SEC Contract Filing

Filing Date: 2018-09-14

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>prkr-20180911xex10_1.htm
<DESCRIPTION>EX-10.1
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 101 - Patent Security Agreement between Registrant and Mintz Levin
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 <a name="_GoBack"></a><font style="display: inline;color:#000000;font-size:12pt;">Patent Security Agreement</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">Patent Security Agreement, dated as of September 11, 2018, by ParkerVision Inc., a Florida corporation ("Pledgor"), in favor of Mintz Levin Cohn Ferris Glovsky and Popeo, P.C. (the "Recipient").</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">WHEREAS, the Pledgor is party to a fee agreement dated as of February 25, 2016 (as amended, amended and restated, supplemented or otherwise modified from time to time, including the fee agreement dated August 17, 2018 regarding the second phase of the monetization program, and the fee agreements dated August 20, 2018 regarding (i) the New Jersey district court action, (ii) support of German litigation and (iii) the IPR appeal (collectively, the "</font><font style="display: inline;color:#000000;font-size:12pt;text-decoration:underline;">Fee Agreement</font><font style="display: inline;color:#000000;font-size:12pt;">") and desires to grant a security interest in certain of Pledgor&#x2019;s patents to Recipient.</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">Now, THEREFORE, in consideration of the promises and to induce the Recipient to enter into further dealings, the Pledgor hereby agrees with the Recipient as follows:</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">SECTION 1. </font><font style="display: inline;color:#000000;font-size:12pt;text-decoration:underline;">Grant of Security Interest.</font><font style="display: inline;color:#000000;font-size:12pt;"> As security for prompt and complete payment of the Secured Promissory Note dated August 20, 2018, made by Pledgor in favor of Recipient (the &#x201C;Note&#x201D;) and for future invoices issued by Recipient under the Fee Agreement, Pledgor does hereby pledge, collaterally assign and grant to the Recipient, its successors and assigns, a continuing security interest in all of its right, title or interest in, to or under all of the following assets, regardless of where located (collectively, the &#x201C;IP Collateral&#x201D;):</font>
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 <font style="display: inline;color:#000000;font-size:11.5pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;font-size:12pt;">Patents of the Pledgor listed on Schedule I attached hereto; and</font>
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 <font style="display: inline;color:#000000;font-size:11.5pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;font-size:12pt;">all proceeds of any and all of the foregoing.</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">SECTION 2. </font><font style="display: inline;color:#000000;font-size:12pt;text-decoration:underline;">Security Agreement.</font><font style="display: inline;color:#000000;font-size:12pt;"> The security interests granted to the Recipient herein are granted in furtherance, and not in limitation of, the interests granted to the Recipient in the Fee Agreement.&nbsp;&nbsp;In the event of any conflict between the terms of this Agreement and the Fee Agreement, the terms of the Fee Agreement shall govern.</font>
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 <font style="display: inline;color:#000000;font-size:12pt;">SECTION 4. </font><font style="display: inline;color:#000000;font-size:12pt;text-decoration:underline;">Termination.</font><font style="display: inline;color:#000000;font-size:12pt;"> Upon the payment in full of the Note and of future invoices issued by Recipient under the Fee Agreement, the Recipient shall promptly execute, acknowledge, and deliver to the Pledgor an instrument or instruments (in recordable form, if necessary) releasing the collateral pledge, grant, assignment, lien and security interest in the IP Collateral.</font>
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