Exhibit 6(iii)
MidiMan License
LICENSE AGREEMENT
THIS LICENSE AGREEMENT ("Agreement") made this 20th day of November 1991,
by and between QRS Music Rolls, Inc. of 0000 Xxxxxxx Xxxxxx, Xxxxxxx, Xxx Xxxx
00000 ("Licensee") and MIDIMAN of 00 Xxxxx Xxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxx,
XX 00000 ("Licensor").
WHEREAS, Licensor has designed and developed a M.I.D.I. to Analog signal
processing technology known as MIDIMAN and Licensee agrees to buy a worldwide
license to incorporate, manufacture and sell this technology in the following,
specific QRS products: Acoustic and or Electric Pianos.
GRANT OF LICENSE. The grant from Licensor to Licensee shall be an exclusive
grant of the rights provided for herein during the term of this agreement.
PAYMENTS. The Licensee agrees to pay the Licensor the total sum of $20,000.
The following payment schedule is agreed upon by both the Licensor and the
Licensee. $3,000 upon acceptance of this contract, and $1,545.45 to be paid on
the 1st of each month thereafter, starting January 1, 1992 and continuing for a
total of 11 consecutive months.
TERMS OF AGREEMENT.
1. Once the last payment is made by Licensee, the rights to use the
MIDIMAN technology, in the specific products described, are wholly owned by
Licensee.
2. As part of the license agreement Licensee is to receive MIDIMAN MIDI
to audio systematic, firmware, and engineering assistance for up to ten hours at
o additional chare. If further engineering help is required, MIDIMAN agrees to
furnish it, at the rate of $50.00 per hour.
Signed
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MIDIMAN QRS
68
