Common use of Exercise Fee Clause in Contracts

Exercise Fee. Upon the Effective Date of this Agreement, TGTX shall pay to Rhizen a fully earned, non-refundable, one-time, up-front license fee equal to the sum of Eight Million Dollars ($8,000,000) (the “Exercise Fee”), which shall be payable fifty percent (50%) in cash and fifty percent (50%) in shares of TGTX Common Stock (the “Exercise Shares”). Upon signature of this Agreement, Rhizen shall provide an original invoice for the TGTX Exercise Fee to TGTX, who shall pay the cash portion of the Exercise Fee within fifteen (15) days of receipt of such invoice.

Exercise Fee. Upon the Effective Date of this Agreement, TGTX shall pay to Rhizen a fully earned, non-refundable, one-time, up-front license fee equal to the sum of Eight Million * Dollars ($8,000,000$ * ) (the “Exercise Fee”), which shall be payable fifty * percent (50( * %) in cash and fifty * percent (50( * %) in shares of TGTX Common Stock (the “Exercise Shares”). Upon signature of this Agreement, Rhizen shall provide an original invoice for the TGTX Exercise Fee to TGTX, who shall pay the cash portion of the Exercise Fee within fifteen (15) days of receipt of such invoice. * Confidential material redacted and filed separately with the Commission.