Kratos and Orbital ATK Missile Products Division Reaffirm Kratos’ Oriole Rocket Motor Exclusive Rights Agreement
The Oriole SPRM agreement acknowledges Kratos’ investment in the design of the Oriole SPRM and reaffirms Kratos’ exclusive, world-wide, perpetual, irrevocable, fully paid-up, royalty-free, non-transferable right and license to use the Oriole SPRM Design, Oriole SPRM Data and Oriole SPRM Tooling within the sounding rocket, suborbital research, and target marketplaces. OATK will not sell Oriole SPRMs to any individual or entity in competition with Kratos in the sounding rocket, suborbital research, or target marketplaces as long as OATK is the sole manufacturer for Kratos of the Oriole SPRM. On a case-by-case basis, Kratos may allow OATK to sell Oriole SPRMs in the restricted market areas, subject to mutually agreeable terms and conditions. Additionally, OATK agrees not to internally fund the development of a New SPRM, to compete within the sounding rocket, suborbital research, and target marketplaces leveraging the Oriole design data and /or Oriole SPRM performance parameters.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended
Source: Kratos Defense & Security Solutions, Inc.