Additional Clauses.
- Definition.
Net Profit: Net profit is the amount of money a business earns after deducting all expenses from its total revenue.
- Exclusivity.
This Agreement between the parties shall exclude any product other than the Battery with Smart-SLI technology in it, such as a stand-alone booster and a stand-alone battery monitor that the Company may manufacture and launch or any other product thereof.
- Profits.
Parties agree that in the event the Company enters into a business of manufacturing a battery with Smart-SLI technology in it, the Company shall pay the Consultant a 5% profit sharing on Net Profit that the Company would have generated from the battery manufacturing operation/business.
If the Company secures a third-party investment (in funds/cash), for manufacturing a battery, in exchange for an equity stake in the Company, the Consultant’s 5% Net Profit sharing would be based on the Net Profit calculated after the third-party investor(s) receives their share of the Company’s net profit.
- Entire Agreement.
Parties agree that this Agreement is the entire and complete agreement between the parties and shall supersede any prior agreements, promises, or understandings which are hereby voided and/or terminated.
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