Common use of Members; Officers Clause in Contracts

Members; Officers. Immediately after the Effective Date, the Parties shall establish a product development committee (the "Product Development Committee" or "PDC"), which shall consist of an equal number of representatives from each of the Company and BMS, up to a maximum total of eight members on such Committee. Each of the Company and BMS may replace any or all of its representatives on the PDC at any time upon written notice to the other in accordance with Section 16.5 of this Agreement. Such representatives shall include individuals within the senior management of each such Party, and those representatives of each such Party shall, individually or collectively, have expertise in pharmaceutical drug development and/or marketing. Any member of the PDC may designate a substitute to temporarily attend and perform the functions of that member at any meeting of the PDC. The Company and BMS each may, in its discretion, invite non-member representatives of such Party to attend meetings of the PDC. The PDC shall be chaired by a representative of the Company. The secretary of the PDC shall be a representative of BMS.

Members; Officers. Immediately after the Effective Date, the Parties shall establish a product development committee (the "Product Development CommitteePRODUCT DEVELOPMENT COMMITTEE" or "PDC"), which shall consist of an equal number of representatives from each of the Company and BMS, up to a maximum total of eight members on such Committee. Each of the Company and BMS may replace any or all of its representatives on the PDC at any time upon written notice to the other in accordance with Section 16.5 of this Agreement. Such representatives shall include individuals within the senior management of each such Party, and those representatives of each such Party shall, individually or collectively, have expertise in pharmaceutical drug development and/or marketing. Any member of the PDC may designate a substitute to temporarily attend and perform the functions of that member at any meeting of the PDC. The Company and BMS each may, in its discretion, invite non-member representatives of such Party to attend meetings of the PDC. The PDC shall be chaired by a representative of the Company. The secretary of the PDC shall be a representative of BMS.