Performance Terms. (a) The terms of this Section 2 will apply to your Performance Stock Units except in so far as Section 3 ("Treatment Upon Termination") or Section 5 ("Change in Control") apply.
(b) The Performance Period for your Performance Stock Units will be the three-year period commencing ________________, 20__ and ending ________________, 20__. Following the conclusion of the Performance Period, the Committee shall certify in writing the number of Performance Stock Units which are payable (your “Final Performance Stock Units”). The Committee will calculate your Final Performance Stock Units by multiplying your Performance Stock Units (at target) by the “Performance Factor.” The Performance Factor means a percentage (from zero to 200%) which is based on the Corporation’s Total Shareholder Return during the Performance Period compared to the companies in the Xxxxxxx 3000 Index, determined according to Table 1 of this Agreement.
(c) All determinations made by the Committee shall be binding and conclusive on all parties.
Performance Terms. (a) Grant Date and number of Stock Units
Performance Terms. Portfolio Manager acknowledges that energy savings will be calculated using CalTRACK version 2.0 as implemented by the AMV Platform managed by NYSERDA. Energy savings as calculated by the AMV Platform will form the Basis-of-Payment.
Performance Terms. OCF agrees to abide by the following terms and conditions and provide the following documentation to the City:
(a) OCF will develop and revise a strategic plan. The initial strategic plan will be drafted on or before October 15, 2011.
(b) OCF will prepare an annual report within 90 days of the close of its fiscal year, and will invite the public to a meeting on the report, encouraging community input. OCF will prepare performance projections for 2012 based on the most recent ODC annual report. The baseline for establishing goals and measuring performance shall be based on the annual report for fiscal year 2012-2013, as set forth in Section (2)(g) herein.
(c) OCF will operate the Overture Center in a financially sound manner measured as follows:
(i) OCF will generate earned and contributed revenue which together with the City subsidy, as described in Section 4 below, will result in sound financial operations, as detailed below.
(ii) The annual audited financial statements, prepared in accordance with GAAP, shall contain an unqualified opinion as to going concern status. Such records will be available for City review as described in the Structural Agreement.
(iii) The annual audited financial statements shall contain positive unrestricted net assets when adjusted for the amount invested in capital assets (also called expendable net assets, i.e., excluding the assets and liabilities associated with capital assets).
(iv) The annual audited financial statements shall not indicate a carry-forward operating deficit that is greater than 5 percent of expendable net assets as defined above, or 5 percent of the current year’s budget, whichever is larger.
(v) In the event OCF does not achieve the financial standards outlined in 2 (c) (i) through (iv) above, OCF will provide the City a plan to remedy the issue, and will provide evidence of progress on that plan by June 30, 2013.
(vi) These financial performance standards will be in effect beginning July 1, 2012, which is the first full fiscal year of OCF operation.
(d) OCF will prepare balance sheets and audited financial statements in accordance with GAAP within 90 days of the closing of its fiscal year and will provide copies to the City in a timely manner. Such records will be available for City review as described in the Structural Agreement.
(e) OCF will act to create a capital reserve fund in the amount of $5 million. From July 1, 2012 through June 30, 2014, OCF shall use its best efforts to accumulate a capital ...
Performance Terms. (a) The terms of this Section 2 will apply to your Performance Stock Units except in so far as Section 3 ("Treatment Upon Termination") or Section 5 ("Change in Control") apply.
(b) The performance period (the “Performance Period”) for your Performance Stock Units will be the three-year period commencing ______ 20__ and ending on or near _________, 20__. The performance period end date is an estimate based on the projected date of the last day of Fiscal 20__ and may be subject to change. Following the conclusion of the Performance Period, the Committee shall certify in writing the number of Performance Stock Units which are payable (your “Final Performance Stock Units”). The Committee will calculate your Final Performance Stock Units by multiplying your Performance Stock Units (at target) by the “Performance Factor.” The Performance Factor means a percentage (from zero to 200%) which is based on the Corporation’s Economic Return during the Performance Period, determined according to Table 1 of this Agreement.
(c) All determinations made by the Committee shall be binding and conclusive on all parties.
Performance Terms. Based upon representations made by the Employee, as well as expectations of the Employer, the following performance terms are entered into: Employee understands that failure to reach said benchmarks or performance terms may result in reassignment, demotion or termination. Employee further understands that reaching these benchmarks or performance terms constitutes a reasonable and substantial condition of employment but does not in any way guarantee or promise continued employment.
Performance Terms. (a) Grant Date and number of Stock Units Grant Date: Specified in Notice of Grant hereto Number of Stock Units Subject to Award: Specified in Notice of Grant hereto (the “Target Stock Units”)
Performance Terms. Based on representations made by Employee as well as expectations of the Employer, the parties agree that the performance terms set out in Schedule "A" shall constitute the standards for assessment of Employee's performance. The Employee understands that failure to reach said benchmarks or performance terms may result in reassignment, demotion or termination. Employee understands that reaching these benchmarks or performance terms constitutes a reasonable and substantial condition of employment but does not in any way guarantee or promise continued employment. 5
Performance Terms. Based on representations made by the Employee, as well as expectations of the Company, the performance terms set forth in Schedule A are agreed upon between the Parties. Employee understands that failure to reach specific benchmarks or performance terms, as reasonably determined in good faith by the Board of Directors, and in consultation with and accepted by Employee, may result in reassignment, demotion, or termination. Employee further understands that reaching specific benchmarks or performance terms constitutes a reasonable and substantial condition of employment but does not in any way guarantee or promise continued employment. Based on representations made by the Company, Employee’s performance is dependent upon the Company’s successful completion of (i) a bridge round of debt funding of not less than $1,500,000 (the “Bridge Financing”) or a greater amount, on commercially reasonable terms under the circumstances, to be determined by the Board of Directors, of which the initial $1.5M to be funded no later than September 12, 2016 and sufficient to cause the company to become and remain fully solvent and in good financial health, and able to carry out its business plan in the good faith judgement of the Employee and the Baord of Directors and (ii) a minimum financing of an amount to be determined by the Board of Directors to be funded by December 31, 2016 . Company understands that Employee’s reaching specific bench marks or performance terms will not be achievable without such financing.
Performance Terms. Based on representations made by the Employee, as well as expectations of the Employer, the following performance terms are entered into: * Processing valid procurement requests and schedules * it's your job to update and maintain information on computer systems * Maintaining and managing existing vendor and customer relationship The Employee understands that failure to reach said benchmarks or performance terms may result in reassignment, demotion or termination. Employee further understands that reaching these benchmarks or performance terms constitutes a reasonable and substantial condition of employment but does not in any way guarantee or promise continued employment.
