$OCGN “In consideration of the expansion, pursuant to the Amendment, the Company paid to Bharat a non-refundable, upfront payment of $15 million immediately upon execution of the Amendment. The Company further agreed to pay to Bharat a milestone payment of $10 million within 30 days of the first commercial sale of COVAXIN in Canada. In addition to the aforementioned payments, under the terms of the Agreement as amended by the Amendment, the parties will share any profits generated from the commercialization of COVAXIN in the Amended Ocugen Territory, with the Company retaining 45% of such profits and Bharat receiving the balance of such profits.”
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