Calculation of Semi-Annual FTE Payments. Merck will pay Ra the FTE Rate for the number of FTEs of Ra specified in the Research Operating Plans during the Research Term. The parties agree that there will be at least [ *** ] and not more than [ *** ] FTEs for each Program Target that is part of the Research Collaboration. Such payments by Merck will be payable to Ra in an amount equal to fifty percent (50%) of the product of the FTE Rate times the number of FTEs for the relevant year (twelve month period) of the Research Term (such payment to be prorated for the last semi-annual period of the Research Term).
Appears in 3 contracts
Sources: Collaboration and License Agreement (Ra Pharmaceuticals, Inc.), Collaboration and License Agreement (Ra Pharmaceuticals, Inc.), Collaboration and License Agreement (Ra Pharmaceuticals, Inc.)