Lenovo 2014 Annual Report Download - page 123

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121
2013/14 Annual Report Lenovo Group Limited
CONTINUING CONNECTED TRANSACTIONS (continued)
NEC Patent Licence Agreement
Date: The Closing Date
Parties: NEC and NECPC (a member of the JVCo Group on and following the Closing Date)
Services provided/received: NEC agreed to grant a licence of certain patents used in connection with the
operation of NEC’s personal computer business in Japan to NECPC at a royalty
of 0.03% of gross sales of certain products and/or services of NEC’s personal
computer business in Japan bearing the “NEC”.
Term: For a period of five years commencing from Closing Date expiring upon the earlier
of (i) the fifth anniversary of the Closing Date, and (ii) expiration of the last to expire
of the patents licensed under the NEC Patent License Agreement. The NEC Patent
License Agreement will automatically renew for a further period not terminating after
the expiration of the last to expire of the patents licensed under the NEC Patent
License Agreement.
Annual cap(Note 1):1/7/2011 – 31/3/2012: JPY50 million (US$605,000)
1/4/2012 – 31/3/2013: JPY66 million (US$798,600)
Revised annual cap(Note 2):1/4/2013 – 31/3/2014 : JPY79 million (US$774,200)
1/4/2014 – 31/3/2015 : JPY79 million (US$774,200)
1/4/2015 – 31/3/2016 : JPY79 million (US$774,200)
1/4/2016 – 1/7/2016 : JPY20 million (US$196,000)
NEC Newco Brand Licence Agreement
Date: The Closing Date
Parties: NEC and NECPC (a member of the JVCo Group on and following the Closing Date)
Services provided/received: NEC agreed to grant NECPC a licence to use certain rights in connection with the
letters and the mark “NEC” at royalty payable to NEC by NECPC.
Term: Commence on the Closing Date for a period of 5 years.
Annual cap(Note 1):1/7/2011 – 31/3/2012 : JPY512 million (US$6,195,200)
1/4/2012 – 31/3/2013 : JPY682 million (US$8,252,200)
1/4/2013 – 31/3/2014 : JPY682 million (US$8,252,200)
1/4/2014 – 31/3/2015 : JPY682 million (US$8,252,200)
1/4/2015 – 31/3/2016 : JPY682 million (US$8,252,200)
1/4/2016 – 1/7/2016 : JPY170 million (US$2,057,000)