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SEC Filings

10-Q
BIOTIME INC filed this Form 10-Q on 08/09/2017
Entire Document
 

5.2.
Research documentation shall be retained by Hadasit as reasonably required by the Company. Hadasit and [ * ] shall cooperate with the authorized representatives of the Company in connection with any concern, inquiry, instruction or demand raised or made by such representatives in connection with the performance of the Work.

5.3.
During the Term, Hadasit shall furnish the Company with a written technical report prepared by a senior researcher indicating the progress of each work stream every [ * ]. For certain projects that are marked with an asterisk in Schedule A, a progress report will be provided once every [ * ]

5.4.
Hadasit shall provide, if requested by the Company, with a final report within [ * ] of the completion of each separate project identified as such in the Research Work Plan, or the termination of this Agreement.

6.
INSPECTION

At any time during the Term, Hadasit will permit the Company and/or its designated representatives, [ * ], to visit the HMO Facilities to monitor Hadasit’s performance of the Work, examine and inspect the HMO Facilities, review all records, procedures and other materials related to the Work, and audit the results of the Work, all as deemed necessary and appropriate by the Company.

7.
COMPENSATION FOR WORK

7.1.
The Company will pay compensation to Hadasit for the performance of the Work as set forth in Schedule B hereto (the "Budget").  Payments for the Work performed following the Execution Date will be paid in quarterly advance installments starting from [ * ]. Following the Execution Date Hadasit shall issue to the Company an invoice for the Work performed prior to the Execution Date, in an amount not to exceed [ * ], and the Company shall pay the amount due no later than [ * ] from receipt of Hadasit’s invoice or [ * ] following the Execution Date, whichever is the later. It is agreed that Hadasit shall provide written quarterly reports within [ * ] of the end of each calendar quarter showing a breakdown of FTEs actually allocated to the Work during the preceding quarter, in comparison to the Budget, for purposes of reconciliation.

7.2.
The Budget (as may be updated in accordance with the provisions of this Agreement) includes a breakdown of the components comprising of the compensation as follows: (a) costs of the salaries of up to [ * ] FTEs (not including [ * ]), and (b) overheads (which include [ * ]’s management and Hadasit overheads).  The Company shall be allowed to provide supplies and outsourced services required for the Work to Hadasit.
 
[ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
 
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