Option for Non-Exclusive, Royalty Free License. Sponsor will pay University an Upfront Fee of ten percent (10%) of the total Contract Price or ten thousand dollars ($10,000), whichever is greater. The University grants to Sponsor a non-exclusive, royalty-free, non-sublicensable worldwide license under and to the University’s rights in the Subject Invention and Copyrightable Materials. The Sponsor will have the option to negotiate an exclusive license under and to the University’s patent rights relevant to the practice and/or sublicensing of the Subject Invention and any Copyrightable Materials on commercially reasonable terms.
Option for Non-Exclusive, Royalty Free License. C.1 Upfront fee for Non-Exclusive License. Sponsor will pay University an Upfront Fee of either ten percent (10%) of the total Contract Price or ten thousand dollars ($10,000), whichever is greater. This fee will be paid in accordance with Section C.3 at the time of execution of the Agreement and at the time of each funded modification, regardless of whether any Subject Invention or Copyrightable Material results. In the event the Sponsor pays ten thousand dollars ($10,000), no additional fees will be due under this Section C.1 until the cumulative obligated funding under the Agreement exceeds one hundred thousand dollars ($100,000). In consideration, University grants to Sponsor a non-exclusive, royalty-free, non-sublicensable worldwide license under and to the University’s rights in the Subject Invention and Copyrightable Materials.
