Nautilus 2009 Annual Report Download - page 114

materials to complete unfinished goods after termination of this Agreement. Any and all use by Buyer of any Licensed Patents
and any other rights licensed by Nautilus under this License to Buyer shall immediately cease upon sale of outstanding
inventory.
(ii) All payments from Buyer to Nautilus that have accrued as of the date of termination or expiration shall immediately
become due and payable.
E. Additional Relief. The Parties shall be entitled to such other relief as may be determined by a court of law as selected under
Section 15.A. below.
A. Except as provided in Section 12.B. below, this License, including, but not limited to the rights licensed under Sections 2.A.,
2.B.,2.C., 2.D., 2.E. and 2.F in the Commercial Channel, unless terminated in accordance with the terms of this License, shall
continue in force.
B. Term for the Permitted Retail Channel
(i) Initial Term: Unless terminated in accordance with its terms, the Initial Term of this License for the Permitted Retail
Channel shall be for only four (4) years from the effective date of the License. If no extension to the Initial Term is negotiated
by the Parties, Buyer shall automatically have a two (2) year Wind Up Term to wind up its activity in the Permitted Retail
Channel and at the end of the Wind Up Term, Buyer shall cease all sales in the Permitted Retail Channel involving the
Licensed Trademarks.
(ii) Notice for Renegotiation: No earlier than six months prior to the expiration of the Initial Term and no later than sixty
(60) days prior to the expiration of this Initial Term for the Permitted Retail Channel, Buyer may provide Written Notice to
Nautilus of Buyer’s desire to renegotiate a license to rights for the Permitted Retail Channel for a period of time beyond the
Initial Term.
(iii) Renewal Term: If Nautilus does not respond by written notice to Buyer’s request for renegotiation within sixty (60) days,
then this License for rights for the Permitted Retail Channel will continue for a Renewal Term of four (4) years commencing
at the end of the Initial Term.
(iv) Second Notice for Renegotiation: No earlier than six months prior to the expiration of the Renewal Term and no later than
sixty (60) days prior to the expiration of this Renewal Term, Buyer may provide Written Notice to Nautilus of Buyer’s desire
to renegotiate a license to rights for the Permitted Retail Channel for a period of time beyond the Renewal Term.
pg. 19
12.
Term.