EXHIBIT 10.26
TECHNOLOGY STRATEGIC ALLIANCE: MEMORANDUM OF UNDERSTANDING
1. This Memorandum defines the intent of Kaiser Electro-Optics (KEO) and Vista
Medical Technologies (VMT) to co-operate in advancing the technology and
application of medical head mounted displays (MHMD).
2. KEO and VMT will co-operate in joint development programs as appropriate,
both for the existing MHMD and future iterations. Such co-operation will
be determined by managements on a project by project basis. Development
programs undertaken by KEO will be paid for according to a fee structure
mutually agreed in advance of the program commencing.
3. KEO will grant VMT * * * of
independently developed new technology or devices, exercisable provided
that VMT contracts with KEO for a mutually agreed proportion of the
development work and ...
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