Amendment to License Agreement between Solterra Renewable Technologies, Inc. and William Marsh Rice University

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Summary

This letter agreement between William Marsh Rice University and Solterra Renewable Technologies, Inc. temporarily suspends Rice's right to terminate their existing license agreement for 90 days, until March 16, 2011. The stay is conditional on Solterra working diligently and in good faith with Rice to revise certain diligence milestones in the agreement. All other terms of the original license agreement remain unchanged. Both parties must sign the letter for it to take effect.

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EX-10.8 2 ex108.htm EXHIBIT 10.8 ex108.htm
Exhibit 10.8
 
 
 
OFFICE OF TECHNOLOGY TRANSFER 
      NILA BHAKUNI
       DIRECTOR
       
 
 
 
December 16, 2010
 
Mr. Stephen Squires
President Et CEO
Solterra Renewable
TechnoLogies, Inc.
ASU Research Park
7700 S> River Parkway
Tempe, AZ 85284
 
 
Re: Amendment to the License Agreement between Solterra Renewable Technologies, Inc. and William Marsh Rice University, Agreement # OTT LA 09-1-001 (the “License Agreement”)
 
Dear Stephen:
 
This Letter agreement between William Marsh Rice University (“Rice”) and Solterra Renewable Technologies, Inc. (“Solterra”) shall, upon execution by Solterra, operate as an agreement to temporarily stay any exercise by Rice of Rice’s current termination rights as set forth in Section 5 of the License Agreement for a period of ninety (90) days after the date of this letter (i.e., through and including March 16, 2011). This stay is contingent upon Solterra working diligently and in good faith with Rice to agree upon mutually agreeable revisions to the Company Diligence Milestones in Appendix B of the License Agreement before the end of this 90 day stay period.
 
All other provisions of the License Agreement shall remain in full force and effect.
 
Please indicate your agreement to the terms of this Letter agreement as set forth above by signing where indicated below and returning a copy to my attention no later than December 22, 2010.
 
Sincerely,
 
 
 
/s/  NiLa Bhakuni
NiLa Bhakuni
 
 
 
Agreed and accepted:
  
       
 
 
 /s/   
    Stephen Squires  
   
President & CEO
  
    Solterra Renewable Technologies, Inc.  
 
 
 
 
 
 
 
 
 
 
E-mail: ***@*** | Office: 713 ###-###-#### | Fax: 713 ###-###-#### | Rice University Office of Technology
Transfer– MS 705, P.O. Box 1892, Houston, Texas ###-###-####