Common use of Budget Development Clause in Contracts

Budget Development. LE shall consult with Agent to jointly develop an annual budget for the Services, including allocation of Agent personnel and identification of “Key Personnel” as defined in Section 5(g), above, which allocation of personnel shall include the identification of Key Personnel, travel expectations, and FOB forecast consistent with practices in effect immediately prior to the Effective Date. To achieve this budget, LE shall supply Agent with such forecasting, and Agent shall develop a proposed budget for LE’s review within fifteen days of submission of the forecast. LE and Agent shall meet quarterly to review (i) LE’s reporting information and (ii) Agent’s monthly actual shipment report submitted to LE, and shall adjust the budget as necessary for the following quarter(s). As part of this process, the Parties will align on the allocation of Agent personnel primarily designated to perform the Services; and after receiving the written consent of LE, Agent may use any excess capacity of such designated personnel to perform the Services for non-LE projects, provided, however, that in no event shall the designated personnel be used for projects for any Business Competitor of LE.