Common use of FTE Rates Clause in Contracts

FTE Rates. In the first Contract Year that a Party is expected to incur FTE Costs in any country or Region in connection with performing activities related to any Product under this Agreement, such incurring Party shall develop and submit to the JSC for its review, discussion, and approval pursuant to Section 4.1.3(j) (Duties of the JSC) initial FTE Rates (other than a Field Force FTE Rate) for such country or Region. Without limiting Section 9.6 (Adjustments to FTE Rate), for each upcoming Contract Year during the Term, such Party shall develop an annual update to such FTE Rates (other than the Field Force FTE Rate) for each country or Region, which rate will be adjusted by the applicable CPI Adjustment, and will submit such updated rate to the JSC for its review and approval no later than September 30 of the then-current Contract Year pursuant to Section 4.1.3(j) (Duties of the JSC).