Common use of Guaranteed Royalty Clause in Contracts

Guaranteed Royalty. (a) Nonni's agrees to pay a Guaranteed Royalty (defined below) per year on Net Sales of Royalty Bearing Products during the term as set forth on the following schedule: Year 1 $ 75,000 Year 2 350,000 Year 3 675,000 Year 4 675,000 Year 5 675,000 (b) The foregoing guaranteed payments shall be referred to herein as the "Guaranteed Royalty" and shall be due within 45 days of said twelve-month period.

Guaranteed Royalty. (a) Nonni's agrees to pay a Guaranteed Royalty (defined below) per year (which shall not begin until 3 months after the execution of this Agreement) on Net Sales of Royalty Bearing Products during the term first three years as set forth on the following schedule: INITIAL TERM ------------ Year 1 $ 75,000 $1,100,000 Year 2 350,000 $1,750,000 Year 3 675,000 Year 4 675,000 Year 5 675,000 $2,100,000 (b) The foregoing guaranteed payments shall be referred to herein as the "Guaranteed Royalty" and shall be due within 45 days of said twelve-twelve month period.

Guaranteed Royalty. (a) Nonni's agrees to pay a Guaranteed Royalty (defined below) per year (which shall not begin until 3 months after the execution of this Agreement) on Net Sales of Royalty Bearing Products during the term first three years as set forth on the following schedule: Year 1 $ 75,000 1,100,000 Year 2 350,000 $ 1,750,000 Year 3 675,000 Year 4 675,000 Year 5 675,000 $ 2,100,000 (b) The foregoing guaranteed payments shall be referred to herein as the "Guaranteed Royalty" and shall be due within 45 days of said twelve-twelve month period.