Common use of ANNUAL LICENSING FEES Clause in Contracts

ANNUAL LICENSING FEES. An advance-licensing fee of $100 will be charged by the University on an annual basis for gross sales up to $1,000 per year. If gross sales exceed $1,000, additional fees will be applied according to the following schedule: • A ten percent (10%) royalty fee will be required for gross sales ranging between $1,001 and $5,000, minus the initial advance-licensing fee of $100. ‣ Example 1: Total Gross Sales are $1,234 x .10 (10%) = $123.40 - $100 advance- licensing fee = $23.40 due. ‣ Example 2: Total Gross Sales are $2,500 x .10 (10%) = $250 - $100 advance-licensing fee = $150 due. In the event that Licensee’s annual gross sales for the Initial Term or Renewal Period, as applicable, exceed $5,000, Licensee may enter into a ‘local licensee’ agreement with The Collegiate Licensing Company and pay University a royalty of sixteen percent (16%).

ANNUAL LICENSING FEES. An advance-licensing fee of $100 will be charged by the University on an annual basis for gross sales up to $1,000 per year. If gross sales exceed $1,000, additional fees will be applied according to the following schedule: • A ten percent (10%) royalty fee will be required for gross sales ranging between $1,001 and $5,000, minus the initial advance-licensing fee of $100. ‣ Example 1: Total Gross Sales are $1,234 x .10 (10%) = $123.40 - $100 advance- advance-licensing fee = $23.40 due. ‣ Example 2: Total Gross Sales are $2,500 x .10 (10%) = $250 - $100 advance-licensing fee = $150 due. In the event that Licensee’s annual gross sales for the Initial Term or Renewal Period, as applicable, exceed $5,000, Licensee may enter into a ‘local licensee’ agreement with The Collegiate Licensing Company and pay University a royalty of sixteen percent (16%).

ANNUAL LICENSING FEES. An advance-licensing fee of $100 will be charged by the University on an annual basis for gross sales up to $1,000 per year. If gross sales exceed $1,000, additional fees will This amount may be applied according to adjusted pending the following schedule: time frame in which a license is issued. • A ten percent (10%) royalty fee will be required for gross sales ranging between $1,001 and $5,000, minus the initial advance-licensing fee of $100. ‣ Example 1: Total Gross Sales are $1,234 x .10 (10%) = $123.40 - $100 advance- licensing fee = $23.40 due. ‣ Example 2: Total Gross Sales are $2,500 x .10 (10%) = $250 - $100 advance-licensing fee = $150 due. In the event that Licensee’s annual gross sales for the Initial Term or Renewal Period, as applicable, exceed $5,000, Licensee may enter into a ‘local licensee’ agreement with The Collegiate Licensing Company and pay University a royalty of sixteen percent (16%).