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REFR > SEC Filings for REFR > Form 8-K on 6-Oct-2008All Recent SEC Filings

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Form 8-K for RESEARCH FRONTIERS INC


6-Oct-2008

Entry into a Material Definitive Agreement, Financial Statements and Exhib


Item 1.01. Entry into a Material Definitive Agreement.

On October 6, 2008, Research Frontiers Incorporated and Pittsburgh Glass Works LLC ("PGW") announced that PGW acquired a non-exclusive worldwide license from Research Frontiers to make SPD-Smart(tm) automotive glass products utilizing Research Frontiers' patented light-control technology, including smart sunroofs, roof glass systems, and windows. PGW is North America's largest producer of automotive glazing.

On September 29, 2008, Research Frontiers Inc. and PPG Industries, Inc. entered into the aforementioned license agreement. On September 30, 2008, PPG Industries (NYSE: PPG) sold its automotive glass and services business, which was granted the license, to a new company, Pittsburgh Glass Works LLC, which was formed by funds managed by Kohlberg & Company, LLC, Mount Kisco, N.Y. PPG will hold a minority ownership interest of approximately 40 percent in Pittsburgh Glass Works LLC.

The worldwide license provides for a 10% royalty payable to Research Frontiers on sales of licensed products. Other license provisions,including fees and minimum annual royalties payable to Research Frontiers, were not disclosed.

The foregoing description of the license agreement with PPG Industries, Inc. does not purport to be complete and is qualified in its entirety by reference to the License Agreement, a copy of which is attached as Exhibit 10.50 to this Current Report on Form 8-K and incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

10.50 License Agreement effective as of September 29, 2008 between Research Frontiers Incorporated and PPG Industries, Inc. filed herewith with portions of this document omitted pursuant to the Registrant's request for confidential treatment and filed separately with the Securities and Exchange Commission, and incorporated herein by reference.

99.1 Research Frontiers and Pittsburgh Glass Works Press Release dated October 6, 2008

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