Production Incentive. For each twelve month period, the production incentive will be the greatest of the following: (i) For every Barrel of oil produced in excess of sixteen decimal four two five (16.425) million Barrels in said twelve month period, the Xxxxxx Operator will pay to the Contractor the sum of [***]; or (ii) The Xxxxxx Operator will pay to the Contractor a production incentive for gas. In Gas FHR Regime, the production incentive for gas will be divided into a windfall element and a performance-based element: a) The windfall element of the production incentive ("Windfall Incentive") will be payable for gas produced in excess of (100/110)% of the Functional Specification. Incentive gas will be calculated as MMscf produced in the month in excess of the (100/110)% of the Functional Specification times days in the month and will be converted to excess equivalent barrels using the average GOR for the month (e.g. if average gas produced in a 30-day month is 5 MMscf/d in excess of (100/110)% of Functional Specification, and average GOR for the month is 3000 scf/stb, then Windfall Incentive is 5,000,000 / 3000 * [***]). Whatever the actual GOR, the GOR to be used for the calculation will be capped at 5000 scf/stb. Windfall Incentive will be payable at the reduced rate of [***]. Monthly Windfall Incentive payment will not exceed [***]. b) A performance element of the production incentive ("Performance Incentive") will also be paid, calculated in part on a monthly basis, and in part on an annual basis. Monthly and annual thresholds for the Performance Incentive will be based upon Gas Production Efficiency. The threshold for payment of the performance element of the production incentive will be when Gas Production Efficiency is equal to Y%. Y shall be 92% for the monthly Performance Incentive and 91% for the annual Performance Incentive. The Performance Incentive will be payable as: Performance Incentive ($) = (Gas Production Efficiency (%)-Y%) × Z where Z is one half of the Hire Rate. A monthly calculation shall be made with Y having a value of 92%, and the Performance Incentive shall be payable for each day of the month in question for which the Target Gas Rate is greater than zero. Contractor may elect either to receive payment when submitting the billing for the relevant month or to retain entitlement to payment of the monthly Performance Incentive earned until the Annual Reconciliation. If the Contractor elects to retain the Performance Incentive for any month, the Contra...

Production Incentive. [***] [***]

Production Incentive added by Addendum 1 is hereby deleted in its entirety.

Production Incentive. Netlist shall place a [***] pre-paid Purchase Order for [***] chipsets [***] at a [***] price of [***] when [***]. [***] is defined as Netlist [***] and (a) unless waived by Netlist, the [***] has [***] and (b) Netlist has received [***].

Production Incentive. 23.01 During the life of this Agreement, the Company shall have the right to install a production incentive system and to alter or amend any system that it may install. The Company will discuss the details of any plan to be installed with the Union at least three (3) months prior to the installation of such plan and supply the Union with the pertinent documents relating to the plan. It is understood that the rates of pay specified in Schedule "A" shall not be reduced in the event an incentive plan is reinstated.

Production Incentive rate reductions shall not apply to anyone working as Production Assistants or Trainees in any department.

Related to Production Incentive

Education Incentive A. The following monthly education incentive pay will be paid to each employee upon completing the listed degree and providing proof of completion to the Agency. Associate Degree Two percent (2%) Bachelor Degree Four percent (4%) B. The above percentages will be based upon the employee’s base rate of pay. C. An employee will be entitled to one (1) education incentive pay only. D. Degrees must be from an accredited institution of higher education.
Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.
Performance Improvement Plan timely and accurate completion of key actions due within the reporting period 100 percent The Supplier will design and develop an improvement plan and agree milestones and deliverables with the Authority 3.2 The Authority may from time to time make changes to the KPIs measured as set out in paragraph 3.1 above and shall issue a replacement version to the Supplier. The Authority shall give notice In Writing of any such change to the KPIs measured and shall specify the date from which the replacement KPIs must be used for future reports. Such date shall be at least thirty (30) calendar days following the date of the notice to the Supplier.
Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.
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.
Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.
Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.
Performance Incentives As a bonus, to supplement Assistant Coach’s compensation, as set out herein, the University agrees to pay the following sums upon attainment of each specified goal, provided the Program is in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Assistant Coach knew or should have known. Assistant Coach must also complete the _________ [insert sport] season as an Assistant [Men’s/Women’s] [delete if sport is football] __________ Coach to receive any performance incentives for that season. Payment will be made to Assistant Coach within 60 days after goal is accomplished. (a) $_________ in any contract year in which the team wins the __________ Conference championship. (b) $_________ in any contract year in which the team participates in post-season NCAA competition. (c) $_________ for each game that the team wins in NCAA post-season competition. (d) $_________ in any contract year in which the team wins the NCAA championship.]
Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.
Long-Term Incentives The Company shall provide the Executive the opportunity to earn long-term incentive awards under the current equity and cash based plans and programs or replacements therefor at a level commensurate with the current aggregate opportunity being provided to the Executive.

Production Incentive Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Related to Production Incentive