Common use of Duties of the Management Committee Clause in Contracts

Duties of the Management Committee. The Management Committee shall be responsible for: (a) preparing a detailed schedule of the Assigned Tasks to be performed by each Party, refining and adapting the Development Program budget, the initial version of which is attached as Exhibit C, and analyzing any other anticipated detailed financial expenses to be incurred; (b) scheduling and addressing all aspects of the pharmaceutical, clinical and non-clinical development activities associated with the Development Program, including addressing and procuring the vendors, consultants and Third Parties utilized by each Party in connection with each Party's obligations under the Development Program; (c) organizing all logistics and material support for the performance of the Development Program, it being provided that clinical trials undertaken in connection with the Development Program shall be initiated and performed under the direction and/or supervision of Protea (without Protea being necessarily the sponsor of such studies from a regulatory standpoint), if and to the extent instructed by Protea; (d) following up on the Parties' contributions and the payment of any grants and/or any other public aid, if applicable; (e) monitoring the implementation of the Development Program schedule and the Program Budget; (f) submitting, on a quarterly basis, a scientific, technical and financial progress report on the implementation of the Development Program to the Review Committee. Confidential

Duties of the Management Committee. The Management Committee shall be responsible for: (a) preparing a detailed schedule of the Assigned Tasks to be performed by each Party, refining and adapting the Development Program budget, the initial version of which is attached as Exhibit C, and analyzing any other anticipated detailed financial expenses to be incurred; (b) scheduling and addressing all aspects of the pharmaceutical, clinical and non-clinical development activities associated with the Development Program, including addressing and procuring the vendors, consultants and Third Parties utilized by each Party in connection with each Party's obligations under the Development Program; (c) organizing all logistics and material support for the performance of the Development Program, it being provided that clinical trials undertaken in connection with the Development Program shall be initiated and performed under the direction and/or supervision of Protea (without Protea being necessarily the sponsor of such studies from a regulatory standpoint), if and to the extent instructed by Protea; (d) following up on the Parties' contributions and the payment of any grants and/or any other public aid, if applicable; (e) monitoring the implementation of the Development Program schedule and the Program Budget; (f) submitting, on a quarterly basis, a scientific, technical and financial progress report on the implementation of the Development Program to the Review Committee. Confidential.