Common use of First Milestone Clause in Contracts

First Milestone. Within [***] ([***]) days after the date of Satisfactory Completion of the [***] of a Product in [***] by Parent, its Affiliate or a sublicensee, such date being the “First Milestone,” Parent shall pay to the Company Stockholders a non-refundable, non-creditable milestone payment in the aggregate amount of [***] Dollars ($[***]) in cash, less the Setoff Amount and less [***] ([***]) of the Assumed Company Payables, and [***] Dollars *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. ($[***]) payable in shares of Parent Common Stock, based on the Parent Stock Price as of the trading day prior to the date hereof (the “First Milestone Payment Amount”), with such payment allocated among the Company Stockholders in accordance with Section 2.8.

First Milestone. Within [***] ([***]) days after the date of Satisfactory Completion of the [***] first Phase IIb Clinical Trial of a Product in [***] by Parent, its Affiliate or a sublicensee, such date being the “First Milestone,” Parent shall pay to the Company Stockholders a non-refundable, non-creditable milestone payment in the aggregate amount of [***] Dollars ($[***]) in cash, less the Setoff Amount and less [***] ([***]) of the Assumed Company Payables, and [***] Dollars *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. ($[***]) payable in shares of Parent Common Stock, based on the Parent Stock Price as of the trading day prior to the date hereof (the “First Milestone Payment Amount”), with such payment allocated among the Company Stockholders in accordance with Section 2.8.