Common use of Commercialization Program Clause in Contracts

Commercialization Program. 4.1 Commercialization Committee. (a) After successful completion of the final U.S. Phase II clinical trial for any Product and approval by the FDA of the Phase III clinical trial protocol, the Parties shall form the Commercialization Committee for such Product, which shall be comprised of an equal number of members with half appointed by each Party. Each member of the Commercialization Committee shall have the appropriate level of skill, experience and familiarity with the Commercialization Program. InterMune's Vice President of Sales and Marketing shall serve as one of InterMune's Commercialization Committee members and shall be the Chairman of the Commercialization Committee. Each Party shall have the right to substitute different representatives as members on the Commercialization Committee as needed from time to time, and each Party may bring additional representatives to attend meetings of the Commercialization Committee in a non-voting, ad hoc capacity. (b) The Commercialization Committee shall meet as often as the Committee deems necessary and at such meeting places as shall be mutually agreed upon by the Parties. The Commercialization Committee meetings may be held by telephone or videoconference, if agreed by the Commercialization Committee members. Each Party will designate an individual to serve as the liaison between the Parties to undertake and coordinate any communications as may be required between the Parties relating to the Commercialization Program. The Commercialization Committee shall operate by majority decision of its members and shall use good faith efforts to reach agreement on all matters to be decided. In the event the Commercialization Committee is unable to reach agreement on any matter before it within thirty (30) days of undertaking consideration of such matter, then the matter shall be resolved pursuant to Section 12.2.