LivingSocial Payment Schedule

Subject to the other terms of the Merchant Agreement, Groupon shall remit to Merchant the Net Remittance Amount for each Merchant Offering according to the following schedule. For Vouchers sold commencing on the first day Groupon begins to promote the Merchant Offering(s) until fourteen (14) calendar days following the start of the promotion (“Initial Feature Date”), Groupon will remit eighty percent (80%) of the Net Remittance Amount earned therein, less any returns and refunds, within ten (10) business days after the end of the Initial Feature Date (“Initial Merchant Payment”). For Vouchers sold following the Initial Feature Date, for each fourteen (14) calendar day period following the Initial Feature Date (“Additional Feature Date”), Merchant will pay eighty percent (80%) of the Net Remittance Amount earned therein, less any returns and refunds (“Continuing Merchant Payment”), as well as any remaining balance of the Net Remittance Amount for any Merchant Offering for which the Promotional Value Expiration Date has passed during such Additional Feature Period (i.e., for each eligible Merchant Offering, the remaining twenty percent (20%) of the Net Remittance Amount earned in the Initial Feature Date and each Additional Feature Date, less any returns and refunds (“Remaining Merchant Payment”) to Merchant’s account within ten (10) business days after the end of each Additional Feature Date.