definiens: . Net Sales means, with respect to a Licensed Product, the gross amounts received by ACHILLION, its Affiliates and/or sublicensees in respect of sales of such Licensed Product ( excluding any such sales among ACHILLION, its Affiliates and/or sublicensees ), less the following deductions : ( a ) Trade, cash and/or quantity discounts actually allowed and taken with respect to such sales ; ( b ) Tariffs, duties, excises, sales taxes or other taxes imposed upon and paid with respect to the production, sale, delivery or use of the Licensed Product ( excluding national, state or local taxes based on income ) ; ( c ) Amounts repaid or credited by reason of rejections, defects, recalls or returns or because of charge backs, refunds, rebates or retroactive price reductions ; ( d ) To the extent separately stated on purchase orders, invoices or other documents of sale, insurance and other outbound transportation charges incurred in shipping the Licensed Product ; and ( e ) Gross amounts received at or below ACHILLION 's cost in respect of sales for clinical trial purposes or compassionate or similar use