Development FTE definition
Development FTE means [***] hours of work per annum devoted to or in support of the Development or Manufacture of an Agreement Product that is carried out by one or more qualified scientific or technical employees (excluding Third Party contractors) of a Party or its Affiliates.
Development FTE means (a) with respect to Principia, the equivalent of a full-time individual’s work time for a twelve (12) month period on Development of Compounds or Products under the EDP, based on an expected [*] hours per year, and (b) with respect to Sanofi, the equivalent of a full-time individual’s work time for a full person year as defined under the relevant country-specific applicable policies in accordance with Sanofi SOPs. In the case that any personnel of a Party works partially on the Development of Compounds and Products and partially on other unrelated work in a given fiscal year, then the full-time equivalent to be attributed to such individual’s work hereunder will be equal to the percentage of such individual’s total work time in such fiscal year that such individual spent working on activities related to the Development of Compounds and Products, determined in accordance with the previous sentence. FTE efforts will not include the work of general corporate personnel. Principia will track FTEs using its standard practice and methodologies, and Sanofi will track FTEs using Sanofi SOPs. [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
Development FTE means an FTE employed by a Party or its Affiliate expended in directly performing or supporting any Development activities under the Global Development Plan, such as scientific, medical, technical, or other personnel as appropriate for the applicable Development activity, including administrative employees dedicating more than [**] percent ([**]%) of their FTE time to support Development activities hereunder. For clarity, such administrative employees exclude back-office employees such as human resources, accounting, information technology, and legal personnel.
Examples of Development FTE in a sentence
Genzyme shall reimburse Voyager on a quarterly basis for Development FTE Costs, Out-of-Pocket Costs and Cost of Goods incurred by Voyager in the performance of Transition Activities, within [***] after receipt by Genzyme of an invoice for such amounts from Voyager.
Genzyme will reimburse Voyager for its Development FTE Costs (for Development FTEs directly engaged to perform such Technology Transfer) and Out-of-Pocket Costs incurred in the course of such Technology Transfers, provided that such Out-of-Pocket Costs are incurred in accordance with the mutually-agreed technology transfer plan and Voyager provides an invoice to Genzyme evidencing such costs.
Notwithstanding anything herein to the contrary, upon the request of either Party, the Parties shall meet to review the accuracy of an applicable FTE rate in any country (e.g., Sales Force FTE Rate, Medical Post-Approval FTE Rate, Development FTE Rate, etc.).
Akcea will reimburse Isis for (i) Isis’ Development FTE Costs related to conducting the Isis Post-FTE Cutoff Date Development Activities and (ii) Isis-Incurred Development Costs necessary for Isis to conduct the Isis Post-FTE Cutoff Date Development Activities.
Notwithstanding anything herein to the contrary, upon the request of either Party (such request to occur not more than once every three years for any Major Market Country), the Parties shall meet to review the accuracy of an applicable FTE rate used herein in any Major Market Country (e.g., Sales Force FTE Rate, Medical Affairs FTE Rate, Development FTE Rate, etc.) or Overhead Charge.
More Definitions of Development FTE
Development FTE means (a) with respect to Company, [***] hours of work devoted to or in direct support of the Global Development Activities by one or more qualified employees or contractors or consultants of Company or its Affiliates, as measured in accordance with Company’s normal time allocation practices, or (b) with respect to MacroGenics, [***] of work devoted to or in direct support of the Global Development Activities, pursuant to Section 4.2(c) or providing assistance to Company pursuant to Section 5.2 or Section 7.1 by one or more qualified employees or contractors or consultants of Company or its Affiliates, as measured in accordance with MacroGenics’ normal time allocation practices, provided that, in each case ((a) and (b)) such employees or contractors or consultants must be [***].
Development FTE means a full time equivalent employee (1800 hours per year) devoted to or in support of the Development of Licensed Products (including activities set forth in the CMC Plan) that is carried out by one or more qualified employees or of a Party or its Affiliates, including scientific, medical, technical and other personnel engaged in performing Development activities with respect to the Licensed Products (including the compound development teams and project management teams that support the Licensed Products). Development FTE shall not include work performed by personnel performing administrative and corporate functions (including human resources, finance, legal and investor relations). For clarity, any individual contributing less than 1,800 hours per Calendar Year shall be deemed a fraction of an FTE on a pro-rata basis beginning on the Effective Date and ending on the last day of the first Calendar Year. Overtime and work on weekends, holidays and the like will not be counted with any multiplier (e.g., time-and-a-half or double time) toward the number of hours that are used to calculate the FTE contribution. For the avoidance of doubt, no individual will count as more than one FTE for any year.
Development FTE means the contribution of time equivalent to one (1) year of a full-time employee qualified to perform the Development duties assigned to such employee under the Collaboration Plans, based on the assumption that one full-time employee devotes one thousand eight hundred (1,800) hours of work to his or her duties per year. Development FTEs may comprise one or more qualified employees or contractors or consultants of Theravance or its Affiliates or ▇▇▇▇▇▇▇ or its Affiliates, but shall not include personnel performing administrative and corporate functions (including human resources, finance, legal and investor relations).
Development FTE means a scientific or technical person employed by a Party or a Party's Affiliates and assigned to work on Development with such time and effort to constitute one person working on Development on a full time basis consistent with normal business and scientific practice (e.g., having appropriate education, training and experience and working *** hours per year of dedicated effort).
Development FTE means an FTE performing Development activities under the GDP.
Development FTE means [***] hours of work per Calendar Year in direct support of the Development of the Licensed Products that is carried out by one or more qualified employees or contractors or consultants of ▇▇▇▇▇▇▇ or its Affiliates, provided that one individual conducting more than [***] hours of work in any Calendar Year will not be considered more than one Development FTE and, in the case of work by an individual that is less than [***] hours, will be pro-rated based on the actual number of hours expended by such individual. Development FTE includes scientific, medical, technical and other personnel directly engaged in performing Development activities with respect to the Licensed Products (including the project management teams that support the Licensed Products). Development FTE will not include work performed by personnel performing administrative and corporate functions (including human resources, finance, legal and investor relations).
Development FTE means [***] hours of work devoted to or in direct support of the Development of the Profit Share Product that is carried out by one or more qualified employees or contractors or consultants of a Party or its Affiliates, provided that one individual conducting more than [***] hours of work in any Calendar Year will not be considered more than one Development FTE and, in the case of work by an individual that is less than [***] hours, will be pro-rated based on the actual number of hours expended by such individual. Development FTE includes scientific, medical, technical and other personnel directly engaged in performing Development activities with respect to the Profit Share Product (including the project management teams that support the Profit Share Product). Development FTE shall not include work performed by personnel performing administrative and corporate functions (including human resources, finance, legal and investor relations).