Performance Compensation Payments Sample Clauses

Performance Compensation Payments. In the event of any Company failure to comply with Section 1.2.7.1 above, Verizon Wireless may elect to receive Performance Compensation Payments. Verizon Wireless shall assess such Payments as set forth hereinafter, and Company shall make such Payments to Verizon Wireless in the form of a credit to the next monthly invoice or, at Verizon Wireless’ option, direct payment to Verizon Wireless. The sole purpose of such Performance Compensation Payments is to provide a mechanism within the context of the ongoing performance of the Agreement under which Verizon Wireless would determine and receive compensation, should Company fail in its performance, without immediate resort to Section 10 (“Termination”) of the Agreement. Accordingly, under normal circumstances, resort to and utilization of the Performance Compensation Payments would preclude the subsequent exercise of default provisions in the Agreement for the specific Company failures for which payments under this Section have been assessed (by Verizon Wireless) and credited (or paid) by Company in accordance Section 1.2.7.1. Notwithstanding such assessment and credit or payment, any failure or failures shall, nevertheless, be counted in determining the repeated, consistent or cumulative failure of Company to meet these performance requirements of this Agreement (or any amendments thereto). Matter #700-00000-0000 iManage#168918 Cello Partnership d/b/a Verizon Wireless — Proprietary and Confidential Agreement # 700-00000-0000 Amendment Number 3 Execution Version In all events, this Section, including any assessment for any failure or failures, shall not be construed to limit Company’s obligation to cure the specific failure or failures to perform. Moreover, Verizon Wireless reserves the right and shall have the option to invoke default should Company at any time fail to meet any performance requirements of this Agreement or any amendment(s) thereto. In addition to removing the Company employee and/or approved subcontractor promptly from the Verizon Wireless account the Performance Compensation Payments shall be calculated as follows: The Performance Compensation Payment from Company to Verizon Wireless shall be a dollar amount equal to one percent (1%) of the average monthly bxxxxxxx calculated over the prior six (6) months for the applicable Authorization Letter for each failure to comply with Section 1.2.7 above.”
Sample 1
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Performance Compensation Payments. Item Event Description Due Date PCP Payout Development Milestones Supplier fails to timely meet a Milestone set forth in a SOW Set forth in a SOW [***]
Sample 1

Related to Performance Compensation Payments

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • Incentive Payments (i) Amount in the Event of a Termination Pursuant to Sections 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 0.500 times the sum of Employee’s most recent annual base salary and target bonus, payable in equal installments on the same pay schedule in effect at the time of termination over a period of twelve (12) months from the date of termination.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Compensation Payable If the Servicer shall resign or be terminated, the Servicer shall continue to be entitled to all accrued and unpaid compensation payable to the Servicer through the date of such termination as specified in Section 4.09 of this Agreement.

  • Compensation Benefits In consideration of Executive's services hereunder, the Company shall provide Executive the following:

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