Royality fees

ROYALTY FEES Agreement

In consideration for the rights granted under this License Agreement, Licensee agrees to pay Boem a royalty fee equal to 8% (from August 1st 2023 to February 29th 2024) 5% (from March 1st 2024) of the gross revenue from the sale of physical End Products using the Licensed Asset. The royalty fee excludes shipping costs.

For Monthly Subscriptions:

Licensee shall provide a monthly report to Boem within 7 days of the following month, detailing the number of units sold and the gross revenue generated from the sale of physical End Products using the Licensed Asset. Licensee shall remit the royalty fees within 14 days of the reporting date.

For Annual Subscriptions:

In the case of an annual subscription, Licensee has the option to report and remit royalty fees on a yearly basis. Licensee shall provide an annual report to Boem within 14 days of the end of the subscription year, detailing the total number of units sold and the gross revenue generated from the sale of physical End Products using the Licensed Asset throughout the subscription period. Licensee shall remit the annual royalty fees within 30 days of the reporting date.