License Agreement
This License Agreement dated February 29, 2012
BETWEEN:
Cigar & Spirits Magazine
949-716-5156
(The 'Licensor')
and
Innovative Product Opportunities Inc.
000-000-0000
(The 'Licensee')
The licensor has agreed to grant the Licensee the right to market the products
of the Licensor as well as the right of use of the products of the Licensor
including but not limited to the sales, promotion and advertising vehicles.
The Licensee has the right to use any and all trade names of the Licensor
including but not limited to 'Cigars and Spirits' 'C&S' 'Cigars and Spirits
Tasting Club' & 'CST'.
Duration- the duration of this agreement shall be for a period of Twelve
months commencing on March 1 2012 and thereafter on a month-by-month basis
unless sooner terminated by the Licensor as provided for in this agreement.
License Fee- The Licensee will pay to the Licensor, without and deduction,
abatement or setoff whatsoever, a fee equal to 1.5% of all sales generated
plus a 1.5% management fee based on the total monies paid for employee
salaries, benefits and commissions. Said fees to be paid within
forty-five days following the closing of each month's sales activities.
Termination- The licensor may at any time in it's sole discretion, with
sixty (60) days prior notice terminate this agreement and revoke the
license granted herein for any reason whatsoever and upon such termination
the Licensee shall immediately stop the use of the liscencors Trade Names
as described above.
Entire Agreement- This agreement contains all the obligations,
representations And warranties in respect of the Licensed Facilities and
the entire agreement between the parties concerning the subject matter of
this agreement .The Licensee expressly disclaims reliance on any promises,
inducements, representations, warranties, collateral agreements or conditions
in entering into this agreement other as expressly set out in this agreement.
Time is of the essence of this Agreement. This Agreement shall be governed by
and construed in accordance with the laws of the State of California.
Licensor: Licensee:
Cigars and xxxxxxx.xxx Innovative Product Opportunities Inc.
Per /s/ Xxxxxxx Xxxxx Per /s/ Xxxx Xxxxx
Xxxxxxx Xxxxx Xxxx Xxxxx
