ROCHESTER, N.Y., Dec. 27 -- Eastman Kodak Company (NYSE:EK) today announced that it has entered into a technology license agreement with NEC Corporation that will allow each company access to the other’s patent portfolio.

The license agreement, which provides significant benefits to both companies, is royalty bearing to Kodak. Additional financial terms were not disclosed.

“We are pleased to have reached a mutually beneficial arrangement that advances the interests of Kodak and of NEC,” said Laura G. Quatela, Chief Intellectual Property Officer, and Vice President, Eastman Kodak Company. “The cross-license agreement provides each company access to the other’s technology, and validates the strength of Kodak’s intellectual property portfolio.”

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2010