Exhibit 2(k)(4)
LICENSE AGREEMENT
LICENSE AGREEMENT, dated as of October 17, 2002 (the "Commencement Date")
by and between STANDARD & POOR'S, a division of The XxXxxx-Xxxx Companies, Inc.
("S&P"), a New York corporation, having an office at 00 Xxxxx Xxxxxx, Xxx Xxxx,
XX 00000-0000, and SENTRY SELECT CAPITAL CORP.("Licensee"), an Ontario
corporation having an office at The Exchange Tower, 000 Xxxx Xxxxxx Xxxx, Xxxxx
0000, Xxxxxxx, Xxxxxxx, Xxxxxx X0X 0X0.
WHEREAS, S&P compiles, calculates, maintains and owns rights in and to the
S&P 100 Composite Stock Price Index and to the proprietary data therein
contained (such rights being hereinafter individually and collectively referred
to as the "S&P 100 Index"); and
WHEREAS, S&P uses in commerce and has trade name and trademark rights to
the designations "Standard & Poor's(R)", "S&P(R)", "S&P 100(R)", and "Standard &
Poor's 100 Index", in connection with the S&P 100 Index (such rights being
hereinafter individually and collectively referred to as the "S&P Marks"); and
WHEREAS, Licensee wishes to use the S&P 100 Index as a component of the
product or products described in Exhibit A attached hereto and made a part
hereof (individually and collectively referred to as the "Product"); and
WHEREAS, Licensee wishes to use the S&P Marks in connection with the
marketing and/or promotion of the Product and in connection with making
disclosure about the Product under applicable law, rules and regulations in
order to indicate that S&P is the source of the S&P 100 Index; and
WHEREAS, Licensee wishes to obtain S&P's authorization to use the S&P 100
Index and the S&P Marks in connection with the Product pursuant to the terms and
conditions hereinafter set forth.
NOW, THEREFORE, the parties hereto agree as follows:
1. Grant of License.
(a) Subject to the terms and conditions of this Agreement, S&P hereby
grants to Licensee a non-transferable, non-exclusive license (i) to use the S&P
100 Index as a component of the Product to be marketed and/or promoted by
Licensee and (ii) to use and refer to the S&P Marks in connection with the
distribution, marketing and promotion of the Product (including in the name of
the Product) and in connection with making such disclosure about the Product as
Licensee deems necessary or desirable under any applicable law, rules,
regulations or provisions of this Agreement, but, in each case, only to the
extent necessary to indicate the source of the S&P 100 Index. It is expressly
agreed and understood by Licensee that no rights to use the S&P 100 Index and
the S&P Marks are granted hereunder other than those specifically described and
expressly granted herein.
(b) S&P agrees that no person or entity (other than the Licensee)
shall need to obtain a license from S&P with respect to the Product.
2. Term.
The term of this Agreement shall commence on the Commencement Date and
shall continue in effect thereafter until it is terminated in accordance with
its terms.
3. License Fees.
(a) Licensee shall pay to S&P the license fees ("License Fees")
specified and provide the data called for in Exhibit B, attached hereto and made
a part hereof.
(b) During the term of this Agreement and for a period of one (1) year
after its termination, S&P shall have the right, during normal business hours
and upon reasonable notice to Licensee, to audit on a confidential basis the
relevant books and records of Licensee to determine that License Fees have been
accurately determined. The costs of such audit shall be borne by S&P unless it
determines that it has been underpaid by five percent (5%) or more; in such
case, costs of the audit shall be paid by Licensee.
4. Termination.
(a) At any time during the term of this Agreement, either party may
give the other party sixty (60) days prior written notice of termination if the
terminating party believes in good faith that material damage or harm is
occurring to the reputation or goodwill of that party by reason of its continued
performance hereunder, and such notice shall be effective on the date specified
therein of such termination, unless the other party shall correct the condition
causing such damage or harm within the notice period.
(b) In the case of breach of any of the material terms or conditions
of this Agreement by either party, the other party may terminate this Agreement
by giving sixty (60) days prior written notice of its intent to terminate, and
such notice shall be effective on the date specified therein for such
termination unless the breaching party shall correct such breach within the
notice period.
(c) S&P shall have the right, in its sole discretion, to cease
compilation and publication of the S&P 100 Index and, in such event, to
terminate this Agreement if S&P does not offer a replacement or substitute
index. In the event that S&P intends to discontinue the S&P 100 Index, S&P shall
give Licensee at least one (1) year's written notice prior to such
discontinuance, which notice shall specify whether a replacement or substitute
index will be made available.
Licensee shall have the option hereunder within sixty (60) days after
receiving such written notice from S&P to notify S&P in writing of its intent to
use the replacement or substitute index, if any, under the terms of this
Agreement. In the event that Licensee does not exercise such option or no
substitute or replacement index is made available, this Agreement shall be
terminated as of the date specified in the S&P notice and the License Fees to
the date of such termination shall be computed and refunded as provided in
Subsection 4(f).
(d) Licensee may terminate this Agreement upon ninety (90) days prior
written notice to S&P if (i) Licensee is informed of the final adoption of any
legislation or regulation or the issuance of any interpretation that in
Licensee's reasonable judgment materially impairs Licensee's ability to market
and/or promote the Product; (ii) any material litigation or regulatory
proceeding regarding the Product is threatened or commenced; or (iii) Licensee
elects to terminate the public offering or other distribution of the Product, as
may be applicable. In such event the License Fees to the date of such
termination shall be computed and refunded as provided in Subsection 4(f).
(e) S&P may terminate this Agreement upon ninety (90) days (or upon
such lesser period of time if required pursuant to a court order) prior written
notice to Licensee if (i) S&P is informed of the final adoption of any
legislation or regulation or the issuance of any interpretation that in S&P's
reasonable judgment materially impairs S&P's ability to license and provide the
S&P 100 Index and S&P Marks under this Agreement in connection with such
Product;
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or (ii) any litigation or proceeding is threatened or commenced and S&P
reasonably believes that such litigation or proceeding would have a material and
adverse effect upon the S&P Marks and/or the S&P 100 Index or upon the ability
of S&P to perform under this Agreement. In such event the License Fees to the
date of such termination shall be computed and refunded as provided in
Subsection 4(f).
(f) In the event of termination of this Agreement as provided in
Subsections 4(a), (b), (c), (d) or (e), the License Fees to the date of such
termination shall be computed by prorating the amount of the applicable License
Fees shown in Exhibit B on the basis of the number of elapsed days in the
current term.
(g) Upon termination of this Agreement, Licensee shall cease to use
the S&P 100 Index and the S&P Marks in connection with the Product; provided
that Licensee may continue to utilize any previously printed materials which
contain the S&P Marks for a period of ninety (90) days following such
termination.
5. S&P's Obligations.
(a) It is the policy of S&P to prohibit its employees
who are directly responsible for changes in the components of the S&P 100 Index
from purchasing or beneficially owning any interest in the Product and S&P
believes that its employees comply with such policy. Licensee shall have no
responsibility for ensuring that such S&P employees comply with such S&P policy
and shall have no duty to inquire whether any investors or sellers of the
Product are such S&P employees. S&P shall have no liability to the Licensee with
respect to its employees' adherence or failure to adhere to such policy.
(b) S&P shall not and is in no way obliged to engage in any marketing
or promotional activities in connection with the Product or in making any
representation or statement to investors or prospective investors in connection
with the promotion by Licensee of the Product.
(c) S&P agrees to provide reasonable support for Licensee's
development and educational efforts with respect to the Product as follows: (i)
S&P shall provide Licensee, upon request but subject to any agreements of
confidentiality with respect thereto, copies of the results of any marketing
research conducted by or on behalf of S&P with respect to the S&P 100 Index; and
(ii) S&P shall respond in a timely fashion to any reasonable requests for
information by Licensee regarding the S&P 100 Index.
(d) S&P or its agent shall calculate and disseminate the S&P 100 Index
at least once each fifteen (15) seconds in accordance with its current
procedures, which procedures may be modified by S&P.
(e) S&P shall promptly correct or instruct its agent to correct any
mathematical errors made in S&P's computations of the S&P 100 Index which are
brought to S&P's attention by Licensee, provided that nothing in this Section 5
shall give Licensee the right to exercise any judgment or require any changes
with respect to S&P's method of composing, calculating or determining the S&P
100 Index; and, provided further, that nothing herein shall be deemed to modify
the provisions of Section 9 of this Agreement.
6. Informational Materials Review.
Licensee shall use all reasonable efforts to protect the goodwill and
reputation of S&P and of the S&P Marks in connection with its use of the S&P
Marks under this Agreement.
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Licensee shall submit to S&P for its review and approval a single copy of all
informational materials pertaining to and to be used in connection with the
Product, including, where applicable, all prospectuses, plans, registration
statements, application forms, publicly-accessible contracts, videos, internet
sites, electronic commerce, advertisements, brochures and promotional and any
other similar informational materials (including documents required to be filed
with governmental or regulatory agencies) that in any way use or refer to S&P,
the S&P 100 Index, or the S&P Marks (the "Informational Materials"). S&P's
approval shall be required with respect to the use of and description of S&P,
the S&P Marks and the S&P 100 Index and shall not be unreasonably withheld or
delayed by S&P. Specifically, S&P shall notify Licensee of its approval or
disapproval of any Informational Materials within forty-eight (48) hours
(excluding Saturday, Sunday and New York Stock Exchange Holidays) following
receipt thereof from Licensee. Any disapproval shall indicate S&P's reasons
therefor. Any failure by S&P to respond within such forty-eight (48) hour period
shall be deemed to constitute a waiver of S&P's right to review such
Informational Materials.
Informational Materials shall be addressed to S&P, c/o Xxxxxx Xxxxxxxxxx,
Specialist - Index Licensing/Marketing, Equity Index Services, at the address
specified in Subsection 12(d). Informational Materials may be submitted via
facsimile (to 000-000-0000 or 000-000-0000) if they are less than 20 pages and
legible after transmission. Once Informational Materials have been approved by
S&P, subsequent Informational Materials which do not alter the use or
description of S&P, the S&P Marks or the S&P 100 Index need not be submitted for
review and approval by S&P.
7. Protection of Value of License.
(a) During the term of this Agreement, S&P shall use all reasonable
efforts to maintain in full force and effect federal registrations for "Standard
& Poor's(R)", "S&P(R)", and "S&P 100(R)". S&P shall at S&P's own expense and
sole discretion exercise S&P's common law and statutory rights against
infringement of the S&P Marks, copyrights and other proprietary rights.
(b) Licensee shall cooperate with S&P in the maintenance of such
rights and registrations and shall, at S&P's expense, take such actions and
execute such instruments as S&P may from time to time reasonably request, and
shall use the following notice when referring to the S&P 100 Index or the S&P
Marks in any Informational Material:
"Standard & Poor's(R)", "S&P(R)", "S&P 100(R)", and "Standard & Poor's
100 Index" are trademarks of The XxXxxx-Xxxx Companies, Inc. and have
been licensed for use by Sentry Select Capital Corp. The Product is
not sponsored, endorsed, sold or promoted by Standard & Poor's and
Standard & Poor's makes no representation regarding the advisability
of investing in the Product.
or such similar language as may be approved in advance by S&P, it being
understood that such notice need only refer to the specific S&P Marks referred
to in the Informational Material.
8. Proprietary Rights.
(a) Licensee acknowledges that the S&P 100 Index is selected,
coordinated, arranged and prepared by S&P through the application of methods and
standards of judgment used and developed through the expenditure of considerable
work, time and money by S&P. Licensee also acknowledges that the S&P 100 Index
and the S&P Marks are the exclusive property of S&P, that S&P has and retains
all proprietary rights therein (including, but not limited to trademarks and
copyrights) and that the S&P 100 Index and its compilation and composition and
changes therein are in the control and discretion of S&P.
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(b) S&P reserves all rights with respect to the S&P 100 Index and the
S&P Marks except those expressly licensed to Licensee hereunder.
(c) Each party shall treat as confidential and shall not disclose or
transmit to any third party any documentation or other written materials that
are marked as "Confidential and Proprietary" by the providing party
("Confidential Information"). Confidential Information shall not include (i) any
information that is available to the public or to the receiving party hereunder
from sources other than the providing party (provided that such source is not
subject to a confidentiality agreement with regard to such information), (ii)
any information that is independently developed by the receiving party without
use of or reference to information from the providing party or (iii) any
information that becomes known to the receiving party by lawful means.
Notwithstanding the foregoing, either party may reveal Confidential Information
to any regulatory agency or court of competent jurisdiction if such information
to be disclosed is (a) approved in writing by the other party for disclosure or
(b) required by law, regulatory agency or court order to be disclosed by a
party, provided, if permitted by law, that prior written notice of such required
disclosure is given to the other party and provided further that the providing
party shall cooperate with the other party to limit the extent of such
disclosure. The provisions of this Subsection 8(c) shall survive any termination
of this Agreement for a period of five (5) years from disclosure by either party
to the other of the last item of such Confidential Information.
9. Warranties; Disclaimers.
(a) S&P represents and warrants that S&P has the right to grant the
rights granted to Licensee herein and that the license granted herein shall not
infringe any trademark, copyright or other proprietary right of any person not a
party to this Agreement.
(b) Licensee agrees expressly to be bound itself by and furthermore to
include all of the following disclaimers and limitations in each prospectus or
each Statement of Additional Information ("SAI") relating to the Product,
provided the SAI is incorporated by reference into the prospectus and the
prospectus contains disclosure regarding the S&P 100 Index that conforms to the
notice in Subsection 7(b), including a cross reference to the SAI disclosure.
Licensee shall furnish a copy of the prospectus and, if applicable, the SAI, to
S&P:
The Product is not sponsored, endorsed, sold or promoted by Standard &
Poor's, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P"). S&P makes no
representation or warranty, express or implied, to the owners of the Product or
any member of the public regarding the advisability of investing in securities
generally or in the Product particularly or the ability of the S&P 100 Index to
track general stock market performance. S&P's only relationship to the Licensee
is the licensing of certain trademarks and trade names of S&P and of the S&P 100
Index which is determined, composed and calculated by S&P without regard to the
Licensee or the Product. S&P has no obligation to take the needs of the Licensee
or the owners of the Product into consideration in determining, composing or
calculating the S&P 100 Index. S&P is not responsible for and has not
participated in the determination of the prices and amount of the Product or the
timing of the issuance or sale of the Product or in the determination or
calculation of the equation by which the Product is to be converted into cash.
S&P has no obligation or liability in connection with the administration,
marketing or trading of the Product.
S&P DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE S&P
100 INDEX OR ANY DATA INCLUDED THEREIN AND S&P SHALL HAVE NO LIABILITY FOR ANY
ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. S&P MAKES NO WARRANTY, EXPRESS OR
IMPLIED, AS
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TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT, OR ANY OTHER
PERSON OR ENTITY FROM THE USE OF THE S&P 100 INDEX OR ANY DATA INCLUDED THEREIN.
S&P MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH
RESPECT TO THE S&P 100 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY
OF THE FOREGOING, IN NO EVENT SHALL S&P HAVE ANY LIABILITY FOR ANY SPECIAL,
PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF
NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
Any changes in the foregoing disclaimers and limitations must be
approved in advance in writing by an authorized officer of S&P.
(c) Each party represents and warrants to the other that it has the
authority to enter into this Agreement according to its terms and that its
performance does not violate any laws, regulations or agreements applicable to
it.
(d) Licensee represents and warrants to S&P that the Product shall at
all times comply with the description in Exhibit A.
(e) Licensee represents and warrants to S&P that the Product shall not
violate any applicable law, including but not limited to banking, commodities
and securities laws.
(f) Neither party shall have any liability for lost profits or
indirect, punitive, special, or consequential damages arising out of this
Agreement, even if notified of the possibility of such damages. Without
diminishing the disclaimers and limitations set forth in Subsection 9(b), in no
event shall the cumulative liability of S&P to Licensee exceed the average
annual License Fees actually paid to S&P hereunder.
(g) Use of any marks by Licensee in connection with its Product
(including in the name of such Product) which are not the S&P Marks is at
Licensee's sole risk.
(h) The provisions of this Section 9 shall survive any termination of
this Agreement.
10. Indemnification.
(a) Licensee shall indemnify and hold harmless S&P, its affiliates and
their officers, directors, employees and agents against any and all judgments,
damages, costs or losses of any kind (including reasonable attorneys' and
experts' fees) as a result of any claim, action, or proceeding that is brought
against S&P that arises out of or relates to (a) Licensee's breach of this
Agreement or (b) the Product; provided, however, that S&P notifies Licensee
promptly of any such claim, action or proceeding. Licensee shall periodically
reimburse S&P for its reasonable expenses incurred under this Subsection 10(a).
S&P shall have the right, at its own expense, to participate in the defense of
any claim, action or proceeding against which it is indemnified hereunder;
provided, however, it shall have no right to control the defense, consent to
judgment, or agree to settle any such claim, action or proceeding without the
written consent of Licensee without waiving the indemnity hereunder. Licensee,
in the defense of any such claim, action or proceeding except with the written
consent of S&P, shall not consent to entry of any judgment or enter into any
settlement which either (a) does not include, the grant by the claimant to S&P
of a release of all liabilities in respect of such claims or (b) otherwise
adversely affects the rights of S&P. This provision shall survive the
termination or expiration of this Agreement.
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(b) S&P shall indemnify and hold harmless Licensee, its affiliates and
their officers, directors, employees and agents against any and all judgments,
damages, costs or losses of any kind (including reasonable attorneys' and
experts' fees) as a result of any claim, action, or proceeding that arises out
of or relates to any breach by S&P of its representations or warranties under
this Agreement; provided, however, that (a) Licensee notifies S&P promptly of
any such claim, action or proceeding; (b) Licensee grants S&P control of its
defense and/or settlement; and (c) Licensee cooperates with S&P in the defense
thereof. S&P shall periodically reimburse Licensee for its reasonable expenses
incurred under this Subsection 10(b). Licensee shall have the right, at its own
expense, to participate in the defense of any claim, action or proceeding
against which it is indemnified hereunder; provided, however, it shall have no
right to control the defense, consent to judgment, or agree to settle any such
claim, action or proceeding without the written consent of S&P without waiving
the indemnity hereunder. S&P, in the defense of any such claim, action or
proceeding, except with the written consent of Licensee, shall not consent to
entry of any judgment or enter into any settlement which either (a) does not
include, the grant by the claimant to Licensee of a release of all liabilities
in respect of such claims or (b) otherwise adversely affects the rights of
Licensee. This provision shall survive the termination or expiration of this
Agreement.
11. Suspension of Performance.
Neither S&P nor Licensee shall bear responsibility or liability for
any losses arising out of any delay in or interruptions of their respective
performance of their obligations under this Agreement due to any act of God, act
of governmental authority, act of the public enemy or due to war, the outbreak
or escalation of hostilities, riot, fire, flood, civil commotion, insurrection,
labor difficulty (including, without limitation, any strike, or other work
stoppage or slow down), severe or adverse weather conditions, communications
line failure, or other similar cause beyond the reasonable control of the party
so affected.
12. Other Matters.
(a) This Agreement is solely and exclusively between the parties
hereto and shall not be assigned or transferred by either party, without prior
written consent of the other party, and any attempt to so assign or transfer
this Agreement without such written consent shall be null and void.
(b) This Agreement constitutes the entire agreement of the parties
hereto with respect to its subject matter and may be amended or modified only by
a writing signed by duly authorized officers of both parties. This Agreement
supersedes all previous agreements between the parties with respect to the
subject matter of this Agreement. There are no oral or written collateral
representations, agreements, or understandings except as provided herein.
(c) No breach, default, or threatened breach of this Agreement by
either party shall relieve the other party of its obligations or liabilities
under this Agreement with respect to the protection of the property or
proprietary nature of any property which is the subject of this Agreement.
(d) Except as set forth in Section 6 hereof with respect to
Informational Materials, all notices and other communications under this
Agreement shall be (i) in writing, (ii) delivered by hand, by registered or
certified mail, return receipt requested, or by facsimile transmission to the
address or facsimile number set forth below or such address or facsimile number
as either party shall specify by a written notice to the other and (iii) deemed
given upon receipt.
Notice to S&P: Standard & Poor's
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00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000-0000
Attn.: Xxxxxx Xxxxxxxx,
Managing Director, Index Services
Fax #: (000) 000-0000
Notice to Licensee: Sentry Select Capital Corp.
The Exchange Tower
000 Xxxx Xxxxxx Xxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxx, Xxxxxx M5X 1A4
Attn: Vice President,
International Business Development
Fax #: (000) 000-0000
Tel #: (000) 000 0000
(e) This Agreement shall be interpreted, construed and enforced in
accordance with the laws of the State of New York.
(f) Each party agrees that in connection with any legal action or
proceeding arising with respect to this Agreement, they will bring such action
or proceeding only in the United States District Court for the Southern District
of New York or in the Supreme Court of the State of New York in and for the
First Judicial Department and each party agrees to submit to the jurisdiction of
such court and venue in such court and to waive any claim that such court is an
inconvenient forum.
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IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the date first set forth above.
SENTRY SELECT CAPITAL CORP. STANDARD & POOR'S
a division of
The XxXxxx-Xxxx Companies, Inc.
-------------------------------- -------------------------------
Name: Name:
Title: Title:
EXHIBIT A
PRODUCT DESCRIPTION
Product: New Colony Investment Trust(the "Product") is a closed-end investment
company whose initial series of units, New Colony Protected Equity Income Fund
(the "Fund") has an investment strategy as follows:
The Fund intends to invest the net proceeds of the offering (less the cost of
the Put Contract described below) in a diversified portfolio consisting
principally of equity securities of companies selected from the S&P 100 Index.
The Fund also proposes to acquire a put option (the "Put Contract") on the S&P
100 Index entitling the Fund to sell a position in the S&P 100 Index equal to
the net proceeds of the offering, at the closing of the offering, in exchange
for an amount equal to the gross proceeds of the offering at the termination of
the Fund (expected to be ten (10) years from the closing of the offering). The
Product may add additional series of units from time to time, with an investment
strategy linked or related to the S&P 100 Index, upon the prior consent of S&P,
which shall not be unreasonably withheld.
The Product specifically excludes shares or any other security, financial
instrument or investment representing an ownership interest in the Product that
can be purchased, sold or otherwise traded on a Secondary Market Facility;
provided, however, that subject to the further proviso below, the shares of the
Fund may be listed on the American Stock Exchange, the New York Stock Exchange
or another U.S. national securities exchange; provided further, however, that
S&P has granted certain exclusive rights to one or more third parties that may
be implicated by continuous trading of shares of the Product and S&P shall
therefore have the right to terminate this Agreement pursuant to subsection 4(a)
hereof in the event that the trading of shares of the Product on a Secondary
Market Facility results in the compromise of such exclusive rights in S&P's
reasonable judgment, it being understood that, given the Fund's existing
investment objectives and strategies as described in its current prospectus, it
is not expected that continuous trading in the shares of the Fund will give rise
to such right to terminate.
As used herein, the term Secondary Market Facility means any entity or
organization that is: (1) subject to regulation as an exchange under applicable
laws, rules or regulations of the country or jurisdiction in which such entity
has a physical presence; or (2) a broker-dealer or other entity or organization
that acts in an exchange-like capacity by virtue of it, as principal or agent,
acting on a regular basis as an intermediary between buyers and sellers of
financial instruments of any type.
EXHIBIT B
LICENSE FEES
Licensee shall pay S&P License Fees computed as follows:
The annual License Fees shall be the greater of $10,000 (the "Minimum Annual
Fee") or two basis points (.0002) of the average daily net assets of the Product
computed quarterly. The Minimum Annual Fee shall be payable on the Commencement
Date and each one-year anniversary thereof. Amounts in excess of the Minimum
Annual Fee shall be paid to S&P within thirty (30) days after the close of each
calendar quarter in which they are incurred; each such payment shall be
accompanied by a statement setting forth the basis for its calculation.
The parties agree that the terms upon which License Fees are calculated pursuant
to this Exhibit B shall be considered "Confidential Information" for purposes of
Subsection 8(c) of this Agreement.
