Patent Lifetime Royalty Payments. Immunomedics will pay to Xx. Xxxxxxxxxx for each full fiscal year of the Company, a sum equal to a percentage of the annual Product Royalties the Company receives each such fiscal year on each of the products for which Xx. Xxxxxxxxxx is an Inventor, and all products using, related to or derived from products for which Xx. Xxxxxxxxxx is an Inventor (“Patented Products”), which payments shall continue for each Patented Product for the remaining Life of the Patent covering each Patented Product (collectively “Patent Lifetime Royalty Payments”). The percentage of Product Royalties that Immunomedics will pay to Xx. Xxxxxxxxxx on each Patented Product will be determined based on the percentage of Product Royalties that Immunomedics must pay to external third parties (any party other than a wholly owned subsidiary of Immunomedics) on each Patented Product, as follows:
Appears in 4 contracts
Samples: Employment Agreement, Employment Agreement (Immunomedics Inc), Employment Agreement (Immunomedics Inc)
