VUZIX CORPORATION (NASDAQ:VUZI) Files An 8-K Other Events
Item 8.01 Other Events.
On March 7, 2019, Vuzix Corporation (the “Company”) entered into a master reseller agreement with Verizon Sourcing LLC (“Verizon”). The agreement sets forth the general terms and conditions, including with respect to product quality, product changes, deliveries, and pricing, to which the Company will sell to Verizon, Verizon affiliates and sub-resellers the Company’s smart glasses products including Vuzix M300XL Smart Glasses and M-Series related accessories, Vuzix Blade Smart Glasses and Vuzix Basics Video. Any such sales will be made to purchase orders which Verizon may submit at its discretion. The master reseller agreement has an initial term of three years, subject to Verizon’s right to terminate at any time in its discretion and the right of either party to terminate under certain conditions.
The Company expects to start receiving purchase orders under the master reseller agreement in the second quarter of 2019.