Examples of Development in a sentence
As compensation for the Executive’s services hereunder and in consideration of the Executive’s other agreements hereunder, during the Employment Term, the Company shall pay the Executive a base salary, payable in equal installments in accordance with Company payroll procedures, in an amount equal to Executive’s current base salary, subject to annual review by the Management Development and Compensation Committee (the “MDCC”) of the Company’s Board of Directors.
If Xxxxxx uses a Journey Trademark for the Product, Journey shall grant to Maruho an exclusive, sublicensable right to use such Journey Trademark for the Development and Commercialization of the Product in the Field and Territory without any additional consideration and Journey shall prosecute and maintain such Journey Trademark in the Territory at Maruho’s cost.
Development activities involve a plan or design for the production of new or substantially improved products and processes.
Maruho shall maintain records of the Development or Commercialization of the Product in the Territory in sufficient detail and in good scientific manner as shall reflect, to the reasonable extent, work done by Xxxxxx or by a Third Party on Xxxxxx’s behalf and results achieved (the “Records”), including data in the form required under any applicable governmental regulations, as well as Good Manufacturing Practices in the Territory record retention practices.
Development expenditures are capitalized only if development costs can be measured reliably, the product is technically and commercially feasible, future economic benefits are probable, and the Company intends to or has sufficient resources to complete development and to use or sell the asset.