Performance Adjustments. On each July 1, staff members whose salaries are at the Job Rate or between the Job Rate and the Ceiling shall, based on satisfactory performance, be entitled to an annual performance adjustment of 2%, but in no case will this result in a salary higher than the Ceiling.
Performance Adjustments. Based upon, and following receipt by the Banks of (a) (i) with respect to the first three fiscal quarters of each fiscal year, the Borrower's quarterly unaudited consolidated financial statements pursuant to Section 8.4(b) and (ii) with respect to the last fiscal quarter of each fiscal year, the Borrowers' annual audited consolidated financial statements pursuant to Section 8.4(a), and (b) a certificate of the chief financial officer of the Borrower setting forth calculations of the financial information set forth below, (the Borrower also hereby agreeing to provide to the Administrative Agent, simultaneously with the delivery of such certificate, telephonic notice of any Performance Adjustments based upon such calculations), the LIBOR Applicable Margin, the Commitment Fee Rate and the Standby Letter of Credit Fee Rate shall be subject to possible adjustment in accordance with the provisions of this paragraph (each such adjustment, a "Performance Adjustment"). Performance Adjustments shall be effective (the date of the effectiveness of any Performance Adjustment, a "Performance Adjustment Date") with respect to adjustments to the LIBOR Applicable Margin, the Commitment Fee Rate and the Standby Letter of Credit Fee Rate, three (3) Business Days following receipt by the Administrative Agent of (y) (i) with respect to the first three fiscal quarters of each fiscal year, the Borrower's quarterly unaudited consolidated financial statements pursuant to Section 8.4(b) and (ii) with respect to the last fiscal quarter of each fiscal year, the Borrower's annual audited consolidated financial statements pursuant to Section 8.4(a), and (z) a certificate of the chief financial officer of the Borrower setting forth calculations of the financial information set forth below (the Borrower also hereby agreeing to provide to the Administrative Agent, simultaneously with the delivery of such certificate, telephonic notice of any Performance Adjustments based upon such calculations). The LIBOR Applicable Margin, the Commitment Fee Rate, and the Standby Letter of Credit Fee Rate with respect to any period following any Performance Adjustment Date until the next succeeding Performance Adjustment Date shall be as set forth in the table below on the line furthest down in such table with respect to which the Borrower's ratio of (A) Consolidated Total Funded Debt during the period of four consecutive fiscal quarters most recently ended prior to such possible Performance Adjustment D...
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales growth goals and annual NOP growth goals for the 2019, 2020 and 2021 fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales growth goals, the annual NOP growth goals and the corresponding performance adjustment multiples are as follows: Annual Growth Goals over the Performance Period (2019 thru 2021 fiscal years) Payout – as Multiple of Award Units to Vest Net Sales (50%) NOP (50%) Threshold 3% 4% 0.5X Target 5% 9% 1.0X Maximum 12% 20% 2.0X The calculation of the “Adjusted Award Units” based on performance versus these growth goals will be determined as follows:
Performance Adjustments. For each XXX Period, if the Capacity Factor were assumed to be precisely 100 percent (100%), then the maximum XXX Payment (“Maximum Performance Adjustment”) due to Seller shall be defined as follows: Maximum Performance Adjustment = Contract Price x XXX Factor x 1.0000 x Contract Capacity x (Hours in applicable XXX Period minus Seller Excuse Hours). This calculation shall be rounded to the nearest $0.01. To the extent that Seller fails to satisfy the Performance Requirements specified above in Section 4.5, Seller shall be liable for and pay to Buyer “Performance Adjustments”, as defined herein. For each one percent (1%) by which the Capacity Factor in each XXX Period is less than the Performance Requirement for such XXX Period, Seller shall incur and pay to Buyer the following percentages (“Performance Adjustment Factors”) of the applicable Maximum Performance Adjustment: Performance Adjustment Factors For Each XXX Period XXX PERIOD Monthly Period 1. Super-Peak 2. Shoulder 3. Night A. June – September 3.00 2.00 1.25 B. Oct. – Dec., Jan. & Feb. 2.50 1.75 1.25 C. Mar. – May 1.50 1.25 1.00 For each XXX Period, if the applicable Capacity Factor is less than the applicable Performance Requirement, then the Performance Adjustment for such XXX Period shall be calculated as follows: Performance Adjustment = (Performance Requirement - Capacity Factor) x Performance Adjustment Factor x Maximum Performance Adjustment. For the purpose of calculating the Performance Adjustment for any month in Period A, the Capacity Factor for Period A will be measured, calculated, and settled on a monthly basis for each month in Period A. For the purpose of calculating the Performance Adjustment in Periods B and C, the Capacity Factor shall be measured, calculated, and settled for each individual month and then be trued-up on an aggregated basis for the entire XXX Period in the month immediately following the last month of the completed Period B or C, as applicable, which shall include all months constituting the applicable period. The Performance Adjustment true-up for Periods B and C shall be reflected in the invoice provided by Seller to Buyer submitted in April with respect to Period B and July with respect to Period C, or if the Transaction has been terminated or the last year of the Delivery Term has occurred, then the last month prior to the expiration or termination of the Transaction. The Party owing payment as a result of such true-up shall pay the other Party the undisputed...
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales goals and annual NOP goals for the 20__, 20__, and 20__ fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales and NOP goals and the corresponding performance adjustment multiples are as follows: Payout Multiple Net Sales NOP Percent of AOP * achieved for 20__ Annual growth achieved for 20__ and 20__ Percent of AOP * achieved for 20__ Annual growth achieved for 20__ and 20__ Threshold 0.5X Target 1.0X Maximum 2.0X * The Company’s Annual Operating Plan (AOP) as approved by the Board of Directors for 20__. The calculation of the “Adjusted Award Units” based on performance versus these annual goals will be determined as follows:
Performance Adjustments. 4.1 If the Executive:
Performance Adjustments. 15.1.1 Those faculty members who qualified for a performance adjustment during Spring quarter 2009, will receive a $1500 increase in base salary. Those faculty members who qualified for an exceptional performance adjustment will receive, in addition to the performance adjustment increase, an additional $2000 increase in base salary. Performance and exceptional performance adjustments will become effective September 16, 2009.
Performance Adjustments. (a) FAILURE TO ACHIEVE U.S. *** . If for any calendar year, either Party fails to achieve at least ninety percent (90%) of such Party's *** for such calendar year in the U.S. Territory, such Party's share of the split of U.S. Product Profits pursuant to Sections 6.4(a) and (b) for such calendar year shall be *** for each *** from the *** . For example, if a Party fulfills only *** of its *** and it is entitled to *** of the U.S. Product Profits, such Party's share of the U.S. Product Profits for such calendar year shall be reduced to *** and the other Party's share of the U.S. Product Profit shall be *** . In no event shall the adjustment to U.S. Product Profits exceed *** . For example, if a Party would otherwise be entitled to a *** profit split, such Party's profit split could not fall below *** as a result of this Section 6.8(a). Notwithstanding the foregoing, neither Party shall *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission. be deemed to have failed to achieve the required percentage of its *** if such failure resulted from an event of Force Majeure pursuant to Article 19. The calculations in this Section 6.8(a) of a Party's achievement of its *** shall be made on an aggregate basis across all Products and any reduction in the split of U.S. Product Profit shall apply to all Products for such calendar year.
Performance Adjustments. The Contractor shall pay the City $1.00 per each minute over 15 minutes if an empty Contractor trailer is not available at City transfer facility when needed for duration of more than 15 minutes.
Performance Adjustments. Section 8.1 - [Intentionally Omitted]
