Common use of Development Milestones Clause in Contracts

Development Milestones. Company shall pay to BMS the following one-time milestone payments set forth in the table below within [***] after the first achievement of the specified milestone event by Company, its Affiliates, and Sublicensees for the first Licensed Product to achieve such milestone event. Company shall provide written notice to BMS within [***] after the first achievement of the specified milestone event by Company, Affiliates, and Sublicensees. Each milestone payment shall not be refundable or returnable in any event, nor shall it be creditable against royalties or other payments: [***] For purposes of this Section: (i) The set of milestone payments in the table above shall be payable by Company to BMS upon the first achievement of each such milestone event for the first Licensed Compound to achieve the milestone event. (ii) For each additional Licensed Compound that subsequently achieves the same milestone event that the first Licensed Compound achieved, the milestone payment for such additional Licensed Compound shall be (1) fifty percent (50%) of the payments set forth in the above table and (2) subject to credit or deferral as set forth in clause (iii) below. (iii) If Development is discontinued for a Licensed Compound before the Regulatory Approval(s) is obtained in the U.S., the EU or Japan for that Licensed Compound, the milestone payments achieved for the next most advanced subsequent Licensed Compound in Development, will be waived for any previously paid milestone payments for that discontinued Licensed Compound. Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. (iv) [***]. (v) [***]. (vi) [***]. (vii) [***]. (viii) [***]. (ix) [***]. (x) [***]. (xi) [***]. (xii) [***].

Development Milestones. Company (A) The Licensee shall pay to BMS the following one-time milestone payments set forth in the table below notify Ascendis within [***] after of the first achievement satisfaction of the specified milestone event by Company, its Affiliatesapplicable development milestones under sections [***] below, and Sublicensees for the first Licensed Product to achieve such milestone event. Company shall provide written notice to BMS within [***] after of the first achievement satisfaction of the specified milestone event by Company, Affiliates, and Sublicensees. Each milestone payment shall not be refundable or returnable in any event, nor shall it be creditable against royalties or other payments: applicable commercialisation milestones under sections [***] below, with the first Licensed Product in a particular Class for each Target. For purposes example, if the Licensee develops a particular Licensed Product to a Target, which Licensed Product incorporates a Large Molecule, and pays development milestones [***], no payment shall be due under such development milestones on the Licensee’s development of this Section:another Licensed Product to the same Target, which Licensed Product incorporates a Large Molecule, including the same or different Large Molecule. Likewise, if the Licensee develops a particular Licensed Product to a Target, which Licensed Product incorporates a Large Molecule, and pays development milestones [***], payment shall be due under such development milestones on the Licensee’s development of another Licensed Product to the same Target, which Licensed Product incorporates a Small Molecule or a Polypeptide. (i) The set of milestone payments in the table above shall be payable by Company to BMS upon the first achievement of each such milestone event for the first Licensed Compound to achieve the milestone event. (ii) For each additional Licensed Compound that subsequently achieves the same milestone event that the first Licensed Compound achieved, the milestone payment for such additional Licensed Compound shall be (1) fifty percent (50%) of the payments set forth in the above table and (2) subject to credit or deferral as set forth in clause (iii) below. (iii) If Development is discontinued for a Licensed Compound before the Regulatory Approval(s) is obtained in the U.S., the EU or Japan for that Licensed Compound, the milestone payments achieved for the next most advanced subsequent Licensed Compound in Development, will be waived for any previously paid milestone payments for that discontinued Licensed Compound. Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and [***] (ii) would be competitively harmful if publicly disclosed.[***] [***] (iii) [***] [***] (iv) [***] [***]. (v) [***] [***]. (vi) [***] [***]. (vii) [***]] [***] Total milestones One Hundred Million US Dollars ($100,000,000) (B) Milestones paid for Other Licensed Products shall be paid at [***] of the amounts indicated in the table above. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. (viiiC) Where any development milestone [***] for a Licensed Product in a particular Class and Target is not achieved before the next development milestone is achieved, the sum of the milestone payments due for both the non-achieved and the achieved development milestone shall be paid to Ascendis for such Licensed Product. For example, should a Licensed Product go directly to development milestone [***] without going through development milestone [***]. (ix) , the sum of the milestone payments due for development milestone [***]. (x) ] and development milestone [***]. (xi) ] would be payable to Ascendis upon achievement of development milestone [***]] for such Licensed Product. (xiiD) In any event, the total development milestones shall not exceed One Hundred Million US Dollars ($100,000,000) per Class and Target for a Ranibizumab Licensed Product and Eighty Million US Dollars ($80,000,000) per Class and Target for any Other Licensed Product. (E) Following receipt by Ascendis of notice in accordance with Clause 7.3(A), Ascendis shall submit an invoice to the Licensee for the amount of such development milestone payment, and the Licensee shall pay the respective payment for such event within [***]] after receipt of such invoice from Ascendis. All invoices shall identify the associated Licensed Product, the fee being invoiced and the description of the milestone event. Unless otherwise requested by the Licensee in writing, Ascendis shall send invoices to Genentech at the address in the preamble of this Agreement, to the attention of Finance Manager, Business Development, M/S 53.

Development Milestones. Company Eiger shall pay to BMS the following one-time milestone payments set forth in the table below within [***[ * ] after the first achievement of the specified milestone event by CompanyEiger, its Affiliates, and Sublicensees for the first Licensed Product to achieve such milestone eventevent in any Indication. Company Eiger shall provide written notice to BMS within [***[ * ] after the first achievement of the specified milestone event by CompanyEiger, Affiliates, and Sublicensees. Each milestone payment shall not be refundable or returnable in any event, nor shall it be creditable against royalties or other payments: [***. [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] Total Development Milestones for First Indication [ * ] For purposes of this Section: (i) A [ * ] means that [ * ]. (ii) The set of milestone payments in the table above shall be payable by Company Eiger to BMS once per Indication upon the first achievement of each such milestone event for the first such Licensed Compound (whether the first such Licensed Compound is the lead Licensed Compound or any back-up Licensed Compound) to achieve the milestone event. (ii) For each . Milestones payments for additional Licensed Compound Indications that subsequently achieves achieve the same milestone event that the first Licensed Compound achieved, the milestone payment above milestones events for such additional Licensed Compound shall Indication will be (1) fifty percent (50%) at [ * ] of the payments set forth in above milestone payment amounts for the above table and (2) subject to credit or deferral as set forth in clause (iii) belowfirst Indication. (iii) If Development a particular milestone event is discontinued for a Licensed Compound before not achieved with respect to an Indication (“Skipped Milestone”), such Skipped Milestone will be deemed to have been achieved upon the Regulatory Approval(s) is obtained in the U.S., the EU or Japan for that Licensed Compound, the milestone payments achieved for occurrence of the next most advanced subsequent Licensed Compound in Developmentsuccessive milestone with respect to such Indication, will and payment for such Skipped Milestone then shall be waived for any previously paid milestone payments for that discontinued Licensed Compound. Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly discloseddue. (iv) [***]For purposes of this Section 8.2.1, “Indication” shall mean any separately defined, well-categorized class of human disease, syndrome or medical condition for which a separate marketing authorization application may be filed with a Regulatory Authority. (v) [***]. (vi) [***]. (vii) [***]. (viii) [***]. (ix) [***]. (x) [***]. (xi) [***]. (xii) [***].