Growth Incentive. Exclusive Suppliers only Exclusive Suppliers are eligible to receive a Growth Incentive if they satisfy the requirements set out in this section. Non- Exclusive Suppliers are not eligible to receive a Growth Incentive. If an Exclusive Supplier is entitled to a Growth Incentive and there is a Sharefarmer, we will pay you and the Sharefarmer the Growth Incentive in accordance with the Relevant Percentage. The Growth Incentive is calculated on any increase in either or both of the Milk Solids which are accepted by us in each Growth Incentive Period over and above the average of the relevant Milk Solids in such Milk supplied during the previous two Financial Years (Growth Incentive Baseline). If you are a new supplier to us, the Growth Incentive Baseline for the purpose of calculating the Growth Incentive in respect of the period from 1 July 2022 to 30 June 2023 is set out in Item 11 of the Details and, if you commence supplying Bega part way through a Financial Year, then the Growth Incentive will be calculated based on: • your Prior Deemed Milk Supply as set out in Item 12 of the Details; and • Milk Solids in Milk accepted by us during the applicable Growth Incentive Period, (Total Annual Milk). You will then be paid a pro- rata proportion of the Growth Incentive calculated on the proportion of the Total Annual Milk that was accepted by us during the applicable Growth Incentive Period. The rates for the Growth Incentive and an example of the way in which the Growth Incentive operates are set out in Item 10 of the Details. If you are an Existing Supplier, the Milk that you supply to us during July and August 2022 will count towards the calculation of the Growth Incentive under this Agreement. If there is more than one Farm listed in Item 1 of the Details, we will group all those Farms together for the purposes of calculating the Growth Incentive, unless there is a different Sharefarmer Supplier or Sharefarmer Suppliers associated with any of the Farms in which case the Growth Incentive will be calculated and paid on a per Farm basis. To determine whether you will receive a Growth Incentive, at the end of the Growth Incentive Period, you will be assessed against both the criteria for the New Milk Incentive and the criteria for the Growth Incentive. If you are an Existing Supplier, any New Milk Incentive you received in respect of July and August 2022 will be counted for the purposes of this assessment even though it was not paid under this Agreement. If you wo...
Growth Incentive. Seller agrees to offer Customer a growth rebate based on annual net purchases (excluding any returns, freight and handling charges of any kind) of Catalog products (specifically excluding any Non-Catalog Products or Third Party Products) by Contractor (Net Purchases) for each contract year of the term of this Agreement as compared with the Net Purchases for the previous contract year. Seller will measure Contractor’s Net Purchases for each contract year of the term of this Agreement and will compare the current year’s Net Purchases (Current Net Purchases) against the previous contract year’s Net Purchases (Previous Net Purchases). In the event that Contractor’s Current Net Purchases meet or exceed the Previous Net Purchases, Contractor will be entitled to a Growth Rebate calculated by multiplying the incremental Net Purchases (Current Net Purchases minus Previous Net Purchases) by five percent (5%). Notwithstanding the foregoing, regardless of the actual Current Net Purchases by Contractor in any year, in no event will the Previous Net Purchases ever be lower than the Net Purchases by Contractor in 2018 for purposes of calculating this incentive. The Contractor will not be entitled to a Growth Rebate in any calendar year in which the Current Net Purchases fail to exceed the Previous Net Purchases. Seller will make payment of any earned Growth Rebate to Contractor no later than forty-five (45) days following the end of each contract year.
Growth Incentive percent (6%) annual incremental gross revenue cap shall be used in calculating the Growth Incentive Payment. The Growth Incentive Payment shall be calculated as follows: For the year ending December 31, 1996 1996 Gross Revenue in Service Lanes 9-14 - 1995 Gross Revenue in Service Lanes 9-14 Difference (if positive) x 10% = Growth Incentive Payment For the year ending December 31, 1997 1997 Gross Revenue in Service Lanes 9-14 minus the lesser of (a) the 1996 Gross Revenue in Service Lanes 9-14 or (b) the 1995 Gross Revenue in Service Lanes 9-14 x 1.06 (which becomes the 1996 Base Revenue) Difference (if positive) x 10% = Growth Incentive Payment For the year ending December 31, 1998 1998 Gross Revenue in Service Lanes 9-14 minus the lesser of
Growth Incentive. Upon completion of the first year of business (first year will begin November 4, 2002 and will conclude at the end of 52 weeks. Payment will be made to Nathan's by December 15th after each year), USF will offer to pay to Nathan's corporate 1% of sales over the established base on an annual basis (exclusive of any acquisition of current USF customers; however, any acquisition will be included in that year's final numbers that will be treated as next year's base). *FIRST YEAR BASE - $56,000,000 (*TO BE VERIFIED) EXAMPLE: ACTUAL SALES $66,000,000 $56,000,000 LESS BASE $10,000,000 SALES OVER BASE $ 100,000 PAY OUT! The actual sales for the first year will serve as the base for the second year.
Growth Incentive
