Benchmark Royalties Clause Samples

Benchmark Royalties. Licensee agrees to pay PHS a benchmark royalty of Twenty Thousand U.S. Dollars (USD $20,000) within thirty (30) days of receiving U.S. Food and Drug Administration approval of using the Licensed Process for administering Drug in the treatment of gliomas. PHS and Licensee agree to the following modifications to the Articles and Paragraphs of this Agreement: N/A

Benchmark Royalties. Licensee agrees to pay PHS benchmark royalties as follows: Upon filing of the first application for regulatory approval to conduct a clinical trial in humans anywhere in the Licensed Territory utilizing and/or directed to Licensed Products and/or Licensed Process(es) - Twenty-Five Thousand ($25,000.00) U.S. Dollars. At the completion of the First Phase I Clinical Trials in humans anywhere in the Licensed Territory utilizing and/or directed to Licensed Products and/or Licensed Process(es) - Fifty Thousand ($50,000.00) U.S. Dollars. At the completion of the First Phase II Clinical Trials in humans anywhere in the Licensed Territory utilizing and/or directed to Licensed Products and/or Licensed Process(es) anywhere in the Licensed Territory - Seventy- Five Thousand ($75,000.00) U.S. Dollars. At the initiation of the first Phase III Clinical Trials in he as anywhere in the Licensed Territory utilizing and/or directed to Licensed Products and/or Licensed Process(es) - One Hundred Thousand ($100,000.00) U.S. Dollars. Upon filing of the first application for marketing approval anywhere in the Licensed Territory utilizing and/or directed to Licensed Produces and/or Licensed Process(es) -Two Hundred and Fifty Thousand Dollars ($250,000.00) U.S. Dollars. Upon each additional rnarketing approval in a major market (e.g., the United States of America, Canada, Europe, Japan, etc.) utilizing and/or directed to Licensed Product and/or Licensed Process(es) - Five Hundred Thousand ($500,000.00) U.S. Dollars. SUBLICENSING ROYALTIES:

Benchmark Royalties. The Licensee agrees to pay the IC Benchmark royalties within [***] ([***]) days of achieving each Benchmark: