CREDIT FOR LEAD OPTIMIZATION PROGRAM Sample Clauses

CREDIT FOR LEAD OPTIMIZATION PROGRAM. ArQule agrees to furnish Sear▇▇ ▇▇▇h [*] full-time equivalents ("FTEs") of effort (i.e., the equivalent of [*] person-years of effort) towards a lead optimization program, with details to be agreed by the parties in good faith. Sear▇▇ ▇▇▇ initiate the lead optimization program at any time during the Research Period, but may not initiate the program before the earlier of (i) [*] or (ii) [*]; provided that the program cannot begin until the Parties have agreed upon the details in good faith, including without limitation the terms set forth in this Section. In the event that Sear▇▇ ▇▇▇ceeds with this lead optimization program, (i) Sear▇▇ ▇▇▇l pay ArQule [*], (ii) ArQule will provide [*], and (iii) [*]. In the event that Sear▇▇ ▇▇▇tiates the lead optimization program after [*], ArQule shall have the right to [*]. ArQule agrees that the [*] FTEs of effort includes ordinary laboratory supplies, consumables, and chemical costs, and Sear▇▇ ▇▇▇ees that such effort does not cover extraordinary expenses such as custom chemical monomers that are purchased from a third party or synthesized by ArQule with effort beyond the [*] FTEs of effort and chemical monomers and reagents that cost in excess of the amounts typically expended by ArQule in a lead optimization ------------------- * Confidential treatment has been requested for the marked portion. program of substantially similar scope. The Parties acknowledge that the terms of this initial lead optimization program are not intended to apply to any future lead optimization programs provided by ArQule to Sear▇▇.