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The_Gman

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The_Gman

Re: TEEROY post# 43601

Thursday, 03/15/2018 4:12:51 PM

Thursday, March 15, 2018 4:12:51 PM

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5.4. Royalties. During the period of time beginning on the applicable Milestone Date and extending until the termination of this Agreement (the “Royalty Period”), Modern Round will pay VirTra the following royalty payments (“Royalties”):

(a) Royalty Payment. Modern Round will pay or cause to be paid to VirTra on or about the first business day of each month during the Term a monthly license fee equal to seven percent (7%) of the Gross Revenue during the prior month at each Location that uses the Integrated Software and/or any VirTra Technology.

there's more info at the link below

https://www.sec.gov/Archives/edgar/data/1609319/000119312516602259/d198021dex1010.htm

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