Interesting indeed...
The Corporation has certain proprietary intellectual property that it desires to license and has spent considerable time and effort developing relationships, concepts, plans and ideas in connection with the further development, marketing, manufacturing and selling a robotics chair for use in the rehabilitation industry which was initially developed by NIST and is currently being further developed at Florida Gulf Coast University in Fort Myers, Florida. The robotics chair is referred to herein as the “HLPR Chair.”
C.
The Company desires to retain the Consultant to (i) obtain licensing agreements and settlements with trade secret and patent violators of its intellectual property and (ii) to assist in obtaining funding and business opportunities for the Corporation with the HLPR Chair and the Consultant desires to accept the engagement.
b. Licensing and Legal Settlements regarding RWT Patents and Trade Secret Violations. Consultant shall have the nonexclusive right to license the RWT intellectual property (patents) and pursue compensation for trade secret violations, subject to the Corporation’s approval of any licensing agreement or trade secret award or settlement. Consultant shall be paid 7.5% of all net revenues received by the Corporation during the period commencing on the date of this agreement through the date which is the third anniversary of this agreement from such licensing agreements or trade secret awards or settlement agreements entered as a direct result of Consultant’s efforts. Consultant shall advise the Corporation as to all third parties he intends to contact one week prior to such contact and such contact and information delivered to prospective patent or trade secret infringer/violator shall be in accordance with the Corporations established method of securing licensing revenues and trade secret awards or settlements. After proof of the delivery of the appropriate communications, the name of the targeted patent infringer or trade secret violator shall be entered onto the official list of qualified companies for which Consultant will be eligible to receive said compensation in accordance with this paragraph 1 (b) of this agreement. As of the date hereof, the only qualified company is KUKA.
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