Installment Payments for Development Clause Samples

Installment Payments for Development. As consideration for the development of the Design Specifications and the discharge of all of WTT's obligations under this Agreement, WTP agrees to pay WTT a fee as follows (the "Development Fee"): (a) For developments related to the service bureau or other business lines of WTT, as requested by WTP, the Development Fee shall be WTT's actual costs of development. WTT shall share with WTP twenty percent (20%) of the profits generated by WTT in licensing such products to offset, but not to exceed, the development costs; (b) For development of WTP Customer-specific products or non-generic products the Development Fee shall be equal to WTT's market rates; (c) For developments related to MeetingsAssist, WTP shall pay one-third of the research and development costs associated with the MeetingsAssist development for the next two (2) years. By January 1, 2002, WTT shall either: i) assign all right, title and interest in and to MeetingsAssist and all developments related thereto to WTP, in which event WTP shall pay WTT market rate for any further development related to MeetingsAssist, or ii) retain title to MeetingsAssist and provide support and hosting for MeetingsAssist at cost plus twenty percent (20%), in which event WTP's obligation to pay any portion of the Meeting Assist research and development costs shall terminate. (d) Notwithstanding the foregoing or anything to the contrary contained elsewhere in this Agreement, all development services provided by WTT to WTP from the Effective Date through December 31, 1999 shall be at no cost to WTP. All development from January 1, 2000 shall be paid for by WTP in accordance with (a) through (c) above. The Development Fee will be paid in installments in accordance with the payment schedule set forth in the Delivery Order, and each installment shall be payable upon completion of each milestone by WTT and acceptance by WTP in accordance with Section 4 hereof. The Development Fees payable hereunder shall be effective for the first five (5) years of the Agreement and shall be renegotiated by the parties prior to the end of year five (5) of the Agreement.