Profit Sharing in Lieu of Royalties Sample Clauses

Profit Sharing in Lieu of Royalties. If Licensor elects to exercise the Licensor Co-Promotion Option, then during the Co-Promotion Period Licensor shall not be entitled to any royalty payments pursuant to Section 7.2 with respect to Net Sales of the Licensed Product in Europe recorded from and after the Co-Promotion Exercise Date. In lieu of such royalties, during the Co-Promotion Period Licensor and Licensee shall divide the Pre-tax Net Profit from Net Sales of Licensed Products in Europe on a fifty/fifty basis. 5.5 Americas/Europe Commercialization Plan after Exercise of Co-Promotion Option. During the Co-Promotion Period, while Licensee shall maintain overall authority for the Commercialization of the Licensed Products in Europe, the Americas/Europe Commercialization Plan shall include mutually agreed upon obligations on the part of Licensor to provide specified levels of personnel and resources in specific countries within Europe to assist Licensee in the Commercialization of the Licensed Products, as well as coordination of promotional materials used by each Party. In any event, during the Co-Promotion Period Licensor shall have the right, on a Licensed Product-by-Licensed Product basis, to provide up to 50% of the Details in each of the EU5 Countries, Denmark, Norway and Sweden, and a lesser percentage of Details in other European countries; provided, that, on the Co-Promotion Exercise Date, Licensor has established, or is then planning in connection with another product at a similar stage of development to establish, prior to launch of the first Licensed Product in any such country, an organization having a sufficient number of sales representatives to conduct such Detailing activities.
Sample 1
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Profit Sharing in Lieu of Royalties. If Licensor elects to exercise the Licensor Co-Promotion Option, then during the Co-Promotion Period Licensor shall not be entitled to any royalty payments pursuant to Section 7.2 with respect to Net Sales of the Licensed Product in Europe recorded from and after the Co-Promotion Exercise Date. In lieu of such royalties, during the Co-Promotion Period Licensor and Licensee shall divide the Pre-tax Net Profit from Net Sales of Licensed Products in Europe on a fifty/fifty basis.
Sample 1

Related to Profit Sharing in Lieu of Royalties

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Earned Royalties Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and [*****] of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). The Royalties shall be remitted in accordance with Section 7.4 of this Agreement. 6.2

  • Payment of Royalties To the best of Seller’s knowledge, all royalties and in-lieu royalties with respect to the Assets which accrued or are attributable to the period prior to the Effective Time have been properly and fully paid, or are included within the suspense amounts being conveyed to Buyer pursuant to Section 11.4.

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Sublicense Income Company shall pay Medical School {***} of all Sublicense Income. Such amounts shall be due and payable within sixty (60) days after Company receives the relevant payment from the Sublicensee.

  • Royalties 1. Royalties arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.

  • Single Royalty Only a single royalty payment shall be due and payable on Net Sales of a Licensed Product or performance of a Licensed Service, regardless if such Licensed Product or Licensed Service is Covered by more than one Valid Claim.

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