Effective March 31, 1999 (“Effective Date”), the University of Virginia Patent Foundation (“UVAPF”), a
Virginia not-for-profit corporation, having a principal place of business at 1224 West Main Street, Suite 1-110,
Charlottesville, Virginia, 22903, and MedQuest Products, Inc. (“MedQuest”), a Utah corporation, having a
principal place of business at 825 North, 300 West, Suite NEI07, Salt Lake City, Utah, 84103, agree as follows:
ARTICLE I: RECITALS
1. In the course of research at the University of Virginia, the University of Utah, and MedQuest
Products, Inc., Paul Allaire, Eric Maslen, Ron Flack, Don Olsen, Gill Bearnson, Pratap Khanwilkar, James
Long, B. Ajit Kumar, and Mary Sinnott have made certain inventions relating to an implantable blood pump
2. The research at the University of Virginia was sponsored, in part, by the United States
Government. As such, any rights granted herein are subject to a non-exclusive, royalty-free license held by the
United States Government to practice the Inventions.
3. Certain patent applications covering the Inventions have been filed.
4. UVAPF, MedQuest, and the University of Utah Research Foundation are joint owners of the
entire interest in the Inventions and any patent applications relating thereto.
5. MedQuest desires to obtain exclusive rights to the Inventions and any patent applications
relating thereto in order to develop and commercialize the Inventions. To this end, MedQuest desires to
exclusively license UVAPF’s rights with respect to the Inventions and any patent applications relating thereto.
6. UVAPF is willing to grant such a license under the terms and conditions set forth in this
Agreement, and wishes to reserve the right to practice the Inventions for educational and research purposes at
the University of Virginia.
ARTICLE II : DEFINITIONS