Calculation of Payment. Subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed and the calculations included in each Application for payment as follows:
(a) Take that portion of the GMP properly allocable to completed Work as determined by multiplying the percentage of completion of each portion of the Work under the Schedule of Values by the share of the GMP allocated to that portion of the Work in the Schedule of Values. Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall be included;
(b) Add that portion of the GMP properly allocable to materials and equipment delivered and suitably stored and otherwise in compliance with Section E.2.3 of the OSU General Conditions;
(c) Add the CM/GC's Fee. The portion of the CM/GC's Fee payable shall be an amount that bears the same ratio to CM/GC Fee as sum of the amounts in the two preceding Clauses bears to the estimated probable Cost of the Work described in Article 6.1.2, but in no event causing total CM/GC Fee payments to exceed the total CM/GC Fee;
(d) Subtract the aggregate of previous payments made by and retained by the Owner;
(e) Subtract the shortfall, if any, indicated by the documentation required to substantiate prior applications for payment, or resulting from errors subsequently discovered by the Owner in such documentation;
(f) Subtract any amounts for which the Owner’s Authorized Representative has withheld or denied payment as provided in the Contract Documents; and
(g) Subtract 5% retainage on the entire progress payment.
Calculation of Payment. Any amounts to be paid under this Section shall be paid at the rate of one (1) hour pay for each hour of unused sick leave, at the E-step level of all ranks in accordance with the forty-eight (48) hour pay schedules established for the current year in Article 12.
Calculation of Payment. Part-time: Regular and Call-in part-time employees shall be paid holiday pay equal to the total amount of regular wages and vacation pay payable to the employee in the four work weeks before the work week in which the public holiday occurred, divided by twenty (20).
Calculation of Payment. The Employer shall calculate and pay the Bonus for each year within 30 days after the Company's receipt from its independent auditor of audited financial statements for each calendar year (the "Audit Release Date"), should any Bonus be due. The Employer shall provide to the Executive concurrently with the payment of the Bonus or, if the Employer determines that no Bonus is due in respect of a year during the term of this Agreement, then within 30 days following the Audit Release Date, a statement of its Chief Financial Officer regarding the calculation of the Bonus payable with respect to such year. Such statement shall provide such computations and set forth such detail as is reasonably necessary to substantiate the calculation of Pre-Tax Earnings and the amount of the Bonus payable with respect to such year. Notwithstanding any other provision of this Agreement, (i) the Executive's Bonus for the year ending December 31, 1997 shall not be less than $43,421 (the "1997 Minimum Bonus"), with the 1997 Minimum Bonus to be paid between December 15, 1997 and December 31, 1997 and any additional Bonus amounts due with respect to 1997 to be paid within 30 days following the Audit Release Date, and (ii) for any year in which the Expiration Date precedes the end of the year, the Bonus shall be payable solely with respect to the fiscal quarters that shall be completed on or before the 30th day after the Expiration Date, and solely for purposes of calculating the Bonus due with respect to such partial-year period, all references in this Section 4(b)(ii) to year end shall be deemed to be references to the last day of the last completed fiscal quarter.
Calculation of Payment. The calculation of the payments required hereunder shall be based on Annual Net Sales and Net Licensing Proceeds in U.S. Dollars. Annual Net Sales or Net Licensing Proceeds paid in any foreign currency shall be converted into and paid on the basis of an average rate of exchange, which shall be computed as the rate of exchange quoted under Foreign Exchange in The Wall Street Journal (U.S. West Coast edition) for the last business day of the calendar quarter to which such payment pertains. If at any time legal restrictions in a particular country prevent the prompt remittance of any amounts from such jurisdiction, Introgen may make such payments with respect to such jurisdiction by depositing the amount thereof in local currency in a bank account or other depository in such country in the name of Corixa, and Introgen shall have no further obligations under this Agreement with respect thereto. *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions
Calculation of Payment. For purposes of determining whether any of the Covered Payments will be subject to the Excise Tax and the amount of such Excise Tax,
(i) such Covered Payments will be treated as "parachute payments" within the meaning of Section 280G of the Code, and all "parachute payments" in excess of the "base amount" (as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless, and except to the extent that, in the good faith judgment of the Company's independent certified public accountants appointed prior to the Effective Date or tax counsel selected by such Accountants (the "Accountants"), the Company has a reasonable basis to conclude that such Covered Payments (in whole or in part) either do not constitute "parachute payments" or represent reasonable compensation for personal services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code) in excess of the "base amount," or such "parachute payments" are otherwise not subject to such Excise Tax, and
(ii) the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Accountants in accordance with the principles of Section 280G of the Code.
Calculation of Payment. For purposes of determining the amount of the Gross-Up Payment payable pursuant to a above, Consultant shall be deemed to pay (i) federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is made; and (ii) state and local income taxes at the highest marginal rate of taxation in the calendar year in which the Gross-Up Payment is made (but based on the rates of taxation of the states and localities with respect to which the Gross-Up Payment will be taxable), net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.
Calculation of Payment. 1. Longevity payments are made on the basis of past service.
2. Payments will not be prorated.
3. Unpaid leave time does not count toward longevity service credit.
4. An employee must work at least seventy-five (75%) percent of a fiscal year to qualify for payment of longevity benefits applicable to said fiscal year. Work time will include any paid leave time.
Calculation of Payment. Payment shall be for 7 hours 36 minutes per day with accrual as entitlement for a rostered day off being made on the basis of a nineteen day period where an employee works 152 hours within a work cycle not exceeding twenty-eight consecutive days at 24 minutes per day.
Calculation of Payment. Subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed as follows:
