Common use of PROJECTS FUNDING Clause in Contracts

PROJECTS FUNDING. Finep and the RCN will use their own financial instruments to support the participants in the project, according to their norms, which can be found at xxxx://xxx.xxxxx.xxx.xx and xxxx://xxx.xxxxxxxxxxxxxxx.xx. The funding from Finep and the RCN will be in the form of grants. Finep will fund the Brazilian applicants and the Brazilian project partners eligible for public support. Likewise, the RCN will fund the Norwegian applicants and the Norwegian project partners eligible for public support. Eligible costs and expenses may vary according to the regulations in Brazil and Norway. Applicants must read the regulations as posted on the Finep and the RCN websites, or contact the respective national contact points in Brazil and Norway (see details in the “Contacts” section) for information. In Brazil: The Finep will allocate up to R$ 15 million for this joint call, with the intention of splitting the funding equally between projects within petroleum and renewable energy. Additionally, the National Fund for Science and Technology (FNDCT) will allocate up to R$ 3 million to the National Council for Scientific and Technological Development (CNPq) in order to finance international grants for participants of the Brazilian team for activities in Norway. All grants will follow the rules of the Technological Development and Innovation Abroad Junior & Senior Grants (DEJ & DES). Each Brazilian candidate company must elect a Brazilian Coordinator with updated Lattes CV that will be responsible for appointing the grantees of the approved proposal. Funding of selected projects, rules for installments, evaluation of reports and other details of the project for Finep will be define according to technical criteria regarding Brazilian legislation. If and when inaccuracies or changes in the project already approved are necessary, the Parties shall inform each other and they should be implemented only if approved by each Party.

PROJECTS FUNDING. Finep and the RCN will use their own financial instruments to support the participants in the project, according to their norms, which can be found at xxxx://xxx.xxxxx.xxx.xx and xxxx://xxx.xxxxxxxxxxxxxxx.xx. The funding from Finep and the RCN will be in the form of grants. Finep will fund the Brazilian applicants and the Brazilian project partners eligible for public support. Likewise, the RCN will fund the Norwegian applicants and the Norwegian project partners eligible for public support. Eligible costs and expenses may vary according to the regulations in Brazil and Norway. Applicants must read the regulations as posted on the Finep and the RCN websites, or contact the respective national contact points in Brazil and Norway (see details in the “Contacts” section) for information. The number of funded projects will strongly depend on the number and quality of the submitted applications and the available funds. In Brazil: Financial support for each of the applicants will be given according to Xxxxx’s established conditions. Non-reimbursable financial resources from economic subvention will be committed by the National Fund for Scientific and Technologic Development (Portuguese acronym – FNDCT) up to the global limit of R$ 10.000.000,00 (ten million reais). Only a part of each selected project in this process will be supported by Xxxxx, being the rest supported by the company or company group responsible for the selected project as a minimum mandatory contribution, as disposed on the regulation document for Brazilian applicants that is part of this joint call. In Norway: The Finep RCN, represented by PETROMAKS 2, will allocate up to R$ 15 NOK 20 million for this joint call. The Norwegian funding will be distributed through the application type Knowledge-building Project for Industry (KPN). Please find the description of the application type along with rules and regulations for this type of project on the web page xxxx://xxx.xxxxxxxxxxxxxxx.xx/en/Knowledgebuilding_project_for_industry/1253963988225. It is important to emphasize the following:  Only universities, university colleges and research institutes according to the Research Council's definition of approved research institutions are eligible applicants and can receive public funding.  The industrial partners must cover their own costs and contribute with additional cash to cover costs at the research institutions. The total amount of support from the Research Council of Norway cannot exceed 4 times the cash financing from Norwegian industry partners.  The funding from PETROMAKS 2 to the Norwegian applicant will be given in compliance with the intention of splitting EU state aid rules. The funding shall be allocated to non-economic activities at the funding equally between projects within petroleum and renewable energy. Additionally, the National Fund for Science and Technology (FNDCT) will allocate up to R$ 3 million to the National Council for Scientific and Technological Development (CNPq) in order to finance international grants for participants of the Brazilian team for activities in Norway. All grants will follow the rules of the Technological Development and Innovation Abroad Junior & Senior Grants (DEJ & DES). Each Brazilian candidate company must elect a Brazilian Coordinator with updated Lattes CV that will be responsible for appointing the grantees of the approved proposal. Funding of selected projects, rules for installments, evaluation of reports and other details of the project for Finep will be define according to technical criteria regarding Brazilian legislation. If and when inaccuracies or changes in the project already approved are necessary, the Parties shall inform each other and they should be implemented only if approved by each PartyNorwegian research institution.