Agreement review https://www.sec.gov/Archives/
Post# of 36552
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Posted On: 05/05/2021 3:23:34 PM
Agreement review
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
One of the paragraphs...
for the avoidance of doubt , the parties agree that Party B shall not be entitled to further distribution of the net profits of the Joint Entity upon the payment of the aforesaid US$20 million license fee until the completion of distribution of the remaining US$80 million net profits of the Joint Entity to shareholders other than Party B ("Other Shareholder Distribution"
; and after the completion of Other Shareholder Distribution, the other remaining net profits of the Joint Entity will be distributed among all the shareholders in proportion to their respective shareholding percentage in the Joint Entity.
Licensing Fee: $5,000,000 (Five Million USD) upfront fee due upon the execution of the Agreement; and then upon a successfully approved Vaccine, and an additional $20,000,000 (Twenty Million USD) from the net profits from the Joint Entity.2.Royalty Fee: Once the Vaccine comes on to market for the first commercial sale, then the Joint Entity shall:a.Offer Generex 20% of the equity interests in the Joint Entity; orb.Cash payments to Generex in a price equal to US$2.00 per dose for the COVID-19 vaccine.
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
One of the paragraphs...
for the avoidance of doubt , the parties agree that Party B shall not be entitled to further distribution of the net profits of the Joint Entity upon the payment of the aforesaid US$20 million license fee until the completion of distribution of the remaining US$80 million net profits of the Joint Entity to shareholders other than Party B ("Other Shareholder Distribution"
; and after the completion of Other Shareholder Distribution, the other remaining net profits of the Joint Entity will be distributed among all the shareholders in proportion to their respective shareholding percentage in the Joint Entity. Licensing Fee: $5,000,000 (Five Million USD) upfront fee due upon the execution of the Agreement; and then upon a successfully approved Vaccine, and an additional $20,000,000 (Twenty Million USD) from the net profits from the Joint Entity.2.Royalty Fee: Once the Vaccine comes on to market for the first commercial sale, then the Joint Entity shall:a.Offer Generex 20% of the equity interests in the Joint Entity; orb.Cash payments to Generex in a price equal to US$2.00 per dose for the COVID-19 vaccine.
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