Revenues from Commercialization of Intellectual Property

Commercialization by the Employee – Where the Employee is responsible for Commercialization, the Employee agrees to remit to the Employer a sum equal to 25% of the Net Income resulting from Commercialization activities in excess of the first $10,000 which shall accrue to the Employee. Employees agree to submit a report containing an outline of Commercialization activities and a statement of all expenses and gross income for the previous fiscal year by 30 June. (Art. 33.16(a))