Common use of FTE Rate Clause in Contracts

FTE Rate. The term “FTE Rate” shall mean *** per full-time equivalent employee (or consultant, as applicable) per year, which amount represents the fully-burdened rate and shall be subject to adjustment on an annual basis as of January 1 of each year, beginning in 2010, by a factor which reflects any change in the Consumer Price Index for All Urban Consumers (CPI-U) — All Items (U.S. city average), as reported by the U.S. Bureau of Labor Statistics, for January 1 of such year when compared to the comparable statistic for January 1 of the preceding year.