Common use of Patent Royalties Clause in Contracts

Patent Royalties. Pfizer shall pay Arvinas royalties in an amount equal to the following percentage of Net Sales of the relevant Product by Pfizer or its Related Parties in the applicable Pfizer Year of the applicable Royalty Period, provided that the sale of such Product is Covered by a Valid Patent Claim in the country of sale: (i) [**] percent ([**]%) of Net Sales in the Territory in each Pfizer Year up to and including [**] Dollars (US$[**]); (ii) [**] percent ([**]%) of Net Sales in the Territory in each Pfizer Year for the portion of Net Sales exceeding [**] Dollars (US$[**]) up to and including [**] Dollars (US$[**]); and (iii) [**] percent ([**]%) of Net Sales in the Territory in each Pfizer Year for the portion of Net Sales exceeding [**] Dollars (US$[**]).

Appears in 3 contracts

Sources: Research Collaboration and License Agreement (Arvinas Holding Company, LLC), Research Collaboration and License Agreement (Arvinas Holding Company, LLC), Research Collaboration and License Agreement (Arvinas Holding Company, LLC)