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Madacy Entertainment | PEARL RIVER, NY--(BUSINESS WIRE)--March 14, 2007--Traffix, Inc. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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As a result of the Company's acquisition of the co-venturer's interest in the EZ-Tracks(R) joint venture, the Company now has full ownership and control of the EZ-Tracks(R) internet-based marketing business. The initial license term to Traffix is for ten years, with an option to renew for five additional years. The license is royalty-free during its initial term, other than for mobile phone use, and if renewed, a fixed annual sum would be payable as a royalty. The license provides unlimited exclusive use of the Madacy music catalog for the Company's internet-based direct marketing activities. It also provides unlimited use of the Madacy music catalog for mobile phone use. In addition to music content, additional new arrangements give the Company a fee based license to the Madacy catalog of video content. The Company has recently launched a n
