Featured Story
Intel and telcos left in virtual RAN limbo by rise of AI RAN
A multitude of general-purpose and specialist silicon options now confronts the world's 5G community, while Intel's future in telecom remains uncertain.
End plan to jointly develop products for the photonics industry; stock restriction agreement will also terminate
April 13, 2001
SAINT-LAURENT, Quebec -- Lumenon Innovative Lightwave Technology, Inc. (NASDAQ NM: LUMM) announced today that it mutually agreed with Molex Incorporated (NASDAQ: MOLX, MOLXA) to terminate the Teaming Agreement between Lumenon and Molex. The term of the Teaming Agreement, as amended, ended on December 19, 2000. Under the Teaming Agreement, Molex and Lumenon agreed to jointly develop products for the photonics industry. As a result of the termination of the Teaming Agreement, the Stock Restriction Agreement among Lumenon, Molex and certain stockholders of Lumenon will also terminate in accordance with its terms.
In addition, Molex and Lumenon have engaged in discussions regarding a potential agreement under which Molex would have the opportunity to purchase certain products from Lumenon on mutually agreeable terms and conditions. Molex and Lumenon have agreed that Dr. Tony Moretti of Molex will remain on the Lumenon Board of Directors for the remainder of his term.
http://www.lumenon.com
You May Also Like