Opinion ID: 2469348
Heading Depth: 1
Heading Rank: 9

Heading: The Old Navy January 2009 Proposal

Text: The parties met once in December 2008 and several times in January 2009 to work out the details of the license agreement, a further draft of which L-7 supplied to Old Navy on December 15, 2008. Compl. ¶ 60. On January 8, 2009, one hour before a scheduled conference call, Old Navy proposed a launch at 100 Old Navy stores (As you know, our history of presenting third party-branded product in our stores is relatively short ...); a one-year commitment beginning in the spring of 2010; no additional personnel resources; and a one-year projected royalty of $1.5 million (... our previous discussions have never contemplated any royalty minimum guarantees, and, as a general rule, our company has not and will not agree to minimum guarantees. This has been consistent in all of our recent agreements.) (the January Proposal). Ex. 27.