Amendment No. 1 to Patent License Agreement between SecureTech, Inc. and Shongkawh, LLC dated March 13, 2024

EX-10.2 2 ex102.htm AMENDMENT NO. 1 TO PATENT LICENSE AGREEMENT BETWEEN SECURETECH, INC. AND SHONGKAWH, LLC DATED MARCH 13, 2024 Amendment No. 1 to Patent License Agreement

AMENDMENT NO. 1

to

PATENT LICENSE AGREEMENT

(Originally Dated March 2, 2017)

 

 

This AMENDMENT NO. 1 to PATENT LICENSE AGREEMENT entered into between Lee Kao and Thao Kao (collectively, “Inventor”), Shongkawh, LLC, a Minnesota limited liability company (“Assignee”), and SecureTech Innovations, Inc., a Wyoming corporation (“Licensee”), (collectively, “Amendment”) is made and effective as of this 13th day of March, 2024.

 

NOW, THEREFORE, the Parties hereto agree as follows:

 

1.SECTION 3.1 is amended in its entirety to read as follows: 

 

“Royalty Payment. For the rights granted in this Agreement, and subject to Section 3.3 herein below, Licensee shall pay Licensor a royalty payment of one dollar (US$1.00) per annum.”

 

2.SECTION 3.2 is amended in its entirety to read as follows: 

 

“Reserved. This section is reserved for future amendment.”

 

3.SECTION 3.3 is amended in its entirety to read as follows: 

 

“Payment. Payment of royalties shall be made to Licensor not later than the thirtieth (30th) day ("Due Date") after the end of each calendar year to which a royalty payment is earned and due.”

 

 

 

 

 

 

 

 

 

[Signatures on Following Page]


Amendment No. 1 to Patent License Agreement

Shongkawh, LLCPage 1 of 2 


 

SIGNATURES

 

IN WITNESS WHEREOF, the parties, by their duly authorized representative, have caused this Agreement to be executed on this 13th day of March, 2024.

 

INVENTOR/LICENSOR:

 

 

 

/s/ Lee Kao  

Lee Kao

 

INVENTOR/LICENSOR:

 

 

 

/s/ Thao Kao  

Thao Kao

 

 

 

ASSIGNEE/LICENSOR:

 

 

 

/s/ Lee Kao  

Lee Kao

President and Chief Executive Officer

Shongkawh, LLC

 

LICENSEE:

 

 

 

/s/ Lee Kao  

Lee Kao

President and Chief Executive Officer

Securetech, Inc.

 


Amendment No. 1 to Patent License Agreement

Shongkawh, LLCPage 2 of 2