Common use of Research Fee Clause in Contracts

Research Fee. As remuneration for preparation and supply of a validated screening assay and the research therefor by Arena, Taisho shall pay to Arena as to EACH receptor as follows: 1. Within thirty (30) days of selection by Taisho of a Taisho Activated Receptor (i.e., within thirty (30) days of the Effective Date as to *****, and within thirty (30) days of selection by Taisho as to an additional Taisho Activated Receptor ********************): *********. 2. Within thirty (30) days of receipt by Taisho of a validated screening assay incorporating a Taisho Activated Receptor and for use by Taisho: *********. 3. Within thirty (30) days of completion of the screening by Taisho of ******** compounds using the validated screening assay incorporating a Taisho Activated Receptor: *********. 4. If and only if Taisho continues the screening using the validated screening assay on and after the ***** anniversary of receipt by Taisho of the validated screening assay, within thirty (30) days of the ****** anniversary of receipt by Taisho of the validated screening assay: ********. Taisho and Arena agree that the MAXIMUM amount of remuneration that Taisho would be required to pay to Arena under Research Fee, in case of selection of ****** (**) Taisho Activated Receptors is: **********. THE REST OF THIS PAGE IS INTENTIONALLY BLANK