Section 3.2 Sublicense Revenue. OPEL shall pay to UCONN an amount equal to Thirty percent (30%) of the Sublicense Revenue it receives, for commercial, royalty bearing sublicenses of the Intellectual Property to third parties. Such payments shall be made annually. Notwithstanding the above, within a period of four (4) years from the Effective Date in order to aid OPEL in its financing requirements, OPEL will not be required to share Sublicensing revenue with UCONN that is not based on product sales by sublicensees and is below an aggregate of five million US dollars (US$5,000,000.)
Fj, that 30% they have to pay to uconn, wouldn't happen to be around the 5 mil mark would it? maybe for a deal in the works.
