Performance-Based Incentive Payment (PBI Sample Clauses

Performance-Based Incentive Payment (PBI. For projects 30 kW and larger, 50% of the incentive will be paid upon project completion and verification. The remaining 50% will be paid on a performance-based incentive (PBI). Annual kilowatt hour-based payments will be structured so that under the expected annual operational requirements25 a project would receive the entire stream of performance payments in five years. To calculate the basis ($/kWh) of the annual PBI payments the following calculation is made: $/kWh = remaining 50% of incentive / total anticipated kWh discharge/offset
Sample 1
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Performance-Based Incentive Payment (PBI. On-site biogas, wind, waste heat to power and pressure reduction turbine projects 30 kW and larger will be paid 50% of the full incentive amount upon project completion and inspection. The remaining 50% of the incentive will be paid annually over five years. Annual payments will be structured so that based upon the expected capacity factor and renewable fuel commitment (if applicable) a project would receive the entire stream of performance payments in five years. $/kWh = remaining 50% of incentive / total anticipated kWh production Total anticipated kWh production = rated capacity * anticipated capacity factor * hours per year * five years For a 5-year period the PBI payment will be paid annually based on recorded kWh of electricity produced or offset over the previous 12 months. PBI Payment = $/kWh * actual annual kWh Directed biogas projects 30 kW and larger will be paid 50% of the technology incentive upon project completion and inspection. The remaining 50% of the technology incentive will be paid annually over five years. Annual kilowatt hour-based technology payments will be structured so that under the expected capacity factor, a project would receive the entire stream of performance payments in five years. Additionally, the renewable fuel adder will be paid annually over five years. Annual renewable fuel adder payments will be structured so that, under the expected fuel consumption, a project would receive the entire renewable fuel adder for which it was approved. $/kWh = remaining 50% of technology incentive / total anticipated kWh production over 5 years Total anticipated kWh production = rated capacity * anticipated capacity factor * hours per year * five years For a 5-year period the PBI payment will be paid annually based on recorded kWh of electricity produced over the previous 12 months. PLUS Renewable Incentive Annual Payment = ((rated capacity* % above min RN fuel * RN adder rate) / 5) * (actual capacity factor / anticipated capacity factor) Both on-site and directed biogas projects will receive a prorated PBI payment for the percentage of renewable fuel that is actually consumed.
Sample 1

Related to Performance-Based Incentive Payment (PBI

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Performance Incentive 4.9.1 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.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Performance Incentives Provided that sufficient funds are available from athletics revenue or gifts for the unrestricted use of the Department of Athletics, Athletics Director shall be entitled to receive additional non-salary compensation from the University in the form of the following stated bonuses for increased responsibilities, provided that all varsity sports are in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Athletics Director knew or should have known. [Insert Incentives – See examples below

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

  • PERFORMANCE OBJECTIVES 4.1 The Performance Plan (Annexure A) sets out-

  • Payout At the commencement of the period of leave, the College shall pay to the participant the moneys standing to his/her credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.

  • Performance Goals A. The Trust and State Street have developed mutually acceptable performance goals dated March 1, 2011 , and as may be amended from time to time, regarding the manner in which they expect to deliver and receive the services under this Agreement (hereinafter referred to as “Service Level Agreement”). The parties agree that such Service Level Agreement reflects performance goals and any failure to perform in accordance with the provisions thereof shall not be considered a breach of contract that gives rise to contractual or other remedies. It is the intention of the parties that the sole remedy for failure to perform in accordance with the provisions of the Service Level Agreement, or any dispute relating to performance goals set forth in the Service Level Agreement, will be a meeting of the parties to resolve the failure pursuant to the consultation procedure described in Sections V. B. and V.C. below. Notwithstanding the foregoing, the parties hereby acknowledge that any party’s failure (or lack thereof) to meet the provisions of the Service Level Agreement, while not in and of itself a breach of contract giving rise to contractual or other remedies, may factor into the Trust’s reasonably determined belief regarding the standard of care exercised by State Street hereunder.

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