Research Year definition
Examples of Research Year in a sentence
At least three (3) months prior to the beginning of any extension of the Research Term, the JRC shall determine the number of Ambrx FTEs to be provided and funded by BMS to perform the Research Program during such Research Year of the Research Term, provided that if the JRC is unable to reach consensus, BMS shall have final decision making authority with respect to the number of BMS funded Ambrx FTEs, subject to Section 3.3 and this Section 3.4.
Subject to Section 3.4(b), BMS will fund at the FTE Rate, and Ambrx will provide the number of Ambrx FTEs per Research Year during the Research Term to perform activities in support of the Research Program, in accordance with the then-current Research Plan, and in accordance with this Section 3.4. Throughout the Research Term, Ambrx shall assign no less than the number of qualified scientist FTEs in accordance with this Section 3.4 to perform the work set forth in the then-applicable Research Plan.
The name, curriculum vitae, and percentage of time devoted to working on the Research Project for each scientist comprising [***] potential FTE scientists shall be provided to DPM within sixty (60) days of the Effective Date and not later than sixty (60) days prior to the start of each subsequent Research Year.
In any such subsequent Research Year, VERTEX shall be entitled to receive out of any remaining FTE Shortfall Amount a payment equal to the value (computed with reference to the inflation-adjusted FTE rate specified above) of any FTE's actually employed during that Research Year in excess of the FTE Level specified for that year ("Excess FTE's").
If the full amount of any reimbursement commitment is not applied in any Research Year, the unused balance may be carried over from year to year during the Research Program.