Grant Release Clause Samples
A Grant Release clause defines the conditions under which a party releases or waives certain rights, claims, or interests, typically in relation to a grant of funds, property, or intellectual property. In practice, this clause may specify that upon receipt of a grant, the recipient agrees not to pursue further claims against the grantor regarding the subject matter of the grant, or it may require the grantor to release any retained rights once certain obligations are fulfilled. The core function of this clause is to provide legal certainty and finality by clarifying the parties' rights and obligations after the grant is made, thereby preventing future disputes over the same subject matter.
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Grant Release a. A faculty member who is included in a grant intended to pay for research time (with or without special teaching provisions included) shall have his or her work load reduced by the number of hours equivalent to the amount of research time (release time).
b. The Faculty Member and the University agree to a work schedule that ensures that the corresponding portion of the grant funded research will not be performed during hours that the Faculty Member is scheduled to teach.
c. The Principal Investigator (PI) of a research grant will receive an incentive payment of 20% of his salary, equivalent to 20% of the release time pay. This incentive payment does not become part of the Faculty Member’s base academic year salary.
d. In the case of multiple Principal Investigators on a single grant without specifically delineated amounts of release time to each Principal Investigator, the payment to each will be prorated based on each investigator’s contribution. In such cases, the shares must have been determined at the time the grant application (and agreed to by joint PI) is approved by the University.