Foresight Autonomous : Immediate Report


Autonomous Vehicle News

ARTICLE SOURCE

The Agreement follows that certain cooperation agreement signed on June 16, 2019 and amended on August 15, 2019 between the Parties, pursuant to which Foresight, in accordance with ESL requirements, developed the Foresight Software. The Foresight Software shall be commercialized in the form of a perpetual license per every system or product in which the Foresight Software is sold (the "User License"). Pursuant to the Agreement, ESL shall endeavor to pursue business opportunities for the marketing and sales of the Foresight Software and the Integrated Solutions in the ESL Field. Pursuant to the Agreement, ESL may order from Foresight support and maintenance services for Foresight products, as well as customization services for customization of the Foresight Software for ESL needs (the "Support Services"), upon agreed hour rates. ESL shall pay Foresight an exclusivity fee calculated as a percentage of revenues generated from this cooperation.