Common use of Licensing Fee Clause in Contracts

Licensing Fee. In consideration of the rights granted in the License Agreement, LICENSEE issued to LICENSOR a licensing fee payment of 2,500,000 shares of its common stock and such common shares were issued to the LICENSOR as follows: 500,000 shares to the Xxxxxx Trust, 1,000,000 common shares to Xxxxxxx X. Xxxxxx and 1,000,000 common shares to Xxxxxx X. Xxxxxx. In further consideration of the expansion of the license granted to LICENSEE pursuant to Article II of this Amendment, LICENSEE hereby agrees to pay to the LICENSOR an additional licensing fee comprised of 5,924,000 shares of its common stock, to be issued to the LICENSOR as follows: 2,500,000 shares, to the Xxxxxx Trust, 1,424,000 common shares To Xxxxxxx X. Xxxxxx and 2,000,000 common shares to Xxxxxx X. Xxxxxx, with such additional licensing fee shares to be issued on the date LICENSEE executes this Amendment or as soon thereafter as practicable (both licensing fee payments of shares shall be collectively referred to as the "Licensing Fee"). LICENSOR and LICENSEE acknowledge and agree that the LICENSEE'S common stock issued and delivered pursuant to the License Agreement and this Amendment to LICENSOR shall not have any pre-emptive rights of any nature whatsoever and shall be subject to future dilution in the sole and exclusive discretion of LICENSEE for proper corporate purposes.

Licensing Fee. In consideration of the rights granted in the License Agreement, LICENSEE issued to LICENSOR a licensing fee payment of 2,500,000 shares of its common stock and such common shares were issued to the LICENSOR as follows: 500,000 shares to the Xxxxxx Coates Trust, 1,000,000 common shares to Xxxxxxx X. Xxxxxx and 1,000,000 Gregory G. Coates anx 0,000,000 common shares to Xxxxxx X. XxxxxxGeorge J. Cxxxxx. In further Xx xxxxxxr consideration of the expansion of the license expansiox xx xxx xxxxxxx granted to LICENSEE pursuant to Article II of this Amendment, LICENSEE hereby agrees to pay to the LICENSOR an additional licensing fee comprised of 5,924,000 shares of its common stock, to be issued to the LICENSOR as follows: 2,500,000 shares, to the Xxxxxx Coates Trust, 1,424,000 common shares To Xxxxxxx X. Xxxxxx Gregory G. Coates and 2,000,000 0,000,000 common shares to Xxxxxx X. XxxxxxGeorge J. Coates, with such xxxx xxxx additional licensing fee shares to be issued on xx xx xxxxxx xx the date LICENSEE executes this Amendment or as soon thereafter as practicable (both licensing fee payments of shares shall be collectively referred to as the "Licensing Fee"). LICENSOR and LICENSEE acknowledge and agree that the LICENSEE'S common stock issued and delivered pursuant to the License Agreement and this Amendment to LICENSOR shall not have any pre-emptive rights of any nature whatsoever and shall be subject to future dilution in the sole and exclusive discretion of LICENSEE for proper corporate purposes.

Licensing Fee. In consideration of the rights granted in the License Agreement, LICENSEE issued to LICENSOR a licensing fee payment of 2,500,000 shares of its common stock and such common shares were issued to the LICENSOR as follows: 500,000 shares to the Xxxxxx Cxxxxx Trust, 1,000,000 common shares to Xxxxxxx Gxxxxxx X. Xxxxxx and 1,000,000 common shares to Xxxxxx Gxxxxx X. Xxxxxx. In further consideration of the expansion of the license granted to LICENSEE pursuant to Article II of this Amendment, LICENSEE hereby agrees to pay to the LICENSOR an additional licensing fee comprised of 5,924,000 shares of its common stock, to be issued to the LICENSOR as follows: 2,500,000 shares, to the Xxxxxx Cxxxxx Trust, 1,424,000 common shares To Xxxxxxx Gxxxxxx X. Xxxxxx and 2,000,000 common shares to Xxxxxx Gxxxxx X. Xxxxxx, with such additional licensing fee shares to be issued on the date LICENSEE executes this Amendment or as soon thereafter as practicable (both licensing fee payments of shares shall be collectively referred to as the "Licensing Fee"). LICENSOR and LICENSEE acknowledge and agree that the LICENSEE'S common stock issued and delivered pursuant to the License Agreement and this Amendment to LICENSOR shall not have any pre-emptive rights of any nature whatsoever and shall be subject to future dilution in the sole and exclusive discretion of LICENSEE for proper corporate purposes.