Royalties on Net Sales of Licensed Products. 3.01 - As consideration for the rights granted by DUKE in this AGREEMENT, at the times and in the manner set forth hereinafter, MERIX shall pay to DUKE a royalty on NET SALES of LICENSED PRODUCTS. Such royalty shall be at the rate of percent [ %] of NET SALES of LICENSED PRODUCTS sold by MERIX, by AFFILIATES, or by sublicensees. [Royalty stacking to be negotiated] 3.02 - MERIX will pay to DUKE a minimum annual royalty of dollars ($ ) per year beginning .
Appears in 2 contracts
Sources: License Agreement (Argos Therapeutics Inc), License Agreement (Argos Therapeutics Inc)