The Agreement inter alia provides for payment of royalty effective January 1, 2021 to IR<BR> Global Ventures LLC at the rate of 4% on the Company's net sales price of all products and<BR> services, against the licensing of the technical knowhow, global design, core manufacturing<BR> process and procedures, patents, trade secrets etc., collectively referred to as the<BR> Intellectual Property by IR Global Ventures LLC to the Company. Net sales price will exclude<BR> sales to Intercompany [Related Party/Intra Group] customers. attached is the detailed letter.
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