Common use of Research and Development Program Clause in Contracts

Research and Development Program. Utilizing its Best Efforts and with the assistance of THERAPEUTICS, INNOVATIVE will establish an integrated Development Plan for the implementation of research and development programs for all Category III SDC Product(s) evaluated and identified under Section 3.3(a) that, in its exercise of sound business judgment, it deems worth pursuing. The Development Plan, with mutually agreed-upon performance standards and criteria, including time and event scheduling, will identify potential SDC Personal Care candidates under Category III, as set forth in Section 3.0, for development and THERAPEUTICS shall collaborate and assist INNOVATIVE in identifying Category III SDC Product candidates. Upon evaluation, identification and approval by the EMC of such Category III SDC products, INNOVATIVE will conduct or have conducted all product development, as more fully set forth in Section 3.0 hereof and bear full responsibility for all studies associated with the research and development of all Category III SDC Product(s) exclusive of products categorized by the FDA as OTC drug products The product development of the aforementioned OTC products is the responsibility of THERAPEUTICS. W02-W97-oc:LGA\41332973.5 FINAL DEVELOPMENT AND LICENSING AGREEMENT CONFIDENTIAL DATED SEPTEMBER 5, 2003 BY AND BETWEEN INNOVATIVE MEDICAL SERVICES AND THERAPEUTICS, INC. Page 15 OF 43