Performance Commitments Partial Compliance Threshold Formula Sample Clauses

Performance Commitments Partial Compliance Threshold Formula. If, in accordance with a particular scheduled Assessment Date set forth in the chart in Exhibit 1 of this Agreement, P&W does not meet the corresponding annual Job Creation or Direct Performance Commitments or Annual Wage Objective on or before the corresponding Assessment Date, then P&W’s Incentive for such year shall be prorated in accordance with the Compliance Threshold formula set forth on Schedule A to this Agreement, and in such event P&W will receive an Adjusted Incentive Amount for such year. In such event, P&W shall be entitled to the catch up right set forth in Section 3.5 below. For clarity the Adjusted Incentive Amount set forth in this Section 3.4 shall only apply to P&W’s Job Creation and Direct Investment Performance Commitments and shall have no applicability to the Job Retention or Direct Investment Retention Performance Commitments.