definiens: means the approval or 8 authorization required for the marketing, promotion and sale of LICENSED PRODUCT in a country, such as the issuance of an approval action on an NDA in the United States, or the issuance of its equivalent in a country other than the United States ; and ( iii ) $ 1,000,000 due within thirty ( 30 ) days of the first SALE of each LICENSED PRODUCT ; and ( f ) The following percentage of all consideration ( other than ( i ) research and development money ; ( ii ) payments received by LICENSEE from a sublicense as a result of the purchase or salc of debt or equity securities of UCENSEE by such sublicense ; or ( iii ) monies received [ or the same milestone events outlined in Section 4.1(e » received by LICENSE E from either ( i ) any sublicensee pursuant to Sections 3.3 and 3.4 hereinabove, or ( ii ) any assignee pursuant to Section 12.1 hereinbelow ( in consideration for UTMDACC allowing the assigrunent ), including but not limited to, royalties, up - front payments, marketing, distribution, franchise, option, license, or documentation fecs, bonus, and certain milestone payments and equity securities [ lot excluded above : ( i ) prior to completion of a Phase fib Clinical Study -twenty five percent ( 25 % ) ; am ) --(ii ) on or after completion of Phase llb Clinical Study -ten percent ( 10 % ) . - -4.2 Unless otberwise provided, all such payments are payable within thirty ( 30 ) calendar days after March 31, June 30, September 30, and December 31 of each year during the tenn of this AGREEMENT, at which time LICENSEE will also deliver to UTMDACC a true and accurate report, giving such particulars of the business conducted by LICENSEE and its sublicensees, if any exist, during the preceding three ca1endar months under this 9 G:\(;allisto\2006 t'orm 100K'-':.allislo J;';c : nse -Degrasyns.doc --------- -- _