Common use of Consideration for Assignment Clause in Contracts

Consideration for Assignment. In consideration for the rights which Assignee shall receive pursuant to this Assignment: (a) Empyrean Diagnostics, Ltd, shall transfer to Assignor one hundred thousand (100,000) shares of its restricted common stock (the "Stock"); and (b) Assignee shall pay to Assignor five percent (5%) of all net sales of the products in Canada pursuant to the Distribution Agreement. Royalties to be paid quarterly, 30 days after the end of each quarter. "Net sales" shall be defined as the total gross sales of the products to be sold pursuant to the Distribution Agreement at the invoice selling price, net of normal and reasonable cash, trade and quantity discounts and returns for credit, and without deductions for costs incurred in manufacturing, selling, distributing or advertising or for uncollectible accounts.