R&D Clause Samples
The R&D clause defines the terms and conditions under which research and development activities are conducted between the parties. It typically outlines the scope of the R&D work, responsibilities for funding, ownership of resulting intellectual property, and confidentiality obligations. For example, it may specify which party leads the research, how results are shared, and how inventions are handled. The core function of this clause is to ensure clear expectations and protect the interests of both parties during collaborative innovation efforts.
R&D. The Excluded Assets do not contain any items of research and development which are material to the Business.
R&D. The Parties each agree to establish a dedicated engineering contacts team to address the technical requirements of each Party. EG4 agrees to share with Company all feedback from its R&D testing along with all competitive analyses in order to improve the overall solution. Each Party agrees to use commercially reasonable measures to accommodate the modifications requested by the other Party.
R&D. Notwithstanding any exclusive rights and licenses granted to BH in Section 2.1, Section 2.2, or Section 2.3, NET Power shall retain a non-exclusive right to undertake its internal research and development activities with respect to KPEPs as identified below in this Section 2.7, and NET Power shall retain a non-exclusive right to perform its obligations pursuant to the Joint Development Agreement. For the avoidance of doubt, there is no restriction (internal or external) on the research and development activities of NET Power with respect to products that are not KPEPs. In addition, after conclusion of the Turbo Expander Statement of Work (as such term is defined in the Joint Development Agreement), the exclusive rights and licenses granted to BH in Section 2.1 shall not preclude NET Power from using Technical Information in existence as of the Effective Date that is included in the Licensed IP for purposes of research and development with third parties.
R&D. 10.1 Any claim for an R&D tax credit under sections 1054 to 1060 CTA 2009 (Tax relief for expenditure on research and development) by EIPRL has been properly and validly made. 1 KLG Tax note: ▇▇▇▇▇ & ▇▇▇▇▇ to revise to reflect EIPRL VAT group arrangements.
R&D. 11.1 The Purchaser undertakes to provide or obtain funding for further research and development (which will be used for payment of all Israeli Company expenses including salaries, office expenses, professional fees and R & D costs) of the System at least $105,000 US for the first six month period from the Closing Date. Such funding shall be advanced to the Israeli Company by the Purchaser from time to time as needed as determined by the Purchaser. On or before the Closing Date at least $50,000.00 US shall have been transferred or deposited into the Israeli Company's bank account in Israel ("Initial Deposit"). The $105,000.00 mentioned in this section shall not be used for purposes other then in the ordinary course of business of the Israeli Company without the consent of the Seller.
11.2 The Initial Deposit will be designated for, inter alia, the employment of a second electrical engineer to be employed by Israeli Company as soon as operations begin and the employment of a third electrical engineer after two months of operation of the Israeli Company. The gross salary for each of the two mentioned employees shall not exceed 7000NIS and 6500NIS respectively per month.
11.3 Within twelve months of operations of the Israeli Company, the Israeli Company shall issue, upon consultation with the Seller and without payment of consideration, 5% of the ordinary shares of the Israeli Company to its employees.
11.4 A further $25,000 will be deposited in the Israeli Company account within 60 days of Closing Date and a further $45,000 will be deposited in the Israeli Company account within 150 days of the closing Date.
11.5 The Purchaser acknowledges that the Israeli Company will require premises of 20 square meters during the first six months of operations and an additional 20 square meters thereafter.
11.6 Subject to Israeli Company's receipt of a proper R & D budget plan for the second six months of operations the Purchaser undertakes to provide $120,000 for R & D during the second six months of the Israeli Company's operations.