Common use of Exercised Options Clause in Contracts

Exercised Options. As of the Effective Date of this Agreement, Lilly has ----------------- exercised the following options (the "Exercised Options"): ------- (a) An option (the "Oral PTH Option") to an exclusive worldwide (the --------------- "Territory") license to make and use the Emisphere Technology to develop --------- products (the "Oral PTH Products") to deliver PTH by the Oral Route. The terms ----------------- of that agreement are set forth in the 1998 Oral License Agreement, and the license supplement attached hereto as Appendix 1. (b) An option (the "Oral HGH Option") to an exclusive license in the --------------- Territory to make and use the Emisphere Technology to develop products (the "Oral HGH Products") to deliver Lilly's HGH by the Oral Route. The terms of that ----------------- agreement are set forth in the 1998 Oral HGH License Agreement, and the license supplement attached hereto as Appendix 3. (c) The work done under this Agreement is related to the Research and Development Programs called for in Clause 5 of the agreements set forth in Sections 2.1 (a) and (b). The terms in these Oral HGH and PTH License Agreements shall supersede any terms of this Agreement that are in conflict therewith, except as noted in Appendix 3.