Selection Fee Clause Samples
A Selection Fee clause defines a payment required when a party is chosen for a particular role, service, or opportunity within a contract. Typically, this fee is triggered when a candidate, vendor, or service provider is selected from a pool of options, and it may be a fixed amount or calculated as a percentage of the contract value. The core function of this clause is to compensate the selecting party for their efforts in the selection process and to formalize the financial obligation that arises upon making a selection, thereby ensuring clarity and fairness in contractual relationships.
Selection Fee. For each Confirmed Hit that BMS selects as an Additional Collaboration Target, BMS shall pay to FivePrime a non-refundable, non-creditable payment of *** within *** calendar days after BMS delivers to FivePrime the written notice identifying such Confirmed Hit as an Additional Collaboration Target pursuant to Section 4.2.2 (the “Selection Fee”).
Selection Fee. Within [***] days after each Selected Target is first selected by Juno pursuant to Section 2.8, Juno shall pay to Fate a one-time, non-refundable, non-creditable selection fee for such Selected Target, as follows: (a) for each of the first [***] Selected Targets: [***] per Selected Target, (b) for each of the [***] through [***] Selected Targets: [***] per Selected Target, and (c) for each subsequent Selected Target commencing with the [***] Selected Target: [***] per Selected Target. In addition to the foregoing, Juno shall pay to Fate within [***] days after each of the following events: (a) a one-time, non-refundable, non-creditable bonus of [***] upon the selection of the first [***] Selected Targets, and (b) a one-time, non-refundable, non-creditable bonus of [***] upon the selection of the first [***] Selected Targets.
Selection Fee. For each Selected Gene listed on Schedule 1.119, LICENSEE shall pay to AGTC a non-refundable fee of [***] (the “Selection Fee”) within forty-five (45) days after the date of the Selection Confirmation.