3/3/2023 0 Comments Profit sharing agreement doc![]() ![]() Maintaining $5,000.00 in the ID general administrative account (to account for basic legal, accounting and general operating costs), Revenue Sharer shall receive 168% (8% per $10,000.00 contribution) of the gross remaining disbursement to ID from its Licensee for the first 10,000 units sold of the mechanical device. Revenue Sharer will also be entitled to the same revenue share generated by the Patent if the Patent is licensed to and/or manufactured and distributed by a company other than ID. WHEREAS the parties wish to compensate Revenue Sharer for future revenue generated from the ID Agreement, and/or any future successors or assigners of Revenue Sharer. WHEREAS in consideration of providing $20,000.00 to ID for development costs of said mechanical device at ID, and by virtue of ID entering into a Manufacturing and Distribution Agreement dated Febru(“ ID Agreement”) which is incorporated herein by reference and TBD (“Patent”) for a mechanical device design assigned through the US Patent Office to ID. THIS AGREEMENT is by and between ILLUSTRATIVE DESIGNS, a Colorado Sole Proprietor (hereinafter referred to as “ ID”), whose business address is, (hereinafter referred to as “ID”) and “_”, an individual whose address is _ (hereinafter referred to as “ Revenue Sharer”), dated and effective as of the last party to affix their signature below. Use this TEMPLATE when negotiating a standard revenue sharing agreement: REVENUE SHARING AGREEMENT - DRAFT FOR DISCUSSION. ![]() ![]() PRODUCT REVENUE SHARING AGREEMENT TEMPLATE ![]()
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