Common use of Minimum Annual Royalties Clause in Contracts

Minimum Annual Royalties. Company will pay minimum annual royalties for the term of this Agreement, to be creditable against running royalty payments for the preceding calendar year on a non- cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of the year following the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 Year 2 $XX,000 Year 3 and each year after $XX,000

Minimum Annual Royalties. Company will pay minimum annual royalties for the term of this Agreement, Agreement to be creditable against running royalty payments for the preceding calendar year on a non- non-cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of following the first full calendar year following after the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 [***] after first commercial sale [***] Year 2 $XX,000 [***] after first commercial sale [***] Year 3 [***] after first commercial sale and each year after $XX,000[***]

Minimum Annual Royalties. Company will shall pay minimum annual royalties for the term of this Agreement, Agreement to be creditable against running royalty payments for the preceding calendar year on a non- non-cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of the year following the first commercial sale third anniversary of a Licensed Product the Effective Date and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 Year 2 $XX,000 Year 3 and each year after $XX,000:

Minimum Annual Royalties. Company will pay minimum annual royalties for the term of this Agreement, Agreement to be creditable against running royalty payments for the preceding calendar year on a non- cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of following the first full calendar year following after the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 [***] after first commercial sale [***] Year 2 $XX,000 [***] after first commercial sale [***] Year 3 [***] after first commercial sale and each year after $XX,000[***]

Minimum Annual Royalties. Company will as well as each of its Sublicensees shall pay minimum annual royalties of [XXX] for the term of this Agreement, Agreement to be creditable against running royalty payments for the preceding calendar year on a non- non-cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of the second year following the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 Year 2 $XX,000 Year 3 and each year after $XX,000Agreement.

Minimum Annual Royalties. Company will as well as each of its Sublicensees shall pay minimum annual royalties of [**] for the term of this Agreement, Agreement to be creditable against running royalty payments for the preceding calendar year on a non- non-cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of the second year following the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Calendar Year Minimum Annual Royalty Year 1 $XX,000 Year 2 $XX,000 Year 3 and each year after $XX,000Agreement.