- 11 -
Copies of the research and development (R&D) contract and
the license agreement referred to in the preceding paragraph were
attached as exhibits to the offering memorandum. The R&D
contract identified U.S. Agri Research and Development Corp.
(U.S. Agri) as a party to the contract and the R&D contractor
thereunder. The license agreement identified U.S. Agri as a
party to the contract and the licensee thereunder.
G. U.S. Agri
As previously indicated, the offering memorandum identified
U.S. Agri as the R&D contractor under the R&D contract and as the
licensee under the license agreement. U.S. Agri was also the R&D
contractor and the licensee for Utah Jojoba, Blythe Jojoba I,
Blythe Jojoba II, and Desert Center Jojoba.
As previously indicated, Mr. Pace was the president of U.S.
Agri and a member of its board of directors. Mr. Kellen also
served as a member of U.S. Agri’s board until he became general
partner of Utah Jojoba, Blythe Jojoba I, Blythe Jojoba II, and
Desert Center Jojoba in late 1982.
Mr. Pace and Mr. Kellen were close personal friends and
business associates for a number of years before the formation of
San Nicholas in late 1983.
10(...continued)
of the license agreement by San Nicholas served to automatically
terminate the R&D contract pursuant to the terms of the latter
contract. See infra “J”.
Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 NextLast modified: May 25, 2011