Development FTE Rate definition

Development FTE Rate means a rate of [***] per Development FTE per Calendar Year (pro-rated for the period beginning on the Effective Date and ending on the last day of the first Calendar Year of the Term); provided, however, that [***]. The Development FTE Costs are “fully burdened” and will cover employee salaries and overhead allocated to such employee’s work hereunder, including such facilities and equipment and other materials and services, including ordinary laboratory consumables procured from distributors of relevant products as they may use.

Development FTE Rate means [**********] in Contract Year 2003, such amount to be adjusted as of January 1, 2004 and annually thereafter by the percentage increase or decrease, if any, in the CPI since the Effective Date or the latest adjustment hereunder, whichever is later.

Development FTE Rate means [***] U.S. Dollars ($[***]) per Development FTE, increased annually beginning on January 1, 2016 and thereafter on January 1 of each succeeding year by the percentage increase in the PPI (Pharmaceuticals for human use; prescription, code: SI07003) as of December 31 of the then most recently ended Calendar Year over the level of the PPI (Pharmaceuticals for human use; prescription, code: SI07003) on December 31, 2014. For clarity, the Development FTE Rate includes the cost of laboratory supplies and overhead.

Examples of Development FTE Rate in a sentence

• 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.).

• To the extent payable by Sanofi hereunder, Principia’s Development FTEs incurred in connection with the Early Development Plan will be charged at the Development FTE Rate.

• Principia will, [*], provide reasonable consultation and assistance (“Transfer Assistance”) after the Effective Date in accordance with the Transfer Plan, which will include a reasonable maximum number of hours that Principia will commit to such transfer without cost to Sanofi, after which Principia will have the right to charge Sanofi at the Development FTE Rate for its services in connection with such transfer, if needed, subject to any limitations set forth in the Transfer Plan.

• 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.

• Subject to Section 5.1 below, all Manufacturing development activities performed hereunder shall be charged by Alkermes as Development Costs pursuant to the License and Collaboration Agreement with the activities performed by the Alkermes FTEs billed at the Development FTE Rate.

More Definitions of Development FTE Rate

Development FTE Rate shall have the meaning assigned in Section 4.3.

Development FTE Rate means initially an amount equal to $[***] per FTE per year; on January 1, 2024, and annually thereafter, such amount will be adjusted to reflect any increase, since the prior adjustment (or the initial rate, as applicable), based on the most recent monthly index available as of the adjustment date set forth in the Bureau of Labor Statistics Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), all items less food and energy, which, for clarity, was $[***] in June 2022.

Development FTE Rate means (a) for each FTE based in the US, $[***] per FTE per Contract Year, adjusted each Contract Year on January 1 (commencing on January 1, 2019) in accordance with any CPI Adjustment, and (b) for each FTE based outside the U.S., such amount as the Parties shall agree to, in writing, in the local currency in the country where such FTE is based (which shall be converted into United States Dollars in accordance with Section 9.8). [***].

Development FTE Rate means a rate of [***] per FTE per Calendar Year (pro-rated for the period beginning on the Effective Date and ending on the last day of the first Calendar Year of the Term); provided, however, that such rate shall be increased or decreased annually beginning on January 4, 2016 by the [***] The Development FTE Rate is "fully burdened" and will cover employee salaries and such facilities and equipment and other materials and services, including ordinary laboratory consumables procured from distributors of relevant products as they may use.

Development FTE Rate means a rate of $[***] per Development FTE per Calendar Year (pro-rated for any partial Calendar Years during the Term). Beginning on January 1, 2025 and on January 1 of each subsequent Calendar Year during the Term, the Development FTE Rate is subject to annual adjustment by the percentage increase or decrease in the applicable CPI comparing the levels of the applicable CPI as of December 31 of the two most recently completed Calendar Years. [***]

Development FTE Rate means [*] per FTE, which amount shall be adjusted in proportion to the United States Consumer Price Index — All Urban Consumer, as published by the U.S. Department of Labor, Bureau of Labor Statistics, upon each anniversary of the Effective Date during the Term, for scientific, medical, technical, research, clinical, regulatory, Manufacturing and managerial personnel engaged in activities under the Development Plan.

Development FTE Rate shall have the meaning set forth in the License and Collaboration Agreement.