Compensation to Licensor. As compensation for the license ------------------------ herein granted to Licensee, Licensee agrees to make the following payments to Licensor:
Compensation to Licensor. (a) VoodooBeat hereby agrees to pay to Licensor, as provided in Section 11 below, fifty percent (50%) of the amount of any license use fee (“License Fee”) received by VoodooBeat with respect to any license granted by VoodooBeat or its agent for the use of a particular Master and Composition, with the amount to be charged to a given User to be determined by VoodooBeat in its sole discretion. For the avoidance of doubt, fees paid by Users in connection with research and music supervision shall not be deemed part of the license fee.
Compensation to Licensor. As compensation for the performance of Licensor's obligations hereunder, Licensee agrees to pay Licensor a royalty of the greater of (a) 15% of gross sales of the Tapes after Licensee has recouped all expenses incurred in connection with the marketing and sale of the Tapes (expenses shall not exceed $750,000), or (b) 50% of net income from sales of the Tapes. For purposes of this Agreement, the term "Net Income" shall be defined as gross income from Tape sales by Licensee, less all returns and allowances, and less all expenses reasonably related to the marketing, sale and distribution of the Tapes. Provided, however, payments of compensation to Licensee shall not be deemed an "expense" in the calculation of "net income."
Compensation to Licensor. As compensation for the performance of Licensor's obligations hereunder, Licensee agrees to pay Licensor a royalty of 50% of net income from sales of the Tapes. For purposes of this Agreement, the term "Net Income" shall be defined as gross income from Tape sales by Licensee, less all returns and allowances, and less all expenses reasonably related to the marketing, sale and distribution of the Tapes (including but not limited to advertising, media costs, product costs, shipping and processing fees, media buying fees, telemarketing fees, merchant account costs and fees, assembly and fulfillment, database processing, customer service, insurance and infomercial production costs and tests and amounts paid to third party distributors, whether such amounts are paid directly to a third party or are paid to a third party through the medium of a joint venture or partnership). Provided, however, payments of compensation to Licensee shall not be deemed an "expense" in the calculation of "net income"; but general and administrative expenses (including but not limited to legal and accounting fees, telephone and travel) shall be deemed an "expense" provided that such general and administrative expenses for each period do not exceed two percent (2%) of gross sales for such period. For purposes of this determination, "Net Income" shall be computed on the cash basis of accounting.
Compensation to Licensor. In consideration of the ongoing business transferred, and the rights granted, by Licensor to UK Licensee and Comfort Group under this Agreement, UK Licensee shall pay to Licensor (or, in the case of the One Hundred Thousand Dollars ($100,000.00) payment referenced in Section 11(a)(i) below, to R.G. Barry International, Inc.) the following compensation:
(x) Xx xnitial license and business transfer fee (the "Initial License Fee") in the total amount of Three Hundred Thousand Dollars ($300,000.00) made up of two components: (i) One Hundred Thousand Dollars ($100,000.00) attributable to the transfer of the business in France, as described in Section 2(c) hereof, with such amount due and payable to International on the one hundred fiftieth (150th) day after the Effective Date hereof; and (ii) Two Hundred Thousand Dollars ($200,000.00) attributable to the transfer hereunder of the business located outside of France, with such amount due and payable to Licensor in two payments - the first payment of One Hundred Thousand Dollars ($100,000.00) on the date of UK Licensee's execution of this Agreement and the second payment of One Hundred Thousand Dollars ($100,000.00) on the three hundred thirtieth (330th) day after the Effective Date hereof. The Initial License Fee shall be fully earned upon execution of this Agreement. All amounts and payments of the Initial License Fee shall be paid by UK Licensee to Licensor (or, in the case of the One Hundred Thousand Dollars ($100,000.00) payment referenced in Section 11(a)(i) above, to R.G. Barry International, Inc.) by bank or certified check or by elexxxxxxx xxnds transfer.
(b) For the period commencing on June 1, 2003 and ending on May 31, 2004 (the "First Royalty Year"), UK Licensee shall pay to Licensor a royalty fee (the "Royalty Fee") equal
Compensation to Licensor. 3.1 In consideration of the rights granted and the services to be performed by LICENSOR hereunder, LICENSEE shall pay to LICENSOR during each CONTRACTUAL YEAR or part thereof in accordance with this Section 3 a royalty of [———————]1 of the NET SALES of all PRODUCTS sold in such CONTRACTUAL YEAR. In any event, LICENSEE undertakes to pay to LICENSOR the MINIMUM GUARANTEED ROYALTIES set forth under Section 3.2 hereunder. For the avoidance of doubt, it is expressly accepted and confirmed by the LICENSEE that the aforesaid royalty shall also be paid on the NET SALES of PRODUCTS sold to LICENSOR.
3.2 LICENSEE agrees to pay the following MINIMUM GUARANTEED ROYALTIES to LICENSOR to be paid in (4) equal instalments in each CONTRACTUAL YEAR (“CY”) in accordance with Section 3.3 below: CY 1 Commencement Date to Dec 31 2016 [———————]2 CY 2 Jan 1 to Dec 31 2017 [———————]3 CY 3 Jan 1 to Dec 31 2018 [———————]4 CY 4 Jan 1 to Dec 31 2019 [———————]5 CY 5 Jan 1 to Dec 31 2020 [———————]6 The MINIMUM GUARANTEED ROYALTIES for each CY from CY 6 (beginning on January 1, 2021) to CY 10 (ending on 31 December 2025) will be agreed upon between the parties no later than November 30th, 2020. In any event, if no agreement on the MINIMUM GUARANTEED ROYALTIES is reached by November 30th, 2020, the MINIMUM GUARANTEED ROYALTIES payable by LICENSEE for each of CY 6 to CY 10 shall be (i) [———————]7, or (ii) [—]8 of the royalties payable by LICENSEE pursuant to Section 3.1 in relation to the NET SALES achieved in CY 5, whichever is the higher.
Compensation to Licensor. 12 (A) Territory Fee.........................................................................12 (B)
Compensation to Licensor. Atari shall pay Licensor the compensation (the “Compensation”) as defined in and as and when set forth in the Compensation Schedule (Exhibit D). For amounts associated with Licensor’s completion of a Milestone, Atari may withhold the entire amount if Atari has not accepted the associated Milestone as completed under the terms of Section 2.1. Any amounts withheld shall be released to Licensor if and when all Milestone development is current or with the payment due on Final Acceptance, whichever occurs sooner, provided that this Agreement has not as of such time been canceled or terminated.
Compensation to Licensor. A. Section 4(A)(ii) of the License Agreement is amended to change "March 31, 1999" to "December 15, 1999".
B. The second sentence of Section 4(A) of the License Agreement is deleted. "Except as provided in the preceding sentence," is hereby deleted from the last sentence of Section 4(A) of the License Agreement.
C. Section 4(B) of the License Agreement is amended to change "five percent (5%)" to "three percent (3%)". Further, the following shall be added to section 4(B) of the License Agreement: "In no event shall this Section be construed so as to allow Licensor to share in any revenue generated by the Licensee's gaming operations at the Hotel/Casino."
Compensation to Licensor
