CONTINUOUS IMPROVEMENT PROGRAMME. 24.1 The Parties shall meet regularly, but no less than annually, to discuss potential areas of cost reduction applicable to the Manufacture of Products under this Agreement, including any reduction in Material Costs and any potential Improvements. The Parties shall agree on potential areas of cost reduction in writing and each Party may from time to time suggest Improvements to the other. All cost reductions achieved by an Improvement agreed by the Parties shall be shared equally between the Supplier and the Purchaser. The Parties shall determine (acting reasonably) whether a portion of the benefit of any Improvement accruing to the Purchaser shall be applied by way of a reduction in the Supply Price.
Appears in 2 contracts
Sources: Manufacturing and Supply Agreement (Alcon Inc), Manufacturing and Supply Agreement (Alcon Inc)