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News Breaks | | | | February 14, 2013 | | 18:34 EDT |  | SAAS, SI | inContact amends master reseller agreement with Siemens
inContact (SAAS) disclosed in a regulatory filing that on June 14, 2011, inContact, entered into a master reseller agreement with Siemens Enterprise Communications, a Siemens (SI) joint venture, whereby Siemens became a world-wide distributor/reseller of inContact’s portfolio of hosted solutions. The original term of the agreement was between June 14, 2011 and December 13, 2013. Siemens agreed to the following minimum purchase commitments during the term of the agreement: $5M in net software revenue for calendar year 2012 with quarterly milestones of 15% for Q1, 20% for Q2, 25% for Q3 and 40% for Q4; $10M in net software revenue for calendar year 2013 with quarterly milestones of 15% for Q1, 20% for Q2, 25% for Q3 and 40% for Q4. On February 13, inContact reached an agreement with Siemens to modify the terms of the master reseller agreement. Minimum commitment obligations of Siemens are now as follows: $4.5M in net software revenue for calendar year 2012 with quarterly milestones of $750,000 for Q1, $1M for Q2, $1.25M for Q33 and $1.5M for Q4; $7M in net software revenue for calendar year 2013 with quarterly milestones of $1.75M for each quarter; $3.5M in net software revenue for the six months ended June 30, 2014, with quarterly milestones of $1.75M for the quarters ending March 31, 2014 and June 30, 2014; and $1.5M in net software for the month of July 2014, which may be credited up to $1M for direct sales expenditures made by Siemens to promote our services during the period of January 1, 2013 to March 31, 2014. | |
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News For SAAS;SI From The Last 14 Days Check below for free stories on SAAS;SI the last two weeks. |
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| June 18, 2013 | | 10:49 EDT |  | SI | Siemens seeks private equity offers for Nokia Siemens Networks, Reuters says
 Subscribe for More Information | | | 09:01 EDT | | SAAS | inContact selected by major regional energy provider for cloud center software
Subscribe for More Information | | | June 17, 2013 | | 12:49 EDT | | SI | Siemens closes down the last of its solar businesses, Reuters reports
Subscribe for More Information | | | June 14, 2013 | | 08:38 EDT | | SI | Siemens beats Bombardier for $2.5B train contract
Subscribe for More Information | | | 07:23 EDT | | SI | Siemens considers deal for Nokia Siemens, WSJ reports
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