Waiver Agreement Regarding Technology Transfer Fee Installments under Amended and Restated Technology License Agreement between CopyTele, Inc. and Videocon Industries Limited

Summary

CopyTele, Inc. and Videocon Industries Limited have agreed to modify the payment schedule for certain technology transfer fee installments originally due in 2009 and 2010 under their existing license agreement. CopyTele waives the original due dates, provided Videocon pays $300,000 by March 1, 2011, and both parties agree on a new payment schedule for the remaining balance by April 15, 2011. All other terms of the original license agreement remain unchanged.

EX-10.26 2 a6608783_ex1026.htm EXHIBIT 10.26 a6608783_ex1026.htm
Exhibit 10.26



[COPYTELE, INC. LETTERHEAD]
 
 
January 12, 2011


Videocon Industries Limited
2nd Floor, Fort House, D.N. Road
Fort, Mumbai 400 001 (INDIA)
Attention:
Venugopal N. Dhoot, Director
 
Naveen Mandhana, Sr. Vice President

 
Dear Sirs:

With respect to the installments of the Technology Transfer Fee scheduled to be paid by February 16, 2009, November 16, 2009 and August 16, 2010, under the Amended and Restated Technology License Agreement between Videocon Industries Limited (“Videocon”) and CopyTele, Inc. (“CopyTele”), dated May 16, 2008 (the “License Agreement”), CopyTele hereby waives the February 16, 2009, November 16, 2009 and August 16, 2010 due dates for such installment payments on the condition (i) that Videocon make an additional payment of such installments of $300,000 no later than March 1, 2011, and (ii) that Videocon and CopyTele agree upon a mutually acceptable payment schedule for the balance of such installments prior to April 15, 2011.  Except as specifically set forth herein, all terms and conditions of t he License Agreement shall remain unchanged and shall continue to be valid and binding upon the parties thereto.
 
 
 
Sincerely,
   
 
COPYTELE, INC.
   
   
 
By:
/s/ Denis A. Krusos
 
   
Denis A. Krusos
   
Chairman and C.E.O.