Incentive Payment. 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%
Incentive Payment. (a) The College may offer and an employee may accept a one-time lump sum early retirement incentive based on the age at retirement to be paid as follows: % of Annual Salary Age at Effective Date of Retirement at Time of Retirement 55-59 100% 60 80% 61 60% 62 40% 63 20% 64 0%
Incentive Payment. Incentive payment, on account of Availability being more than the Target Availability shall be payable by the Long Term Transmission Customer(s), in line with Clause 1.2.2 of Schedule 5 of this Agreement and shall be paid on an annual basis. The annual incentive amount payable to the TSP shall be shared by the Long Term Transmission Customer(s) in the ratio of the Transmission Charges paid or actually payable to the TSP by them existing at the end of the relevant Contract Year.
Incentive Payment. 1. A bargaining unit employee who works all of his/her regularly scheduled work days during a full semester shall receive a $100 incentive payment for that semester to be paid in the first pay period of February for the first semester, or the first pay period of August for the second semester.
Incentive Payment. During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").
Incentive Payment. In addition to his Base Salary, the Executive shall be entitled to receive an incentive payment in respect of each calendar year during the Employment Term (an “Incentive Payment”) as such may be awarded pursuant to, and in accordance with, the terms of the Company’s Executive Incentive Plan, as then in effect. For purposes of this Agreement, a payment of one hundred eighty-two percent (182%) of the Base Salary, or such higher percentage as may be approved from time to time by the Board or the Compensation Committee in its discretion, is hereinafter referred to as the “Maximum Incentive Payment.”
Incentive Payment. Rural carrier eligibility for an incentive payment and three-year waiver will be in effect over the term of this Agreement. In order to receive the manufactured vehicle $1,000 incentive payment, the rural carrier must submit a copy of the vehicle sales receipt or a receipt for the re-engineering dated within the term of the 2006 Agreement, the vehicle identification number and post- master/manager certification. In order to receive the used right-hand drive or vehicle conversion $500 incentive payment, the rural carrier must submit a copy of the vehicle or conversion kit sales receipt dated within the term of the 2006 Agreement, the vehicle identification number and postmaster/manager certification that the carrier has purchased or converted a right-hand drive vehicle for use on the route. MOU #9 Any previously-owned manufactured or converted right-hand drive vehicle on which an incentive payment has been pre- viously paid will not qualify for a second $1,000 or $500 incentive payment. No rural carrier may receive an incentive payment more than once every three years. Incentive payment requests will be submitted based on instructions issued by appro- priate district personnel. _______________________ Xxxx X. Xxxxxx Xxxxxx Xxxxx Vice President President Labor Relations National Rural Letter U.S. Postal Service Carriers’ Association #9 MEMORANDUM OF UNDERSTANDING BETWEEN THE UNITED STATES POSTAL SERVICE AND THE NATIONAL RURAL LETTER CARRIERS’ ASSOCIATION Availability of USPS Surplus Vehicles The parties recognize the value of rural carriers operating right-hand drive vehicles on rural routes and the responsibility to provide for the safety of the rural carriers while in the performance of their duties. Therefore, the following represents the revised policy as it relates to the sale of surplus postal vehicles to rural carriers. Due to the increasing age of the 1/4 ton postal-owned jeeps, they will no longer be sold. When right-hand drive vehicles, other than 1/4 ton jeeps, become surplus, the Headquarters Office of Vehicle Maintenance will determine their disposition as operable vehi- cles, parts-only vehicles or scrap. Fifteen days prior to offering surplus right-hand drive vehicles for public sale, the local Manager, Vehicle Maintenance, will notify all local offices with rural delivery in the VMF service area, that rural carriers may purchase these vehicles exclusively for two (2) business days immediately preceding the start of a general sale. The rural c...
Incentive Payment. Provided that this Agreement has not been terminated by Owner "for cause" due to a default by Manager hereunder, and for so long as Manager does not unilaterally and without cause elect to not renew this Agreement as contemplated by Section 1.3 above, then Manager shall be entitled to receive from Owner an amount (the "Incentive Payment") equal to ten percent (10%) of the Net Cash Flow of the Project from the date hereof over the remaining life thereof to completion of development and sale and conveyance of all lots and other Project assets in the ordinary course of business (hereinafter referred to as the "Project Life"). "Net Cash Flow" shall mean the excess, if any, of (i) the Gross Cash Receipts of the Project over the Project Life, over (ii) the sum of (A) all cash expenses incurred during the Project Life for the Project, including, but not by way of limitation, the Reimbursements, taxes, interest, insurance premiums, utilities, supplies and fees, as contemplated by this Agreement and/or any approved Budget, (B) all amounts paid during such period on account of amortization of the principal of any debts and/or liabilities of the Project contemplated by this Agreement and/or by any approved Budget, and (C) all capital expenditures made during such period as contemplated by this Agreement and/or any approved Budget. The Incentive Payment shall accrue from and after the date hereof and shall continue to accrue throughout the Project Life. The Incentive Payment shall be due and payable after such time as the sum of (i) the Net Cash Flow of the Project (the "Fawn Lake Cash Flow"), (ii) the "Net Cash Flow" (the "Lake Forest Cash Flow") of the Lake Forest Subdivision project in Jefferson County, Kentucky (the "Lake Forest North Project") under and as defined in that certain Property Management Agreement of even date herewith (the "Lake Forest Management Agreement"), by and among Manager, the Fund and NTS/Lake Forest II Residential Corporation, a Kentucky corporation ("NTS/LFII"), and (iii) the Fund's interest in the "Net Cash Flow" of the Orlando Lake Forest Joint Venture, a Florida joint venture ("OLFJV"), under and as defined in that certain Amended and Restated Joint Venture Agreement of Orlando Lake Forest Joint Venture dated August 16, 1997 (the "Orlando Lake Forest Cash Flow"), would have been sufficient, if distributed to the Fund as the sole shareholder of Owner and NTS/LFII, and as a partner of OLFJV, together with all other funds generated by the ...
Incentive Payment. In the event of a Change in Control during the Executive’s employment with the Company, the Executive shall be entitled to receive an “Incentive Payment.” Subject to the terms hereof, such Incentive Payment will be made in a lump-sum cash payment sixty (60) days following the date of the Change in Control or as soon as administratively practicable thereafter but in no event later than 2 1/2 months after the close of the year in which the Change in Control occurs. The Incentive Payment shall equal the Executive’s short- or long-term target cash bonus Awards otherwise payable under the terms of any Incentive Plan based on full and immediate vesting of the Awards as of the date of the Change in Control, assuming for this purpose attainment of 100% of any applicable target.
