Performance Review Frequency and Compensation Sample Clauses

Performance Review Frequency and Compensation. The Vessel’s actual performance shall be reviewed by Customer and compared against the Speed Performance Warranty, Loading Rate Warranty, Discharge Rate Warranty and Regasification Flow Rate Warranty approximately every ***** throughout the Term (each a “Performance Period”). The first Performance Period will commence on the Delivery Date and end on the first ***** anniversary of such date. Each subsequent Performance Period shall be a ***** period commencing on the expiration of the previous Performance Period, except that the final Performance Period will end on the date of termination of this Agreement. Operations or, if applicable, sea passages in progress on the last day of a Performance Period will be included with the subsequent Performance Period. If it is found that the Vessel has failed to maintain the Speed Performance Warranty, Loading Rate Warranty, Discharge Rate Warranty or Regasification Flow Rate Warranty during the succeeding three (3) month period (or at any time during the Term), Customer shall be retroactively compensated in respect of such failings as follows:
Sample 1Sample 2
AutoNDA by SimpleDocs
Performance Review Frequency and Compensation. The Vessel’s actual performance shall be reviewed by Charterer and compared against the Speed Performance Warranty, Fuel Consumption Warranty, Loading Rate Warranty, Discharge Rate Warranty, Boil-off Warranty and Regasification Flow Rate Warranty approximately every ***** throughout the Charter Period (each a “Performance Period”). The first Performance Period will commence with the Delivery Date and end on the first ***** anniversary of such date. Each subsequent Performance Period shall be a ***** period commencing on the expiration of the previous Performance Period, except that the final Performance Period will end with redelivery of the Vessel to Owner. Operations or, if applicable, sea passages in progress on the last day of a Performance Period will be included with the subsequent Performance Period. If it is found that the Vessel has failed to maintain the Speed Performance Warranty, Fuel Consumption Warranty, Loading Rate Warranty, Discharging Rate Warranty, Boil-Off Warranty or Regasification Flow Rate Warranty during the preceding ***** period (or at any time during the Charter Period), Charterer shall be retroactively compensated in respect of such failings as follows:
Sample 1Sample 2

Related to Performance Review Frequency and Compensation

  • Performance Review The Company will periodically review Executive’s performance on no less than an annual basis and will make adjustments to salary or other compensation, as they deem appropriate in their sole and absolute discretion.

  • Performance Reviews Performance reviews will be conducted at least annually by the President/CEO or designee.

  • Compensation Review The compensation of the Executive will be reviewed not less frequently than annually by the board of directors of the Company.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Performance and Salary Review Company will periodically review Executive’s performance on no less than an annual basis. Adjustments to salary or other compensation, if any, will be made by Company in its sole and absolute discretion.

  • Services and Compensation Consultant agrees to perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

  • 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 Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

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