definiens: means, ( i ) with respect to each of Franchise Product 1 and Franchise Product2, the budget of Development Costs agreed by the Parties with respect to such product and ( ii ) withrespect to Franchise Product 3, the budget of Development Costs agreed by the Parties pursuant toSection 2.3 ( Development Prior to Option Exercise Date ) or, if not agreed, proposed by [COMPANY] in theOption Data Package for Franchise Product 3, in each case covering all activities contemplated bythe applicable Development Plan, as such budget may be updated annually by the JSC inconnection with updates to such Development Plan, as well as the amount of any Study Budgets asapplicable for the applicable Licensed Product . The Development Budget shall include ( with respectto Franchise Product 3, at the time of delivery of the Option Data Package ) such aggregate budget ofDevelopment Costs and the estimated apportionment of such aggregate budget for each CalendarYear ( or portion thereof ) within the period covered by the Development Plan