PRODUCT CO-DEVELOPMENT AGREEMENT
This Agreement (the "Agreement") is made as of ____________________________ (the "Effective Date") by and between:
Party One: _______________________________________________
Address: _______________________________________________
Party Two: _______________________________________________
Address: _______________________________________________
Each a "Party" and together the "Parties."
1. Purpose
Parties will co-develop the Product described in Exhibit A.
2. Contributions
Each Party’s contributions listed in Exhibit B.
3. Ownership
IP ownership allocation set forth in Exhibit C.
4. Governance
Steering committee with equal representation directs project activities.
5. Cost Sharing
Costs shared per Exhibit D.
6. Exit Strategy
If project discontinued, Parties follow wind-down terms in Exhibit E.
Signatures
PARTY ONE
PARTY TWO
By: _______________________________
By: _______________________________
Name: _______________________________
Name: _______________________________
Title: _______________________________
Title: _______________________________
Date: _______________________________
Date: _______________________________
Exhibit A – Product Description
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Exhibit B – Contributions
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Exhibit C – IP Ownership
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Exhibit D – Cost Allocation
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Exhibit E – Exit Terms
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