Annual Option Payments Sample Clauses

Annual Option Payments. Commencing January 1, 2016, PEF shall pay an “Annual Option Payment” equal to the product of 30% of 2,000 AF (representing the maximum Annual Volume discussed in Section 3.1 above) multiplied by that year’s Unit Volume Charge (discussed in Section 7.2 below). On or after January 1, 2017, if PEF elects to increase the maximum Annual Volume in accordance with Section 3.2 above, the Annual Option Payment shall be increased for the remainder of the Term of the Agreement such that PEF shall pay an Annual Option Payment equal to the product of 30% of 3,500 AF (representing the maximum increased Annual Volume discussed in Section 3.2 above) multiplied by that year’s Unit Volume Charge (discussed in Section 7.2 below). By way of example: Annual Option Payment for Year 2016 = (2,000 AF x 0.30) x $1,025/AF Annual Option Payment for Year 2017 After Section 3.2 Election = (3,500 AF x 0.30) x ($1,025/AF x 1.03)
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Annual Option Payments. The payments outlined below are to be made by the Optionee to the Optionor in cash prior to the annual anniversary of August 26, 2013 (the "Execution Date") of this agreement until such time as the Annual Option Payment schedule defined below has been completed. Option payments are not included in Project Expenditures (Section 4d).
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Annual Option Payments. (a) In consideration for the grant of the Call Right, subject to paragraph (b) below, Buyer shall pay to Seller, from and after the Effective Time and until the earlier of the delivery of the Call Notice (provided that the Call Closing occurs as contemplated by Section 1.4) or the termination of this Agreement (subject to and in accordance with Section 5.3), an option right payment aggregating $105 million, payable as follows (together with reference to each installment of an option payment described below, the “Annual Option Payments”): Annual Payment Applicable Periods: Amount The period commencing on the First Installment Date and ending prior to the 1st anniversary date of the First Installment Date $15 million The period commencing on the 1st anniversary of the First Installment Date and ending prior to the 2nd anniversary date of the First Installment Date $15 million The period commencing on the 2nd anniversary of the First Installment Date and ending prior to the 3rd anniversary date of the First Installment Date $20 million The period commencing on the 3rd anniversary of the First Installment Date and ending prior to the 4th anniversary date of the First Installment Date $25 million The period commencing on the 4th anniversary of the First Installment Date and ending prior to the 60th day following the 5th anniversary date of the First Installment Date $30 million Buyer shall not be required to make any payments for the grant of the Call Right or the rights associated therewith or any other option payments with respect to the EPE Entities other than the option payments specified above in this Section 1.2.
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Related to Annual Option Payments

  • Incentive Payments (i) Amount in the Event of a Termination Pursuant to Sections 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 0.500 times the sum of Employee’s most recent annual base salary and target bonus, payable in equal installments on the same pay schedule in effect at the time of termination over a period of twelve (12) months from the date of termination.

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Annual Equity Award With respect to each Company fiscal year commencing during the Term, the Executive shall be eligible to receive an annual equity compensation award (each such award, an “Annual Equity Award”). The form and terms and conditions of each Annual Equity Award shall be determined by the Board (or the Compensation Committee of the Board) in its discretion and shall be set forth in one or more written award agreements between the Company and the Executive.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Lump Sum Payment NewMil Bancorp shall make a lump sum payment to the Executive in an amount in cash equal to one times the Executive’s annual compensation. For purposes of this Agreement, annual compensation means (a) the Executive’s annual base salary on the date of the Change in Control or the Executive’s termination of employment, whichever amount is greater, plus (b) any bonuses or incentive compensation earned for the calendar year immediately before the year in which the Change in Control occurred or immediately before the year in which termination of employment occurred, whichever amount is greater, regardless of when the bonus or incentive compensation is or was paid. NewMil Bancorp recognizes that the bonus and incentive compensation earned by the Executive for a particular year’s service might be paid in the year after the calendar year in which the bonus or incentive compensation is earned. The amount payable to the Executive hereunder shall not be reduced to account for the time value of money or discounted to present value. The payment required under this Section 2(a)(1) is payable no later than 5 business days after the date the Executive’s employment terminates. If the Executive terminates employment for Good Reason, the date of termination shall be the date specified by the Executive in his notice of termination.

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