LICENSED PREMIUM(S) definition
LICENSED PREMIUM(S). Licensee shall have the right to include premiums incorporating the Licensed Property in association with the Licensed Promotion. Any and all such premiums shall be determined by the parties at a later date and shall be added to this License Agreement pursuant to a written amendment, provided, however, that Licensor shall have the absolute right to approve in writing all the elements (i.e. all premiums as well as all product packaging, advertising, etc.) prior to manufacture of said premiums.
LICENSED PREMIUM(S) is hereby deleted in its entirety. All Licensed Premiums are hereby recaptured and shall be deemed to have immediately reverted to Licensor.