1. DEFINITIONS. For the purposes hereof:
(a) “PROPERTY” is defined as and shall be deemed to include the names,
logos, symbols, and trademarks of Owner, and other intellectual property
of Owner, as specifically defined in the Trademark Standards and Usage
Guidelines attached as Exhibit I for all trademarks/logo designs, whether
stylized or in plain, textual or typeface fonts.
(b) “LICENSED ARTICLES” are defined as only those articles of merchandise
or products specified in Paragraph 2(a), Grant.
(c) “TERM” is defined as a period commencing upon execution of this Agreement through December 31, 2013, unless sooner terminated in accordance with the provisions stated herein in Paragraph 9, Default and Termination.
(d) “TERRITORY” is defined as: Global. If Licensee has not established
active representation within a specific country by December 31, 2011, Owner,
in its reasonable discretion, has the option to revoke such applicable
country from inclusion in the Territory by giving 90 days written notice
thereof to Licensee.
(e) “GROSS SALES” are defined as the entire amount of the wholesale price,
(whether for cash or otherwise) of all sales of LICENSED ARTICLES by the
Licensee without limitation. |