Explanation:

mproved Product means any product that (a) is a new version, model and/or other improvement of, and (b) has the same basic functionality as, an existing HD Product, Water Purification Product and/or IC Product set forth on Exhibit 1 as of the Effective Date.
Product improvement is the process of making meaningful product changes that result in new customers or increased benefits realized by existing customers. The two most popular ways to make product improvements are to add new product features or improve existing ones.