Transaction Milestone

Transaction Milestone. Means the Company's execution of one or more strategic partnership or license agreements approved by the Board, in which the Company is reasonably expected to receive within four (4) years of execution at least $30 million (determined in the aggregate, in the case of multiple partnerships or license agreements) in unrestricted cash available for use outside the program(s) subject to the applicable agreements (including all up-front, milestone / option-based payments, and other similar forms of... payments, as well as equity investment funding); provided that such amount may be lowered by the Board in its sole discretion. View More