The Hartman, Keagy and Young Agreements

There was an ongoing relationship between Thomas L Hartman, EJW Keagy and HM Young dating back to at least 1931 prior to the Reymers agreement with EJW Keagy of 1932, Hartmand plan to apply for a patent on said device
For financial assistance Hartman grants one third interest to Keagy and one third interest to Young in both ownerhsip and revenues from the dispenser
The agreement goes on to say that should Reymers Brothers enter into a license agreement on the dispenser than Keagy would forfeit his one-third interest and royalties would be granted at 60-percent for Mr Hartmand and 40-percent for Mr Young.
It also calls for a 5-percent royalty from Reymers Brothers should an agreement be eecuted for the dispenser.
In additional should an agreement not be reached with Reymer Brothers than Clarence Grabe be paid Royalties not to exceed $400.00 a year for services rendered,
On April 25, 1936 Reymer Brothers Entered into a contractual agreement for the Hartman application,
It was entered into following a 1935 agreement between Young Hartman and Keagy which eliminated Keagy from receiving royalties from the dispensers themselves. But at the same time he was the only one receiving royalties from the Lem-N-Blennd that went through those dispensers.
Hartman and Youngs agreement with Reymer Brothers called for the pair to produce 50 dispnsers at a price not to exceed $3750.00
It called for Young and Hartman to be paid royalties on gross sales during the year of 1936 and each successive year after that
5% of the first $250,000.
4% upton $500,000.
3% upton $750,000.
2% upto 1,000,000.
1% over 1,000,000.

Categories: Your Memories of Blennd | 15 Comments

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