Calculation of Incentive Management Compensation Sample Clauses

Calculation of Incentive Management Compensation. In addition to the Base Management Compensation, the Advisor shall receive incentive management compensation for each fiscal quarter (the "Incentive Management Compensation"). 6.2.1 The Incentive Management Compensation shall be calculated by the Advisor and paid or refunded (as applicable) as follows: (1) At the end of each of the first three fiscal quarters during each fiscal year, the Advisor shall calculate the Tiered Percentage of the difference of (i) the Net Income for such quarter (or lesser portion thereof), minus (ii) the Threshold Return for such quarter (or lesser portion thereof) (the "Quarterly Incentive Amount"). If the Quarterly Incentive Amount is a positive number, then at the end of each such quarter the Company shall pay the Advisor the Quarterly Incentive Amount. (2) At the end of each fiscal year and upon any termination of this Agreement, the Advisor shall calculate the Tiered Percentage of the difference of (i) the Net Income for such year (or lesser portion thereof), minus (ii) the Threshold Return for such year (or lesser portion thereof) (the "Annual Incentive Amount"). If the aggregate of the Quarterly Incentive Amounts received by the Advisor for such year (but not taking into account any prior years) is less than the Annual Incentive Amount, then the Company shall pay the Advisor such shortfall (the "Remaining Amount"). On the other hand, if the aggregate of the Quarterly Incentive Amounts received by the Advisor during such year (but not taking into account any prior years) exceeds the Annual Incentive Amount, then the Advisor shall pay the Company such excess (the "Advisor Refund"). The Advisor Refund for any particular year shall not exceed the aggregate of the Quarterly Incentive Amounts received by the Advisor during such year.
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Calculation of Incentive Management Compensation. In addition to the Base Management Compensation, the Company shall pay to the Manager annually in arrears incentive management compensation for each fiscal year (the “Incentive Management Compensation”) during the term of this Agreement (which fiscal years for the purposes of this Section 6.2 shall be comprised of twelve-month periods commencing on each successive January 1 during the term of this Agreement, with the first such fiscal year ending on December 31, 2005 and for the avoidance of doubt, Incentive Management Compensation in respect of the period from January 1, 2005 through February 28, 2005 shall be paid in accordance with the terms of this Section 6.2 and not in accordance with the terms of the Prior Agreement). 6.2.1 The Incentive Management Compensation shall be calculated by the Manager and paid as follows: (1) At the end of each fiscal year after the Effective Date and upon any termination of this Agreement, the Manager shall calculate the Return on Assets for such fiscal year (or lesser portion thereof). (2) If the Return on Assets for any such fiscal year (or lesser portion thereof) exceeds the Threshold Return for such fiscal year (or lesser portion thereof), the Company shall pay to the Manager incentive management compensation at a rate per annum equal to thirty-five hundredths of one percent (0.35%) of the first $750 million of Applicable Average Net Worth during such fiscal year (or lesser portion thereof) plus, if applicable, two tenths of one percent (0.20%) of the next $750 million of Applicable Average Net Worth during such fiscal year (or lesser portion thereof) plus, if applicable, fifteen hundredths of one percent (0.15%) of any Applicable Average Net Worth in excess of $1.5 billion during such fiscal year (or lesser portion thereof). In the event of any termination of this Agreement during a fiscal year, the Incentive Management Compensation in respect of such fiscal year shall be calculated and paid through the effective date of such termination (based upon the number of days elapsed in such fiscal prior to the effective date of such termination, and the Return on Assets compared to the Threshold Return for such period through the effective date of such termination).
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Related to Calculation of Incentive Management Compensation

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125.00 per hour.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • Fixed Compensation Each of the Co-Managers will receive certain additional fixed compensation pursuant to separate agreements with Masterworks, which is not tied specifically to this Offering or to any other specific offering, but a portion of which is deemed to be underwriting compensation for this Offering. Such additional fixed compensation relates to (i) a monthly retainer for administrative support services and (ii) fixed compensation payments to representatives of Arete. $8,224 is a reasonable estimate of costs and expenses referenced in clauses (i) and (ii) above that are appropriately allocated to this Offering.

  • Financial Services Compensation Scheme We are a participant in the Financial Services Compensation Scheme (the “FSCS”). As a retail client you may be eligible to claim compensation from the FSCS in certain circumstances if we, any approved bank, our nominee company or eligible custodian are in default. Most types of investment business are covered in full for the first £85,000 of any eligible claim. Not every investor is eligible to claim under this scheme: for further information please contact us, or the FSCS directly at xxx.xxxx.xxx.xx.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

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