Second Agreement Period Sample Clauses

Second Agreement Period. In the second agreement period, ACO is placed into a CMS-mandated glide path consisting of five tiers, each alphabetically-sequenced A through E (each, a “Level”; referred to, individually, using its letter, i.e., “Level A”), through which the ACO automatically moves sequentially with each Performance Year (i.e., Level B, then C…then E), subject to paragraph (C) below. Participant acknowledges that, beginning with Level C onward, the ACO participates in a two-sided model, as described in 42 C.F.R. § 425.605(d)(1)(iii)-(v), requiring it to repay CMS for certain financial losses that result when the aggregate per-beneficiary Medicare Part A and B expenditures for beneficiaries assigned to all ACO participants exceed the benchmark above a certain level for a given Performance Year (possibility of owing CMS money, “Downside Risk”; each Performance Year with Downside Risk, a “Downside Risk Year”; monies owed referred to, collectively, as “Shared Losses”).

Second Agreement Period. The labour union confederations will meet up in June 2015 to review the general fi- nancial situation, implementation of the structural reformations, development of em- ployment, export and competitivity, as well as factors effecting these. Whenever nec- xxxxxx, the in-come and cost development information committee and third party ex- perts are used for clarification purposes. On the basis of the review, the labour unions agree on the salary solution's cost effect and implementation date for the second pe- riod.