-9- $400 per month as payment for the performance of the general office duties. Such payment shall be payable at the end of every month for that month’s performance. The licensing and sale agreement provided in relevant part: LICENSING AND SALE AGREEMENT * * * * * * * Charlotte’s Office Boutique, Inc. is engaged in the fulfillment of office supply orders; and Charlotte Odell has developed a system to obtain governmental contracts and qualifies as a woman business owner, In consideration of the promises and mutual covenants herein set forth, the parties agree as follows: 1. Definitions A. The term “know-how” as used herein shall mean select process, sources of supply, marketing data, sales techniques relating to office supplies, quality control, inventory control, bid process, and government contract process. B. The term “existing contracts” shall mean contracts executed by Charlotte Odell prior to January 1, 1995, to fulfill supplies and equipment orders. The term shall also include contracts executed after January 1, 1995, but based upon bids submitted prior to January 1, 1995. C. The term “gross receipts” shall mean the actual price at which Charlotte’s Office Boutique invoices its customers for products and as reported on the corporation’s financial statements. Gross receipts shall not be reduced by bad debts or any other uncollected amounts. 2. Transfer of Know-How, Existing Contracts and “Woman-Owned” Status A. Charlotte Odell transfers to Charlotte’s Office Boutique, Inc. the right to assume both thePage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011