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USM Forum -- Message Board -> AAUP-USM MESSAGE BOARD -> Athletic licensing agreement approved
Post Info TOPIC: Athletic licensing agreement approved
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Athletic licensing agreement approved
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USM - Approved the request to enter into a professional service agreement with Licensing ResourceGroup (LRG) for the licensing of all USM athletic trademarks. The term of the contract is forty-five(45) months April 1, 2010 to December 31, 2013. Fees paid to LRG and royalties paid to USMwill be generated based on gross revenues from the sale of the licensed products. Fees are

projectedat approximately $234,000 and royalties are

projected at approximately $1,500,000 for USMAthletics. In addition to the outlined fee/royalty schedule outlined below, $30,000 will be paid to

USM upon signing the contract. Fees paid to LRG will be generated from gross revenues from the

sale of the licensed products. A copy of the agreement which has been reviewed and approved by

the Attorney Generals Office is included in the

March 18, 2010 Board Working File.Royalties Received forEach 12 Month Period LRG Percentage USM Percentage$0 to $300,000 15% 85%$300,001 to $500,000 18% 82%

In excess of $500,000 10% 90%



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