FAITH CONNEXION License Terms
FAITH
CONNEXION
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Purpose:
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To
enter into a license agreement for the purposes of exploiting the
Faith
Connexion trademark (the “Mark”) in International Class 025 in the
Territory.
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Parties:
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Faith
Connexion S.A.R.L., French corporation
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Blue
Holdings, Inc., a Nevada corporation
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Term:
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3
years, with a first year of 18 months and a second year of 6
months
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Territory:
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The
entire North American and South American continents, Japan and
Korea
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Royalty:
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Year
1
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9%
Net Sales
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Year
2
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9%
Net Sales
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Year
3
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9.5%
Net Sales
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Minimum
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Royalties:
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Year
1
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$450,000
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Year
2
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$315,000
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Year
3
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$950,000
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Minimum
Net
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Year
1
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$5.0
million
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Sales:
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Year
2
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$3.5
million
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Year
3
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$10
million
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Marketing
&
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Promotion:
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Licensee
is obligated to invest in advertising, marketing and promotion a
sum
equivalent to 3% of the actual net sales
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Distribution:
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Specialty
boutiques and better department stores
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Design:
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All
designs to be created by Licensor.
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Manufacturing:
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Licensee
shall be entitled to procure manufacturing through Licensor’s sources, or
to request tech packs from Licensor and source its own manufacturing,
subject to Licensor’s reasonable approval.
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Sales:
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Licensee
is responsible for all costs associated with selling the licensed
products
in the territory, including salaries, commissions, trade show and
showroom
expenses.
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