Quantum Materials Corp. (fka QTMM)

[TedJ]

MILESTONES – Licensor

a) Licensor is obligated to continual to improve and optimize their patented quantum dot solar cell technology and to achieve a peak solar cell conversion efficiency of 15% on or before the 18th month following execution of this agreement. If licensor does not achieve this target performance within this time frame the licensee will deduct and accrue 10% from the total amount of royalties owing until such time the target performance is achieved. Once the target is achieved the accrued royalties will be paid to licensor.

QMC is the Lisensor.

THIS LICENSE AND DEVELOPMENT AGREEMENT (this “Agreement”) is made as of 19 November, 2018 (the “Effective Date”), by and between Quantum Materials Corporation, a Nevada corporation (the “Licensor”), and Amtronics CC, a limited liability company (the “Licensee”). Each of the parties to this Agreement will be referred to individually as a “Party” or jointly as the “Parties.”

The QD solar cell design and technology is QMC's, and they licensed that technology to Amtronics.