Common use of Milestone Event/Payment Table Clause in Contracts

Milestone Event/Payment Table. The Milestone Events and Milestone Payments to be made pursuant to Section 3.1(b) (Milestone Payments) shall be as follows: Milestone Event Milestone Payment (USD) [***] $ [ ***] [***] $ [ ***] [***] $ [ ***] [***] $ [ ***] Milestone Event Milestone Payment (USD) [***] $ [ ***] [***] $ [ ***] [***] $ [ ***] [***] $ [ ***] First calendar year in which annual Net Sales of Licensed Product exceeds $[***] $ [ ***] At Katmai’s election, the [***] dollar ($]) payment for [***] may be paid entirely in cash or as a [***] ($[***]) cash payment and Katmai’s right to invest [***] dollars ($[***]) in Erasca’s next Subsequent Financing at a price per share which is pari passu to all other investors who participate in the Subsequent Financing. Katmai’s shares shall have the rights and obligations set forth in the then-effective Certificate of Incorporation of Erasca, together with the financing documents entered into by the other investors in the Subsequent Financing. At least ten (10) days prior to the closing of the proposed Subsequent Financing, Erasca shall provide written notice of the proposed financial terms of the Subsequent Financing to Katmai. If Katmai fails to provide notice of its election to participate in the Subsequent Financing within such ten (10) day period, the right under this paragraph shall terminate. Notwithstanding the foregoing, the right under this paragraph shall terminate upon and not apply to an initial public offering by Erasca or earlier Sale Transaction.