definiens: means for the appli cable period the gross amount invoiced for the Product by [COMPANY] or its licensees to unAffiliated Third Parties in the Territory, less the following amounts to the extent deducted on such invoice or absorbed by [COMPANY] : ( i ) quantity, trade, an d / or cash discounts, allowances, rebates, and price adjustments or reduc tions allowed or given ; ( ii ) freight, postage and shipping insurance expenses ab sorbed by [COMPANY] and not reimbursed by the invoicee ; ( iii ) credits, rebates, chargebacks, or refunds allowed for rejected, outdated or returned Products ; and ( iv ) sales and other excise taxes and duties directly related to the sal e, to the extent that such items are included in the gross invoice price ( but not including taxes assessed against the income derived from such sale ) . If a Pr oduct is sold for compensation other than cash, Net Sales shall be ca lculated based on the fair market value of the Product in cash