PRINCETON UNIVERSITY,
RESEARCH AGREEMENT
Amendment No. 2
April 11, 2002
The Trustees of Princeton University ("Princeton") and Universal Display
Corporation ("Sponsor") having previously entered into a Research Agreement
effective August 1, 1997, as amended by Amendment No. 1 (the "Agreement") do
mutually agree to amend the Agreement as follows:
1. Section 1 is amended to include the Statement of Work outlined in
Exhibit A, entitled "Research on Advanced Organic Thin Film Devices for
Displays and Organic Electronics, UDC Phase 3 Work Plan", last revised
on April 11, 2002.
2. Section 3 is amended by deleting "July 30, 2002" and inserting "July
30, 2007" in lieu thereof.
3. Section 4 is amended by deleting the first sentence and inserting in
lieu thereof: "Princeton shall be reimbursed by Sponsor for all costs
incurred in connection with the research at a maximum level of
$7,477,993. As of the effective date of this Amendment, all financial
obligations for research from Phase 1 or Phase 2 shall cease, and any
funds remaining at Princeton shall be applied to year 1 of Phase 3 and
be credited against the $7,477,993.
4. In accordance with the terms and conditions of Section 7, UDC's
exclusive rights to inventions resulting from this project shall be
extended to cover all work described in this Phase 3 Scope of Work,
i.e., the field of thin film organic electronics, appended herein. No
other commercial entity will fund the PI's work in this area.
5. Section 13 is amended by deleting the name of "Professor ▇▇▇▇ ▇▇▇▇▇▇▇"
6. The Agreement with the University of Southern California (USC)
referenced in Section 20 shall be amended by Princeton and USC to
provide that Princeton's subcontract with USC is extended in accordance
with this Amendment and the Statement of Work.
7. Interest shall accrue on the amounts paid by Sponsor until spent by the
University. The accrued interest shall be used to support this project.
8. This Amendment shall be effective as of August 1,2002.
9. Except as specifically modified by this Amendment, all of the
provisions of the Agreement are hereby ratified and confirmed to be in
full force and effect, and shall remain in full force and effect.
UDC Inc., a wholly owned subsidiary of Universal Display Corporation
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ (Date) 14 May 02
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Chairman of the Board and Chief Executive Officer
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ (Date) 14 May 02
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▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, President and Chief Operating Officer
The Trustees of Princeton University
By: /s/ ▇▇▇ ▇▇▇▇▇▇▇ (Date) 14 May 02
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▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇
By: /s/ ▇▇▇▇▇ ▇▇▇ (Date) 14 May 02
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▇▇▇▇▇ ▇▇▇, ▇▇▇▇ of the School of Engineering and Applied Sciences
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ (Date) 14 May 02
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Professor and Principal Investigator
