Milestone Fee. BIG shall pay STELLAR a milestone fee in the amount of two hundred and fifty thousand US Dollar (250,000 US $) payable within one (1) month upon confirmation by BIG or BIG Affiliates of (the following conditions hereinafter together the “Milestone”): 1. the feasibility of increasing the KLHsu yield (starting from a 5 gram quantity of ASP KLH starting material) to a yield of approximately 60% (but not less than a 50% yield) KLHsu. 2. with a method that is supported by appropriate Standard Operating Procedure (SOP´s) for method qualification and validation in accordance with regulatory requirements, and 3. yielding to KLHsu proteins that are suitable for the NHL-Vaccines. For the avoidance of doubt BIG does not have to pay STELLAR this fee if the Milestone is not achieved within the duration of this Agreement pursuant to paragraph 9.1.
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Sources: Research Collaboration Agreement (Stellar Biotechnologies, Inc.), Research Collaboration Agreement (Stellar Biotechnologies, Inc.)