Saturday, May 07, 2011 9:52:40 AM
In the May 4th Exibit F Addendum to licensing agreement
4. Licensor shall grant Licensee the use of any and all existing intellectual property rights or patent pending and patents in any improvement developed or discovered during the Term, whether by Licensor or Licensee and Licensee hereby assigns, and agrees to assign in favor of Licensor, all intellectual property rights accumulated therein. Both parties shall promptly notify each other in writing of any improvement that it develops, whether patentable or not and both shall benefit from each other's patents, patent pending and/or intellectual property during the Term of the Agreement.
This signed agreement puts to bed that there is any possibility that Robert could take a buyout for the patents and technology leaving Wanderport out of the transaction as has been speculated on the board. Equal parties as I see it.
Also from the filing:
6. A possible employment contract to hire Licensor, suitable to both parties, may be forthcoming as milestones are achieved by Licensor and the Company.
I think this is ALL GOOD and also puts to rest the comments made about there being disagreements between the two parties. I think these other notations in this agreement are just as important as the share lock up. They have demonstrated to me that they will not dilute without very good reason. Yes, Robert controls a great number of shares in the future, all the more reason for them to work together to produce our revolutionary new product.
GO WDRP!
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