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7 2 <br />SPECIAL MEETING <br />JULY 22, 1993 <br />4. Remain true to proposal made by South Bend to the National <br />Football Foundation. <br />LICENSE AGREEMENT <br />CITY RIGHTS <br />1. Exclusive, non-transferrable right and license to use <br />anywhere in the world the licensed property (existing <br />trademarks and new intellectual property). <br />2. All Hall Operating Revenue: <br />- Admission Fees <br />- Food and Beverage Concessions <br />- Net Rental Revenues <br />- Gift Shop Sales and Sales of Other Merchandise at the <br />Hall of Fame <br />- 100% Catalog and brochure sales (1st 5 years) <br />- 100% Catalog and brochure sales up to $1,000,000 <br />Gross sales remainder of term <br />- Shared Revenue - 50% <br />- Special programming <br />- Revenues from licensing or sublicensing property to <br />prominent sponsors (i.e., $50,000 contribution any 5- <br />year period). <br />3. Up to 25% of surplus funds, after all Hall of Fame expenses <br />are met, to be used for any purpose. <br />NATIONALFOOTBALL FOUNDATION RIGHTS <br />1. License Fees <br />(a) Base license fee - <br />Year 1 $10,000 <br />Year 2 $15,000 <br />Year 3 $25,000 <br />(b) Supplemental license fee - percentage of surplus funds <br />(positive cash after all Hall operating expenses are <br />paid, including pre -opening and carry over expenses and <br />priority expenses). <br />(c) Additional license fee - after $14,000,000 is raised. <br />2. Shared Revenue <br />Sale of licensed property excluding gift shop, catalog, <br />and brochure sales (greater than $1,000,000 after Year <br />5). <br />50% of net shared revenue subject to City use for first <br />five (5) years (becomes operating expense). <br />3. All Foundation Revenue <br />- Tampa Hall of Fame Bowl <br />- Kickoff Classic <br />- Annual Awards Dinner <br />- Palm Springs Golf Classic <br />- Chapter Activities and dues - i.e., what they have done <br />before the Hall of Fame was built. <br />HALL OF FAME OPERATING EXPENSES <br />- Cost of marketing; goods sold <br />- Personnel costs <br />- Supplies; services including management fee <br />- Capital Improvement Fund <br />- Base License fee <br />- Lease Payments (cost of financing) <br />Unreimbursed pre -opening expense <br />- Unreimbursed prior year losses <br />- Unreimbursed net shared revenues <br />1 <br />1 <br />