Common use of Project Management Team Clause in Contracts

Project Management Team. CHEMGENICS and WYETH-AYERST shall establish a "Project Management Team" (the "PMT"), which will act on behalf of the two companies and which shall manage the R & D Program as directed by the JSC. CHEMGENICS and WYETH-AYERST each shall appoint, in their sole discretion, three members to the PMT, which shall include the Project Leaders. Substitutes or alternates for the Project Leaders or other PMT members may be appointed at any time by notice in writing to the other party. The parties may mutually agree to change the size of the PMT as long as there shall be an equal number of representatives of each party on the PMT. The initial Project Leaders and other PMT members shall be designated by the parties upon execution of this Agreement. The PMT shall meet, keep minutes and establish operating procedures as directed by the JSC. The PMT shall be chaired by the two Project Leaders.