Common use of Fee Reductions Clause in Contracts

Fee Reductions. Each SLA identifies key performance measures that will be used to evaluate ACS’ delivery of the Services. The overriding goal in developing SLAs is to support Symetra’s desire to manage ACS by monitoring and measuring performance with respect to Symetra’s most-important business requirements. The Fee Reductions for ACS’ failure to achieve any SLA shall be equal to the product of: (i) the Annual At-Risk Amount, multiplied by (ii) the Weighting Factor (set forth in the attached Table 1) for the SLA that was missed. For example, given the following assumptions: (a) the Annual Services Fees are [***] Dollars ($[***]); (b) the total Annual At-Risk Amount therefore equals [***] Dollars ($[***]) ([***] percent ([***]%) of the Annual Services Fees); and (c) an SLA failure occurs with respect to an SLA having a [***] percent ([***]%) Weighting Factor, Fee Reductions would be calculated as follows: Fee Reduction $[***], which does not exceed the monthly Fee Reduction cap of [***] percent ([***]%) of the Annual At-Risk Amount (in this case, $[***]). If the Fee Reduction had been greater than $[***] (either individually or in the aggregate when considering all Fee Reductions for that month), such Fee Reductions would be capped at $[***]. Portions marked [***] have been omitted pursuant to a Confidential Treatment Request by Symetra Financial Corp., this information has been filed separately with the Securities and Exchange Commission. Table of Contents The earn-back rights described in Section 4 below would apply to the missed SLA.

Appears in 2 contracts

Samples: Information Technology Services Agreement (Symetra Financial CORP), Information Technology Services Agreement (Symetra Financial CORP)

AutoNDA by SimpleDocs

Fee Reductions. Each SLA Critical Milestone identifies a key performance measures project milestone that will be used to evaluate ACS’ delivery of the requested Services. The overriding goal in developing SLAs of identifying Critical Milestones is to support Symetra’s desire to manage ACS by monitoring and measuring actual performance with respect to against Symetra’s most-important business requirementsdeadlines. The Fee Reductions for ACS’ failure to timely achieve any SLA Critical Milestone shall be equal to the product of: (i) the Annual At-Risk Amount, multiplied by (ii) the Weighting Factor (set forth in the attached Table 12) for the SLA Critical Milestone that was missed. For example, given the following assumptions: (a) the Annual Services Fees are [***] Dollars ($[***]); (b) the total Annual At-Risk Amount therefore equals [***] Dollars ($[***]) ([***] percent ([***]%) of the Annual Services Fees); and (c) an SLA a Critical Milestone failure occurs with respect to an SLA a Critical Milestone having a [***] percent ([***]%) Weighting Factor, Fee Reductions would be calculated as follows: Fee Reduction $[***], which does not exceed the monthly Fee Reduction cap of [***] percent ([***]%) of the Annual At-Risk Amount (in this case, $[***]). If the Fee Reduction had been greater than $[***] (either individually or in the aggregate when considering all Fee Reductions for that month), such Fee Reductions would be capped at $[***]. There is no earn back option associated with Critical Milestones. Additional Corrective Assessments may apply. Portions marked [***] have been omitted pursuant to a Confidential Treatment Request by Symetra Financial Corp., this information has been filed separately with the Securities and Exchange Commission. Table of Contents The earn-back rights described in Section 4 below would apply to the missed SLA.Contents

Appears in 2 contracts

Samples: Information Technology Services Agreement (Symetra Financial CORP), Information Technology Services Agreement (Symetra Financial CORP)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!