To John Roe Company,
Pittsburg, Pa.
LICENSE:—NON-EXCLUSIVE—WITH ROYALTY
This agreement, made this tenth day of January, 1901, between Richard Doe, of Wilmington, County of New Castle, State of Delaware, party of the first part, and the Metallic Railway Tie Company, of Chicago, in the County of Cook, and State of Illinois, party of the second part,
Witnesseth, that whereas Letters Patent of the United States, No. 000,000, for an improvement in Metallic Railroad-Ties, were granted to the party of the first part January 1, 1901; and whereas the party of the second part is desirous of manufacturing Metallic Railroad-Ties containing the said patented improvements:
Now, therefore, the parties hereto have agreed as follows:
I. The party of the first part hereby licenses and empowers the party of the second part to manufacture, subject to the conditions herein named, at their plant in Chicago, and in no other place or places, to the end of the term for which[p. 101] said Letters Patent were granted, Metallic Railroad-Ties containing the patented improvements, and to sell the same within the United States.
II. The party of the second part agrees to make full and true returns to the party of the first part, under oath, upon the first days of January and July in each year, of all Metallic Railroad-Ties containing said patented improvements manufactured by them.
III. The party of the second part agrees to pay the party of the first part five dollars as a license fee upon each and every thousand Metallic Railroad-Ties manufactured by the party of the second part containing the patented improvements: provided, that if the said fee be paid upon the days provided herein for semi-annual returns, or within ten days thereafter, a discount of fifty per cent, shall be made from said fee for prompt payment.
IV. The party of the second part agrees to put forth their best efforts and use due diligence in the manufacture and sale of the Metallic Railroad-Ties containing the said patented improvements, and if the royalties do not amount to five hundred dollars semi-annually, the party of the first part may terminate this license by serving a written notice upon the party of the second part.