Minimum Royalty Reconciliation Payment

Minimum Royalty Reconciliation Payment. Means the amount to be paid Collegium that is equal to the difference between the Minimum Annual Royalty Payment (as set forth in Exhibit C) for the Launch Year or a given Calendar Year and the royalty due to Collegium in such Launch Year or Calendar Year in accordance with Section 7.2. For the sake of clarity, if the Minimum Annual Royalty Payment is $1,000,000 and the royalty due to Collegium in such Calendar Year is $800,000, the Minimum Royalty Reconciliation payment is $200,000.