Job Creation Incentive Sample Clauses

Job Creation Incentive. In recognition of the Company’s job creation, the CRA will provide a job creation incentive payment, as long as funds are available, of up to $2,000 per job to be paid by the CRA to the Company annually, in arrears, for a period not to exceed three (3) years. The Company will be required to maintain these jobs for an additional ten (10) year period from the creation of the last incented job. The job creation incentive is contingent upon the Company having an established minimum number of employees by the end of Year 1 at a Downtown Orlando location within the CRA and retaining a minimum number of employees at the Downtown Orlando location through Year 13. To qualify for the Program’s Job Creation Incentive, the average annual wage must meet one of the following percentages: Annual Average Wage (AAW) Per job incentive value of up to 115% of the Orange County or State of Florida AAW $750 150% of the Orange County or State of Florida AAW $1,500 200% of the Orange County or State of Florida AAW $2,000
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Job Creation Incentive. Xxxxx has committed to hire and employ individuals for at least forty (40) full-time positions within the Qualification Period as set forth below. However, the parties each acknowledge that in the Buyer’s particular industry, and in the Buyer’s experience there is regularly a large percentage of turn-over with respect to employees. Therefore, the creation of jobs shall be construed hereunder as the creation of positions rather than being based on the employment of particular individuals. For example, a “position” such as the morning shift cashier may be filled over a six month period by two or three different individuals based on turn-over, but so long as said position is filled continually then the position shall qualify as a “job” for all purposes hereunder. Since construction of improvements might take up a significant portion of the Qualification Period, the Buyer shall be given the entire Qualification period to create the required positions. The definition of job shall also include the following definitions: • Job shall be physically located at the site of the project at 000 Xxxxx Xxxxxx Drive within the Virgin Valley (e.g. Corporate Offices, Administrative or Clerical Work). • Job shall be full-time and scheduled to work for an average minimum of 30 hours per week. • Job shall be for at least six (6) consecutive months. • An employee who is engaged solely in the construction of the anticipated improvements shall not have that position count as a required job. • The usage of full-time equivalents shall not be allowed in the calculation of jobs. 3.5.1 Jobs or positions which qualify to be included in the calculation of jobs created for the purposes of the Job Creation Incentive (the “JCI”) include all permanent jobs or positions which have been filled by an individual or individuals for not less than six months. 3.5.2 In order for Buyer to qualify for the Jobs Creation Incentive, Buyer must meet the minimum thresholds set forth in the table below. Discounts to the Purchase Price are provided in 10% increments under the Job Creation Incentive and no partial discounts. Number of Jobs Discount Percentage Amount of Purchase Price 10 or more, but less than 20 10% $33,000 20 or more, but less than 40 20% $66,000 Incentive discounts will be applied once the Buyer submits to the Seller proof of employment in a full time position (e.g. pay stubs) for a position documenting that the full-time position has been filled by an individual or individuals consistently...
Sample 1
Job Creation Incentive. This Incentive is being awarded to Business for it to expand to the size, enterprise and/or revenue levels experienced by the Business prior to the National Disaster declaration and COVID-19 pandemic crisis that caused economic and business retraction. This Incentive is being provided to promote or develop new or expanded business enterprise that create or retain primary jobs in substantial conformity with the Act. Business is obligated to retain jobs or increase its employment or payroll back or business enterprise back to the numbers prior to the COVID-19 National Disaster, as well as to train its employees on how to conduct business safely and in accordance with Center for Disease Control standards during this and any future similar National disaster declaration. Business further agrees to provide Corporation with the following information: (a) Ad valorem tax receipt showing Business’s personal property taxes paid for 2019 : (b) Texas Comptroller of Public Accounts sales tax receipt for January-March, 2020; and (c) Texas Workforce Commission’s Unemployment Tax Services Employer’s Quarterly Report filed January –March, 2020..
Sample 1
Job Creation Incentive. This Incentive is being awarded to Business for it to expand to the size, enterprise and/or revenue levels experienced by the Business prior to the National Disaster declaration and COVID-19 pandemic crisis that caused economic and business retraction. This Incentive is being provided to promote or develop new or expanded business enterprise that create or retain primary jobs in substantial conformity with the Act. Business is obligated to retain jobs or increase its employment or payroll back or business enterprise back to the numbers prior to the COVID-19 National Disaster, as well as to train its employees on how to conduct business safely and in accordance with Center for Disease Control standards during this and any future similar National Disaster declaration. Business further agrees to provide Corporation with the following information on or before the Expiration Date: (a) Cover letter with Business name, contact information and amount requested under the program the Business is applying for; (b) Most recent (2017 & 2018 or 2018 & 2019) tax returns. Returns must include summary pages and worksheets; (c) 12 month profit & loss statement; (d) February 2020 payroll documentation, if applicable; and any further monthly payroll documentation for months subsequent to the the effective date of the Agreement; (e) Copy of lease or monthly rent invoices, if applicable. Copies of cancelled check are acceptable; and (f) Texas Comptroller of Public Accounts sales tax statement for either February 2020 or most recent filing.
Sample 1
Job Creation Incentive. The County shall provide an economic development incentive to Panacea for the creation of Jobs, as follows: (A) The County will provide a one-time incentive to Panacea for each Job created on the Property during the period ending five years from the date of Closing, as follows: (1) $1,000 for each Job paying an annual wage of at least 115 percent of the County’s Average Annual Wage; (2) $2,000 for each Job paying an annual wage of at least 125 percent of the County’s Average Annual Wage; and (3) $3,000 for each Job paying an annual wage of at least 150 percent of the County’s Average Annual Wage. (B) Payment shall be made to Panacea in accordance with the provisions set forth by section 218.70, Florida Statutes, Florida’s Prompt Payment Act, following compliance with the reporting requirements described in the following subsection (C) to align with the County’s budget cycle. (C) Panacea shall provide employment reports, as described in the following subsection (D) to the County certifying the roster of Jobs and corresponding annual wages created during the following periods: (1) the period beginning upon issuance date of a certificate of completion and certificate of occupancy for the first building on the Property and ending on the following December 31, such report to be delivered to the County not later than the next April 1; and (2) the periods beginning on each January 1 thereafter and ending on the following December 31 or the final day of the 5-year period following issuance date of the certificate of completion and certificate of occupancy for the first building on the Property, whichever occurs earliest, such report to be delivered to the County not later than the next April 1. Each such report shall certify that the Jobs listed therein were created during the reporting period and have not been the basis of any previous incentive payment.
Sample 1

Related to Job Creation Incentive

  • Education Incentive A. The following monthly education incentive pay will be paid to each employee upon completing the listed degree and providing proof of completion to the Agency. Associate Degree Two percent (2%) Bachelor Degree Four percent (4%) B. The above percentages will be based upon the employee’s base rate of pay. C. An employee will be entitled to one (1) education incentive pay only. D. Degrees must be from an accredited institution of higher education.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year prior to the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the previous year, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the previous year. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly. b) To be eligible, an employee must submit an irrevocable notice of retirement by February 1st which must be accompanied by a Teachers’ Retirement System (TRS) member requested “Personal Statement of Benefits” and a “Benefit Estimate” confirmation of total years of service. An employee with ten (10) years of full-time service with Neoga C.U.S.D. No. 3 is considered to be eligible for the retirement incentive by meeting one of the following conditions at the time of retirement: 1) The employee is sixty (60) years of age and has ten (10) years of creditable TRS service. 2) The employee is at least fifty-five (55) years of age and has thirty- five (35) years of creditable TRS service. c) If, during the term of this Agreement, any legislation and/or TRS rules/regulations are enacted or not reenacted and/or adopted or amended that result in a greater cost to the District than the costs generated by this Agreement, or that change the definition of what is subject to the 6% TRS cap, the parties agree that this Section shall be null and void and upon the demand of any party shall meet to bargain language to succeed this paragraph.

  • 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 Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!