definiens: means the equivalent of one person working full time for one 12 - month period in a research, development, commercialization, regulatory or other relevant capacity, approximating [ * ] hours per year . In the interests ofclarity, though, a single individual who works more than [ * ] hours in a single year shall be treated as one FTEregardless of the number of hours worked . FTE effort shall be charged by calculating the individual ’s total hoursdedicated to the applicable activities under this Agreement as a percentage of total hours worked multiplied by theFTE Rate . By way of example, and not in limitation of the foregoing, ( a ) if a full - time, salaried employee spends100 % of his or her effort hours on the applicable activities under this Agreement, the FTE charge - out rate shall becalculated as the FTE Rate multiplied by 100 %, ( b ) if a full - time, salaried employee spends 50 % of his or her efforthours on the applicable activities under this Agreement, the FTE charge - out rate shall be calculated as the FTE Ratemultiplied by 50 %, and ( c ) if a seventy - five percent ( 75%)-time, salaried employee spends fifty percent ( 50 % ) of hisor her efforts on the applicable activities under this Agreement, the FTE charge - out rate shall be [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSIONPURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED