FTE Rate Adjustment. Following the end of the first partial calendar year of the Term, the FTE Rate used to calculate Internal Costs for each subsequent calendar year during the Term shall be adjusted annually during the first calendar quarter of such subsequent calendar year based on the change in the rate of the Employment Cost Index for total compensation for the “management, professional and related” occupational group, as published by the United States Department of Labor, Bureau of Labor Statistics from the beginning to end of the previous calendar year (or any similar index agreed upon by the Parties if such index ceases to be compiled and published).
Appears in 4 contracts
Samples: Development Agreement, Development Agreement (Cyclerion Therapeutics, Inc.), Development Agreement (Cyclerion Therapeutics, Inc.)
