Common use of Payment Systems Clause in Contracts

Payment Systems. Subject to clause 2.3A below, the Supplier has a choice to be paid under one of two payment systems: • MPS 1 (Milk Payment System 1): MPS 1 provides for stronger out of peak payments to support those suppliers with management systems which result in flatter supply patterns. If the Supplier elects to be paid under MPS 1, the Supplier will be eligible to receive the Productivity Incentive. • MPS 9/3 (Milk Payment System 9/3): There are two variations: o MPS 9/3 1:2 provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher protein production herds. Butterfat will be paid at half the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. o MPS 9/3 1:1 also provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher butterfat production herds. Butterfat will be paid at the same rate as the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. If there is a Sharefarmer Supplier under this Agreement, the Tatura Supplier and the Sharefarmer Supplier must both be paid under the same payment system being either MPS 1 or MPS 9/3 and if MPS 9/3 then under the same variation of it. If there is more than one Farm listed in Item 1 of the Details, all Farms must be paid under the same payment system as well. If neither payment system is ticked in the Details or if different payment systems are ticked, and the Supplier has previously supplied Tatura, Tatura will use the payment system selected by the Tatura Supplier during the 2020/2021 Financial Year (Applicable Pay Rate).

Payment Systems. Subject to clause 2.3A below2.3A, the Supplier has a choice to be paid under one of two payment systems: • MPS 1 (Milk Payment System 1): MPS 1 provides for stronger out of peak payments to support those suppliers with management systems which result in flatter supply patterns. If the Supplier elects to be paid under MPS 1, the Supplier will be eligible to receive the Productivity Incentive. • MPS 9/3 (Milk Payment System 9/3): There are two variations: o MPS 9/3 1:2 provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher protein production herds. Butterfat will be paid at half the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. o MPS 9/3 1:1 also provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher butterfat production herds. Butterfat will be paid at the same rate as the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. If there is a Sharefarmer Supplier under this Agreement, the Tatura Bega Supplier and the Sharefarmer Supplier must both be paid under the same payment system being either MPS 1 or MPS 9/3 and if MPS 9/3 then under the same variation of it. If there is more than one Farm listed in Item 1 of the Details, all Farms must be paid under the same payment system as well. If neither payment system is ticked in the Details or if different payment systems are ticked, and the Supplier has previously supplied TaturaBega, Tatura Bega will use the payment system selected by the Tatura Bega Supplier during the 2020/2021 2020/21 Financial Year (Applicable Pay Rate).

Payment Systems. Subject to clause 2.3A below, the The Supplier has a choice to be paid under one of two payment systems: • MPS 1 (Milk Payment System 1): MPS 1 provides for stronger out of peak payments to support those suppliers with management systems which result in flatter supply patterns. If the Supplier elects to be paid under MPS 1, the Supplier will be eligible to receive the Productivity Incentive. • MPS 9/3 (Milk Payment System 9/3): There are two variations: o MPS 9/3 1:2 provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher protein production herds. Butterfat will be paid at half the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. o MPS 9/3 1:1 also provides for relatively high spring pricing and assists suppliers with early season cash flow. It rewards higher butterfat production herds. Butterfat will be paid at the same rate as the protein payment rate under this option. The Supplier will not be eligible to receive the Productivity Incentive. If there is a Sharefarmer Supplier under this Agreement, the Tatura Supplier and the Sharefarmer Supplier must both be paid under the same payment system being either MPS 1 or MPS 9/3 and if MPS 9/3 then under the same variation of it. If there is more than one Farm listed in Item 1 of the Details, all Farms must be paid under the same payment system as well. If neither payment system is ticked in the Details or if different payment systems are ticked, and the Supplier has previously supplied Tatura, Tatura will use the payment system selected by the Tatura Supplier during the 2020/2021 Financial Year 2019/20 season (Applicable Pay Rate).