Research Staffing and Funding Sample Clauses

Research Staffing and Funding. (a) Funded CytomX FTEs; FTE Rate. Subject to Section 3.4(b), BMS will fund at the FTE Rate, and CytomX will provide the number of CytomX FTEs per Research Year during the Research Term to perform activities in support of the Preclinical Development Program, in accordance with the then-current Preclinical Plan, and in accordance with this Section 3.4. Throughout the Research Term, CytomX shall assign no less than the number of qualified CytomX FTEs in accordance with this Section 3.4 to perform the work set forth in the then-applicable Preclinical Plan, which currently contemplates [***]. The professional skills and expertise levels of such FTEs shall be appropriate to the scientific objectives of the Preclinical Development Program. The FTE Rate during the Research Term shall be [***]. For the avoidance of doubt, nothing in this Agreement herein shall be considered to establish an employment relationship between BMS and the CytomX FTEs funded by BMS pursuant to this Agreement.

Research Staffing and Funding. Versicor agrees to provide contract R&D services to P&U in support of the Research Project, and P&U agrees to provide Versicor funding to support the Research Project as follows: (a) Versicor shall employ a total of at least ten (10) FTEs, and Versicor agrees that the chemistry FTEs shall be dedicated full time to the Research Plan, while other FTEs under the Research Plan may be allocated as appropriate. (b) Within fifteen (15) days of the Effective Date, P&U will pay Versicor One Million Two Hundred Thousand Dollars ($1,200,000) as a 1999 contract research service fee. Additionally, P&U will provide Versicor funding to support the FTEs employed by Versicor that are dedicated full time to the Research Project on a fully allocated FTE basis, in an amount equal to: (i)[ * ] per FTE per year for the first year of the Research Project; (ii) [ * ] per FTE per year for the second year of the Research Project; and (iii) [ * ] per FTE per year for the third year of the Research Project, all in accordance with the FTE requirements set forth in the Research Plan. The amounts referenced in (i), (ii) and (iii) above shall be payable in advance in four quarterly installments during each calendar year on or before the beginning of each calendar quarter. Any payments for a portion of a quarterly period shall be made on a pro rata basis. The first such payment shall be made within ten (10) days of the Effective Date. P&U will bear all of its own expenses incurred in connection with the Research Project. [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. (c) In the event Versicor exercises the Put Option provided in Section 1.2(b) of the SPA to require an additional equity investment from P&U, and Versicor exercises such Put Option AFTER Versicor's firm commitment, underwritten initial public offering, P&U will pay Versicor an additional [ * ] as reimbursement to Versicor for that year's research and development expenses of the Research Project. Such payment will be made to Versicor, if at all, only in conjunction with (and not independent of) the proper exercise by Versicor of the Put Option as set forth in Section 1.2(b) of the SPA (including without limitation giving the appropriate notice to P&U as required in such Section). (d) Versicor agrees that P&U is entitled to claim the FTE suppo...

Research Staffing and Funding. Versicor agrees to provide contract R&D services to P&U in support of the Research Project, and P&U agrees to provide Versicor funding to support the Research Project as follows: [ * ] [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. [ * ]

Research Staffing and Funding