Research Extension Option Sample Clauses

Research Extension Option. Monsanto shall have the option, by not later than February 1, 2014 (the “Extension Option Last Exercise Date”), to extend the Funded Project by two additional Collaboration Years (i.e. to add Collaboration Years 7 and 8, with Discovery Validation Data Backpacks and/or Project G2P Validation Data Backpacks to be finalized and delivered by Evogene to Monsanto in Collaboration Year 9)( the “Extended Funded Project”), in consideration for the payment by Monsanto to Evogene of Annual Research Payments in Collaboration Years 6 through 9 in the total amount of Twenty-Six Million Dollars ($26,000,000) (the “Extended Period Annual Research Payments”), subject to and upon the terms and conditions set forth in this Section 5.3 below (the “Research Extension Option”). 5.3.1 Exhibit T attached hereto sets forth a ‘price list’ for various research and development activities from which Monsanto may select for Evogene to conduct during Collaboration Years 7 through 9 and guidelines and constraints as to how those activities can be combined to structure the extended workplan, should Monsanto elect to exercise the Research Extension Option in accordance with the terms of this Section 5.3. 5.3.2 The exercise of the Research Extension Option is subject to each of the following conditions: (i) Monsanto shall inform Evogene of Monsanto’s election to exercise the Research Extension Option by no later than the Extension Option Last Exercise Date, by providing to Evogene written notice of Monsanto’s election (the “Monsanto Exercise Notice”); (ii) together with the Monsanto Exercise Notice, Monsanto shall deliver to Evogene a ‘Deliverables Proposal’, in the format set forth in Exhibit T, in which *** Confidential treatment has been requested for redacted portions of this exhibit. This copy omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this exhibit has been provided separately to the Securities and Exchange Commission. Monsanto will select the research and development activities to be conducted by Evogene in Collaboration Years 7 through 9 (and possibly with Data Generation activities commencing as early as Collaboration Year 6) and amounting to Annual Research Payments of Twenty-Six Million Dollars ($26,000,000), according to the ‘price list’ set forth in Exhibit T, provided that Evogene shall not be required to complete any Project Discovery Rounds or Project G2P Rounds later than Collaboration Year 8 (the “E...