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License Agreement

 

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Title:

License Agreement

Entities:

Legend Mobile Inc.

Date:

2001

Size:

Preview shows 5KB of 34KB total

Price:

$47

ID:

#1167649

 

 

► Licensing ► License Agreements
► Technology ► Computer Services

 

 

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<SEQUENCE>2

<FILENAME>0002.txt
<DESCRIPTION>LICENSE AGREEMENT
<TEXT>

<PAGE>

LICENSE AGREEMENT

This License Agreement (the "Agreement") is made and entered into as of
this 4th day of January 2001 by and between MICHAEL JORDAN ("Jordan"), an
individual with an address care of SFX Sports Group, Inc., 5335 Wisconsin
Avenue, NW, Suite 850, Washington, DC 20015 (Attn: Curtis J. Polk) and PTN
MEDIA, INC. ("PTN Media"), a Michigan corporation, with an address of 455 East
Eisenhower Parkway, Suite 15, Ann Arbor, Michigan 48108.

RECITALS

WHEREAS, PTN Media is a Michigan-based company engaged in the
development, promotion, advertisement and sale of Palm, Inc. products;

WHEREAS, PTN Media desires to obtain, and Jordan is willing to grant,
an exclusive license to use Jordan's name, image, likeness and endorsement
(herein the "Licensed Property") (all as approved in writing by Jordan) in
connection with the proposed advertisement, promotion and sale of Palm, Inc.
products, including, without limitation, the Palm Pilot series (herein, the
"Palm Products").

NOW, THEREFORE, in consideration of the premises, the mutual covenants
of the parties hereinafter set forth and other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties agree as
follows:

1. Definitions. As used herein, the terms set forth below shall be
defined as follows:

(A) "Licensed Property" shall include only the right to
use Jordan's name, image, likeness and endorsement of
Jordan, all as approved in writing by Jordan pursuant
to the terms of this Agreement;

(B) "Contract Territory" shall mean the entire world;

(C) "Contract Year" shall mean the twelve (12) month
period commencing on each first day of December
during the Term and concluding on the last day of
November during the Term;

(D) "Licensed Products" shall mean Palm, Inc. brand of
Palm Pilot electronic organizers including Palm III,
Palm IIIx, Palm V, Palm Vx and M100.

2. Grant of License.

(a) Subject to the terms and conditions of this Agreement,
Jordan hereby grants to PTN Media an exclusive license (the "License")
throughout the Contract Territory to use, distribute, display and transmit the
Licensed Property, as defined above in Section 1(A) only in the form, for the
purposes and in the manner, as expressly approved in writing in advance, by him
in connection with the proposed manufacture, advertisements in print media,
television and radio media, outdoor media and online media, distribution and
sale of certain approved Licensed Products, as defined above in Section 1(D),
and in the channels of distribution expressly approved in writing in advance by
Jordan. Subject to Palm's express acknowledgment of the terms and conditions of
this Agreement, PTN Media shall have the limited right to subcontract


<PAGE>


with Palm in connection with the License; provided, however, that in all events
any such subcontract or sublicense to Palm shall be subject to the express prior
written consent of Jordan.

(b) Any products approved as Licensed Products shall be listed
on Schedule 1 attached hereto and initialed by the parties. Any new item sought
to be included as a Licensed Product must be expressly approved and authorized
in writing by Jordan. Upon Jordan's approval, any such new items shall be set
forth in an updated Schedule 1 expressly authorized and executed by Jordan.

3. Retention of Licensed Rights. All rights to the Licensed Property
not specifically granted to PTN Media in this Agreement are reserved to Jordan,
and Jordan shall retain all rights in and to the Licensed Property, and whether
during the Term or any extension thereof, Jordan shall not be prevented from
using, or permitting others to use, the Licensed Property to in connection with
any product or service, including computer hardware, accessories and any
internet or handheld service in any manner whatsoever within the Contract
Territory. PTN Media further agrees that upon the expiration or other
termination of this Agreement, for any cause whatsoever, it and Palm will
immediately cease using the Licensed Property, Jordan's name, or any facsimile
thereof, for advertising, promotional, or any other purpose whatsoever.

(a) Subject to the terms of this Agreement, Jordan shall
continue to own all right, title and interest in and to the Licensed Property;
Jordan shall, however, have no right, title or interest in or to Palm Products

 

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