Waiver of Royalty Payments Agreement between Igor Gorodnitsky and Cavitation Technologies, Inc.
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Summary
This agreement is a waiver by Igor Gorodnitsky of his right to receive 5% royalty payments from Cavitation Technologies, Inc. for revenues generated between May 13, 2010, and June 30, 2011. The waiver is based on a prior patent assignment agreement, and it applies only to royalties accrued during this specific period. After June 30, 2011, the original royalty terms resume unless otherwise agreed.
EX-10.10 2 v222436_ex10-10.htm Unassociated Document
May 5, 2011
Chief Financial Officer
Cavitation Technologies, Inc.
10019 Canoga Avenue
Chatsworth, CA 91311
Re: Waiver of Royalty Payments through June 30, 2011
Dear CFO:
Under the terms of the patent assignment agreement entered into between Igor Gorodnitsky and Hydrodynamic Technologies Inc on July 1, 2008 which was subsequently assigned to Cavitation Technologies Inc on May13, 2010, I am entitled to 5% royalties generated from revenues. I am here by waiving my rights to receive royalty payments that have accrued only to the gross revenue that’s made or may occur between May 13, 2010 and June 30, 2011.
Sincerely,
Igor Gorodnitsky
May 5, 2011
