Estd. 1990 Memorandum of Understanding Between University of Management and Technology, Lahore & RON Extrusions Engineering (Preamble) University of Management and Technology (UMT), Lahore and Institute Name, (hereinafter referred to individually as a “Party A”, “Party B” and collectively as “the Parties”) have shown their interest to explore cooperation in Academic programs and Research projects, especially, in the field of Information Technology, as well as other areas of mutual interest and for this purpose both “the Parties” have agreed to sign this Memorandum of Understanding ‘As such UMT, Lahore and Institute Name have made this agreement to cooperate and coordinate with each other in the following matters. I. Subject i. Adjustment of students and faculty for intemship: arch materials and provision of technical support publications and other ii. Exchange of academi including research papers, protocols developments, ‘mutually agreed relevant information; iii, Joint research projects, workshops and conferences; Recommendations of expertise and competence of Party A’s graduating students; and iv \lemie programs/projects, y. Other mutually agreed vi, Supervision of final year thesis by industry experts, Royalty share in case of research products developed as a result of the collaboration being sold vii. UMT Road, C-lI, Johar Town, Lahore-54770, Pakistan LAN: 042.111 300 200 Fax:+92 42 35184789 Email info@umt.edu pk Website: wwwumteduplIl. Obligations and Responsibilities of the Parties To implement the aforementioned MoU, “the Parties” commit themselves to provide the necessary conditions as outlined below: i, Both sides will maintain regular liaison, circulate essential information and coordinate activities in mutually agreed joint projects. ii. UMT, Lahore being the host Institution of this program will be responsible for the coordination of its departments with Institute Name for arrangements of academic activities, workshop/seminars and research projects as per mutual understanding, iii, Institute Name will share their expertise, industrial demands, issues fa and current tools that are being used at the industry with UMT, Lahore. ed by the industry iv, Outcome of the research activities such as research, publications and other findings shall be shared between UMT, Lahore and Institute Name. The parties will acknowledge the contribution of each in their research work/publications; and with respective share in published material in terms of authorship/contribution. y. In case of any and all research products developed as a result of the collaboration, UMT shall claim 1% of the total profits per month as royalty vi Focal pe ns from the Institute Name shall be appointed for giving seminars, motivational lectures and for becoming co ~ supervisors for the final year thesis at UMT, Lahore, vii, The Parties will appoint respective focal persons to administer and coordinate all the activities under the MoU within two weeks of signing of the MoU. Il. Terms and Order of Action of the Agreement The Agreement will take effect from the date of its signing by both “the Parties”. {, This memorandum will remain in effect for three years at the end of which period the memorandum will be reviewed by both “the Parties” and will be renewed by mutual written consent, ii, ‘This memorandum may be terminated by either “party” by providing a three months written notice of termination. However, all research and other progress based upon the MoU will be shared between two parties as per conditions mentioned earlier. iii, Each “Party” will act on their own respective behalf in all relations with a third party. ‘either “Party” will be responsible for any commitment of a party with the third party. iv. In case of a difference of opinion, both “the Parties” will try to come to an acceptable solution through discussion with the spirit of cooperation y. ‘The Parties agree that all obligations under the MoU and any agreement resulting from the MoU shall be performed in a manner protective and consistent with both parties reputation for excellence and integrity in education, research and scholarship.‘vi. The MoU involves no financial liabilities on either of theParty. vii. Neither party shall disclose nor communicate terms of the MoU nor any confidential information relating to the other party's affairs to any third party. viii. The MoU is a description of scope of partnership and is not intended to create a legally binding relation between the parties. The MoU is written and signed in two copies in English having equal force, each party receives one copy.gal Address of the P: University of Management and Technology, C-l Johar Town, Lahore. Tel: +92. 42 35212801 Fax +92 42 35184789 | Registrar: +92 42 5212801-10 Fax +92 42 35212819 E-mail:info@umt.edu.pk Website:www.umt.edu.pk ‘Company Name: RON Extrusion Engineering ‘Address, Tel: 03009497548 Fax: Website: ww.ronextrusions.com SIGNATURES 01 F THE PARTIES | For UMT Prof Abid H K Shirwani, Director General, UMT. For Company Name : ; RON Extrusion Engineering Raja Omer Nawaz Chief Executive Officer Witness Fro (cér/ Industry Academia Linkages