Question: Consider the Non-Exclusive License Agreement between The Johns Hopkins University and Virtuoso Surgical, Inc. for Commercial Development of Surgical Products; Does this contract include any revenue or profit-sharing arrangements?
Relevant contract clauses:
[{"span": [4716, 4924], "answer": "As consideration for JHU's grant of a License to Company under this Agreement, Company shall pay to JHU a license fee, cash and equity, as set forth in Exhibit A within thirty (30) days of the EFFECTIVE DATE.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}, {"span": [5047, 5123], "answer": "Company shall pay to JHU minimum annual royalties as set forth in Exhibit A.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}, {"span": [5586, 5821], "answer": "Company shall pay to JHU, a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold and each LICENSED SERVICE(S) provided, based upon NET SALES and NET SERVICE REVENUES respectively, for the term of this Agreement.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}, {"span": [25284, 26841], "answer": "In addition, COMPANY shall issue to JHU that number of shares of common stock representing five percent (5%) of the outstanding common and preferred shares on a fully diluted basis of COMPANY pursuant to an agreed upon stock purchase agreement between COMPANY and JHU. The stock purchase agreement shall contain provisions protecting JHU against dilution of its equity interest in the event the post-money valuation of any equity investment is less than two million dollars ($2,000,000), and it will also contain a provision for the piggy-back registration of common shares with any other class of stock in an initial public offering. If COMPANY proposes to sell any equity securities or securities that are convertible into equity securities of COMPANY (collectively, \"Equity Securities\") in any new round of financing, then COMPANY shall offer JHU and/or its Assignee (as defined below) an opportunity to purchase either: (i) up to that portion of the Equity Securities that equals JHU's then current, fully-diluted percentage ownership interest in COMPANY, or (ii) if the percentage offered for sale by COMPANY is less, then up to five percent (5%) of the Equity Securities offered for sale. Such offer to purchase shall be on the same terms and conditions as are offered with respect to such Equity Securities sold in such financing. For purposes of this section 7 of Exhibit A, the term \"Assignee\" means: (a) any entity to which JHU's preemptive rights have been assigned either by JHU or by another entity, or (b) any entity that is controlled by JHU.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}, {"span": [26887, 26993], "answer": "COMPANY shall pay an annual EARNED ROYALTY as follows: 2.1.1 Four percent (4%) of the sum of NET REVENUES.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}, {"span": [27016, 27471], "answer": "If COMPANY is required to pay running royalties on any patent rights not licensed hereunder (\"Other Royalties\") in order to make, use or sell a particular LICENSED PRODUCT or LICENSED SERVICE, COMPANY shall be entitled to credit half (50%) of such Other Royalties against the Earned Royalty due, but the Earned Royalties shall not be reduced below fifty percent (50%) of those that would otherwise be due JHU for that LICENSED PRODUCT or LICENSED SERVICE.", "file_path": "cuad/VirtuosoSurgicalInc_20191227_1-A_EX1A-6 MAT CTRCT_11933379_EX1A-6 MAT CTRCT_License Agreement.txt"}]