City Incentive Payment Schedule Sample Clauses

City Incentive Payment Schedule. The Company’s entitlement to each payment from the City under this Agreement is conditioned upon the Company sending an invoice to the City for each payment requested that documents Capital Investment and Qualified Jobs pursuant to this Agreement. By complying with the requirements of Section 2 above and all other applicable provisions of this Agreement, the Company shall be eligible to receive the City Incentive Payments according to the following schedule: INCENTIVE PAYMENT YEAR CITY INCENTIVE PAYMENT AMOUNT PAYMENT CONDITION EARLIEST TIMING OF PAYMENT YEAR 1 $80,000.00 Completion of minimum Capital Investment pursuant to Section 2(a). Within 60 days after January 1 of the year of completion of payment condition for Year 1. YEAR 2 $80,000.00 Creation of at least 10 Qualified Jobs from the Capital Investment Completion Date pursuant to Section 2(b). Within 60 days after completion of payment condition for Year 2 but not earlier than the 1-year anniversary for City Incentive Payment for Year 1. YEAR 3 $80,000.00 Creation of at least 20* Qualified Jobs since the Capital Investment Completion Date. Within 60 days after completion of payment condition for Year 3 but not earlier than the 1-year anniversary for City Incentive Payment for Year 2. YEAR 4 $80,000.00 Creation of at least 30* Qualified Jobs since the Capital Investment Completion Date. Within 60 days after completion of payment condition for Year 4 but not earlier than the 1-year anniversary for City Incentive Payment for Year 3. YEAR 5 $80,000.00 Creation of at least 50* Qualified Jobs since the Capital Investment Completion Date. Within 60 days after completion of payment condition for Year 5 but not earlier than the 1-year anniversary for City Incentive Payment for Year 4. * The specified number of Qualified Jobs includes all Qualified Jobs created in prior years. For example, if in Year 1, Company creates 15 Qualified Jobs and in Year 2 Company creates 7 new Qualified Jobs, it has created 22 Qualified Jobs since the Capital Investment Date, which is more than 20 Qualified Jobs.
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City Incentive Payment Schedule. The Company’s entitlement to payment from the City under this Agreement is conditioned upon the Company sending an invoice to the City, which documents the completion of Capital Investment and creation of Qualified Jobs pursuant to this Agreement. By complying with the requirements of Section 2 and all other applicable provisions of this Agreement, the Company shall be eligible to receive the City Incentive Payments according to the following payment schedule: INCENTIVE PAYMENT YEAR CITY INCENTIVE PAYMENT AMOUNT PAYMENT CONDITIONS EARLIEST TIMING OF PAYMENT YEAR 1 $64,500.00 Completion of minimum Capital Investment of $4,300,000.00 pursuant to Section 2(a) and creation and cumulative retention of at least 150 Qualified Jobs. January 1st after the first calendar year that begins after Company has complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2016, the Year 1 City Incentive Payment would be made after January 1, 2018 (which is the first January after the 1st anniversary date of the completion of the Year 1 Payment Conditions).
Sample 1Sample 2
City Incentive Payment Schedule. The Company’s entitlement to payment from the City under this Agreement is conditioned upon the Company sending an invoice to the City, which documents the completion of Capital Investment and creation of Qualified Jobs pursuant to this Agreement. By complying with the requirements of Section 2 and all other applicable provisions of this Agreement, the Company shall be eligible to receive the City Incentive Payments according to the following payment schedule: INCENTIVE PAYMENT YEAR CITY INCENTIVE PAYMENT AMOUNT PAYMENT CONDITIONS** TIMING OF PAYMENT YEAR 1 $200,000.00 Completion of minimum Capital Investment of $31,700,000.00 pursuant to Section 2(a) and creation and cumulative retention of at least 200 Qualified Jobs. The first business day following January 1st after the first anniversary date that Company complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2017, the Year 1 City Incentive Payment would be made on January 2, 2019 (which is the first business day after January 1 after the 1st anniversary date of the completion of the Year 1 Payment Conditions). ** No later than January 19, 2020, in addition to completion of the minimum Capital Investment, the Company must have achieved the creation and cumulative retention of at least 200 Qualified Jobs.
Sample 1
City Incentive Payment Schedule. The Company’s entitlement to payment from the City under this Agreement is conditioned upon the Company sending an invoice to the City, which documents the completion of Capital Investment and creation of Qualified Jobs pursuant to this Agreement. By complying with the requirements of Section 2 and all other applicable provisions of this Agreement, the Company shall be eligible to receive the City Incentive Payments according to the following payment schedule: INCENTIVE PAYMENT YEAR CITY INCENTIVE PAYMENT AMOUNT PAYMENT CONDITIONS** EARLIEST TIMING OF PAYMENT YEAR 1 $200,000.00 Completion of minimum Capital Investment of $31,700,000.00 pursuant to Section 2(a) and creation and cumulative retention of at least 200 Qualified Jobs. The first business day following January 1st after the first anniversary date that Company complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2017, the Year 1 City Incentive Payment would be made within 60 days after receipt of the invoice with appropriate documentation, but no sooner than January 2, 2019 (which is the first business day after January 1 after the 1st anniversary date of the completion of the Year 1 Payment Conditions). ** No later than three (3) years after the Effective Date, in addition to completion of the minimum Capital Investment, the Company must have achieved the creation and cumulative retention of at least 200 Qualified Jobs.
Sample 1

Related to City Incentive Payment Schedule

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Payment Schedule The purchase price for timber sold under this contract shall be paid in advance as follows: The first payment shall be paid within 30 days of the notification of high bid or before operating, whichever occurs first. The first payment shall be 10 percent of the total estimated bid value. The total estimated bid value shall be the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. Cash bid deposits shall be applied to the initial payment. Subsequent payments shall be made in advance of timber removal when log hauling begins. Each payment shall be made before the value of timber removed equals one-half an advance payment or within the time period stated on the billing if PURCHASER is more than one-half of a payment in advance. The amount of each advance payment shall be calculated by dividing the total estimated bid value less the initial payment by 9; with the total estimated bid value being the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. STATE may accept partial payment, upon written request, if logging is inactive. However, the full amount of advance payment is paid before logging resumes. Partial payment must be sufficient to maintain a payment deposit equal to one-half of a regular advance payment. The total purchase price shall be calculated after all log scale is reported by multiplying prices in Section 44 by the scaled volume. STATE shall refund any advance payment in excess of the total price, or PURCHASER shall pay any deficit within 30 days of notice. PURCHASER's deposit account shall not accrue interest payable to PURCHASER.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Additional Bonus Executive shall be eligible for such year-end bonus, which may be paid in either cash or equity, or both, as is awarded at the discretion of the Compensation Committee of the Board of Directors of the Company after consultation with the Company's Chief Executive Officer.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • 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.

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