Cost Reduction Incentives Sample Clauses

Cost Reduction Incentives. 40.1 In consideration for continued competitiveness, both parties are required to put in reasonable time from engineering, operations and procurement resources to reduce the costs through collaborative effort by both parties.
Sample 1
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Cost Reduction Incentives. Seneca and GMOL agree that any savings from any cost reduction programs shall be allocated to the parties based upon Fully Allocated Costs. The SALT team will meet to review cost reduction initiatives on a quarterly basis.
Sample 1
Cost Reduction Incentives. Seneca and Pillsbury agree to share equally in any savings derived during the first year of the Cost Reduction Project from a Cost Reduction Project that is proposed by the Continuous Improvement Program Team and approved by the ARB or their designees. The Continuous Improvement Program Team will initially be headed by a Pillsbury employee and supported by Seneca employees to develop, implement and track specific Cost Reduction Projects. It is the intent of the Parties that Seneca will internalize the function of the Continuous Improvement Program Team when each party mutually agrees that the program is successfully implemented. The calculations of the cost savings will be determined in accordance with the Accounting Procedures and will be payable each year to each party at the Year-End Reconciliation as described in Section 3.6. After the first year of each cost Reduction Project, all savings derived from such Cost Reduction Project will accrue to Pillsbury or Seneca based upon the percentage of products respectively purchased from the Plant in question by Pillsbury or retained by Seneca for sale to non-Pillsbury buyers, and will be built into the Standard Costs. Attached hereto as Exhibit J-1 are the Guiding Principles under which the Continuous Improvement Project Team will account for Cost Reduction Projects.
Sample 1

Related to Cost Reduction Incentives

  • 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 In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • 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 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • 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.

  • 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.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

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