Common use of Forfeiture of Right to Receive Annual Incentive Payment Clause in Contracts

Forfeiture of Right to Receive Annual Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments provided for in subsection 2(c) are being made by the City to the Company in consideration for the Company’s agreement to lease the Facility to relocate and expand an office and its associated operations and workforce, and to relocate existing and create new jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(v), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.

Forfeiture of Right to Receive Annual Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments provided for in subsection 2(c) are being made by the City to the Company in consideration for the Company’s agreement to lease the Facility to relocate retain and expand an office and its associated operations and workforce, and to relocate retain existing and create new jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(v), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.

Forfeiture of Right to Receive Annual Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments provided for in subsection 2(c2(b) are being made by the City to the Company in consideration for the Company’s agreement to lease the Facility and to relocate and expand an office locate its corporate headquarters and its associated operations and workforce, and to relocate existing locate and create new jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(v2(b)(v), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.

Forfeiture of Right to Receive Annual Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments provided for in subsection 2(c) are being made by the City to the Company in consideration for the Company’s agreement to lease or purchase the Facility to relocate and expand an the Company's office and its associated operations and workforce, and to relocate existing and create new jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(v), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.