Extract to table

Post-Patent Royalty Reduction: Following the expiration of all Licensed Patents containing a Valid Claim covering the Licensed Product in a given country, but during the remainder of the 12-year period described in clause (b) above, the royalty rates applicable to Net Sales in such country shall be reduced by fifty percent (50%), resulting in the following post-patent royalty rates: Minimum Annual Royalty: Commencing in the first full calendar year following the date of first commercial sale of the Licensed Product in any country in the Territory, Meridian shall pay to Penterra a minimum annual royalty of Two Million Dollars ($2,000,000) (the "Minimum Annual Royalty")

The Minimum Annual Royalty shall be credited against earned royalties otherwise payable by Meridian for the same calendar year

If earned royalties for any calendar year are less than $2,000,000, Meridian shall pay the shortfall within sixty (60) days of the end of such calendar year

Tidewater Holdings or equivalent), the royalty rates applicable to Net Sales in such country shall be reduced by forty percent (40%) for the duration of the period in which such Generic Product(s) maintain at least such market share

This reduction is applied in addition to any post-patent reduction described above, but the aggregate reduction shall not exceed seventy percent (70%) of the full royalty rate for any tier

Penterra shall simultaneously provide Meridian with the reference pricing data for the United States and EU5 countries