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LICENSE TERMS
<br />licensor Aus developed "licensed Technology"Cos defined below) and Litensee wishes to otquire o license to useihe Licensed Technology. The porfies hereto agree as lollows:
<br />1. )3efinitions.
<br />a. "Litensed Tethnalogy" means li[ensor's proprietary methods, produns and systems, whiek ore also referred to as the Posi-Shell®(over System for produfing Lovers for landi0s and othtt applicmions. Litensed Technology
<br />shall include eny issued patents, patent appliniions, tt patents shot may he filed and issucd savoring said proprietary methods, Ixoducis and systems.
<br />h. "Licensed ProduA"means the materiels oriel produrts supplied by Litensor to licensee hereunder. Licensed ProduA shall 6e deemel paA of Licensed Technology.
<br />r. "Linnsor" is L5C Environmental ProduA:, LLC
<br />d. "litensee" is idenlilied as Lessee on this Agreement.
<br />2. brans of License. Licensor hereby grants to Litensee anon-exeluslve Litense (hereinaher "Tethnalogy License's to use Licensed Product far ifs intended purpose; and use Litensed Technology solely for the purpose of using
<br />Licensed Product. Licensee may not suhlitense the Licensed TechndoA7
<br />3. Ownershia. Litensee a[knowledpes that Litensor is the owner of all right, title oriel interest in and to licensed Technology and agrees Ihat it shell lake na actions that would nnirarene or diminish those rights. Litensee shall not
<br />reverse engineer any Licensed Technoogy, including, without limitation, Litensed ProduA. Li[msee a[knawledges shot licensor may seek potent protetsion for Licensedlechnelagy, or parts thereof. Litensee further agrees not to
<br />[ha0enge, mdse to be challenged, or assist ethers to cha0enpe, direAly tt indirecdy, the volidiry and/er emm[evhility of any patent upplitations tt patents mowing the Litensed Tethnology.
<br />4. Rewresentotions oriel Wnnoniies. Litensor makes no representations, express ar implied, ether then these expressly set torlh in this Litense.
<br />~P~•
<br />Npon occeptonce sf ibis bgreement, Litensor grants to Litensee o Technology Litense for use of the Posi-$hellm Carer System for its intended purpose vs described above oriel in Licsnsar's operdien monuvls, training, oriel other
<br />directives.
<br />STANDARD CONDITIONS
<br />Lessor wishes to proof oriel the lessee wishes to acquire a lease to utilize Posi-SheNw Environmental footings Equipment utilized to apply the Posi-Shell Environmental Coatings preduos ("llcensed Prsdurts" os defined m the TechneloAY
<br />Agreement) al a spefific rise. In tonsidwotioe of the mutual promises set forts, the pmlies hweto agree as fo0aws:
<br />SERION 1-0efinitions 1.1 "Tertit°rv" moms the area or site whine Me Applintion Equipmem wNl be usod, as ies[rihed m pogo one of this pgreement.
<br />1.2 "Aeolicetion Eeuiament° meaes Me equipment necessary to blend, store bilk ingredients, oriel apply Me Litensed hodurts, indudiny hm not limited to, on LSC Posi-Shell AppR[alm veil LSC Norizomd Sila.
<br />SECTION 2-Appllxation Equipmersf 2.1 The lessor looses to Mo lessee and Me Lesson 6erehy leases and hires ham the Lessor Me Applicatim Equipment.
<br />2.2 Terms. Tha tmm of this Agreement respedinp the Applitelim Equipmem commences on the data said Nems of Equipment arrive d Ma Terrhory. Tha durdim is os spedfled en pogo one of Mis agreement.
<br />2.3 ~. The tee for the Application Equipmem shall he the amount defined m pogo inn. The lessee shall pay the Lessor rent os described on pogo one in the amounts end d the flmes sal feAh, d Me e0ite of the Lessor or to such
<br />other govern and/or at such other place as the Lessm may, hum time to lima, designate in writing.
<br />T.1 Ijgg. The Lessee thoN use the Applitaion Equipment in o careful and proptt manner and shaA comply wits oriel sonlarm to dl inshunions Iran lessor relating to the possessim, use and mointananta of such Equipmem. Extepi as
<br />otherwise allowed 6y the Lessor, Ma Ap~itation Equipment shell mly ba used la apply the Licensed hoduAS. The use of Me Applintiin Equipment with non-Litensed Predrfis shah immediately tarminete dl warramies under skis
<br />Agreement oriel all implied warcanhes, and shah be considered a nosr-savable defauh by Me Lessee under this Agreement.
<br />2.1 Ins°edien. The Lassa sheN, at my anJ all limas during the hsiness heart, have the right to inter iota anJ open the premises when Me AppDMiin Equipmml may ba tonsil iw she purpose d inzpeaing Me same ar observing its
<br />use. lessee shall give Lesstt immediate eatite of any atlmhment or any allsm judifid profess eNeAinp any Nem of Equipmem and MaA, whenever requested 6y Lassa, advise Lessm of Me exaA lecolion sf the Application Equipment.
<br />The Applicaion Equipment shall remain within Me Territory, except wits prim wshen consent of Me lessor.
<br />2.6 Imorerementc Wilhom prier tmsem d Me Lesser, the Lessee shah not make any elterolim, addition tt improvement to Me Applicaflen Equipmem.
<br />T.7 Reewirs. The Lessee, d its owa [sA and axpmss, shall keep the Appli[diin Equipment in good rspdr, conditim oriel working order and shell hrcnlsh any oriel aN parts, mechanisms and devices requires to keep the Applicaton
<br />Equipment in goad mechenicel end wonting mdtt and agrees, d she end of Me Applicaflm Equipmml term, to retwn Me Applicaflen Equipment to the lessor in Me some smdigon it ores rweived (excepting normal wem). The Lessor shah
<br />agree to cooperate whh the Lessee wits respeA to Me pmts requested 6y Me Lessee to maintain Me Application Equipment, and rNl ship the pan within 2d horns, if peznlle, elreceipt e(e pttchese order by Ilse Lessee.
<br />2.a
<br />T.9 Ri Le TM Lessee hereby assumes oriel shall bror Me emhe risk al lass and damage to the Application Egdpmam, excluding ttdinary wem and tear and detests in Me Aryli[mim Equipment. No bss w dsmope la Me
<br />Applitmian Equipment or any port shared shell impair arty oNigatim d Me Lessee undtt Mis Agreement which shell cominue in fuN torte ind eNeA. In Me evem el lass or damage d my kind whdseever to any Nem of Application
<br />Equipment, the Lessee, d the sptiao sl Me Lasso, shvN:
<br />(a) (Mote the same in good repeh, [endition and xigind winking xdar (excepting normal wem) m pay in sash to the Lessm the amount to do ze; tt
<br />(b) Replace the some wits like Applisation Equipment in good repair, tindition oriel working order, w if Me soma is determined 6y Me Lessor to be last, stolm, desheyed w damaged beyond repair, Me Lessee shall;
<br />(c) Pay Lessor therefore in [ash Me foflowing loss value: Honzantal Silo-Medal H$/SOf @ SIIS,DDD.ND each, Applicders-Modal PSA 2000 @ SN0,000.00 mth, Medsl PSA IB00 ~ f68,000.00 each
<br />2.10 Termtnatien. Npan the exptretion w termindim of this Agreement wits respeA to my item d Applicatim Equipment, the Lassen shag return the some to Me Lessm it pond repeh, cinditian oriel working ardor, xlinery wear and
<br />leer sccepsed. Said some Applitatim Equipmem may ba ovoilsble fa pmchvza only aher sxpirdian o1 Mis Agreemam.
<br />2.11
<br />2.12 Llens and Fees. The Lessee shah keep Applicatim Equlpmmt Erse and nom d all levies, liens and m[umbromes ofd shell pay lease feat, registretim fees, assessnem, Mmgaz and texas whidt may now or hareaher 6e Imposed
<br />on the use of the Application Equipment.
<br />2.13
<br />2.id 6uarerwee of Payment. N Me lessee, with regard to any item sr Nems el Application Equipmem labs se goy any rem er elhw amount httein prarlded far within 10 Boys aher Me same is due std payable, ar if the Lessee, whh
<br />regard to any Hem or items of Applicmim Equipment, fills to observe, keep or perform any aher prorisien of My Agreemam required to 6e observed, kept, or perlttmed by Lessee, Me Lessor shah hero Me right to ezerdse any one of
<br />the fv0awing remedies:
<br />(o) Ta declare the entire amomf d rent hereunder immediaely due and payable os to any and aN Nems of Applitmisn Equipmem without notice ar demand to Lessee;
<br />(h) Ta sue for and rsmver dl rams or mher payments then accrued tt ihereaher mcruing with respeA to eny other items of Applicaion Equipmem;
<br />(c) To take possession d any or aq items of Applitdian Equipment wished demand or netiee, wherever some may 6e located, wNhom any CauA order w other process vi low. Lessee hereby waives any and all damages
<br />eaosioned by such taking of pestessian. My such taking of possession shill rim [institute a terminofiin of Mis Lease as to arty ar dl items d ApplinNm Equipmml inlets the lesstt expressly so nafilies Me Lessee
<br />in wnNng;
<br />(d) Totwminate Ilds Agreement es to any and dl Nems of Application Equipment; or
<br />(s) To pursue any other remedy d law or in equity. Notwithstanding any other repossession w any other artien which Me Lessor may Coke, the Lessee skull 6e and remain liable for the IuN performonte of all obligmiens on
<br />Me port el the Lessee to 6e performed undw Ilds Agreement.
<br />2.15 Ootion to Purchase. Lessee shell hove no option to purchase the equipmem under this Agreement dining the term of Mis Agreement.
<br />SERION 3-Insolrenry 3.1 Neither Mis Agreement nor my interest therein is essignohle ar transferoNe by operdion of law. If any prn[eedinp under o Bonkruplry AA or sA d re<sivership is [ommen[ed 6y and against the lessee,
<br />or if the Lessee is adjudged insolvent, w it the Lessee makes any assignment for the benefit of its creditors, m N a writ of aaochment or exeMian is levied on any item ar items of the Application Equipmem and is not released or sdislied
<br />within 10 dogs Ihareaher, or if o racsirtt is appointed in any praceading or ocflon to which the Lessee is a party with authority to take pestessian m conhd m any item or Nems of the Application Equipmem, the Lessor shall hove oriel may
<br />exercise any one of its remedies end this Agreemam sheA, m the optlm of the Lessm, without notice, immediately tarminata and shall not 6e traded as on ester of the lessee aher Ma exercise of said option.
<br />3.2 The Application Equipment is soil shill of ~ times be oriel remain the sole and ezdusive property el the Lessor and the Lessee shah hove rte right, ROe w interest therein er thereto, except as expressly set forth.
<br />SERION 4Payments J.1 As tonsidsrotim for the lease of Me Application Equipment, the Lessee shall pay the Lessor rent os spadfied an page one er as otherwise provided by properly azeeuted Addendum. Past due mcouats ore
<br />subjeA to a I.SYr monthly tea based en tba total overdue bolanfe.
<br />4.2 In the event that the Lessee does nil fuflill the requirements of the agreed upon term, the Lessm shah goy Lessor 50°/i o} oN Appli<aion Equipment loose fees of the remainder m Me onginel twin as stored on page one of this
<br />Agreement.
<br />4.3 All payments required undm this Section shop ha made In full wiMmt any deductions for withholding tt other foxes or levy.
<br />SERION Sues and Taxes S.1 AI dues, fazes and othw expenses imposed 6y my Gavenmem or Government Agenry in tennertien with Me artirilies conduclsd and payments made pursuant to Mis Agreement shill 6e paid 6y
<br />the lessee.
<br />SERION b-Publicity end Tndemwrks 6.1 TFe lessee shell have the right to make referenze, in advertising materials and otherwise, fo the lesser er Me ovine of the Licensed Products
<br />6.T The Lessor shah hove Me right to puhliAze the use of the Lifinsed Products at the territory for promotional and <uztemer reference purposes.
<br />SERION 7-Term of AgreemerA and its Cancellofion 7.1 This Agreement is efle<lire upon the exetufion by the porfies hereto.
<br />7.T All rights and o6ligdions of the parties set forts in Mis Agreemam shall expire os specified on page one ar as modified by properly executed Addendum.
<br />T.3 Prior to the expiration date of this Agreemanl es set forth in this Agreement, the lessor may, in its option, terminme this Agreement if the Lessee:
<br />(a) Foils 1o make any poymem required under chit Agreement; or -
<br />(b) Is declared insolvent, files n voluntary petition for honkruptry or has filed against it an involuntary petition which is not stayed within 30 days Mereaher, er liquidates for any reason other than as o pert of the
<br />rearganizotion of the lessee os on ongoing haziness; or
<br />([) foils to panorm any other abligdim required under this Agreement within 30 days aher re[eivinp notice of any such loilure by the Lessor; or
<br />(d) Allows the release or disnosure to any unpermined third porfies of my Resirirted Information in vitiation of the terms of This Agreement.
<br />(e) Commits anon-fumble default under this Agreement.
<br />7.1 In Me event shot this Agreement is terminded os provided herein, m amounts paid under this Agreemam shah 6e refunded to the Lessee.
<br />SERION 8-Governing Law E.1 This Agreement shall be construed and governed 6y the lows of substance of the Slate of North Cardino.
<br />SERION 9-Miscellaneous 9.1 The Lessee's rights and obligations under This Apreamenf may na16e assigned or Transferred to another parson yr entity, extepl with the wrihan oppravol of Iha lessor.
<br />9.T AN toptiins in this Agreement ore given only for conrenien<e oriel have no logal force.
<br />9.3 In the event that any Section or part of this Agreement shop 6e held by o Court of fompelent jurisdiction to 6e unlawful or invalid, such Section ar purl shall be deemed severed from this Agreement and Me validity thereof shall hove
<br />no eheA en the validity of Iha remainder of this Agreement.
<br />9.g This Agreemam [onztitutes the entire agreement between Iha ponies with respeA to the suhjeA matters hereof and all preexisting negotiations, correspondence, or agreements ore null and void upon exe[utian of Miz Agreement.
<br />9.5 All amendments and alterations of this Agreement shall 6e mode only pursuant to a written instrument executed 6y the parties fo this Agreemanl end their authorized representative.
<br />9.6 Any notices, requests, statements, submissions or other communi[afions required or pmmined 6y Ibis Agreement shah 6e given in writing and, for all purposes, shall ha deemed given and elfertive on carriers verified delivery dole,
<br />or aher 10 days of moiling, if dispot<hed by air mail (which shall be certified tt registered, wits postage pre-paid),ond properly addressed to either pony as designated on page one at this ogreemenl.
<br />Posi-Shell®ond Posi-Poks®ore registered trademarks of LSC Environmental Products, LLC
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<br />Lessor initial /Dine
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<br />lessee initial /Dote
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