Incentive Contracts Sample Clauses

Incentive Contracts. Additionally, FAR section 16.503 Requirements Contracts; FAR section 16.601 Time-and-materials and FAR 16.602 Labor-hour Contracts are permitted Task Order contract types. However, FAR 16.503 Requirements Contracts should be limited to not exceed the ordering period of the Master Contract. Task Orders may also incorporate FAR 17.1 Multiyear Contracting and FAR 17.2 Option periods procuring Commercial-items or Non-commercial items. These contract types can be used singly or in combination within a single Task Order comprising multiple Contract Line Items (CLINS).
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Incentive Contracts. Compensation is based on the contracting performance according an agreed target - budget, schedule and/or quality. The two basic categories of incentive contracts are • Fixed Price Incentive Contracts • Cost Reimbursement Incentive Contracts Fixed Price Incentive Contracts are preferred when contract costs and performance requirements are reasonably certain. Cost Reimbursement Contract provides the initially negotiated fee to be adjusted later by a formula based on the relationship of total allowable costs to total target costs. This type of contract specifies a target cost, a target fee, minimum and maximum fees, and a fee adjustment formula. After project performance, the fee payable to the contractor is determined in accordance with the formula.
Sample 1
Incentive Contracts. FAR 16.601 Time-and-materials; and FAR 16.602 Labor-hour Contracts. Task orders may also incorporate FAR 17.1 Multi-year Contracting and FAR 17.2 Option periods procuring Commercial-items or Non-commercial items. These contract types can be used singly or in combination within a single Task Order comprising multiple Contract Line Items (CLINS).
Sample 1
Incentive Contracts. 1216.406–70 DOT contract clauses.
Sample 1

Related to Incentive Contracts

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 40 percent of his Base Salary (the “Target Annual Incentive Compensation”). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

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