Incentive Cap definition
Examples of Incentive Cap in a sentence
If the Yield is greater than 11.5%, then the Incentive Fee shall equal the Incentive Cap.
Notwithstanding the foregoing, in no event shall Executive be entitled to be paid more than an aggregate of $1 million (the "Incentive Cap") (such amount to be determined before deduction of amounts permitted to be deducted by subsection 2(c) below) pursuant to this subsection with respect to any Incentive Year.
For clarity, any applicable Modelling Incentive will not be considered in calculating the Incentive Cap.
For avoidance of doubt, if the aggregate assessed Property value exceeds the Minimum Assessed Value, Developer shall be entitled to twenty percent (20%) of the total Available Tax Increment generated by such assessment, which may be above and beyond the Minimum Assessed Value, without limitation, but subject to the Tax Incentive Cap.
For example, other than an earlier termination under Section 5(c), if this Agreement is earlier terminated after four (4) years the Incentive Cap would be $2,000,000 per year averaged over four (4) years or $8,000,000).
Aggregate Performance Incentives as to each Limited Partner for each Incentive Period, when calculated as an annualized percentage of the Limited Partner's average Capital Account balance for such Incentive Period, will not exceed any maximum rate determined from time to time by the Directors and approved in the manner contemplated by the 1940 Act; such maximum rate initially to be 1.75% (the "Incentive Cap").
For the year YR 2015, any incentive compensation that exceeded the Incentive Cap in prior years and the Transition Period plus the incentive compensation for the year YR 2015 shall be paid to CEO subject to an Incentive Cap of $2,000,000 per year averaged over the years YR 2010, YR 2011, YR 2012, YR 2013, YR 2014 and YR 2015 plus $666,667 for the Transition Period.
To the extent the Court approves incentive awards in an amount less than the Incentive Cap, the difference, and any interest attributable to the amount of the difference, shall be included in and treated as a part of the ▇▇▇▇▇▇▇ Net Recovery.
As used herein, the term "Incentive Cap" means, with respect to any Contract Year, the sum of the then applicable total Milestone Payments made to Employee and [Other Employee] since the Closing Date (as such term is defined in the Stock Purchase Agreement), plus 20% of the actual cumulative gross margin that then exceeds the applicable Cumulative Annual Gross Margin Baseline for such Contract Year.
For employment years YR 2010, YR 2011, YR 2013 and YR 2014 the Incentive Cap for those years will be $2,000,000.