Sales Force FTE Rate means on a country-by-country and Therapeutic Area-by-Therapeutic Area basis (a) for each of the Major Market Countries for the Contract Year in which the First Commercial Sale in such country occurs, a rate agreed upon in local currency by the Parties at least eighteen (18) months prior to the Anticipated First Commercial Sale in such country or (b) for each of the Rest of World Countries in which Regeneron has exercised its option to Co-Promote, for the Contract Year in which Co-Promotion begins in such country, a rate agreed upon in local currency by the Parties at the time Regeneron exercises such option, in the case of (a) or (b), based on the fully burdened field force cost of major pharmaceutical companies in such country, such rates to be adjusted as of January 1 of each subsequent calendar year by the percentage increase or decrease, if any, in the CPI.
Sales Force FTE Rate means, on a Region-by-Region or one or more Major Market Countries basis (determined based on the location of the sales representative), a rate agreed upon in local currency by the Parties at least eighteen (18) months prior to the Anticipated First Commercial Sale in the Region or Major Market Country, as applicable, based upon the fully burdened cost of sales representatives of pharmaceutical companies in the Field in the applicable country, and including an allocation of regional and country sales force management cost, to be approved six (6) months prior to the first Commercial Sale, such amount to be adjusted as of January 1 of each following Contract Year by the percentage increase or decrease, if any, in the applicable CPI through June 30 of the prior calendar year. The Sales Force FTE Rate shall be inclusive of Out-of-Pocket Costs and other expenses for the employee providing the services, including travel costs, information systems and allocated costs, such as, for example, allocated overhead costs.
Sales Force FTE Rate means the applicable rate agreed by the Parties in writing as of the Effective Date with respect to each Party’s sales representatives, per Sales Force FTE per year (as of the Effective Date), increasing by [*] percent ([*]%) of the then-current Sales Force FTE Rate on [*] and each subsequent Calendar Year. The Sales Force FTE Rate includes costs associated with salaries, payroll taxes, bonuses, benefits, recruiting, relocation, employee stock option programs or stock grants, retirement programs, and applicable overhead (e.g., facilities, operating supplies, travel and training).
Examples of Sales Force FTE Rate in a sentence
Notwithstanding anything herein to the contrary, upon the request of either Party, the Parties shall meet to review the accuracy of an applicable FTE rate in any country (e.g., Sales Force FTE Rate, Medical Post-Approval FTE Rate, Development FTE Rate, etc.).
The Sales Force FTE Rate is intended to include the following costs: The fully burdened cost of sales representatives, including an allocation of regional and country sales force management cost, inclusive of out-of-pocket costs and other expenses for the employee providing the services, including travel costs, information systems and allocated costs, such as, for example, allocated overhead costs.
Schedule A List of Blended Rates Schedule B The Sales Force FTE Rate will be adjusted [***], no later than [***] of each year, pursuant to Section 7.2.13 of the Agreement and the following principles: the Sales Force FTE Rate in the U.S. will be based on actual recorded expenses without [***]; the Sales Force FTE Rate outside the U.S. (i.e., the Blended Rates) will be based on actual recorded expenses[***].
Notwithstanding anything herein to the contrary, upon the request of either Party (such request to occur not more than once every three years for any Major Market Country), the Parties shall meet to review the accuracy of an applicable FTE rate used herein in any Major Market Country (e.g., Sales Force FTE Rate, Medical Affairs FTE Rate, Development FTE Rate, etc.) or Overhead Charge.
An illustrative calculation of the Sales Force FTE Rate in the U.S. for 2021 (i.e., [***]) is attached as Exhibit A.
More Definitions of Sales Force FTE Rate
Sales Force FTE Rate means, for the Calendar Year in which the First Commercial Sale in the United States occurs, a rate agreed upon by the Parties at the time the Commercialization Plan is agreed upon by the Parties, based on the fully burdened field force cost reasonably appropriate for the United States.
Sales Force FTE Rate has the meaning set forth in the Financial Exhibit.
Sales Force FTE Rate means [*] of the gross salaries (including (x) any cash bonus or other performance-based cash incentive payments, to the extent based directly on sales or promotion of the Products (and not other products), and (y) any non-equity bonus tied to the overall performance of an individual Sales Representative FTE, but not based on sales or promotion of the Products or any other products, but excluding for clarity any non-cash based performance incentive payments) of Sales Representative FTEs who are Detailing the Product under and in accordance with the Co-Promotion Plan. It is understood that the Sales Force FTE Rate shall be deemed to include any automobile allowance, meal expenses, travel/housing for meetings and other incidental expenses incurred by such personnel in the ordinary course of employment (i.e., such amounts shall not be considered “salary” and shall not otherwise be included as out-of-pocket expenses, but shall be deemed reimbursed by means of the Total Sales Representative Costs determined by multiplying the Sales Force FTE Rate by the applicable percentage(s) set forth in the definition of Total Sales Force Costs, below.
Sales Force FTE Rate means, on a Region-by-Region or one or more Major Market Countries basis (determined based on the location of the applicable FTE), a rate agreed upon in local currency by the Parties at least eighteen (18) months prior to the Anticipated First Commercial Sale of the first Licensed Product in the Region or Major Market Country, as applicable, based upon the fully burdened cost of sales representatives, reimbursement representatives and account managers of pharmaceutical companies in the Field in the applicable country, such amount to be adjusted as of January 1 of each following Contract Year by the percentage increase or decrease, if any, in the applicable CPI through June 30 of the prior Contract Year. The Sales Force FTE Rate shall be inclusive of the FTE Costs and Expenses.
Sales Force FTE Rate means for any Sales Force Representative of BeiGene [*], increasing by the rate of [*] on each January 1st beginning on January 1, 2021. The Sales Force FTE Rate includes costs associated with salaries, payroll taxes, bonuses, benefits, recruiting, relocation, employee stock option programs or stock grants, retirement programs, and applicable overhead (e.g., facilities, operating supplies, travel and training).
Sales Force FTE Rate means, on a Region-by-Region or one or more Major Market Countries basis (determined based on the location of the sales representative), a rate agreed upon in local currency by the Parties at least eighteen (18) months prior to the Anticipated First Commercial Sale in the Region or Major Market Country, as applicable, based upon the fully burdened cost of sales representatives of pharmaceutical companies in the Field in the applicable country, and including an allocation of regional and country sales force management cost, to be approved six (6) months prior to the first Commercial Sale, such amount to be adjusted as of January 1 of each following Contract Year by the percentage increase or decrease, if any, in the applicable CPI through June 30 of the prior calendar year. The Sales Force FTE Rate shall be inclusive of Out-of-Pocket Costs and other expenses for the employee providing the services, including travel costs, information systems and allocated costs, such as, for example, allocated overhead costs. 1.110 "Sanofi Intellectual Property" shall mean the Sanofi Patent Rights and the Sanofi Know-How. 1.111 "Sanofi Know-How" shall mean any and all Know-How now or hereafter during the term of the Discovery Program or the Collaboration owned by, licensed to or otherwise held by Sanofi or its Affiliates (other than Regeneron Know-How and Know-How included in Joint Inventions) with the right to sublicense the same that relate to a Licensed Product in the Field and are necessary or useful for the Development, Manufacture or Commercialization of a Licensed Product in the Field, including, without limitation, New Information. 1.112 "Sanofi Patent Rights" shall mean those Patent Rights which, (a) at the Effective Date or at any time thereafter during the Term, are owned by, licensed to or otherwise held by Sanofi or any of its Affiliates (other than Regeneron Patent Rights and Patent Rights included in Joint Inventions), with the right to license or sublicense the same, and (b) include at least one Valid Claim which would be infringed by the Development, Manufacture or Commercialization of a Licensed Product in the Field, but only to such extent. 1.113 "Sanofi Stock Purchase Agreement" means the Stock Purchase Agreement dated as of the Effective Date by and between Sanofi Amerique, Aventis LLC and Regeneron. 1.114 "Shared Commercial Expenses" shall mean the sum of the following items, in each case to the extent directly attributable to Commercialization of Lice...
Sales Force FTE Rate means (i) for sales representatives in the U.S[***] and (ii) for sales representatives in other geographic locations, the applicable Blended Rate. The Sales Force FTE Rate includes the categories set forth on Schedule B. The Sales Force FTE Rate shall be reviewed and adjusted annually pursuant to the principles set forth on Schedule B.