ClearVue Technologies Limited announced that it has signed an MOU with Grafsol Trading LLC for exclusive distribution rights in the United Arab Emirates, Kuwait, Bahrain and Qatar and non-exclusive distribution rights in Saudi Arabia. Under the terms of the non-binding MOU the Parties will work together to formalize a Distribution Licence as soon as possible with the expectation that this is completed and signed within 60 days of the MOU being signed but subject to satisfactory due diligence of Grafsol by ClearVue. The MOU sets out the fundamental terms for the distribution license being that: Grafsol will become the exclusive licensee to distribute the ClearVue products and technology in the territories of the United Arab Emirates, Kuwait, Bahrain and Qatar (the Exclusive Territory) and the non-exclusive licensed distributor rights in the Kingdom of Saudi Arabia (the Non-Exclusive Territory); Subject to performance in the license may be extended to include the right to manufacture; The term of the License will be 5 years (with 2 further 5 year extensions subject to agreement compliance and meeting all ongoing performance criteria); Royalties to be paid (in USD) based on square meters of glass sold that includes the ClearVue technologies (or any part of them). A license fee to apply to the right to manufacture if granted; Additionally, should the license rights be extended to include the right to manufacture Grafsol shall be required to purchase from ClearVue certain technology components including ClearVue's PVB interlayer containing its proprietary nano and micro particle formulation as well as the solar cell strips required to be used in the manufacture of the ClearVue PV glazing system; and other terms typical of a license agreement of this nature is included.