Penalty and Award Sample Clauses

Penalty and Award. Transaction Processing Quarterly Payments ----------------------------------------------------------- Financial --------- ----------------------------------------------------------- Unacceptable - Penalty $12,500 ----------------------------------------------------------- Standard $ 0 ----------------------------------------------------------- Award - Lower Half $ 6,250 ----------------------------------------------------------- Award - Upper Half $12,500 ----------------------------------------------------------- Non Financial ------------- ----------------------------------------------------------- Unacceptable - Penalty $12,500 ----------------------------------------------------------- Standard $ 0 ----------------------------------------------------------- Award - Lower Half $ 6,250 ----------------------------------------------------------- Award - Upper Half $12,500 ----------------------------------------------------------- Overall ------- ----------------------------------------------------------- Unacceptable - Penalty $25,000 ----------------------------------------------------------- Standard $ 0 ----------------------------------------------------------- Award - Lower Half $12,500 ----------------------------------------------------------- Award - Upper Half $25,000 ----------------------------------------------------------- NQR Best-In-Class* $25,000 ----------------------------------------------------------- ----------------------------------------------------------- Call Center Quarterly Payments ----------------------------------------------------------- Overall ------- ----------------------------------------------------------- Unacceptable - Penalty $50,000 ----------------------------------------------------------- Standard $ 0 ----------------------------------------------------------- Award - Lower Half $25,000 ----------------------------------------------------------- Award - Upper Half $50,000 ----------------------------------------------------------- NQR Best-In-Class* $25,000 ----------------------------------------------------------- * NQR Best-In-Class is WMGF scores matching the highest NQR rating of all firms evaluated during the quarter. Total potential Annual Penalties - $400,000 Total potential Annual Awards - $400,000 + $200,000 for NQR Best-In-Class The parties agree to review all NQR standards annually and update such standards effective as of the beginning of the 2/nd/ quarter of each year to accurately reflect the th...
Sample 1
AutoNDA by SimpleDocs
Penalty and Award. Transaction Processing Annual Unacceptable - Penalty $500k Standard $0 Exceptional - Reward $200k Call Center Unacceptable - Penalty $500k Standard $0 Exceptional - Reward $200k Both Transaction and Call Center Additional Penalty/Reward Unacceptable - Penalty $500k Standard $0 Exceptional - Reward $200k . In the event that PFPC fails to meet the Standard Performance level consistently for any yearly period PFPC shall pay the NQR related fees of approximately $130k for that year. . In the event that PFPC meets or exceeds the Standard Performance level consistently for any yearly period, Munder will reimburse PFPC for the NQR related fees of approximately $130k for that year. Total potential Annual Penalties - $1.5 million + NQR fees Total potential Annual Rewards - $600k + NQR fees . 50% of the NQR annual fee reimbursement by Munder to PFPC shall be based on whether or not PFPC has consistently met the transaction processing standard in the "overall" category. . 50% of the NQR annual fee reimbursement by Munder to PFPC shall be based on whether or not PFPC has consistently met the Call Center standard in at least two of the three measured categories.
Sample 1
Penalty and Award. TRANSACTION PROCESSING QUARTERLY PAYMENTS ------------------------------------------------- Financial ------------------------------------------------- Unacceptable - Penalty $25,000 ------------------------------------------------- Standard $0 ------------------------------------------------- Exceptional - Reward $25,000 ------------------------------------------------- NON FINANCIAL ------------------------------------------------- Unacceptable - Penalty $25,000 ------------------------------------------------- Standard $0 ------------------------------------------------- Exceptional - Reward $25,000 ------------------------------------------------- Overall ------------------------------------------------- Unacceptable - Penalty $25,000 ------------------------------------------------- Standard $0 ------------------------------------------------- Exceptional - Reward $25,000 ------------------------------------------------- NQR Best-In-Class* $25,000 ------------------------------------------------- -------------------------------------------------
Sample 1
Penalty and Award. Transaction Processing Quarterly Payments ---------------------- ------------------ Financial Unacceptable - Penalty $25,000 Standard $ 0 Award $25,000 Non Financial Unacceptable - Penalty $25,000 Standard $ 0 Award $25,000 Overall UNACCEPTABLE - PENALTY $25,000 Standard $ 0 Award $25,000 NQR Best-In-Class* $25,000 Call Center Quarterly Payments ----------- ------------------ Overall Unacceptable - Penalty $25,000 Standard $ 0 Award $25,000 NQR Best-In-Class* $25,000 C-5 * NQR Best-In-Class is WMGF scores matching the highest NQR rating of all firms evaluated during the quarter. TOTAL POTENTIAL ANNUAL PENALTIES - $400,000 TOTAL POTENTIAL ANNUAL AWARDS - $400,000 + $200,000 for NQR Best-In-Class The parties agree to review all NQR standards annually and update such standards effective as of the beginning of the 2nd quarter of each year to accurately reflect the then current NQR quality ratings. Exhibit 1 of Schedule C Performance Standards Effective Date: April 1, 2003 through March 31, 2004 PFPC's obligation to meet the "Standard Performance Range" for each of the following Performance Standards shall be measured in the aggregate with respect to all Funds.
Sample 1

Related to Penalty and Award

  • Clawback/Forfeiture (i) Notwithstanding anything to the contrary contained herein, in the event of a material restatement of the Company’s issued financial statements, the Committee shall review the facts and circumstances underlying the restatement (including, without limitation any potential wrongdoing by the Participant and whether the restatement was the result of negligence or intentional or gross misconduct) and may in its sole discretion direct the Company to recover all or a portion of any income or gain realized on the settlement of the RSUs or the subsequent sale of shares of Stock acquired upon settlement of the RSUs with respect to any fiscal year in which the Company’s financial results are negatively impacted by such restatement. If the Committee directs the Company to recover any such amount from the Participant, then the Participant agrees to and shall be required to repay any such amount to the Company within 30 days after the Company demands repayment. In addition, if the Company is required by law to include an additional “clawback” or “forfeiture” provision to outstanding awards, under the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act or otherwise, then such clawback or forfeiture provision shall also apply to this Agreement as if it had been included on the Date of Grant and the Company shall promptly notify the Participant of such additional provision. In addition, if a Participant has engaged or is engaged in Detrimental Activity after the Participant’s employment or service with the Company or its subsidiaries has ceased, then the Participant, within 30 days after written demand by the Company, shall return any income or gain realized on the settlement of the RSUs or the subsequent sale of shares of Stock acquired upon settlement of the RSUs.

  • Retention Award The Company shall pay the Executive $2,750,000, plus interest at the rate specified below (the “Retention Award”) in a lump-sum cash payment in July 2014, provided that the Executive remains employed through December 31, 2013. The Retention Award shall be credited with interest based on the Prime Rate of SunTrust Bank, Atlanta. For the avoidance of doubt, if the Executive is employed through December 31, 2013, the Company shall pay the Retention Award in July 2014 without regard for the Executive’s termination of employment for any reason between December 31, 2013 and July 2014.

  • The Award All compensation awarded for any taking, whether for the whole or a portion of the Leased Premises, shall be the sole property of the Landlord whether such compensation shall be awarded for diminution in the value of, or loss of, the leasehold or for diminution in the value of, or loss of, the fee in the Leased Premises, or otherwise. The Tenant hereby assigns to Landlord all of Tenant's right and title to and interest in any and all such compensation. However, the Landlord shall not be entitled to and Tenant shall have the sole right to make its independent claim for and retain any portion of any award made by the appropriating authority directly to Tenant for loss of business, or damage to or depreciation of, and cost of removal of fixtures, personalty and improvements installed in the Leased Premises by, or at the expense of Tenant, and to any other award made by the appropriating authority directly to Tenant.

  • RSU Award An RSU Award shall be similar in nature to a Restricted Stock Award except that no shares of Stock are actually transferred to the Holder until a later date specified in the applicable Award Agreement. Each RSU shall have a value equal to the Fair Market Value of a share of Stock.

  • Award The Parties agree that the award of a majority of the arbitrators, or in the case of a single arbitrator, of such arbitrator, shall be final and binding upon each of them.

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • Initial Equity Award Upon or as soon as practicable after the Effective Date, the Company will award Executive restricted stock units and stock options to purchase shares of the Company’s common stock, with an aggregate grant date fair market value as determined by the Board for accounting purposes of $1,200,000. Such restricted stock units or stock options, as applicable, to vest ratably over 4 years (25% each year). Allocation between restricted stock units and stock options to be determined by the Board.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Clawback Rights The Annual Bonus, and any and all stock based compensation (such as options and equity awards) (collectively, the “Clawback Benefits”) shall be subject to “Clawback Rights” as follows: during the period that the Executive is employed by the Parent and upon the termination of the Executive’s employment and for a period of three (3) years thereafter, if there is a restatement of any financial results from which any Clawback Benefits to the Executive shall have been determined, the Executive agrees to repay any amounts which were determined by reference to any Parent financial results which were later restated (as defined below), to the extent the Clawback Benefits amounts paid exceed the Clawback Benefits amounts that would have been paid, based on the restatement of the Parent’s financial information. All Clawback Benefits amounts resulting from such restated financial results shall be retroactively adjusted by the Compensation Committee to take into account the restated results, and any excess portion of the Clawback Benefits resulting from such restated results shall be immediately surrendered to the Parent and if not so surrendered within ninety (90) days of the revised calculation being provided to the Executive by the Compensation Committee following a publicly announced restatement, the Parent shall have the right to take any and all action to effectuate such adjustment. The calculation of the revised Clawback Benefits amount shall be determined by the Compensation Committee in good faith and in accordance with applicable law, rules and regulations. All determinations by the Compensation Committee with respect to the Clawback Rights shall be final and binding on the Parent and the Executive. The Clawback Rights shall terminate following a Change of Control as defined in Section 12(f), subject to applicable law, rules and regulations. For purposes of this Section 7, a restatement of financial results that requires a repayment of a portion of the Clawback Benefits amounts shall mean a restatement resulting from material non-compliance of the Parent with any financial reporting requirement under the federal securities laws and shall not include a restatement of financial results resulting from subsequent changes in accounting pronouncements or requirements which were not in effect on the date the financial statements were originally prepared (“Restatements”). The parties acknowledge it is their intention that the foregoing Clawback Rights as relates to Restatements conform in all respects to the provisions of the Dxxx-Fxxxx Xxxx Street Reform and Consumer Protection Act of 2010 (“Dxxx-Xxxxx Act”) and require recovery of all “incentive-based” compensation, pursuant to the provisions of the Dxxx-Xxxxx Act and any and all rules and regulations promulgated thereunder from time to time in effect. Accordingly, the terms and provisions of this Agreement shall be deemed automatically amended from time to time to assure compliance with the Dxxx-Xxxxx Act and such rules and regulations as hereafter may be adopted and in effect.

  • Company Stock Options At the Effective Time, each Company Stock --------------------- Option shall be deemed to have been assumed by Evergreen, without further action by Evergreen, and shall thereafter be deemed an option to acquire, on the same terms and conditions as were applicable under such Company Stock Option, that number of shares of Surviving Corporation Common Stock that would have been received in respect of such Company Stock Option if it had been exercised immediately prior to the Effective Time (such Company Stock Options assumed by Evergreen, the "Assumed Chancellor Stock Options"); provided, however, that, for -------- ------- each optionholder, (i) the aggregate fair market value of Surviving Corporation Common Stock subject to Assumed Chancellor Stock Options immediately after the Effective Time shall not exceed the aggregate exercise price thereof by more than the excess of the aggregate fair market value of Company Common Stock subject to Company Stock Options immediately before the Effective Time over the aggregate exercise price thereof and (ii) on a share-by-share comparison, the ratio of the exercise price of the Assumed Chancellor Stock Option to the fair market value of the Surviving Corporation Common Stock immediately after the Effective Time is no more favorable to the optionholder than the ratio of the exercise price of the Company Stock Option to the fair market value of the Company Common Stock immediately before the Effective Time; and provided, -------- further, that no fractional shares shall be issued on the exercise of such ------- Assumed Chancellor Stock Option and, in lieu thereof, the holder of such Assumed Chancellor Stock Option shall only be entitled to a cash payment in the amount of such fraction multiplied by the closing price per share of Surviving Corporation Common Stock on the Nasdaq National Market on the business day immediately prior to the date of such exercise.

Time is Money Join Law Insider Premium to draft better contracts faster.