definiens: shall mean for any period, the g ross amount invoiced by Licensee and its Affiliates for the sale of License d Product by Licensee or any of its Affiliates to Third Parties, less deduct ions for : ( a ) normal and customary trade, quantity and cash discounts and sa les returns and allowances, including ( i ) those granted on account of price adjustments, billing errors, rejected goods, damaged goods, retu rns and rebates, ( ii ) administrative and other fees and reimbursements an d similar payments to wholesalers and other distributors, buying groups, pharmacy benefit management organizations, health care insurance car riers and other institutions, ( iii ) allowances, rebates and fees pa i d to distributors and ( iv ) chargebacks ; ( b ) freight, postage, shipping an d insurance expenses to the extent that such items are included in the gros s amount invoiced ; ( c ) customs and excise duties and other duties related to the sales to the extent that such items are included in the gross am ount invoiced ; ( d ) rebates and similar payments made with respect to s ales paid for by any governmental or regulatory authority such as, by wa y of illustration and not in limitation of the Parties ' rights hereunder, Federal or state Medicaid, Medicare or similar state program or equi valent foreign governmental program ; ( e ) sales and other taxes and duties directly related to the sale or delivery of the Licensed Product ( bu t not including taxes assessed against the income derived from such sale ) ; ( f ) distribution Page 4 expenses to the extent that such items are included in the gross amount invoiced ; ( g ) any other similar and customary deduc tions that are consistent with United States generally accepted ac counting principles, or in the case of non - United States sales, other appli cable accounting standards ; ( h ) insurance costs ; ( i ) employee salari es and other consultant and employee compensation ; ( j ) research and develop ment costs ; ( k ) manufacturing costs ; ( l ) sales expenses ( including sales commissions ) ; ( m ) storage of Licensed Product ; and ( n ) royalties paya ble to third parties