Incentive Tariffs Sample Clauses

Incentive Tariffs. The incentive tariff rates applicable to the Refined Product Pipelines shall initially be as set forth in Exhibits D, E and G. The incentive tariff rates will be adjusted each Contract Year as provided in Section 3(a)(ii). In consideration of ALON’s commitments set forth in Section 2, ALON shall be entitled to the incentive tariff rates for transportation of Refined Products on the Refined Product Pipelines pursuant to this Agreement. Notwithstanding the foregoing, ALON hereby waives any claim to the incentive 2 tariff rates until the aggregate revenues (not including any surcharges, charges or tariff increases pursuant to Section 3(d), Section 3(e) and Section 3(f), and any Monthly Capital Construction Amount pursuant to Section 14(a)(iv)) generated by the transportation and storage of Refined Products or Other Products on the Transferred Assets by ALON (including transportation and storage by ALON on behalf of third parties where ALON is the shipper of record) exceed the Incentive Amount in any Contract Year (such excess being the “Incentive Revenues”). At such time as ALON has satisfied the Incentive Revenues requirement, then ALON will be entitled to receive the incentive 2 tariff rates applicable during such Contract Year for volumes of Refined Products or Other Products transported by ALON (including transportation by ALON on behalf of third parties where ALON is the shipper of record) on each Refined Product Pipeline during such Pipelines and Terminals Agreement Contract Year in excess of the incentive volume requirement for such Refined Product Pipeline for such Contract Year (which Contract Year incentive volume requirement shall equal the per day incentive volume requirement as set forth in Exhibit A multiplied by the actual number of days in such Contract Year). Settlement of any amounts due to ALON with respect to incentive 2 tariff rates shall be calculated as soon as practicable following the end of each Contract Year and shall be set forth in the Activity Notice for the fourth Contract Quarter in such Calendar Year, with actual settlement made pursuant to Section 15(a)(vi). The Incentive Amount (without consideration of any previous adjustment pursuant to this Section 3(b) shall be adjusted on March 1 of each Contract Year commencing on or after January 1, 2006, by an amount equal to the percentage change, if any, in the PPI from the month of December 2004 to the month of December immediately preceding such Contract Year.
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Related to Incentive Tariffs

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Annual Incentive Award During the Term of Employment, the Executive shall be eligible for an annual incentive award with payout opportunities that are commensurate with his position and duties, as determined by the Compensation Committee in its discretion. Commencing with the Effective Date of the initial Term of Employment, the Executive’s target annual incentive award opportunity will be equal to fifty percent (50%) of the Executive’s Base Salary. The Executive’s annual incentive award opportunities shall be based on Company and individual performance goals determined, and subject to change, by the Compensation Committee in its discretion. The Executive shall be paid his annual incentive award no later than other senior executives of the Company are paid their annual incentive award.

  • Performance Measure The specific representation of a process or outcome that is relevant to the assessment of performance; it is quantifiable and can be documented

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Performance Measures The System Agency will monitor the Grantee’s performance of the requirements in Attachment A and compliance with the Contract’s terms and conditions.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Long-Term Incentive Programs The Executive shall be eligible to participate in the Company's long-term incentive compensation programs (including stock options and stock grants).

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