Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 102]

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1926]

UNIVERSITY OF ILLINOIS

99

$1545 of the Gregory Scholarship fund, the Estep bequest of $450, and $5 of the Gehrmann fund, be invested in special assessment sewer bonds of the city of Champaign. Action on this matter was deferred. INVESTMENT OF ANONYMOUS LOAN FUND Mr. Armstrong presented for the Finance Committee a recommendation that $10,000 of the Anonymous Loan Fund be invested in U. S. Treasury Certificates issued September 15, 1926, and maturing June 15, 1927, bearing y A percent, and $10,000 in Second Liberty Bonds, bearing 4^2 percent interest. O n motion of Dr. Noble, this recommendation was adopted. BROWN-KNIPP RADIO TUBES Mr. Armstrong presented for the Finance Committee a recommendation that the following license be executed.

LICENSE AGREEMENT

W H E R E A S , the Board of Trustees of the University of Illinois, having offices at Urbana, Illinois, hereinafter called the "Licensor", represents that it is the owner of, and has the right to grant licenses under, the inventions contained in United States application for Letters Patent of H. A. Brown, Serial N o . 576,666, filed June 13, 1923, for Electric Tube and Process of making same, and under any patent or patents that m a y issue on said application or any division or renewal thereof or any reissue of said patent or patents; W H E R E A S , Radio Corporation of America, a Delaware corporation, having offices at 133 Broadway, N e w York, N e w York, General Electric Company, a N e w York corporation, having offices at Schenectady, N e w York, and Westinghouse Electric and Manufacturing Company, a Pennsylvania corporation, having offices at East Pittsburgh, Pennsylvania, and their respective owned and controlled companies, hereinafter called the "Licensees", desire to obtain the rights and licenses hereinafter recited, under said inventions, patent applications, and patents; N O W , T H E R E F O R E , be it known that for and in consideration of Ten Thousand Dollars (?io,ooo) in hand paid to the Licensor by the Licensees and other good and valuable consideration, receipt of which is hereby acknowledged, the Licensor agrees as follows; (1) The Licensor hereby grants to the Licensees joint and several non-exclusive rights and licenses to make, use, sell, lease, and otherwise dispose of devices, systems, and methods embodying or utilizing inventions contained in said application or applications and patent or patents entirely free of royalty. (a) Rights and licenses granted herein shall continue for the full life of the patent or patents issued on said application or applications or any reissue or reissues of said patent or patents. (3) The licenses and rights herein granted to the Licensees shall be nondivisible and non-assignable except that each of the Licensees m a y extend this license to its respective owned and controlled companies and shall inure to the benefit of the successors and legal representatives of any and all the Licensees. (4) It is understood and agreed that no rights or licenses are granted to the Licensees under any inventions or improvements except those disclosed in said application and divisions or renewals thereof and the patent or patents issuing thereon or reissues of the same.