Common use of PROGRESS AND ROYALTY REPORTS Clause in Contracts

PROGRESS AND ROYALTY REPORTS. 9.1 Beginning February 28, 2002 and semi-annually thereafter, the Licensee shall submit to The Regents a progress report covering the Licensee’s (and any Affiliate or Sublicensee’s) activities regarding the development and testing of all Licensed Products and the obtaining of any governmental approvals necessary for marketing. Progress reports are required until the first Commercial Sale of the first Licensed Product occurs in the United States, at which time the Licensee may discontinue such reports; provided that such reports may again be required by The Regents if Commercial Sales of such Licensed Product are suspended or discontinued. 9.2 Progress reports submitted under Paragraph 9.1 shall include, but are not limited to, the following topics, as they specifically refer to Licensed Products: • summary of work completed • key scientific discoveries • summary of work in progress • current schedule of anticipated events or milestones • market plans for introduction of Licensed Products, and • a summary of resources (dollar value) spent in the reporting period. 9.3 The Licensee has a continuing obligation to keep The Regents’ informed of the large/small business entity status (as defined by the United States Patent and Trademark Office) of itself and its Sublicensees and Affiliates. 9.4 The Licensee shall report to The Regents the date of first Commercial Sale of a Licensed Product in each country in its immediately subsequent royalty report (as described below).

PROGRESS AND ROYALTY REPORTS. 9.1 Beginning February 28, 2002 7.1 [ *** ] and semi-annually [ *** ] thereafter, the Licensee shall submit to The Regents a progress report covering the Licensee’s (and any Affiliate or Sublicensee’s) 's activities regarding related to the development and testing of all Licensed Products and the obtaining of any the governmental approvals necessary for marketing. Progress These progress reports are required shall be made for each Licensed Product until the first Commercial Sale commercial sale of the first that Licensed Product occurs in the United States, at which time the Licensee may discontinue such reports; provided that such reports may again be required by The Regents if Commercial Sales of such Licensed Product are suspended or discontinued. 9.2 Progress 7.2 The progress reports submitted under Paragraph 9.1 shall section 7.1 should include, but are not be limited to, the following topics, as they specifically refer to Licensed Products: • - summary of work completed • including results of clinical trials - key scientific discoveries • - summary of work in progress • - current schedule of anticipated events or milestones • - market plans for introduction of Licensed Products, and • - a summary of resources (dollar value) spent in the reporting period. 9.3 7.3 The Licensee has shall have a continuing obligation responsibility to keep The Regents’ Regents informed of the large/small business entity status (as defined by the United States Patent and Trademark Office) of itself and its Sublicensees sublicensees and Affiliates. 9.4 7.4 The Licensee shall also agrees to report to The Regents in its immediately subsequent progress and royalty report the date of first Commercial Sale commercial sale of a Licensed Product in each country country. 7.5 After the first commercial sale of a Licensed Product anywhere in its immediately subsequent the world, the Licensee will make [ *** ] royalty report (as described below).reports to The Regents on or before [ *** ] *** confidential treatment requested