Luminous and the Company will enter new manufacturing arrangements such that after completion of the LIFX Acquisition, Luminous will continue to manufacture 100% of the existing LIFX smart light products until all outstanding amounts under the LoC are repaid. Following repayment of the LoC, Luminous will continue, for the remainder of the three-year term, to manufacture at least 80% of LIFX's existing smart light products and if won in a competitive bid process, at least 50% of any new LIFX smart light products that come into production post-completion of the LIFX Acquisition.
