Free Royalty Agreement

This Royalty Agreement ("Agreement") is entered into on [Date] ("Effective Date") between: [Your Name], located at [You Company Address] ("Owner"),

and [Licensee/User's Name], located at [Licensee/User's Address] ("Licensee").

WHEREAS, the Owner owns certain intellectual property rights as described below; and

WHEREAS, Licensee desires to obtain a license to use the intellectual property owned by the Owner under the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Definitions

a. Intellectual Property shall mean the software application known as "TechBoost" and all associated trademarks, copyrights, and trade secrets.

b. Licensed Rights shall mean the rights granted by the Owner to the Licensee under this Agreement to use the Intellectual Property to distribute and sublicense the TechBoost software.

2. Grant of License

The Owner is currently and officially granting to the Licensee a non-exclusive license that is applicable worldwide. This license is for the use of the Intellectual Property and is specifically and exclusively intended for the distribution and the provision of sublicense for the software produced by TechBoost.

3. Royalties

a. In consideration for the rights granted herein, the Licensee shall pay to the Owner royalties calculated as 10% of net revenue derived from the sale or sublicensing of the TechBoost software by the Licensee.

b. Royalties shall be payable quarterly, and the Licensee shall provide the Owner with a detailed report of revenues generated and royalties due with each payment.

c. Licensee shall have the right to audit the Licensee's records to verify the accuracy of the royalty payments upon 30 days written notice to Licensee.

4. Term and Termination

a. This Agreement shall commence on the Effective Date and shall continue in effect until terminated as provided herein.

b. Either party may terminate this Agreement upon 30 days' written notice to the other party in the event of a material breach of any provision of this Agreement by the other party, unless such breach is cured within 15 days after receipt of written notice thereof.

c. Upon termination of this Agreement, all rights and licenses granted hereunder shall immediately revert to Owner.

5. Confidentiality

The individual or entity to whom the license is granted explicitly agrees to maintain strict confidentiality concerning all information that is unique and proprietary, which is disclosed by the Owner throughout the duration and activities under this Agreement. Furthermore, this licensee consents to utilize such proprietary information solely for the purposes directly related to this Agreement, and not use it in any other context outside the specified Agreement's purview.

Governing Law and Dispute Resolution

This Agreement shall be governed by and construed by the laws of [Jurisdiction]. Any dispute arising out of or in connection with this Agreement shall be resolved through good faith negotiations between the parties. If the parties are unable to resolve the dispute amicably, the dispute shall be finally settled by arbitration by the rules of [Arbitration Institution], and the seat of arbitration shall be [City, Country].

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date first above written.

[YOUR NAME]

[DATE SIGNED]

[LICENSEE/USER'S NAME]

[DATE SIGNED]

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