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Your access to and use of Magzter's website and other Magzter internet and mobile related services as a publisher are subject to the terms and conditions set out in this agreement. Creating a publisher account with Magzter or otherwise using or accessing the Magzter Service will signify your acceptance of these terms and conditions and constitute a binding agreement between you and Magzter. Magzter's acceptance of the Agreement is expressly conditioned on your assent to the terms and conditions set out in this agreement.
This agreement (“Agreement”) is entered into between the publisher named on the cover page (“Publisher”) and Magzter, Inc., at One Rockefeller Plaza, 11th Floor, New York, NY 10020 (Magzter).
1.1.1 This Agreement records the terms and conditions on which Magzter will make Magzter-implemented digitized versions of issues (“Issues”) of the Publisher’s titles of magazines, newspapers, books, newsfeeds, individual articles, videos or other publisher content specified in Exhibit A, and to the extent permitted by this Agreement, versions thereof (“Titles”), available to individual readers, libraries, schools, colleges, hotels, airlines, distributors, institutions, device manufacturers and other third party end-users (“Readers”) on mobile and internet-based smart phones, tablet computers, computers, passenger entertainment system devices and similar electronic devices, including those operating any of the following operating systems—iOS 4.0 or later version (for Apple devices), or Android 1.6 and later versions (for Android/Google Play) or Windows 8 and later versions and their variants or internet browser based devices or such other operating systems as may be notified by Magzter from time to time (“Platforms”), provided that Magzter’s website or other Magzter internet, mobile or other related services can be downloaded or accessed by the Readers on such devices and these include any devices or services that are powered by Magzter System as well.
1.1.2 Publisher may include, among the Titles subject to this Agreement, Titles of its affiliates, provided that Publisher shall remain liable for all Publisher obligations hereunder with respect to such Titles as if such Titles were Publisher’s own Titles, and for ensuring and securing all permissions necessary to grant Magzter all rights to deal with such Titles under this Agreement.
1.2.1 Subject to the other provisions of this Agreement, Magzter will generate each Issue in a format established by Magzter, including converting Publisher’s digital files to said format and enhancing the files, as needed, with table of contents links, hyperlinks, digital reply cards and other metadata.
1.2.2 Publisher shall deliver each Issue to Magzter in accordance with Magzter’s production specifications that are available at http://www.magzter.com/publisher/pdf_specs.html. Magzter may, at its sole discretion, update these production specifications from time to time.
1.2.3 The parties shall work together in good faith to continually improve workflow and better integrate Magzter’s production services with the content (including without limitation Titles, text, links, graphics, photographs, advertisements, audio and video content) delivered to Magzter by Publisher for access and fulfillment to Readers (“Publisher Content”). The goal of such collaborative efforts shall be to reduce the time and expense required to perform the production services.
1.2.4 Publisher shall provide Magzter as much notice as possible regarding any workflow changes Publisher makes.
1.2.5 Publisher shall provide Magzter with any information and technical assistance reasonably required for Magzter to provide the services contemplated by this Agreement.
1.3.1 Magzter shall provide its standard marketing and distribution services for each Issue. These standard services would include distributing the digital editions to Readers through sale, rental, promotions (including distribution schemes such as all-you-can-read schemes) or any other distribution enhancement plans that may be identified by Magzter from time to time, automated updating of content using the Magzter Publisher Dashboard, creating promotional opportunities for Publishers on Magzter’s various distribution networks, creating stand alone Apple/iOS apps and other apps at no cost to the Publisher, giving automated distribution reports, sub account access, ability to give free digital copies to the Publishers readers, etc. Notwithstanding the foregoing, Magzter may, at any time and in its sole discretion, suspend the marketing and distribution of all or any portion of any Title. In such cases, Magzter shall notify Publisher, and the parties shall cooperate to promptly address any issues giving rise to such suspension.
1.3.2 Magzter shall provide customer support to Readers regarding the access & distribution of Issues and the installation of Magzter’s software in accordance with Magzter’s standard customer support practices. Publisher shall retain responsibility for all other customer support, including without limitation Reader subscription inquiries. The parties shall work together in good faith to develop an integrated process for dealing with customer support inquiries received by one party for the other.
2.1.1 Publisher shall determine and specify all Reader pricing and other Reader offer terms applicable to the distribution of annual subscriptions and single Issues of Titles by Magzter, provided that in no event shall Publisher directly or indirectly (whether itself, through authorized resellers or any other third party or otherwise) offer digital editions of Issues for distribution or on terms more favorable to the Reader than those terms offered through Magzter.
2.1.2 Publisher hereby agrees to permit its Titles per Exhibit A below to be included in the Magzter GOLD “ALL YOU CAN READ” fixed-priced membership subscription program.
2.1.3 Publisher hereby agrees to permit Magzter to extract any and all articles from the Titles and publish them on any Magzter Platforms. These articles shall be monetized under the Magzter GOLD platform by including these articles under pages read for each Title.
2.1.4 Publisher shall also determine whether any Issues are to be made available on Magzter without payment by the Reader, including by providing free access to digital versions of an Issue or Title provided to print subscribers (“Free-to-Air”).
2.1.5 Magzter will be entitled to offer Publisher Titles for a FREE 30-day trial. This could involve current or back issues.
2.1.6 The parties may mutually agree that Magzter may, in its discretion, directly or through a designee authorize and clear credit card orders for Titles or Issues and collect and remit funds to Publisher, or integrate with Publisher’s fulfillment processing operations. For any Titles offered by Magzter’s proprietary digital publishing, marketing, sales and distribution software and platform, Magzter shall be entitled to offer Reader discounts up to the same percentage of the fee as is represented by Apple’s transaction fee.
2.2.1 In consideration for the standard production, marketing, customer support and fulfillment services provided by Magzter as specified in clause above, Magzter will retain a Transaction Fee on the purchase, distribution or renewal of all Issue and Title orders that are sourced, distributed, sold or renewed by Magzter across Platforms (“Magzter Distribution”).
2.2.2 For purposes of this Agreement, “Transaction Fee” in relation to each Issue means such percentage of Net Revenue as is specified in Exhibit A in relation to such Title, and where the “Net Revenue” is:
a. the transaction revenue (excluding all applicable sales or other taxes) actually paid to Magzter by the third party licensor of a Platform (e.g., Apple Inc. or Google Inc. or their affiliates) that grants Magzter a license to make its application and other related services available on such Platform (“Platform Licensor”), for Magzter Distributions;
b. less any refunds, cancellations and third party fees for remitting monthly payments; and
c. less any revenue share or fee charged by the Platform Licensor, under a platform license agreement entered into by Magzter and such Platform Licensor (“Platform License Agreement”).
2.3.1 The Magzter system is a self-service system where Publisher can upload Publisher’s Magzter approved file formats to the Magzter service. If Publisher needs customization or enhancements for any Issue or Title, Magzter charges additional fees, which must be agreed by the parties before the customization or enhancement is undertaken.
2.3.2 Magzter shall create stand-alone apps for various platforms such as Apple, Android and Amazon Kindle (as well as any new platforms that enter the marketplace), as per Magzter’s pre-determined app delivery template for FREE. There shall be no further fees for updates or upgrades from the date of creating the app and these costs will be managed solely with the revenue share that is part of this agreement. The date to go live and the approval of the app is subject to approval of said newsstand platforms.
2.3.3 If Publisher requests, and Magzter chooses to perform any services not expressly specified in this Agreement, Publisher shall pay Magzter’s then-current standard time and materials charges for such services, the scope of which would be mutually agreed upon and pricing approved by both parties before the work is undertaken.
2.4.1 The Publisher will be given access to real-time reporting from the Magzter website with adequate password protection of the reports.
2.4.2 Under this Agreement, Magzter will pay Publisher for Magzter Distributions on a quarterly basis, in an amount equal to the Net Revenues less the Transaction Fees.
2.4.3 All payments from Magzter to the Publisher shall be made only after the Net Revenue payable to Publisher crosses US$100. Until such time, the Net Revenue payable to Publisher will be held by Magzter and no interest will be paid for this amount irrespective of the time it takes for such amount reach US$100. Provided that if Publisher requires withdrawal of its share of Net Revenue before the amount reaches US$100, a wire transfer fee of US$40 will be charged to the Publisher.
2.4.4 Interest shall accrue on all payments received after the due date at the rate of the lesser of 1.5% per month or the highest rate allowable by applicable law.
2.4.5 In addition to the other rights and remedies set forth herein and otherwise available at law or in equity to Magzter, in the event Publisher does not pay any amount due and owing to Magzter in accordance with the terms of this Agreement, Magzter shall be entitled to set off any such amounts due and owing against any amounts that Magzter may owe to Publisher.
2.4.6 All amounts are stated in, and all payments shall be made in, United States dollars. All payments under this Agreement shall be made through wire transfer to such accounts as may be identified by the Parties which may be changed by the party receiving the wire upon 15 business days advanced written notice to the party making the wire.
2.4.7 Each party shall be responsible for and shall pay to the applicable governmental authority all sales taxes, value added taxes, and good and services taxes applicable to the distribution of Titles to Readers hereunder that are transacted by such party.
2.4.8 All other federal, state or local use, property, excise, services or other taxes, domestic or foreign, now or hereafter levied attributable to this Agreement, on the provision of Magzter’s services hereunder or on Magzter Distributions (but excluding taxes payable on the net income or revenue of Magzter) shall be borne and paid by Publisher.
2.4.9 Payments shall be made to the following bank accounts of each party.
For Payments to Publisher
Bank Branch & Address:
Name on Bank Account:
Bank Account Number:
For Payments to Magzter
Bank Name: JP Morgan Chase Bank, N.A
Bank Branch & Address: 810, 7th Avenue, New York NY 10019-5818, USA
Name on Bank Account: Magzter Inc.
Bank Account Number: 958437477-Checking Account
SWIFT Code: CHASUS33
Routing Number: 021000021
3.1.1 Publisher retains sole ownership and responsibility for all Publisher Content, including without limitation content included on any Titles or Issues made available on the Magzter System pursuant to this Agreement.
3.1.2 Publisher hereby appoints Magzter as a non-exclusive marketer, reseller and distributor of Titles, Issues and articles and grants to Magzter a non-exclusive, royalty free, worldwide license to commercially exploit the Publisher Content in connection with the marketing, hosting, distribution, access and fulfillment of the Publisher Content to Readers and potential Readers on the devices and Platforms referred to in clause 1.1.1.
3.1.3 Publisher hereby represents and warrants that all Publisher Content provided to Magzter will not infringe the rights of any third party. In the event any third party issues any notice to or makes any claim on Magzter in relation to any Publisher Content, then without limiting Magzter other rights and remedies under this Agreement, at law or in equity, Magzter shall be entitled unilaterally and without prior notice to Publisher, to remove such Publisher Content and to hold Publisher responsible for all costs and consequences thereof.
3.1.4 Magzter shall be entitled to place static or dynamic advertisements in the digital version of the Titles, provided that any net revenue earned by Magzter from such advertisements shall be liable to be shared in the following ratios:
a. If Magzter sources the ads, then Magzter shall retain 80% of the ad revenue and share 20% with the Publisher; and
b. If Publisher sources ads, then Publisher shall retain 80% of the ad revenue and remit 20% of the proceeds from such ad revenue to Magzter.
3.1.5 Magzter shall be entitled to monetize your content via our eCommerce program in the digital version of the Titles, provided that any net revenue earned by Magzter from these initiatives shall share 20% with Publisher.
3.1.6 Magzter shall be entitled to feature Publisher articles as well as videos in any Magzter owned or powered apps including but not limited to Magzter owned stand-alone article-curation app, TWIG which is designed to showcase Publisher content.
3.1.7 Publisher shall immediately notify Magzter if at any time Publisher receives notice of objection from a third party (including any licensor or from a regulatory authority) as to the transfer, collection, processing, or use of any Publisher Content.
3.2.1 Each party (“Licensor”) hereby grants to the other party (“Licensee”) a non-exclusive, royalty free, worldwide license to use its trademarks and logos (“Marks”), including, in the case of Publisher, the trademarks and logos of any of its affiliates and licensors that are implementing Titles or Issues in Magzter’s proprietary digital publishing, marketing, sales and distribution software and platform (“Magzter System”) to distribute, market, promote and provide access and fulfillment services for Titles and Issues as contemplated by this Agreement.
3.2.2 The Licensor may terminate or limit the foregoing license if, in the Licensor’s reasonable discretion, the Licensee’s use of the Licensor’s Marks tarnishes, blurs or otherwise dilutes the quality or goodwill associated with the Marks and such use is not cured within 10 days of receipt of a written notice thereof.
3.2.3 The Licensee shall use the Licensor’s Marks exactly in the form provided and pursuant to any style guidelines communicated to in and shall not take any action inconsistent with the Licensor’s ownership of its Marks.
3.2.4 Title to Licensor’s Marks, and all goodwill associated therewith, remains with the Licensor. Any benefits accruing from use of such Marks, including all goodwill associated therewith, shall automatically vest in the Licensor.
3.3.1 As between the parties, Publisher shall own all right, title and interest in and to the any fulfillment or other data about Readers it provides to Magzter for the purpose of fulfilling Title orders (“Fulfillment Data”).
3.3.2 Subject to the terms of this Agreement, Publisher grants Magzter a non-exclusive license to use the Fulfillment Data to perform its obligations hereunder, and supply marketing materials to Readers in connection with the access and fulfillment of Titles and Issues and at other times.
3.3.3 Publisher shall obtain from Readers sourced by Publisher, permission to supply the Fulfillment Data to Magzter, permission for Magzter to process and use the Fulfillment Data for the purposes of fulfilling the Reader’s purchase and for the other purposes set forth herein, and permission for Magzter to supply marketing materials to such Readers in connection with the access and fulfillment of Titles and Issues and at other times.
3.3.4 Publisher shall immediately notify Magzter if at any time Publisher receives notice of objection from a Reader or from a regulatory authority as to the transfer, collection, processing, or use of the Fulfillment Data.
3.3.5 As between the parties, Magzter shall own all right, title and interest in and to any fulfillment or other data about Readers that Magzter collects from Readers who register for a Magzter account or that Magzter otherwise collects from Readers in connection with this Agreement. The specific subscriber data that Magzter collects about subscribers to the Publisher’s Titles and Issues shall be shared with Publisher through the online sales and distribution dashboard provided on the Magzter System. Publisher is to use this data solely for the purpose directly connected to the specific product purchased by the Reader and for no other commercial matter.
3.4.1 Magzter retains exclusive control over its websites, content and any other digital media it operates, including without limitation the Magzter System and Magzter’s digital viewer and publication stand on any device or platform.
3.4.2 Magzter hosts and manages all data including publication files, user and subscription data in its secure cloud servers (provided by reputed third party vendors identified by Magzter from time to time). This data will be encrypted and securely stored on the servers and daily backups will be taken. The data will be accessed by the Magzter System to deliver a seamless end-user experience and will be handled only by authorized Magzter personnel with the required security clearances.
3.4.3 Magzter may, from time to time create new technologies to benefit publishers, distribution and sales, e.g., creation of white label applications or additional sales or distribution channels via various marketplaces or other services. It is clarified that the licenses granted under this Agreement to Magzter extend to distribution through such applications and sales channels. Magzter will own any and all technology and intellectual property created and used for such applications and distribution channels. The Publisher will have no rights over the intellectual property or the actual technology or technology piece or application created by Magzter for distribution to or provision of services to the Publisher. The Publisher will not create or allow to be created a competing white label app(s) in the same platform or device that Magzter has created its white label apps to sell the Publisher’s titles and issues for the period of this agreement. The Publisher hereby waives all rights and claims over such new technologies and applications created by Magzter even if such technologies or applications are co-branded with content provided by Publisher.
3.4.4 Magzter may, from time to time, come up with new monetization ideas and, as long as Publisher agrees to participate in such new monetization ideas, Publisher shall receive 20% of the revenue share from such program or initiative.
4.1.1 This Agreement shall be effective as of the date on which the Publisher signs or otherwise accepts this Agreement and shall continue for a period of 5 (five) years thereafter, unless terminated in accordance with the provisions of this Agreement.
4.1.2 After the initial term, this Agreement shall automatically renew for additional terms of the same period as the initial term unless either party delivers a termination notice at least 90 days prior to the end of the then-current term.
4.2.1 A party may terminate this Agreement by issuing written notice (“Termination Notice”) to the other party, if the other party breaches its obligations under this Agreement and does not cure such breach within thirty (30) days of being informed of the breach by the party issuing the Termination Notice, or if the other party is subject to any bankruptcy, liquidation, receivership, or administration proceedings filed voluntarily or by a secured creditor or is subject to the appointment of any liquidator or administrator by any competent court or tribunal.
4.2.2 Magzter shall be entitled to terminate this Agreement with respect to all or any Titles or Issues, by issue of a Termination Notice if the Publisher ceases to hold rights to enter into this Agreement with respect to such Titles or Issues.
4.3.1 The expiration or termination of this Agreement shall not affect the rights of a party accrued prior to such termination.
4.3.2 Upon termination or expiration of this Agreement, Magzter will cease distribution of the Titles and Issues, but the parties mutually agree to extend this Agreement to allow Magzter to complete then existing subscription orders (in which case all licenses hereunder shall be deemed to survive termination or expiration for this limited purpose). Even in the case of termination, the Publisher agrees to make available to Magzter all the titles and issues that have unfinished subscriptions as on the date of the termination even though the titles and issues are removed from distribution. Magzter shall also continue to manage and maintain all white label apps for the same period above to fulfill unfinished subscriptions.
4.3.3 The termination or expiration of this Agreement for any reason shall not terminate the obligation of one party to pay any amount due to the other party in respect of all periods through the date of termination or expiration. In addition, any terms of this Agreement that by their nature are intended to survive expiry or termination (such as provisions in relation to payment obligations, rights in intellectual property, these provisions on the effects of expiry or termination, remedies, governing law and jurisdiction and non-solicitation) shall survive such expiry or termination.
5.1.1 Publisher shall indemnify, defend and hold harmless Magzter, its affiliates and resellers, and their respective officers, directors, employees, and agents from all claims and threatened claims by any third party, including employees, and costs, damages or other losses suffered or arising out of, under or in connection with any act or omission of Publisher or its employees that is a breach of any provision of this Agreement or any representation provided by the Publisher under this Agreement, or that relates to the use of the Titles, the Publisher Content or delayed compliance or any failure to comply with any law, regulation, judgment, decree, award or contractual obligation applicable to or otherwise required to be observed or fulfilled by Publisher.
5.1.2 Magzter shall indemnify, defend and hold harmless Publisher, its affiliates and their respective officers, directors, and employees, from all claims and threatened claims by any third party, including employees, and costs, damages or other losses suffered or arising out of, under or in connection with any act or omission of Magzter or its employees that is a breach of any provision of this Agreement or any representation provided by Magzter under this Agreement, or that relates to the use of the Magzter System or delayed compliance or any failure to comply with any law, regulation, judgment, decree, award or contractual obligation applicable to or otherwise required to be observed or fulfilled by Magzter.
5.1.3 A party shall be entitled to all reasonable attorneys’ fees and costs in connection with enforcing any provision of this Agreement.
MAGZTER DISCLAIMS ALL WARRANTIES AND CONDITIONS (EXPRESS, IMPLIED OR STATUTORY), INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF TITLE, NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
5.3.1 In no event shall Magzter, its affiliates and resellers, and their respective officers, directors, employees, or agents be liable to Publisher, its affiliates and their respective officers, directors, and employees for any special, indirect, reliance-based, incidental, punitive or consequential damages of any kind, loss of goodwill, diminution in value, lost profits or lost revenue, whether arising in contract, tort (including negligence) or otherwise, even if Magzter, its affiliates or resellers, or their respective officers, directors, employees, or agents have been notified of the possibility thereof.
5.3.2 The aggregate liability of Magzter, its affiliates and resellers, and their respective officers, directors, employees, and agents for claims arising under or in any way in connection with this Agreement shall be limited to the fees paid to and retained by Magzter hereunder during the 12 month period immediately preceding the event or circumstances giving rise to the liability.
Except for the obligation to pay monies due and owing, neither party shall be liable for any delay or failure in performance due to events outside the defaulting party’s reasonable control, including without limitation acts of God, actions of governmental entities, riots, war, terrorism, fire or epidemics. The obligations and rights of the defaulting party shall be extended for a period equal to the period during which such event prevented such party’s performance.
All notices under this Agreement shall be in writing, and shall be deemed given when personally delivered or sent by confirmed electronic mail, or after five (5) days after being sent by prepaid certified or registered mail or internationally recognized courier to the address of the party to be notified as set forth herein or such other address as such party last provided to the other by written notice.
This Agreement is subject to the terms and conditions of the Platform License Agreement, entered into by Magzter with the relevant Platform Licensor for use of each Platform such as Apple, Google, and others. In the event of any conflict between the provisions of this Agreement and the Platform License Agreement, the provisions of the Platform License Agreement shall prevail.
Magzter shall be entitled to perform all or any of the services contemplated by this Agreement directly or through its affiliates or third party sub-contractors in such manner as Magzter deems fit, and any licenses granted hereunder shall correspondingly extend to such affiliates and third party sub-contractors to the extent necessary to perform such services, subject always to the provision of this Agreement.
Magzter and Publisher’s relationship hereunder shall be as independent contractors to each other and not as agents, employees, joint ventures or partners of the other. Nothing in this Agreement shall, or shall be deemed to, constitute a partnership, consignor-consignee or employer-employee relationship between the parties or to constitute any party as the agent or trustee of the other for any purpose.
6.6.1 The Platform Licensor may update the terms of such Platform License Agreement from time to time. This Agreement shall be amended by Magzter to reflect such changes (“Platform License Changes”) as and when required and the Publisher shall be notified of the same. If Publisher does not respond within seven days of receipt of the Platform License Changes, the Publisher shall be deemed to have accepted such changes.
6.6.2 Magzter reserves the right to change its fees giving a notice of one month to the Publisher. If Publisher does not respond within seven days of receipt of the fee changes, the Publisher shall be deemed to have accepted such changes.
6.6.3 Unless otherwise expressly provided in this Agreement, no alteration of the terms and conditions of this Agreement shall be effected unless agreed by both parties. Magzter shall have the right to amend this agreement by giving notice via electronic email to the registered email id of the publisher in the Magzter system. If Publisher does not respond within seven days of receipt of the fee changes, the Publisher shall be deemed to have accepted such changes. If the Publisher does not agree to the changes, the Publisher has to notify Magzter of the same within 7 days of receipt of the above mentioned electronic mail failing which the Publisher will be then governed by updates proposed via the email.
Any party’s failure to enforce its rights under this Agreement at any time for any period shall not be construed as a waiver of such rights. A waiver may only occur in a writing signed by the party waiving a term or condition.
In the event that any provision of this Agreement shall be determined to be illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and enforceable.
6.9.1 The validity, interpretation, and performance of this Agreement shall be controlled by and construed under and in accordance with the laws of the State of New York, without giving effect to the principles of conflicts of law.
6.9.2 The courts in the State of New York shall have exclusive jurisdiction over any claims, controversies or disputes arising under this Agreement. Both parties to this Agreement consent to the jurisdiction of such courts.
During the term of this Agreement and for a period of one (1) year after termination, neither party shall solicit or otherwise offer employment to any employee or consultant of the other party.
This Agreement and the Services contemplated hereunder are personal to Publisher and Publisher shall not have the right or ability to assign, transfer, delegate or subcontract any rights or obligations under this Agreement without the written consent of Magzter. Any attempt to do so shall be void. Magzter shall be entitled to assign its rights or delegate its obligations hereunder to any third party at any time.
The recipient of any Confidential Information will not disclose that Confidential Information except to affiliates, employees, agents and professional advisors who need to know the same and who have agreed in writing (or in the case of professional advisors are otherwise bound) to keep the same confidential. The recipient will ensure that all such persons use such Confidential Information only to exercise rights and fulfil obligations under this Agreement, and use reasonable care to protect the same. The recipient may also disclose Confidential Information when required by law after giving reasonable notice to the discloser, if permitted by law. “Confidential Information” means any and all information disclosed by (or on behalf of) one party to the other party under (or in connection with) this Agreement, but in any event, Confidential Information does not include information known by the recipient prior to such disclosure, information that becomes public through no fault of the recipient, and information that was independently developed by recipient or was lawfully provided to the recipient by a third party, in each case as documented by contemporaneous written records.
No provision of this Agreement shall be construed against a party on the ground that it drafted or its agents drafted such provision.
|Sl. No.||Name of Title||Number of pages
|Transaction Fee (Percentage of Net Revenue)|
The following examples illustrate the application of the Magzter Share of Net Revenue. These examples are illustrative only and do not create binding obligations on any party.
If an end-user acquires a Title using an Apple device for Apple Newsstand or an Android device for Google Play (assuming no other deductions to arrive at Net Revenue), the shares of Net Revenue would be arrived at as follows.
|End user price paid to Apple/Android||Apple share retained by Apple/Android*||Magzter share (50% of Net Revenue)||Publisher share of Net Revenue (Balance)|
If an end-user acquires a Title on Magzter’s website (assuming no other deductions to arrive at Net Revenue), the shares of Net Revenue would be arrived at as follows.
|End user price paid on Magzter website||Share retained by payment provider*||Magzter share (50% of Net Revenue)||Publisher share of Net Revenue (Balance)|
* - the amount retained by Apple, Google, windows, web and other platforms are subject to change
Terms and Conditions within this Agreement are valid for 90 days from the date listed above.