Risk pool Sample Clauses

Risk pool. Risk pool" means utilizing and assessing risk factors for determining the need for an examination of an agreement. Such risk factors may include the value of the agreement and the prior and current community agency historical profile.
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Risk pool. 10.1 RISK POOL The Core Group shall develop a financial incentive program as part of the Risk Pool Plan to encourage superior performance based upon Project objectives and to reward the Risk Pool Members for successfully achieving superior performance and successfully exceeding the Core Group’s established expectations and benchmarks. Upon approval by the Core Group, the Risk Pool Plan shall be included in the approved Validation Study and may be amended by Change Order. 10.1.1 The incentive program shall provide a basis for continually monitoring and reviewing the IPD Team’s performance. This process will provide the IPD Team with periodic performance information to allow corrections or modifications so as to improve the quality of the Work and Services. The incentive program shall be funded with shared savings as evidenced by contingency preservation and reduction in the Payable Costs or as otherwise agreed among the Owner and Risk Pool Members. 10.2 ESTABLISHMENT OF RISK POOL The “Risk Pool” is the collective pool of the profits put at risk by Risk Pool Members if the Project is delivered for more than the EMP or otherwise fails to achieve established criteria, as more particularly addressed in the Risk Pool Plan. Profit shall be as defined in this Agreement and the Risk Pool Plan. Amounts earned by the Risk Pool Members under the financial incentive program will augment the Risk Pool. 10.3 The Risk Pool Plan will be developed through consensus by Owner and the Risk Pool Members, but the Core Group shall have final authority to determine the basis for participation and percent participation by each Risk Pool Member. Prior to finalization of the Risk Pool Plan, any Precon Trade or consultant proposed to be a Risk Pool Member may refuse participation in the Risk Pool Plan. Such Precon Trade or consultant will instead be compensated on a cost-plus-fee basis, subject to a guaranteed maximum price as set forth in the subcontract, or else replaced, at the discretion of the Core Group. 10.4 The Risk Pool Plan shall identify (a) the Risk Pool Members; (b) the incentive amounts and amount of profit that is at risk in the Risk Pool; (c) each Risk Pool Member’s interest in the Risk Pool; (d) the Target Cost; (e) any Project success metrics or conditions of satisfaction that must be achieved by the Risk Pool Members as a condition to payment of some or all of the Risk Pool; (f) the manner of sharing savings realized in the final Actual Cost relative to the Expected...
Risk pool. Improve Appendix 2A provides a list of detailed schemes under each theme.

Related to Risk pool

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