Enter the name of the STORE, referred to as STORE, and Enter the name of the LICENSEE, referred to as LICENSEE, agree:
STORE grants to LICENSEE the exclusive right for a term of Enter the initial term of the license in months months, to operate a Enter the type of department department for the sale, at retail, of Enter type of product to be sold, and other products which are customarily sold together with the licensed line of products. As to the related products, this right shall be non-exclusive.
The total retail space permitted is Enter the square footage for retail space square feet. In addition Enter the number of feet for storage square feet shall permitted for storage. Storage space shall not be air conditioned or heated. The space to be provided to Enter the name of the LICENSEE shall be located as shown the attached floor plan. The initial cost of refurbishment, and provision of fixtures shall be the sole responsibility of LICENSEE, and the plans and completed work shall be subject to the approval of STORE. However, STORE may from time to time in its sole discretion require that the licensed area be moved. In the event that a move is required by the STORE, the expense of moving shall be borne by the STORE.
As rent LICENSEE shall pay the sum of Enter the percentage rental percent of all sales. LICENSEE shall provide a daily report to STORE of sales made that are paid for within its department. STORE shall provide a daily accounting of sums collected for sales originating within the department. In the event that STORE accepts payment for items purchased within the licensed department, the STORE shall provide price tags encoded so that sales are credited to LICENSEE. The minimum rental shall be $ Enter the minimum rental per year in numerals (Enter the minimum rental per year in numerals dollars) per year. Settlement shall occur on a monthly basis. In the event that the rental as calculated per month is not equal to 1/12 of the annual rental, STORE shall have the right to bill LICENSEE for any short fall.
The licensed department shall be open the same time as the store. Employees of the licensed department shall wear the same uniforms and name tags as employees of the STORE. Such uniforms, names tags and other personal items shall be provided by the STORE at its cost to LICENSEE. Employees of LICENSEE shall be subject to the same regulations as to dress and deportment as employees of STORE. The fact of this license shall not be made public, and the department shall be operated as if it was a a part of the STORE. LICENSEE shall be solely responsible for pay, fringe benefits and worker's compensation due to its employees. STORE may require that LICENSEE's employees attend training provided by it, and STORE shall bear the expense of the training, and LICENSEE shall pay its employees their regular wages for such training. STORE may in its discretion require LICENSEE to replace employees not meeting STORE's standards.
STORE shall be authorized to accept returns and to settle disputes with LICENSEE's customers with reasonable discretion, and in keeping with its standard policy of customer service. Any amounts paid in refund and any merchandise returned to STORE shall be deducted from amounts due by the STORE to the LICENSEE and returned to LICENSEE, respectively.
In the event that bank credit cards are accepted by STORE for sales made in LICENSEE's department, STORE shall remit the net amount of the sale, less the customary merchant discount. If STORE provides its own credit card:
STORE shall pay for all sales of merchandise from LICENSEE's department sales which are made on its card in full;
If STORE provides its own credit card, LICENSEE shall be provided with facilities for the acceptance of the same, and provided that STORE approves a charge transaction, STORE shall pay the same to LICENSEE at par.
If STORE accepts checks, it may accept checks for sales from LICENSEE's department under the same terms and conditions as it accepts checks from its own customers. All sums in checks shall be initially credited to LICENSEE. However, LICENSEE shall be charged back for sums due to bad checks. All bad checks shall be collected by STORE, and the net sums collected paid to LICENSEE.
LICENSEE shall spend a minimum of Enter the percentage of sales to be spent in advertising per cent of its total projected minimum sales (which shall be determined by dividing the minimum rental by the percentage of sales paid as rental) on advertising. Said advertising shall be coordinated and placed through the STORE's advertising department or agencies. LICENSEE shall prepare all advertisements at its costs, however the same will be subject to the final approval of STORE.
LICENSEE shall at all times maintain comprehensive general liability insurance and insurance on its stock with an insurance carrier acceptable to STORE with a minimum limit of $ Enter the minimum limits for insurance in numerals (Enter the minimum limits for insurance in numerals dollars). LICENSEE shall cause STORE to be named as an additional insured with payments to be made as the respective interests of the parties appear.
If LICENSEE shall at any time fail to maintain adequate stock, employees and meet the standards of the STORE for service and operation, STORE shall specify the defects, and LICENSEE shall have no more than 72 hours to remedy the defects for the first notification, and 24 hours for any subsequent notification. If the LICENSEE does not cure any breach, STORE may terminate the license with LICENSEE. LICENSEE specifically waives the necessity of a judicial order requiring it to cease operations and vacate the premises and STORE shall be entitled to effect removal through self-help.
In the event of the destruction of the premises or their condemnation during the term of this agreement, the LICENSEE's sole remedy shall an extended term equal to the remaining term under this agreement in any replacement store, or, if the existing store is damaged, to an extension of time equal to the time that the store is closed once the store is reopened.
This agreement and the rights thereunder may not be assigned by either party without the prior consent of the other party. In the event that the store premises are leased or subject to a mortgage this agreement shall be subordinate thereto. LICENSEE agrees that it will execute a subordination agreement upon request of the LICENSOR.
Enter the name of the STORE
Enter the name of the LICENSEE