Plastic2Oil Inc (PTOI)

[Johnik]

If you haven't already, read the actual Master Revenue Sharing Agreement

Always best to consult the legal document.

No exclusivity, no 10 year period.

Put down in words. Nice and Legal.

I agree that it is always best to consult the legal document in order to identify its terms, such as these ones.

From page 9:

For the purpose of facilitating JBI’s use of the License Area, subject to the terms and conditions hereinafter set forth, RockTenn hereby grants to JBI an exclusive license, that may not be terminated until the earlier of the expiration of the Term as described in an Agreement Addendum or earlier termination of this Agreement provided herein, to operate the AST System, the Pad, the Steel Shed, Plastic Feedstock from any RockTenn Facility covered by an Agreement Addendum,any RockTenn Facility landfill covered by an Agreement Addendum and the JBI Machines for the sole purpose of producing Fuel.

From page 15:

The term of this Agreement (the “Term”) shall commence on the Effective Date and shall continue for the longer of (i) a period of 10 years thereafter or (ii) the expiration of the last Agreement Addendum (the “Initial Term”), unless earlier terminated pursuant to this Section 4.6, 4.7, 4.8 or otherwise provided herein. Except as otherwise provided herein, this Agreement will renew automatically for additional five years (each, a “Renewal Term”) following the Initial Term and each subsequent Renewal Term.

http://www.sec.gov/Archives/edgar/data/1381105/000121390011004040/f8k072911ex10i_jbi.htm

An Agreement Addendum is, of course, needed to implement and add further meaning to these clauses. In that regard, it appears that JBI and RockTenn reached an agreement as to the basic form of any Agreement Addendum executed in accordance with the Master Agreement, given that it was incorporated by reference into the contract.