Common use of General Compensation Clause in Contracts

General Compensation. Grantee agrees to pay the City as General Compensation during each Compensation Year for the use of the Public Ways throughout the duration of this Agreement (subject to the City’s rights of adjustment set forth in Section 2.3 and Section 7.12 hereof) a sum equal to the General Compensation as set forth below: The General Compensation during the Compensation Year ending December 31, 1995 shall be the greater of $50,000 or two percent (2%) of Grantee’s Total Gross Billings. The General Compensation during the Compensation Year ending December 31, 1996 shall be the greater of $140,000 or two percent (2%) of Grantee’s Total Gross Billings. The General Compensation during the Compensation Year ending December 31, 1997 shall be the greater of $320,000 or two percent (2%) of Grantee’s Total Gross Billings. For the 1998 Compensation Year, the General Compensation fees shall be the greater of $320,000 or 2% of Total Gross Billings. For the 1999 Compensation Year, the General Compensation shall be the greater of $456,000 (including an increase in the minimum monthly fixed fee from $33,833.33 to $40,000.00 commencing on May 1, 1999) or two percent (2%) of Total Gross Billings (including for 1999 and all future Compensation Years amounts generated by the Fourth Plant). For the 2000 Compensation Year, the General Compensation shall be the greater of $480,000 or two percent (2%) of Total Gross Billings. For each Compensation Year beginning with the 2001 Compensation Year, the General Compensation fee shall be two percent (2%) of Total Gross Billings; but in no case shall the General Compensation for any Compensation Year beginning with 2001 be less than $480,000. Each rate of compensation in the Compensation Years beginning with 2001 shall be adjusted for the rate of inflation during the preceding Compensation Year pursuant to the Consumer Price Index for Urban Affairs. All rates of compensation set forth in this paragraph are subject to the City’s right of adjustment set forth in Section 2.3 and Section 7.12 hereof, as applicable.”

General Compensation. Grantee agrees to pay the City as General Compensation during each Compensation Year for the use of the Public Ways throughout the duration of this Agreement (subject to the City’s rights of adjustment set forth in Section 2.3 and Section 7.12 hereof) a sum equal to the General Compensation as set forth below: . The General Compensation during the Compensation Year ending December 31, 1995 shall be the greater of $50,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1996 shall be the greater of $140,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1997 shall be the greater of $320,000 or two percent (2%) % of Grantee’s Total Gross BillingsBxxxxxxx (including for 1997 and all future Compensation Years amounts generated by the Third Plant). For the 1998 Compensation YearYear (subject to adjustments made pursuant to Section 7.1.2), the General Compensation fees shall be the greater of $320,000 320,000, or 2% of Total Gross Billings. For the 1999 Compensation Year, the General Compensation shall be the greater of $456,000 Bxxxxxxx (including an increase in the minimum monthly fixed fee from $33,833.33 subject to $40,000.00 commencing on May 1, 1999) or two percent (2%) of Total Gross Billings (including for 1999 and all future Compensation Years amounts generated by the Fourth Plantadjustments made pursuant to Section 7.1.2). For the 2000 Compensation Year, the General Compensation shall be the greater of $480,000 or two percent (2%) of Total Gross Billings. For each Compensation Year beginning with the 2001 1999 Compensation Year, Year the General Compensation fee shall be two percent (2%) of Total Gross BillingsBxxxxxxx; but in no case shall the General Compensation for any Compensation Year beginning with 2001 1999 be less than $480,000. Each rate of compensation in the Compensation Years beginning with 2001 shall be 320,000 (subject to adjustment pursuant to Section 7.1.2 hereof), adjusted for the rate of inflation during the preceding Compensation Year pursuant to the Consumer Price Index for Urban Affairs. All rates of compensation set forth in this paragraph are subject to the City’s right of adjustment set forth in Section 2.3 and Section 7.12 hereof, as applicable.”

General Compensation. (A) Grantee agrees to pay the City as General Compensation during each Compensation Year for the use of the Public Ways throughout the duration of this Agreement (subject to the City’s rights of adjustment set forth in Section 2.3 and Section 7.12 hereof) a sum equal to the General Compensation as set forth below: . The General Compensation during the Compensation Year ending December 31, 1995 shall be the greater of $50,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1996 shall be the greater of $140,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1997 shall be the greater of $320,000 or two percent (2%) % of Grantee’s Total Gross BillingsBxxxxxxx (including for 1997 and all future Compensation Years amounts generated by the Third Plant). For the 1998 Compensation YearYear (subject to adjustments made pursuant to Section 7.1.2), the General Compensation fees shall be the greater of $320,000 320,000, or 2% of Total Gross Billings. For the 1999 Compensation Year, the General Compensation shall be the greater of $456,000 Bxxxxxxx (including an increase in the minimum monthly fixed fee from $33,833.33 subject to $40,000.00 commencing on May 1, 1999) or two percent (2%) of Total Gross Billings (including for 1999 and all future Compensation Years amounts generated by the Fourth Plantadjustments made pursuant to Section 7.1.2). For the 2000 Compensation Year, the General Compensation shall be the greater of $480,000 or two percent (2%) of Total Gross Billings. For each Compensation Year beginning with the 2001 1999 Compensation Year, Year the General Compensation fee shall be two percent (2%) of Total Gross BillingsBxxxxxxx; but in no case shall the General Compensation for any Compensation Year beginning with 2001 1999 be less than $480,000. Each rate of compensation in the Compensation Years beginning with 2001 shall be 320,000 (subject to adjustment pursuant to Section 7.1.2 hereof), adjusted for the rate of inflation during the preceding Compensation Year pursuant to the Consumer Price Index for Urban Affairs. All rates of compensation set forth in this paragraph are subject to the City’s right of adjustment set forth in Section 2.3 and Section 7.12 hereof, as applicable.” (B) In addition to clause (A), Grantee shall pay a surcharge for use of the portion of the LaSalle Street Trolley Tunnel authorized by the City to be used for Additional Distribution Facilities sufficient for cost recovery by the City of pro rata costs of inspecting, maintaining, improving and operating the LaSalle Street Tunnel, such surcharge to be determined in a nondiscriminatory and reasonable fashion among similar users by the Commissioner of the Department of Transportation and the Commissioner of the Department of the Environment. Such surcharge rate or rates shall be published by said departments on an annual basis and provided to Grantee and other users of the LaSalle Street Trolley Tunnel on an annual basis. It is estimated that the initial surcharge for Grantee for use of the LaSalle Street Tunnel for its Additional Distribution Facilities as set forth herein in 1997 shall be $30,000 and shall be paid prior to the issuance of any permits for work in the LaSalle Street Trolley Tunnel. In subsequent years, such surcharge shall be paid within thirty (30) days after notice of the amount thereof has been furnished to Grantee by the City; provided that in the absence of any such notice by January 30 of any Compensation Year, Grantee shall pay the amount equal to that paid for the preceding Compensation Year on or before February 15 of such Compensation Year, subject to retroactive adjustment based on actual notice of such surcharge amount for such Compensation Year.

General Compensation. Grantee agrees to pay the City as General Compensation during each Compensation Year for the use of the Public Ways throughout the duration of this Agreement (subject to the City’s rights of adjustment set forth in Section 2.3 and Section 7.12 hereof) a sum equal to the General Compensation as set forth below: . The General Compensation during the Compensation Year ending December 31, 1995 shall be the greater of $50,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1996 shall be the greater of $140,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1997 shall be the greater of $320,000 190,000 or two percent (2%) of Grantee’s Total Gross Billings. For the 1998 Compensation Year, the General Compensation fees shall be the greater of $320,000 or 2% of Total Gross Billings. For the 1999 Compensation Year, the General Compensation shall be the greater of $456,000 (including an increase in the minimum monthly fixed fee from $33,833.33 to $40,000.00 commencing on May 1, 1999) or two percent (2%) of Total Gross Billings (including for 1999 and all future Compensation Years amounts generated by the Fourth Plant). For the 2000 Compensation Year, the General Compensation shall be the greater of $480,000 or two percent (2%) of Total Gross BillingsBxxxxxxx. For each Compensation Year beginning with the 2001 1998 Compensation YearYear (subject to the City’s rights of adjustment set forth in Section 2.3 hereof and to adjustments made pursuant to Section 7.1.2), the General Compensation fee fees shall be two percent (2%) of Total Gross BillingsBxxxxxxx; but in no case shall the General Compensation for any Compensation Year beginning with 2001 1998 be less than $480,000. Each rate of compensation in the Compensation Years beginning with 2001 shall be 190,000 (subject to adjustment pursuant to Section 7.1.2), adjusted for the rate of inflation during the preceding Compensation Year pursuant to the Consumer Price Index for Urban Affairs. All rates of compensation set forth in this paragraph are subject to the City’s right of adjustment set forth in Section 2.3 and Section 7.12 hereof, as applicableAreas.”

General Compensation. Grantee agrees to pay the City as General Compensation during each Compensation Year for the use of the Public Ways throughout the duration of this Agreement (subject to the City’s rights of adjustment set forth in Section 2.3 and Section 7.12 hereof) a sum equal to the General Compensation as set forth below: . The General Compensation during the Compensation Year ending December 31, 1995 shall be the greater of $50,000 or two percent (2%) of Grantee’s Total Gross BillingsBxxxxxxx. The General Compensation during the Compensation Year ending December 31, 1996 shall be the greater of $140,000 70,000 or two percent (2%) of Grantee’s Total Gross Billings. The General Compensation during the Compensation Year ending December 31, 1997 shall be the greater of $320,000 or two percent (2%) of Grantee’s Total Gross Billings. For the 1998 Compensation Year, the General Compensation fees shall be the greater of $320,000 or 2% of Total Gross Billings. For the 1999 Compensation Year, the General Compensation shall be the greater of $456,000 (including an increase in the minimum monthly fixed fee from $33,833.33 to $40,000.00 commencing on May 1, 1999) or two percent (2%) of Total Gross Billings (including for 1999 and all future Compensation Years amounts generated by the Fourth Plant). For the 2000 Compensation Year, the General Compensation shall be the greater of $480,000 or two percent (2%) of Total Gross BillingsBxxxxxxx. For each Compensation Year beginning with in the 2001 1997 Compensation Year, Year (subject to the City’s rights of adjustment set forth in Section 2.3 hereof and to adjustments made pursuant to Section 7.1.2); the General Compensation fee fees shall be two percent (2%) of Total Gross BillingsBxxxxxxx; but in no case shall the General Compensation for any Compensation Year beginning with 2001 in 1997 be less than $480,000. Each rate of compensation in the Compensation Years beginning with 2001 shall be 70,000 (subject to adjustment pursuant to Section 7.1.2), adjusted for the rate of inflation during the preceding Compensation Year pursuant to the Consumer Price Index for Urban AffairsAreas. 5.1.1 Calculation and Payment on a Monthly Basis. All rates of compensation set forth in this paragraph are subject Grantee shall pay to the City’s right Director of adjustment set forth the Department of Revenue for each month during a Compensation Year an amount equal to the greater of: (a) a percentage of applicable minimum fixed fee described in Section 2.3 and Section 7.12 hereof5.1, calculated on the basis of the amount of such minimum fee divided by the number of months in such Compensation Year; or (b) the estimated Annual Gross Bxxxxxxx Based Fee for such month. The greater of (a) or (b) above shall be referred to as applicablethe “Monthly Payment”. Grantee shall forward by check or money order an amount equal to the Monthly Payment by the fifteenth day of the calendar month immediately following the month for which such Monthly Payment is due. Any necessary prorations shall be made.”