Research Funding. For each Research Plan, iTeos shall pay [[Adimab:Organization]], within ​ of completion of each calendar quarter, an amount equal to ​ of the actual FTEs expended by [[Adimab:Organization]] on the Research Programs during such calendar quarter (at the FTE Rate), subject to reasonable itemization as requested by iTeos. If [[Adimab:Organization]] anticipates an overage of more than ​ of the FTEs estimated for a Research Plan, then [[Adimab:Organization]] shall promptly notify iTeos thereof. [[Adimab:Organization]] shall not invoice iTeos for more than ​ of the estimated FTEs for a Research Plan in the absence of having sent such a notice. After sending such notice, [[Adimab:Organization]] shall continue with such Research Plan until such time as [[Adimab:Organization]] receives written notice from iTeos to cease working on such Research Plan for purposes of either # terminating such Research Plan or # temporarily halting work on such Research Plan in order to review the nature of such overage and amend the Research Plan in order to reduce the costs of completing such Research Plan. For clarity, the FTE costs associated with a Research Plan are rarely linear and thus, it is possible that the number of FTEs invoiced in any billing cycle may or may not coincide with the amount of time spent or remaining to be spent conducting the applicable Research Plan.

Research Funding. The Research Plan specifies, and any amendment thereto shall specify, the number of Fulcrum FTEs that Fulcrum will devote to the Fulcrum Research Activities during the Research Term. Acceleron will reimburse Fulcrum at the FTE Rate for Fulcrum FTEs performing the Fulcrum Research Activities in accordance with the Research Plan, up to a maximum of ​ percent (​) of the budgeted amounts set forth for such FTE costs in the Research Plan, and Fulcrum will bear all costs for its FTEs in excess of such limit. Acceleron will reimburse Fulcrum for all out-of-pocket expenses incurred performing the Fulcrum Research Activities in accordance with the Research Plan, up to a maximum of ​ percent (​) of the budgeted amounts set forth for such out-of-pocket expenses in the Research Plan, and Fulcrum will bear all costs for its out-of-pocket expenses in excess of such limit. Fulcrum will provide Acceleron with a preliminary, non-binding, good faith estimate of the costs of Fulcrum FTEs at the FTE Rate and out-of-pocket expenses incurred by Fulcrum in performing the Research Activities within ​ after the end of each Calendar Quarter and will provide an invoice for the actual amount of such costs of Fulcrum FTEs and out-of-pocket expenses (which invoice will contain # sufficient detail to enable Acceleron to verify the amounts payable for such Fulcrum FTEs and out-of-pocket expenses, and # a detailed explanation of any costs for Fulcrum FTEs or out-of-pocket expenses in excess of the budgeted amounts set forth in the Research Plan, including a description of why such overage occurred), within ​ after the end of each Calendar Quarter, and Acceleron will pay all undisputed amounts set forth in such invoices within ​ after Acceleron’s receipt thereof. Acceleron will be responsible for any costs it incurs in the performance of the Acceleron Research Activities.

Research Funding. The Parties agree to transfer all the Remaining Funds to cover the research funding under this Agreement. The Remaining Funds will cover all costs for Arcturus support and activities under the Research Plan and Arcturus shall use the Remaining Funds solely for the purpose of the Studies hereunder until the completion of the Studies. Except for a case of termination by Takeda of the Agreement pursuant to Section 18, the Parties agree that if part of the Remaining Funds are unspent or uncommitted for expenditure upon completion of the Studies, the Remaining Funds upon completion of the Studies are non-refundable.

Sponsored Research Funding. Promptly following execution of this Agreement the Parties agree to negotiate in good faith and enter into a sponsored research agreement, which agreement will provide that, during the [...​...] after the Effective Date, SORRENTO shall [...​...] from the Effective Date, in research funding for work to be done at MAYO to develop the Licensed Product(s), subject to mutually agreed upon work plans and budgets, and subject to MAYO policies and the approval of MAYO’s Institutional Review Board and Conflict of Interest Committee. Such sponsored research activities may include basic research projects, as well as toxicology, GMP manufacturing or additional Phase I or Phase II clinical trials of the Licensed IP. The Parties shall mutually agree upon any additional research funding for work to be done at MAYO in subsequent years. Any sponsored research shall be outlined and agreed upon in a separate research agreement between MAYO and SORRENTO.

Research Funding. Fulcrum will invoice [[MyoKardia:Organization]] within ​ after the end of each Calendar Quarter for the number of hours that Fulcrum FTEs spent performing the Fulcrum Research Activities in accordance with the Research Plan at the FTE Hourly Rate and all reasonable Out-of-Pocket Expenses incurred by Fulcrum in performing the Fulcrum Research Activities in accordance with the Research Plan (collectively, the “Covered Research Expenses”). Such invoices will be reasonably detailed to include: # aggregate quarterly FTE hours; # the total amount due for FTEs; and # reasonably detailed descriptions of Out-of-Pocket Expenses. [[MyoKardia:Organization]] will pay Two Million Five Hundred Thousand Dollars ($2,500,000) as pre-paid research funding pursuant to Section 6.2 (Prepaid Research Funding). Once the Covered Research Expenses exceed such $2,500,000 threshold in aggregate costs, as evidenced by the cumulative sum of all invoices provided by Fulcrum to [[MyoKardia:Organization]], [[MyoKardia:Organization]] will thereafter reimburse Fulcrum on a Calendar Quarter basis (including the Calendar Quarter in which the Covered Research Expenses exceeded such $2,500,000 threshold) for the Covered Research Expenses incurred by Fulcrum in such Calendar Quarter, up to a maximum of the Research Budget. [[MyoKardia:Organization]] will pay all undisputed amounts set forth in such invoices within ​ after [[MyoKardia:Organization]]’s receipt thereof. [[MyoKardia:Organization]] will be responsible for any costs it incurs in the performance of the [[MyoKardia:Organization]] Research Activities.

Research Funding Audit Rights. Enanta shall keep complete and accurate books and financial records pertaining to its costs and expenses of conducting the Research Program, which books and financial records shall be kept in accordance with GAAP and shall be retained by Enanta until ​ years after the end of the Calendar Year to which they pertain. Abbott shall have the right to appoint, at its expense, an independent certified public accountant reasonably acceptable to Enanta to inspect or audit, the books and financial records of Enanta relating to its costs and expenses of conducting the Research Program during any Calendar Year; provided that Abbott shall not have the right to inspect or audit any Calendar Year more than ​ or more than ​ years after the end of such Calendar Year or to conduct more than ​ such audit in any ​ month period. All books and financial records made available for inspection or audit shall be deemed to be Confidential Information of Enanta. The results of each inspection or audit, if any, shall be binding on both Parties. In the event there was an error in the amount of FTE Costs reported by Enanta hereunder, # if the amount of FTE Costs was over-reported, Enanta shall promptly (but in any event no later than ​ days after Enanta’s receipt of the independent accountant’s report so concluding) make payment to Abbott of the over-reported amount and # if the amount of FTE Costs was underreported, Abbott shall promptly (but in any event no later than ​ days after Abbott’s receipt of the independent accountant’s report so concluding) adjust its records to reduce the balance of any excess payment by the amount of the under-reported amount. Abbott shall bear the full cost of such audit unless such audit discloses an over-reporting by Enanta of more than ​ of the aggregate amount of FTE Costs reportable in any Calendar Year, in which case Enanta shall reimburse Abbott for all costs incurred by Abbott in connection with such inspection or audit.

Research Funding. [[Alector:Organization]] will pay [[Adimab:Organization]], within ​ of completion of each calendar quarter and receipt by [[Alector:Organization]] of an invoice from [[Adimab:Organization]], an amount equal to ​ of the actual FTEs expended by [[Adimab:Organization]] in the performance of its obligations hereunder during such calendar quarter (at the FTE Rate); provided, however, that, on a Research Plan-by-Research Plan basis, [[Adimab:Organization]] will notify [[Alector:Organization]] in the event that the FTE payments for a Research Plan are expected to exceed the amounts estimated in such Research Plan by more than ​ and upon receipt of such notification, [[Alector:Organization]] may opt to # continue the Research Plan as originally drafted, # amend the Research Plan in order to reduce costs, or # terminate such Research Plan.

Prepaid Research Funding. [[MyoKardia:Organization]] will pay Fulcrum a non-refundable payment of Two Million Five Hundred Thousand Dollars ($2,500,000) as prepaid research funding within ​ after receipt by [[MyoKardia:Organization]] of a corresponding invoice from Fulcrum, which shall be issued no earlier than the Effective Date.

#[[Merus:Organization]] Research Costs. Lilly will fund (in accordance with [Section 4.6.3]) all [[Merus:Organization]] Internal Costs and [[Merus:Organization]] External Costs (collectively, “Research Expenditures”) in accordance with the Research Budget set forth in the applicable Research Plan. ​ On at least an annual basis for each Research Program, no later than July 31 in each Calendar Year, the Parties shall discuss through the JSC the Research Expenditures incurred during the prior ​, and the Research Expenditures expected to be incurred during the following ​. Following such discussion, the JSC shall amend (if applicable) and approve the Research Budget for the applicable Research Program for the following Calendar Year.

Research Funding. If the Parties mutually agree at a Joint Steering Committee meeting during the Research Period for the Jointly Controlled Project that BII shall provide additional funds for the ​ Study, then BII shall pay additional Research Funding to Epizyme in the amount of ​, which shall be payable within ​ after receipt of an Invoice from Epizyme.