Additional Description 1
<p><span style='font-size:12pt'><span style='font-family:Aptos,sans-serif'>NYC Tourism + Conventions, Inc., on behalf of the New York City Department of Small Business Services (SBS), has awarded a Sole Source License Agreement (License), pursuant to Section 1-16 of the Concession Rules of the City of New York, to Chapter 4 Corp. d/b/a Supreme (Licensee), whose address is 62 King Street, 3rd Floor, New York, NY 10014, for the non-exclusive use of City-owned trademarks on merchandise. The Agreement shall commence January 1, 2026, and continue through December 31, 2028, unless sooner terminated pursuant to the terms and conditions of the License.</span></span></p><p><span style='font-size:12pt'><span style='font-family:Aptos,sans-serif'>During the initial term, Licensee shall pay to NYC Tourism + Conventions a royalty equal to six percent (6%) of Net Sales when sold at Retail, as well as a one-time guaranteed minimum royalty of twenty-two thousand dollars ($22,000), payable on or before December 31, 2028. </span></span></p><p><span style='font-size:12pt'><span style='font-family:Aptos,sans-serif'>The City, in its sole discretion, shall have the option to renew the License Agreement on substantially the same terms and conditions for a period of two (2) additional years, from January 1, 2029 through December 31, 2030.</span></span></p>