AMENDMENT No. 1
to the
SETTLEMENT AND LICENSE AGREEMENT
(originally effective as of July 31, 2006)
by and between
UNIVERSAL DISPLAY CORPORATION (“UDC”)
and
SEIKO EPSON CORPORATION (“EPSON”)
This Amendment No. 1 shall amend and modify, to the extent of any inconsistency, the provisions of the above-referenced Settlement and License Agreement (the “Agreement”). This Amendment No. 1 shall be effective as of March 30, 2009.
| 1. | The deadline for the credit referred to in the fifth (5th) sentence of Article 4 of the Agreement is hereby extended [The confidential material contained herein has been omitted and has been separately filed with the Commission.] |
| 2. | Except as set forth in this Amendment No. 1, all other terms and conditions of the Agreement shall remain in full force and effect. |
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly signed by their respective authorized representatives as of the dates written below.
| UNIVERSAL DISPLAY CORPORATION | SEIKO EPSON CORPORATION | |||
| By: | /s/ Steven V. Abramson | By: | /s/ Mitsuro Atobe | |
| Name: | Steven V. Abramson | Name: | Mitsuro Atobe | |
| Title: | President | Title: | Deputy General | |
| Administrative Manager, | ||||
| Corporate Research & | ||||
| Development Division | ||||
| Date: | March 31, 2009 | Date: | 24 Mar. 2009 | |