Performance Terms Sample Clauses

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. 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) 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 October XX, XXXX and ending on or near September XX, XXXX. The performance period end date is an estimate based on the projected date of the last day of Fiscal XXXX 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 that 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%) that 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. 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 i. The number of RSUs that will be eligible to vest will be determined based on the extent to which the Corporation’s Share price over the period commencing on the Grant Date and continuing through the third anniversary of the Grant Date (the “Performance Period”) exceeds the volume-weighted average closing price per Share for the thirty (30) consecutive trading days preceding March 12, 2025, with the Share price at the end of the Performance Period determined based on the average closing price of a share reported on Nasdaq during the three (3) calendar months ending on the last day of the Performance Period (the “Ending Share Price”). ii. The number of RSUs that will be eligible to vest and be converted into the right to receive a number of shares of Common Stock will be determined at the end of the Performance Period in accordance with the table below, with the ultimate number of RSUs that are earned at the end of the Performance Period (the “Earned RSUs”) determined using straight line interpolation between the listed outcomes on the chart below. Ending Share Price $22.57 $45.13 $67.70 Percent of Target Number of Shares Eligible to Vesting 0% 100% 300% Notwithstanding the foregoing, if the Relative TSR (defined below) for the Performance Period is below the fifty-fifth (55th) percentile, the number of Earned RSUs may not exceed the Target Number of Shares.

Performance Terms. OCF agrees to abide by the following terms and conditions and provide the following documentation to the City: (a) OCF will develop a revised and updated strategic plan. The updated strategic plan will be drafted and provided to the City on or before June 30, 2020 (Whenever this Agreement states that OCF is to provide something to the City, it will be provided to the Mayor’s Office, the Common Council, the Room Tax Commission and the Madison Arts Commission (MAC)). If OCF is unable to meet this date, OCF will inform the City, in writing, of the reason(s) why and a proposed new date for submission of the updated strategic plan. (b) OCF will prepare an Annual Community 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 2020 based on the most recent OCF Annual Community Report and OCF’s Annual Commitment to Arts, Educational and Community Budget Report (whenever this Agreement states “Annual Community Arts Budget Report,” it is referring to OCF’s Commitment to Arts, Educational and Community Budget Report). The baseline for establishing goals and measuring performance shall be based on the Annual Community Arts Budget Report for OCF’s fiscal year 2018-2019, as set forth in Section (2)(h) herein. (c) During 2020, OCF shall maintain segregated accounting to keep track of any amounts received from the City, shall keep a record of where those amounts are spent, and shall provide information to the City demonstrating that the City grant was used for operations and capital expenses as required by the Structural Agreement. (d) 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 ...

Performance Terms. Based upon representations made to the Company, by the Consultant of their organization, as well as reasonable expectations of the Company, from the Consultant, the following performance terms apply: [See attached.] Consultant understands and agrees that any failure to deliver the "services as described", may result in termination and possibly non-payment for any services disputed or considered not received; Delivery constitutes a reasonable and substantial condition of this engagement but in no way guarantees any continued relationship or engagement.

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.