4. Finalized Licensing Agreement Framework (40% Royalty)
This agreement is made between The Binghamton Octave Sanctuary & Garden (BOSG, the Nonprofit Licensor) and Octave Builders Academy (OBA, the For-Profit Licensee).
I. Grant of License & Restrictions
| Parameter | Details |
|---|---|
| Type of License | Exclusive, Worldwide, Non-Transferable License, Revocable Only For Cause. |
| Duration | Initial term of five (5) years, automatically renewable unless terminated. |
| Usage | Solely for the creation and sale of digital content (Video Courses, Online Games) and physical services (Workshops). |
II. Compensation Structure: The 40% Royalty
OBA shall pay a monthly royalty to the Nonprofit, calculated as follows:
| Term | Detail |
|---|---|
| Royalty Rate | 40% (Forty Percent) |
| Base Calculation | Net Revenue from all OBA sales (Workshops, Video Courses, Online Game). |
| Definition of Net Revenue | Gross Sales (Tuition/Fees) minus Direct Operating Costs (instructor salaries, materials, payment processing fees, and direct advertising spend). |
| Funding Target | All royalties paid by OBA are designated solely for the $500,000 BOSG Maintenance and Endowment Fund. |