FEE FOR REQUESTED SERVICES Sample Clauses

FEE FOR REQUESTED SERVICES. (a) Following the close of each calendar month, Biotec shall deliver to EC a written report (the "Report") identifying the Biotec technical or scientific personnel who provided research and development services requested by EC at any time during the preceding month, the number of hours spent by each such person providing such services, together with a brief description of the services provided, the pro forma hourly billing rate of such personnel (the "Pro Forma Billing Rate"), and the total amount due Biotec from EC with respect to all research and development services provided by Biotec personnel during such month. The Report shall also contain, or Biotec shall otherwise timely provide to EC, such additional technical information as EC may reasonably request to determine and evaluate the research and development services provided by Biotec and the amount due Biotec hereunder. The parties agree and acknowledge that the Pro Forma Billing Rates are intended to reflect the parties' best estimate of 105% of the actual cost that will be incurred by Biotec in transferring information or rendering research and development services to EC, which actual cost shall include all direct expenses (including labor and materials) incurred by Biotec and an allocable portion of Biotec's indirect expenses (including, without limitation, an allocable share of overhead and the salaries and compensation of administrative personnel), plus a 5% markup, but excluding the direct, out-of-pocket expenses incurred by Biotec and paid to third parties specifically in connection with Requested Services to EC hereto that are subject to reimbursement pursuant to Section 2.3 hereof (such actual direct and indirect costs so incurred by Biotec, increased by the 5% markup, are referred to herein as the "Services Fee").
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Related to FEE FOR REQUESTED SERVICES

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