exhibit 10. 2 execution copy license agreement this license agreement ( this “ agreement ” ) is made and entered into as of september _ _, 2018 ( the “ effective date ” ), between loop industries, inc., a nevada corporation with a principal place of business at 480 fernand - poitras, terrebonne, quebec ( “ loop ” ), and indorama loop technologies, llc, a delaware limited liability company with a principal place of business at [ * * * ] ( “ joint venture company ” ) ( each of loop and joint venture company is a “ party ” ; together they are the “ parties ” ). background a. the loop parties have developed a proprietary depolymerization process that decouples plastic from fossil fuels, producing dimethylterepthalate ( “ dmt ” ) and monoethylene glycol ( “ meg ” ) for the production of polyethylene terephthalate ( “ pet ” ) plastic that can be used for a variety of polyester applications. b. concurrently with the execution of this agreement, loop innovations, llc, a delaware limited liability company and a subsidiary of loop ( “ loop innovations ” ), and indorama ventures holdings lp, a delaware limited partnership ( “ ivh ” ), have formed joint venture company to develop, construct, own and operate chemical upcycling polyester resin ( “ cupet ” ) plants through spvs, the initial of which will be at a facility of [ * * * ], a delaware corporation and a subsidiary of ivh, located in [ * * * ], the united states of america ( such facility, the “ [ * * * ] facility ” ), and to, among other things, manufacture licensed products ( as defined below ) at [ * * * ] facility, and potentially other facilities, for sale throughout the world ( such contemplated venture, the “ cupet project ” ). c. in connection with the cupet project, joint venture company for itself and its subsidiaries ( individually a “ jv party ”, and collectively, “ jv parties ” ) wishes to receive from the loop parties, and the loop parties wish to license to jv parties, certain loop patents and related loop know - how ( each term as defined below ) for the purpose of retrofitting the [ * * * ] facility ( and potentially other facilities ) to manufacture, use, market, and sell licensed products under the terms and