English to Russian Bus/Financial Finance (general) Video on Demand License Agreement

In consideration of the VOD Rights, Distributor shall pay to the Licensor a total recoupable Advanced Minimum Guarantee of US$ 1000.00 NET after withholding of any duties and taxes including 3% withholding tax by the law of China.

The Guarantee will be recouped from Licensor’s share of Gross Receipts obtained from the exploitation of all Licensed VOD Rights, as herein provided.
After Recoupment of the Advanced Minimum Guarantee, Distributor shall proceed with 100% payment of the Royalties to the Licensor of each quarter within 30 days upon reception of the original invoice.