the Company (as an employee or consultant)
or who shall have been employed by the Company (as an employee or consultant) within the prior twelve (12) month period, on behalf of myself or any other person, firm, corporation, association or other entity. 

4.2 Customer Non-Solicitation. In consideration for my employment with the Company and other valuable consideration, I agree that,
during the period of my Relationship with the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, attempt to solicit for, divert to, appropriate to, or accept on behalf of, any Competing Business, any
business from any customer or actively sought prospective customer of the Company with whom I have dealt or whose dealings with the Company have been supervised by me during my Relationship with the Company or about whom I have acquired Confidential
Information as a result of my Relationship. 
 4.3 Non-Competition. In consideration for my employment with the Company and other
valuable consideration, I agree that, during the period of my Relationship with the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, engage in, be employed by, perform services for, participate in
the ownership, management, control or operation of, or otherwise be connected with, any Competing Business, in a capacity that is the same as or similar to the capacity in which I performed services for the Company. For purposes of this paragraph, I
will not be considered to be connected with any Competing Business solely on account of: my ownership of less than five percent of the outstanding capital stock or other equity interests in any Person carrying on the Competing Business. The Company,
in its sole discretion, may determine to waive the noncompetition provisions of this Section 4.3. Any such waiver shall not constitute a waiver of any noncompetition or forfeiture provisions of any other agreement between the Company and me.

  
 CONFIDENTIAL
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 4.4 Direct or Indirect Violations. I acknowledge and agree that I will be in violation of
Sections 4.1 and 4.2 if I engage in any or all of the activities set forth in those Sections directly as an individual on my own account, or indirectly for, through, or with assistance from, any other person or entity, whether as partner, joint
venturer, employee, agent, salesperson, employee, officer, manager and/or director of any person or entity, or as an equity holder of any person or entity in which I or my spouse, child, or parent owns, directly or indirectly, any of the outstanding
equity interests. 
 4.5 Reasonableness of Restrictions. I acknowledge and agree that, given the electronic and global nature of the
environment in which the Company conducts business, a lack of geographic limitation to the above restrictions is reasonable to protect the Company’s interests. I further acknowledge and agree that the length of the time periods applicable to
the restrictive covenants are appropriate and reasonable, in view of the nature of the Company’s business and my employment with the Company and knowledge of its business. I acknowledge that I have carefully considered the terms of this
Agreement, including the restrictive covenants contained herein, and acknowledge that if this Agreement is enforced according to its terms, I will be able to earn a reasonable living in commercial activities in locations satisfactory to me. I also
acknowledge that the restrictive covenants set forth herein are a vital part of and intrinsic to the ongoing operations of the Company, in light of the nature of the business and my unique position, skills, and knowledge with and of the Company 

4.6 Tolling of Covenants. I acknowledge and agree that that if it is judicially determined that I have violated any of my obligations
under Sections 4.1 and 4.2, then the period applicable to each obligation that I have been determined to have violated shall automatically toll from the date of the first breach, and all subsequent breaches, until the resolution of the breach
through private settlement, judicial or other action, including all appeals. 
 Section 5. Termination of Relationship 

5.1 I agree that, at the time of leaving the service of the Company, I will deliver to the Company (and will not keep in my possession,
recreate or deliver to anyone else) any and all works of original authorship, domain names, original registration certificates, photographs, negatives, digital images, devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, materials, equipment or other documents or property, or reproductions of any aforementioned items, and any and all Confidential Information, developed by me pursuant to my Relationship with the Company
or otherwise belonging to the Company or its successors or assigns. I agree to sign and deliver the “Termination Certification” attached as Exhibit C. 

5.2 At the end of my Relationship with the Company, I agree to provide the name of my new employer, if any, and consent to notification
by the Company to my new employer about my rights and obligations under this Agreement in the form of Exhibit D. 

  
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 Section 6. Employment At Will 

I agree that my employment is “at will” which means that it can be terminated at any time by the Company or by me, with or without
cause and with or without notice. I agree that any promise or obligation that my employment be on any other basis than “at will” is invalid unless in writing signed by the Chief Executive Officer of the Company. I agree to abide by the
Company’s rules, regulations, policies and practices as revised from time to time. 
 Section 7. Miscellaneous 

7.1 Survival; Subsidiaries and Affiliates. I agree that my obligations under this Agreement will survive the end of my Relationship with
the Company. I understand and agree that this Agreement is executed by Zillow, Inc. on its own behalf and on behalf of each of its parents, subsidiaries, affiliates, successors, or assignees, that my obligations under this Agreement shall apply
equally to each of Zillow, Inc.’s parent companies, subsidiaries, affiliates, successors, or assignees, and that such entities may enforce this Agreement in their own name as if they were parties to this Agreement. 

7.2 Assignability. I understand and agree that this Agreement will be binding upon my heirs, executors, assigns, administrators,
agents, and other legal representatives, and will be for the benefit of the Company, its successors, and its assigns. Without limiting the foregoing, the Company may assign this Agreement and its rights and obligations under this Agreement to any
successor to any of the Company’s relevant assets, whether by merger, consolidation, reorganization, reincorporation, sale of assets or stock, or otherwise. 

7.3 Injunctive Relief; Costs. I acknowledge that my obligations under this Agreement are important to the Company, and that the Company
would not employ or continue to employ me without my agreement to such obligations. I also acknowledge that if I do not abide by my obligations in this Agreement, the Company will suffer immediate and irreparable harm, and that the damage to the
Company will be difficult to measure and financial relief will be incomplete. Accordingly, the Company will be entitled to injunctive relief and other equitable remedies in the event of a breach by me of any obligation under this Agreement.
Furthermore, no bond need be posted in conjunction with the application for, or issuance of, an injunction (which requirement I hereby specifically and expressly waive). The rights and remedies of the Company under this section are in addition to
all other remedies. Further, in any legal action or other proceeding in connection with this Agreement (e.g., to recover damages or other relief), the prevailing party will be entitled to recover its reasonable attorneys’ fees and other
costs incurred. 
 7.4 Severability and Modification. This Agreement will be enforced to the fullest extent permitted by applicable
law. If for any reason any provision of this Agreement is held to be invalid or unenforceable to any extent (including with respect to scope, duration, territory, or terms of restrictive covenants), then I agree that (a) the court making such
determination shall have the power to reduce or modify the scope, duration, territory, and/or terms of such provision, and to delete specific words or phrases in such provision, so that the provision is enforceable by the court, and such provision
as amended shall be enforced by the 

  
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court; (b) such invalidity or unenforceability will not affect any other provision of this Agreement or any other agreement between the Company and me; and (c) that I will abide by the
Agreement as modified by the Court. 
 7.5 Governing Law. I acknowledge and agree that the Company has an interest in administering
its agreements, plans, and programs under uniform law, and that it is fair to have all Company employees be subject to uniform laws in connection with agreements like this one. Therefore I agree that all disputes arising under or related to this
Agreement or to my employment or relationship or dealings with the Company shall be governed by the laws of the State of Washington and construed in accordance therewith without giving effect to principles of conflicts of laws. I hereby irrevocably
waive my rights, if any, to have the laws of any other state other than the State of Washington apply to this Agreement or my employment with the Company. 

7.6 Venue, Personal Jurisdiction, and Covenant Not to Sue. I expressly agree to submit to the exclusive jurisdiction and exclusive
venue of courts located in the State of Washington, King County, in connection with any litigation which may be brought with respect to a dispute between the Company and me, regardless of where I reside or where I perform services for the Company. I
hereby irrevocably waive my rights, if any, to have any disputes between the Company and me decided in any jurisdiction or venue other than a court located in King County, Washington. I hereby waive, to the fullest extent permitted by applicable
law, any objection which I now or hereafter may have to personal jurisdiction or to the laying of venue of any such suit, action or proceeding, and I agree not to plead or claim the same. I further irrevocably covenant not to sue the Company in any
jurisdiction or venue other than a court located in King County, Washington. 
 7.7 Entire Agreement. This Agreement sets forth the
entire agreement and understanding between the Company and me relating to the subject matter herein and merges all prior discussions between us. No modification of or amendment to this Agreement, or any waiver of any rights under this Agreement,
will be effective unless in writing signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. Neither this Agreement nor any provision may be
amended except by written agreement signed by the parties. 
 7.8 Waivers. No waiver of any breach shall be considered valid unless
in writing, and no waiver shall be a waiver of any subsequent breach. 
 7.9 Acknowledgment. I have carefully read all of the
provisions of this Agreement and agree that (a) the same are necessary for the reasonable and proper protection of the Company’s business, (b) the Company has been induced to enter into and/or continue its relationship with me in
reliance upon my compliance with the provisions of this Agreement, (c) every provision of this Agreement is reasonable with respect to its scope and duration, (d) I have executed this Agreement without duress or coercion from any source,
and (e) I have received a copy of this Agreement. 

  
 CONFIDENTIAL
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	 This Agreement shall be effective as of ______________________.

	 (Date)

			
					  

					Signature		
					  

					FULL NAME (print or type)

  

			
	ACCEPTED:
	
	ZILLOW, INC.
	By		  

	Its Chief Operating Officer

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 EXHIBIT A 

LIST OF PRIOR INVENTIONS AND 

ORIGINAL WORKS OF AUTHORSHIP 
  

					
	 Title
	 	 Date
	 	 Identifying Number

or Brief Description

  

	            	No inventions or improvements 

  

	            	Additional Sheets Attached 

 Signature of Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                    

  
 CONFIDENTIAL
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 EXHIBIT B 

The following is a list of all prior agreements with former employers or others to which I am a party in which I agreed to maintain the
confidentiality of the information of, or not to compete with or solicit the employees or customers of a third party. 
  

	            	No Agreements 

  

	            	See below 

  

	            	Additional sheets attached 

 Signature of Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                    

  
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 EXHIBIT C 

TERMINATION CERTIFICATION 

This is to certify that I do not have in my possession, and I have not failed to return, any Materials or other property belonging to Zillow,
Inc., its subsidiaries, affiliates, successors or assigns (together, the “Company”). 
 I further certify that I have complied
with all the terms of the Company’s Confidential Information, Inventions, Non-Solicitation, and Non-Competition Agreement signed by me, including the reporting of any Inventions conceived or made by me (solely or jointly with others) covered by
that Agreement. 
 I further agree that, in compliance with the Agreement, I will not use, disclose, publish or distribute any Confidential
Information, Inventions, Materials or Intellectual Property. 
 During my Relationship with the Company and for one year after the end of my
Relationship with the Company, I will not induce, or attempt to induce, any employee or independent contractor of the Company to cease such employment or relationship to engage in, be employed by, perform services for, participate in the ownership,
management, control or operation of, or otherwise be connected with, either directly or indirectly, any business other than the Company. 
 Signature of
Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                                         
                                         
                           

  
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 EXHIBIT D 

NOTIFICATION TO NEW EMPLOYERS 
 Dear
[name of new employer’s president]: 
 We understand that our former employee, [name of employee], has
accepted employment with your company. This letter is to advise you that [name of employee] signed a Confidential Information, Inventions, Non-Solicitation, and Non-Competition Agreement with Zillow, Inc. that remains in full force and
effect. At the time [name of employee] left our company, we advised [him/her] of [his/her] continuing obligations under the Agreement and [name of employee] signed a Termination Certificate
affirming [his/her] obligations under the Agreement. A copy of the Termination Certificate, dated                     , 20__, is
enclosed so that any conflict with these obligations can be avoided during [his/her] employment with you. 
  

	
	Very truly yours,
	
	[Signature of Company president or corporate counsel]
	
	  
 [Typed
name]

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 Form without Non-Competition Provision Applicable to Officers 

ZILLOW, INC. 

Confidential Information, Inventions, and 

Non-Solicitation Agreement 

This Confidential Information, Inventions, and Non-Solicitation Agreement (the “Agreement”) is entered into and between me and
Zillow, Inc., a Washington corporation, for and on behalf of Zillow, Inc. and its parents, subsidiaries, affiliates, successors, and assigns (collectively, together with Zillow, Inc., the “Company”). In consideration of my
employment with the Company, the compensation paid to me, any stock or stock options which may be granted to me, and other good and valuable consideration, the receipt and sufficiency of which I hereby acknowledge, I agree to the following terms:

 Section 1. Definitions 
 1.1
“Company” means Zillow, Inc. and its parents, subsidiaries, affiliates, successors, and assigns, including, but not limited to, Zillow Group, Inc. and Trulia, Inc. 

1.2 “Confidential Information” means any Company proprietary information, technical data, trade secrets
or know-how, including, but not limited to, research, business plans, product plans, products, services, customer lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted during
the term of my employment with the Company), market research, works of original authorship, intellectual property (including, but not limited to, unpublished works and undisclosed patents), photographs, negatives, digital images, software, computer
programs, ideas, developments, inventions (whether or not patentable), processes, formulas, technology, designs, drawings, forecasts, strategies, marketing plans, legal affairs, finances, suppliers, clients, prospects, opportunities, contracts or
assets of the Company, or other business information disclosed to me by the Company either directly or indirectly in writing, orally or by drawings or observation or inspection of parts or equipment. Confidential Information does not include any of
the foregoing items that has become publicly known and made generally available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved. 

1.3 “Intellectual Property” means any patent, copyright, trade secret, trademark, trade name, service
mark, maskwork, original works of authorship, domain names, inventions, concepts, improvements, processes, methods, Invention, or other protected intellectual property right in any Confidential Information, whether or not patentable or registrable
under copyright or similar laws, that I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the service of the Company. 

1.4 “Invention” means any product, device, technique, know-how, computer program, algorithm, method,
process, procedure, improvement, discovery or invention, 

  
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whether or not patentable or copyrightable and whether or not reduced to practice, that (a) is within the scope of the Company’s business, research or investigations or results from or
is suggested by any work performed by me for the Company and (b) is created, conceived, reduced to practice, developed, discovered, invented or made by me during the Relationship, whether solely or jointly with others, and whether or not while
engaged in performing work for the Company, except as otherwise provided herein. 
 1.5 “Material”
means any product, prototype, model, document, diskette, tape, picture, design, recording, writing or other tangible item which contains or manifests, whether in printed, handwritten, coded, magnetic or other form, any Confidential Information,
Invention or Intellectual Property. 
 1.6 “Person” means any individual, corporation, partnership,
trust, association, governmental authority, educational institution, or other entity. 
 1.7
“Relationship” means the term of my employment with the Company, whether on a full-time, part-time, or consulting basis. 

Section 2. Ownership and Use 
 2.1
Ownership. The Company will be the exclusive owner of all Confidential Information, Inventions, Materials and Intellectual Property. To the extent applicable, all Materials will constitute “works for hire” under applicable copyright
laws. 
 2.2 Duty to the Company. I will promptly disclose to the Company all Confidential Information, Inventions, Materials or
Intellectual Property, as well as any business opportunity which comes to my attention during my Relationship with the Company and which relates to the business of the Company or which arises as a result of my employment with the Company. I will not
take advantage of or divert any such opportunity for the benefit of myself or anyone else either during or after my Relationship with the Company without the prior written consent of the Company. 

2.3 Assignment of Intellectual Property. I will promptly make full written disclosure to the Company, will hold in trust for the sole
right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title and interest in and to any Intellectual Property that I may solely or jointly conceive or develop or reduce to practice, or cause to be
conceived or developed or reduced to practice, during the period of time I am in the service of the Company and that (i) are developed using the equipment, supplies, facilities or Confidential Information of the Company, (ii) result from
or are suggested by work performed by me for the Company, or (iii) relate to the Company business or to the actual or demonstrably anticipated research or development of the Company. The Intellectual Property will be the sole and exclusive
property of the Company. I further acknowledge that all original works of authorship that are made by me (solely or jointly with others) within the scope of and during the period of my Relationship with the Company and that are protectable by
copyright are “works made for hire,” as that term is defined in the United States Copyright Act. To the extent that any Intellectual Property is not deemed to be 

  
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 NON-SOLICITATION AGREEMENT 

 
work made for hire, then I will and hereby do assign all my right, title and interest in such Intellectual Property to the Company, except as provided in Section 2.8. 

2.4 Patent and Copyright Registrations. I agree to assist the Company, or its designee, at the Company’s expense, in every proper
way to secure the Company’s rights in the Intellectual Property and any copyrights, patents, trademarks, domain names or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of
all pertinent information and data with respect thereto and the execution of all applications, specifications, oaths, assignments and other instruments that the Company shall deem necessary in order to apply for and obtain such rights and in order
to assign and convey to the Company and its successors, assigns and nominees the sole and exclusive right, title and interest in and to such Intellectual Property and any copyrights, patents, trademarks, domain names or other intellectual property
rights relating thereto. I further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of my Relationship with the Company. If the Company
is unable because of my mental or physical incapacity or for any other reason to secure my assistance in perfecting the rights transferred in this Agreement, then I hereby irrevocably designate and appoint the Company and its duly authorized
officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent and
copyright, trademark or domain name registrations thereon with the same legal force and effect as if executed by me. The designation and appointment of the Company and its duly authorized officers and agents as my agent and attorney in fact shall be
deemed to be coupled with an interest and therefore irrevocable. 
 2.5 Maintenance of Records. I agree to keep and maintain adequate
and current written records of all inventions and Intellectual Property during the Relationship. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available
to and remain the sole property of the Company at all times. I will not contest the validity of any Intellectual Property, or aid or encourage any third party to contest the validity of any Intellectual Property of the Company. 

2.6 Non-Disclosure or Use. Except as required for performance of my work for the Company or as authorized in writing by the Company, I
will not (a) use, disclose, publish or distribute any Confidential Information, Inventions, Materials or Intellectual Property or (b) remove any Materials from the Company’s premises. 

2.7 Intellectual Property Retained and Licensed. I will identify on Exhibit A all original works of authorship, inventions,
developments, improvements, trademarks, designs, domain names, processes, methods and trade secrets that were made by me prior to my Relationship with the Company (collectively referred to as “Prior Intellectual Property”), that
belong to me, that relate to the Company’s proposed business, products or research and development, and that are not assigned to the Company hereunder; or, if no such list is attached, I represent that there is no such Prior Intellectual
Property. If in the course of my 

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 
Relationship with the Company, I incorporate into Company property any Prior Intellectual Property owned by me or in which I have an interest, the Company is hereby granted and shall have a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Intellectual Property as part of or in connection with such Company property. 

2.8 Exception to Assignments. I understand that the provisions of this Agreement requiring assignment of Intellectual Property to the
Company do not apply to any intellectual property that (i) I develop entirely on my own time; and (ii) I develop without using Company equipment, supplies, facilities or trade secret information; and (iii) does not result from any
work performed by me for the Company; and (iv) does not relate at the time of conception or reduction to practice to the Company’s current or anticipated business, or to its actual or demonstrably anticipated research or development. Any
such intellectual property will be owned entirely by me, even if developed by me during the time period in which I am in the service of the Company. This satisfies the written notice and other requirements of RCW 49.44.140 and Section 2870
of the California Labor Code. I will advise the Company promptly in writing of any intellectual property that I believe meets the criteria for exclusion set forth herein and is not otherwise disclosed pursuant to Section 2.7 above. 

Section 3. Further Obligations 

3.1 My execution, delivery and performance of this Agreement and the performance of my other obligations and duties to the Company will
not cause any breach, default or violation of any other employment, nondisclosure, confidentiality, consulting or other agreement to which I am a party or by which I may be bound. Attached as Exhibit B is a list of all prior agreements now in
effect under which I have agreed to keep information confidential or not to compete or solicit employees of any Person. 
 3.2 I will
not use in performance of my work for the Company or disclose to the Company any trade secret, confidential or proprietary information of any prior employer or other Person if and to the extent that such use or disclosure may cause a breach, default
or violation of any obligation or duty that I owe to such other Person (e.g., under any agreement or applicable law). My compliance with this paragraph will not prohibit, restrict or impair the performance of my work, obligations and duties to the
Company. 
 3.3 I recognize that the Company has received and in the future will receive from third parties their confidential or
proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree to hold all such confidential or proprietary information in the
strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s agreement with such third party. 

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 Section 4. Restrictive Covenants 

4.1 Employee Non-Solicitation. In consideration for my employment with the Company and other valuable consideration, I agree that during
the period of my Relationship with the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, solicit the employment of any person who shall then be employed by the Company (as an employee or consultant)
or who shall have been employed by the Company (as an employee or consultant) within the prior twelve (12) month period, on behalf of myself or any other person, firm, corporation, association or other entity. 

4.2 Customer Non-Solicitation. In consideration for my employment with the Company and other valuable consideration, I agree that,
during the period of my Relationship with the Company and for a period of twelve (12) months thereafter, I will not, directly or indirectly, use Confidential Information to attempt to solicit for, divert to, appropriate to, or accept on behalf
of, any Person other than the Company, any business from any customer or actively sought prospective customer of the Company with whom I have dealt or whose dealings with the Company have been supervised by me during my Relationship with the
Company. 
 4.3 Direct or Indirect Violations. I acknowledge and agree that I will be in violation of Sections 4.1 and 4.2 if I
engage in any or all of the activities set forth in those Sections directly as an individual on my own account, or indirectly for, through, or with assistance from, any other person or entity, whether as partner, joint venturer, employee, agent,
salesperson, employee, officer, manager and/or director of any person or entity, or as an equity holder of any person or entity in which I or my spouse, child, or parent owns, directly or indirectly, any of the outstanding equity interests. 

4.4 Reasonableness of Restrictions. I acknowledge and agree that, given the electronic and global nature of the environment in which
the Company conducts business, a lack of geographic limitation to the above restrictions is reasonable to protect the Company’s interests. I further acknowledge and agree that the length of the time periods applicable to the restrictive
covenants are appropriate and reasonable, in view of the nature of the Company’s business and my employment with the Company and knowledge of its business. I acknowledge that I have carefully considered the terms of this Agreement, including
the restrictive covenants contained herein, and acknowledge that if this Agreement is enforced according to its terms, I will be able to earn a reasonable living in commercial activities in locations satisfactory to me. I also acknowledge that the
restrictive covenants set forth herein are a vital part of and intrinsic to the ongoing operations of the Company, in light of the nature of the business and my unique position, skills, and knowledge with and of the Company 

4.5 Tolling of Covenants. I acknowledge and agree that that if it is judicially determined that I have violated any of my obligations
under Sections 4.1 and 4.2, then the period applicable to each obligation that I have been determined to have violated shall automatically toll from the date of the first breach, and all subsequent breaches, until the resolution of the breach
through private settlement, judicial or other action, including all appeals. 

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 Section 5. Termination of Relationship 

5.1 I agree that, at the time of leaving the service of the Company, I will deliver to the Company (and will not keep in my possession,
recreate or deliver to anyone else) any and all works of original authorship, domain names, original registration certificates, photographs, negatives, digital images, devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, materials, equipment or other documents or property, or reproductions of any aforementioned items, and any and all Confidential Information, developed by me pursuant to my Relationship with the Company
or otherwise belonging to the Company or its successors or assigns. I agree to sign and deliver the “Termination Certification” attached as Exhibit C. 

5.2 At the end of my Relationship with the Company, I agree to provide the name of my new employer, if any, and consent to notification
by the Company to my new employer about my rights and obligations under this Agreement in the form of Exhibit D. 
 Section 6. Employment At
Will 
 I agree that my employment is “at will” which means that it can be terminated at any time by the Company or by me, with
or without cause and with or without notice. I agree that any promise or obligation that my employment be on any other basis than “at will” is invalid unless in writing signed by the Chief Executive Officer of the Company. I agree to abide
by the Company’s rules, regulations, policies and practices as revised from time to time. 
 Section 7. Miscellaneous 

7.1 Survival; Subsidiaries and Affiliates. I agree that my obligations under this Agreement will survive the end of my Relationship with
the Company. I understand and agree that this Agreement is executed by Zillow, Inc. on its own behalf and on behalf of each of its parents, subsidiaries, affiliates, successors, or assignees, that my obligations under this Agreement shall apply
equally to each of Zillow, Inc.’s parent companies, subsidiaries, affiliates, successors, or assignees, and that such entities may enforce this Agreement in their own name as if they were parties to this Agreement. 

7.2 Assignability. I understand and agree that this Agreement will be binding upon my heirs, executors, assigns, administrators,
agents, and other legal representatives, and will be for the benefit of the Company, its successors, and its assigns. Without limiting the foregoing, the Company may assign this Agreement and its rights and obligations under this Agreement to any
successor to any of the Company’s relevant assets, whether by merger, consolidation, reorganization, reincorporation, sale of assets or stock, or otherwise. 

7.3 Injunctive Relief; Costs. I acknowledge that my obligations under this Agreement are important to the Company, and that the Company
would not employ or 

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 
continue to employ me without my agreement to such obligations. I also acknowledge that if I do not abide by my obligations in this Agreement, the Company will suffer immediate and irreparable
harm, and that the damage to the Company will be difficult to measure and financial relief will be incomplete. Accordingly, the Company will be entitled to injunctive relief and other equitable remedies in the event of a breach by me of any
obligation under this Agreement. Furthermore, no bond need be posted in conjunction with the application for, or issuance of, an injunction (which requirement I hereby specifically and expressly waive). The rights and remedies of the Company under
this section are in addition to all other remedies. Further, in any legal action or other proceeding in connection with this Agreement (e.g., to recover damages or other relief), the prevailing party will be entitled to recover its reasonable
attorneys’ fees and other costs incurred. 
 7.4 Severability and Modification. This Agreement will be enforced to the fullest
extent permitted by applicable law. If for any reason any provision of this Agreement is held to be invalid or unenforceable to any extent (including with respect to scope, duration, territory, or terms of restrictive covenants), then I agree that
(a) the court making such determination shall have the power to reduce or modify the scope, duration, territory, and/or terms of such provision, and to delete specific words or phrases in such provision, so that the provision is enforceable by
the court, and such provision as amended shall be enforced by the court; (b) such invalidity or unenforceability will not affect any other provision of this Agreement or any other agreement between the Company and me; and (c) that I will
abide by the Agreement as modified by the Court. 
 7.5 Governing Law. I acknowledge and agree that the Company has an interest in
administering its agreements, plans, and programs under uniform law, and that it is fair to have all Company employees be subject to uniform laws in connection with agreements like this one. Therefore I agree that all disputes arising under or
related to this Agreement or to my employment or relationship or dealings with the Company shall be governed by the laws of the State of Washington and construed in accordance therewith without giving effect to principles of conflicts of laws. I
hereby irrevocably waive my rights, if any, to have the laws of any other state other than the State of Washington apply to this Agreement or my employment with the Company. 

7.6 Venue, Personal Jurisdiction, and Covenant Not to Sue. I expressly agree to submit to the exclusive jurisdiction and exclusive
venue of courts located in the State of Washington, King County, in connection with any litigation which may be brought with respect to a dispute between the Company and me, regardless of where I reside or where I perform services for the Company. I
hereby irrevocably waive my rights, if any, to have any disputes between the Company and me decided in any jurisdiction or venue other than a court located in King County, Washington. I hereby waive, to the fullest extent permitted by applicable
law, any objection which I now or hereafter may have to personal jurisdiction or to the laying of venue of any such suit, action or proceeding, and I agree not to plead or claim the same. I further irrevocably covenant not to sue the Company in any
jurisdiction or venue other than a court located in King County, Washington. 

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 7.7 Entire Agreement. This Agreement sets forth the entire agreement and understanding
between the Company and me relating to the subject matter herein and merges all prior discussions between us. No modification of or amendment to this Agreement, or any waiver of any rights under this Agreement, will be effective unless in writing
signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. Neither this Agreement nor any provision may be amended except by written agreement
signed by the parties. 
 7.8 Waivers. No waiver of any breach shall be considered valid unless in writing, and no waiver shall be a
waiver of any subsequent breach. 
 7.9 Acknowledgment. I have carefully read all of the provisions of this Agreement and agree that
(a) the same are necessary for the reasonable and proper protection of the Company’s business, (b) the Company has been induced to enter into and/or continue its relationship with me in reliance upon my compliance with the provisions
of this Agreement, (c) every provision of this Agreement is reasonable with respect to its scope and duration, (d) I have executed this Agreement without duress or coercion from any source, and (e) I have received a copy of this
Agreement. 
  

							
	 This Agreement shall be effective as of ______________________.

	 (Date)

			
					  

					Signature		
					  

					FULL NAME (print or type)

  

			
	ACCEPTED:
	
	ZILLOW, INC.
		
	By		  

	Its Chief Operating Officer

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 EXHIBIT A 

LIST OF PRIOR INVENTIONS AND 

ORIGINAL WORKS OF AUTHORSHIP 
  

					
	 Title
	 	 Date
	 	 Identifying Number

or Brief Description

  

	            	No inventions or improvements 

  

	            	Additional Sheets Attached 

 Signature of Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                    

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 EXHIBIT B 

The following is a list of all prior agreements with former employers or others to which I am a party in which I agreed to maintain the
confidentiality of the information of, or not to compete with or solicit the employees or customers of a third party. 
  

	            	No Agreements 

  

	            	See below 

  

	            	Additional sheets attached 

 Signature of Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                    

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 EXHIBIT C 

TERMINATION CERTIFICATION 

This is to certify that I do not have in my possession, and I have not failed to return, any Materials or other property belonging to Zillow,
Inc., its subsidiaries, affiliates, successors or assigns (together, the “Company”). 
 I further certify that I have complied
with all the terms of the Company’s Confidential Information, Inventions, and Non-Solicitation Agreement signed by me, including the reporting of any Inventions conceived or made by me (solely or jointly with others) covered by that Agreement.

 I further agree that, in compliance with the Agreement, I will not use, disclose, publish or distribute any Confidential Information,
Inventions, Materials or Intellectual Property. 
 During my Relationship with the Company and for one year after the end of my Relationship
with the Company, I will not induce, or attempt to induce, any employee or independent contractor of the Company to cease such employment or relationship to engage in, be employed by, perform services for, participate in the ownership, management,
control or operation of, or otherwise be connected with, either directly or indirectly, any business other than the Company. 
 Signature of Employee:
                                         
                                         
                                       

Print Name of Employee:
                                         
                                         
                                    

Date:
                                         
                                         
                                         
                           

  
 CONFIDENTIAL
INFORMATION, INVENTIONS AND 
 NON-SOLICITATION AGREEMENT 

 EXHIBIT D 

NOTIFICATION TO NEW EMPLOYERS 
 Dear
[name of new employer’s president]: 
 We understand that our former employee, [name of employee], has
accepted employment with your company. This letter is to advise you that [name of employee] signed a Confidential Information, Inventions, and Non-Solicitation Agreement with Zillow, Inc. that remains in full force and effect. At the
time [name of employee] left our company, we advised [him/her] of [his/her] continuing obligations under the Agreement and [name of employee] signed a Termination Certificate affirming
[his/her] obligations under the Agreement. A copy of the Termination Certificate, dated                     , 20__, is enclosed
so that any conflict with these obligations can be avoided during [his/her] employment with you. 
  

	
	Very truly yours,
	
	[Signature of Company president or corporate counsel]
	
	  
 [Typed
name]EXHIBIT 10.1

 

LICENSE AGREEMENT

 

This License Agreement (this “Agreement”) is entered into as of this 1 day of August, 2014 (the “Effective Date”), by and between Graphene Materials Ltd., a company incorporated under the laws of Israel, having a place of business at 3 Yaakov Meridor St., Tel Aviv 6941153, Israel (“Licensor”); and Advance Graphene Ltd., a company incorporated under the laws of Israel, having a place of business at 98 Yigal Alon St., Tel Aviv 67891, Israel (“Licensee”).

 

The Licensor and the Licensee are also collectively referred to herein as the “Parties,” and each individually as a “Party.”

 

	
WHEREAS,

	
the Licensee desires to receive from the Licensor, and the Licensor wishes to grant to the Licensee, an exclusive, non-sublicensable (subject to the terms herein), non-transferable, worldwide, royalty-bearing license to develop, exploit, utilize and Commercialize the Licensed IP and the Licensed Products, in the Field; and

	 	 
	
WHEREAS,

	
the Parties wish to set forth herein the terms and conditions of their research and economic collaboration;

 

NOW, THEREFORE, the Parties hereto, intending to be legally bound, hereby agree as follows:

 

	
1.

	
GENERAL

 

	
1.1

	
The preface and Appendices to this Agreement constitute an integral part hereof.

	 	 
	
1.2

	
The headings of the sections and subsections of this Agreement are for convenience and reference purposes only, and shall not be used for the interpretation thereof.

	 	 
	
1.3

	
This Agreement contains the entire understanding of the Parties with respect to the subject matter hereof, and cancels all prior or pre-existing negotiations, declarations, presentations, commitments and agreements, whether written or oral, whether explicit or implied, between the Parties, with respect to such subject matter.

	 	 
	
1.4

	
In this Agreement, unless otherwise required or indicated by the context, the singular shall include the plural and vice-versa, the masculine gender shall include all other genders.

 

	 
	
Page 1

	

 

	
1.5

	
In this Agreement, the following expressions shall have the meanings appearing alongside them, unless the context otherwise requires:

 

	
 

	
1.5.1

	
“Affiliate” - shall mean with respect to any Person, any other Person that directly or indirectly, through one or more intermediary Persons, Controls or is Controlled by or is under common Control with such Person.

		 	 
	
 

	
1.5.2

	
“Agreement”- shall mean this agreement together with all the appendices and annexes hereto.

		 	 
	
 

	
1.5.3

	
“Commercialize (d)” - shall mean to manufacture, have manufactured, market, distribute, sell, lease and/or make any other disposition of Licensed Products.

		 	 
	
 

	
1.5.4

	
“Commercially Reasonable Efforts” – shall mean reasonable, diligent, good faith efforts to accomplish a given objective as similar entities would normally use in the ordinary course of business, to accomplish a similar objective under similar circumstances.

		 	 
	
 

	
1.5.5

	
“Development Plan” – shall mean the development plan described in Schedule 1.5.5 attached hereto to be undertaken by the Licensee. 

		 	 
	
 

	
1.5.6

	
“Control” – shall mean the power to direct or manage, either alone or together with others, the affairs of the relevant entity, and/or the beneficial ownership, alone or together with others, of more than fifty percent (50%) of such entity by voting share, equity interest, partnership interests, contract or otherwise, and/or the power to appoint or elect a majority of the members of the board of directors or other managing body of the relevant entity.

		 	 
	
 

	
1.5.7

	
“Existing Patents” or “Licensed Patents” – shall mean (a) patent application no. 61/887,469 entitled "A Method for the Large Scale Production of Graphene," filed on October, 7 2013; and (b) all divisions, continuations, continuations-in-part, re-examinations and reissues of the above; and (c) all patents which may be granted pursuant to any of the foregoing patent application.

 

	 
	
Page 2

	

 

	
 

	
1.5.8

	
“Exit Event” - shall mean (a) any event of change of Control in the Licensee, such as for example following the sale or issuance of securities of the Licensee, consolidation, merger or reorganization of the Licensee with or into any other entity following which the Licensee’s then current shareholders hold less than 50% of the issued and outstanding share capital of the surviving entity; (b) an IPO; (c) the sale or transfer of all or substantially all of the assets of the Licensee; (d) any dissolution, winding-up or liquidation of the Licensee; and/or (b) any foreclosure by creditors of the Licensee on all or substantially all assets of, or equity interests in the Licensee, all whether voluntarily or involuntarily.

		 	 
	
 

	
1.5.9

	
“Exit Income” – shall mean any and all amounts and other rights and/or assets (including securities) actually received by the Licensee and by each of the then-current shareholders in connection with an Exit Event.

		 	 
	
 

	
1.5.10

	
“Field” – shall mean the large scale production process of Graphene sheets based on the Licensed IP that uses the production method of exfoliation by Tip Sonication.

		 	 
	
 

	
1.5.11

	
“First Commercial Sale” – shall mean the first sale of a Licensed Product by a Licensee Party to a Third Party.

		 	 
	
 

	
1.5.12

	
“IPO” – shall mean the closing of a sale of the Licensee’s shares to the public in a bona fide, underwritten, public offering pursuant to a registration statement under the U.S. Securities Act of 1933, as amended, the Israeli Securities Law or similar securities laws of another jurisdiction and the listing of such shares for trading on a recognized stock exchange, or the listing thereof on NASDAQ or another recognized, automated quotation system.

		 	 
	
 

	
1.5.13

	
“Initial Research” – shall mean the initial research performed by or on behalf of the Licensor, which shall be limited to research directly related to the Field, and as further detailed in the Development Plan set forth in Schedule 1.5.5 attached hereto.

		 	 
	
 

	
1.5.14

	
“Initial Research Results” – shall mean the results of Initial Research, and Intellectual Property embodied therein and Intellectual Property discovered or acquired in the course of the performance of the Initial Research.

 

	 
	
Page 3

	

 

	
 

	
1.5.15

	
“Intellectual Property” or “IP” - shall mean any and all intellectual property, whether or not registered or protected by patent rights, including, but not limited to, trade secrets, procedures, protocols, inventions, moral rights, drawings, trademarks, databases, know-how, improvements, discoveries, conceptions, ideas, techniques, designs, products, developments, specifications, methods, drawings, diagrams, models, software programs, data, data analysis, data interpretation, written reports, compounds, compositions, substances, processes, rights relating to the protection of confidential information, information and other results of whatsoever nature and all rights therein and rights associated with works of authorship, including copyright, copyright applications, copyrights restrictions, mask work rights, mask work applications and mask work registrations patent, patent applications, patent rights, database rights, rights in designs and all registrations and applications therefore, rights analogous to those set forth herein and any other proprietary rights relating to intangible property, and all continuations, continuations in part, divisional applications, extensions, and renewals of any of the foregoing (as applicable) now existing or hereafter filed, issued, or acquired, in any part of the world.

		 	 
	
 

	
1.5.16

	
“License” - shall mean the license granted under Section 2 below.

		 	 
	
 

	
1.5.17

	
“Licensed IP” – shall mean the application (in the Field only) of the Licensed Patents, any Initial Research Results, any know-how and information related thereto, and New IP. 

		 	 
	
 

	
1.5.18

	
“Licensed Product(s)” - shall mean: (a) any Product the manufacture, use or sale of which without a license from Licensor would infringe upon any Licensed Patent; (b) any Product which embodies, comprises, contains, uses or was developed using the Licensed IP; (c) any Product which embodies, comprises, contains, uses or was developed using Intellectual Property developed independently by the Licensee that is based on the Licensed IP; (d) any Product which embodies, comprises, contains, uses or was developed using Intellectual Property developed independently by the Licensee and "relating to" any of the above Products referenced in Sub-Sections (a) through (c) above; and/or (e) any improvement to any of the foregoing Products referenced in Sub-Sections (a) through (d) above. It is hereby recorded that the phrase "relating to" in this Section 1.5.18 shall mean –dominated by, or, not independent of (the Licensed Patent or the relevant Product, as the case may be).

		 	 
	
 

	
1.5.19

	
“Licensee IP” – shall mean any Intellectual Property developed and/or acquired independently by the Licensee, but excluding for the avoidance of doubt any Licensed IP.

		 	 
	
 

	
1.5.20

	
“Licensee Parties” – shall mean the Licensee and all Sub licensees (to the extent a Sublicense is approved by the Licensor).

		 	 
	
 

	
1.5.21

	
“Net Sales” – shall mean all amounts actually received by the Licensee from a Third Party in connection with the Commercialization of the Licensed IP including all amounts actually received by the Licensee from a Third Party which are generated from sales of Licensed Products; less the following: (a) customary trade, quantity, or cash discounts to the extent actually allowed and taken; (b) amounts repaid or credited by reason of rejection or return; (c) to the extent separately stated on purchase orders, invoices, or other documents of sale, any taxes or other governmental charges levied on the production, sale, transportation, import, export, delivery, or use in direct relation to the Licensed Product which is paid by or on behalf of the Licensee; and (d) outbound transportation and delivery charges, as well as prepaid freight (including shipping insurance) actually incurred by the Licensee in connection to the shipment by the Licensee of Licensed Products; provided, however, that

 

	 	
 

	
(i)

	
in any transfer of a Licensed Product between the Licensee and an Affiliate of the Licensee, Net Sales shall be equal to the total amount invoiced by such Affiliate on resale to an independent Third Party purchaser, after deducting the amounts referred to in Sub-Sections (a) through (d) above, to the extent applicable; and

 

	 
	
Page 4

	

 

	
 

	
1.5.22

	
(ii) in the event that the Licensee receives non-monetary consideration, or in the case of transactions not at arm’s length with a Third Party, or in the event that the Licensee shall make self-use of a Licensed Product, then in all these events Net Sales shall be calculated based on the fair market value of such consideration or transaction, assuming an arm’s length transaction made in the ordinary course of business. To avoid any doubt, it is clarified that in calculating the amount of Net Sales described above, no deduction shall be made from the gross amounts invoiced by the Licensee in respect of any tax based upon the income of the Licensee, whether paid by the Licensee or withheld by the Third Party at source. “New IP” – shall mean Research Results pertaining to the patent applications contemplated as defined under “Existing Patents” and/or the inventions described and claimed therein, as well as patentable IP and/or new patents filed and/or registered therewith, directly related to the Field. (“New Patents”).

		 	 
	
 

	
1.5.23

	
“NIS” – shall mean New Israel Shekels.

		 	 
	
 

	
1.5.24

	
“Person” – shall mean an individual, partnership, corporation, limited liability company, association, joint stock company, trust, probate estate, joint venture, unincorporated organization, governmental authority or any other entity.

		 	 
	
 

	
1.5.25

	
“Product” – shall mean any product and/or device and/or service, and/or any system containing more than one product/device/ service, and/or any combination of the foregoing.

		 	 
	
 

	
1.5.26

	
“Quarter” - shall mean any of the customary fiscal quarters of the calendar year; i.e., the periods from January 1 through March 31, April 1 through June 30, July 1 through September 30, and October 1 through December 31.

		 	 
	
 

	
1.5.27

	
“Sublicense” – shall mean any rights granted by the Licensee under the License to Third Parties with respect to the Licensed IP and/or the Licensed Products upon receipt of prior written approval from the Licensor.

		 	 
	
 

	
1.5.28

	
“Sublicensee” – shall mean a Third Party to whom the Licensee grants a Sublicense and any Affiliate of such Third Party.

		 	 
	
 

	
1.5.29

	
“Sublicensee Net Sales” - shall have the same meaning as “Net Sales” (mutatis mutandis), except that it refers to amounts collected by a Sublicensee from a Third Party in connection with the sale, lease, or any other disposition of Licensed Products by the Sublicensee (as opposed to any amounts collected by the Licensee).

 

	 
	
Page 5

	

 

	
 

	
1.5.30

	
“Sublicense Other Income” – shall mean all amounts received by the Licensee from a Sublicensee attributable to the grant of a Sublicense and which are not attributed to Sublicensee Net Sales.

		 	 
	
 

	
1.5.31

	
“Sublicense Income” - all amounts actually received by the Licensee from a Sublicensee attributable to the grant of a Sublicense.

 

	 	
In the event that the Licensee receives Sublicense Income in the form of non-cash consideration, the equivalent cash value of such non-cash consideration shall be determined based on the fair market value assuming an arm’s length transaction made in the ordinary course of business.

 

	

	
To avoid any doubt, it is clarified that in calculating the amount of Sublicense Income, no deduction shall be made from the gross amounts invoiced by the Licensee, in respect of any tax based upon the income of the Licensee, whether paid by the Licensee or withheld by the Sublicensee at source.

 

	
 

	
1.5.32

	
“Third Party” – shall mean any Person other than the Parties and their respective Affiliates.

		 	 
	
 

	
1.5.33

	
“USD” or “$” – shall mean United States dollars.

 

	
2.

	
GRANT OF LICENSE

 

	
2.1

	
Subject to full compliance by the Licensee with all the terms and conditions of this Agreement, Licensor hereby grants to the Licensee, an exclusive, non-sublicensable (unless explicitly authorized in writing by Licensor, such authorization not to be unreasonably denied; however, it is understood and acknowledged by Licensee that a further sublicense is subject to third party consent), non-transferable and non-assignable (unless otherwise permitted pursuant to Section 12 below), worldwide, royalty-bearing license to develop, exploit, utilize and Commercialize the Licensed IP and the Licensed Products in the Field only.

	 	 
	
2.2

	
Other than the rights expressly licensed hereunder to the Licensee, no other rights or interest whatsoever in the Licensed IP are transferred or granted to the Licensee.

 

	 
	
Page 6

	

 

	
3. 

	
SUB-LICENSES

	 	 
	
3.1

	
Subject to the terms and conditions of this Section 3 and Licensor’s prior written approval, the Licensee shall be entitled to grant Sublicenses under the License. Such Sublicenses shall in all cases be pursuant to written agreements (each such agreement, a “Sublicense Agreement”) consistent with the terms and conditions of this Agreement.

	 	 
	
3.2

	
Accordingly, any act or omission by any Sublicensee, which are not remedied within 45 (forty-five) days from the date of receipt of written notice by Licensor to the Licensee of such act/omission (including, if necessary the termination of such Sublicense Agreement, in which case any Sublicense rights contemplated thereunder shall return to the Licensee) and which would have constituted a breach of this Agreement by the Licensee had it been the act/omission of the Licensee, shall constitute a breach of this Agreement by the Licensee unless the Licensee has terminated the relevant Sublicense Agreement, and in which case the Licensee shall have no further liabilities in this respect.

 

	
4. 

	
CONSIDERATION AND PAYMENT TERMS

	 	 
	
4.1

	
In consideration for the rights granted under this Agreement, the Licensee shall pay the Licensor the following fees and payments:

 

	
 

	
4.1.1

	
Annual License Fee. With regard to each of the first three (3) calendar years following the Effective Date the Licensee shall pay Licensor an annual license fee of USD $7,500 (seven thousand five hundred United States Dollars); thereafter, with respect to any calendar year the Company shall pay Licensor an annual license fee of USD $20,000 (twenty thousand) (“Annual License Fee”).

		 	 
	
 

	
4.1.2

	
Running Royalties. The Licensee shall pay the Licensor the following amounts of all Net Sales (“Running Royalties”):

 

	 	
 

	
(a)

	
3% of all Net Sales - in respect of sales by the Licensee of Licensed Products which are raw materials, i.e. Graphene;

	 	
 

	
 

	 
	 	
 

	
(b)

	
4% of all Net Sales - in respect of sales by the Licensee of Licensed Products which are NOT raw materials recorded in Section 4.1.2(a) above of up to an aggregate amount of USD $20 million; or

	 	
 

	
 

	 
	 	
 

	
(c)

	
5% of all Net Sales - in respect of sales by the Licensee of Licensed Products which are NOT raw materials recorded in Section 4.1.2(b) above exceeding in the aggregate USD $20 million (where such percentage will only be applied to and commencing from the first dollar above USD $20 million).

 

	 
	
Page 7

	

 

	
 

	
4.1.3

	
Minimum Royalties. Starting from the calendar year in which an aggregate net amount of USD $50,000 was achieved from sales of Licensed Products (together by all Licensee Parties), or termination of 4 years from the date of Effective Date, the earlier of the foregoing the Licensee shall pay Licensor an annual minimum royalty as follows the Licensee shall pay the Licensor an annual minimum royalty as follows: USD $20,000 (twenty thousand United States Dollars) per year with regard to each of the first 3 calendar years in which minimum royalties are due as above-mentioned (USD $60,000 in the aggregate for all said three years); and USD $35,000 (thirty five thousand) with regard to any year thereafter (all such amounts: “Minimum Annual Royalties”). The Minimum Annual Royalties shall be creditable against the aggregate sum of the Running Royalties paid to the Licensor with respect to that specific calendar year.

		 	 
	
 

	
4.1.4

	
Expenses. The Licensee shall pay the Licensor the following amounts: a. For the first year of the initial research and development of the continuous production of graphene sheets as detailed in Schedule 1.5.5, the Licensee will pay the Licensor an amount of $150,000 on August 13, 2014, and $50,000 for each of the subsequent four quarters starting October 1 (the “Initial Research Period”). b. Following the Initial Research Period, for any additional research and development to be performed by the Licensor upon the request of the Licensee necessary in order to complete the Research and Development Plan as detailed and contemplated in Schedule 1.5.5, the Licensor will provide the Licensee with an estimated budget for such activities. This budget will include all mutually agreed upon research and development costs and reasonable overhead costs. Patent Filing and Search, Maintenance and Prosecution Expenses. In addition to the expenses set forth above in Section 4.1.4, the Licensee shall reimburse the Licensor for any and all reasonable costs incurred by the Licensor necessary in the respect of patent filing and Search, maintenance and prosecution of any patents contemplated under the Licensed IP and reasonable overhead costs. In respect hereof, the Licensor will provide the Licensee with at least fourteen (14) days prior notice of its obligation to pay such expenses, where such notice will include an estimate of the amount to be paid. The Licensee shall pay said amount within fourteen (14) days of receiving the notice.

		 	 
	
 

	
4.1.5

	
Payments on Sublicense Income. If and when applicable, the parties shall negotiate in good faith the royalties payable by the Licensee to the Licensor with respect to Sublicense Income.

 

	
4.2

	
VAT shall be added to all payments due under this Agreement to the extent required by law.

	 	 
	
4.3

	
All payments due under this Agreement shall be payable in USD. Payment shall be made as follows:

 

	
 

	
4.3.1

	
License Fees shall be paid on the first day of the applicable month.

		 	 
	
 

	
4.3.2

	
Running Royalties shall be paid by the Licensee to the Licensor no later than thirty (30) days after the end of the Quarter in which the underlying amounts are actually received by the Licensee. Minimum Annual Royalties shall be paid in 4 equal installments no later than fourteen (14) days following the end of each Quarter.

		 	 
	
 

	
4.3.3

	
Exit Consideration shall be paid by the Licensee to the Licensor no later than sixty (60) days after the date in which the underlying amounts are actually received by the Licensee and/or Founders.

		 	 
	
 

	
4.3.4

	
In the event that conversion from foreign currency is required in calculating a payment under this Agreement, the exchange rate used shall be the conversion rate for the foreign currency as published by the Bank of Israel, at the end of the last business day immediately prior to the date in which payment is effected to the Licensor.

 

	 
	
Page 8

	

 

	
4.4

	
Without derogating from the Licensor’s rights hereunder or by law to any other additional remedy or relief, if any payment due to the Licensor under this Agreement is not paid within 60 days after its due date of payment, the overdue monies shall bear monthly interest at the monthly rate of one percent (1%) (calculated over a period of up to twelve (12) months) as of the payment due date until actual payment; provided however that the Licensor shall have first sent written notice of said default in payment.

	 	 
	
4.5

	
Each payment due to the Licensor under this Agreement shall be made by wire transfer to the Licensor’s account in accordance with written instructions as provided from time to time by the Licensor, and shall be net and free of any set-offs, deductions or withholdings, except as set forth in Section 4.6 below.

	 	 
	
4.6

	
If applicable laws require that taxes be withheld from any amounts due to the Licensor under this Agreement, the Licensee shall: (a) deduct these taxes from the remittable amount, (b) pay the taxes to the appropriate tax authority, and (c) promptly deliver to the Licensor a statement including the amount of tax withheld and justification therefore, and such information as may be necessary for tax credit purposes. Each Party agrees to assist the other Party in claiming exemption from such deductions or withholdings.

	 	 
	
4.7

	
Without derogating from any termination terms set forth herein, the foregoing royalties shall be payable on a country-by-country basis, for the longer of: (a) fifteen years from date of the First Commercial Sale of the Licensed Product in such country, or (b) until the expiration of all the Licensed Patents.

 

	
5. 

	
COMPANY REPORTS AND RECORDS

	 	 
	
5.1

	
Reports and Records

 

	
 

	
5.1.1

	
Within sixty (60) days after the conclusion of each Quarter, beginning after the earlier of a First Commercial Sale, the Licensee shall deliver to Licensor a report containing the following information:

 

	 	
 

	
(a)

	
the Licensed Products Commercialized by all Licensee Parties in each country for the applicable Quarter;

	 	
 

	
 

	 
	 	
 

	
(b)

	
the gross amount billed for the Licensed Products Commercialized by all Licensee Parties in each country during the applicable Quarter;

	 	
 

	
 

	 
	 	
 

	
(c)

	
a calculation of Net Sales for the applicable Quarter in each country, including a list of any and all applicable deductions;

	 	
 

	
 

	 
	 	
 

	
(d)

	
the amount of Sublicense Income received for the applicable Quarter (including with reference to the amount of Sublicense Other Income and the amount of Sublicense Income attributed to Sublicensee Net Sales);

	 	
 

	
 

	 
	 	
 

	
(e)

	
the total amount payable to Licensor in USD for the applicable Quarter, together with exchange rates used for conversion, if such rates apply;

	 	
 

	
 

	 
	 	
 

	
(f)

	
If no amounts are due to Licensor for the relevant Quarter, a corresponding statement shall be added.

   

	
 

	
5.1.2

	
Licensee shall maintain complete and accurate records of Licensed Products Commercialized under this Agreement, any amounts payable to the Licensor and/or its Affiliates in relation to the foregoing and all Income received by the Licensee and/or its Affiliates; which records shall contain sufficient information to permit Licensor to confirm the accuracy of any reports or notifications delivered to Licensor under Section 5.1.1 above as well as any payments due to Licensor under this Agreement.

 

	 
	
Page 9

	

 

	
5.2 

	
Financial & Technical Audit Rights

 

	
 

	
5.2.1

	
Licensor shall have the right, not more than once a year, at Licensor’s expense and by providing the Licensee with prior written notice of at least 30 (thirty) days, to cause an independent, certified public accountant reasonably acceptable to the Licensee, who is bound by a suitable confidentiality arrangement with the Licensee, to audit the Licensee’s relevant records during normal business hours for the purpose of verifying any reports and payments delivered under this Agreement and/or its performance.

		 	 
	
 

	
5.2.2

	
The Parties shall reconcile any underpayment or overpayment within thirty (30) days after the accountant delivers the results of the audit as well as interest in accordance with Section 4.4 above.

		 	 
	
 

	
5.2.3

	
Notwithstanding the aforementioned and without derogating from Licensor’s rights hereunder or by law to any other additional remedy or relief, in the event that such an audit reveals an underpayment to Licensor by more than five percent (5%), the Licensee shall pay all costs of such audit. In addition, if an audit reveals an underpayment to Licensor by more than ten percent (10%), then with respect to any such audit the Licensee shall also pay to Licensor liquidated damages of twenty five percent (25%) of the outstanding sums; it being noted that such liquidation damages shall not be due for the first audit in which such (10%) underpayment was revealed.

 

	
6. 

	
DEVELOPMENT AND COMMERCIALIZATION

 

	
6.1

	
The Licensee undertakes, at its own expense, to carry out the Licensee Development Plan as detailed in Schedule 1.5.5, and which may be reasonably amended by the Licensee from time to time - and all other steps and actions necessary in order to Commercialize the Licensed Products.

	 	 
	
6.2

	
Without derogating from the provisions of Section 6.1 above, the Licensee shall exert Commercially Reasonable Efforts to develop and to introduce the Licensed Products into the commercial markets as soon as practicable and thereafter, until the expiration of this Agreement, to make all Commercially Reasonable Efforts and endeavors to keep the Licensed Products reasonably available to the public.

	 	 
	
6.3

	
The Licensee shall provide the Licensor with annual written reports, which shall detail the development results and other related work performed by the Licensee during the twelve months prior to the report. Such report shall also set forth a general assessment regarding the development of the Licensed Product and the marketing thereof. Notwithstanding the above, during the first 24 months as of the Effective Date, the reports subject of this Section 6.3 shall be provided on a semi-annual basis (i.e. once every six months commencing on the Effective Date) and the Parties shall in good faith discuss such reports and future actions of the Licensee, and the Licensee shall take into reasonable consideration the reasonable suggestions of Licensor, as shall be communicated during such good faith discussions.

	 	 
	
6.4

	
The Licensee shall submit to Licensor a written notice with regard to the First Commercial Sale within thirty (30) days thereafter specifying its date, the country in which such sale took place and the type of Licensed Product sold. The Licensee shall also submit to the Licensor a written notice with regard to the first achievement of an aggregated annual amount of USD $50,000 from sales of Licensed Products (together by all Licensee Parties), within thirty (30) days from the date of such achievement.

 

	 
	
Page 10

	

 

	
7. 

	
TITLE TO IP

	 	 
	
7.1

	
All rights, title and interest in and to the Licensed IP (including without limitation the Initial Research Results and New IP), and to any improvements, modifications, enhancements, and/or derivatives thereof and thereto, shall be owned by Licensor and/or its designee/s and/or third-party licensors. The Licensee undertakes not to represent in any manner that it possesses any ownership interest in the said IP nor shall any action taken by the Licensee or on the Licensee’s behalf create in the Licensee’s favor any right, title or interest in and to the aforesaid IP, other than in respect of the License granted under Section 2 above.

	 	 
	
7.2

	
All rights, title and interest in and to the Licensee IP shall be owned by the Licensee and/or its designee/s and/or its third party licensors. Licensor undertakes not to represent in any manner that it possesses any ownership interest in the said IP nor shall any action taken by the Licensor or on the Licensor’s behalf create in the Licensor’s favor any right, title or interest in and to the aforesaid IP except the right to received payments due under Section 4 of this Agreement.

	 	 
	
7.3

	
Restriction on Transfer. During the term of this Agreement, the Licensee shall not be entitled to license and/or sell and/or transfer and/or convey and/or create any encumbrance, lien, mortgage, pledge or any other rights in or over the Licensed IP or any part thereof to any third party in any way whatsoever whether for consideration or otherwise.

 

	
8. 

	
REPRESENTATIONS AND WARRANTIES OF THE PARTIES

	 	 
	
8.1

	
Each Party represents to the other that (i) it has all the corporate powers required to enter into this Agreement, (ii) it has taken all necessary corporate action on its part required to authorize the execution and delivery of the Agreement and the performance of its obligations hereunder; (iii) the Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, binding obligation of such Party and is enforceable against it in accordance with its terms and (iv) entering into this Agreement and the performance of its obligations in accordance with its terms will not cause such Party to breach any obligation it has towards any third party. Except as otherwise expressly provided in this Agreement, no Party makes any warranty, express or implied, with respect to any technology, patents, goods, services, rights or other subject matter of this Agreement, including inter alia the Licensed IP, and hereby disclaims warranties of merchantability, fitness for a particular purpose with respect to any and all of the foregoing.

	 	 
	
8.2

	
DISCLAIMER. TO THE MAXIMUM EXTENT PERMITTED BY THE APPLICABLE LAW, OTHER THAN THE WARRANTIES SET FORTH EXPLICITLY HEREIN, IN PARTICULAR IN THIS SECTION 8 AND SECTION 10 BELOW, NEITHER PARTY MAKES ANY WARRANTIES OF ANY KIND. IN PARTICULAR, NEITHER PARTY MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR NON INFRINGEMENT.

 

	 
	
Page 11

	

 

	
9. 

	
CONFIDENTIAL INFORMATION

	 	 
	
9.1

	
Concurrently with the signature hereof, the Parties shall execute a non-disclosure agreement (“NDA”) in the form attached hereto as Schedule 9.1.

 

	
10.

	
LIABILITY, INDEMNITY AND INSURANCE

	 	 
	
10.1

	
Nothing in this Agreement shall impose upon Licensor liability for any Licensed Products Commercialized by any Licensee Party.

	 	 
	
10.2

	
The Licensee hereby declares that it assumes any and all liabilities and responsibilities, under any applicable laws, for any Licensed Products Commercialized by or on behalf of the Licensee. Without derogating from the generality of the aforesaid, the Licensee shall be responsible to obtain, at its own risk and expense, any and all licenses and/or official authorizations, including without limitation with respect to standards and/or quality, required with respect to the development and Commercialization of the Licensed Products in accordance with any applicable laws, rules and regulations.

	 	 
	
10.3

	
All warranties in connection with the Licensed Products, if made, shall be made by the Licensee as manufacturer and seller or service provider, and shall not directly or by implication obligate Licensor or any of Licensor’s officers, directors, agents, employees, shareholders, successors or assignees (collectively with Licensor, the “Licensor Indemnitees”).

	 	 
	
10.4

	
No Licensor Indemnitee shall be liable for any claim, demand, liability, cost, loss, damage or expense (including legal costs and attorneys’ fees) of whatever kind or nature (collectively, “Liabilities”) caused to or suffered by any Person (including any Licensee Party) that directly or indirectly arise out of or result from or are encountered in connection with the exercise of the License and/or the Commercialization of any Licensed IP, including directly or indirectly arising out of or resulting from or encountered in connection with the development or Commercialization of any of the Licensed Products and/or Licensed IP by any Licensee Party, or any Person acting in the name of or on behalf of any Licensee Party, or acquiring, directly or indirectly, any of the Licensed Products from any Licensee Party.

	 	 
	
10.5

	
In the event that any Licensor Indemnitee should incur or suffer any Liabilities in a court of final, non-appealable judgment or settlement that directly arise out of or are encountered as described in Section 10.4 above, or shall be obliged to pay to any Person any amount whatsoever in connection with any Liabilities as aforesaid in Section 10.4 above, then the Licensee shall defend, indemnify and hold harmless such Licensor Indemnitee from and against any and all such Liabilities. The indemnification obligations of the Licensee are conditioned (except as stated otherwise) upon: (a) prompt notice by a Licensor Indemnitee to the Licensee of the cause of action for any claim, provided that failure to notify the Licensee as aforementioned shall not relieve the Licensee from any liability hereunder (i) if the Licensee had actual notice of such action or proceeding, or (ii) unless and only to the extent of any forfeiture by the Licensee of substantial rights and defenses resulting therefrom, and will not in any event relieve the Licensee from any obligation or liability that the Licensee may have to any Licensor Indemnitee otherwise than on account of the indemnity obligation hereunder; (b) the Licensee shall be granted with sole control of the defense of the claim and the settlement thereof, provided that no settlement shall be made without the prior written consent of the Licensor Indemnitee which consent shall not be unreasonably withheld and provided that the Licensee diligently pursues the defense of such claim; and (c) the Licensor Indemnitee provides reasonable assistance and cooperation as requested by the Licensee and at the Licensee's expense.

 

	 
	
Page 12

	

 

	
10.6

	
Without limiting the generality of the foregoing, the Licensee’s indemnification as aforesaid shall include product liability claims and demands for Liabilities attributable to death, personal injury or property damage.

	 	 
	
10.7

	
The Licensee shall at its own expense obtain commercial insurance, commensurate with such level of risk as should reasonably be anticipated in the present and the foreseeable future, to insure against those Liabilities described above during the period immediately beginning prior to any Commercialization and continuing during the entire period that the License is in force, plus any additional period thereafter during which any Licensed Product continues to be Commercialized by any Licensee Party. Such insurance shall be in reasonable amounts and on reasonable terms in the circumstances, having regard, in particular, to the nature of the Licensed Products, and shall be subscribed for from a reputable insurance company. The Licensor shall be included as additional insured under such insurance, and the beneficiaries thereof shall include also the respective employees, officers and directors of the Licensor. Said insurance policy shall include a “cross-liability” provision pursuant to which the insurance is deemed to be separate insurance for each named insured (without right of subrogation as against any of the insured under the policy, or any of their representatives, employees, officers, directors or anyone in their name) and shall further provide that the insurer will be obliged to notify each insured in writing at least thirty (30) days in advance of the expiry or cancellation of the policy or policies. The Licensee hereby undertakes to comply with all obligations imposed upon it under such policy or policies and in particular, without limiting the generality of the foregoing, to pay in full all premiums and other payments for which it is liable pursuant to such policy or policies. Upon request, the Licensee shall submit to the Licensor a certificate of insurance evidencing the aforesaid within thirty (30) days of the date of issue of each such policy.

	 	 
	
10.8

	
LIMITATION OF LIABILITY. WITH THE EXCEPTION OF ANY BREACH OF SECTIONS 9 AND/OR 10 HERETO, NEITHER PARTY SHALL BE LIABLE (WHETHER UNDER CONTRACT, OR TORT (INCLUDING NEGLIGENCE) FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY LOSS OR DAMAGE TO BUSINESS EARNINGS, LOST PROFITS OR GOODWILL AND LOST OR DAMAGED DATA OR DOCUMENTATION, SUFFERED BY ANY PERSON, ARISING FROM AND/OR RELATED WITH THIS AGREEMENT, EVEN IF SUCH PARTY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. EACH PARTY'S AGREGATE LIABILITY UNDER, ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL NOT EXCEED AN AMOUNT EQUAL TO $250,000.

 

	
11. 

	
TERM AND TERMINATION

	 	 
	
11.1

	
The term of this Agreement shall commence on the Effective Date and, unless terminated under this Section 11, shall continue in full force and effect on a country-by-country basis until the later of the following: (a) the date of expiration of both the last of the Licensed Patents and the last of the New Patents in the relevant country; or (b) 15 (fifteen) years from the date of the First Commercial Sale in such country (the “Term”).

	 	 
	
11.2

	
Each Party shall be entitled to terminate this Agreement (without prejudice to other rights and remedies to which it may be entitled pursuant to this Agreement and/or applicable law) by giving notice in writing to the other Party in any of the following events:

 

	
 

	
11.2.1

	
Such other Party passed a resolution for voluntary winding up or a winding up application is made against it and not dismissed within sixty (60) days thereafter;

		 	 
	
 

	
11.2.2

	
A receiver or liquidator is appointed for such other Party;

		 	 
	
 

	
11.2.3

	
Such other Party is declared bankrupt or a receiver or an interim receiver of a material part of its assets is appointed, and the petition in bankruptcy is consented to, acquiesced in or remains undismissed for, or such appointment is not removed within a period of, sixty (60) days.

  

	 
	
Page 13

	

 

	
11.3

	
Each Party undertakes to notify the other Party of any event detailed in Section 11.2 above within 2 (two) business days of its occurrence.

	 	 
	
11.4

	
Either Party shall be entitled to terminate this Agreement (without prejudice to other rights and remedies to which it may be entitled pursuant to this Agreement and/or applicable law) by giving notice in writing to the other Party, if the other Party has committed any breach of this Agreement that is not cured (if capable of being cured) within a sixty (60) days period after receipt of written notice thereof from the terminating Party. In the event of a material breach incurable in nature, termination shall become effective upon such written notice, and the aforesaid 60-day period shall not apply and this Agreement shall immediately revert back to Licensor.

 

	
11.5

	
Upon the expiration or termination of this Agreement, howsoever arising (without prejudice to any additional rights or remedies available to either Party pursuant to this Agreement and/or under applicable law):

 

	
 

	
11.5.1

	
Each Party shall, within thirty (30) days of the effective date of expiration or termination, return to the other Party, or otherwise dispose of as the other Party may instruct, copies of all confidential information disclosed to it, including, inter alia, documentation, technical pamphlets, photographs, specifications and other materials, documents and papers whatsoever, relating to the Licensed IP and/or to the business of the other Party (either directly or indirectly, through its Affiliates or sublicensees) and/or anyone on its behalf may have in their possession or under their control.

		 	 
	
 

	
11.5.2

	
All rights in and to the Licensed IP shall automatically revert to the Licensor, and the Licensee shall thereafter be prohibited from directly making any use of the Licensed IP and/or manufacturing, marketing, selling or distributing the Licensed Products.

		 	 
	
 

	
11.5.3

	
Upon the termination of this Agreement the Licensor will have the option to purchase any or all of the equipment belonging to the Licensee in connection with this Agreement at either book value or for equity ownership in the Licensee, as shall be agreed upon in good faith by the Parties.

 

	
11.6

	
Expiration or termination of this Agreement shall neither: (a) relieve the Parties of obligations accrued prior to such expiration or termination; nor (b) relieve the Licensee of its obligation to report and pay any royalties and/or other payments due to the Licensor prior to the termination of this Agreement, notwithstanding that the relevant payment date of such royalties and/or other payments may occur after the expiration or the termination of this Agreement.

	 	 
	
11.7

	
The Parties’ respective rights under Sections 4, 5 (up to 180 days following termination of this Agreement), 7, 9, and 10-14 (inclusive) shall survive any expiration or termination of this Agreement.

 

	 
	
Page 14

	

 

	
12. 

	
ASSIGNMENT

	 	 
	
12.1

	
None of the Parties may assign this Agreement or its respective rights, duties and obligations hereunder nor any part thereof to any Third Party without the prior written consent of the other Parties.

	 	 
	
12.2

	
Any purported assignment in contravention of the provisions of this Section 12 above shall be null and void, ab initio, and shall constitute a material breach of this Agreement.

 

	
13. 

	
GOVERNING LAW, MEDIATION AND ARBITRATION

	 	 
	
13.1

	
This Agreement, its interpretation, validity and breach shall be governed exclusively by the laws of the State of Israel without regard to its conflict of laws rules.

	 	 
	
13.2

	
Any disputes or controversy or claim arising under, out of or in connection with this Agreement (and subsequent amendments thereof), its valid conclusion, binding effect, interpretation, performance, breach or termination, including tort and unjust enrichment claims, shall be exclusively submitted to, and finally settled by the courts of the City of Tel Aviv, Israel. Notwithstanding the aforesaid, either Party shall be entitled to resort to courts of competent jurisdiction to apply for an injunction, or any equivalent remedy, in order to restrain the breach of any restrictive covenants pursuant to this Agreement.

 

	
14. 

	
MISCELLANEOUS

	 	 
	
14.1

	
If any provision contained in this Agreement is determined to be invalid or unenforceable, in whole or in part, the remaining provisions and any partially enforceable provision will, nevertheless, be binding and enforceable, and the Parties hereby agree to substitute for the invalid provision a valid provision which most closely approximates the intent and the economic effect of the invalid provision.

	 	 
	
14.2

	
The Parties undertake, during the term of this Agreement, to comply with all applicable laws, regulatory requirements and codes of practice in carrying out their respective obligations under this Agreement and in all matters relating hereto.

	 	 
	
14.3

	
The failure or delay of a Party to the Agreement to claim the performance of an obligation of the other Party shall not be deemed a waiver of the performance of such obligation.

	 	 
	
14.4

	
No amendment or alteration of the Agreement shall be valid unless agreed in advance in writing by all Parties hereto.

	 	 
	
14.5

	
Notices to be given by one Party to another shall be deemed properly given if reduced to writing and transmitted to the Party’s address appearing in the first page of this Agreement, by regular mail, certified registered mail - all to be effective 5 (five) days after their sending date, or by facsimile or electronic mail with confirmation receipt - to be effective at the first business day following the date of transmission, or by messenger with confirmation receipt - to be effective at the date of the confirmation receipt. The addresses of the Parties, listed in page 1 (one) of this Agreement, shall be subject to any change of such address notified in writing by one Party to the other, according to the procedure stipulated in this Section 14.5.

 

 [Remainder of page deliberately left blank]

 

	 
	
Page 15

	

 

IN WITNESS THE HANDS OF THE PARTIES

  

 

	
 

	
 

	
 

	
 

	

Advance Graphene Ltd.

	
 

	

Graphene Materials ltd.

	
 

		 			 	
	
By:

	
Mark Radom

	
 

	
By:

	
Jakob Zecharia

	
 

	
Title:

	
Director

	
 

	
Title:

	
Director

	
 

	
Date:

	
____________________

	
 

	
Date:

	
__________________

	
 

 

	 
	
Page 16

	

 

Schedule 1.5.5; Licensee Development Plan

[Attached]

 

 

Schedule 9.1; NDA

[Attached]

 

 

 

 

 

 Page 17

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