Royalty on NET REVENUES. 2.1. In consideration of the license of the DDS IONTOPHORETIC PATENT RIGHTS to IOMED, and subject to the provisions of Article IV paragraphs 2.2. and 2.3, the royalty payable by IOMED to DDS shall be **** percent (****%) on NET REVENUES generated on or after the EFFECTIVE DATE. 2.2. IOMED shall not be required to pay a royalty to DDS in excess of one percent (1%) of NET REVENUES on commercialization of the products listed in Appendix D hereto which, the Parties acknowledge, are presently-marketed products of IOMED. In the event of any dispute relating to the foregoing provisions of this Paragraph, the Parties shall cause such dispute to be arbitrated before an experienced patent attorney. In such event the procedure set forth in Article VIII Paragraph 14 shall to the extent practicable apply to the conduct of such arbitration.
Appears in 4 contracts
Samples: Patent License Agreement (Iomed Inc), Patent License Agreement (Iomed Inc), Patent License Agreement (Iomed Inc)