Common use of Release Payment Clause in Contracts

Release Payment. Infinity will make the following payments, which, along with other amendments from the Original Agreement reflected in this Agreement, are in consideration for the termination of the Released Oncology Rights: (a) Upon the Effective Date, five million dollars (US$5,000,000), representing Milestone Payment in row 3, Column C of Exhibit 3, for the achievement of “first patient, first visit in a Phase II Study”; and (b) A non-refundable total payment of fifteen million dollars (US$15,000,000) (the “Release Payment”), to be paid in three (3) annual installments as follows: Upon Effective Date US$ 1,666,666 On or before January 2, 2014 US$ 6,666,667 On or before January 2, 2015 US$ 6,666,667

Release Payment. Infinity will make the following payments, which, along with other amendments from the Original Agreement reflected in this Agreement, are in consideration for the termination of the Released Oncology Rights: (a) Upon the Effective Date, five million dollars (US$5,000,000), representing Milestone Payment in row 3, Column C of Exhibit 3, for the achievement of “first patient, first visit in a Phase II Study”; and (b) A non-refundable total payment of fifteen million dollars (US$15,000,000) (the “Release Payment”), to be paid in three (3) annual installments as follows: Upon Effective Date US$ 1,666,666 On or before January 2, 2014 US$ 6,666,667 On or before January 2, 2015 US$ 6,666,6676,666,667 Aggregate Release Payment US$ 15,000,000