Award Range is further divided in half with a midpoint that falls between the top of the "Standard Performance Range" and the "Best in Class score" as determined each quarter. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows:
Award Range. (as defined below), the PFPC Monthly Fees next invoiced by PFPC following receipt of the NQR quarterly data shall be reduced by the applicable penalty, or increased by the applicable award, as shown in Section 4 of this Exhibit 1. The WMSS Monthly Fees for the same period will also be reduced by any applicable penalty, but shall not be increased by any applicable award. The PFPC Monthly Fees next invoiced by PFPC following receipt of the NQR quarterly data will be increased by an additional award, as shown in Section 4 of this Exhibit 1 under the heading "NQR Best in Class" if the quarterly Overall Accuracy rating matches the highest overall NQR rating earned by any firm evaluated by NQR for the quarter to which such data relates. Penalties or rewards will be assessed quarterly based on quarterly performance scores, excluding reclassified items, as provided by NQR.
Award Range. (as defined below), the PFPC Monthly Fees next invoiced by PFPC following receipt of the NQR quarterly data shall be reduced by the applicable penalty, or increased by the applicable award, as shown in Section 4 of this Exhibit 1. The WMSS Monthly Fees for the same period will also be reduced by any applicable penalty, but shall not be increased by any applicable award. The PFPC Monthly Fees next invoiced by PFPC following receipt of the NQR quarterly data will be increased by an additional award, as shown in Section 4 of this Exhibit 1 under the heading "NQR Best in Class" if the quarterly Overall Call Center rating matches the highest overall NQR rating earned by any firm evaluated by NQR for the quarter to which such data relates.
Examples of Award Range in a sentence
Based on this assessment, the participant may receive no award, the target award amount, or any amount within the Target Award Range to the nearest 10 performance shares.
Based on this assessment, the Participant may receive no award, the target award amount, or any amount within the Target Award Range in increments of 10 performance shares.
Floor of Individual Award Range: $500,000 (This amount is subject to the availability offunds.)10.
CDC involvement in this program is listed in the Activities Section above.Mechanism of Support: U19—Research Programs (Cooperative Agreements).Fiscal Year Funds: 2005.Approximate Total Funding:$2,000,000 (This amount is an estimate, and is subject to availability of funds.) Approximate Number of Awards: Five.Approximate Average Award:$400,000 (This amount is for the first 12-month budget period.)Floor of Award Range: $350,000.Ceiling of Award Range: $450,000.
Type of Award: Grant.Fiscal Year Funds: FY 2004.Approximate Total Funding: $5.0 million (up to $1.5 million reserved for small, minority producers).Approximate Number of Awards: 20.Approximate Average Award:$250,000.Floor of Award Range: None.
More Definitions of Award Range
Award Range means the range of awards that may be awarded to Participants based on their positions or employment levels within the Company or its Affiliates, expressed as percentages of such Participants’ Base Salary, pursuant to Section 4(a)(i) hereof.
Award Range is any percentage above the Standard Performance Range. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: Unacceptable - Standard Performance Transaction Type Penalty Range Range Award Range -------------------------------------------------------------------------------------------- Financial Accuracy <96.6% 96.6% - 98.6% >98.6% Non-Financial Accuracy <88.1% 88.1% - 95.1% >95.1% Overall Accuracy <92.6% 92.6% - 96.3% >96.3%
Award Range is further divided in half with a midpoint that falls between the top of the "Standard Performance Range" and the "Best in Class score" as determined each quarter. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: ----------------------------------------------------------------------------------------------------------------------- Unacceptable - Standard Performance Award Range - Lower Award Range - Transaction Type Penalty Range Range Half Upper Half ----------------------------------------------------------------------------------------------------------------------- Financial Accuracy *96.6% 96.6% - 98.6% **98.6% - Midpoint - *Midpoint Best-In-Class ----------------------------------------------------------------------------------------------------------------------- Non-Financial **95.1% - Midpoint - Accuracy *88.1% 88.1% - 95.1% *Midpoint Best-In-Class ----------------------------------------------------------------------------------------------------------------------- **96.3% - Midpoint - Overall Accuracy *92.6% 92.6% - 96.3% *Midpoint Best-In-Class ----------------------------------------------------------------------------------------------------------------------- * Denotes less than ** Denotes greater than Other Transaction Processing Obligations The following factors will not be part of the award or penalty structure; however, they are obligations of PFPC. . Financial Processing Timeliness, as determined quarterly by NQR, will be at least the NQR average. Timeliness is defined as the percent of financial transactions processed the same day that they are received in good order. . Non-Financial Adjustments and legal transfers will be completed within three days of receipt. . Maintenance (including address changes, account option changes, ROA/LOI) will be completed within 5 days of receipt. . Financial Items will receive 100% Quality Control the same day they are processed.
Award Range is any percentage above the Standard Performance Range. The "Award Range" is further divided in half with a midpoint that falls between the top of the "Standard Performance Range" and the "Best in Class score" as determined each quarter. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: ----------------------------------------------------------------------------------------------------- Standard Unacceptable - Performance Award Range - Award Range - Transaction Type Penalty Range Range Lower Half Upper Half ----------------------------------------------------------------------------------------------------- Telephone **2.71 - Midpoint - Service Quality *2.33 2.33 - 2.71 *Midpoint - Best-In-Class ----------------------------------------------------------------------------------------------------- * Denotes less than ** Denotes greater than Other Service Quality Obligations These factors will not be part of the award or penalty structure; however, they are obligations of PFPC that PFPC shall not fail to meet for any two months of any rolling four-month period: . Call Answer Rate as measured by the PFPC's Call Monitoring System will maintain a monthly standard of at least 98%. . Average Speed of Answer as measured by PFPC's Call Monitoring System will be no greater than 20 seconds for each month. . Financial Correspondence will be mailed within two days of receipt. . Non-Financial Correspondence will be mailed within four days of receipt. . Correspondence rating, as measured by NQR, will be at least a 3.5.
Award Range is any percentage above the Standard Performance Range. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: ----------------------------------------------------------------------------------------- Unacceptable-- Standard Penalty Performance Exceptional--Award Transaction Type Range Range Range ----------------------------------------------------------------------------------------- Financial Accuracy <96.7% 96.7% - 98.8% >98.8% ----------------------------------------------------------------------------------------- Non-Financial <86.7% 86.7% - 94.3% >94.3% Accuracy ----------------------------------------------------------------------------------------- Overall Accuracy <91.8% 91.8% - 96.0% >96.0% ----------------------------------------------------------------------------------------- OTHER TRANSACTION PROCESSING OBLIGATIONS The following factors will not be part of the award or penalty structure; however, they are obligations of PFPC. - Financial Processing Timeliness, as determined quarterly by NQR, will be at least the NQR average. Timeliness is defined as the percent of financial transactions processed the same day that they are received in good order. - Non-Financial Adjustments and legal transfers will be completed within three days of receipt. - Maintenance (including address changes, account option changes, ROA/LOI) will be completed within 5 days of receipt. - Financial Items will receive 100% Quality Control the same day they are processed.
Award Range is any percentage above the Standard Performance Range. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: ------------------------------------------------------------------------------------------- Unacceptable -- Standard Penalty Performance Exceptional -- Award Transaction Type Range Range Range ------------------------------------------------------------------------------------------- Telephone Service <2.20 2.20 - 2.63 >2.63 Quality ------------------------------------------------------------------------------------------- OTHER SERVICE QUALITY OBLIGATIONS These factors will not be part of the award or penalty structure; however, they are obligations of PFPC that PFPC shall not fail to meet for any two months of any rolling four-month period: - Call Answer Rate as measured by the PFPC's Call Monitoring System will maintain a monthly standard of at least 98%. - Average Speed of Answer as measured by PFPC's Call Monitoring System will be no greater than 20 seconds for each month. - Financial Correspondence will be mailed within two days of receipt. - Non-Financial Correspondence will be mailed within four days of receipt. - Correspondence rating, as measured by NQR, will be at least a 3.5.
Award Range is any percentage above the Standard Performance Range. At present, the Penalty Range, the Standard Performance Range and Award Range are as follows: Unacceptable - Standard Performance Award Range Transaction Type Penalty Range Range Telephone Service Quality <2.33 2.33 - 2.71 >2.71 OTHER SERVICE QUALITY OBLIGATIONS: These factors will not be part of the award or penalty structure; however, they are obligations of PFPC that PFPC shall not fail to meet for any two months of any rolling four-month period: - Call Answer Rate as measured by the PFPC's Call Monitoring System will maintain a monthly standard of at least 98%. - Average Speed of Answer as measured by PFPC's Call Monitoring System will be no greater than 20 seconds for each month. - Financial Correspondence will be mailed within two days of receipt. - Non-Financial Correspondence will be mailed within four days of receipt. - Correspondence rating, as measured by NQR, will be at least a 3.5.