eMagin assigned to Kodak all rights, title and interest to a patent entitled "Serially-connected Organic Light Emitting Diode Stack Having Conductors Sandwiching Each Light Emitting Layer" (the "Patent"). In consideration to the Company for the transfer of the rights to the Patent, Kodak agreed that:
(1) Each of the Company's quarterly royalty payments owed to Kodak under the certain Nonexclusive Field of Use License Agreement Relating to OLED Technology for Miniature, High Resolution Displays, dated March 29, 1999 between the Company and Kodak, as amended(the "License Agreement") for the second half (from July 1 through December 31) of calendar year 2007 shall be reduced by fifty percent (50%); and
(2) Each of the Company's quarterly royalty payments owed to Kodak under
Section 4.2 of the License Agreement for the calendar year 2008 shall be reduced by fifty percent (50%).