Common use of TECHNICAL SUPPORT FEES Clause in Contracts

TECHNICAL SUPPORT FEES. CABG agrees to pay SURMODICS for technical support that SURMODICS provides to CABG for CABG’s products (“Technical Support Fees”) if such technical support is provided to CABG under a mutually agreed upon written project plan. SURMODICS shall charge CABG for such support at SURMODICS’ then-standard rates. As of May 1, 2004, SURMODICS’ standard rates for Technical Support Fees are $*** per-hour for standard-testing coating work, $*** per-hour for coating parts used in human clinical trials, and $*** per-hour for SURMODICS’ analytical chemistry services. SURMODICS may change its Technical Support Fees with forty-five (45) days advance written notice to CABG. SURMODICS shall additionally charge direct materials plus *** percent (*%). Direct materials may include expenses such as travel and special equipment, but only as mutually agreed upon in writing. SURMODICS shall invoice CABG monthly for such Technical Support Fees, and CABG shall make payment to SURMODICS within forty-five (45) days after the date of the invoice.