This Royalty Agreement ("Agreement") is entered into as of (the "Effective Date") by and between:
The Designer grants the Company the right to manufacture, market, and sell products incorporating the Designer’s designs as described below:
| Royalty Rate | % of Net Sales |
|---|---|
| Payment Schedule | |
| Reports Due |
The Designer retains ownership of all intellectual property rights in the Designs. The Company receives only the limited license as described in this Agreement.
Both parties agree to keep confidential all proprietary information and terms of this Agreement.
| Designer Name: Signature: Date: |
Company Representative Name: Signature: Date: |