Exhibit 10.15
Compensation for Research and Development and
Technology for Field Emission Display
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This Agreement is between CopyTele, Inc. ("CopyTele") located at ▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, and Volga Svet Ltd. ("Volga Svet")
located at 101 ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇.
The amount of compensation by CopyTele to Volga in accordance with Sections 5.2
and 9 of the Agreement dated 10 May, 2001 between CopyTele and Volga Svet (the
"10 May Agreement") is set forth in Attachment 1. The funds to be received by
Volga will be used mainly for research and development, purchasing of facilities
and production areas for Field Emission Display technology for additional work
to be performed by Volga during Phase I of the 10 May Agreement. The
compensation includes payments for license rights under Russia Patent No.
2152662.
It is agreed that the first paragraph of Section 9 of the 10 May Agreement be
modified to read as follows:
Volga shall grant to CopyTele a non-exclusive, irrevocable and worldwide license
of its background Patents and Background Technology with the right to CopyTele
to sublicense Futaba, its Affiliates and Associates upon payment by Futaba to
CopyTele and CopyTele to Volga of the amounts referenced in Paragraph 5.2.
Volga Svet Ltd. CopyTele, Inc.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By:/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Director Chairman of the Board
Date: February 1, 2002 Date: February 1, 2002
Agreed with:
N.D. Zhukov, Director,
R&D Institute, Volga
/s/ N.D. Zhukov
Attachment 1
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Compensation
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The payment of $US 750,000.00 will be transferred by CopyTele to the account of
Volga Svet according to the following schedule:
February 4, 2002 $US 200,000.00
March 4, 2002 $US 100,000.00
April 4, 2002 $US 150,000.00
May 4, 2002 $US 150,000.00
June 4, 2002 $US 150,000.00
Total $US 750,000.00
Payments are effected without submission of invoices from Volga Svet
Bank references Volga Svet Ltd.:
Israel Discount Bank of New York,
New York, USA
2