Common use of Initial Plan Clause in Contracts

Initial Plan. Subject to Section 2.2 and Section 2.3, Development of Shared Products shall be governed by the Development Plan for each of the US Territory and the ROW Territory that, collectively, describe the Development activities to be undertaken with respect to the Shared Products in the Territory, which shall include an annual budget of Development Costs and related Manufacturing Costs and other Allowable Expenses pursuant to Section 3.1(b) (“Development Budget”) and anticipated timelines for performance. Promptly after the Effective Date, but in any event within [***] days thereafter, the Lead US Party (with respect to Development of the Shared Products in the US Territory) and Celgene (with respect to Development of the Shared Product in the ROW Territory) shall each prepare and submit to the JDC for review the applicable portions of a Development Plan for inclusion in an initial global Development Plan for Shared Products, including any activities to be performed by Vividion for U.S. Administration, and such initial global Development Plan for Shared Products shall be subject to review and approval by the JSC. The JDC will review the required form and contents of the Development Plan (which shall be subject to review and approval by the JSC), and will review each Development Plan in accordance with Section 3.1(c). The Development Plan may be amended from time to time by the JDC. The Direct Costs of conducting Development activities in both the ROW Territory and the US Territory in relation to a Shared Product shall be reflected in the Development Budget and allocated and paid as set forth in Section 3.2.

Initial Plan. Subject to Section 2.2 and Section 2.3, Development of Shared Products shall be governed by the Development Plan for each of the US Territory and the ROW Territory that, collectively, describe the Development activities to be undertaken with respect to the Shared Products in the Territory, which shall include an annual budget of Development Costs and related Manufacturing Costs and other Allowable Expenses pursuant to Section 3.1(b3.2(b) (“Development Budget”) and anticipated timelines for performance. Promptly after the Effective Date, but in any event within [***] days thereafter, the Lead US Party (with respect to Development of the Shared Products in the US Territory) and Celgene (with respect to Development of the Shared Product in the ROW Territory) shall each prepare and submit to the JDC for review the applicable portions of a Development Plan for inclusion in an initial global Development Plan for Shared Products, including any activities to be performed by Vividion for U.S. Administration, and such initial global Development Plan for Shared Products shall be subject to review and approval by the JSC. The JDC will review the required form and contents of the Development Plan (which shall be subject to review and approval by the JSC), and will review each Development Plan in accordance with Section 3.1(c3.2(c). The Development Plan may be amended from time to time by the JDCJSC. The Direct Costs of conducting Development activities in both the ROW Territory and the US Territory in relation to a Shared Product shall be reflected in the Development Budget and allocated and paid as set forth in Section 3.23.3.