Job Creation Incentive Clause Samples

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
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Job Creation Incentive. Buyer has committed to hire and employ individuals for at least forty (40) full-time positions within the Qualification Period plus six months 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 difference 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, but shall be able to count up to six months following the Qualification Period for the “six consecutive months” as required below. The definition of job shall also include the following definitions: • Job shall be physically located at the site of the project at Exit 118 or 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% $161,000 20 or more, but less than 40 20% $322,000 40 or more 30% $483,000 Incentive discounts will be applied once the Buyer submits to the Seller proof of empl...
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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..
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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.
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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.
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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 To recognize the contribution of those employees who have provided long and dedicated service to the district, the Board shall provide a retirement incentive to teachers who meet the following eligibility requirements: a. the teacher must have completed 15 years of service to District #34 by the date of his or her retirement; b. the teacher must submit a written, irrevocable, notice of intent to retire to the Superintendent by no later than August 1 of the start of the retirement incentive period; and c. the teacher must not have received an increase of greater than 6% in creditable earnings (excluding any grandfathered or exempt earnings) in the three (3) school years immediately preceding the proposed start of the retirement incentive. In up to each of the final four years of his/her employment, the teacher shall receive an incentive of 5% over his/her prior year’s base salary (which in the second, third and fourth year of the incentive includes the prior year’s retirement incentive). In the event that the State of Illinois should raise the maximum allowable percent increase, the Board will honor an increase up to 6% so long as the district does not incur any penalty. Once the teacher begins to receive the retirement incentive, he/she shall not be eligible for earnings from extra duties or summer school, stipends, and/or any other type of compensation that could result in the Board’s obligation to pay any additional contribution or “penalty” to TRS. However, the teacher may submit a request to the Superintendent’s office to continue performing paid extra duties or to earn additional compensation, so long as any such additional compensation would not result in the teacher receiving a greater than 6% increase over his/her prior year’s creditable earnings. The Superintendent’s grant or denial of such request shall be non-precedential and non-grievable. Any payment necessary to ensure the retiring employee receives an incentive of 5% shall be made in a lump sum each year by no later than June 30th. In the event a certified employee who tenders his or her irrevocable letter of resignation experiences a drastic and unanticipated change in personal circumstances, the Board may, at its option, permit the certified employee to revoke his or her irrevocable letter of resignation. In the event the Illinois General Assembly enacts any legislation during the term of this Agreement, which legislation would require the District to pay any additional moneys (or lose any additional revenues) to the State of Illinois and/or the Illinois Teachers’ Retirement System on account of its payment of this retirement incentive, then this retirement incentive shall cease to exist at the end of the current school term. However, prior to the cessation of the benefit, either party may demand to bargain concerning whether some or all of the retirement incentive can be continued without adding any additional costs to the District. Eligibility to submit a request to receive this incentive shall terminate on August 1, 2021, and any such request received prior to August 1, 2021, must be for retirement to occur no later than the end of the 2024-2025 school year.

  • 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.