Item 1.01. Entry into a Material Definitive Agreement.
On
$25,000 On or beforeOctober 10, 2022 $25,000 On or beforeNovember 1, 2022 $25,000 On or beforeDecember 1, 2022 $25,000 On or beforeJanuary 1, 2023 $25,000 On or beforeFebruary 1, 2023 $25,000 On or beforeMarch 1, 2023 $15,000 On or beforeApril 1, 2023 $15,000 On or beforeMay 1, 2023 $15,000 On or beforeJune 1, 2023 $15,000 On or beforeJuly 1, 2023 $15,000 On or beforeAugust 1, 2023 $15,000 On or beforeSeptember 1, 2023 $15,000 On or beforeOctober 1, 2023 $10,000 On or beforeNovember 1, 2023 $10,000 On or beforeDecember 1, 2023
In exchange for the Settlement Sum, the Company granted to MONQ a non-exclusive
license through and including
Subject to full receipt of the Settlement Sum, the Company also granted to MONQ a non-exclusive and non-assignable license to the Patent to allow MONQ to continue to make, use, sell, offer for sale, import, export, supply, lease, distribute, purchase, perform, provide, display, transmit, or otherwise practice the Patent with respect to manufacturing, marketing and selling its devices.
The foregoing description of the Settlement Agreement does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits Exhibit Number Description 10.1 Settlement Agreement dated as ofSeptember 30, 2022 , by and betweenVPR Brands, LP andMONQ, LLC . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1
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