Among the Men’s Wearhouse contracts, you will find a license agreement between The Men’s Wearhouse, Inc. and the George Zimmer 1998 Living Trust. This license agreement licenses two trademarks to George Zimmer’s likeness for $10,000 per year so long as George Zimmer remains an employee of the Men’s Wearhouse, Inc. If George Zimmer ceases to be an employee,the annual fee become $250,000 for a period of four years. The license is renewable at the end of the four year period at the option and sole discretion of the licensee for $250,000 a year.
I also added a new category of succession agreements.