definiens: means : ( i ) when referring to obligations or activities to be p erformed by [COMPANY], the level of effort, budget and resources normally used by [COMPANY] for a product owned or controlled by it, which is of similar projected profitability and at a similar st age in its development or product life, taking into account with respect to a product any issues o f patent coverage, safety and efficacy, product profile, the proprietary position of the pr oduct, the then - current competitive environment for the product ( without taking into ac count any other products of [COMPANY] or its Affiliates ) and the likely timing of the product(s ) entry into the market, the regulatory environment of the product and other relevant scien tific, technical, economic and commercial factors, it being understood that Commercially Reas onable Efforts requires that [COMPANY] : ( a ) promptly assign responsibility for such obligat ions or tasks to specific employee(s ) who are held accountable for progress and monitor such prog ress on an on - going basis ; ( b ) set and consistently seek to achieve specific and meaningfu l objectives for carrying out such obligations ; and ( c ) consistently make and implemen t decisions and allocate resources designed to advance progress with respect to such o bjectives ; and ( ii ) when referring to obligations or activities to be p erformed by Loxo, the level of effort, budget and resources normally used by a similarly situated company in the biopharmaceutical industry ( taking into account market capitalization, financi al resources and other relevant factors ) for a product owned or controlled by it, which is of simi lar projected profitability and at a similar stage in its development or product life, taking in to account with respect to a product any issues of patent coverage, safety and efficacy, pro duct profile, the proprietary position of the product, the then - current competitive environment f or the product and the likely timing of the product(s ) entry into the market, the regulatory en vironment of the product and other relevant scientific, technical, economic and commercial fact ors, it being understood that Commercially Reasonable Efforts requires that Loxo : ( a ) promptly assign responsibility for such obligations or tasks to specific employee(s ) who are held accou ntable for progress and monitor such progress on an on - going basis ; ( b ) set and consiste ntly seek to achieve specific and meaningful objectives for carrying out such obligations ; and ( c ) consistently make and implement [ * * * ] Certain confidential information contained in this document, marked by brackets, has been omitte d and filed separately with the Securities and Exchange C ommission pursuant to Rule 406 of the Securities Ac t of 1933, as amended . Confidential treatment has been r equested with respect to this information