The Thomas A. Edison Papers Digital Edition

Transcription

Argument made in duplicate this [Seventeenth?] day of May 1902 _ letters Thomas A. Edison Jr. of the City and State of New York _ party of the first part. and _ _ _ _ Party of the second part.
Witnesseth _ that whereas the party of the second part _ propose to manufacture and sell a Phonograph or Talking machine _ and in [decisions?] of obtaining a popular name for purch Phonograph or Talking Machine [who?] [illegible] _ [For?] and in consideration of the sum of #______________ paid by the party of the second part _ to the party of the first part _ the receipt whereof is hereby acknowledged _ and of the mutual [agreements?] therein continued, it is mutually agreed that they party of the first part _ hereby grants to the party of the Record part. The sole and exclusive right to use the name of Thomas A. Edison Jr. (as well as the name of Thomas A. Edison should the party of the first part ever become legally entitled to use such name) in connection with the manufacture of or the pale of a Phonograph or Talking machine _
The forty of the second part _ further agrees that he will say to the party of the first part _ a royalty of one dollar ($1.00) upon each and every machine that the party of the Record part may sell that bears the name of the party of the first part _ An accounting of such pay [alties?] shall be made to the party of the first part at the Expiration of every three months. The first accounting to be made not later than the first day of April 1903 _ and the party of the second part agrees _ that should the pales not be sufficient to pay an amount equal to one hundred dollars (100, [illegible]) per month, that the party of the second part _ will make up the difference to the party of the first part _
The party of the second part may at any time cancel the royalty payments provided herein by paying to the party of the first part the sum of Fifteen Thousand dollars ($15,00.00)
The party of the second part may incoporate a Company or Companies bearing the name of the party of the first part _ as the party of the second part may deem best _
The party of the second part may assign part or all of his interest in this assignment at his pleasure.
This agreement carries with it the right to sign the name of the party of the first part to or upon any papers that may be necessary for the proper transaction of the business _ it is however understood that the party of the first part shall not in any way be held liable for the acts or liabilities of the party of the present part, his successors, or [assigns?] _ incurred under the privileges hereby conferred _ and this privilege shall pertain only and strictly to the Phonograph business,
It is agreed that the royalty payments as expressed above shall be paid to the party of the first sent by certified check when some New York Bank and paid check shall be mailed to the address of the party of the first part _ [illegible] five days after becoming [dulin?] the consent of the party of the second part [illegible] in the payments of the above returned royalty payments for a period of these months after any push payment is due _
Then the party of the second part will have committed a breach of this agreement and as liquidated damages for such breach of agreement the party of the second part hereby confesses judgement to the party of the first part, in the [illegible] of Fifteen Thousand Dollars ($15,000.00) and the party of the first part agrees with the party of the present part that should be _ the party of the first part commit any breach of the agreement _ he hereby confesses judgment to the party of the second part in the pain of seventy five thousand dollars. ($25,000.00) as liquidated damages for such breach of agreement.
This agreement shall extend _ unless any or all of the comments herein contained are broken _ for a period of ten years from the date hereof _ and shall be concentrate for a further period of Ten years upon the same terms and conditions at the option of the party of the second part. It is hereby agreed that the [priorities?] of this agreement are binding upon the heirs-executor-administrators and assigns of the parties to these [presents?] _
In witness thereof _ the parties hereto _ have hereinto set their hands and seals the day and year first above matter
In the presence of_
Signed
[S. F.?] Francis _
Signed
Thomas A. Edison Jr (seal)
"
John [illegible]. " ' (Seal)