Development Milestone Payments. Licensee shall pay to Axsome the following development milestone payment (the “Development Milestone Payment”) upon the achievement of the following milestone for the Licensed Product (the “Development Milestone”), whether achieved by Licensee or an Affiliate or Sublicensee. Licensee shall promptly (but in no event later than seven (7) Business Days after) notify Axsome in writing of the achievement of the Development Milestone and Licensee shall pay Axsome in full the Development Milestone EAST\200870719.16

On a Product-by-Product basis, SGI will make one-time only milestone payments to Unum based on the first achievement of the development and regulatory milestone events as set forth in this [Section 11.7] for each Product.

Milestone Payments. In the event Arcus (on its own or through an Affiliate or their sublicensees) achieves a milestone specified below during the Term, Arcus shall promptly, but in no event more than thirty (30) days after the achievement of each such milestone, notify Abmuno in writing of the achievement of such milestone. Arcus shall pay to Abmuno the milestone payments as specified below within thirty (30) days after receipt of a written invoice to be provided by Abmuno as soon as practicable following achievement of the particular milestone. Each milestone payment shall be payable only once for the first Licensed Product to achieve such milestones, regardless of the total number of Licensed Products to achieve the applicable milestone or the number of times each such milestone is achieved for a given Licensed Product. If the first Licensed Product to achieve an applicable milestone is not a Patented Product, then the payment specified in the table below earned with respect to such Licensed Product achieving such milestone shall be reduced by ​.

Milestone Payments. As partial consideration for Recordati’s agreements set forth in this Agreement, following achievement by ARS, its Affiliates or its Business Partner, as applicable, of any of the milestone events described below with respect to the first time (and only the first time) the Product achieves such milestone event (each, a “Milestone Event”), ARS will pay Recordati the corresponding milestone payment (a “Milestone Payment”) as follows:

Milestone Payments. In the event Arcus (on its own or through an Affiliate or their sublicensees) achieves a milestone specified below during the Term, Arcus shall promptly, but in no event more than ​ days after the achievement of each such milestone, notify WuXi in writing of the achievement of such milestone and pay to WuXi the milestone payments as specified below. Each commercialization milestone payment shall be payable only once per Licensed Product, except as expressly noted below. All milestone payments are non-refundable.

Milestone Payments. Subject to the terms and conditions of this Agreement and in further consideration for the license granted herein, Licensee shall make each of the following one-time, non-refundable, non-creditable milestone payments to Merck based on attainment of the Development, regulatory and commercial milestones indicated below:

​ = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

Milestone Payments. With respect to each Product, Licensee will pay Harvard XXX within XXX after first XXX of such Product.

i. ​ paid in four equal installments (each equal to ​) on the first day of each of the first four (4) calendar months following the submission of the first Investigational New Drug Application (“IND”) to the Food and Drug Administration (“FDA”) or an equivalent application to a regulatory agency anywhere in the world, for a Product.

Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments:

Milestone Payments. In the event Arcus (on its own or through an Affiliate or their sublicensees) achieves a milestone specified below during the Term, Arcus shall promptly, but in no event more than thirty (30) days after the achievement of each such milestone, notify Abmuno in writing of the achievement of such milestone. Arcus shall pay to Abmuno the milestone payments as specified below within thirty (30) days after receipt of a written invoice to be provided by Abmuno as soon as practicable following achievement of the particular milestone. Each milestone payment shall be payable only once for the first Licensed Product to achieve such milestones, regardless of the total number of Licensed Products to achieve the applicable milestone or the number of times each such milestone is achieved for a given Licensed Product. If the first Licensed Product to achieve an applicable milestone is not a Patented Product, then the payment specified in the table below earned with respect to such Licensed Product achieving such milestone shall be reduced by ​.

Milestone Payments. Within […​…] after the first achievement by Assignee or a Licensee of each of the following milestone events by the first Human Therapeutic Product, Assignee shall provide written notice to Assignor of the occurrence of such event. Where the milestone event is achieved by Assignee, Assignee shall pay to Assignor the corresponding milestone payment set forth below. Where the milestone event is achieved by a Licensee, Assignee shall pay to Assignor the difference between the corresponding payment set forth below and the amount payable by Assignee to Assignor in accordance with [Section 3.5] below as a result of Assignee’s receipt of any milestone payment from the Licensee for the achievement of that milestone event, if the amount payable under [Section 3.5] is lower.

Commercial Milestone Payments. Licensee shall pay to Axsome the following commercial milestone payments (each, a “Commercial Milestone Payment”) upon the achievement of the corresponding level of cumulative Net Sales of the Licensed Products in the Territory (the “Commercial Milestone”), whether achieved, individually or collectively, by Licensee, Licensee’s Affiliate(s) or its or their Sublicensees. Licensee shall promptly (but in no event later than seven (7) Business Days after) notify Axsome in writing of the achievement of any such Commercial Milestone and Licensee shall pay Axsome in full the corresponding Commercial Milestone Payment within thirty (30) days of Axsome’s invoice for such achievement thereof. For the avoidance of doubt, each Commercial Milestone will only be paid once.

Retroactive Milestone Payments. For each Licensed Product, if Denali achieves a Milestone Event ​, or a ​, without having achieved the Milestone Event(s) of any ​, Denali shall owe the milestone payment(s) due retroactively at the time of achieving the subsequent Milestone Event(s) (the “Retroactive Payment”). Any Retroactive Payment due shall correspond to the ​ for which a subsequent Milestone Event has been achieved. For example, ​.

CSPC will receive an upfront payment of ​. CSPC will also be eligible to receive royalties on net sales and up to ​ in potential development and regulatory milestone payments and ​ in potential commercial milestone payments.

the first Development Milestone Fee is USD$[…​…] (“First Development Milestone Fee”);

The Development Milestone Fees are as follows:

Under the terms of the agreement, Ovid obtained worldwide development and commercialization rights for all indications of gaboxadol (now designated as OV101). Lundbeck will receive royalties on sales, certain milestone payments and become a minority shareholder in Ovid. All future development costs will be carried by Ovid. Additional financial terms were not disclosed.

the Second Development Milestone Fee is payable within […​…];

ACADIA will have the right to credit against any Development Milestone Fee owed to Neuren, other than the First Development Milestone Fee, an amount equal to twice the amount ACADIA paid to fund Neuren’s share of the excess costs.