|J. & E. Stevens Co. — Gymnast Savings
Agreement with Edward L. Morris —
Agreement by and between Edward L.
Morris of Boston, Mass., of the first part and The J. & E. Stevens
Co., of Cromwell, Conn., of the second part.
Whereas said Morris is the owner of a certain invention known
as the Gymnast Saving Bank, he hereby agrees to patent the same and
to lease his patent to the said J. & E. Stevens Co. for the term of
five years from the date of this agreement.
The said J. & E. Stevens Co. agree to use their best efforts to
procure an extensive sale for the said invention and to pay to said
Morris as royalty upon the same (provided the Patent is obtained)
the sum of Thirty-five Cents (35c) per dozen, returns to be made
semi-annually, July 1st and Jan 1st.
It is further agreed that should the said J. & E. Stevens Co.
at any time persistently fail to comply with the stipulations above
cancel all rights to the said invention shall thereupon revert to
Edward L. Morris.
In presence of
R. S. Griswold The J. & E. Stevens Co.
Feby. 8, 1883 E. S. Coe, Tr