Common use of Costs and Payments Clause in Contracts

Costs and Payments. (adjust to be either cost reimbursable by removing the payment schedule under 5.3 or fixed price by adding different language to 5.1) . It is agreed to and understood by the Parties that the University shall be reimbursed for all costs incurred in connection with the Project up to the amount of $amount (the "Project Cost") as established by the Approved Budget in Exhibit B which is incorporated herein. It is estimated that the amount designated as the Project Cost is sufficient to support Project expenses. Cost reimbursable provision. Reimbursement shall be made by Sponsor upon receipt of itemized invoices. Each invoice must reference the Sponsor account number. Invoices shall be submitted not more frequently than monthly, but must be submitted at least quarterly in accordance with the Approved Budget. The Sponsor shall not be liable for any payment in excess of the Project Cost unless this Agreement is modified in writing. Within ninety (90) days after the termination of this Agreement the University shall submit a final financial report setting forth costs incurred. The report shall be accompanied by a check in the amount, if any, of the excess of funds advanced over costs incurred. OR The final invoice must be submitted promptly following completion of the work under this agreement but in no event later than thirty (30) days (or such longer period as Sponsor may in its discretion approve in writing) from the date of such completion. Fixed price provision. All checks shall be made payable to Syracuse University and sent to the address specified in Article 19, Notices. Payment shall be made by the Sponsor according to the following schedule. Upon execution of this Agreement $ (30% of Project Cost) Specified Date $ (60% of Project Cost) Specified Date (10% of Project Cost) Check shall be made payable to “Syracuse University” and shall be sent to: Bursar’s Office Attn: Manager, Office of Sponsored Accounting 102 Archbold Syracuse University Xxxxxxxx, XX 00000-0000 For the purposes of identification, each payment shall include the title of the Research and the name of the Principal Investigator.

Costs and Payments. 4.1 Sponsor shall pay University as compensation for performance of the Project (adjust “Project Costs”) plus as a one-time, non-refundable fee for Sponsor’s receipt of Deliverables and title to the Project IP (“Project IP Fee”). Together Projects Costs and the Project IP Fee shall constitute the Total Project Cost to Sponsor and shall be either cost reimbursable due and payable by removing Sponsor according to the payment schedule set forth in Appendix A. [24] [24] Depending on the likely duration of the project, Sponsor may want to tie compensation to two or more phases of Deliverables and strictly defined acceptance criteria for those Deliverables. That approach may allow the Sponsor to release project funds on completion of a particular phase rather than entirely upfront or at project completion. Appendix A should reflect the desired staging. The Project IP fee may be similarly staged. For instance, the Project IP could be paid in two installments: completion of the Deliverables and perfected assignment of all Project IP. 4.2 University shall retain title to any equipment purchased with funds provided by Sponsor under 5.3 or fixed price this Agreement [25]. 4.3 In the event of termination of this Agreement in accordance with Article 8.2 before expiration of the Project Period, Sponsor will pay all reasonable out-of-pocket expenses accrued by adding different language University as of the date of termination, including non-cancellable obligations [26]. 4.4 University will not be obligated to 5.1spend any funds on this Project other than those provided by Sponsor under this Article 4 [27]. 4.5 University may charge interest at the rate of percent ( %) . It is agreed to and understood per annum on any amounts owed under this Agreement that are not paid in full by the Parties that due date. Said interest will begin no earlier than the day after the due date and continue until the amount owed is paid in full. In collection of any indebtedness owed University, University shall be reimbursed for entitled to all additional costs incurred referenced in [relevant state code], as from time to time amended or re- codified. Expenses associated with collection of indebtedness by means of the [state] state tax set off program shall be added to the indebtedness. Any judgment entered shall be without relief from valuation and appraisement laws. All returned checks, drafts, or orders are subject to a service charge not exceeding the maximum allowed by law. 4.6 University shall pay all applicable premiums and taxes in connection with the Project up services it provides under this Agreement, including without limitation, self- employment taxes, workers compensation premiums, and unemployment security premiums. At Sponsor’s request, University shall provide Sponsor with documentation evidencing its compliance with this provision. 4.7 Notwithstanding anything to the amount of $amount (contrary in this Agreement, Sponsor is not obligated to pay any amounts accrued under this Agreement if University has not met the "requirements set forth in the SOW, the Project Cost") proposal [28], including any changes to the foregoing as established mutually agreed upon by the Approved Budget in Exhibit B which is incorporated herein. It is estimated that the amount designated as the Project Cost is sufficient to support Project expenses. Cost reimbursable provision. Reimbursement shall be made by Sponsor upon receipt of itemized invoices. Each invoice must reference the Sponsor account number. Invoices shall be submitted not more frequently than monthly, but must be submitted at least quarterly in accordance with the Approved Budget. The Sponsor shall not be liable for any payment in excess of the Project Cost unless this Agreement is modified Parties in writing, or other requirements as may be agreed upon by the Parties and confirmed in writing [29]. Within ninety (90) days after the termination Sponsor will notify University of this Agreement the University shall submit a final financial report setting forth costs incurred. The report shall be accompanied by a check in the amount, if any, of the excess of funds advanced over costs incurred. OR The final invoice must be submitted promptly following completion of the work any disputed charge under this agreement but in no event later than Section 4.7 within thirty (30) days of Sponsor’s receipt of the relevant invoice and provide Sponsor’s reasons for disputing the charge. The Parties will cooperate in good faith to resolve any such dispute within ten (or 10) days from Sponsor’s notification of a disputed charge and will escalate any such longer dispute to their respective senior management if they are unable to resolve the dispute in such ten-day period as [30]. [25] Consider whether equipment will be purchased for the Project, and whether Sponsor may in want ownership of equipment purchased with its discretion approve in writing) from the date of funds. Importantly, some equipment such completion. Fixed price provision. All checks shall as computers with licensed code may need to be made payable to Syracuse University and sent transferred to the address specified in Article 19, NoticesSponsor upon completion of the project so that the Sponsor may make use of the deliverables. Payment shall be made [26] Sponsor may also require University to stop incurring expenses and take proactive steps to exit certain obligations. [27] The point of this provision is to ensure that the University does not incur any costs not covered by the Sponsor. If the University has performed in accordance with the agreement but the agreement is nonetheless terminated early, language could be additionally clarified to state that, in such circumstances, all accrued expenses will be reimbursed as well as any expenses incurred during a reasonable wind-down period to allow the University to shift researchers onto other projects. [28] It is helpful if specific “acceptance criteria” are included in the SOW or Project proposal. The more objective such criteria are the less likely it will be that there will be any disputes. Sponsor according may also want to condition payment on compliance with the terms of the SRA (in particular, the confidentiality and IP ownership provisions) [29] This may be absent or less apparent in other agreements more favorable to the following scheduleUniversity. Upon execution of this Agreement $ (30% of Project Cost) Specified Date $ (60% of Project Cost) Specified Date (10% of Project Cost) Check shall be made payable to “Syracuse University” and shall be sent to: Bursar’s Office Attn: ManagerNevertheless, Office of Sponsored Accounting 102 Archbold Syracuse University Xxxxxxxxall SRAs should address what happens if, XX 00000-0000 For during the purposes of identification, each payment shall include the title course of the Research and project, they need to make changes regarding outcomes, quality, etc. [30] When substantial sums are at risk, the name parties may have difficulty in separating Project IP from background rights, or there may be material disputes about inventorship, a separate dispute resolution clause may be justified, along with identification of the Principal Investigatorspecific senior management responsible.

Costs and Payments. (adjust to be either cost reimbursable by removing the payment schedule under 5.3 or fixed price by adding different language to 5.1) . It is agreed to and understood by the Parties that the University shall be reimbursed for all costs incurred in connection with the Project up to the amount of $amount (the "Project Cost") as established by the Approved Budget in Exhibit B which is incorporated herein. It is estimated that the amount designated as the Project Cost is sufficient to support Project expenses. Cost reimbursable provision. Reimbursement shall be made by Sponsor upon receipt of itemized invoices. Each invoice must reference the Sponsor account number. Invoices shall be submitted not more frequently than monthly, but must be submitted at least quarterly in accordance with the Approved Budget. The Sponsor shall not be liable for any payment payment, and the University shall not be required to perform any work, in excess of the Project Cost unless this Agreement is modified in writingwriting in accordance with Article 21. Within ninety (90) days after the termination of this Agreement the University shall submit a final financial report setting forth costs incurredincurred in connection with the Project. The report shall be accompanied by a check in the amount, if any, of the excess of funds advanced over costs incurred. OR The final invoice must be submitted promptly following completion of the work under this agreement Agreement but in no event later than thirty (30) days (or such longer period as Sponsor may in its discretion approve in writing) from the date of such completion. Fixed price provision. All checks shall be made payable to Syracuse University and sent to the address specified in Article 19, Notices. Payment shall be made by the Sponsor according to the following schedule. Upon execution of this Agreement $ (30% of Project Cost) Specified Date $ (60% of Project Cost) Specified Date (10% of Project Cost) Check shall be made payable to “Syracuse University” and shall be sent to: Bursar’s Office Attn: Manager, Office of Sponsored Accounting 102 Archbold Syracuse University Xxxxxxxx, XX 00000-0000 For the purposes avoidance of identificationdoubt, each payment shall the Project Cost does not include any applicable Intellectual Property prosecution or maintenance costs or license fees or royalties to be paid by Sponsor under this Agreement. Such costs and fees are in addition to the title of the Research and the name of the Principal InvestigatorProject costs referenced above.

Costs and Payments. (adjust to be either cost reimbursable by removing the payment schedule under 5.3 or fixed price by adding different language to 5.1) . It is agreed to and understood by the Parties that the University shall be reimbursed for all costs incurred in connection with the Project up to the amount of $amount (the "Project Cost") as established by the Approved Budget in Exhibit B which is incorporated herein. It is estimated that the amount designated as the Project Cost is sufficient to support Project expenses. Cost reimbursable provision. Reimbursement shall be made by Sponsor upon receipt of itemized invoices. Each invoice must reference the Sponsor account number. Invoices shall be submitted not more frequently than monthly, but must be submitted at least quarterly in accordance with the Approved Budget. The Sponsor shall not be liable for any payment in excess of the Project Cost unless this Agreement is modified in writing. Within ninety (90) days after the termination of this Agreement the University shall submit a final financial report setting forth costs incurred. The report shall be accompanied by a check in the amount, if any, of the excess of funds advanced over costs incurred. OR The final invoice must be submitted promptly following completion of the work under this agreement but in no event later than thirty (30) days (or such longer period as Sponsor may in its discretion approve in writing) from the date of such completion. Fixed price provision. All checks shall be made payable to Syracuse University and sent to the address specified in Article 1920, Notices. Payment shall be made by the Sponsor according to the following schedule. Upon execution of this Agreement $ (30% of Project Cost) Specified Date $ (60% of Project Cost) Specified Date (10% of Project Cost) Check shall be made payable to “Syracuse University.” and shall be sent to: Bursar’s Office Attn: Manager, Office of Sponsored Accounting 102 Archbold Syracuse University Xxxxxxxx, XX 00000-0000 For the purposes of identification, each payment shall include the title of the Research and the name of the Principal Investigator.