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Extract to table / draft-settlement-term-sheet.docx
draft-settlement-term-sheet.docx
Parties
SETTLEMENT FRAMEWORK Optiwave Semiconductor Corp
Harkness LLP
Optiwave Semiconductor Corp
Plaintiff Optiwave Semiconductor Corp
Callahan LLP
Cruz LLP
Trask Eddington LLP
OWS-NovaWave Corp
Dates
April 22, 2024
May 1, 2024
June 17, 2024
August 5, 2024
September 9, 2024
October 21, 2024
September 14, 2016
March 19, 2019
April 7, 2017
January 12, 2021
Amounts
$780
$18.5
$24.00
$37.00
$3.4
$34.5
$94.8
$128.4
$41.7
$264.9
Obligations
No binding obligation shall arise unless and until a definitive settlement agreement is executed by all parties
Any proposed settlement must be presented to and approved by the full Board, including Mr
The purpose of this term sheet is to provide a framework for settlement discussions and to identify the key terms, conditions, and open issues that must be resolved before a binding settlement can be reached
No binding obligation shall arise from this term sheet
1 Lump-Sum Payment As partial consideration for the settlement of the Litigation, the mutual release, and the other covenants set forth herein, Lumicore shall pay to OWS a lump-sum cash settlement payment in the amount of $[___] million (the "Lump-Sum Payment")
Wire transfer instructions shall be provided to Lumicore by OWS separately and in advance of the Payment Date