\n 1999 70.0
\n 2000 80.5 15% 56.0 24.5 1.8 2.28%
\n 2001 100.6 25% 64.4 36.2 2.7 2.70%
\n 2002 130.8 30% 80.5 50.3 3.8 2.88%
\n<\/c><\/c><\/c><\/c><\/c><\/c><\/s><\/caption>\n<\/table>\nRoyalty includes minimum guarantee of $1.5 million in year 2000 and 2001.<\/p>\n
The start date for the royalty calculation is January 1, 2000. In the event
\nthat the first product is not completed by June 30, 2000, NewsEdge may cancel
\nthis agreement with no further obligations.<\/p>\n
3.) NewsEdge shall pay hosting costs for the Product equal to $15,000 for the
\n first 2 million pageviews and $3,500 for up to every 1 million pageviews
\n thereafter. At the option of NewsEdge, Elogic will deliver a copy of the
\n Elogic Enterprise Technology as an instillation kit to NewsEdge for hosting
\n at data centers (as many as three anywhere in the world.) In the event that
\n NewsEdge hosts the Elogic Enterprise Technology itself, NewsEdge will not
\n be responsible for any hosting fees.<\/p>\n
4.) The initial term of the agreement will begin on January 1, 2000. NewsEdge
\n will commence paying the minimum $125,000 per month payment and any
\n applicable hosting fees within fifteen (15) days of the end of the month
\n the payment is due. These payments include the work performed by Elogic on
\n NewsEdge’s Workgroups product.<\/p>\n
5.) In the event that NewsEdge Corporation acquires or divests certain
\n offerings the parties will mutually agree on appropriate adjustments to the
\n Royalty Generating Revenue, Enterprise Revenue and Covered Revenue used to
\n calculate royalties.<\/p>\n
6.) The maximum royalty payment is ten million ($10,000,000) dollars. Following
\n the maximum royalty payment, NewsEdge will make maintenance payments of
\n $300,000 per year (a “Maintenance Period”). During a Maintenance Period,
\n NewsEdge will receive all maintenance releases and minor enhancements but
\n no new software modules or major enhancements but no new software modules
\n or major enhancements.<\/p>\n
In the event that either party hereto is acquired, the rights and
\n obligations hereunder shall automatically continue. This term sheet is non-
\n binding on either party; it is intended solely to set forth the material
\n terms of a proposed transaction to be binding only upon entering into the
\n definitive agreements contemplated hereby. This term sheet shall be
\n superceded upon entering into the definitive agreements contemplated
\n hereby.<\/p>\n
Dated January 19, 2000.
\n NewsEdge Corporation
\n \/s\/ Clifford Pollan \/s\/ Ronald Benanto
\n ————————————————————————–
\n Signature of authorized officer
\n By: Clifford Pollan By: Ronald Benanto
\n —————– —————-
\n Title: President Title: Vice President
\n ———– —————-<\/p>\n
Elogic Corporation
\n \/s\/ Bill Nash
\n —————————————————————————
\n Signature of authorized officer
\n By: Bill Nash
\n ———–
\n Title: CEO
\n —–<\/p>\n
AMENDMENT NO. 1 TO NEWSEDGE – ELOGIC ENTERPRISE BUSINESS PARTNERSHIP TERM SHEET
\n——————————————————————————-<\/p>\n
The parties previously entered into that certain NewsEdge – Elogic Enterprise
\nBusiness Partnership Term Sheet, dated January 19, 2000 (the “Term Sheet”).<\/p>\n
The parties now wish to amend the Term Sheet to make it binding on the parties.<\/p>\n
Therefore, the parties agree that the Term Sheet is hereby amended to delete the
\npenultimate sentence of the Term Sheet, and to replace such sentence with the
\nfollowing sentence.<\/p>\n
“THIS TERM SHEET IS THE ENTIRE AGREEMENT BETWEEN THE PARTIES RELATING
\n TO THE SUBJECT MATTER HEREOF AND IS INTENDED TO BE BINDING ON BOTH
\n PARTIES UNTIL A LONG-FORM AGREEMENT IS ENTERED INTO BY THE PARTIES.”<\/p>\n
All other terms of the Term Sheet shall remain in effect.<\/p>\n
The parties hereby enter into this Amendment No. 1 as of March 23, 2000.<\/p>\n
NewsEdge Corporation<\/p>\n
\/s\/ Clifford Pollan
\n———————
\nSignature of authorized officer<\/p>\n
By: Clifford Pollan
\n —————–<\/p>\n
Title: CEO
\n —–<\/p>\n
Elogic Corporation<\/p>\n
\/s\/ Bill Nash
\n—————
\nSignature of authorized officer<\/p>\n
By: Bill Nash
\n ———–<\/p>\n
Title: CEO
\n —–<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8351],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9613,9616],"class_list":["post-42115","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-newsedge-corp","corporate_contracts_industries-technology__programming","corporate_contracts_types-operations","corporate_contracts_types-operations__ip"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/42115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=42115"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=42115"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=42115"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=42115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}