Incremental Royalty

Incremental Royalty. Means an incremental royalty expressed as a percentage of Net Revenue, calculated using the following formula: [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission. ERS-XiMo Confidential [***], where XiMo Developed Catalyst Productivity is defined as the direct Developed Catalyst cost in U.S. dollars per ton of Covered Product produced.