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IMI > SEC Filings for IMI > Form 8-K on 31-Dec-2013All Recent SEC Filings

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Entry into a Material Definitive Agreement


Amendment to Collaborative Development Program Agreement with Guardian Industries Corp.

On December 30, 2013, we amended two collaborative development program ("CDP") agreements that we had previously entered into with Guardian Industries Corp. ('Guardian"). We entered into our first CDP agreement with Guardian in February 2010 to collaborate on research and development tasks relating to liquid coatings for flat glass. We entered into our second CDP agreement with Guardian in July 2010 to collaborate on research and development tasks relating to sputtered coatings for flat glass. Prior to this amendment, the agreements were amended effective January 1, 2012 ("First Amendment").

This most recent amendment is effective as of December 31, 2013, and as amended, the period of development activities under our CDPs with Guardian will be extended for one (1) month through January 31, 2014 ("Interim Extension Period"), with Guardian paying us the same monthly fee for our resources as agreed by the parties in the First Amendment.

The development activity under both agreements will end on January 31, 2014, unless extended by mutual agreement. The parties are in negotiations to finalize the terms of an extension for both CDPs beyond the Interim Extension Period. However, there is no assurance that such a transaction will be consummated.

The foregoing description of the amendment does not purport to be complete and is qualified in its entirety by reference to the amendment that will subsequently be filed as an exhibit to our Annual Report on Form 10-K as required by SEC rules.

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