Exhibit 10.2
SETTLEMENT
AGREEMENT
THIS SETTLEMENT AGREEMENT
(hereinafter “Agreement”), is made by and between
(i) Lightbridge, Inc. (“Lightbridge”), corporate
successor to Coral Systems, Inc. (“Coral”), and
(ii) Lucent Technologies Inc. (“Lucent”).
RECITALS
This Agreement is entered into with
reference to the following facts:
A. Coral and Lucent entered into
a certain Software Acceptance and Distribution Agreement, effective
September 30, 1996, and amended June 5, 1997, pursuant to
which Lucent was granted a license to distribute and sub-license a
software product commonly known as Fraudbuster (“Software
Agreement”).
B. In accordance with the terms
of the Software Agreement, Lucent sub-licensed Fraudbuster to Cox,
Sprint PCS and others.
C. A dispute arose between Coral
and Lucent as to the amount of license and other fees, if any, due
under the Software Agreement (“License Fees”).
D. Coral commenced an action in
the Massachusetts Superior Court, Coral Systems, Inc. v. Lucent
Technologies Inc. , Middlesex County, CA. 2001-01914
(“Litigation”).
E. The parties, and each of
them, now wish to settle the Litigation and any and all claims
relating to or arising out of the Software Agreement, including
without limitation all claims for payment of License Fees.
AGREEMENT
NOW, THEREFORE, in consideration of
the mutual promises contained in this Agreement, the parties agree
as follows:
1. Recitals. Recitals A
through E are incorporated as part of this Agreement.
2. Payment. Lucent shall
pay to Lightbridge the sum of One Million, Four Hundred Thousand
dollars ($1,400,000.00) (“Payment”). Such Payment shall
be made within thirty days of the execution of this Agreement by
both parties and the delivery by Lightbridge to Lucent of a
completed IRS Form W -9 specifying the recipient of the
Payment.
3. Stipulation of
Dismis
