Lead Milestones. [***] Indicates portions of this exhibit that have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. (i) Bionics will pay the Company $100,000 after the Company has successfully created the Lead meeting the Lead Requirements as demonstrated to Bionics’ reasonable satisfaction. (ii) Bionics will pay the Company $100,000 after the Company has successfully completed the first live chronic human implantation of the Lead meeting the Lead Requirements as demonstrated to Bionics’ reasonable satisfaction. (iii) Bionics will pay the Company $1,000,000 after Bionics has successfully received FDA approval of the Lead meeting the Lead Requirements as demonstrated to Bionics’ reasonable satisfaction.
Appears in 4 contracts
Samples: System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Surgivision Inc)
