First Korean APA Clause Samples

First Korean APA. Subject to Sections 11.1.1(f) (Modified Pricing for Certain SK Products) and 11.1.2 (Pricing of SK Products), for sales made by SK to the Korean Government under the First Korean APA, SK shall pay Novavax a fee incentive of (a) [***] on Net Sales of SK Vaccine Product if total sales of SK Vaccine Product to the Korean Government equals or exceeds [***] doses or (b) [***] on Net Sales of SK Vaccine Product if total sales of SK Vaccine Product to the Korean Government is less than [***] doses. SK will issue a written invoice to the Korean Government (which will be denominated [***]) and [***] provide a copy to Novavax, upon [***]. Upon [***], SK will [***] make payment to Novavax for the corresponding sales fee incentive.
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