Repository: UIHistories Project: Board of Trustees Minutes - 1926 [PAGE 499]

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496

board of trustees

[December 28

First: The Board w l , on request, a s g to Urbana Coke, i s s c e s r il sin t ucsos and assigns, the entire right, title, and interest in, to, and under Letters Patent of the United States, No. 1,458,964, dated June 19, 1923, together with all rights of recovery for past infringements thereof, if any. Second: T h e Board will, on request, assign to Urbana Coke, its successors and assigns, the entire right, title and interest in and to each and all of the applications for Letters Patent of the United States listed above, and in and to all inventions embraced in said applications, together with allright,title, and interest in and to such improvements in the inrentions embraced in said applications and in said Baille-Barrelle patent, No. 1,458,964, as m a y at any time prior to October 1st, 1926, be owned by T h e Board. Third: Urbana Coke hereby assumes the obligation of T h e Board to pay the patent attorney charges above identified. Focrth: Urbana Coke covenants and agrees that it will diligently endeavor to commercialize the Parr and Layng process of coking coal, and covenants and agrees that if at the end of five years from the date of this agreement it has not spent as much as Fifty thousand ($50,000.00) Dollars, in research, development and patent expense (inclusive of the patent-attorney charges now to be paid) it will re-assign to T h e Board for a consideration of One ($1.00) Dollar all rights that m a y have been assigned to it by T h e Board under Paragraphs First and Second above, but Urbana Coke does not agree under this clause to assign to T h e Board any foreign patent rights, nor any other patent rights acquired by Urbana Coke Through sources other than T h e Board. Fifth: Urbana Coke covenants and agrees to, and does hereby grant to T h e Board a non-exclusive, non-divisible and non-assignable license, free from royalty, under such patent rights as Urbana Coke m a y acquire from T h e Board under Paragraphs First and Second above, and also all subsequent patented improvements therein that m a y at any time be owned by Urbana Coke, to build and operate a plant or plants at the University of Illinois to supply the University with products of the process, said license including the right to sell all products. Said license is not to be construed as broad enough to permit T h e Board to use the process beyond the extent needed to satisfy the University's requirements for products of the process, and the use of the plant for educational purposes. Sixth: T h e Board covenants and agrees that from now until October 1, 1926, it will permit Samuel W . Parr, Thomas E. Layng and Floyd H. Hobarth and their assistants in this line of work, to carry on this coal and coke research at the University of Illinois in much the same way and on approximately the same scale as it has been carried on during the past year, Urbana Coke paying all bills for common labor and for material and equipment and for gas consumed and for breakage of materials, all in accordance with the general custom at the University of Illinois when work is being carried on there on behalf of any private individual or corporation, T h e Board however making no charge for housing or overhead. Seventh: Urbana Coke will endeavor to settle with Messrs. Kuehn and Fulks, for such claims, if any, as they, or either of them, m a y have against the early research work, and if a settlement cannot be effected, will defend itself as best it can against any claim by Messrs. Kuehn and Fulks, or either of them. I N T E S T I M O N Y W H E R E O F , the parties hereto have caused this instrument to be executed and their corporate seals to be affixed, by their respective corporate officers thereunto duly authorized, as of the date and yearfirstabove written. T h e Board of Trcstees of the University of Illinois By W. L. Noble, Attest: H. E. Cunningham President Secretary Urbana Coke Corporation Attest: Duncan Keith Secretary By S. W. Parr President