Benefits Commitments Sample Clauses
The Benefits Commitments clause defines the obligations of a party, typically an employer, to provide certain benefits to another party, such as employees or contractors. This clause outlines the specific types of benefits covered, which may include health insurance, retirement plans, paid leave, or other perks, and details the conditions under which these benefits are granted or maintained. Its core practical function is to ensure clarity and enforceability regarding the provision of benefits, thereby preventing misunderstandings or disputes about what benefits are owed and under what circumstances.
Benefits Commitments. The Recipient agrees to conduct Benefits Commitments exclusively in Canada.
Benefits Commitments. The Recipient covenants and agrees to the following:
Benefits Commitments. 6.2.1 Create and maintain high-skilled jobs in Canada
(a) [***]
(b) [***]
6.2.2 Collaborations with Canadian research institutes, any licensed or accredited academic, post-secondary institutions in Canada
(a) [***]
(b) [***]
(c) [***]
6.2.3 Collaborations with any small and medium-sized Canadian-based enterprises
(a) [***]
(b) [***]
Benefits Commitments. 6.3.1 Strengthen Canada’s response to COVID-19
(a) The Recipient commits to work with [______] to ensure that any treatment developed within the scope of this Project will be accessible and available for the Canadian population on a timely basis. [Name of party omitted as competitively sensitive information.]
(b) The Recipient will [______] to ensure that, once commercially available, the treatment will be made available globally. [Nature of action omitted as competitively sensitive information.]
(c) The Recipient commits to work with [______] and other parties, in good faith and [______], to increase domestic and global affordability and access to Resulting Products, in accordance with relevant guidance and policies published by the World Health Organization and the United Nations. [Name of party and nature of commitment omitted as competitively sensitive information.]
6.3.2 Create and maintain highly-skilled jobs in Canada
(a) The Recipient will create at least six (6) FTEs in Canada [______] while maintaining its existing eight (8) FTEs in Canada, totaling fourteen (14) FTEs [______]. [Timeframe of creating FTEs omitted as competitively sensitive information.]
(b) The Recipient will maintain [______] fourteen (14) FTEs [______]. [Timeframe and calculation of number of FTEs omitted as competitively sensitive information.]
(c) The Recipient will provide [______]. [Nature, timeframe and recipient of information provided omitted as competitively sensitive information.]
(d) To contribute to the development of tomorrow’s workforce, the Recipient will employ at least [______] ([______]) CO-OP Term position in Canada [______]. [Minimum number of CO-OP Term positions in Canada and timeframe omitted as competitively sensitive information.]
Benefits Commitments. The Recipients covenant and agree to the following:
6.2.1 Create and maintain high-skilled jobs in Canada.
(a) maintain their current [*****] full time equivalents (FTEs), and create [*****] new FTEs in Canada including [*****] Highly Skilled positions during the Work Phase;
(b) maintain at least [*****] FTEs and create an additional [*****] FTEs during the Benefits Phase;
(c) contribute to the development of tomorrow’s workforce in the digital and quantum ecosystem, over the Term. The Recipients will:
(i) create and maintain at least [*****] CO-OP positions annually from post-secondary institutions during the Work Phase; and,
(ii) create and maintain at least [*****] CO-OP positions annually from post-secondary institutions during the Benefits Phase.
6.2.2 Maintain or increase investments in Canada.
(a) invest at least [*****] in gross R&D spending in Canada during the Work Phase, and an additional [*****] during the Benefits Phase. The total gross R&D spending in Canada over the Term is to be [*****];
(b) the annual gross R&D spending is to be verified by the Recipients’ external auditor and either stated in their audited financial statements or provided in a separate statement signed by the external auditor. As the commitment in (a) is in Canadian dollars, statements must also express progress in Canadian dollars.
Benefits Commitments. 6.2.1 SIF AGREEMENT NO. 812-816041
6.2.4 Collaborations with academia nationally to share knowledge and spur innovation (a)