definiens: means the direct cost of the applicable good, pro duct or service plus indirect charges and overheads reasonably allocable to the p rovision of such good, product or service in accord ance with US GAAP . Subject to the approval of a project and i ts associated budget by the JSC and the terms of Se ctions 4.6 and 4.7 ( as appropriate ), [COMPANY] will bill fo r its internal direct costs incurred through the us e of annualized standard full - time equivalents ; such rate shall be based upon the actual fully loaded costs of those p ersonnel directly involved in the provision of such good, pr oduct or service . [COMPANY] may, from time to time, adjust such full - time equivalent rate based on changes to its a ctual fully loaded costs and will review the accura cy of its full - time equivalent rate at least quarterly . [COMPANY] s hall provide Synthetic with reasonable documentatio n indicating the basis for any direct and indirect charges, any allocable overhead, and any such adjustment in full -time equivalent rate