CyberloQ (CLOQ) signs 12‑month Relevate AI licensing and commission pact
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
CyberloQ Technologies entered into a material agreement with Relevate AI to integrate CyberloQ’s multi-factor security protocol as an authentication option within Relevate’s platform.
Under the agreement, Relevate will pay CyberloQ a monthly license fee of $750 plus a 10% commission on each user. Relevate’s platform pricing is $50 per user per month, which translates to a $5 commission to CyberloQ for closed sales opportunities it initiates. CyberloQ will also pay Relevate a 10% commission on sales opportunities CyberloQ closes that were initiated through Relevate. The agreement runs for twelve months, after which both parties will review and decide whether to continue.
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8-K Event Classification
Item 1.01 — Entry into a Material Definitive Agreement
1 item
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
FAQ
What agreement did CyberloQ Technologies (CLOQ) enter into with Relevate AI?
CyberloQ Technologies entered into a twelve-month agreement with Relevate AI to integrate CyberloQ’s multi-factor security protocol as an authentication option within Relevate’s platform, creating a licensed, recurring revenue and commission-sharing arrangement between the two companies.
How will CyberloQ Technologies (CLOQ) be compensated under the Relevate AI agreement?
CyberloQ will receive a $750 monthly license fee from Relevate AI plus a 10% commission per user. With Relevate’s pricing at $50 per user per month, CyberloQ earns a $5 commission on each closed sales opportunity it initiates through Relevate’s platform.
What commissions will Relevate AI receive in its agreement with CyberloQ Technologies (CLOQ)?
Relevate AI will receive a 10% commission on any sales opportunities that CyberloQ closes with customers when those opportunities were initiated through Relevate. This creates a reciprocal commission structure linked to which party originates the customer opportunity.
What is the term of the CyberloQ Technologies (CLOQ) and Relevate AI agreement?
The agreement between CyberloQ Technologies and Relevate AI has a term of twelve months. After the initial term, the parties will review the arrangement and decide together whether to continue the agreement based on their experience and results.
How is the per-user commission from Relevate AI to CyberloQ Technologies (CLOQ) calculated?
Relevate AI charges $50 per user per month for its platform. CyberloQ earns a 10% commission per user on closed sales opportunities it initiates, which equals $5 per user per month, in addition to the fixed $750 monthly license fee from Relevate.