Common use of Annual Incentive Payments to the Company Clause in Contracts

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen percent (18%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c) by the City to the Company shall not exceed Eighty-Five Thousand and 00/100 Dollars ($85,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen percent the applicable Incentive Factor (18%as defined in subsection 2(b)(v)) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c2(b) by the City to the Company shall not exceed Eighty-Five One Hundred Twenty Thousand and 00/100 Dollars ($85,000.00120,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen seventeen percent (1817%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c) by the City to the Company shall not exceed EightyOne Million Six Hundred Sixty-Five Thousand and 00/100 Dollars ($85,000.001,665,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen ten percent (1810%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c2(b) by the City to the Company shall not exceed EightySixty-Five Seven Thousand and 00/100 Dollars ($85,000.0067,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen fifteen percent (1815%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c) by the City to the Company shall not exceed EightySeven Hundred Fifty-Five Thousand and 00/100 Dollars ($85,000.00755,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of any payroll withholding tax refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) eighteen percent (18%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(c) by the City to the Company shall not exceed Eighty-Five Ninety Thousand and 00/100 Dollars ($85,000.0090,000.00).