DEVELOPMENTAL MILESTONE PAYMENTS

DEVELOPMENTAL MILESTONE PAYMENTS. Shall mean any payment for the demonstration of substantial technical progress, performance, capability or discovery as relates to progress toward implementing a LICENSED PRODUCT or LICENSED PROCESS under a research, development, testing, collaboration or co-development arrangement as documented by delivery to the payor of a written report including payments for introduction of products to market and completion of clinical trials which is in excess of RESEARCH COST REIMBURSEMENTS. Portions of... this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company's application requesting confidential treatment under Rule 406 of the Securities Act. 5 View More