What does this term mean?

[irock]

I was going through a contract for my friend, and I stumbled upon this term. Anyone knows what this means?

"Merchant shall pay in each month the greater of $0.15 per click or 55% of referral income incurred after such date."

Thanks much.

[Livenomadic]

IANAL but,

It looks like the merchant pays either:

$0.15 per click

OR

55% of referral income

Depending on whichever ammount totals a higher number.

[irock]

Interesting. Thanks for your input.