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January 2, 2013
06:47 EDTTIFTiffany entered into amended agreement with Elsa Peretti on December 27
On December 27, Tiffany & Co entered into an Amended and Restated Agreement with Elsa Peretti. The Agreement amends and restates that certain agreement dated as of February 1, 1997 by and between Tiffany and Ms. Peretti.Since 1974, Tiffany has been the sole licensee for the intellectual property rights necessary to make and sell jewelry and other products under Ms. Peretti’s trademarks. In the Agreement, which largely reflects the long-standing rights and marketing and royalty obligations of the parties, Ms. Peretti grants Tiffany an exclusive license, in all of the countries in which Peretti-designed jewelry and products are currently sold, to make, have made, advertise and sell these items, which are made in conformance to Ms. Peretti’s designs and bear her trademarks. The Agreement has a term of 20 years and is terminable by Ms. Peretti only in the event of a material breach by Tiffany or upon a change of control of Tiffany or the Registrant. In consideration of the rights granted, and the obligations undertaken, by Ms. Peretti in the Agreement, Tiffany made a one-time payment in the aggregate amount of approximately $47M. Ms. Peretti will also receive royalties for use of the Peretti Intellectual Property and fees in respect of certain quality control services Ms. Peretti has committed to providing pursuant to the Agreement. The one-time payment does not serve to reduce future royalties.
News For TIF From The Last 14 Days
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September 15, 2014
18:25 EDTTIFTiffany CEO sells $5.46M shares, Barron's says
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September 11, 2014
09:39 EDTTIFTiffany management to meet with Topeka
Meeting to be held in Boston on September 16 hosted by Topeka.
September 10, 2014
10:00 EDTTIFOn The Fly: Analyst Downgrade Summary
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08:51 EDTTIFTiffany downgraded at Credit Suisse
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06:19 EDTTIFTiffany downgraded to Neutral from Outperform at Credit Suisse
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