Funds Matching Program Clause Samples

Funds Matching Program. In addition to the amounts described in Section 1 of this Funding Agreement, ISOC will participate in a funds matching program (“Funds Matching Program”). The program applies to contributions made by any third party to the IETF Endowment or to any Special Purpose Fund created by the IETF. A “Special Purpose Fund” means a fund dedicated to the support of a specific long- term (multi-year) strategic initiative. Together, funds contributed to the IETF Endowment or a Special Purpose Fund are “Program Funds.” For each dollar of Program Funds contributed by a third party and received by IETF LLC, ISOC will contribute two dollars of matching funds, until the total amount of Program Funds contributed by third parties and received by IETF equals $12,000,000. Thereafter, ISOC will contribute one dollar of matching funds for each additional dollar of Program Funds contributed by third parties and received by IETF LLC until that amount equals an additional $6,000,000 and the total amount of Program Funds contributed by third parties and received by IETF equals $18,000,000. ISOC’s contributions are defined as “Matching Funds” and are to be capped at $30,000,000 for the Matching Period (as defined below). For the avoidance of doubt, any amount pledged to IETF LLC by a third party shall not be matched by ISOC until the pledged amount is actually received by IETF LLC.