Luminar Media Group Inc (LRGR)

[Screech691]

Jenex will receive a royalty payment equal to 10% of gross sales of the Device up to the first 100,000 units sold and 5% of gross sales of the Device thereafter. The royalty is payable quarterly. Luminar must meet minimum sales targets of 10,000 units sold in the first 12 months from signing the License, 50,000 units sold by 24 months following the signing of the License and 100,000 units sold by 36 months from signing of the License. Luminar must continue to sell a minimum of 100,000 units per year beyond 36 months from signing of the License.