"The terms of the contractinclude an upfront set-aside of$1 million Generex/NGIO’s expenses,a $5 million licensing fee for the Ii-Key technologyupon completion of development and testing, payment by the Chinese consortium for all costs and expenses related to the development of a COVID-19 vaccinein China, and a substantialroyalty on each dose of vaccine produced.The parties activities under the Agreement, including the clinical trials, are subject to approval under China Technology Import Contract Management Regulations as well as the Chinese version of the FDA."

$5M for licensing fee "substantial royalty on each dose of vaccine produced..."