The final agreement is permanent, but any declaration of work may be terminated as shown below. If an agreement has been considered for consideration, for example. B for foreign exchange, etc., the document would become mandatory for the parties, otherwise it would be a non-binding contract. The intention of the parties can be deciphered from the content and material provision of the agreement. Clauses such as the jurisdiction clause, applicable law and compensation have binding effects on the agreement. The legal nature of an agreement is therefore based on the rights, obligations and obligations it establishes between the parties. The final agreement contains usual insurance and guarantees and indemnification clauses, including (a) Synapse`s assurances that USB 3.0 transceiver IP and other delivery components meet applicable specifications and do not carry (b) Compensation of NeoMagic by Synapse for any infringement claim raised by third parties due to the use of the USB 3.0 IP TRANSceiver and other delivery items. NeoMagic pays synapse the percentage indicated in the financial schedule part B of the profit (as in the financial appendix, part B) of the sales of the SyMagic transceiver. The contracting parties will meet no later than three years after the final agreement comes into force to review adjustments to the percentage of neomagic royalty. The NeoMagic Royalty is payable quarterly. 9.
The memorandum should specify the duration of such an agreement between the parties, i.e. the start and end date of the memorandum. It should also provide for the circumstances under which such a memorandum is terminated. Non-binding provisions. If the contracting parties enter into a formal and binding agreement, the contracting parties expect that the agreement will contain the terms set out in Schedule A. Such exposure is not a full statement of all the terms of the transaction currently under consideration by the contracting parties. With the exception of third-party intellectual property, the parties jointly hold all intellectual property rights on the USB 3.0 IP TRANSceiver and other benefits under the final agreement or related to an intellectual property license (whether established for NeoMagic or a SYNapse SYNapse licensee), including all of Synapse`s existing intellectual property rights. , are delivered.
The contracting parties define, in the final agreement, their respective rights and obligations with respect to the protection and application of this common intellectual property. Before including third-party intellectual property in a delivery component, Synapse agrees to obtain prior approval from NeoMagic153s. Synapse confirms that all royalties related to such intellectual property are borne by Synapse153. Regardless of the above, NeoMagic, as between the parties, has exclusive rights to the «SyMagic» brand. NeoMagic will pay synapse up to $1,000,000 for its development work as part of the final agreement for the completion of the IP TRANSCEIVER USB 3.0.