BranchOut Food amends EnWave license: eliminates 2024 minimum royalty, expands product scope

BranchOut Food Inc.

Third Amendment adds additional products for exclusive and non-exclusive licenses under EnWave's technology.
Minimum annual royalty for 2024 eliminated (set to $0); prior year minimums already NIL.
From 2025 onward, exclusivity retention royalty of $250k/year, reduced by earned royalties, payable 30 days after year-end.
Amendment contingent on payment obligations under equipment purchase agreements signed May 23, 2024 and Sept 25, 2023.
Certain terms redacted as confidential, including South American Region definition and additional product details.

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