Guest Designer Program Licensing Agreement
I. GRANT OF LICENSE:
A. Subject to the terms and conditions of this Agreement, Licensor (your name listed below) grants to Licensee (GrogTag) an exclusive license to use the collection of artwork listed below. Licensee may not alter the Artwork in any manner after final approval, unless it obtains the prior written consent of Licensor.
B. The rights granted in this Agreement to Licensee may not be sub-licensed, assigned, or otherwise transferred, in whole or in part, without the prior written consent of Licensor.
II. LICENSE PERIOD: The license granted hereunder shall be in effect for a minimum of six (6) months. After the license period of 6 months, the license continues on a day-by-day basis until he Licensee (GrogTag) removes such artwork, and/or the artist requests to have their items removed and regain control of their artwork.
A. Licensee agrees to pay Licensor a non-refundable royalty of ten percent (10%) of the (“Royalties”). Bottle caps are exempt from this royalty unless otherwise notified. Royalties are calculated from the actual sale price. (ie. full list price minus any coupons or deals, before tax.)
B. Royalty payments due hereunder shall be paid to Licensor on a quarterly basis unless otherwise notified.
C. All payments and statements required hereunder shall be delivered to Licensor via USPS regular mail or PayPal. Payment will be sent to the designated address or email address below.
IV. WARRANTIES: Licensor represents and warrants to Licensee that: (i) Licensor holds all rights and interests in the Artwork and Copyrights as are required to permit Licensor to grant to Licensee the rights and privileges set forth in this Agreement it; (ii) Licensor is duly authorized to enter into this Agreement; and (iii) the Artwork being licensed hereunder is original.
V. AMENDMENT: This Agreement shall be amended only by a writing signed by the parties. If such a written amendment is entered into, such written amendment shall modify only the provisions of this Agreement specifically modified and shall be deemed to incorporate by reference, unchanged, all remaining provisions of this Agreement.
VI. TERMINATION: General Terms: If this Agreement is terminated or expires, Licensee shall cease manufacture of Licensed Products and all rights granted under this Agreement shall immediately revert to Licensor. Upon termination, all outstanding payments due to Licensor shall be due immediately and in full. Termination shall occur if either party breaks the terms of contract.
[Rev2.updated 5-29-14, 12:30PM]
IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed this Agreement on the date this contract is submitted.