SEC Contract Filing

Filing Date: 2020-11-06

Document Content:
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<TYPE>EX-10.2
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<DESCRIPTION>EX-10.2
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-right:9.75%;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;color:#FF0000;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:6pt;margin-top:0pt;margin-left:72.25%;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">TTP plc<br />Melbourn Science Park<font style="font-size:9pt;"><br /></font>Cambridge Road<font style="font-size:9pt;"><br /></font>Melbourn<font style="font-size:9pt;"><br /></font>Hertfordshire, England<font style="font-size:9pt;"><br /></font>SG8 6EE</p>
<p style="margin-bottom:10pt;margin-top:0pt;margin-left:71.79%;text-indent:0.45%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup> September 2020</p>
<p style="margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">QBD (QS IP) Limited<font style="font-size:9pt;"><br /></font>28 Esplanade<font style="font-size:9pt;"><br /></font>St Helier<font style="font-size:9pt;"><br /></font>Jersey JE2 3QA <font style="font-size:9pt;"><br /></font>Channel Islands</p>
<p style="margin-bottom:10pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attention: Ed Farrell, Chief Operating Officer</p>
<p style="margin-bottom:10pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Amendment to IP Rights Agreement between TTP and QBD (QS IP) Limited </p>
<p style="margin-bottom:10pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The parties, TTP plc (&#8220;TTP") and QBD (QS IP) Limited ("QBD-IP"), entered into an Intellectual Property Rights Agreement on March 4, 2014 (the "IPR Agreement"), as amended on April 24, 2017. This Amendment records an agreed change to the licence payment schedule.</p>
<p style="margin-bottom:10pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">It is agreed that the IPR Agreement shall be amended as follows:</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:10pt;">Under Section 2.11, the due date for the remaining payment of USD$5,500,000 of amounts payable by QBD-IP to TTP, which as of September 22<sup style="font-size:85%;line-height:120%;vertical-align:top">nd</sup>, 2020 have not yet been paid, shall be as follows:</p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">a.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:10pt;">[***] on September 30<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup>, 2020</p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:10pt;">&nbsp