Common use of Role of JRC Clause in Contracts

Role of JRC. The JRC will be responsible for (i) the overall management of the Research Program, and for approving changes and updates to the Research Plan, (ii) the monitoring, reviewing and recording of the progress of the Research Program, (iii) setting, and monitoring the spending against, the budget for Research Program Costs, as set forth in the Research Plan, (iv) facilitating the prosecution of the Product Specific Patents in accordance with Article 9 below. In addition, the JRC will provide a forum for discussion and review of BMS’ key Development activities with respect to the Compounds as set forth in the Development Plan and in updates to the Development Plan. As needed, the JRC shall establish subcommittees and working groups that will report to the JRC to further the objectives of the Research Program.