HEALTHBREEZE INC.
PUBLISHING AND DEVELOPMENT LICENSE AGREEMENT
Revised 2015. 7. 14
4. PAYMENTS, TAXES, REPORTING.
4.1 Royalty Terms.
For all Revenues received during the Term, HealthBreeze shall pay to Author a portion of Revenues in accordance with the following (collectively, the “Royalties”):
(a) For Revenue generated from Animated Works (excluding any Derivative Works), HealthBreeze will pay 25% of the respective Revenue to Author; and
(b) For Revenue generated from Derivative Works, HealthBreeze will pay 10% of the respective Revenue to Author.
4.2 Payment Terms.
HealthBreeze will send to Author the Royalties owed hereunder within approximately sixty (60) days after the end of any calendar year; provided that Author’s earned balance is U.S. $100 or more. When Author’s yearly earned balance is less than U.S. $100, there will be no payment and the balance will accumulate until it exceeds U.S. $100, at which time the balance will be paid to Author in accordance with the preceding sentence. Author can choose to be paid either (a) in readily available funds wired to an account designated by Author, or (b) in the form of “HealthBreeze User Ticket” as offered through the HealthBreeze Service.
4.3 Taxes.
HealthBreeze will be responsible for any taxes relating to payments it makes under or related to this Agreement other than taxes based on Author’s income. If HealthBreeze is required to deduct or withhold taxes from any payments made to Author and remit such taxes to the local taxing jurisdiction, then HealthBreeze will duly withhold such taxes and will pay to Author the remaining net amount after the taxes have been withheld. Author will be responsible for any taxes relating to payments it makes to third parties related to this Agreement.