COST REDUCTION INCENTIVE Sample Clauses

COST REDUCTION INCENTIVE. A. Contractor may submit to the County written proposals for modifying the plans, specifications, or other requirements of this Contract for the sole purpose of reducing the total cost of construction. The cost reduction proposal shall not impair, in any manner, the essential functions or characteristics of the Project, including, but not limited to Task life, economy of operation, ease of maintenance, desired appearance, or design and safety standards. B. Cost reduction proposals shall contain the following information: (1) A description of both the existing Contract requirements for performing the work and the proposed changes; (2) An itemization of the Contract requirements that must be changed if the proposal is adopted; (3) A detailed estimate of the cost of performing the work under the existing Contract and under the proposed change; (4) A prediction of the effects the proposed change would, if adopted, have on other costs to the, County, such as County furnished property costs, costs of future construction, and costs of maintenance and operation; and (5) A statement of the time by which a Change Order adopting the proposal must be issued in order to obtain the maximum cost reduction. C. The provisions of this Article shall not be construed to require the County to consider any cost reduction proposal which may be submitted hereunder; the County will not be liable to the Contractor for failure to accept or act upon any cost reduction proposal submitted pursuant to this Article; and the County will not be liable to the Contractor for any delays to the work attributable to any such proposal. If a cost reduction proposal is similar to a change in the plans or specifications which change is under consideration by OC Public Works or by the County for the Project at the time said proposal is submitted, or if such a proposal is based upon or similar to standard specifications, standard special provisions or standard plans adopted by the County after the advertisement for the Contract, the County will not accept such proposal and the County reserves the right to make such changes without compensation to the Contractor under the provisions of this Article
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COST REDUCTION INCENTIVE. The Contractor may submit to the District, in writing, proposals for modifying the Project Drawings, Technical Specifications, or other requirements of the Contract for the sole purpose of reducing the total cost of construction. The cost-reduction proposal shall not impair in any manner the essential functions or characteristics of the Project, including but not limited to service life, economy of operation, ease of maintenance, desired appearance, or design and safety standards. Cost-reduction proposals shall contain the following information: 1. A description of both the existing Contract requirements for performing the work and the proposed changes. 2. An itemization of the Contract requirements that must be changed if the proposal is adopted. 3. A detailed estimate of the cost of performing the work under the existing Contract and under the proposed change. The estimates of cost shall be priced in the same manner as if the work were to be paid for as an extra work payment, as provided in Section GC-30, Extra Work Payment. 4. A statement of the time within which the District must make a decision thereon. 5. The Contract items of work affected by the proposed changes, including any quantity variation attributable thereto. The provisions of this Section shall not be construed to require the District to consider any cost- reduction proposal that may be submitted hereunder. The District will not be liable to the Contractor for failure to accept or act upon any cost-reduction proposal submitted pursuant to this Section nor for any delays to the work attributable to any such proposal. If a cost-reduction proposal is similar to a change in the Project Drawings or Technical Specifications under consideration by the District for the Project at the time said proposal is submitted, or if such a proposal is based upon or similar to standard specifications, standard special provisions, or standard plans adopted by the District after the advertisement for the Contract, the District will not accept such proposal, and the District reserves the right to make such changes without compensation to the Contractor under the provisions of this Section. The Contractor shall continue to perform the work in accordance with the requirements of the Contract until an executed Change Order incorporating the cost-reduction proposal has been issued. If an executed Change Order has not been issued by the date upon which the Contractor’s cost-reduction proposal specifies that a decisio...
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COST REDUCTION INCENTIVE. As authorized by Public Contract Code Section 7101, CM may submit to County written proposals for modifying the Plans, Special Provisions, or other requirements of the Contract Documents for the sole purpose of reducing the total cost of construction. The cost reduction proposal shall not impair in any manner the essential functions or characteristics of the Project, including, but not limited to, service life, economy of operation, ease of maintenance, desired appearance, or design and safety standards.
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COST REDUCTION INCENTIVE. CGI may present to Kanawha a written proposal for the implementation of a new or different process, system, or technology that is not within the Services and would reasonably be expected to result in cost savings for Kanawha (net of the cost of implementing such proposal) in carrying out certain business functions. If Kanawha decides to proceed with the proposal, then the parties shall negotiate in good faith the terms and conditions under which the proposal shall be implemented. The parties shall agree on the procedures to be followed to measure the net cost savings that are directly attributable to the process, system or technology proposed by CGI. The parties shall share equally the actual net cost savings realized over the first year of the benefit period. Any savings beyond the first year of the benefit period following implementation of the changes shall belong to Kanawha. This Section 6.6 does not apply where Kanawha has itself identified the new or different process, system, or technology that is not within the Services and such process, system or technology would reasonably be expected to result in cost savings for Kanawha (net of the cost of implementing such proposal) in carrying out certain business functions. The parties agree that in this latter case Kanawha would be entitled to all net cost savings.
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Related to COST REDUCTION INCENTIVE

  • 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 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.

  • 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.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Increased Costs and Reduction of Return (a) If any Lender determines that due to either (i) the introduction of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation of any Requirement of Law or (ii) the compliance by that Lender with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any LIBOR Rate Loans, then the Borrowers shall be liable for, and shall from time to time, upon demand (with a copy of such demand to be sent to the Agent), pay to the Agent for the account of such Lender, additional amounts as are sufficient to compensate such Lender for such increased costs. (b) If any Lender shall have determined that (i) the introduction of any Capital Adequacy Regulation, (ii) any change in any Capital Adequacy Regulation, (iii) any change in the interpretation or administration of any Capital Adequacy Regulation by any central bank or other Governmental Authority charged with the interpretation or administration thereof, or (iv) compliance by such Lender or any corporation or other entity controlling such Lender with any Capital Adequacy Regulation, affects or would affect the amount of capital required or expected to be maintained by such Lender or any corporation or other entity controlling such Lender and (taking into consideration such Lender’s or such corporation’s or other entity’s policies with respect to capital adequacy and such Lender’s desired return on capital) determines that the amount of such capital is increased as a consequence of its Revolving Credit Commitments, Loans, credits or obligations under this Agreement, then, upon demand of such Lender to the Borrowers through the Agent, the Borrowers shall pay to such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender for such increase.

  • 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.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Maximum Total Compensation Subsection 10.1 is amended to Increase Decrease the Maximum Total Compensation from $ to $ .

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.